Personal financial management skills Of university students and their financial experiences during the Covid-19 pandemic
Purpose: The main purpose of this study was to assess university students’ financial management skills and their financial experiences during the Covid-19 pandemic. Research methodology: The research adopted the explanatory sequential mixed methods research design where a survey of 181 students o...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | research article |
| Language: | English |
| Published: |
Goodwood Publishing
2023
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| Subjects: | |
| Online Access: | https://cris.library.msu.ac.zw//handle/11408/5546 https://doi.org/10.35912/ijfam.v4i2.835 |
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| Summary: | Purpose: The main purpose of this study was to assess university students’ financial management skills and their financial experiences during the Covid-19 pandemic.
Research methodology: The research adopted the explanatory sequential mixed methods research design where a survey of 181 students on work-related learning was conducted using questionnaires and qualitative interviews. Data were analyzed using IBM SPSS Statistic 27
Results: The study established that the majority of the students do not have a budget, run out of money before receiving the next income, have no funds set aside for uncertainties or medical expenses related to the Covid-19 pandemic, and to make ends meet most of the students borrow money from relatives and friends. The majority of students struggled financially because of the Covid-19 pandemic.
Limitations: Questionnaires and interviews were only distributed/conducted online due to the Covid-19 pandemic.
Contribution: Personal financial management skills are a vital human capital skill for students. Therefore the need to explore such skills and financial experiences of University students during the Covid-19 pandemic for the first time. |
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