Money attitudes and personal finance behavior of 242 college students were investigated. Data from two focus group interviews were also utilized for follow-up interpretation of survey results.
Respondents agreed with the statement that money is a impo...
Money attitudes and personal finance behavior of 242 college students were investigated. Data from two focus group interviews were also utilized for follow-up interpretation of survey results.
Respondents agreed with the statement that money is a important way of life. However, they didn't agree with the three other dimensions of money attitudes: symbol of success, way of social life, and means of safety. Result also showed that they depended on parents financially and they didn't make a financial plan nor consumption plan. Students spent most of their money for eating out, transportation, and social expenses.
Money attitudes had significant relationship with the some aspects of personal finance behavior of college students, but the relationship was not so strong. In sum, the findings of this study showed that college students should be motivated and trained for personal finance.