A Study On Money Management Skills Of College Students In Kerala

Abstract

Money Management is a grave concept dealt by the whole world. The younger generation are not much clear about the management of money. They are in the age of spending it on luxurious things, for social attention, etc. A proper guidance or knowledge on Money Management is essential for them to save the money for future. If they start using and saving the money effectively and efficiently it will help them in the future. The study was conducted among the college students to understand the money management. The questions were framed on the basis of the variables like Internet Information, Technology MM, Online education, Academic Work, Money attitude and Purchase Behaviour. How these variables affecting the Money Management and how these are related to the factors like Academic work, financial knowledge etc…The respondents were from various parts of the state. Around 260 responses were got. Among the 255 responses, 39.6% were males and 58.8 % respondents were females. Most of the respondents were from urban areas of Kerala. The age group of 18-23 constitutes the majority of respondents, comprising most participants, while only 14.6% fall into the above 24 age group. Primary data collection was employed as the method, and the instruments underwent evaluation through a five-point Likert scale ranging from strongly disagree to strongly agree. Simple Random Sampling is used to analyse the data. The analytical methods like Linear Regression Analysis, Correlation and ANOVA are used to analyse the data. This paper gives an insight to the areas what all factors positively and negatively influence the Money Management among the students.