Budgeting and spending habits of university students in South Africa

Abstract

The aim of this study was to investigate the budgeting and spending habits of university students at a South African university. In addition, the study examined if there is a significant gender difference in the budgeting and spending habits of university students. The study adopted a quantitative research approach with a descriptive design. The instrument used for data collection was a self-administered questionnaire. Convenience and snowball sampling techniques were used to identify the study participants. The Cronbach’s alpha was used to test reliability. Data analysis included descriptive statistics and the t-test. The findings of the study show that the majority of university students do not have a written budget. In addition, the majority of university students spend money on groceries and fast food. Female students are more likely than male students to have a budget. Recommendations to improve the budgeting and spending habits of university students are suggested.

Keywords: budgeting, spending, habit, university students, South Africa