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Spending Habits of Mahidol University Demonstration School Students
Spending Habits of Mahidol University Demonstration School Students
Spending Habits of Mahidol University Demonstration School Students
English 10/04
June 5, 2019
All people have their own spending habits. Some could use more than others.
According to Kinasih (2016), about 80% of Thai people admit that they are aware of spending
money on somethings that are not necessary. The research also concludes that food and mobile
phones are what Thai people spend on the most. Students at Mahidol University International
Demonstration School are considered wealthier than the average Thai students due to the
tuition fees of the school. MUIDS students have good spending habits compared to teenagers.
The purpose of the research is to find the number of students in MUIDS who overs
spent their money allowance in a week. The importance of this research is to document the
spending habits of MUIDS students and also to bring awareness to the readers on the
importance of managing their money well. In the following research, the author cites three
academic researches, in order to gain more understanding of this particular research topic.
The first question asked how much money allowance do MUIDS students have per
week. The choices are 500 to 1000 baht, 1000 to 1500 baht, 1500 to 2000 baht, 2000 to 2500
baht, and 3000 baht or above. The figure 1 below shows that there are 15 students or 24.6%
have their money allowance up to 1000 to 1500 baht per week follows by 500-1000 baht,
1500-2000 baht, 2000-2500 baht, and 3000 baht or above with the percentage of 14 students
or 23%, 12 students or 19.7%, 11 students or 18% and 9 students or 14.8% respectively. The
second question asked do students at MUIDS overspent their money or not, and the choices
are either yes or no. Figure 2 below shows that only 18 students or 29.5% overspent their
PRASERTBOON
money, and the other 43 students or 70.5% manage their money well. Most of the students
have a weekly budget of 1000 to 1500 baht. Which according to the graph, they did not
overspend it. But those who overspend it only overspent it for about 1000 baht.
Each student in MUIDS has a different amount of money allowance per week and
different ways of how to use it. In a research by Messinger (2018), states that teenagers don’t
usually realize what they are spending money on. An important part of being successful with
their money is being able to track it. Furthermore, many students do not seem to notice about
the problem that leads by using too much money and not keeping track of it such as an
emergency problem. According to Lebowitz (2016), many teens will look to their parents
spending behavior and learn how to handle the cash. Parents can decide whether or not to spoil
a child by never say “no” to their kid when they are overspending. Tolar (n.d.), states that there
is a solution to this problem. Parents can prepare their kid for adulthood by not just giving
cash to their child, but make them earn it. By doing this teenager would learn how to use their
money properly.
As the conclusion of this report, most students at MUIDS did not overspend their
money allowance but instead they know how to manage their money. Money management
skills is important to them to balance their financial. If the students don’t manage their money
References
Kinasih, R. (2016). Research Round-Up: Kantar TNS & MarketBuzz Says 80% of Thais Are
Careful Spenders. Retrieved from https://ecommerceiq.asia/thailand-consumer-
spending/
Lebowitz, S. (2016). 4 things you're doing today that affect your child's wealth tomorrow.
Retrieved from https://www.businessinsider.com/how-parents-affect-kids-money
-management-2016-11