Essays Tittle : Evaluating and Finding Solutions to Overcome Bad Spending Habits

Among

University Students in Sabah

Introduction

“Managing one’s finances is a necessary life skill and can be very

empowering if done effectively,” says Bonnie Kirchner, author of Who Can You Trust

With Your Money? But being smart about money is easier said than done. What

does it mean by student? According to Oxford Dictionaries, student is a person who

is studying at a university or other place of higher education. "Spending" in this

context means paying money for things. "Habits" are what you are used to doing

and have a hard time changing. "Spending habits" are the way you are used to

paying money for things, the things you pay money for, and how much you are used

to paying, all of which is very hard to change. We, as student nowadays, living in

these fast moving world hardly control our own selves whenever we talk about

managing our money. This essay will examine the bad spending habit problems and

propose three solutions to control bad spending habits which is, escaping ourselves

from impulse buys, build and producing more universities in rural areas and

practicing good money management.

Background

Bad spending habits occur when students cannot control their own ego. It

also happens when students are racing to show off to their friends, who can have

the most pricey things such as the latest iPhone or the most expensive and trendy

clothes. While studying at the university, many things need to be bought or to be

expended. Of course, it cannot be denied that, we must use a lot of money with our

educational needs. But, it seems to become a habit among students to misuse the

money that is allocated for their studies. In fact , nearly 99 % of students at the

university does not know how to manage their finances . Obviously, students will

tend to use their money for something which is not important at the first place. Only

then,they will start to regret for what they had bought earlier. When all money had

been used into something not worthy, students will begin to face money problems

whenever they want to pay for their school fees and so on.