Preview

Poor financial management behavior as a factor why students are facing financial difficulty

Good Essays
Open Document
Open Document
904 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Poor financial management behavior as a factor why students are facing financial difficulty
TOPIC: Poor Financial Management Behavior of Students as a Factor why they are facing Financial Difficulty
I. INTRODUCTION
1.1 Theoretical Background
While students are getting busy developing and learning about their chosen professions foreseeing themselves doing successful individuals in the near future, we can’t deny the fact of the increasing costs of college education, that make students find themselves in a world of uncertainties regarding financial situations.
What makes it more complicated are the different manners in playing “money management game”. Since students must know how their money be properly managed, they must learn to calculate how much they earn against how much they spend for a particular period. Starting it of course with different expenses which ranges from meals, activities to be carried out for organizational funds, books and other school supplies needed, including also pleasures with its own demands. Another thing is the tuition that rises faster than inflation rates and salary pay. These are just part of the cost of living in its real sense, which requires flexibility with coping mechanisms to survive the life being a student with changing times and unexpected conditions each students must learn to stand for.
In this present situation, being also a Paulinian clearly witnessed how a student drives the fact of reality, from which points out its behavior in regarding money which would allow readers to give their views about money management behavior whether it was poorly or properly done for it takes a lot of wise decision-making in handling different matters particularly “financial management”.
1.2 Statement of the Problem
It has been found that Poor financial management is the factor why SPSBL students are facing financial difficulty. They endure money management mistakes in their everyday transactions. Students do not know where their money is going, they are not having a plan for their money, they are not determining wants

You May Also Find These Documents Helpful

  • Good Essays

    Each student is to select research question related to money and banking and develop a well written paper that provides insight into the topic. The goal is to obtain a better understanding of the topic, while relating the identified topic or concept with real world scenarios.…

    • 642 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    assignment brief

    • 1185 Words
    • 7 Pages

    The purpose of this assignment is to: enable learners to 1) know ways to manage personal finance 2) know common financial products and services 3) be able to produce a personal budget that takes account of personal remuneration…

    • 1185 Words
    • 7 Pages
    Powerful Essays
  • Better Essays

    One of the first major steps to becoming a successful adult these days is receiving a college education. A college degree today is viewed as a necessity rather than just a place where students go to explore and expand the mind. Nonetheless it’s slowly becoming an unreachable goal for most people. It has become widely known that the cost of college has been rising the last few decades and continues to rise, and the rates will only continue to of increase. As the cost of college rises, families have to either change their way of life to be fortunate enough to send their children to college or take out extensive amount of loans. When the time comes to talk about college, a large number of questions arise. Even though there are many questions,…

    • 1809 Words
    • 8 Pages
    Better Essays
  • Powerful Essays

    Student Debt Research Paper

    • 2359 Words
    • 10 Pages

    Given that tuition and fees at colleges and universities are rising at a pace higher than the cost of living, students face an increasingly difficult burden of funding their educational pursuits. Since the 1980s, the cost of higher education has skyrocketed; college tuition and fees have…

    • 2359 Words
    • 10 Pages
    Powerful Essays
  • Good Essays

    Have you ever wondered what's the biggest challenge facing students today and how it can be addressed? College can be a egregious chapter of a young scholars life. I believe a college student financial situation is what's faced today. One's finances can be the cause of stress, and loan debt. Numerous students with low-income face financial deficiency.…

    • 293 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Understanding how to balance a check book, save for retirement, and establish good credit is essential for students before entering into the world right out of high school. Without this knowledge we would be lost with an almost guaranteed to financial disaster. There are so many things we need to understand like recurring interest, fixed interest, and how to invest money properly.…

    • 416 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Money management and financial planning is an aspect of life that everyone encounters. Despite one’s income or financial status, every adult and child has a concept of money and how to manage finances. Learning effective tips for financial success is very important to ensure future prosperity. For students especially, it is vital to be exposed to money management advice to learn and adopt good spending and saving practices early in life.…

    • 644 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Essay About College Debt

    • 816 Words
    • 4 Pages

    The greatest issue in society today is that college students begin to realize that they are in debt once they finish school. Nobody has been able to prevent this issue and college debt continues to increase. Students are facing consequences due to the fact that they are thinking ahead. They just decide to get a loan in which they don’t realize all the money that they are going to need to pay back.…

    • 816 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    research questions

    • 1434 Words
    • 6 Pages

    The study is conducted to analyze the style and pattern for finance student’s workforce. These…

    • 1434 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Student Debt In College

    • 458 Words
    • 2 Pages

    Generally, these financial burden immobilizes students, which cause many to drop out. That’s how the “Money Smarts Team” started many university officials had concerns about the amount of graduates walking away from diplomas with notable amounts of debt. That created the group of students to provide basic financial management and borrow money efficiently. It also assembles their reality of how life…

    • 458 Words
    • 2 Pages
    Good Essays
  • Good Essays

    College Tuition

    • 795 Words
    • 4 Pages

    In today’s society, college has become less of an option and more of a necessity. College is required for many various professions, and the cost of tuition seems to have a lasting effect on many Americans. Although having a college education will help someone receive higher pay and become more successful, the stress of college debt is taking a toll on graduates. Most college graduates will be paying for college loans for many years after they graduate. The continuing rise of college tuition is also hindering many people to have the desire to attend college. Like anything, education has its cost and it doesn’t come cheap. The average college student graduates with a minimum of 30,000 dollars in debt ("College Costs:…

    • 795 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Consumer Debt

    • 1067 Words
    • 5 Pages

    Over two thirds of people under the age of twenty four realize they do not know enough about finances, and are losing money because of it (Norvilitis). The reason young adults lack this knowledge is because schools rarely have financial classes. Even if such classes are offered, students see few reasons to take them, as getting accepted into prestigious colleges may require classes like math and science instead of those. Another problem is the parents, who do not teach their kids enough about finances and how they work. Children rarely seem to have the knowledge growing up about the importance of finances, saving money, and being cautious with spending your money. When it is not taught at school, it becomes the responsibility of the parents to assume that role, a role that many times is not filled. Without the correct knowledge, many children grow up lacking the thought of keeping track of their expenses, paying taxes, and putting money into…

    • 1067 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    With the cost of postsecondary education rising in leaps and bounds, potential students may wonder if the college education system is still worth investing in. Niall Ferguson (2012) states that at a sample of public colleges, average tuition and fees for in-state residents have risen by 25 percent since 2008; for private schools, these tuition and fees rose by 13 percent (p. 20). Similarly, over half (56 percent) of students are enrolled at four year schools with tuitions and fees of up to $9,000 a year with high-ranking institutions reporting costs upwards of $40,000 annually (Walker, 2010, p. 28). Although this cost has been offset for many students by the increase in government funding for education in the form of grants and entitlements, postsecondary expenses can be daunting. Yet, findings discussed later in this report reveal the vital importance of a college degree, not only in short-term job hunts but as a long-term investment over one’s lifetime.…

    • 1832 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    As a student, one of my greatest concerns regarding higher education is whether or not it is worth the price. Will I be left in debt with little to show for it? Scholars have argued for years that these concerns are justified and that the cost of higher level education is rising beyond the point of sustainability, resulting in an economic crisis. Robin Wilson, on the other hand, contends that such fears are exaggerated. Robin Wilson is a reporter for the Chronicle of Higher Education with 25 years of experience dedicated to reporting on higher education. In her article “A Lifetime of Student Debt? Not Likely,” published in Washington, D.C. in May of 2009, Wilson provides hard facts and anecdotes with one main point in mind: acquiring a reasonable amount of debt for your education is a good investment. Wilson makes some very compelling points that are still relevant, and by and large, I agree with her at this very moment. However, some things have changed since Wilson wrote about student debt and this issue may not be so cut and dried. As interest rates change and the price of a college education increases, her argument makes less and less sense. Though for the time being, her main point still remains viable.…

    • 826 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Source one gives information on the effects of financial teaching in schools and how it would benefit. Source two gives reasons as to why personal finance classes would be ineffective and would make little to no difference in just the classroom.…

    • 752 Words
    • 4 Pages
    Good Essays