PSYPACT- Practicing Over State Lines May 2024.pptx
Melina Mark.docx
1. Melina Mark
Niagara University
July 22, 2019
College Writing
This report's analysis of student’s spending behavior aims to determine:
- Provide some suggestions to improve their financial management.
- The factor that influence their spending habit
- Their source of income
- Their monthly spending habit
Based on the report's essential information, it is reasonable to draw the conclusion that the majority
of students receive financial support from family members and from part-time jobs. Besides that,
they spend an average of $100 to $200 per month, primarily on shopping and entertainment. In
addition, four key factors which are discounts, necessity, affordable price and emotions, have an
impact on their spending habits. In conclusion, it is essential to improve personal financial
management. Financial problems can be resolved through budgeting, planning ahead, avoiding
unnecessary spending, saving and investing money along with being a conscious consumer. Also,
it was determined that external factors affected their spending behavior. The recommendation is
to motivate students to pick up better financial management skills.
There are also those who have worked hard to obtain scholarships, and those who have
started their own business to earn income, however, the rate accounted for the least, accounting
for only 3.6%. As evidenced by the statistics in question 3, it is not only about the family's financial
2. condition, but also about the students' efforts and talents in job and study to acquire such a huge
sum of money. The pie chart shows the data about whether participants have any plans to reduce
their expenses. It reveals that 76% of the students have plans to reduce their expenses and 24% of
the students do not have plans to reduce their spending.
It's admirable that there are individuals who recognize how to save more money yet only account
for 27.3% of the overall.
The remaining 36% of the respondents choose to Track their spending.
