Personal Financial Management Skills Of University Students and Their Financial Experiences During The Covid-19 Pandemic

https://doi.org/10.35912/ijfam.v4i2.835
Published: Sep 2, 2022

Abstract:

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.

Keywords:
1. Personal financial management skills
2. financial planning
3. financial experiences
Authors:
1 . Lilian Gumbo
Midlands State University, Zimbabwe
https://orcid.org/0000-0001-8746-602X
2 . Margaret Mutengezanwa
Senior Lecturer, Department of Banking and Finance Bindura, University of Science Education, Zimbabwe
https://orcid.org/0000-0003-4548-7062
3 . Munyaradzi Chagwesha
Department of Management Sciences, Midlands State University, Zimbabwe
https://orcid.org/0000-0002-3679-9796
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How to Cite
Gumbo, L., Margaret, M., & Chagwesha, M. (2022). Personal Financial Management Skills Of University Students and Their Financial Experiences During The Covid-19 Pandemic. International Journal of Financial, Accounting, and Management, 4(2), 129–143. https://doi.org/10.35912/ijfam.v4i2.835
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Issue & Section
Vol. 4 No. 2 (2022): September
Articles
Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Author Biography

Munyaradzi Chagwesha, Department of Management Sciences, Midlands State University, Zimbabwe

 

 

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