Final Research Report
Module Code: PM 504
Group: D
Model Title: Research project
Assessment: Final research report
Assignment Title: An Investigation into Students’ Budgeting Practices in Glasgow
Tutor Name: Caroline Bridges
Student ID Number: 2110891
Date of Submission: 10th April 2014
An investigation into students’ budgeting practices in Glasgow
Abstract
The society has been changing continuously and the results of previous studies about students’ budgeting practices might not be applicable to the present situation: some new trends, such as increasing competitive society and female being more equipped with more financial knowledge, might appear. This research would focus on these aspects and to examine students’ budgeting practices and provide beneficial advice; also, it examined how the variables: gender, surrounding environment and financial knowledge relate to the practices. The method of convenience sampling was used and the survey strategy was used to collect quantitative information. A focus group was employed to collect qualitative information that helped to design the questionnaires, which were distributed to students in Glasgow International College (GIC) and the library of University of Glasgow (GU).
The study found that most students did not budget regularly and lacked personal finance knowledge; however, most students, who were finance- or economics-related majored, would make a budget. Furthermore, the results suggested that many students have experienced impulse buying and female students were more likely to overspend their budgets. Moreover, it found that most students agreed that developing a routine to budget from childhood is better than learning through personal finance courses in higher education. It is hoped that these results could arise students’ awareness about the importance of regular and proper budgeting practices.
Introduction
Teenagers are now lacking in the ability to manage money properly and in particularly, college students tend to
Group: D
Model Title: Research project
Assessment: Final research report
Assignment Title: An Investigation into Students’ Budgeting Practices in Glasgow
Tutor Name: Caroline Bridges
Student ID Number: 2110891
Date of Submission: 10th April 2014
An investigation into students’ budgeting practices in Glasgow
Abstract
The society has been changing continuously and the results of previous studies about students’ budgeting practices might not be applicable to the present situation: some new trends, such as increasing competitive society and female being more equipped with more financial knowledge, might appear. This research would focus on these aspects and to examine students’ budgeting practices and provide beneficial advice; also, it examined how the variables: gender, surrounding environment and financial knowledge relate to the practices. The method of convenience sampling was used and the survey strategy was used to collect quantitative information. A focus group was employed to collect qualitative information that helped to design the questionnaires, which were distributed to students in Glasgow International College (GIC) and the library of University of Glasgow (GU).
The study found that most students did not budget regularly and lacked personal finance knowledge; however, most students, who were finance- or economics-related majored, would make a budget. Furthermore, the results suggested that many students have experienced impulse buying and female students were more likely to overspend their budgets. Moreover, it found that most students agreed that developing a routine to budget from childhood is better than learning through personal finance courses in higher education. It is hoped that these results could arise students’ awareness about the importance of regular and proper budgeting practices.
Introduction
Teenagers are now lacking in the ability to manage money properly and in particularly, college students tend to
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