The Effect of Financial Management Between Married and Single Students - Semester III Section 2011/2012

1.0

Introduction

Money is needed in all aspects of our daily lives, particularly to facilitate the work in the field of economic complex in the modern world. Money plays an important role

allow us to meet most current needs in life. Without money, a lot of needs and services can not be met. many people agree that money is a medium to gain comfort and

safety of life, happiness and well-being, other than to meet physiological needs of life.

According Faudziah et.al (2005), finance actually is an art and science to manage money and financial management involves the use of various theories of economic and accounting goals to achieve firms and individuals.

Money for a student just like other human beings. students, particularly of high levels need money to cover the costs of learning and living at the university. However, the cost of higher education in IPTA and IPTS increasing day by day. According to Siti Alida et.al (2006), this happened due to the impact of rising costs, and changes in policy orientation and funding education at all levels. Financial needs while at school and in educational institutions high is different. Expenditure on primary and secondary usually borne by the parents and get help from the government. However, different scenarios will be experienced when students begin into university. Financial requirements were much higher than needed in primary schools and secondary schools.

Among the costs arising including study fees, books and learning materials, and accommodation, travel, clothing, and petrol.

1.1

The background

Education and manpower development planning Comprehensive has become an important agenda in the development process in Malaysia. Education is also a long-term investment in the development human capital. The goal is to produce knowledgeable human resources, skilled and dynamic for economic development. It is recognized as one of the human investment with a profit or economic benefits and contribute to national wealth. Therefore, no wonder why the government allocate money for this education. in the Star Malaysia (13 April 2006), the Prime Minister announced in presentation of the Ninth Malaysia Plan (RMK-9) an allocation of RM50.6 billion for education and training.

Although the field of education provides a high added value to prosperity and progress, all parties must realize that education especially higher education is not free. It no longer can be borne entirely by the government. University corporatization policy also resulted in higher learning institutions

forced to fund through its own resources in addition to government assistance. by Thus, the cost of education in terms of fees, academic books and ingredients assignments on the rise. Likewise the cost of living high, especially in big cities. It is undeniable that figuring out how to source Finance to study the subject that often interfere minds of parents, especially students pursuing higher education and come from a modest family background and the poor.

To ensure that all people get a balanced education, the government and non-governmental organizations had offered an education loan scheme and scholarships for students who wish to pursue higher. PTPTN example, MOE, PSD, and MARA. However, the Comments by Alida et.al (2007), government funding to students in the high has undergone significant changes in the past ten years the aviary, in any government assistance in the form of scholarships reduced and replaced with the student loan program. Loans and scholarships are for cover tuition fees, accommodation and living expenses of students in university.

However, loans and scholarships given to students is limited. Moreover, today we are burdened with higher prices for goods requirements dramatically. This is to some extent also affect financial position of students. In this case, prudent financial management by the students can help their lives in the university well. For students who financial control of the wise, they may be able to do a little savings for use in the near future. Instead, students will have with various problems if not able to manage financial resources well earned. \ 1.2 Problem Statement

As mentioned earlier, the cost of higher education expenses days has increased and is no longer borne by government. Apart from the need to withdraw money for the purpose of learning buy educational materials, stationery and so on, students were also impressed with sharp increase in prices of essential items like food and other again today. This indirectly also affect the management student finance. As a result of limited financial resources and expenditure and education is increasing, it is possible that some students who

related to the financial problems in life daily. Thus, a study on student financial management needs to be done for identify the financial resources of students and how the form their spending further identifies the financial problems they face while studying at university.

1.3

Purpose Statement management of

The objective of this study was to examine the general financial

Married and Singgle Students Semester III - Section 2011/2012 UTMIC in particular objective of this study are: 1. 2. 3. To know the main sources of student financial To identify the form of student expenses. To identify the financial problems faced by students.

1.4

Research Question developed a question

Based on the objectives of the study, researchers have study to facilitate the achievement of set objectives. Among them are:

1. 2. 3. 4.

How financial management for married students and single students Is married and single studentss income enough to spending for a month. How to solve the financial problems Does financial problems can interfere with the performance of students

1.5

Scope of Study

The report covers students awareness of the importance proper financial management, knowledge of the credit management and Identify the needs of themselves and their families

2.0 R1

Findings/Result

How financial management for married students and single students

MARRIED STUDENTS

Refer to the a survey conducted by the 30 respondents randomly using a descriptive questionnaire as an instrument. This questionnaire consists of two main parts, part A and part B, which consists of 34 items related to the research objectives of the financial resources and expenditure of the financial problems of students. Data was analyzed using computer software. Figure 6.0 shows that provided to a number of things such as, personal, entertainment, saving, study and holiday. From the study found a total of 8 people chosen holiday, 1 person choosen a personal need, 4 people choosen saving, 3 people choosen study and 5 people chosen entertainment for provision RM 50.00. for provision from RM 51.00 to RM100.00, 13 people allocated to personal needs, 9 people for entertainment, 8 people for saving, 7 people to study and 6 provides for the holiday. For spending from RM 101.00 to RM150.00, 1 person allocated to personal needs, 7 people for entertainment, nil for saving and holiday, and 6 people allocated to study. However 1 person choosen RM151.00 and above for personal needs. Figure 7.0 shows that provided to a number of things such as, study Fees, Credit Card, Own Resident, Rent Resident and Loan. From the study found a total of 12 people has chosen study fees, 5 people has chosen credit card, 9 people have chosen own resident and 7 people have chosen loan for provision RM 500.00 For spending from RM 501.00 to RM1000.00, 4 people has chosen study fees, 1 person has chosen credit card, 5 people have chosen own resident, 2 people have chosen Rent Resident and 2 people have chosen loan. For spending from RM 1001.00 to RM1500.00, 1 person allocated to credit card.

SINGLE STUDENTS

Figure 8.0 shows that provided to a number of things such as, personal, entertainment, saving, study and holiday. From the study found a total of 8 people chosen holiday, 5 people choosen a personal need, 9 people choosen saving, 5 people choosen study and 3 people chosen entertainment for provision RM 50.00. for provision from RM 51.00 to RM100.00, 7 people allocated to personal needs, 11 people for entertainment, 4 people for saving,

6 people to study and 6 provides for the holiday. For spending from RM 101.00 to RM150.00, 1 person allocated to personal needs, nil for entertainment and holiday, 1 person allocaters for saving and 3 people allocated to study. However 1 person choosen RM151.00 and above for personal needs. Figure 9.0 shows that provided to a number of things such as, Study Fees, Credit Card, Own Resident, Rent Resident and Loan. From the study found a total of 12 people has chosen study fees, 10 people has chosen credit card, 3 people have chosen own resident and 5 people have chosen loan, and 9 people have chosen Rent Resident for provision RM 500.00 For spending from RM 501.00 to RM1,000.00, 2 people has chosen study fees, 2 person has chosen credit card, 2 people have chosen own resident, nil have chosen Rent Resident and 5 people have chosen loan. For spending from RM 1001.00 to RM1,500.00, 1 person allocated to credit card.

R2

Is married and single studentss income enough to spending for a month.

Random survey of 30 respondents have shown the financial management of married students are more organized than singgle students. This fact reinforced by the analysis conducted on the questionnaire where students are married expenses do not exceed the total income.
Married students financial management more systematic and robust because it has two sources of income of the husband and wife. is taken into consideration as a result of feedback of all respondents who are married have spouses who have monthly income. This situation is different when compared with singgle students where they spend only using one source only do part time, which can increase the monthly income.

R3

How to solve the financial problems

Refer to chart 10.0, According to our research, married and single students took several steps if they have a short of cash. They have chosen to borrow from several parties such as parents, relatives, siblings, friends and loan/along. from the results of analyzes conducted, we found that 19 respondents chose family as the preferred choice if they are experiencing financial difficulties, this represents 63% of the respondents. respectively, while 3 respondents choosing friends, relative and siblings as financial solution problems. This represents 10% for each option. and the remaining 2 respondents chose loan / Along for their quarterly financial solution which represents 7% of the respondents.

R4

Does financial problems can interfere with the performance of students

From studies conducted at random, we found financial problems can interfere with the performance of students if improper financial management. This is evident from the pie chart 17.0. of this chart by 43% singgle students obtained CGPA between 2.01 to 2.50 compared to married students where the lowest percentage of 25% for CGPA 2.51 to 3.00 56% married students and 29% of singgle students obtained CGPA 3:51 to 4:00

3.0

Conclusion

From a study conducted on 30 respondents in respect of financial management for students UTMIC 2011/2012, as mentioned earlier the purpose of this study was to find out How financial management for married students and single students and Is married and single students's income enough to spending for a month.

Conclusions of this study, we found that married students income is higher than income singgle student. the study found that married students more carefully and more efficient in spending compared with singgle students. proper financial management can also affect students' performance. from this analysis we found that most married and singgle students will get financial support from the Parents if you have a problem short of cash.

3.1

Recommendations to solve the problem financial management 3.1.1 spend less on credit if you spend on credit, you miss the opportunity to spend in the future to spend now. you also have to spend more than the actual value of having to pay interest. when using the services on credit make sure you do not spend more than 20% to 25% of your net income. try to avoid rather than borrowing along or unlicensed financial agencies

3.1.2

Measures smart financial management e-evaluate your financial situation by reviewing the income and expenditure,

developing financial targets to be achieved, developing budgets, review financial planning such as identifying needs and desires, make choices and alternatives, to postpone spending less important

3.1.3 * * * * * *

Tips to improve financial Always spend within your budget. credit card debt. have a savings plan. maximize the facilities provided by the employer. re-evaluate your insurance coverage. spending less than what is obtained. solicitation of an offer (compare prices). Do not buy if you can borrow or rent. savings in the use of utilities.