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Decisions at the Margins

Decisions at the Margins. Ethan Warneck. Research Question:. How do students deal with their financial situation in college and is it done responsibly?. “Save” image courtesy of Dreamstime. My Research. Anonymous survey done at Oakland University Search through Oakland's database

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Decisions at the Margins

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  1. Decisions at the Margins Ethan Warneck

  2. Research Question: • How do students deal with their financial situation in college and is it done responsibly? “Save” image courtesy of Dreamstime

  3. My Research • Anonymous survey done at Oakland University • Search through Oakland's database • Google search related to student finances

  4. Survey 1. Do you have a written/planned budget? 2. Do you have extra spending money for non-necessities? 3. Do you ever feel stressed out from a lack of money? 4. Do you have any student loans? 5. Have you been able to spend any money on luxury items while in school? 6. Has financial stress negatively affected your schoolwork? All questions had the option of yes or no for an answer.

  5. Creating a budget • “…this is one of the most important times to start budgeting. As a student it’s easy to get complacent when you don’t have a mortgage to pay, kids to feed, or other significant money worries.” –Vohwinkle (n.d.) • Only 37% of students at OU said they had a written budget, while 60% said they had extra money to spend on things, besides necessities.

  6. Spending Habits • Students seem to be buying what's trendy and popular at the time. Even If it isn’t necessary. (College students, n.d.) • At OU 73% of students said they had bought luxury items while in school. • Students tend to purchase things online out of an impulse, whether it’s a good price or not. (Norum, 2009) “Fifties” image courtesy of Dreamstime

  7. Conclusions • This survey would be more beneficial if it was done on a larger scale. • Students need to be more aware and educated of the possible future repercussions of poor money management in college. • Sitting down to make a budget may seem pointless and like a waste of time but it can save you from a lot of stress and financial problems in the future.

  8. References: • College students' spending reflects new trends. (n.d.). Retrieved March 12, 2014 from, http://www.tntech.edu/pressreleases/college-students-spending-reflects-new-trends/ • Fifties (n.d.) Dreamstime.com (image). Retrieved March 31 from http://www.dreamstime.com/fifties-stock-image-imagefree64981 • Norum, P. (2009). Student internet purchases. Family and Consumer Sciences Research Journal. Volume 36, Issue 4. Retrieved March 12, 2014 from, http://onlinelibrary.wiley.com.huaryu.kl.oakland.edu/doi/10.1177/1077727X08318705/ pdf • Save (n.d.) Dreamstime.com (image). Retrieved March 31 from http://www.dreamstime.com/save-stock-images-imagefree43914 • Vohwinkle, J. (n.d.). Top five money mistakes college students make. Retrieved March 12, 2014 from, http://financialplan.about.com/od/students/a/college-student-money mistakes.htm

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