The document discusses several studies that examined the importance of budgeting for students' financial well-being. It describes how students who learned budgeting skills were better able to manage their expenses. Creating a budget helps students prioritize needs over wants and avoid overspending. Financial education programs can improve students' financial behavior and ability to plan budgets.
The document discusses several studies that examined the importance of budgeting for students' financial well-being. It describes how students who learned budgeting skills were better able to manage their expenses. Creating a budget helps students prioritize needs over wants and avoid overspending. Financial education programs can improve students' financial behavior and ability to plan budgets.
The document discusses several studies that examined the importance of budgeting for students' financial well-being. It describes how students who learned budgeting skills were better able to manage their expenses. Creating a budget helps students prioritize needs over wants and avoid overspending. Financial education programs can improve students' financial behavior and ability to plan budgets.
The document discusses several studies that examined the importance of budgeting for students' financial well-being. It describes how students who learned budgeting skills were better able to manage their expenses. Creating a budget helps students prioritize needs over wants and avoid overspending. Financial education programs can improve students' financial behavior and ability to plan budgets.
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1.
Susanto and Alimbudiono (2019) research findings show’s that students of
“Excellent” group were interested in and highly mastered the budgeting course, thereby most of them made a budget and performed a simple variance analysis. On the contrary, students of the “Adequate” group were less interested in learning the course so they did not get the benefits of its learning. REFERENCE: Susanto, F. D., & Alimbudiono, R. S. (2019). Budgeting Application for Personal Financial Planning Among Students Majoring in Accounting. Proceedings of the 2ndPadang International Conference on Education, Economics, Business and Accounting (PICEEBA-2 2018). https://www.researchgate.net/publication/333399401_Budgeting_Applicaton_For_Person al_Financial_P lanning_Among_Students_Majoring_In_Accounting.
2. A study conducted by FSA (2014) budgeting is crucial in ensuring that students
can cover their educational expenses while also saving for the future. By creating a budget, students can prioritize their needs and balance it with their wants. This approach helps them avoid overspending and accumulating unnecessary debt. REFERENCE: Federal Student Aid. (2014). Budgeting. Retrieved from https://studentaid.gov/resources/prepare-for- college/students/budgeting.
3. The research conducted by Fernandes et al. (2014) demonstrates the positive
impact of Financial Education Programs on the financial behavior of students. In their research, they found that students who underwent these programs were better able to plan their budget, make decisions on proper spending, and manage their financial aspects for the future. Overall, this study confirms that Financial Education Programs play a crucial role in improving the financial behavior of students. With proper implementation and support from schools and various sectors, these programs can bring about positive changes in the future of youth towards a more secure livelihood in the financial realm. REFERENCE: Fernandes, D., Lynch, J. G., & Netemeyer, R. G. (2014). Financial literacy, financial education, and downstream financial behaviors. Management Science, 60(8), 1861-1883
4. According to the study conducted by Matriano (2021) majority of students
claimed to save money well; they often don’t spend it on unimportant things and limit their spending on key items. The participants also mentioned that they leave their extra cash in their homes to save up for future costs in order to avoid spending it carelessly. Furthermore, students claim that they learned how to save money from their parents because they believe that it is beneficial for them to understand how to manage their finances. REFERENCE: Matriano, E. A. (2021a). QUALITATIVE INQUIRY ON MONEY SAVING AND BUDGETING PRACTICES AMONG COLLEGE STUDENTS UNDER SCHOLARSHIP PROGRAM. ResearchGate. https://www.researchgate.net/publication/350387481_QUALITATIVE_INQUIRY_ON_ MONEY_SAVING_AND_BUDGETING_PRACTICES_AMONG_COLLEGE_STUDE NTS_UNDER_SCHOLARSHIP_PROGRAM.
5. According to Kevin Lee (2017) of Medium.com in his article about the
Importance of Providing Allowance to Children and Teaching them about Money, it is crucial to educate children about money at an early age because it provides a good foundation for them to learn the true value of money and the importance of budgeting. Additionally, it can also pave the way for them to effectively manage their finances in the future, which is particularly relevant for students who are learning to budget their expenses. REFERENCE: Lee, K. (2017). The Importance of Providing Allowance to Children and Teaching them about Money. https://www.coursehero.com/file/75832483/RESEARCH-FILIPINOdocx/ FOREIGN STUDY 1. There is a motion that is working on teaching basic personal finances to high school students before they graduate. A budget is clearly the key to succeeding financially. Students think that a way to pay for college is student loans, but there are other options like scholarships, financial aid or work options. Some can take investing classes where students can learn the process of investing and budgeting. As a student there are also other things to spend on, it can be wants or needs not just school supplies. Most people recommend parents to have a long-term planning for their teen. (Caldwell, 2017). REFERENCE: Caldwell, J. (2017). Teaching Basic Personal Finances to High School Students: A Motion for Financial Literacy Before Graduation. Journal of Education and Finance, 12(3), 45-56. https://www.coursehero.com/file/28887147/CHAPTER-2docx/
Students That Are Given The Responsibility To Manage Their Own Expenses Coupled With A Higher Cost of Education Puts The Students in A Situation That It Is Vital To Live On A Restricted Budget