Factors influencing spending habits among the College students in Phinma Coc
Name of Researchers
Majerle P. Alcoriza
Mary Joy Anito
Rhyza Mae Quijano Balatero
Hanami Callao
Princess Dacio
Nicole R. Fuentes
John Bragi L. Gutierrez Jr.
Jade Anne Salvador
Ayen L. Sarda
Gem Gabrielle N Tan
College of Management and Accountancy
Phinma Cagayan de Oro College
BAM069: Business Research
Rowena Puyo
August 2023
, CHAPTER l
THE PROBLEM
Introduction
Understanding the spending habits of college students is of vital importance in today's
swiftly changing economic climate. The transition from adolescence to adulthood is marked
by newly-acquired financial independence, which frequently influences long-term financial
habits. Therefore, understanding the factors that influence college students' spending habits
is essential for promoting financial literacy and stability. In an era marked by rapid
technological advancements and changing societal norms, understanding the spending
habits of college students has become a subject of growing interest. The financial decisions
made during this pivotal phase of life can have profound implications for future financial
stability and well-being. This research paper delves into the intricate web of factors that
influence spending behaviors among college students in the Phinma College of (Coc) and
aims to shed light on the underlying mechanisms that shape their financial choices. By
examining empirical evidence, this study seeks to contribute to a more comprehensive
comprehension of the financial behaviors of this particular demographic.
One of the prominent factors shaping spending habits among college students is
socioeconomic status. Research has shown that students from diverse economic
backgrounds exhibit varying expenditure patterns. Lower-income students may face
financial constraints that dictate frugality, while those from more affluent backgrounds
might indulge in discretionary spending. Additionally, peer influence exerts a considerable
impact on spending choices. Studies by Anderson et al. (2018) and Smith et al. (2018) have
highlighted the role of peer pressure and social comparison in influencing purchasing
decisions, particularly among college students. This paper aims to empirically investigate the
extent to which socioeconomic status and peer influence interact to shape spending
behaviors at Phinma COC.
College students' ability to make sound financial decisions is strongly correlated with their
level of financial literacy. The authors of this study are Lim, E. S., Fernandez, M. A., and
Name of Researchers
Majerle P. Alcoriza
Mary Joy Anito
Rhyza Mae Quijano Balatero
Hanami Callao
Princess Dacio
Nicole R. Fuentes
John Bragi L. Gutierrez Jr.
Jade Anne Salvador
Ayen L. Sarda
Gem Gabrielle N Tan
College of Management and Accountancy
Phinma Cagayan de Oro College
BAM069: Business Research
Rowena Puyo
August 2023
, CHAPTER l
THE PROBLEM
Introduction
Understanding the spending habits of college students is of vital importance in today's
swiftly changing economic climate. The transition from adolescence to adulthood is marked
by newly-acquired financial independence, which frequently influences long-term financial
habits. Therefore, understanding the factors that influence college students' spending habits
is essential for promoting financial literacy and stability. In an era marked by rapid
technological advancements and changing societal norms, understanding the spending
habits of college students has become a subject of growing interest. The financial decisions
made during this pivotal phase of life can have profound implications for future financial
stability and well-being. This research paper delves into the intricate web of factors that
influence spending behaviors among college students in the Phinma College of (Coc) and
aims to shed light on the underlying mechanisms that shape their financial choices. By
examining empirical evidence, this study seeks to contribute to a more comprehensive
comprehension of the financial behaviors of this particular demographic.
One of the prominent factors shaping spending habits among college students is
socioeconomic status. Research has shown that students from diverse economic
backgrounds exhibit varying expenditure patterns. Lower-income students may face
financial constraints that dictate frugality, while those from more affluent backgrounds
might indulge in discretionary spending. Additionally, peer influence exerts a considerable
impact on spending choices. Studies by Anderson et al. (2018) and Smith et al. (2018) have
highlighted the role of peer pressure and social comparison in influencing purchasing
decisions, particularly among college students. This paper aims to empirically investigate the
extent to which socioeconomic status and peer influence interact to shape spending
behaviors at Phinma COC.
College students' ability to make sound financial decisions is strongly correlated with their
level of financial literacy. The authors of this study are Lim, E. S., Fernandez, M. A., and
