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Factors Influencing Students’ Cost of Living: Evidence from Malaysian Universities

It is widely evident that cost of living among university students are increasing over time. That said, little is understood about factors associated with general expenses among students in Malaysian universities. The present study uses primary survey data (n = 454) to examine the correlates of th...

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Main Authors: Tok, Hui Lin, Cheah, Yong Kang
Format: Article
Language:English
Published: UUM Press 2024
Subjects:
HG Finance
Online Access:https://repo.uum.edu.my/id/eprint/30370/1/IJBF%2019%2001%202024%20107-132.pdf
https://doi.org/10.32890/ijbf2024.19.1.5
https://repo.uum.edu.my/id/eprint/30370/
https://e-journal.uum.edu.my/index.php/ijbf/article/view/20396
https://doi.org/10.32890/ijbf2024.19.1.5
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spelling my.uum.repo.303702024-02-05T08:38:48Z https://repo.uum.edu.my/id/eprint/30370/ Factors Influencing Students’ Cost of Living: Evidence from Malaysian Universities Tok, Hui Lin Cheah, Yong Kang HG Finance It is widely evident that cost of living among university students are increasing over time. That said, little is understood about factors associated with general expenses among students in Malaysian universities. The present study uses primary survey data (n = 454) to examine the correlates of the total amount of money spent by students in a month. An ordered regression model was used to shed light on factors contributing to different magnitudes of expenses. The explanatory variables consisted of demographic factors, financial knowledge, parental income, peer influence, and personality trait of conscientiousness. Findings from the present study showed that a large proportion of students spent between Ringgit Malaysia (RM) 201 and RM400 per month. Young, male students tended to spend more than older, female students. Expenditure was higher among Chinese students than Malays. Educational levels and income were found to correspond to spending. Having good financial knowledge was associated with reduced expenditure. Students who were influenced by their peers were likely to indulge in high spending compared to those who were not. These findings have important implications for strategic planning and to assist policymakers, parents, and university authorities in formulating better intervention measures aimed at improving students’ spending behaviour, thereby lowering cost of living. UUM Press 2024 Article PeerReviewed application/pdf en cc4_by https://repo.uum.edu.my/id/eprint/30370/1/IJBF%2019%2001%202024%20107-132.pdf Tok, Hui Lin and Cheah, Yong Kang (2024) Factors Influencing Students’ Cost of Living: Evidence from Malaysian Universities. International Journal of Banking and Finance (IJBF), 19 (1). pp. 107-132. ISSN 2811-3799 https://e-journal.uum.edu.my/index.php/ijbf/article/view/20396 https://doi.org/10.32890/ijbf2024.19.1.5 https://doi.org/10.32890/ijbf2024.19.1.5
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutional Repository
url_provider http://repo.uum.edu.my/
language English
topic HG Finance
spellingShingle HG Finance
Tok, Hui Lin
Cheah, Yong Kang
Factors Influencing Students’ Cost of Living: Evidence from Malaysian Universities
description It is widely evident that cost of living among university students are increasing over time. That said, little is understood about factors associated with general expenses among students in Malaysian universities. The present study uses primary survey data (n = 454) to examine the correlates of the total amount of money spent by students in a month. An ordered regression model was used to shed light on factors contributing to different magnitudes of expenses. The explanatory variables consisted of demographic factors, financial knowledge, parental income, peer influence, and personality trait of conscientiousness. Findings from the present study showed that a large proportion of students spent between Ringgit Malaysia (RM) 201 and RM400 per month. Young, male students tended to spend more than older, female students. Expenditure was higher among Chinese students than Malays. Educational levels and income were found to correspond to spending. Having good financial knowledge was associated with reduced expenditure. Students who were influenced by their peers were likely to indulge in high spending compared to those who were not. These findings have important implications for strategic planning and to assist policymakers, parents, and university authorities in formulating better intervention measures aimed at improving students’ spending behaviour, thereby lowering cost of living.
format Article
author Tok, Hui Lin
Cheah, Yong Kang
author_facet Tok, Hui Lin
Cheah, Yong Kang
author_sort Tok, Hui Lin
title Factors Influencing Students’ Cost of Living: Evidence from Malaysian Universities
title_short Factors Influencing Students’ Cost of Living: Evidence from Malaysian Universities
title_full Factors Influencing Students’ Cost of Living: Evidence from Malaysian Universities
title_fullStr Factors Influencing Students’ Cost of Living: Evidence from Malaysian Universities
title_full_unstemmed Factors Influencing Students’ Cost of Living: Evidence from Malaysian Universities
title_sort factors influencing students’ cost of living: evidence from malaysian universities
publisher UUM Press
publishDate 2024
url https://repo.uum.edu.my/id/eprint/30370/1/IJBF%2019%2001%202024%20107-132.pdf
https://doi.org/10.32890/ijbf2024.19.1.5
https://repo.uum.edu.my/id/eprint/30370/
https://e-journal.uum.edu.my/index.php/ijbf/article/view/20396
https://doi.org/10.32890/ijbf2024.19.1.5
_version_ 1792158586180206592
score 13.211869

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