A Quantitative Study on Expenditure Behavior among Public and Private University Students in Malaysia
Abstract
The principal point of this study is to examine the relationship between the spending pattern and consumer behavior, especially as it relates to income and financial literacy, among public and private university students in Malaysia. This study adopts Keynes's Psychological Law of Consumption theory. The foremost objective of this theoretical paper was to determine whether there is any difference in spending patterns among public and private university students and the association between parental incomes and spending behavior among public and private university students, as well as to examine the relationship between financial literacy and spending behavior among public and private university students. In addition, this study seeks to determine how well students comprehend the idea of needs and desires. The association between students’ degree of financial literacy as well as their income and their spending habits will next be examined using the data. The link between endogenous and exogenous variables will be determined over both the long and short terms using the Statistical Package for the Social Sciences (SPSS) version 23. The study includes the findings from earlier investigations. The study contributed to a new understanding for the researcher of financial behavior under the categories of needs and wants which outline the importance of financial literacy, parents’ income, and demographic factors. The study also contributes to a new idea for policymakers: adapt financial literacy programs among parents and children.
Downloads
References
Ana, S. M. S., & Marhaini, W. W. M. (2020). Financial Literacy Among Malaysian Muslim Undergraduates. Journal of Islamic Accounting and Business Research, 11(8), 1515-1529.
Esmail Alekam, J. M., Madya Salniza, M.S., & Sany Sanuri, M.M. (2018). The Effect of Family, Peer, Behaviour, Saving And Spending Behaviour On Financial Literacy Among Young Generations. International Journal of Organizational Leadership, 7, 309-323.
Falahati, L., & Paim, L. H. (2011). A Comparative Study in Money Attitude Among University Students: A Gendered View. Journal of American Science, 7(6), 1144-1148.
Ida, S. B., Haizal, M. J., Aizi, M. M. S., & Noor, N. H. 2020 (2020, September). The Students Spending Pattern on Non-Academic Items Towards Food and Beverage Lead to Poor Financial Management. In International Conference on Student and Disable Student Development 2019 (ICoSD 2019) (pp. 60-62). Atlantis Press.
Jalil, N. A., Yusof, H., Rambeli, N., Samsudin, N., & Zakariya, Z. (2015). The Expenditure Behaviour of the Economic Literates. International Business Education Journal, 8(1), 95-104.
Kassim, A. A. M., Tamsir, F., Azim, Z. A. Z., Mohamed, J., & Nordin, H. N. M. (2018). Determinants of Saving Behaviour: An Empirical Study among Private Universities Students in Selangor. Asia Proceedings of Social Sciences, 2(2), 84-88.
Kenayathulla, H. B., Nair, S., Rahman, M. N. A., & Radzi, N. M. (2020). Financial Literacy of Undergraduate Students In Selected Malaysian Higher Education Institutions: A Way Forward To Policy Recommendation. MOJEM: Malaysian Online Journal of Educational Management, 8(3), 82-102.
Lyn, S. H. M., & Sahid, S. (2021). Economic Literacy and Its Effects on Students’ Financial Behaviour at Malaysian Public University. International Journal of Academic Research in Business and Social Sciences, 11(8), 736-750.
Manju, R. (2016). Trends in Spending and Money Management Practices among Students of Kerala. International Journal of Research, 39, 39-47.
Nizad, A. A. H., Yakob, R., Hafizuddin-Syah, B. A. M., & Baharin, R. (2018). Indeks Sara Hidup Pelajar: Kajian Kes di Kolej Pendidikan Antarabangsa (INTEC). Jurnal Personalia Pelajar, 21(1).
Petpairote, W. (2023). Financial Skill and Self-Control Affecting the Saving Behaviour of Income Earners in Thai Municipalities. International Journal of Innovative Reserch and Scientific Studies, 6(1), 64-71.
Shahryar, S., & Tan, S. T. (2014). Spending Behaviour of a Case a Asian University Students. Asian Social Science, 10(2), 64-69.
Xiao, J. J., & Porto, N. (2019). Present Bias and Financial Behaviour. Financial Planning Review, 2(2), e1048.
Xiao, J. J., Ford, M. W., & Kim, J. (2011). Consumer Financial Behaviour: An Interdisciplinary Review of Selected Theories and Research. Family and Consumer Sciences Research Journal, 39(4), 399-414.
Zahari, S. A., & Wahid, H. (2020). Literasi Kewangan Dan Kesannya Terhadap Gelagat Perbelanjaan Mahasiswa Di Universiti Kebangsaan Malaysia. Jurnal Personalia Pelajar, 23(1). 27-43
Zulfaris, M. D., Mustafa, H., Mahussin, N., Alam, M. K., & Daud, Z. M. (2020). Students And Money Management Behaviour of a Malaysian Public University. The Journal of Asian Finance, Economics and Business, 7(3), 245-251
Copyright (c) 2023 Kavithanjali Sandrasegaran, Norimah Rambeli
This work is licensed under a Creative Commons Attribution 4.0 International License.
Author (s) should affirm that the material has not been published previously. It has not been submitted and it is not under consideration by any other journal. At the same time author (s) need to execute a publication permission agreement to assume the responsibility of the submitted content and any omissions and errors therein. After submission of a revised paper in the light of suggestions of the reviewers, editorial team edits and formats manuscripts to bring uniformity and standardization in published material.
This work will be licensed under Creative Commons Attribution 4.0 International (CC BY 4.0) and under condition of the license, users are free to read, copy, remix, transform, redistribute, download, print, search or link to the full texts of articles and even build upon their work as long as they credit the author for the original work. Moreover, as per journal policy author (s) hold and retain copyrights without any restrictions.