This study discusses the “Factors that influence the buying behavior of financial management students according to their weekly allowance. This paper started by defining the financial management and the meaning of buying behavior. It also tells the buying behavior of Asian and Filipino people and discusses the factors that will influence the buying behavior. The survey is all about the possible factors that can affect the buying behavior. At the next part of the study was the result of the conducted survey.
By the end of this research, the conclusion is reached by the researchers that the result of the survey for the Financial Management students here in De La Salle Lipa. It seems that the Financial Management students know how to manage their allowance weekly. This problem is answered by the researchers and by the survey of the financial students.
The Bachelor of Science in Business Administration major in Financial Management (BSBA- FM) program is desired to provide student with knowledge and skills of the theories, concepts, and principles of finance and financial management. The program is credited to prepare students for careers in the competitive world of finance and business. Financial management students have a buying behavior that will act accordingly in their weekly allowance. The buying behavior can be defined as the way in which consumers or buyers of goods and services tend to react or behave when purchasing products that they like. Buyers tend to exhibit different types of buying behavior when they are in the process of purchasing goods (BMS M.U., n.d.) Buying behavior is the decision processes and acts of people involved in buying and using products. The factors that influencing the buying behavior of Financial Management students according to their weekly allowance are based on their social factor, psychological factor, priorities and interests.
According to Hellmutt Schutte (n.d.), the Asian has four factors that can influence their buying behavior such as social factor, psychological factor, interest and recent mentality evolution. The Asian college students, especially Filipinos manage their money based on several factors such as age, personality traits, and knowledge. College students are in a unique situation because they have restricted income and high expenses; therefore, they manage money differently. Personal care is another big expense for college students, with $4 billion spent a year for personal care products alone. Students also spend a lot of money clothing them. Nationally, students spend more than $5 billion a year on clothes and shoes (State University, n.d.)
Based on Proctor the consumer behavior has four main situations; the habitual situation, impulse buying, limited decision making and complex buying decision. Environmental factors, situational factors, and level of involvement have also a big role on consumer behavior. Psychological factors such as motivation, learning, belief and attitude, personality,...