{"id":23808,"date":"2026-01-08T01:29:11","date_gmt":"2026-01-07T19:59:11","guid":{"rendered":"https:\/\/www.sachdevajk.in\/?p=23808"},"modified":"2026-01-08T01:29:11","modified_gmt":"2026-01-07T19:59:11","slug":"spending-patterns-of-college-students","status":"publish","type":"post","link":"http:\/\/www.sachdevajk.in\/?p=23808","title":{"rendered":"Spending Patterns of college Students"},"content":{"rendered":"

Authors: <\/span><\/b>Aditi Patel – 021331025579<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>\u00a0<\/span>Sejal Jain \u2013 021331205406<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>\u00a0<\/span>\u00a0<\/span>Tarun Khatri – 021331025682<\/span><\/p>\n

Introduction:<\/span><\/b><\/p>\n

In today\u2019s digital and consumer-driven environment, individuals are exposed to multiple spending options through easy access to goods, services, and digital payment platforms. While spending on necessities and personal interests is unavoidable, unplanned purchases and poor expense tracking can lead to financial imbalance. Understanding individuals\u2019 spending behaviour is essential to evaluate how effectively they manage their monthly expenses and whether they are satisfied with their financial decisions.<\/span><\/p>\n

Objective:<\/span><\/b> To understand the spending patterns and expense management behaviour of individuals in their monthly financial activities.<\/span><\/p>\n

Literature Review:<\/span><\/b><\/p>\n

The Economic Importance of Financial Literacy (Lusardi, A., & Mitchell, O. S., 2014)<\/i><\/span><\/b><\/p>\n

This study explains that financial literacy is an essential life skill that influences how individuals make decisions related to saving, borrowing, and long-term financial planning. It highlights that people with higher financial knowledge tend to make better economic decisions, leading to improved financial well-being. The authors emphasize that financial education should be viewed as an investment in human capital, as it reduces poor financial choices and enhances overall economic outcomes.<\/span><\/p>\n

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Digital Payments and Consumer Spending Behaviour (Agarwal, S., & Chua, B., 2020)<\/i><\/span><\/b><\/p>\n

This study focuses on how the increasing use of digital and cashless payment systems influences consumer spending behaviour. It finds that convenient payment methods such as mobile wallets and digital payment apps encourage faster transactions and may lead to more frequent and impulsive purchases. The research suggests that while digital payments improve ease of spending, they also require greater financial awareness to manage expenses effectively.<\/span><\/p>\n

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Data Collection: <\/span><\/b><\/p>\n

For the above problem, five questions were framed using the Likert Scale<\/b>. A Google Form was created to collect responses from respondents. The data collected was used to analyze individuals\u2019 spending behaviour and satisfaction with their monthly expense management.<\/span><\/p>\n

The questions were answered using a 5-point Likert scale<\/b>, where:
1 \u2013 Strongly Disagree
2 \u2013 Disagree
3 \u2013 Neutral
4 \u2013 Agree
5 \u2013 Strongly Agree<\/span><\/p>\n

The following questions were included in the survey:<\/span><\/p>\n