Saving and Spending Attitudes of College Students

Aims: To determine the saving and spending attitudes of college students.

Study Design: Descriptive and semi-quantitative.

Place and Duration of Study: Malita, Davao Occidental, Philippines during the first semester of 2019-2020

Methodology: The respondents of the study were chosen using the Slovin formula. One hundred thirty-three college students were involved. Data were gathered through an adapted survey questionnaire.

Results: Generally, the mean age of the respondents was 20.54. Most of them were female. The respondents saved money regularly for emergency use. Their parents were their usual source of money and they kept their savings in the piggy bank. The money they obtained was commonly spent on school projects. Others did not have savings due to lack of money. Only few of the respondents deposited their savings in the banks. It was also found that age determined the saving attitude. Conversely, if considered individually, saving attitude had no significant difference with gender and marital status but when grouped together, saving attitude had significant difference with gender and marital status. It implicated that saving money should be introduced early among the children.