Philippine E-Journals

Money Management Practices of Students in State Universities and Colleges

Ester Rose Alikes | Genevieve Sagandoy

Discipline: Education

 

Abstract:

This study was conducted to examine the money management practices of Business Administration students at the Mountain Province state Polytechnic College including the problems encountered, and the remedies taken to address them. A survey method was used, and convenience sampling was utilized to determine the sample size for the respondents. The data were gathered through questionnaires and personal interviews. The study's findings indicate that most respondents prioritized saving for long-term goals but do not invest their money for insurance or gainful purposes. Most students keep a record of their expenditures but many neglects to create a budget plan and end up spending more of their budget. The result also showed that their primary problem is lack of money for unforeseen expenditures or emergencies. The solution utilized to address the issue is to save funds for the future. Hence, the Business Administration Department may consider enhancing personal finance topics in its curriculum. The college should reconsider designing financial literacy programs that may be integrated in the student orientations. Skills training should also be provided to assist the students in developing their financial and business skills.