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Student Panel Research: Final Reporting
Presentation Charts
March 2013
Objectives • To evaluate understanding of financial support and money management prior to receiving the Money Manual and again after its receipt
• To collect attitudinal data about how young people approach financial independence
• To compare responses from those who go to university and those who do not, in terms of profile, attitudes and behaviour
• To measure the levels of readership, attention paid and perceived usefulness of the Money Manual
• To compare the profile, attitudes and behaviour of those who read the Money Manual and those who do not
• To consider whether knowledge of financial support and money management has increased since reading the Money Manual
• To understand the impact of the Money Manual on young people and their financial decisions
Methodology and Sample (1)
• An initial panel of 1,500 respondents was recruited. The sample requirements were that members must be
aged between 17 and 20
studying for A levels/Highers or other qualifications or taking a gap year from education
planning to apply or considering applying to university to start in September/October 2012
• All 1,500 respondents completed the Wave One questionnaire.
• All respondents were invited to take part in the Wave Two questionnaire. 587 responses were obtained. At this stage some panel members had changed their intentions regarding applying to university.
• The response rate at Wave Two was lower than hoped, and therefore an additional 300 new members were recruited. All new recruits were intending to start university in September/October 2012.
• 887 respondents (including new recruits and those no longer intending to go to university) from Wave Two were invited to take part in Wave Three. 451 responses were obtained.
Methodology and Sample (2)
• Recruitment was conducted using an online research panel.
• When recruiting the initial panel members, quotas were set based on UCAS statistics to ensure the sample was representative of university applicants.
• The data has been weighted by gender, type of course (arts vs. sciences) and type of school attended by respondents to bring this into line with the original targets for the panel (based on UCAS statistics). Weights were also applied to correct the bias towards those starting university in 2012 introduced by the recruitment of new members at Wave Two.
Timing The timings for each survey were as follows:
Wave One – Panel Recruitment and Baseline Survey: November and December 2011
Wave Two – Panel Member Survey: September 2012
Wave Two – Recruitment of New Members: October 2012
Wave Three – Final Survey: January 2013
Intentions Regarding Attending University
Wave One: Intentions for University (Nov/Dec 2011) Total Sample
80%
20%
0%
20%
40%
60%
80%
100%
I am planning to apply to university tostart in September/October 2012
I am considering applying to universityto start in September/October 2012
NB. Recruits were screened to ensure they were intending to apply or considering applying for university to start in September/October 2012.
Wave Two: Intentions for University (Sept/Oct 2012) Total Sample
62%
6%
19% 13%
0%
20%
40%
60%
80%
100%
Currently attendinguniversity or have aconfirmed place atuniversity this year
(Sept/Oct 2012)
Intending to attend university this year but don’t currently have a confirmed
place
Have applied/amconsidering applyingto university to start
in another year
No longer planningto go to university
Wave Two: Attendance at University By Intentions at Wave One (December 2011)
Base: Original Panel Members only
5865
31
1110
14
1916
29
13 9
27
0
20
40
60
80
100
Total - Planning to apply to uni
(Dec 11)
Considering applying (Dec
11)
%
No longer planning to go
Applied / considering for another year
Intending to start / no confirmed place
Currently attending / confirmed place
Wave Three: Whether currently attending university (Jan 2013)
Base: Those who were intending to start university in Sept/Oct 2012
94%
6%
0%
20%
40%
60%
80%
100%
Yes No
Wave Three: Whether currently attending university (Jan 2013)
Total Sample
64%
36%
0%
20%
40%
60%
80%
100%
Yes No
Wave Two: Reasons for not applying to university in 2012 Base: Those who intend to apply to university to start in
another year. Leading Mentions
16%
2%
34%
26%
3%
24%
3% 1%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Wave Two: Reasons for not applying for university. Base: Those who are no longer planning to go to
university. Leading Mentions
13%
2%
14%
37%
16%
4%
37%
2% 3%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Wave Three: Reasons for no longer attending university. Base: Those who were intending to go to university at the
time of the second survey but are now no longer attending university. Leading Mentions
28%
20% 19% 19%
0%
5%
10%
15%
20%
25%
30%
I wasn’t enjoying the experience
I had to leave due tohealth reasons
I had to leave due tofinancial reasons
I had to leave due toacademic reasons/I was
struggling with mycourse
NB. The results for this question are based on a small sample size (24 unweighted, 18 weighted) and so should be treated with caution
Profile of Panel Members
Wave Three: Profile: Gender
45%
55%
42%
58%
49% 51%
0%
10%
20%
30%
40%
50%
60%
70%
Male Female
Total Currently attending university Not currently attending university
NB. Data has been weighted by gender to bring it into line with defined targets.
Wave Three: Profile: Ethnicity
88%
2% 7%
2% 1%
83%
3% 9%
2% 2%
96%
1% 2% 1% 1% 0%
20%
40%
60%
80%
100%
Whitebackground
Mixedbackground
Asianbackground
Blackbackground
Otherbackground
Total Currently attending university Not currently attending university
Wave Three: Profile: Type of educational establishment (detailed)
61%
22% 16%
0%
60%
24%
15%
0%
64%
17% 19%
0% 0%
10%
20%
30%
40%
50%
60%
70%
School Sixth Form Sixth Form College CommunityCollege/Further
Education
Other
Total Currently attending university Not currently attending university
NB. Data has been weighted by type of school to bring it into line with defined targets.
Wave Three: Profile: Household financial situation
24%
65%
8%
1% 1%
25%
64%
8%
1% 2%
24%
65%
9%
2% 0% 0%
10%
20%
30%
40%
50%
60%
70%
We are well enoughoff to be able to
afford the luxuriesof life as well as the
essentials
We have enough forthe essentials, butthere is little leftover for luxuries
We hardly haveenough for the
essentials
We need to borrowmoney even for the
essentials
Not sure
Total Currently attending university Not currently attending university
NB. Panel member responses are based on their household situation at the time of the baseline survey. Recruits from Sept/Oct 2012 were asked to think of their household before starting university (i.e. Their family household).
Awareness and Usage of Financial Advice Publications
Wave Two: Awareness of student finance publications (in any format, either before or after seeing front cover)
Total Sample
29% 31%
45%
31%
42%
0%
20%
40%
60%
80%
100%
Aware of "MoneyManual forStudents"
Aware of "You canafford to go to uni"
Aware of "A guideto financial
support"
Aware of "TheEssential StudentGuide to Finance"
Not aware of anyof the above
Wave Two: Awareness of “Money Manual for Students” Total Sample
15% 16%
71%
0%
20%
40%
60%
80%
100%
Aware of email/onlineformat
Aware of paper/hard copyformat
Not aware
Wave Two: Awareness of “A guide to financial support for new full-time students in higher education”
Total Sample
25% 21%
55%
0%
20%
40%
60%
80%
100%
Aware of email/onlineformat
Aware of paper/hard copyformat
Not aware
Wave Two: Usage of Each Publication: “Money Manual for Students.”
Base: Those who recall having seen each publication.
15%
31% 39%
7% 4% 4%
0%
20%
40%
60%
80%
100%
I have read allor most of itthoroughly
I have readcertain sections
in detail
I have read itbriefly orskimmedthrough
I haven’t looked at it but I intend
to
I haven’t looked at it and don’t
intend to
Not sure
Wave Two: Usage of Each Publication:“You can afford to Go to Uni”
Base: Those who recall having seen each publication.
12%
29%
42%
10% 4% 3%
0%
20%
40%
60%
80%
100%
I have read allor most of itthoroughly
I have readcertain sections
in detail
I have read itbriefly orskimmedthrough
I haven’t looked at it but I intend
to
I haven’t looked at it and don’t
intend to
Not sure
Wave Two: Usage of Each Publication: “A guide to financial support”
Base: Those who recall having seen each publication.
8%
28% 34%
15% 9% 7%
0%
20%
40%
60%
80%
100%
I have read allor most of itthoroughly
I have readcertain sections
in detail
I have read itbriefly orskimmedthrough
I haven’t looked at it but I intend
to
I haven’t looked at it and don’t
intend to
Not sure
Wave Two: Usage of Each Publication: “The Essential Student Guide to Finance 2012.”
Base: Those who recall having seen each publication.
10%
33% 32%
14%
5% 7%
0%
20%
40%
60%
80%
100%
I have read allor most of itthoroughly
I have readcertain sections
in detail
I have read itbriefly orskimmedthrough
I haven’t looked at it but I intend
to
I haven’t looked at it and don’t
intend to
Not sure
Wave Two: Readership of “Money Manual for Students” By Socio-Economic Group
Base: Original Panel Members only
5 7 7 4 3 0
11 9 1312 12
9
126
1114 18
9
56
6 7 5
2
6772
63 63 62
80
0
20
40
60
80
100
Total - Professional, senior
manager
Middle management
Junior management
Skilled manual Unskilled manual,
unemployed
%
Not seen
Seen but not read
Read briefly
Read sections in detail
Read all or most thoroughly
Wave Two: Readership of “A guide to financial support for new full-time students” By Socio-Economic Group
Base: Original Panel Members only
5 5 4 8 50
14 15 18 1212
15
16 15 14 22
12 20
12 1016
9
125
53 5448 49
58 60
0
20
40
60
80
100
Total - Professional,
senior manager
Middle
management
Junior
management
Skilled manual Unskilled
manual, unemployed
%
Not seen
Seen but not read
Read briefly
Read sections in detail
Read all or most thoroughly
Wave Two: Readership of “Money Manual for Students” By Concern about Ability to cope with Money and Finances while at University (Wave One). Base: Original Panel Members only
5 7 3 6 7
11 9 13 11 9
12 12 14 9 10
512 4
4 4
6760
65 71 70
0
20
40
60
80
100
Total - Very concerned
Quite concerned
Not very concerned
Not at all concerned
%
Not seen
Seen but not read
Read briefly
Read sections in detail
Read all or most thoroughly
Wave Two: Readership of “A guide to financial support for new full-time students” By Concern about Ability to cope with
Money and Finances while at University (Wave One) Base: Original Panel Members only
5 83 6 6
14 10 18 12 10
1612
1615 21
1210
1412
9
5360
4954 55
0
20
40
60
80
100
Total - Very concerned
Quite concerned
Not very concerned
Not at all concerned
%
Not seen
Seen but not read
Read briefly
Read sections in detail
Read all or most thoroughly
Wave Two: Readership of “Money Manual for Students” By Ethnicity
Base: Original Panel Members only
5 5 7
11 11 10
12 12 155 5
5
67 67 63
0
20
40
60
80
100
Total - White Mixed / non white
Not seen
Seen but not read
Read briefly
Read sections in detail
Read all or most thoroughly
Wave Two: Readership of “A guide to financial support for new full-time students” By Ethnicity
Base: Original Panel Members only
5 5 3
14 1324
16 15
1912 13
10
53 5444
0
20
40
60
80
100
Total - White Mixed / non white
Not seen
Seen but not read
Read briefly
Read sections in detail
Read all or most thoroughly
Wave Two: Overlap of Readership: “Money Manual for Students” by “You Can Afford to Go to Uni”
57%
10% 0% 6%
13%
49%
10% 7%
4%
8%
22% 4%
25% 33%
68% 83%
0%
20%
40%
60%
80%
100%
Read "MoneyManual"
thoroughly/certainsections in detail
Read "MoneyManual" briefly
Aware of "MoneyManual" buthaven't read
Not aware of"Money Manual"
Not aware of "You Can Afford to Go to Uni"
Aware of "You Can Afford to Go to Uni" but haven't read
Read "You Can Afford to Go to Uni" briefly
Read "You Can Afford to Go to Uni" thoroughly/cetain sections in detail
Wave Two: Overlap of Readership: “Money Manual for Students” by “A Guide to Financial Support”
64%
12% 5% 8%
10%
48%
4% 12%
9%
15%
59%
11%
18% 25% 32%
69%
0%
20%
40%
60%
80%
100%
Read "MoneyManual"
thoroughly/certainsections in detail
Read "MoneyManual" briefly
Aware of "MoneyManual" buthaven't read
Not aware of"Money Manual"
Not aware of "A Guide to Financial Support"
Aware of "A Guide to Financial Support" but haven't read
Read "A Guide to Financial Support" briefly
Read "A Guide to Financial Support" thoroughly/cetain sections in detail
Wave Three: Usage of financial advice publications since starting university/since taking part in the last survey
4% 6% 10% 8%
76%
5% 5% 10% 9%
78%
3% 8% 10% 8%
74%
0%
20%
40%
60%
80%
100%
Used "MoneyManual forStudents"
Used "You CanAfford to Go to
Uni"
Used "A Guide toFinancialSupport"
Used "TheEssential Student
Guide toFinance"
Have not usedany of the above
Total Currently attending university Not currently attending university
Wave Two and Wave Three: Perceived Usefulness of Each Publication. Mean Score (4=Very useful, 1=Not at all useful) Base: Those who are aware of/have used each publication.
3.01 2.99 2.88
3.01 3.22 3.19 3.14 3.17
1
2
3
4
Money Manual You Can Afford to Go toUni
A Guide to FinancialSupport
The Essential StudentGuide to Finance
Wave Two responses Wave Three responses
NB. Sample sizes for Wave Three are fairly small and so should be treated with caution
Wave Two and Wave Three: Perceived Usefulness of Each Publication: “Money Manual for Students”
Base: Those who have are aware of/have used each publication.
16%
57%
11%
2%
14%
27%
48%
3% 3%
20%
0%
20%
40%
60%
80%
100%
Very useful Quite useful Not very useful Not at all useful Not sure
Wave Two responses Wave Three responses
NB. Sample size for Wave Three is fairly small and so should be treated with caution
Wave Two and Wave Three: Perceived Usefulness of Each Publication: “A Guide to Financial Support”
Base: Those who have are aware of/have used each publication.
10%
51%
10% 4%
24% 27%
53%
13%
0%
7%
0%
20%
40%
60%
80%
100%
Very useful Quite useful Not very useful Not at all useful Not sure
Wave Two responses Wave Three responses
NB. Sample size for Wave Three is fairly small and so should be treated with caution
Wave Three: Experiences of University
Wave Three: Satisfaction with Aspects of University Life. Base: Those who are currently attending university. Mean
Score (5=Very Satisfied, 1=Very Dissatisfied)
4.42 4.22
3.92 3.97 4.23
4.11
3.3
4.18
1
2
3
4
5
NB. Only those living in student accommodation were asked to rate their accommodation experience
Wave Three: Satisfaction with Financial Situation at University Base: Those who are currently attending university
15%
34%
25%
18%
8%
0% 0%
10%
20%
30%
40%
50%
60%
Very satisfied Quitesatisfied
Neithersatisfied nordissatisfied
Quitedissatisfied
Verydissatisfied
Not sure
Wave Three: Overall Satisfaction with University Experiences. Base: Those who are currently attending university.
36%
53%
5% 5% 1% 0%
0%
10%
20%
30%
40%
50%
60%
Very satisfied Quitesatisfied
Neithersatisfied nordissatisfied
Quitedissatisfied
Verydissatisfied
Not sure
Wave Three: Agreement with University Related Statements. I have found it difficult to fit in/make friends at university.
Base: Those who are currently attending university.
6%
17%
8%
22%
42%
1% 0%
10%
20%
30%
40%
50%
60%
Stronglyagree
Slightly agree Neither agreenor disagree
Slightlydisagree
Stronglydisagree
Not sure
Wave Three: Agreement with University Related Statements. I miss my family/friends/home while at university.
Base: Those who are currently attending university and who are living in student accommodation.
19%
47%
13% 15%
4% 0%
0%
10%
20%
30%
40%
50%
60%
Stronglyagree
Slightly agree Neither agreenor disagree
Slightlydisagree
Stronglydisagree
Not sure
Wave Three: Agreement with University Related Statements. Being at university has helped me to become more
independent. Base: Those who are currently attending university
40% 43%
13%
2% 1% 0% 0%
10%
20%
30%
40%
50%
60%
Stronglyagree
Slightly agree Neither agreenor disagree
Slightlydisagree
Stronglydisagree
Not sure
Wave Three: Agreement with University Related Statements. I enjoy living away from home.
Base: Those who are currently attending university and who are living in student accommodation.
30%
45%
19%
4% 2% 0% 0%
10%
20%
30%
40%
50%
60%
Stronglyagree
Slightly agree Neither agreenor disagree
Slightlydisagree
Stronglydisagree
Not sure
Wave Three: Agreement with University Related Statements. The reservations I had about going to university have been
borne out. Base: Those who are currently attending university and who had reservations about going to university.
13%
32% 28%
17%
7% 3%
0%
10%
20%
30%
40%
50%
60%
Stronglyagree
Slightly agree Neither agreenor disagree
Slightlydisagree
Stronglydisagree
Not sure
Wave Three: Agreement with University Related Statements. I have found some aspects of university life to be less
enjoyable than I had expected. Base: Those who are currently attending university.
10%
38%
28%
17%
6% 1%
0%
10%
20%
30%
40%
50%
60%
Stronglyagree
Slightly agree Neither agreenor disagree
Slightlydisagree
Stronglydisagree
Not sure
Wave Three: Positive or Enjoyable Aspects of University Experience. Leading Mentions
Base: Those who are currently attending university.
35%
22%
15% 15%
8%
3% 3%
0%
10%
20%
30%
40%
Meetingpeople/making
friends
My course/thework
Social life Becomingindependent
Nothing Freedom Getting tostudy a subject
I like
Wave Three: Negative or Non-enjoyable Aspects of University Experience. Leading Mentions
Base: Those who are currently attending university.
26%
18%
8% 6% 6%
4% 4%
0%
5%
10%
15%
20%
25%
30%
Wave Three: Experience of Difficulty of Course Compared to Expectations.
Base: Those who are currently attending university.
8%
36%
47%
7%
2% 1% 0%
10%
20%
30%
40%
50%
Wave Three: Financial Situation
Wave Three: Means of funding university course and lifestyle. Base: Those who are currently attending university.
80%
56%
13%
31% 28%
1% 5%
25%
0%
20%
40%
60%
80%
100%
Wave Three: Whether sources of income have been sufficient since starting university/since taking part in the last survey.
73%
27%
74%
26%
0%
20%
40%
60%
80%
100%
Yes No
Currently attending university Not currently attending university
Wave Three: Whether budget/set spending limit
77%
23%
78%
22%
0%
20%
40%
60%
80%
100%
Yes No
Currently attending university Not currently attending university
Wave Three: Attention paid to finances on daily basis
45% 49%
5% 1%
51% 44%
5% 0%
0%
20%
40%
60%
80%
100%
I pay close attentionto my finances
I pay some attentionto my finances
I pay little attentionto my finances
I pay no attention tomy finances
Currently attending university Not currently attending university
Wave Three: Who takes most financial responsibility while at university/at the moment
75%
9% 16%
0%
77%
11% 12%
0% 0%
20%
40%
60%
80%
100%
Myself Myparents/guardians
Myself and myparents/guardians
equally
Someone else
Currently attending university Not currently attending university
Comparison of Personality Scales and Attitudinal Statements Over Time
Response to personality scales Mean Score (1=Confident, 7 =Insecure)
Base: Original panel members who completed all three waves
3.61 3.85
3.59 3.62 3.81 3.65 3.61
3.89 3.51
1
2
3
4
5
6
7
Wave 1 Wave 2 Wave 3
Total Currently attending university Not currently attending university
Confident
Insecure
Response to personality scales Mean Score (1=Impulsive, 7 =Cautious)
Base: Original panel members who completed all three waves
4.22 4.40 4.45 4.31
4.53 4.35
4.12 4.24 4.57
1
2
3
4
5
6
7
Wave 1 Wave 2 Wave 3
Total Currently attending university Not currently attending university
Impulsive
Cautious
Response to personality scales Mean Score (1=Free spending, 7 =Careful with money)
Base: Original panel members who completed all three waves
4.57 4.55 4.90
4.56 4.57 4.79
4.57 4.53
5.04
1
2
3
4
5
6
7
Wave 1 Wave 2 Wave 3
Total Currently attending university Not currently attending university
Free spending
Careful with money
Agreement with Attitudinal Statement: I am too young to start thinking about saving money regularly
Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves
2.45 2.44 2.31 2.33 2.40 2.28 2.58 2.49
2.33
1
2
3
4
5
Wave 1 Wave 2 Wave 3
Total Currently attending university Not currently attending university
Agreement with Attitudinal Statement: I feel I am capable of making most decisions for myself
Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves
3.78 3.78 3.91 3.82 3.93 3.99 3.73 3.60
3.82
1
2
3
4
5
Wave 1 Wave 2 Wave 3
Total Currently attending university Not currently attending university
Agreement with Attitudinal Statement: Being in debt is just part of university life – it doesn’t worry me
Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves
2.69 2.57 2.60 2.78 2.69 2.69 2.59
2.44 2.48
1
2
3
4
5
Wave 1 Wave 2 Wave 3
Total Currently attending university Not currently attending university
Agreement with Attitudinal Statement: I don’t think it is important for me to manage my financial situation at the
moment Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves
2.29 2.12 2.05
2.23 2.01 2.02
2.35 2.26 2.10
1
2
3
4
5
Wave 1 Wave 2 Wave 3
Total Currently attending university Not currently attending university
Agreement with Attitudinal Statement: I often buy things on impulse Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves
3.04 2.89
2.64
3.04 2.92 2.71
3.03 2.85
2.56
1
2
3
4
5
Wave 1 Wave 2 Wave 3
Total Currently attending university Not currently attending university
Who was/is expected to take most responsibility for financial situation at university.
Base: Original panel members who completed all three waves and who are currently at university
39%
70% 71%
18%
15% 10% 42%
15% 19%
1% 0% 0%
0%
20%
40%
60%
80%
100%
Wave 1 Wave 2 Wave 3
Someone else
Myself andparents/guardiansequally
Myparents/guardians
Myself
Concern about managing finances at university Base: Original panel members who completed all three waves
and who are currently at university
11% 12%
54% 49%
22%
31%
13%
6% 1% 1%
0%
20%
40%
60%
Wave 1 Wave 2
Very concerned Quite concerned Not very concerned
Not at all concerned Don't know
How well managed finances at university Base: Original panel members who completed all three waves
and who are currently at university
1% 7%
66%
25%
2% 0%
20%
40%
60%
80%
Wave 3
Not at all well Not very well Quite well Very well Not sure
Comparison of Matched Panels
Matched Panel Sample Sizes
4436
90
3222
43
14
12
34
13
12
33
0
30
60
90
120
150
Read MM thoroughly /
sections in detail
Read MM briefly Not seen MM Read MM thoroughly /
sections in detail
Read MM briefly Not seen MM
Non Students
Students
For Wave 3 results only For comparisons Wave 1, Wave 2 and Wave 3
Wave One: Response to personality scales Mean Score (1=Agree with first descriptor,
7 =Agree with second descriptor) Base: Members of defined matched panels
3.36
4.27
2.80
4.73
3.79 4.21
3.68
4.56
3.64
4.34
3.13
4.58
1
2
3
4
5
6
7
Confident - Insecure Impulsive - Cautious Organised -Disorganised
Free spending -careful with money
Read MM thoroughly/read sections in detail matched panelRead MM briefly matched panelNot aware of MM matched panel
Wave One: Response to attitudinal statements Mean Score (5=Agree strongly, 1=Disagree strongly)
Base: Members of defined matched panels
2.11
3.96
3.20 2.80 2.84
3.65 3.41
3.00
2.43
3.86
3.22 2.68
1
2
3
4
5
I am too young tostart thinking about
saving moneyregularly
I feel I am capable ofmaking most
decisions for myself
I'm concerned aboutthe prospect ofleaving home
Being in debt is justpart of university life- it doesn't worry me
Read MM thoroughly/read sections in detail matched panelRead MM briefly matched panelNot aware of MM matched panel
Wave Two: A Level Score Base: Members of defined matched panels
15.16 14.88 15.24
0
4
8
12
16
20
Read MM thoroughly/readsections in detail matched
panel
Read MM briefly matchedpanel
Not aware of MM matchedpanel
Wave Three: Attending University Base: Members of defined matched panels
71% 65%
57%
0%
20%
40%
60%
80%
100%
Read MM thoroughly/readsections in detail matched
panel
Read MM briefly matchedpanel
Not aware of MMmatched panel
Wave Three: Hobbies/Extra Curricular Activities Base: Members of defined matched panels who are currently
attending university
46%
14%
47%
0%
69%
13%
0%
20%
40%
60%
80%
100%
Shopping Voluntary work
Read MM thoroughly/read sections in detail matched panelRead MM briefly matched panelNot aware of MM matched panel
Wave Three: Attention paid to finances Base: Members of defined matched panels who are currently
attending university
61%
47% 37%
34%
39% 57%
5% 11%
6% 0% 3% 1%
0%
20%
40%
60%
80%
100%
Read MMthoroughly/readsections in detailmatched panel
Read MM brieflymatched panel
Not aware of MMmatched panel
Pay noattention tofinancesPay littleattention tofinancesPay someattention tofinancesPay closeattention tofinances
Wave Three: Whether learnt anything from managing money at university. Leading Mentions
Base: Members of defined matched panels who are currently attending university
43%
23%
5% 7%
47%
19%
6% 8%
60%
12% 7% 2%
0%
20%
40%
60%
80%
100%
Nothing Budgeting/managingmoney
Consider whethersomething is really
needed before buying
Try to build up savingsbefore university
Read MM thoroughly or sections in detail Read MM briefly Not aware of MM
Comparison over time: Personality scales. Mean Score (1=Impulsive, 7 =Cautious)
Base: Members of defined matched panels who are currently attending university
4.27 4.27 4.44 4.21
4.50 4.50 4.34 4.47 4.41
1
2
3
4
5
6
7
Wave 1 Wave 2 Wave 3
Read MM thoroughly or sections in detail Read MM briefly Not aware of MMCautious
Impulsive
Comparison over time: Attitudinal Statement ‘I often buy things on impulse’. Mean Score (5=Strongly agree, 1=Strongly
disagree) Base: Members of defined matched panels who are currently attending university
2.93 2.78
2.33
3.18
2.79 2.71 2.93 2.97
2.75
1
2
3
4
5
Wave 1 Wave 2 Wave 3
Read MM thoroughly or sections in detail Read MM briefly Not aware of MM
Wave Three: Satisfaction with financial situation since taking part in the last survey. Mean Score (5=Very satisfied, 1=Very
dissatisfied). Base: Members of defined matched panels who are not currently attending university
3.50 3.58
3.09
1
2
3
4
5
Read MM thoroughly orsections in detail
Read MM briefly Not aware of MM
Read MM thoroughly or sections in detail Read MM briefly Not aware of MM
Wave Three: Whether budget or set spending limit. Base: Members of defined matched panels who are not
currently attending university
93%
75% 74%
7%
25% 27%
0%
20%
40%
60%
80%
100%
Read MM thoroughly orsections in detail
Read MM briefly Not aware of MM
No
Yes
Summary and Conclusions (1) • Only around two thirds of those planning in December 2011 to attend University actually took up a place the following Autumn. Finance was often a reason for not proceeding with their intention.
• Students have for the most part enjoyed their first few months at University, but they do have some reservations about the experience. In particular, around one quarter of students have concerns about their income sources.
• University life does seem to be increasing the maturity and independence of many students.
• Students are increasingly likely to take responsibility for their own financial affairs in their early months at University.
• Only a minority remember having seen the Money Manual. Awareness of the Manual is at a similar level to most of the other financial publications for students, but is well below that of “A guide to financial support...”.
• The financial publications are all seen as very or quite useful by most of those who have read them. Despite this, only a small minority remember having used one of the publications since starting at University.
Summary and Conclusions (2)
• There is a considerable overlap in readership of the various publications. It could be questioned, therefore, whether all are needed.
• There is weak evidence that, in combination, Money Manual and the other financial publications have increased the financial responsibility of those who have read them thoroughly.
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