Assessment of spending habits of Hospitality Management students in Central Luzon State University
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Date
2023
Authors
Milca D. Barcenas, Shalimar Joy G. Lastimosa, Karen V. Laureta & Krysz Allain A. Villanueva
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Abstract
This study provided as assessment of the spending habits of BS Hospitality Management students in central Luzon State University, Nueva Ecija using a mixed method design. A total of 120 respondents participated in the study. Specifically, it determined the sociodemographic profile of the respondents, the allotted percentages from their allowance on food, laboratory requirements, personal needs, and transportation, the items where the respondents mostly overspend their allowance in terms of clothes, fast food restaurants and cafeterias, including the reasons and effects of their spending habits. this study used the survey questionnaire as the primary instrument wherein 30 students from each year level (first year to fourth year) were selected purposely.
Results revealed the most of the respondents belonged to 20 to 21 years old, mostly female, families of two (2) siblings, received a weekly allowance of P500-1000, and mostly Tagalogs. On mother's occupation, most of their mothers were unemployed while on father's occupation, most of their fathers were self-employed. Moreover, most of the students spent their allowances on food expenses. In terms of physiological needs particularly in foods, most respondents prefer to cook their lunch in their dorm/ apartment. The respondents have strongly agreed to have been commuting when going to school. On safety needs factor particularly in education, most of the respondents strongly disagreed on allotting money on laboratory expenses and most of them agreed to be spending some of their allowance to buy vitamins and medicines.
The study concludes that students have their own budget hacks that became effective for them such as refraining from buying unnecessary things, cooking their food, bringing their lunch instead of buying at the canteen, saving money into a piggybank, and always bringing with them only the exact allowance they need for the day.