Financial Problems

Financial problem is a term that generally refers to a mismatch between financial resources and demands (Kerkmann, Lee, Lown, & Allgood, 2000). The university students are the common groups that never have a stable spending behavior. Many students are experiencing being on their own for the first time without feeling the comforts of home. The most challenging for them is budgeting in their money spent. The live in a university is a change from childhood into adulthood that makes students life more challenging and tougher because they need to make their decision on their own. As the ages past, clothes, book stationaries, and other similar items for study were bought by the students. Nowadays, the need of students have increased for sure when

Teenagers are more likely tend to buy this items even though knowing that it is not the necessary things to buy. The students are particularly attracted to buy gadgets that are known to be costly. They also more likely spent on shopping for clothes, shoes and bags that they think it is a crucial items because they want to look nice going to classes. The new college graduates carry a considerable debt load and financial problems when they are just beginning to work in careers at beginning salaries (Leach, Hayhoe, Turner, 1999). Moreover, majority of the university students are likely to take food outside of their restaurant in their college. The most popular food among them is the fast food restaurants such as Dominos Pizza, Kfc, and McDonald. This restaurants have some advantages compared to the cafeteria in the college. Not only for giving point in their fast service, the cleanliness and quality of their foods are better. The cafeteria does not emphasize cleanliness making the food poisoning commonly occur. As we know, students indeed need a WiFi connection in order for them to finishing their assignments or lab reports. The fast food restaurants have the condition. Even though the foods of the fast food restaurants are more expensive, they did not really care as long as they can get their meals faster. Besides, the students that

The financial knowledge is highly influence the financial decisions (Chen & Volpe, 1998) which is similar with the research by Peng et al. (2007), they have found that students that have higher levels of financial literacy made good spending decision in hypothetical circumstances. To avoid any debt and wasteful spending that can lead to financial soundness, financial prudence could enlighten the future among the youth and generate the income (Pillai et al.,