The Importance Of Money: How Money Is Important For College Students

Money is defined by the Webster dictionary as something generally accepted as a medium of exchange, a measure of value or a means of payment (Merriam-Webster, 2016). It plays a vital role in human life. People need to buy food and many basic necessities of life which are impossible to be bought without money. That’s why there is no any doubt that money is so essential for an individual to survive each day in life. The importance of money is increasing day by day as living becomes costly. That’s why individual should use it properly and wisely. Using money doesn’t end from spending it, it is also very essential to save it for future use and plans.
College students on the other hand learn to save their allowance as they grow and meet different requirements in school. Entering college is an exciting and important part in student life. It is where they learn to be an independent person. There are many different tasks that need to be done in order for them to be successful. One specific area where many college students have difficulty is learning how to manage their allowance effectively and wisely.

It is estimated that the minimum average of salaries from the entire region in our country is PHP 250 to PHP 466 depends on where they work (Dave, 2010). But because of financial problem of some Filipino, not all children in the family are able to send in the school. Even if the government is helping for our education, not all Filipinos have the privilege to be part of it, especially students that is far from the civilization. Some of the college student don’t have enough allowance to pay all expenses in school. Sometimes their allowance is only enough for their transportation fee. But because of their strong desire to finish their study, they don’t let financial problem to be the hindrances in going to