Financially educated society tend to make better financial decisions. Nevertheless, individuals are seldom having a perfect financial knowledge. Behavioral economics admitted that individuals are not always rational and emotions can always affect decision making. Thus objectives of this paper are to investigate the financial problems among the students as well as their financial management practices. This is because the ability to manage personal finances has become increasingly important in both university and college in preparing their students with good financial management. Data for this study was collected through a self-administered questionnaire and distributed through purposive judgmental sampling method. A total of 369 questionnaires were completed and been analyzed using SPSS. The finding from the study shows that the financial problem occurs due to the inability of students to increase income. As a student, they need to spend more time for their study instead of finding a way to increase income. The students were found have good financial management practice because they are avoiding overspending of their money. The result contributes to the university and particularly the academia to know the students’ financial management practice and financial problem to educate them in making a wise financial decision in future.
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In-Text Citation: (Azer & Mohamad, 2018)
To Cite this Article: Azer, I., & Mohamad, S. A. (2018). Exploring Financial Management Practices and Problems among Students. International Journal of Academic Research in Business and Social Sciences, 8(12), 2472–2477.
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