GROUP 3 12- PACIOLI

Proposition:

There is a significant relationship between financial management practices

and online purchasing of students.

Introduction

Social media nowadays become a way of socializing since we can’t go

outside to communicate with friends due to the virus. Online Purchasing is

now convenient for people since it saves time and effort. On the other

hand, Youngsters nowadays are influenced by the trend online. Hence,

online purchasing has a lot of affordable to buy. For some reason, young

ones who are thoughtless of the object, they purchase as long as they are

one of the trends. Online Purchasing becomes a trend since COVID-19

started and youngsters depend only on their allowances. Applying financial

management practices be able to develop behavior towards online

purchasing with the essence of prioritizing the necessary needs rather

than purchasing unvaluable ones knowing that behavior is the action of

mentality in excessive online purchasing. According to Sumi and Ahmed

(2022), young consumers are a larger section and deep knowledge about

youngsters may direct marketers toward appropriate use of marketing

tools and strategies in the future. They can purchase products through the
mobile app and then collect them in the closest store. On the other hand,

consumers are browsing and buying across all channels and more active

on mobile devices than ever (CRITEO, 2018). As a student, they need to

spend more time for their study instead of finding a way to increase

income. The students were found have good financial management

practice because they are avoiding overspending of their money. The

result contributes to the university and particularly the academia to know

the students’ financial management practice and financial problem to

educate them in making a wise financial decision in future (Azer and

Aishah, 2018). According to Komal et.al (2017) students are an important

group that needs to be highlighted because they have less finance

management practices. According to Marquit (2017) states that the first

step to successful money management is understanding priorities.

Practices determine the difference between needs and wants. Before

spending money on what you wish you had, you need to make sure your

necessities are covered. The survey results, agreed that having a

relationship between financial management practices and online

purchasing of students assists their thinking and controlling of behavior

towards spending money in online purchasing.

The essence of having a control of student’s behavior towards online

purchasing, applying financial management practices has a contribution to

all respondents. Knowing that overspending of money affects the

allowances which the parents given in the priorities. Since students mostly

rely in their parents given allowances, students are not conscious about

the consequences of their actions towards excessive buying behavior. For

a student’s duty, students must think of prioritizing the academic

performances rather than spending in online purchasing. With the financial

management practices which develop the students behavior in online

purchasing, results to an awareness of the consequences of their actions .