Spending Habits of Students

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A British English definition says “spending is related to the amount of money that is spent by a government or a large organization” (www.macmillandictionary.com, January 2014) and is the act of spending or disbursing money (spending.askdefine.com, January 2014). Habit—in psychology, is defined this way: “A habit, from the standpoint of psychology, is a more or less fixed way of thinking, willing, or feeling acquired through previous repetition of a mental experience (“The American Journal of Psychology”, 1903), and “a settled or regular tendency or practice, especially one that is hard to give up” (www.google.com.ph, January 2014). “Habitual behavior often goes unnoticed in persons exhibiting it, because a person does not need to engage in self-analysis when undertaking a routine task” (en.wikipedia.org, 2014). Thus, trouble with people’s spending habits nowadays gone unnoticeable, until they’re either on the brink of bankruptcy or lack of money to spend. Spending can be fun and exciting, especially for the teens who doesn’t know how to properly manage their finances and allowances. Spending money makes young and wild and free youngsters feel attractive and as if they belong to an upper society as they see others that belong in the upper class society who spend in the same way. Emulation is defined as “the desire to keep up with, fit in with, and impress people of higher position” (Fischer, January 2014) because “many people want to feel oneness in today’s society” (Josiah Ickes). Some teens might just want to unwind and disport oneself that they tend to spend more than they think they would to take away their boredom. Thus “for a lot of people, shopping is simply a solution to boredom” (Lukac). Of course psychological thinki... ... middle of paper ... ...t, only few has in the Philippines due to the requirements to obtain an account. Although banks and credit card companies set up a kiosk on several campuses telling students that they can apply for a free account to save up money. Students must be an 18 year old and above to obtain an account, and the card itself is not even free. Students may find their selves paying a certain amount of money on their first transaction with the bank. Banks and credit card companies are also running tests to ensure the ability of the students to pay back the balances of the credit card. Hence, students use their parent’s debit cards or credit cards—borrowed if not given to them unconstrained. And the quotation “first things first” will surely help respondents to manage their finances and allowances, and in differentiating their needs from their wants. Works Cited en.wikipedia.org
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