Financial socialization and challenges among international undergraduate students in selected higher education institutions in Cavite / by Samuel Domingos Chandala.

Thesis (Bachelor of Science in Business Management major in Financial Management) Cavite State University

Includes bibliographical references.

College of Economics, Management, and Development Studies (CEMDS)

SAMUEL, CHANDALA D. Financial Socialization and Challenges among International Undergraduate Students in Selected Higher Education Institutions in Cavite. Undergraduate Thesis. Bachelor of Science in Business Management major in Financial Management. Cavite State University, Indang, Cavite. May 2017. Adviser: Mr. Gener T. Cueno.
The study aimed to determine the financial socialization and challenges among international undergraduate students in selected higher education institutions in Cavite. The study also aimed to determine the socio-demographic profile of the international undergraduate students in selected higher education institutions; the level of financial socialization of the international students in terms of financial knowledge and financial attitude; determine the financial influencers on the international undergraduate students': financial knowledge and financial attitude; identify the nature of financial challenges faced by international students by the international undergraduate students; determine the significant difference on the financial knowledge on the international students when groups based on nationality and the significant difference on the financial Attitude on the international students when groups based on nationality. The respondents of the study were 137 international undergraduate students from selected higher education institutions in Cavite. Frequency count, percentage, mean, rank and significance were used to identify and determine the soCio-demographic profile, financial socialization and the financial influencers of the international undergraduate students and the financial challenges faced in terms of finances. Likert Scale was used to determine the financial socialization in terms of financial knowledge and attitude of the participants. Statistical tools such as Anova coefficient was used to determine the significant difference on the financial knowledge and attitude of international students when groups based on nationality. Most of the participants belonged to the age bracket of 19 to 21 wherein most of them were male with 0 to 8 sibling. Most of the participants were single and majority were Africans follow by Asians. In addition, most of the participants were from the medical and health course, follow by education/music/arts/science/tourism. Most of the participants stayed in the Philippines for 3 years or less. Parents was the major source of the participant’s allowance in which the estimated family annual income was 900,000 pesos and below. Further, the participants had an average monthly allowance of 70,000 pesos or less. The results shows that parents were the leading financial influencers according to financial knowledge and attitude. The most present financial challenges of the participant is paying the tuition fee. Due to the shortage of money, the participants had to cut back on entertainment expenses. For coping mechanism most of the participant used they money/allowance, as the first coping mechanism when facing any financial difficulties.
Based on the results, there is no significant difference on the level of financial knowledge and attitude of international students when groups based on the nationalities (continents).

Submitted to the University Library 02/05/2018 T-7314