Rosary College of Commerce and Arts Navelim Salcete Goa “Students and Their Spending Spree” Project Report Submitted by Odilia Dias R-11-07 Sinclair Furtado R-11-15 Sahil Nerurkar R-11-23 Rincy Johnson R-11-31 Mohammad Bilal Zazai R-11-40 Department of BBA 2011-2014
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Rosary College of Commerce and Arts
Navelim Salcete Goa
“Students and Their Spending Spree”
Project Report
Submitted by
Odilia Dias R-11-07
Sinclair Furtado R-11-15
Sahil Nerurkar R-11-23
Rincy Johnson R-11-31
Mohammad Bilal Zazai R-11-40
Department of BBA
2011-2014
Acknowledgement
Our deepest thanks to Lecturer, Sir Avinash Pereira, for guiding us in different matters regarding
the topic. He was very kind and patient while suggesting us the outlines of this project and
correcting our doubts.
We would also like to express our deep sense of gratitude to the helpful students from Rosary
College of Commerce and Arts for filling the questionnaires for the survey. At last but not the least, we are very thankful to all our classmates, who helped us in the
preparation of this Project Report.
Names of group members
Odilia Dias R-11-07
Sinclair Furtado R-11-15
Sahil Nerurkar R-11-23
Rincy Johnson R-11-31
Mohammad Bilal Zazai R-11-40
TABLE OF CONTENTS
CHAPTER NO. TITLE PAGE NO.
1. Introduction
2. Methodology
3. Results
4. Discussion
5. Conclusions
6. Recommendations
References
Executive Summary
The aim of the report was to find the spending spree of college students between the age group of
15-20 and to gain a comprehensive understanding of their purchasing decisions and priorities. A
survey was conducted on the students and the information has been compiled to provide a
complete insight into a student’s spending spree.
The report represents the insights and actual monthly budgets and expenditures of student
spending. It also includes insights into student spending across the following categories: Eating,
Shopping, Recharge, Petrol Refill, Movies, Parties/Clubbing, Relationships, Gaming, Gambling,
and Drinking.
The results indicate that the majority of the students spend their pocket money largely on eating,
shopping and mobile recharges. The report concludes that the spending spree of the students is
quite high.
However, it is recommended that students should spend their money more judiciously by
spending less on luxuries. They should also reduce their spending’s on drinking alcoholic
beverages. Spending on mobile recharges can be reduced by increasing personal interactions
should be increased. Gambling and alcohol drinking should be totally by the youths.
Introduction
Students spend their money in several different ways. Spending habits in adolescents has
changed drastically in the last few years. The manner in which the college students manage their
spending on various aspects such as eating, shopping, petrol refilling is based on the amount of
money given, personality traits, desires and knowledge. It is important that when students are
given a large amount of money as pocket money to see that they have enough of financial
knowledge to know I which area of spending is a necessity or luxury.
Nowadays students are subjected more to consumerism and there is too much of brand awareness
amongst the students today. Commercialization has begun targeting students' spending habits
very long time ago. It is only now that this commercialization has come out in-the-face, and it is
very difficult to just wish it away anymore.
College students are in a unique situation because they have restricted incomes and high
expenses.
This report examines the theme of the spending of college students. However, it does not seek to
examine the spending of the students of have already started earning. The report provides an
analysis of students spending based on the pocket money that each one receives.
Spending spree is too much spending of money. It means spending without regard to the cost or
number of items. It involves buying many items and spending lots of money.
Methodology
The research was conducted by using a questionnaire and it investigated students from Rosary
College of Commerce and Arts. A total of 50 questionnaires were personally given to the
students. The questionnaire consisted of close ended and open ended questions in order to get a
broader understanding as to why the students spend their mentioned amounts from the options
given.
The filled questionnaires were collected after giving them sufficient amount of time to fill them.
The survey was not forced upon anyone and their names and ages were taken so as to know the
spending spree of boys and girls separately.
Results
There was a 100% response rate to the questionnaire. A breakdown of the responses is listed in the graphs below.
Graph1.1 Average pocket money received by a student per month
The survey asked the students their monthly pocket money. The results showed that the average pocket money received by a boy per month is Rs.4,670 whereas the average pocket money received by a girl is Rs. 2,490 per month.
Graph 1.2 Ideal pocket money
According to the results the average ideal pocket a boy desired was Rs.6,720 per month. The
monthly pocket money that girls wanted was Rs.3,212 which is almost half as compared to the
desired pocket money by the boys.
Graph 1.3 Average monthly spending of an individual student
The questionnaire had questions where students had to mention their monthly spending on
eating, shopping, recharge petrol refill, movies, parties/clubbing, relationships, gaming,
gambling, and drinking. It was found that boys spent a large amount on eating as compared to
girls. Majority of the boys and girls spent a lot on shopping but the girls have beaten the boys in
this area. Boys spent more on mobile recharges, petrol refill, movies, parties/clubbing,
relationships, gambling and drinking.
Graph 1.4 Necessities and Luxuries of Boys Graph 1.5 Necessities and luxuries of girls
The survey also allowed the participants to classify the areas of eating, shopping, recharge petrol
refill, movies, parties/clubbing, relationships, gaming, gambling, and drinking into what they felt
were necessities and luxuries. Both the sexes felt that eating is a necessity. The boys felt that
shopping is a luxury whereas the girls felt that shopping is equally a necessity and a luxury.
Mobile recharges, petrol refill and relationships were highly considered to be a necessity by both
the boys and the girls. Movies, parties/clubbing, gambling, drinking were considered luxuries by
both the sexes. Both the boys and girls felt that gaming is both a necessity and luxury.
Graph 1.6 Spending on friends
The report also examined the student’s spending on their friends. It was found that around 46%
of the boys spent approximately Rs.720 on their friends. A higher percentage of girls spent on
their friends. They spent around Rs.472 on their friends. The spending amount of the boys is
higher than the girls.
Graph 1.7 Top 3 Areas on which Boys Graph 1.8 Top 3 Areas on which Girls
spend on their friends spend on their friends
The questionnaire aimed to find the top three areas on which both the sexes spent on their
friends. These results showed that a large majority of the boys spent money on sponsoring their
friends on eating, followed by petrol and recharge.
A majority of the girls also spent money on eating out with their friends. A little more than a
quarter of the girls spent money on their friends while shopping and a quarter of the girls spent
their money on maintaining relationships.
Graph 1.9 Percentage of boys and girls who save
The survey sought to find out the how many of students save at the end of the month. It was
found that around 52% of the boys saved whereas 48% of the girls saved at the month’s end.