Skills of First Year Financial Management Students in De La Salle Lipa

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College students take a lot of time to successfully manage their personal finance. The ability to manage personal finances has become very important in our world today. Hira (2009) states that financial education is much demand in a wide range of entities including banking companies, government agencies and community interest groups, universities, schools and other organization. It measures the capacity of the individual on how to cope a problem related to personal finance.

This study was designed to evaluate the financial management skills regarding on handling their personal finances. In this study, a test of the skills of financial management students was examined. The survey will be conducted on De La Salle Lipa students. It covers advantages of money management of college students, steps in managing personal finance, studies in other countries regarding the finance of college students and lastly, women and men regarding on handling their personal finances. This shows that having knowledge about their personal finance is important. This will prove that having less knowledge regarding this tends to make incorrect decisions like their savings. This study will determine the student if they will be a good financial decision maker.

The purpose of this research is to know what the financial management skills are applying by the first year students that help them in the near future. More literate on this topic could prove useful to become a good decision maker in handling money that is one of the qualities of financial management students.

This paper was based on a study conducted by Adams & Moore in 2000, Avara, Manton, English & Walker in 2005 and Chen & Volpe in 1998. The focus of their study was on how the college students ha...

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...their managing skills in handling money.

Works Cited

Bialaszewski, D., Pencek, T., & Zietlow, J. (1993). Financial requirements and computer utilization at AACSB accredited schools. Financial Practice and Education, Fall, 133-139.

Danes, S. M., & Hira, T. K. (1987, Winter). Money management knowledge of college students. The Journal of Student Financial Aid, 17(1), 4-16.

Gitman, L. J., & Bacon, P. W. (1985). Comprehensive personal financial planning: An emerging opportunity. Journal of Financial Education, Fall, 36-46.

Volpe, R. P., Chen, H., & Liu, S. (2006). An analysis of the importance of personal finance topics and the level of knowledge possessed by working adults. Financial Services Review, 15, 81-99.

Chen, H., & Volpe, R. P. (1998). An analysis of personal financial literacy among college students. Financial Services Review, 7(2), 107-128.

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