KELANTAN

MATRICULATION COLLEGE
ENGLISH
WB 023
TOPIC: MONEY MANAGEMENT AMONG KMKt STUDENTS
PREPARED BY:
NAME
1.NURUL HUSNA BINTI DAHAMAN
2.AQILAH HANISAH BINTI LOKMAN
3.NURUL AMIRAH BINTI AHMAD RADZI
4.IZLEEN AZYZEE BINTI IHSAN

MATRIC NO.
MA1424549239
MA1424549204
MA1424549018
MA1424549290

PRACTICUM

: A1P6

PREPARED FOR

: MR. MOHAMAD RASLI BIN HUSSIN

NO. TITLE

PAGE

1.0

CHAPTER ONE : INTRODUCTION

2.0

1.1 Background Information

1.2 Definition of Key Terms
1.3 Research Objectives
1.4 Research Questions
CHAPTER TWO : LITERATURE REVIEW

3.0

2.1 Definition of Money and Money Management

2.2 Mistakes in managing Money and Ways of
Managing Money
2.3 Benefits of Good Money Management
CHAPTER THREE : RESEARCH METHOD

4.0

3.1 Research Respondents

3.2 Research Instrument
3.3 Research Procedure
CHAPTER FOUR : RESULTS AND ANALYSIS

5.0

CHAPTER FIVE : CONCLUSION

5.1 Conclusion
5.2 Recommendation and Suggestions.
REFERENCES
APPENDICES

CONTENT

CHAPTER 1: INTRODUCTION

1.1 Background Information

As we know everybody needs money. With money we can buy our
necessities, food and other needs. Unfortunately nowadays, many people are
facing money problem, especially those who cannot manage their money
well. According to Wikipedia, the free encyclopedia mentioned that money is
any item or verifiable record that is generally accepted as payment for goods
and services and repayment of debts in a particular country or socioeconomic context. The main functions of money are distinguished as
a medium of exchange, a unit of account, a store of value and perhaps,
a standard of deferred payment. Any item or verifiable record that fulfills
these functions can be considered money.

1.2 Definition of Key Terms

According to Mike Moffat (2012), money is a good that acts as a
medium of exchange in transactions. Classically it is said that money acts as
a unit of account, a store of value, and a medium of exchange. So money
isn't just pieces of paper. It's a medium of exchange that facilitates trade.
While Chris Martenson defined money as an essential human creation, and,
were all money to disappear, a new form of money would spontaneously
arise in its place, such as cows, tobacco, bread, a certain type of nut husk,
perhaps, or even nautilus shells. Without money, the complex job
specializations that we have today would not exist, because barter is so
cumbersome and constraining. More importantly, though, is the concept that
each type of money system has its pros and cons each will enforce its own
peculiar outcomes by promoting some behaviors while suppressing others.
One of the biggest keys to successful money management is to learn
to live within your means. Money management is the basis of being
financially responsible. Learning how to plan, develop, use, and maintain a
personal budget is the first step in being able to make quality financial
choices and decisions. The ability to apply positive money management
skills, set financial goals, and understand effective cash flow strategies are
the next steps that allow students to be responsible consumers (Burmaster,
et al., 2006) .According to Wikipedia, Money management is the process of
managing money which includes investment, budgeting, banking and taxes.
It is also called investment management.

Therefore, there is a need to understand and apply the financial skills

among students, since their financial management will have significant
impact on their future life and personal well-being. Exposing the students
with positives financial habits is a better way to improve and overcome the
students financial problems. The time is critical because they will soon be
entering the real university life that is far more challenging.

1.3 Research Objectives

1. To investigate KMKt students opinion on the amount of allowance they

2.
3.
4.
5.

get every month.

To find out how much money do KMkt students spend a month.
To find out how KMkt students overcome their money shortage.
To investigate how much money do KMKt students save per month.
To investigate how many times KMkt students go for outing in a month.

1.4 Research Questions

1. Is your monthly allowance given by the college sufficient for you?
2. How much money do you need to meet your monthly expenses?
3. How much money do you spend every month?
4. Where do you spend most of your money?
5. On what item do you spend most of your money?
6. Do you have money shortage problem?
7. How do you overcome your money shortage problem?
8. How much money can you save money per month?
9. Where do you save your money?
10. When did you start opening a bank account?
11. How many times do you go for outing in a month?

12. What is your main reason for going outing?

CHAPTER 2: LITERATURE REVIEW

2.1 Definitions of Money and Money Management
All of us need money, but not many of us know how to manage money
well especially college students. Furthermore, the awareness of money
management is low among college students. According to Wikipedia, money
is defined as any item or verifiable record that is generally accepted as
payment for goods and services and repayment of debts in a particular
country or socio-economic context. While Wikipedia, define money
management as the process of managing which include investment,
budgeting, banking, and taxes. In my opinion, money management is the
process of knowing where our money is going now and having a plan in place
for where we want it to go in the future.

2.2 Mistakes in Managing Money and Ways of Managing

Money
For many young people, college is their first money management
experience. However, many students are not adequately prepared to handle
their own finances. According to Jonwallace (2014), most common mistakes
college students make when managing money are we are not aware of
where our money is going, not having aims for our money, not determining
compulsory and non-compulsory item and we often loves to follow the peers.
Overspending is a problem everyone faces at one time or another
especially college students. Vohwinkle , J. mentioned that the most
important steps in managing money is to truly understand our expenses . So
in order to gain control over our financial life is by creating a spending plan
or budget list. Having a spending plan will allow students to see where the

money is going and where we can cut back our spending. Williams,H also
stated that having a spending plan means our spending or expenses should
never exceeds our income .We must track our money. Once we realize how
much impulse buying and other indulgences cost us, it will be easier to tell
ourselves not buy it.
Next, Amanda,C (2012) said that one of the way of managing money
more effectively is by determining what is essential and non essential items .
Nowadays, college students often find difficulty in determining the difference
between essential and non essential items as we are not exposed in ways of
managing our money effectively. Food, hygienic products and clothing are
examples of essential items as we need them for daily basis. While nonessential items are the products that we would like to have. Discerning the
difference between wants and needs is a great skill to learn. Mastering that
distinction not only helps us with our money management while in college,
but will continue to help us throughout our life.
Peers can influence us to spend money that we would not spend if it
were not for the peer pressure. Whenever we are going out with friends
remember to stick on our budget and remember is it okay to say no.
Furthermore, avoid following in the footsteps of liberally-spending friends, but use
the weight of a crowd to save everyone money. On the other hand, peers can
influence us positively by encouraging us not to spend money unwisely.

2.3 Benefits of Good Money Management

When we are able to manage money in a good way we should live a
more stress-free life. Money has to be managed properly in order to reduce
stress involve with it. Effective money management will avoid serious
consequences. Next, good money management could help us achieve our
dreams in life. Almost every dream is involve with money in order to achieve
it. Being able to effectively manage money is the only way for most people
to achieve their dreams.

CHAPTER 3: RESEARCH METHOD

3.1 Research Respondents

For our research project, we choose KMKt students as our respondents.

Both male and female KMKt students were chosen as the respondents to suit
our research topic, Money Management among KMKt students. 50
students were chosen to be our respondents. The respondents were in the
average of 18 years-old and they came from Science and Account courses.
The respondents came from different family background and various parts of
Malaysia, East Coast, West Coast and East Malaysia. We chose these kinds of
respondents so that they can represent the real population of our research.

3.2 Research Instrument

For doing a research we can use other survey or observation method. We used survey
method to save our time. We also used questionnaire as our instrument to carry out the survey.
We prepared 50 copies of questionnaire which contain 12 questions. The respondents have to
circle only one answer which is the most relevant to them from each question. Each question
contains 2-5 optional answers. However, the respondents do not need to write anything for this
questionnaire as it is a multiple choice answer. It is much easier for them because they only need
to tick one answer which is the most relevant to them. Below are the research questions of
questionnaire:
1) Is your monthly allowance given by the college sufficient for you?
2) How much money do you need to meet your monthly expenses?
3) How much money do you spend every month?
4) Where do you spend most of your money?
5) On what item do you spend most of your money?

6) Do you have money shortage problem?

7) How do you overcome your money shortage problem?
8) How much money can you save money per month?
9) Where do you save your money?
10) When did you start opening a bank account?
11) How many times do you go for outing in a month?
12) What is your main reason for going outing?

3.3 Research Procedure

23th November 2014
Our group members choose and discussed about the topics for the
research.
30th November 2014
Our topic for the research is approved by teacher and we started to find
some articles related to our topic.

7th December 2014

We used dictionaries and other sources to find the meaning of the words
that were regularly used while doing this research.

16th December 2014

We started to discuss questions for the questionnaires. Then, we submitted
the questionnaire to be approved by teacher.

24th December 2014

We started to distribute our questionnaires to the respondents. Then, we
collected all the questionnaires and made a calculation.

8th January 2015

We analyses 12 questions from the questionnaire based on our survey
result .Then, we complete the undone part of the research.
.

25th January 2015

We submitted our research report to the teacher.

CHAPTER 4: RESULTS AND ANALYSIS

1. Is your monthly allowance given by the college sufficient for you?

60

50

40

30

No. of Students

20

10

0
Just Enough

Not Enough

More than Enough

Graph 1.1: KMKt Students Opinion about their Monthly Allowance

Analysis of Graph 1: KMKt Students Opinion about their Monthly Allowance
Graph 1.1 shows KMKt students opinion about their monthly allowance. Majority of
KMKt students or 52% of the respondent said that their monthly allowance is not enough.
While 42% of KMKt students stated that their monthly allowance is just enough. However,
6% of KMKt students stated that their monthly allowance given is more than enough. In
conclusion, the students need more money.

2. How much money do you need to meet your monthly expenses?

60
50
40
30

No. of students

20
10
0
RM100-RM150 RM151-RM200 RM201-RM250 ABOVE RM250

Graph1.2: KMKt students opinion on the amount of money to meet their monthly expenses
Analysis of Graph 1.2: KMKt students opinion on the amount of money to meet
their monthly expenses.
Graph 1.2 shows KMKt students opinion on the amount of money to meet their monthly
expenses. Firstly, there is a same number of students who stated that. While, 26% of the students
choose RM151-RM200 as the amount of money to meet their monthly expenses. Apart from that,
half of the students or 50% of the respondents choose above RM250 as the amount of money to
meet their monthly expenses. In conclusion, half of KMKt students state that the amount of
money to meet their monthly expenses is above RM 250.

3. How much money do you spend every month?

45
40
35
30
25
20
15
No. of Respondents

10
5
0

Graph 2.1: The amount of money KMKt students spend a month.

Analysis of Graph 2.1: The amount of money KMKt students spend a month.
Graph 2.1 shows the amount of money KMKt students spend a month. Firstly, 16% of
the students spend around RM50-100 and RM101-RM150 every month respectively. Besides
that, 28% of the students stated that they spend around RM151-RM200 in a month. While, the
highest amount of money spend by KMkt students in a month is more than RM200 with a
percentage of 40%. In conclusion, most of KMKt students spend more than RM200 in a month.

4. Where do you spend most of your money?

60
50
40
30
20
10

No. of Respondents

Graph 2.2: Place where KMKt students spend most of their money.
Analysis of Graph 2.2: The place where KMKt students spend most of their money.
Graph 2.2 indicates the place where KMKt students spend most of their money. To begin
with, the place where KMKt students spend most of their money is College Caf with a
percentage of 48%. While,16% of the students spend most of their money at shopping complex
and 12% at the bookshop respectively. Other than that, 20% of the students spend most of their
money at fast-food outlet and only 4% of the students spend most of their money at
entertainment centre. In conclusion, many of KMKt students spend most of their money at
college caf and only a small number of students who spend most of their money at
entertainment centre.

5. On what item do you spend most of your money?

80%

72%

70%
60%
50%
40%
30%
20%
10%

4%

10%

8%

6%

0%

On what item do you

spend most of your
money?

Graph 2.3 The item KMKt students spend most on.

Analysis of Graph 2.3: The item KMKt students spend most on.
Graph 5.1 shows on what item KMKt students spent most of their money.The items that
KMKt students spend most on is food with a percentage of 72%.Only 4% of KMKt students
spend their money on clothing. Meanwhile, 10% of KMKt students spend their money on
stationary&book .Moreover, KMKt students spent their money on handphone bills with a
percentage of 8%. Lastly, only 6% of KMKt students spend most of their money on transport and
travelling. In conclusion, most of KMKt students spent most of their money on food.

6. Do you have money shortage problem?

70%
60%

58%

50%
42%
40%

Do your have money

shortage problem?

30%
20%
10%
0%

YES

NO

Graph 3.1 Money shortage problem between KMKt students.

Analysis Graph 3.1: Money shortage problem between KMKt students.

Graph 6.1 shows the money shortage problem between KMKt students. 58% of KMKt
students are having money shortage problem. While another 42% of KMKt students are not
having any money shortage problem. In conclusion, the percentage of KMKt students who are
having money shortage problem is higher than the percentage of KMKt students who are not
having money shortage problem.

7. How do you overcome your money shortage?

45
40
35
30
25
20
15
10
5
0

40
28
14

14
4
Series 1

Graph 3.2: KMKt students ways of overcoming money shortage problem.

Analysis Graph 3.2: KMKt students ways of overcoming money shortage problem.
Graph 3.2 shows KMKt students ways of overcoming money shortage problem.There
are several ways of overcoming money shortage problem used by KMKt students. The most
preferable way of overcoming money shortage problem for KMKt students is by buying the
necessary item only with the percentage of 40%. There are few KMKt students with similar
percentages of 14% who prefer avoid going outing and take less meal in overcoming money
shortage problem. Next, only 4% of KMKt students who prefer borrowing money from friend to
overcome the problem. While, another 28% of KMKt students choose to ask money from their
parents. In conclusion, KMKt students most preferable way of overcoming money shortage
problem is by buying only necessary items.

8. How much money can you save money per month?

45%

42%

40%
35%
30%

30%
24%

25%

How much money can

you save money per
month?

20%
15%
10%
4%

5%
0%
Not a single cent

RM21-RM30

Graph 4.1: The amount of money KMKt students save per month.

Analysis of Graph 4.1: The amount of money KMKt students save per month.
Graph 4.1 shows the amount of money KMKt students save per month. To start with,
30% of KMKt students are not able to save a single cent.Whereas, the highest percentages of
KMKt students save per month is around RM10-RM20 with the percentages of 42%. While,
24% of KMKt students are able to save around RM21-30 in a month. Lastly, only 4% of KMKt
students are able to save more than RM50 in a month. In conclusion, mostly, KMKt students are
able to save around RM10-RM20 in a month.

9. Where do you save your money?

60%
50%

50%
40%
30%

28%
22%

Where do you save your

money

20%
10%
0%

Bank

Wallet

Locker

Graph 4.2: Where do KMKt students save their money.

Analysis of Graph 4.2: Where do KMKt students save their money.

Graph 4.2 shows where do KMKt students save their money. Firstly, 28% of KMKt
students save their money in the bank. 50% of KMKt students save their money in the wallet.
While another 22% of KMKt students save their money in locker. To conclude, half of the
students in KMKt prefer to save their money in their wallets than bank and locker.

10. When did you start opening a bank account?

60%
50%

50%

40%
30%
20%
10%
0%

24%
16%
10%

When did you start opening

a bank account?

Graph 4.3: When did KMKt students start opening a bank account.
Analysis of Graph 4.3: When did KMKt student start opening a bank account.
Graph 4.3 illustrates when did KMKt students start opening a bank account. To begin with,
50% of KMKt students started opening their bank account since primary school. In comparison,
only 10% of KMKt students started opening their bank account since lower secondary school.
While,16% of the students started opening their bank account since upper secondary school.
Lastly, students who started opening a bank account after SPM are 24%. This shows that, half of
the students already opened a bank account since primary school.

11- How many times do you go for outing in a month?

40
35
30
25
20

No. of Respondents

15
10
5
0
ONCE

TWICE

3 TIMES

4 TIMES

Graph 5.1: How many times KMKt students go for outing in a month.
Analysis of Graph 5.1: How many times KMKt students go for outing in a month.
Graph 5.1 shows how many times KMKt students go for outing in a month. Firstly, only
18% of KMKt students go outing once in a month. On the contrary, 34% of KMKt students go
outing twice in a month. While 28% and 20% of KMKt students go outing 3 times and 4 times in
a month respectively. This shows that, students who prefer to go outing twice are 34% more than
those who prefer to go outing once in a month.

12- What is your main reason for going outing?

50
45
40
35
30
25
20
15
10
5
0

No. of Respondents

Graph 5.2: KMKt students main reason for going outing

Analysis of Graph 5.2: KMKt students main reason for going outing
Graph 5.2 illustrates KMKt students main reason for going outing. To begin with, 46%
of KMkt students stated that their main reason for going outing is to buy needs. While, there are
a few KMKt students with similar percentages of 14% who go outing to have fun and to release
stress. The second highest percentages of KMKt students main reason for going outing is to
withdraw money with the percentages of 26%. In conclusion, the highest percentages of KMKt
students main reason for going outing is to buy their needs.

CHAPTER 5: CONCLUSION
5.1 Conclusion

The survey was carried out from 50 respondents among male and female KMKt students.
The research consists of Science and Account courses that divided equally. First and foremost,
the objective of this research is to investigate Money Management between KMKt Students.
This research purpose is to focus on money management awareness among KMKt students. The
research also aimed to identify on how KMKt students manage their money when pursuing their
studying in college. For the data, the researchers get the information by using questionnaire. We
conducted a survey by distributing the questionnaire to 50 students. The answers were then
processed by tabulating the data and illustrating them into a graph. The results from the survey
are used to make an analysis for each graph. Based on the results, we can see that the
questionnaire plays an important role in getting the data and illustrating them into a graph.
From the graphs created, we can conclude that majority of KMKt students find
that the monthly allowance given to them are not enough. In addition, half of KMKt students
opinions are above RM250 on the amount of money to meet their monthly expenses. Generally,
most of the students spend more RM200 in a month. Mainly, college students spend most of their
money at college caf to buy food. Next, more than a half KMKt student are having money
shortage problem and they tend to buy only necessary items in order to overcome the problem.
Besides that, the amount of money that can be saved by most of the KMKt students are around
RM10-RM20 per month.While there are only a small number of students who are able to save
more than RM50 in a month. Furthermore, most of KMKt students prefer to save their money in
the wallet than saving their money in the bank and locker. Half of the college students also
started opening a bank account since primary school. Moreover, KMKt students tend to go
outing twice in a month and their main reason for going outing is to buy needs.

5.2 Recommendation and Suggestion

This research has thrown up many questions for future research. We

would like to give some recommendations for future research. First, the time
given to complete this task is too short. So, we hope that the time given to
complete the task to be extended longer to get better results. Other than
that, college should support the cost for the research so that this research
will proceed smoothly. Then, the respondents should be cooperative to
answer the questionnaire. In order to get the correct data, the researcher
hopes that the respondents give the answer sincerely. Hence, the researcher
can give the right conclusion. The researcher hopes the library can provide
more books so that we will be able to get more information. Moreover, the
respondents will give full cooperation so the researcher can complete the
research on time.

REFERENCES
1. Bedel, E.E (no date). Financial Issues Facing College Students. In
http://www.insideindianabusiness.com/contributors.asp?id=2019 .
Retrieved on 1st December 2014
2. Haury , A.C (20 July 2012) . Money Management for College Students.
In http://finance.yahoo.com/news/money-management-collegestudents213610793.html;_ylt=A2oKmMn5gYdUxXwAVH8PQgx.;_ylu=X3oDMTBy
b2lkZ2kyBHNlYwNzcgRwb3MDMgRjb2xvA3NnMwR2dGlkAw-- .
Retrieved on 1st December 2014

3. Lazarony, L . (no date). 12 Money Management Tips for College

Students. In http://www.bankrate.com/brm/news/sav/2000081
4b.asp .Retrieved on 1st December 2014

4. Vohwinkle, J. (no date). College Students and Money. In

http://financialplan.about.com/od/students/a/College-Students-AndMoney.htm . Retrieved on 1st December 2014

5. Williams ,Helen. (no date). Money Management Tips to Make University

Life that Little Bit Easier. In
http://www.telegraph.co.uk/education/universityeducation/8681912/Stu
dent-finance-money-management-tips-to-make-university-life-thatlittle-bit-easier.html . Retrieve on 1st December 2014

6. Curtis,S (10 April 2012) . The Benefits of Good Money Management

Skills. In http://EzineArticles.com/?expert=Sue Curtis Retrieved on 1st
December 2014

APPENDINCES

Table 1.1: KMKt Students Opinion about their Monthly Allowance

Students Opinion
Just Enough
Not Enough
More than Enough

No. of Respondents
21
26
3

%
42
52
6

Table 1.2: KMKt students opinion on the amount of money to meet their monthly expenses

Students Opinion
RM100-RM150
RM151-RM200
RM201-RM250
ABOVE RM250

No. of Respondents
6
13
6
25

%
12
26
12
50

Table 2.1: The amount of money KMKt students spend a month.

Students Opinion
RM50-RM100
RM101-RM150
RM151-RM200
MORE THAN RM 200

No. of
Respondents
8
8
14
20

%
16
16
28
40

No. of
Respondents

Food

36

72

Clothing

Stationary & Book

10

Student's Opinion

Handphone Bills
Students Opinion4
Transport or
3
Travelling COLLEGE CAF
SHOPPING COMPLEX
BOOK SHOP
FAST-FOOD OUTLET
ENTERTAINMENT CENTRE

Table 2.2: Place where KMKt students spend

most of their money.

8 of
No.
Respondents
6
24
8
6
10
2

%
48
16
12
20
4

Table 2.3: The item KMKt students spend most on.

Table 3.1: Money shortage problem between KMKt students.

Student's Opinion

No. of Respondents

29

58

Yes
No

Student's Opinion
Buy the necessary item
only

21

No. of
Respondents

42

20

40

Avoid going outing

14

Take less meal

14

Borrow from friend

14

28

Ask from parent

Table 3.2:KMKt students ways of

overcoming money shortage problem.

Student's Opinion

No. of Respondents

Bank

14

28

Wallet

25

50

Locker

11

22

Table 4.1: The amount of money KMKt students save per month.

Student's
Opinion

No. of
Respondents

Not a single cent

15

30

RM10-RM20

21

42

RM21-RM30

12

24

More than RM50

Table 4.2: Where do KMKt students save their money.

Table 4.3: When did KMKt students start opening a bank account

Student's Opinion

No. of
Respondents

Since primary school

25

50

Since lower secondary

school

10

Since upper secondary

school

16

After SPM

12

24

Table 5.1: How many times KMKt students go for outing in a month.
Students Opinion

ONCE
TWICE
3 TIMES
4 TIMES

No. of
Respondent
s
9
17
14
10

18
34
28
20

Table 5.2:KMKt students main reason for going outing.

Students Opinion

TO BUY NEEDS
TO HAVE FUN
TO WITHDRAW MONEY
TO RELEASE STRESS

No. of
Respondent
s
23
7
13
7

46
14
26
14