BUSINESS RESEARCH METHOD

EBB
STUDENTS VS FINANCIAL PROBLEM

SITI FATIHAH BINTI M.SARBANI
UMIRUL ADILLA BINTI MOHD NOOR IHSAN
WAN NORDIANA BINTI MAHMOD
MOHAMAD IZZAT BIN WAHID
MOHAMAD NIZAM BIN KHOJA NAJUMEDDIN
DR. ASMAH ZAKARIA

ACKNOWLEDGEMENT

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In the name of Allah, the Most Gracious and the Most Merciful.Alhamdulillah, all praises to
Allah for the strengths and His blessing in completing this report about “Students vs financial
problems”. There are no proper words to convey our deep gratitude and respect to our lecturer,
Dr. Asmah Zakaria for the continuous support. Her guidance helped us in all the time of
research and writing of this report.
We also take this opportunity to express a deep sense of gratitude to our team members
Siti Fatihah binti M. Sarbani, Umirul Adilla binti Mohd Noor Ihsan, Wan Nordiana binti Mahmod,
Ahmad Izzat bin Wahid and Mohamad Nizam bin Khoja Najumeddin for the cooperation given
during finishing this report assignment.
Sincere thanks to all our friends, classmates and others for their kindness and moral
support during our study. Thanks for the friendship and memories.
Last but not least, our deepest gratitude goes to our beloved parents for their endless love,
prayers and encouragement. To those who indirectly contributed to this research, your kindness
means a lot to us. Thank you very much.

1.0 INTRODUCTION
As education loans become a major source of financing for university students in
Malaysia, their personal financial management skills need to be assessed to ensure effective
and efficient use of financial resources. Most university students believe that with higher

education they could ensure higher rank occupations and hence, higher income. Therefore,
students who pursue higher education have to spend their time in the university, which, in turn,
keeps them away from participating in the job market and having their own income. Thus,
finance is becoming a significant factor in the choice of whether to pursue university education
or to work. Students often begin their university education without ever having been solely
responsible for their own personal finances. While in the university, the students have to
manage their own expenses.
The research findings indicate that while students have wide access to financial
services, such as education loans and credit, they lack the financial management knowledge
and experience to manage money, which may lead to financial problems. The assessment of
students’ financial management skills is the primary focus of the present study. The National
Higher Education Fund Corporation loan (PTPTN) is the major source of financing for tertiary
education in Malaysia. The availability of this loan since 1997 has enabled more students to
pursue higher education. Logically, the loan received should be adequate to support the cost of
living; however, studies by Masud (2004) and Sabri (2008) revealed that, university students are
experiencing financial problems due to the lack of financial management knowledge.

The ability to manage financial resources is essential for everyday life activities. Wellinformed and financially educated people are able to make better decisions for their families
and, thus lead to higher financial security and well-being. However, the understanding of
consumption, as reasoned behavior or action, is inadequate in today’s modern society, where
consumerism is characterized by globalization, cultural changes and the liberation of the

issues related to financial education and knowledge were discussed among family and economic educators.1 BACKGROUND OF STUDY Throughout the 1990s. Educational programs such as seminars. The specific objective of the present study is to assess university students’ financial management skills and to determine students’ financial education needs.individual. . consumption is part of children's and youngsters’ formation and socialization. Therefore. Most of the recent studies focused on the financial planning of university students because many of them fail to plan their expenditure and unexpectedly experience financial problems. universities and the nation. and plays an important role in the development of identity and self-conception. since their financial behavior will have an important impact on their future life and personal well-being. finance services providers. However. knowledge about students’ financial skills and educational needs enable the policymakers and financial planners to develop appropriate strategies and programs to enhance students’ financial knowledge. workshops and even printed pamphlets have been recognized as tools to improve financial knowledge and enhance financial skills. In other words. there is a need to understand the financial skills and abilities of students. 1. University students report having high debt. Enhancing students’ financial skills would benefit the individual.

Norvilities (2006). especially among young adults. loans. financial education plays a key role in financial empowerment. Perry and Morris (2005) found similar results. Concerning the importance of financial education. Kempson et al. 2007). Financial knowledge includes understanding financial activities such as the function of money and the use of financial services. Those with higher levels of financial knowledge tend to have “right” opinions and make “correct” decisions related to savings. as well as low financial satisfaction due to the lack of financial management skills. Of all the factors they considered being indicative of responsible financial behavior. borrowing.serious credit card usage. by reviewing several studies (Seaward and Kemp. it is generally accepted among researchers that. The financial knowledge is one of the strongest predictors of financial behavior among university students. and high stress. university students generally lack financial knowledge. However. The research findings among university students in the US reveal that. Parents. Warwick and Mansfield. financial pressure is the most frequently cited reason for students discontinuing their education (Chiang. as education helps consumers acquire the skills. A study by Chen and Volpe (1998) reported that. 2000) concluded that those seriously in debt might not understand the implications of their financial behavior. Young adults may be unprepared to effectively manage the psychological costs associated with financial problems such as increased levels of stress and decreased levels of well-being. health and safety wellness. right attitudes and relevant knowledge needed in making choices for the best of their economic. (2006) define financial skills and ability as the knowledge and . financial education is the key to decrease financial problems. financial knowledge was found to have the greatest effect. Students’ financial resources come from a number of sources. 2000. Many researchers have suggested that a lack of financial knowledge and skills results in students experiencing financial problems. credit cards and income from part time jobs are their basic financial sources. Financial management skills and knowledge are needed to help students match their needs with their resources. and investing.

and are influenced by the personal attitudes in spending and saving. The study concluded that. the purchasing power for the overall Malaysian population has increased. financial skill and ability are needed to plan. Although most studies consider financial knowledge as a basic element of financial decision making and planning. that financial skills and competence are based on financial knowledge and understanding. these three factors may have a direct or indirect effect on one’s financial skills and abilities. education. socialization) and 3) the macro environment (society and its social. Researchers in the field of finance. only a few focused on financial skills. financial skill is the ability to apply such knowledge to make financial decisions and planning. Masud’s (2004) study on Malaysian university students revealed that.understanding that allows people to acquire the skills to deal with everyday financial matters and make the right choices. Financial knowledge refers to financial information and literacy. the majorities of Malaysian students borrows money for their education and easily fall into debt because of the lack of financial planning for the future. Therefore. values and attitudes or habits). Not many studies have been done on the financial behavior of Malaysian university students. such as income. and socialization the financial skills are based on three factors – 1) demographic characteristics (age. age. the majority of them were experiencing financial problems because of the lack of knowledge and management skills. Research has shown that several factors are associated with personal financial skills and knowledge. education. Sabri (2008) conducted a study . with no exception for students. sex. manage and resolve financial risks and opportunities in the future. 2) the phase of life and immediate environment (family. control. Thus. economic and cultural settings). Some researchers define financial skills as the ability to understand and manage across a range of financial contexts including both predictable and unpredictable situations. although students are an important market segment. However. There is a difference between providing information as knowledge and the ability to apply it. however.

they also received payment from . According to the researchers. monthly savings. According to the requirement of educational loan. scholarship and so on. Thus. the amount for the tertiary students to get their allowances from doing the part time job to support their expenditures has been increased (Nonis & Hudson. There are several sources of finance for the tertiary students such as government educational loan (PTPTN). According to Sabri (2008). 1. salary from the part time job. the findings indicate that financial knowledge is a strong predictor of financial behavior and a preventive factor for financial problems. 2006). monthly expenditures and general financial knowledge based on gender and subject taken will affect tertiary students‟ financial literacy. the PTPTN loan will be cut off immediately if the students are not able to achieve their Grade Average Point (GPA) for their semester final exam higher than 2. Some of the students‟ family not able to support their tuition fees which are costly. most of them were uncertain about where money is spent and that they bought unnecessary things and lent money to friends. It will lead the tertiary students to face the financial problem when the PTPTN is being cut off due to their result. However there are some students not only received allowance from their parents. When the PTPTN loan is being stopped.among Malaysian college students and found that.0. Most of the students are rely on the PTPTN loan to support their life expenses and preserve for future emergency needs. pocket money from parents. Therefore students will learn to spend their money wisely and develop well financial literacy. PTPTN loan is apply by the students to support their tuition fees. the students will start to have the shortage and lack of the source of finance for them.2 PROBLEM STATEMENT This research seeks to determine whether the source of finance.

Gibson and Le (2004). but they will confuse what is the level of saving conduced are considered adequate. people would not reduce their present consumption in order to save further for their retirement. The surplus of funds may cause them overspending which will bring negative impact on their financial literacy. According to . saving also limited by the income generated. many people have faced the problems of debt in the world today. Besides that. According to Scobie. housing and entertainment every month. Although people are saving for all the time. making it difficult to establish a solid benchmark against which to measure adequacy. 2011). as have superannuation as the backup of the retirement. Existing social insurance rule also reduce the need for such saving while current tax rules reduce the return on monthly savings (Feldstein. It must be stressed that there is limited information about the rate at which individual are actually saving. What is seen as adequate may differ whether we have an individual perspective or a collective perspective.PTPTN loan. 2011). This situation also leads them to an unhealthy spending behavior with the bad attitudes (Yates & Ward. They do not keep track of their expenses and they just thinking about today which leads them cannot organize their finances well (KNS Financial. Most people do not know how much had they spend on food. 1992). In additional. All of these will lead to bad personal finance management which is mismatch the goal and the financial resource. These reasons will become the encumbrance of saving.

it comes to a question that whether a person has general financial knowledge will have a higher financial literacy. monthly expenditure can be an important variable in financial literacy problem. they will have a bit concept of where their money gone and which is an essential element of financial control system. However it is hard to apply the financial knowledge in the real world’s financial transactions and activities. On the other hand. The findings pointed out that business students display higher financial literacy level than nonbusiness students. If people able to prepare their monthly spending plan. However. There are some arguments stated that men are . In addition. Thus. most of the non-business students especially science students are lack of the general financial knowledge and poor in the technique to manage their finance. In addition. well management of their savings and expenditures.Salmons (2007) spending plan will make people able to utilize their money to obtain the things which are most important to them. a lot of people are interested in finding out whether males of females among tertiary students are more knowledgeable in personal finance. some people may interest to know that whether boys or girls can get more money from their parents. Is general financial knowledge important for each individual to understand better in finance? There is a different point of view in financial literacy between business and non-business students. General financial knowledge is important for individual to well manage their finance.

knowledgeable in personal finance management compare to women. 1. males know more knowledge in insurance and personal loans but they are poor in financial management compare to women. he may fail to manage his fund wisely as he always absent for the class. the outcome of taking this subject may not same due to students‟ learning attitude. the researchers conduct a study on personal financial literacy among tertiary students. allocate money for savings and buy ingredients for lunch. women have less knowledge in financial compare to men. Therefore it is difficult to determine whether male or female have higher level of financial literacy. some people may argue that women are well in personal finance management compare to men. Therefore taking a subject that related to financial management is important for individuals such as Personal Financial Planning and Management. It is challenging for an individual who lack of experience with financial planning to manage their money wisely. However. such as pay for rental. Based on Goldsmith and Goldsmith (1997).3 OBJECTIVES OF THE STUDY It is vital for universities students to ensure that their spending of money is in correct way. Although the student had taken this subject. However. This statement was proved by Chen and Volpe (1998). Besides. The financial decision made by different individual may provide different consequence in the future for example overspending can reduce an individual purchasing power. Due to the phenomena as stated in the problem statement. The attitude of the universities students can become their life more smoothly because of have . The individual manage their finance on a daily basis. the male students are more knowledgeable in financial than female students because male students were socialized earlier in financial matters.

the main objective of this study are :  To ensure that students can use the money from variety of sources are used in correct way. 1.saving in the bank. They are the constraints .  To bring awareness to students about the importance of saving money. Therefore. so that they will not face in financial problem in future.4 LIMITATIONS OF THE STUDY The limitations of the study are characteristics of design or methodology that impacted or influenced the application or interpretation of the results of our study.  To identify where the universities students spend their money.  To provide guidance to where their money should be spent to avoid useless.

5 SIGNIFICANCE OF THE PROBLEM . But it did not interrupt our finding. The next limitation of our study is the lack of time carrying out this research. For instance. To make a good research you have to buy a good sample of questionnaires and journal which care very costly to us. tests. we can manage do complete our finding as well. but there were little errors on the questionnaires which make our data collection to be a little difficult. 1. The first limitation of our study is the limitation on collecting data since we have a hard time in collecting our data.and utility of findings that are the result of the ways in which we chose to design the study and the method used to establish internal and external purpose. In addition. the other limitation to our study about the research is because of the lower priority for carrying out a survey because of competing urgent task. we have found that all of our questionnaires and data are obtainable. Besides that. Sometime we need to do the things that we really need such as we need to prepare for the upcoming tests or assignments that we need to do so. however with the guidance of our lecturer. Finally. our research might take some time because of we are lack of funding necessary to carry out a survey. Since all of us were busy to classes. the surveys might not be understood well by the participants where make them to simply answer the questionnaires. reports. and quizzes we could only obtain the primary data rather that obtaining the secondary data because of our limitation to the obstacles. There might be some error on the questionnaires given the participant to fill our surveys.

parents are no longer burdened when their children often ask for money when the money runs out. 2. this study will enlighten the students where their money should be distributed. we can see the attitude of university students in managing their money that they get.The primary motivation for this study is to educate university students about the importance of saving money. So. This can give them a chance to save money in any bank for their future life. travelling. With an unstable economy and rising cost of living. This study will also be great significance to the parents. Through this study. where their children can manage the money as well as possible. They should cut spending to activities that are less beneficial for them that involve money. For examples are shopping. loans or from family sources. whether from scholarships. eating expensive food and so on. In addition. students should take steps to reduce their spending on universities.0 Literature Review .

17% of students gifted some money to their family. More than half of the students used their money for shopping. So they have a problem for planning their finance with more efficiently. we know that majority of students have money from their scholarship and education loan for each semester with cash and in a big amount. family income. residence and education fund (Mohamad Fazli Sabri et al. The finding is supported by Mohamad Fazli Sabri et al (2008). sibling rank. . My opinion about this situation is student must planning their finance from the beginning of each semester so that they just using the money for necessary things”. they not have any problem at the beginning semester compare with last of each semester. It is because for each semester. there are many causes about student finance problems such as parent’s marital status and educational level. they have many things for use in their study such as reference book. So. 2008). majority of students receive their scholarship or education loan at the beginning of each semester. Causes of Student Finance Problem  Unnecessary Things Today. fees and more.As we know. About 45% of them spent all their money before the end of the semester. types of universities. “more than half of the respondents did not save any money when they received their scholarship or education loan. Based on “Financial Problems among Universities Students in Malaysia” by Mohamad Fazli Sabri. and 13% used their money to repay debts”.

2%)”. “the most significant influence on students’ money management behaviors was their parents (70. J et al (2006). In this case. student can’t manage their finance because of a strong family influence. Few students identified as their most important influence a brother/sister (1. many were very aware that they and a sibling approached financial management differently and wanted to be different from or like their sibling. This is because some student comes from low income families. For another situation that related with this cause is family problem that can make the student . the influence of family members is important but complex. J. student will lost focus for manage their finance because of family intervention. this situation can make the student cannot manage their finance properly because they had to use their scholarship or education loan for another things. (Cude et al. At the same time. In addition. Unlike the research from Cude B. Most students reported hearing various messages about money from various family members. It is because they often influenced by their family and not confident to make own decision about their finance”. and other family relative (1.9%). The effect of this situation is student will leave their finances managed by family. So. grandparents (1. Base on “College Students and Financial Literacy: What They Know and What We Need to Learn” by Cude B. depending on whether the sibling was more or less responsible.2%). student should manage their finance with using their own opinion and ways. Most of the messages students shared related to controlling spending and avoiding or using credit wisely. 2006). Sometimes. Student had gifted some money to their family for help them from finance crisis. The Influence of Family Member The second causes of student finance problems are family aspect.0%).

Refer to Cude B. tend to spend on more items. 2008).1 RESEARCH FRAMEWORK Subjective Norm . Student also failed to manage their finance with more efficiently because not prepare to face some possibility that can giving bad effect to their finance. young adults also may be unprepared to effectively manage the psychological costs associated with high debt. 2. Mohamad Fazli Sabri et al (2008) clearly has noted. M. J et al (2006). “one conclusion from the research is that some college students are not managing their finances well. Also those who have had more financial socialization have fewer financial problems”. higher family income. for example. student attitude can give an impact to their finance management. M.having a problem in their finance. Another conclusion is that some “recommended” practices should be modified to more accurately match ways in which college students responsibly manage their finances”. Base on “Changing College Students’ Financial Knowledge. Attitudes. Some student have positive attitude and another student have negative attitude. and Behavior through Seminar Participation” by Borden L. increased levels of stress and decreased levels of psychological well-being (Borden L. As we know. only child.  Failed to Manage their Finance Properly The last cause is student failed to manage their finance properly. “students who have universities graduate parents. because they have not adopted the set of recommended practices. and have no saving were more likely to have financial problems. et al. There is a negative significant difference between students who have late childhood consumer experience and financial problems.

1. attitude. 2.3 Perceived Behavioral Control Perceived behavioral control is a belief about control of the opportunities and resources by an individual in creating the financial problem . 2.1 Attitude Attitude towards the financial problem is referred as the respondents’ favorable or unfavorable evaluation. subjective norm.Attitude FINANCIAL PROBLEM Perceived Behavioral Control Financial Problem Financial problem are influenced by three independent determinants.2 Subjective Norm Subjective norm is a perceived social pressure to perform or not to perform the financial problem 2. perceived behavioral control.1.1.

The findings were analyzed through pie charts. we have analyzed it quantitatively. we manage to analyze the data obtained from it and there is so many type of answers obtained. After all the questionnaires distributed. One major benefit of using secondary data is that it has already been reviewed suitably used. Based on our research conducted. Common sources of secondary data for our research used such as previous records. However. In conducting this report. books. journals from the websites. Respondent is the usual term for an individual who takes part in a research project. The findings of the results were transferred into the Microsoft Excel. The data were calculated and the analysis of the data using the charts was made easier. we have distributed 60 questionnaires to the consumers in Malaysia. from all the 60 questionnaires distributed. interviews among friends. which are primary data and secondary data. For instance. Primary data are data that were previously unknown and which have been obtained directly by the researcher for a particular research project. respondents can also be known as a participant in a research sample as we can recognize the value of more collaborative interview relationship between participants and us. there are two methods of data collection were used. RESEARCH DESIGN .METHODOLOGY The survey by questionnaire were been used in this research. databases and data collected through qualitative methodologies or qualitative research in the library. Next is by using secondary data in the process of collecting or data.

family income. First. There has been limited study on financial problems among Malaysians. university attendance is the first time they have experienced financial independence without a parent's supervision. and place of origin. this student segment of the population has better potential earnings than any other segment of the population. parent’s marital status and educational level. university students are treated as target population in order to complete this research. residence. spending patterns. monthly spending on accommodation. Second. and financial literacy. ethnicity. The questionnaires is about how financial problem affects students and how spending habit affects students. with easily available educational loans. especially college students. ask about gender. sibling rank. types of college. Grable and Bagwell (2006) claimed that. Hypothesis 1: The following variables will predict effective financial behavior and greater financial problems: gender. education fund. savings. university or college students have become one of the important consumer market segments. telephone bills.Quantitative research is conduct through using the large scale of survey research. sponsorship. In the questionnaires. parents who have financial problems are more likely to have negative influence toward students’ financial behavior. HYPOTHESIS For a majority of students. using the methods like questionnaires. childhood consumer experience. With the expansion of educational services in Malaysia. financial socialization. this group has expanded purchasing power. Type of research that we conducted is survey by distributing questionnaires to the targeted 60 respondents in Malaysia. Joe. In this research. type of university. since the concern over the role of young consumers is relatively new. transportation and food. Webly and Nyhus (2006) discovered that . Hypothesis 2: Family’s influence can influence individual’s financial management. for two reasons. GPA.

Our sample size is 60 respondents. the greater the commitment of their children in managing their finance. female. Hypothesis 5: Bumiputera can influence individual’s financial management. Leung and Sproule (2006) sought that there is no significant relationship between gender and individual’s financial management. However. The more the parents discuss about the financial management. Erskine. and/or Hispanic were more likely to face with financial crisis. Kier. Hypothesis 6: Non-Bumiputera can influence individuals’ financial management. Lyons (2007) claimed that. Hypothesis 3: Male can influence individual’s financial management.2 SAMPLING DESIGN We are using a non-probability sampling technique and our population is 60 of students whether public university and private university around Malaysia. The long term oriented is defined as peoples who are willing to ‘pay’ before they ‘gain’.parents with long term orientation would influence their children to become long term oriented as well. . black. According to the Lyons (2007). Hypothesis 4: Female can influence individual’s financial management. demographic variables such as ethnicity and gender would affect individual financial behaviors. 3.

0 FINDINGS 4.1 Primary data In this research. The data were collected through questionnaires via online survey (survey monkey) that are distributed to the target respondents which are students by social media (twitter and whatsapp) 4.3 INSTRUMENTATIONS The structured questionnaire is used in gathering data for completion of this study. 3. For this survey. For first 3 questions we construct about demographic profile. 3. the primary data was been collected from the students in universities around Malaysia.4 DATA COLLECTION The primary and secondary data were both used in data collection and data sources for this research. The rest are the discussions of our dependent and independent variable question.3.4. the questions are divided into two designs.1 Gender .

67 Female Total 32 60 53. Table 4. There are 46.67 PTPTN 23 38.2: Number of university Table 4.Male Frequency 28 Percentage (%) 46.1 shows the number of respondents whom have taken part in our research.1: Number of students based on gender.3 Sponsorship MARA Frequency 27 Percentage (%) 45.2 University Public Frequency 36 Percentage (%) 60 Private Total 24 60 40 100 Table 4. 4.33% which are 32 students.2 shows the number of respondents whom have taken part in our research. There are 36 students from public university which are 60% while the rest 40% are from private university which are 24 students.33 100 Table 4.00 JPA 1 1.67% of male students which are equal to 28 students while female students are 53. 4.33 Other Total 9 60 15.00 100 .

4.4 Monthly Spending RM300 – RM500 Frequency 31 Percentage (%) 51.33 100 Table 4. The rest is other sponsorship such as payment by their family.67 RM500 – RM800 23 38.Table 4. For JPA only 1 students received.3: Number of students based on sponsorship The sponsorship by MARA is the highest among others. For PTPTN sponsorship has small different from MARA which are 23 students.4: Number of students monthly spending .67 RM1000 and above Total 2 60 3.33 RM800 – RM1000 4 6. The percentage is 45% and 27 students.

67 RM200 – RM300 10 16.33 100 Table 4. About 23 students spend their money monthly around RM500 to RM800.6 MONTHLY SPENDING ON TELEPHONE BILLS RM0 – RM30 Frequency 17 Percentage (%) 28. Most of the students spend around RM100 to RM200 which is 76.33%.Most of students spend their money around RM300 to RM500 which is 51.67% 4.33 RM90 and above Total 1 60 1. Only 2 students spend above RM1000. there are same result that spend their money on accommodation between RM300 to RM400 and RM400 and above which are 3.5 MONTHLY SPENDING ON ACCOMMODATION RM100 – RM200 Frequency 46 Percentage (%) 76.67 100 . The rest which are 4 students only spend around RM800 to RM1000 4.67% or 31 students.33 RM30 – RM60 25 41.67 RM300 – RM400 2 3. The result shows high gap between majority and minority.67 RM60 – RM90 17 28.5: Number of students spending on accommodation Based on the online survey that we have done.33 RM400 and above Total 2 60 3.

7 MONTHLY SPENDING ON TRANSPORTATION RM0 – RM50 Frequency 31 Percentage (%) 51. Students spend money around RM100 to RM150 and RM150 to RM200 have same number of students which are 10. .6: Number of students spend money on telephone bills Based on the results.67% or 31 students. Only 1 students spend above RM90.00 100 Table 4.67 RM150 – RM200 10 16. It has different gap with the minority which is only 3 students spend above RM200. the highest spending on telephone bills is around RM30 to RM60 which are 25 students.67 RM50 – RM100 6 10.00 RM100 – RM150 10 16.7: Number of student spending on transportation The majority of students spending their money on transportation is around RM50 at 51.Table 4. We can see that students spending their money on telephone bills around RM30 and RM60 to RM90 have the same number of students which are 17 or 28.67 RM200 and above Total 3 60 5.33% 4.

33 RM200 – RM300 19 31.8: Spending on food by students The results shows only little different between all the range.33 RM400 and above Total 7 60 1. Only 7 students or 1.67% spend money above RM400. Most of the students which are 20 students spending their money on food between RM300 to RM400.67 RM300 – RM400 20 28.8 MONTHLY SPENDING ON FOOD RM100 – RM200 Frequency 14 Percentage (%) 23.4. .67 100 Table 4.

First of all. Furthermore. The rental can then be divided among them instead of being paid by an individual. students are suggested to manage their spending on the accommodation and such. They can also choose the ingredients which can help in boosting their memories and maintain their energy for curricular activities.0 RECOMMENDATION In order to maintain a healthy spending habit. students can get their housemates or friends to pinch in and cook together. Students must cut down on take-outs and delivery because these two added to the expenses. . They can share the spending on groceries and learn how to cook. Students can get their friends to settle in the house as well. As for food.5. Students can negotiate the rental price with the rental agent. students can look for houses with low rental and are located as near as possible to their campus. it is healthier for the students to cook meals for themselves.

On the other hand. Having fun cost money too so. public transportation nowadays is convenient enough but students must make sure that it is located close enough from their rented house. Students can then divide the expenditure of fuel among themselves to let ease the spending on transportation. This will add up to their pocket money and they can use it later to buy books for the next semester. Students can have fun. Its level of being convenient is something that students should bear in mind too. It is wise for the students to choose the cheapest ride to campus. of course. Students are also suggested to sell their books after the end of every semester. students can get the e-book version of the reference books they need. it is best to ensure that no one over-spent! Instead of going to carnivals or concerts that is going to cost a pretty penny. that it is safe for them to move from the house to the bus or train station. students can opt to pay for the book by instalments or share the price with another classmate. This helps the students to commute anywhere (not just to college) even faster and safer. if they still cannot afford. Transportation is another thing the students need to consider since it involves a big sum of money. These prices are more relevant for students. To solve the problem. Besides. students can go to free campus events. And. they can try to buy second-hand reference books from their seniors which are positively lower in price compared to buying from bookstores. However. For instance.Reference books are known to be expensive and not all students can afford that. The most crucial part here is to have a housemate or a friend that actually has a car and is going to drive to campus. students can opt to start car-pooling with their housemates or friends who’s staying nearby. Students can get to know people from and .

If saving money is not the best solution to prevent from having financial problem perhaps gaining some more is. This is as students might suddenly need the money for emergency cases like. students will have to work as a part-timer or as free-lancer.outside their campus here.0 CONCLUSION In conclusion. Moreover. by bringing limited cash can help them to save and avoid over-spending. . By the end of every month or after every task given. students can plan on how to gain money too. not just by being careful while spending but saving money as well. the campus events are going to benefit them with better inputs which are knowledgeable and useful for future needs. Even though it is important to spend healthily. This will add up to the allowance which they are receiving (if sponsorship is applied) and hopefully will help students from having not enough money. Limited cash makes students think carefully on what they are going to spend since there would not be any more cash with them to buy another item. Students can also use their smart phones to search for solutions from experts worldwide. Students can get help from their advisors or counsellors which will provide them with ways to start healthy spending habit. In order to have more. Since it is time consuming to wait for family members to bank in the money. Also. smart students have their own savings to solve these matters. the best way for students to not engage with financial problem is for them to plan their spending (be it monthly. 6. bimonthly or even weekly). Having surplus of money in their bank accounts is every student’s dream. students will have extra pocket money. Spending healthily includes. sudden fever or accidents (let it be when riding or driving or even walking) or paying for 2+1 rental house deposit.

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macmillandictionary.d). Definition and synonyms.6) Macmillan Dictionary.com/dictionary/american/cost-a-pretty-penny#cost-apretty-penny__1 from . (n. Retrieved http://www.