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Article Published In Vol.6 (Nov-Dec-2018)

Financial Savings Skills and Expenditure Behavior of Public University Students in Western Kenya

Pages : 1343-1346, DOI:

Author : Nasoro Rashid and Dr. Alala B. Ondiek

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Records show that up to 11% of government sponsored students drop out of the universities in Western Kenya due to financial reasons. Statistics show that up to 28% of privately sponsored students enrolled in universities in Western Kenya region drop out or have extended completion of courses. Studies reveal students’ expenditure behavior relates to available income and not budgets as they tend to overspend on leisure. Some students resort to illicit activities like prostitution, thuggery, drugs and academic malpractices in trying to mitigate on financial difficulties. There is a gap on the level of preparedness in saving skills on the expenditure behavior of university students. The purpose of this study was therefore to analyze the students’ financial savings skills effect on expenditure behavior among public university students and to examine moderating effect of students’ characteristics on the relationship between financial literacy on expenditure behavior in public universities. The study was anchored on the Goal Setting theory. The research adopted a survey descriptive research design. The target population was first to fourth year undergraduate students and 8 registrars and deans of students in four selected public universities in the Western Region of Kenya. The total population was 14, 228 respondents. A sample of 397 respondents was obtained using stratified random sampling. Data was collected with aid of structured questionnaires. The validity of the data collection instruments was obtained through expert advice of research supervisors and faculty of school of business and graduate studies. The reliability of the instruments was done through piloting using samples whose characteristics reflected those of the test population. The piloting was done using the test and retest technique computed using the Cronbach alpha coefficient and only accepted at a minimum level of 0.7. Both Qualitative and quantitative data were collected. Descriptive and inferential statistics were used to analyse the data collected. Presentation of data was done through frequency tables. The study found out that there is a positive and significant relationship between students’ financial saving skills on expenditure behavior in public university students in the Western Region of Kenya. The study also found out that students’ debt management skills have a weaker positive and insignificant relationship on expenditure behavior in public university. The study highly recomends that for better expenditure management by students in public universities in Western Kenya, the students ought to have financial savng skills because the study found out that there is a higher positive and significant relationship between financial saving skills and expenditure behaviour by students.

Keywords: Government sponsored students, public university, saving skills, students’ expenditure behavior



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