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Life is full of unexpected events as the plan will never catch up with change, and this kind of circumstances would lead to massive spend of money sometimes. After graduated, university students are searching for a job as the source of income. Meanwhile, you start being charged with your living expenses without any financial supply. And this is the time that your saving during university can cure the conditions and help you from daunting. Developing good money management skills supports the ultimate goal to become financially independent.

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College students spend their time on working part time.

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College students spend their time on working part time.

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According to a survey conducted by Hong Kong and Shanghai Bank Corporation Limited (HSBC), the working rate of university student is very high globally (around 83% of students work part time). Nine in ten students in Malaysia claimed that they work whilst studying. The common reason is they need extra money to support their life (66% of students admitted).

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Financial situations can place many obstacles between the students and their studies. Poor money management always linked with poor academic performance.

The pressure brought from university students could not handle unexpected events due to their poor money management has caused some vile effects on their academic achievement.

Since they are having trouble in financial issue, they could not focus on their studies and thus leads to poor academic achievement.

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Aside from education, most students also want to spend on their beloved family members and friends.

For student itself, they want to go hanging out with their friends and family members sometimes. A person who has not budgeted money and has fallen into debt will not be able to meet this desire, which may lead to damaged and broken relationships on top of financial hardship.

They ended up feeling really isolated from their friends because they had no money or budget to go out and do the things every fresher does.

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One of the consequences on poor money management is on financial stress and anxiety.

Stressful financial situations can cause negative impacts on students' thoughts, feelings and behaviors.

Financial stress can cause they to think negatively or having negative thoughts, such as blaming yourself up over the past mistakes. Moreover, financial stress also can cause someone to change in their behaviour, such as avoiding social occasions and others.

Other than that, poor money management can cause feelings of fear, worry or regret related to your financial situation. If this situation persists, it may cause someone to have anxiety disorder.

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The consequences on poor money management is shorten the lifespan.

University students will sacrifice their sleeping time to do as much part-time job as they could to earn money and skip meals to save money. However, the money is never enough since they do not spend the money in the right way.

Poor money management can influence students' appetite, mood, ability to focus, and even increase blood pressure. At the young age, they may get disease such as heart attack, gastric and others.

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How much of the students have the awareness of saving money while studying?

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How much of the students have the awareness of saving money while studying?

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According to studies, 58% of college students reported that they did not save their money for emergency use. In addition, 43% of students don't even track their spending.

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Most university students in Malaysia are having student loans on their hand in the journey of pursuing their university studies such as PTPTN and JPA. The correct way for them to use the money is to pay the studies fees and buy the necessaries of daily living. However, they often spend the money in purchasing beautiful clothes, shopping and going for vacations. In fact, they should save the extra money in case to reduce the burden for them to pay back the loan after graduation.

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4.Using Credit Cards Comes Natural To You.

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4.Using Credit Cards Comes Natural To You.

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It is easy for us to just carrying a small card to go out compared to a lot of cash. However, there are all "future money" inside the credit cards as we have to pay the bills with taxes in-charged monthly. With the credit cards on hand,we can buy anything we want just with our card without any consideration of how the money pay back in the future. Hence, a large amount of money will be shown on the credit cards bills once we accidentally bought too much things in the previous month and maybe our income is not enough to cover the out spending.

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If you think that purchases on cars and gadgets rationalize by trickling yourself into the thoughts of they are an "investment", you are most probably have a serious problem of behavioral. As we know, cars and gadgets will lose about half its value after you bought it compared to the new one. Hence, decrease the time of buying unnecessary gadgets to prevent the "transparent" method of money waste.

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Spending and saving behaviours that developed in university are likely to stay with the students throughout their adult life. In order to have a successful and brightened future, university students should spend money on hand rationally by budgeting. Budgeting is a tremendous financial foundation and can be a stepping-stone to handling greater financial responsibility, leaving lifelong benefits. Individual who can handle his financial wisely is known as the master of life instead of the salve of money. Therefore, he is capable to plan his life with targeted goals and splurge on the needs to improve life quality and not sabotage budgets by spending money on things that can without.

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2. Always Chase after the Latest and Newest Items

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2. Always Chase after the Latest and Newest Items

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People nowadays are willing to chase after the latest and newest item just to follow the trend. For example, men who are the staunchest supporters of Apple gadgets will change their Iphone once the new version is out. While for ladies, they will seek for the new trends of clothes and handbag for the famous brand such as Louis Vuitton, Prada and Gucci. These attitudes will make us to spend a lot of money on the latest item without a stop. In fact, that is not necessary for us to stay up with the latest trends and fashion.

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1. Keep Buying Things that is Not Essential Without Budgeting.

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1. Keep Buying Things that is Not Essential Without Budgeting.

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Did you a person who will spend more money on the unnecessary items such as buying new clothes, electrical gadgets and bags without a sense of care about the price tag? If you did so, you are now having poor financial management! You will easily face the problem of over-budget for a monthly spent once you buy something that is not in your necessary every month.

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Hi guys, as the template is so hard to find, is it okay if we change our style become like... this? Haha!

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Bad Behaviours That Lead To Financial Disasters

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Bad Behaviours That Lead To Financial Disasters

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Have you ever suffered from the money problem once reaching the end of month? If your answer is yes, you may probably have a bad financial behaviours! Have you ever experienced about the statement stated below?
1. Keep Buying Things that is Not Essential Without Budgeting.
2. Always Chase after the Latest and Newest Items
3. Consider Expenses To Be Investments.
4.Using Credit Cards Comes Natural To You.
5.Abusing Student Loans

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Financial Management, also known as Financial planning is a process consisting different steps, as shown in the figure below:

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Let's have some statistics on our topic!

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Let's have some statistics on our topic!

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1. Range of students’ monthly allowance:

1.5% of them : RM 0 – RM 500

45% of them : RM 500 – RM 1000

48% of them : RM 1000 to RM 1500

5% of them : RM 1500 to RM 2000

2. 45% of students spend their money at shopping during their leisure time.
3. 52% of students spend more than RM 200 for their transportation fees.
4. 23% of students spend their money daily for entertainment activities.
5. 50% of students consider credit card as an important thing for them.
More than 50% of student admitted that they skipped meals to save their money. Those who live off campus tend to eat instant noodles to save money. Besides, 35% of the students from rural area claimed that financial problems have an impact on their studies while there's only 23% of students from urban area reported that. There is also a high percentage of students who lives off campus (around 50.7%) did not have enough money to last until the end of the semester compared to those who lives in campus.

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What are the financial sources of students?

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What are the financial sources of students?

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In Malaysia, parents say they contribute on average RM 24,100 for their children’s university education.  However, the expenses for a 4-year degree course on tuition fees, accommodation, bills and other costs are estimated at RM 67,600. This leaves a considerable gap of RM 43,500 to cover from other sources.
The other sources includes education funds, part time works and so on. Studies show that 86.7% of the students are taking PTPTN or other education loan for their studies. 6.8% of students are holding a scholarship to support their college life. However, there are also 6.5% of students have other financial sources to pay their expenses.

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4. Do not abuse credit cards
a. Do not go over your spending limit.
b. pay off your credit card balance before the deadline every month.
c. Not to take cash advances on your credit card due to high interest.

5. Study on loans and financial aid:
a. to understand size of student loan debt
b. able to come up with a play on paying it back

6. Shop smart on textbooks:
a. Buying textbooks is one of the biggest college expenses
b. Buy at the start of each semester
c. Invest in Kinle or iPad to download ebooks
d. Look for books in used bookstores or online
e. Buy the used textbooks from graduated seniors

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Hi guys! Our newsletter can contain more clipart aspects and colour. Have fun!

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Whether you are rich or poor, not being able to manage your financial is probably bury you into debt.

It's important for us to keep track on our expenses, so we'll know where is exactly the money spent.

Next, we also can conclude that if we are not keeping a budget on track, we might spend our money on unnecessary things thus, it can lead to wastage.

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1.  Create Budget List including:
a. Monthly inccome sources (savings, wages and perental allowances)
b. Estimated expenses for the month

2. Seperate wants from needs
a. Use method of weekly cash allowance rather than carry debit card

3. Set up checking account to keep an eye on account balance before spending it.

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"According to a survey of 18-29 year-olds conducted by Bankrate, 29 percent have put off buying a car, 19 percent have put off marriage and 30 percent have put off buying a home due to student loan debt."
Source: Student Connections. 2016. Why is money management education important for students. https://www.studentconnections.org/blog/why-is-money-management-education-important-for-students/[15 May 2019]

Every single university student has their own dreams. It does not a matter that the dream is mighty or small, you can always turn it into a reality if you want to. With basic financial literacy in life for instance, managing monthly budgets and expenses, students wisely utilize and save the money from loan in converting dreams into reality during and after school. Catching a dream is not an impossible mission as if you are able to manage desire and make rational decisions with the money you have.

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Everyone knows that bills need to be paid, but no everyone cares to pay bill on the time.

Interest each day that the bill is not paid would increase over time. Not paying bills on time, could lead to summons and can affect your debt history.

When interest adds up quickly, it might cause the overall cost increase drastically.

Commonly, people who used to postpone their bill payments, he usually stuck in debt for a long term.