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Title
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ECONOMIC CHALLENGES AND FINANCIAL DECISION-MAKING AMONG COLLEGE STUDENTS
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Author(s)
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Baliao, John Carlo O.
Dedoro, Jhandel O.
Galeon, Karren Bliss M.
Ocampo, Feliz II
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Affiliation
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Misamis University
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Degree Program
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Bachelor of Science In Business Administration
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Contributor
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Laput, Joseph Glenn J. - Adviser
Carpio, Renzitelo Alf P. - Panel
Apao, Ariel A. - Panel
Carpio, Renzitelo Alf P. - Instructor
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Year
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2024
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Abstract
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Despite financial challenges, college students shoe remarkable resilience, with their economic struggles shaping their financial decision-making. This study explored the correlation between economic challenges and financial decision- making among college students at a university in Ozamiz City during the SY 2024-2025. Using a descriptive correlational design, data were collected from 129 students who met the inclusion criteria through adapted and modified questionnaires on economic challenges and financial decision-making, which were validated and pilot-tested. Mean, standard deviation and Person Product-Moment Correlation were used in the study. The result showed that the student faced high economic challenges , particularly with tuition costs, extra curricular activities, and budget constraints. However, student exhibited good financial literacy, budgeting, skills, and saving behavior, although debt management required improvement. A significant positive relationship was found between economic challenges, such as student loans, tuition costs, and budget constraints, and financial decision making, including financial literacy, budgeting, and savings behavior. Healthcare and transportation cost also influenced financial decision-making, though less significantly. Students' Financial decision making is notably shaped by economic challenges, which has implications for enhancing financial support and education programs at the university. The institution may expand scholarship opportunities, ,include debt management in financial literary programs, and offer workshops to help students better manage their essential expenses.
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Keywords
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Scholarships, Debt Management, Financial Literacy, Workshops, Expenses
