PRASERTBOON

Rawipol Matt Prasertboon

Mr. Abel Cadias

English 10/04

June 5, 2019

Spending Habits of Mahidol University Demonstration School Students

All people have their own spending habits. Some could use more than others.

According to Kinasih (2016), about 80% of Thai people admit that they are aware of spending

money on somethings that are not necessary. The research also concludes that food and mobile

phones are what Thai people spend on the most. Students at Mahidol University International

Demonstration School are considered wealthier than the average Thai students due to the

tuition fees of the school. MUIDS students have good spending habits compared to teenagers.

The purpose of the research is to find the number of students in MUIDS who overs

spent their money allowance in a week. The importance of this research is to document the

spending habits of MUIDS students and also to bring awareness to the readers on the

importance of managing their money well. In the following research, the author cites three

academic researches, in order to gain more understanding of this particular research topic.

The first question asked how much money allowance do MUIDS students have per

week. The choices are 500 to 1000 baht, 1000 to 1500 baht, 1500 to 2000 baht, 2000 to 2500

baht, and 3000 baht or above. The figure 1 below shows that there are 15 students or 24.6%

have their money allowance up to 1000 to 1500 baht per week follows by 500-1000 baht,

1500-2000 baht, 2000-2500 baht, and 3000 baht or above with the percentage of 14 students

or 23%, 12 students or 19.7%, 11 students or 18% and 9 students or 14.8% respectively. The

second question asked do students at MUIDS overspent their money or not, and the choices

are either yes or no. Figure 2 below shows that only 18 students or 29.5% overspent their
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money, and the other 43 students or 70.5% manage their money well. Most of the students

have a weekly budget of 1000 to 1500 baht. Which according to the graph, they did not

overspend it. But those who overspend it only overspent it for about 1000 baht.

Each student in MUIDS has a different amount of money allowance per week and

different ways of how to use it. In a research by Messinger (2018), states that teenagers don’t

usually realize what they are spending money on. An important part of being successful with

their money is being able to track it. Furthermore, many students do not seem to notice about

the problem that leads by using too much money and not keeping track of it such as an

emergency problem. According to Lebowitz (2016), many teens will look to their parents

spending behavior and learn how to handle the cash. Parents can decide whether or not to spoil

a child by never say “no” to their kid when they are overspending. Tolar (n.d.), states that there

is a solution to this problem. Parents can prepare their kid for adulthood by not just giving

cash to their child, but make them earn it. By doing this teenager would learn how to use their

money properly.

Figure 1 amount of money allowance per week.

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Figure 2 students over spent their money or not

As the conclusion of this report, most students at MUIDS did not overspend their

money allowance but instead they know how to manage their money. Money management

skills is important to them to balance their financial. If the students don’t manage their money

well, it will affect their financial status in the future.

References

Kinasih, R. (2016). Research Round-Up: Kantar TNS & MarketBuzz Says 80% of Thais Are
Careful Spenders. Retrieved from https://ecommerceiq.asia/thailand-consumer-
spending/

Lebowitz, S. (2016). 4 things you're doing today that affect your child's wealth tomorrow.
Retrieved from https://www.businessinsider.com/how-parents-affect-kids-money
-management-2016-11

Messinger, J. (2018). Student’s Spending Habits. Retrieved from

https://www.capstonewealthpartners.com/students-spending-habits/

Tolar, T. (n.d.). Teens and Their Spending Habits. Retrieved from

http://www.leavedebtbehind.com/lifestyle/family-finances/teens-and-their-spending-
habits/