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Effective Budgeting Strategies for Students

This concept paper discusses budgeting strategies for students. It notes that students often struggle with budgeting their allowances and spending money without a plan. A common mistake is for students to not create and stick to a reasonable budget, which can result in running out of money before the end of the semester or school year. The goal of the study is to determine efficient financial management practices for students and help students and parents understand the importance of budgeting methods for daily financial management.

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Jolina Macorol
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679 views1 page

Effective Budgeting Strategies for Students

This concept paper discusses budgeting strategies for students. It notes that students often struggle with budgeting their allowances and spending money without a plan. A common mistake is for students to not create and stick to a reasonable budget, which can result in running out of money before the end of the semester or school year. The goal of the study is to determine efficient financial management practices for students and help students and parents understand the importance of budgeting methods for daily financial management.

Uploaded by

Jolina Macorol
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
  • Background of the Study

Concept Paper

BUDGETING STRATEGIES FOR STUDENTS

BACKGROUND OF THE STUDY

Student budgeting mostly relates to controlling financial outlays within the allocated

budget. Students' conduct is dynamic and distinctive from one another due to a number

of factors. These variables may be technological, psychological, and under your control

or out of your control. Student’s inability to plan their spending and save aside a

sufficient amount each month for unforeseen expenses represents their biggest

challenge. The majority of kids are accountable to their parents for their spending and

receive a monthly allowance from them. A student's academic success can be greatly

influenced by their family's level of income however this should not be used as a

justification for poor performance . According to Amanda Daper (2017), a common

mistake that students make was not creating and sticking with a reasonable budget.

Students who do not create and stickto a reasonable budget run the risk of running out

of money before the end of the firstsemester or the end of the school year.

This study is to determine the most efficient financial management practices among

students. The majority of pupils struggle with budgeting their allowances some have a

tendency to do so while others do not. The goal of this study is to help students

understand the significance of having budgeting methods in their day-to-day financial

management. This study also enables parents to help their children budget any money

they provide them.

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