FACTORS AFFECTING THE SPENDING BEHAVIOR OF COLLEGE STUDENTS

The purpose of this study was to look at the factors affecting the spending behavior among college students of Surigao del Sur State University in Cantilan, the northernmost municipality in the province of  Surigao del Sur, Philippines in terms of attitude, family background, lifestyle and financial knowledge. Subsequently, this study was done to better understand how these factors influenced the spending conduct of college students and their financial behavior. This study used the descriptive survey method. A researcher-made questionnaire was used as the main instrument for data collection.  Interviews were also conducted to answer clarifications, verify the answers of the respondents, and to solicit additional information. After having studied the data, the researcher concluded that college students’ spending behavior are greatly influenced by their family background. Parents play a key role in shaping not only the attitudes about financial management but also life attitudes in general of their children. It is therefore critical that young individuals begin to learn about finance during adolescence for them to have the best possible chance to be successful in adulthood. Having a good financial knowledge is not enough. Success requires a set of healthy and positive attitude and supportive parents who expect responsible financial attitude.