ENG1102

A report on the spending habit among

Troy University’s students

Prepared by: Phan Hoang Hung-1581279

A student from: K18A
Prepared for: ENG1102-IVAD

May 10, 2021

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TABLE OF CONTENTS

ABSTRACT 3

INTRODUCTION 3

METHODS 4

FINDINGS AND DISCUSSION 4

CONCLUSION AND RECOMMENDATIONS 8

BIBLIOGRAPHY 10

APPENDICES 11

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ABSTRACT
The primary objective of this paper was to determine the spending habit of Troy University’s
students in UEB campus, VNU, Hanoi, Vietnam.
This study was done by using descriptive survey method. The author made and used the
questionnaire as the main instrument for data collection. The study revealed that most of the
student are dependent from their parents for their allowance and they have additional income
form part-time job. The study also revealed that they spend money mostly for food, hanging out
and clothing. It was concluded that student’s spending habit usually affected by the necessity of
the item and their mood. As the result most of the students usually spend more than they expected
so sometimes they can face budget deficit.
So the recommendation are that students should learn how to manage their spending based on
their income and have a saving in case of emergency.

INTRODUCTION
1. Purpose
The purpose of this study is to identify Troy University’s students spending habit based
on their income and monthly expenses. From that go detailed about the problems that
they are facing and come up with suggestions that help them to improve their finance
management.

2. Scope
The study focus to examine the Troy’s students spending behavior, the main sources of
student’s income, their finance management, the factors that affect the spending and
suggestions.
3. Sources

The information for this report was collected from the following sources:
https://docs.google.com/forms/d/1EZZjOFHVfJUATDthJKP2tqXN3BSbjIF8ZSZxIY
V2CMo/prefill

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METHODS
I. Research instruments
Questionnaires
In order to find out the students’ spending habits, the questionnaire was used as an
instrument since the author believes that questionnaire is the quick and correct way to
collect the data. The questionnaire composed of three parts with nine questions. The
first part included the student’s main sources of income and their monthly income.
The second part was an assessment into their main categories of spending such as:
food, accommodation, entertainment, clothing...And the how they dealt with their
finance. The last part was suggestions to improve their own finance management.

II. Participants
Questionnaires were delivered to 40 students via Google form on May 6. It took the participants 5
minutes to finish their surveys. Right after that 40 questionnaires were collected by the
researcher.

FINDINGS AND DISCUSSION

1. Sources of income:

Figure 1: Student's main sources of income

Figure 1 has revealed that most of the students are dependent on their parents for their allowance
with 25 responds and 23 of the respondents said that they have part time job to improve their own

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income aside from their parents. This result is also based on Leiser and Gani (1996, pp. 93- 109)
[1], who classify parents into two groups, the first one are the parents who try to protect their
child and in charge for all of their child’s expenses. Children under this group will not anxious to
work in order to have money. And the second group are the parents who encourage their child to
earn money to understanding its value and to have experiences as well as to improve their
income. However, the students who grant scholarship or make their own business are very less
just only 5 and 8 students respectively.

2. Students’ monthly income:

Figure 2: Students' monthly income in VND

The figure showed the students’ monthly level of income. 42.4% of the students said that they
have the income around 3-5millions VND. Followed by the group of the students who have the
monthly income under 3millions VND with 27.5%. The next is the group of student have above
10millions a month, most of the students in this group said that they are doing their own business
when asked about their main sources of income. The group who have income from 5-7millions
made up 12.5% .And a very small number of students who have from7-10millions a month just
only 2.5%.

3. Categories of students’ spending

Figure 3: students' spending categories

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The chart indicated the all the categories of spending in a month of Troy’s students. As we can
see foods and meals dominated with 33 votes. Followed by with hanging out and clothing with 28
and 27 votes. So here are the top 3 categories that the students spend most of their money in a
month. Contrast with it, the least categories that students spend money for is charity and social
activities with only 2 votes.

4. Students’ saving

Figure 4: students' saving

The figure 4 showed the responds of students when they were asked about saving money. 72,5%
of the student said that they have the saving from their income while the rest said that they don’t
have.

5. Student’s Monthly saving budget

Figure 5: Students' monthly saving

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The pie chart illustrate the level of saving of Troy’s students in a month. More than a half of
students have saving less than 30% of their income – about 54.3%. about half of that number
(22.9%) said that they are saving 30% every month. Just only 17.1% of the students are saving
half of their income. And the 2 smallest groups are the student have saving of 70% and above
70%, these two groups have the same proportions of 2.9%.

6. Plan for expending:

Figure 6: Students' plan of expending

It can be seen in the chart that 57.5% of the students responded that they have their own specific
plan for expending while the 42.5 remaining said they don’t have any plan for it.

7. Expectation in spending

Figure 7: Students' expectation of exceed spending

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When asked the students about their expectation in spending, 62.5% of them responded that they
usually spend more than they expected while only 37.5% said that their expenses are within their
expectation.

8. Factor that affected the students’ expending

Figure 8: Factors affected students' spending

The chart illustrated the factor that affected students in their expending. The most influential
factor to their spending is the necessity of the items or things. The next two factors are their mood
and hobbies have the same proportion of 25%. The least influential factor is the discount or price
of things with just only 22.5%.

CONCLUSION AND RECOMMENDATIONS

On the basis of information in this paper, it can be concluded that most of the student are
dependent on their parents in allowance but they also doing some part-time jobs or business to
improve their income. The average income of Troy’s students is about 3-5millions VND, and
they usually spend their money on food, entertainment or stuffs such as cloths and accessories to
fulfil their personal desire. Most of them have their own plan and saving of about 30%. However,
they usually spend more than their expectation, explained for this maybe because of some factors
influential like the necessity, their mood or hobbies.

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From these conclusions, it is therefore recommended that student should plan their expending so
that their spending behavior can be better. they should take into consideration saving money and
buying necessary items rather than spending on their wants. Students must conscious about the
consequences of their financial decision because it may affects their future. Another way that
they may lessen their spending is to analyze their expenses behavior by creating and developing
financial chart keep track of it and provide improvement.

TOTAL WORD COUNT: 1094

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BIBLIOGRAPHY`
[1] Leiser, D., & Ganin, M. (1996). Economic participation and economic socialization. In P.
Lunt,& A. Furnham (Eds.), Economic socialization: The economic beliefs and behaviours of
young people (pp. 93- 109). Cheltenham, UK: Edward Elgar.

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APPENDICES

APPENDIX 1:
Questionnaire about “Spending habit among Troy University's students in UEB campus, VNU,
Hanoi, Vietnam.”
Hello!
I'm so glad to see you here!
First of all, I would like to thank you for your participation in my survey, you are great help!
My name is Hung, as a Troy University's student, I'm conducting a research on "Spending habit
among Troy University's students". I'd love to hear from your opinions including with your
suggestions so that I can understand more deeply about student's financial situation, from that
help them to make improvement in their financial management.

The survey only takes 5 minutes, and your responses are completely anonymous.

If you have any questions about the survey, please email: phanhoanghung19999@gmail.com

I really appreciate your participation.

1. What are your primary sources of income? *

 Part time jobs
 From your parents
 scholarship
 Your own business
 Other: ……………………………………
2. How much is your monthly income? *
o Under 3 millions
o 3-5millions VND
o 5-7millions VND
o 7-10millions VND
o above 10millions VND

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3. Check the TOP 5 categories in a typical month where you spend most of your money *
 Accommodation rent
 Household bills (electricity, water…)
 Transportation
 Studying
 Foods/Meals
 Hanging out ( coffee, tea, ...)
 Entertainment (Movie, music concert, books, billiard...)
 Clothing and accessories
 Your business
 Charity and social activities
 Other: ……………………………………
4. Do you have any saving from your income? (if yes please answer question no.5) *
o Yes
o No
5. How much is your monthly saving
o Less than 30% of your income
o 30% of your income
o 50% of your income
o 70% of your income
o more than 70% of your income

6. Do you have any specific plan for your monthly expending? *

o Yes
o No

7. Do you usually spend more than your expectation? *

o Yes
o No

8. What is the factor that influence your expending the most? *

o Mood
o Necessity
o Discount/ Price
o Likings/ Hobbies
o Others: ……………………………………
9. What can you do to improve your spending habit?

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…………………………………………………………………………………………………..
…………………………………………………………………………………………………
………………………………………………………………………………………………….

ASSIGNMENT - SCORE SHEET

Score
Marking criteria Very Good Average Poor Very
good poor
Clear description of the situation (/2.5) 2.5 2.0 1.5 1.0 0.5

Objective presentation and analysis of relevant 2.5 2.0 1.5 1.0 0.5
information (/2.5)
Appropriate style – formal and objective (/1) 1.0 0.8 0.6 0.4 0.2

Correct spelling and punctuation (/1) 1.0 0.8 0.6 0.4 0.2

Appropriate and varied vocabulary (/1) 1.0 0.8 0.6 0.4 0.2

Accurate grammar and varied sentence 1.0 0.8 0.6 0.4 0.2
structures (/1)
Proper format and citing of references (/1) 1.0 0.8 0.6 0.4 0.2

FINAL SCORE /10

Note: if the assignment does not reach the minimum word limit or exceeds the allowed number of
words by 10%, one point will be deducted from the final score.

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