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The paper aims to determine factors that predict financial problems between male and female Malaysian college students.
Using the stratified sampling method, 2, college students at six public and five private colleges were studied. A self-administered questionnaire was used as the data collection method.
Multiple regressions were obtained to determine which predictors had a significant effect on financial problems among male and female students. Although for male students financial socialization has a negative effect on financial problems, it is not significant among female students.
In order to understand gender differences in financial behavior and outcomes, the way in which males and females understand money must be examined. College students may be considered as a high risk group based on economic stability and consequently, well-being, due to their propensity to borrow to find their college education.
Recent college graduates carry a considerable debt load and financial problems at the time when they are just beginning to work in careers at beginning salaries Leach, Hayhoe, Turner, Financial problem as direct output of negative financial behavior has been a topic of interest among financial researchers.
Whereas a great body of research has focused on the factors predict financial behavior of people in the Western context, research in a non-Western context is still relatively sparse.
The present study is an effort to enhance the literature by examining the effect of several factors on financial behavior outcomes in a non-Western context, that is, Malaysia. Malaysia is considered a multiethnic country with Malay, Indian and Chinese ideology, and a multicultural society with a mixture of Muslims, Hindus and Buddhists.
Nevertheless the common characteristic of the three ethnic groups is patriarchal and moderately traditional, where men are socialized to undertake the role of the breadwinner in the family and women that of caregivers Lim, Teo, Loo, Malaysia has experienced rapid economic development over the last five decades, which has brought intensive changes for young Malaysians, such as expansion of financial market and an increase in higher education enrolment.
With the increasing cost of a college education, students find themselves in precarious fiscal situations. What complicates these financial problems are class workloads, the desire of many students to become more financially and personally independent from their parents and the distance from their homes and support network. Admit the problem and explain how will you get that help. Note: Lack of awareness of withdrawal policies, requirements for satisfactory academic progress or unpreparedness for college coursework will not be accepted as reasons for the purpose of an appeal. Dec 09, · The No. 1 reason many young adults drop out of college is an inability to juggle school and work, according to a report released Wednesday morning. When choosing between a .
In addition, a higher percentage of females between 20 to 34 are unmarried and tend to marry late Zainab, Because of this, gender disparity in the Malaysian context may be smaller in educational segment; nonetheless, differences still exist in attitude and behavior due to disparities during socialization and gender role expectations.
Taken together these factors make gender studies in economic issues essential in order to understand the differences in the determinant factors of male and female financial problem. Thus, the primary aim of the present study is to determine gender differences in factors predict financial problem among Malaysian students.
However identifying gender differences in determinant factors of financial problems provides a better understanding of male and female differences in financial management and educational needs. Sample Procedure and Profile This study examines the determinants of financial problem of college students by assessment the effect of financial socialization, primary socialization agents, secondary socialization agents, spendthrift money attitude, conservative money attitude and financial behavior.
This study was carried out under the IRPA funding. Data was collected using stratified sampling method among college students in six public and five private universities. Self administered questionnaire was used as data collection methodology. Of all of respondents The mean age of the respondents was 21 years.
In terms of ethnic, more than half of respondents Instruments To measure financial problem nine items were used on a 4 point Likert scale from Never 0 to everyday 4 and focused on issues such as budgeting and skipping meal. Financial socialization scale was involved 10 financial practices on scale of 0 Never to 5 after 18 years old given the age students were participated in financial practices.
To measure the effect of socialization agents an instrument included 11 items were developed, in which father, mother, siblings, religion and school, were considered as primary socialization agents, and peer group, mass media, magazine, advertisements, the Internet, and mobile phones were considered as secondary socialization agents.
To assess the influence of each item, respondents were required to rate on a scale from 1 not influence to 10 the most influence on eleven items. A 3-items instrument was developed to measure the conservative money attitude. Results The results presented in Table 1indicate that among male students five factors significantly explain Spendthrift attitude and secondary socialization agents have a positive effect, while conservative attitude, financial socialization and financial behaviour have a negative effect on financial problems.
Among female students four factors significantly explain Results presented in Table 1 indicate that spendthrift attitude and secondary socialization agents have positive effect on financial problem while conservative attitude and financial behaviour have negative effect on financial problem.The influence of childhood consumer experience and financial socialization agents on savings and financial problems was more mixed, indicating that financial experience before college may create bad habits or poor attitudes toward financial management that could be mitigated through financial education during college.
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Learn More. Learn More. About the Author. Financial problems lead some students to make difficult choices, the survey found. Nearly three out of 10 students said they reduced their class load because of the money they owed, while 16 percent took a break from their college or university and 13 percent transferred to another institution.
Application of accounting techniques to simple problem situations involving computations; Most textbooks used in first semester college-level financial accounting courses cover the topics in the outline given earlier, but the approaches to certain topics and the emphases given to them may differ.
Financial and Managerial Accounting. FAFSA form - FAFSA on the Web - Federal Student Aid. Lack of budgeting, credit card debt, and misusing student loans are just a few of the top money mistakes college students make.
Lack of budgeting, credit card debt, and misusing student loans are just a few of the top money mistakes college students make. College students face many hard financial decisions when it comes to managing .