Student life is the time when young people begin to manage their finances for the first time. It is at this time that, to a certain extent, freedom from family and responsibility for oneself generate the need for proper budget planning. The financial situation of students is limited, it consists only of scholarships and other additional sources of income.
We, young sociologists of the Eurasian National University, conducted a survey among students of our university, in which 445 respondents took part. Our goal is to differentiate students' financial literacy. We would like to present a summary of the results of this study. 52% of respondents are boys, 48% are girls. According to the results, 57% of students have a scholarship as their main source of income, 24% work, and those who seek help from their parents make up 14%.
57% of students receive scholarships, but only 13% of them are “satisfied with their scholarship”, while the rest complain that the scholarship is too small.
During the study, students spent an average of 24,595 tenge on food every month, 24,221 tenge on fitness room subscriptions, the largest amount, 28,896 tenge, is spent on "shopping".
In addition, a student spends an average of 21,622 tenge on meals outside the home every month (of which girls spend 11% of their income on meals outside the home, and boys spend 10%), 13054 tenge on taxi and public transport services, 8938 tenge on entertainment. Students buy clothes mainly in shopping and entertainment centers, such as Mega Silk Way (55%), Khan Shatyr (21%), and only 10% prefer to buy clothes in online stores and on the market.
Saving and systematic distribution of money is an important area of financial literacy. The study showed that 25% of students purposefully collect money. Most of them collect money to buy cars and housing, and almost all use special applications to collect money (deposits, securities, cryptocurrencies). The most interesting thing is that we noticed that among students, girls plan their budget more often than boys, but girls often have unplanned expenses.
Students often face financial difficulties. On average, it turned out that while a 1st-year student seeks help from parents in solving financial difficulties, 2nd and 3rd-year students solve the problem by borrowing money or getting a job.
Summing up our research, only 21% of students answered that they are fully aware of financial literacy and try to save their money. 58% of students agree with the conclusion that the scholarship expires in less than 1 month due to low financial literacy, and the rest claim that financial literacy has nothing to do with it than.
Authors:
Dilnaz Abish
Gulnaz Amanzhol
Aruzhan Erdosova
Kunsulu Zhailybayeva
Medina Korganbek
Aybota Serik
Kuandyk Tusunbayev
Heads:
Chingis Torez
Bayan Smagambet
