PERSONAL FINANCES OF

YOUNG UNIVERSITY
STUDENTS
BUSINESS COMMUNICATION

Description
This research investigates the personal finances of university students at the
University of Guanajuato and their economic status during this university stage.
Local and foreign students evaluate and interpret the management of money to
cover basic needs, research created by students to share and raise awareness of the
economic difficulties of university life.

PAULINA CALZADA GISELA RUBIO

pa.calzadasaucedo@ugto.mx
 Abstract

This work aims to understand in depth the spending patterns of students at the University of
Guanajuato, focusing on their disbursements within the institution, on student housing and
on their personal expenses. This research has been based on surveys meticulously designed
to capture the different economic facets that affect university life. It seeks to illustrate how
economic ups and downs can both adversely and beneficially influence a college student's
academic experience, as well as the overall quality of education. The results of this study
show that, compared to the general population, only half of the people have moderate
knowledge regarding their finances, this is worrying for a country that needs to develop.
 Introduction

The main objective of this research is to disseminate to young people and adults about the
importance of knowing the personal finances of young university students of the University
of Guanajuato of all majors, through surveys and interviews we were able to find out how is
the economy of young people both local and foreign who reside in Guanajuato Capital, the
purpose is to know, explore and share the experiences of young university students from the
point of view of finance from the point of view of their personal economies, with the support
of an expert professor in finance we were able to further explore the state and management
of the economy as well as an evaluation and perspective of it.

In the academic environment of the University of Guanajuato, the study of economics and
finance becomes essential not only as part of the curriculum, but as a daily reality for
university students. This research delves into the economic fabric of these young people,
exploring in detail how they manage their resources inside and outside the university
environment.

The fundamental of this work is to understand in depth the spending patterns of students at
the University of Guanajuato, focusing on their disbursements within the institution, on
student housing and on their personal expenses. With a specific focus on the different majors
that the capital of Guanajuato houses, this research has been based on surveys meticulously
designed to capture the different economic facets that affect university life.

The wealth of information obtained through these surveys has been further enriched thanks
to the valuable contribution of Jose Fernando Martinez Guzman, a finance expert from the
University of Guanajuato. His specialized insight has provided a broader and richer
perspective on the evaluation and interpretation of the data collected, as well as a deeper
understanding of the impact and implications of these financial trends on the daily lives of
college students.

It is essential to highlight that this study is not limited to cold data and statistics; It has been
forged from the experiences and coexistence of university students. With the purpose of
sharing these perspectives, this work aims to raise awareness among both youth and adults
throughout Guanajuato about the intersection between personal economy and educational
quality. It seeks to illustrate how economic ups and downs can both adversely and
beneficially influence a college student's academic experience, as well as the overall quality
of education.

Methodology
In order to better understand financial reasoning and the case of young people, we conducted
a survey aimed at assessing their understanding of key financial concepts. Specifically, we
focused on a majority group of university students, seeking to understand their degree of
familiarity with key financial terms and whether they are currently still involved in
investment or savings practices.

The aim of this research is to detect situations and obstacles that may be preventing young
people from positively managing their finances. We want to find out first-hand what
perceptions and common practices related to how money works among university students.

In addition, we have conducted interviews with an expert in the financial field to get an expert
view on individual finances. We hope that this expert will share essential insights that can
serve as a basis for promoting healthy financial habits among young university students. The
information gathered from these interviews will help us not only to understand key concepts
that people may not be fully grasping but also to identify practical tips and tactics to improve
their financial management.

The actions taken to promote financial education were conducted within the University itself.
We created signs and posters, which we displayed, and also shared them on social media to
reach a larger audience, including those beyond the university. We believe that understanding
and being informed about personal finances are of utmost importance for society. Through
these efforts, we managed to reach students from other campuses.
 Results
1. What career do you study?

The majority of those surveyed are studying for a degree in accounting with 33.33%,
followed by International Trade with 24% and in third place is industrial relations, only 1%
are currently working.

2. Age

89% of respondents are under 26 years old.

 3. Marital Status

A large percentage of respondents were single, 10% were married or living with a partner,
while only 1% selected "other".

4. Education level

Only 4% have a postgraduate degree, while 82% have a bachelor's degree.

5. Occupation

Of those surveyed, 55.6% are in full-time education and 26.3% are working and studying;
only 1% are unemployed.
 6. Monthly income

almost 65% of respondents have incomes greater than 3,000 Mexican pesos, but 8.1% have
incomes less than 500 Mexican pesos.

7. Do you have a monthly budget?

The great majority of respondents 47.5% do not have a monthly budget, however, 46.5% do
have a budget and only 6.1% don´t know what a monthly budget is.
 8. How would you describe your knowledge of personal finance?

58% of people have a moderate knowledge while 20% have a high knowledge of personal
finance.

9. Is someone financially dependent on you?

Only 21% of people have someone who is financially dependent on them.

10. Do you have personal savings?

More than half of the respondents have personal savings, only 30.3% have no personal
savings.
 11. If you have debts, approximately how much do you owe?

Of the 100 people who responded to the survey, 85 people responded that they had debts,
65% owed less than 1,000 Mexican pesos, 11% owed more than 10,000 Mexican pesos.

12. Do you make investments?

More than half of the people don’t make any type of investment, only 44.4% have any
investment.
 13. If you make investments, in what type of assets do you invest?

Of the 62 people who invest, the most voted assets were investment funds with 32%, bonds
with 27.4% and stocks with 19.4%, 37% invest in other types of assets that were not
mentioned in the survey.

14. Have you received formal education on personal finance?

52.6% of respondents mention that they have some type of formal education about personal
finances, however, a considerable percentage doesn’t have formal education.
 Conclusion

In conclusion, thanks to the completion of this project, we were able to appreciate different
points regarding the personal finances of the students. One of the interesting points is the
great misinformation regarding financial education, as seen in questions 6 and 14, only half
of the people have moderate knowledge regarding their finances, this is worrying for a
country that needs to develop further. It is seen that 70% of those surveyed have some savings
fund and that despite this, 85 of the 99 people interviewed have debts of more than 1000
pesos, all this due to poor administration

Something that should be done to solve these problems and support people to have a more
stable economy is to be able to adapt workshops and talks within the same university, so that
these talks and workshops are not only for the administrative economics division, but for
everyone. The campuses within the University of Guanajuato, this to promote and encourage
habits such as saving and creating awareness about people's own money and how not to get
into debt. Another interesting solution could be the creation of forums so that among the
same student society, advice or tips can be passed so that there is coexistence and better
feedback among everyone, also generating students with administrative knowledge.

Knowing and having a stable financial administration is very important for each of us as
individuals, there is always danger with debt in any situation or purchase and well, as
Professor Jose Fernando said, it is important to create habits and find a way to cope with
these situations and better yet, be able to avoid these types of problems. This is a topic that
we should all be aware of, it could also help us make productive investments to be able to
continue generating and have a better quality of life.
 References
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 Appendix I
Survey Questions
1. What career do you study?
2. Age
3. Marital Status
4. Education level
5. Occupation
6. Monthly Income
7. Do you have a monthly budget?
8. How would you describe your knowledge of personal finance?
9. Is someone financially dependent on you?
10.Do you have personal savings?
11.If you have debts, approximately how much do you owe?
12.Do you make investments?
13.If you make investments, in what type of assets do you invest?
14.Have you received formal education on personal finance?
 Appendix II
Interview Questions
Questions about Personal Finance Fundamentals:
1. What are the fundamental concepts that young people should
understand about personal finances?
2. What is the importance of setting short- and long-term financial goals in
a young person's life?
3. What strategies do you recommend to create an effective budget?
4. What is your opinion on savings? How can young people start saving,
even with limited income?
5. Questions about Debt and Credit:
6. What are the best practices to avoid falling into excessive debt and how
to manage existing debt?
7. What tips do you have for young people to use credit responsibly and
build a solid credit history?
8. Investment Questions:
9. What is the importance of investing money at a young age?
10.What types of investments do you recommend for young people who
are starting out, and how can they start with small investments?
11.What is your opinion on cryptocurrency investment for young people?
What precautions should they take?
Questions about Financial Education:
12.How can young people improve their financial knowledge and stay up
to date on economic issues?
13.What resources, such as books, blogs, or apps, do you recommend to
help young people learn more about personal finance?
General Tips:
14.What are the most common financial mistakes you see in young people
and how can they be avoided?
15.Do you have any specific advice for young people who want to start
their own business or project?
16.What final message or words of encouragement would you give to
young people looking to manage their money effectively and achieve
long-term financial stability?
 Appendix III
Action
Our action was to disseminate tips on social media on how to improve people's personal
finances, as well as the importance of managing finances well.
 Appendix IV
Link to the interview
https://www.youtube.com/watch?v=_I4w7YwuKGA&ab_channel=DiegoGarc%C3%ADa
Vargas