The Psychology of spending and saving among college students

Varun K; Nikhil S.R; Fiza Nargis M; Pavani B

The Psychology of spending and saving among college students

Author(s)	Mr Varun K, Mr Nikhil S.R, Ms Fiza Nargis M, Ms Pavani B
Country	India
Abstract	In our research paper, the study on psychology of spending and saving among college students. We believe that savings are very important not only for individual financial stability but also for the economic growth of our country. Nowadays college students face many financial challenges such as increasing education costs, easy access to digital payments, and growing social influence. Because of these factors, understanding how students manage their money has become very important. Through this study, we try to understand why students spend money, how they save, and what psychological factors influence their financial decisions. For our research, we collected responses from 102 students, mainly from the age group of 19–21 years. We found that most students depend on their parents or family as their main source of income, while a small percentage earn through part-time jobs. The majority of students spend money on personal and necessary expenses, but some also spend it on shopping and entertainment. At the same time, many students try to save money for future needs, emergencies, or specific goals. This shows that students are aware of the importance of saving, even though they sometimes struggle to control their spending. We also observed that psychological factors such as emotions, peer influence, habits, and financial literacy play a major role in spending behaviour. Most students said that they spend by their own choice, but many accepted that they sometimes feel guilty after making impulsive purchases. It is encouraging to see that many students avoid credit and “Buy Now, Pay Later” options. However, digital payments and online offers still make spending easier and more tempting. Overall, our study highlights the importance of financial literacy and self-control in developing good financial habits among college students. We believe that if students develop saving habits during their college years, it will help them achieve financial independence and reduce future financial stress. This research emphasizes the need for better financial education programs to guide students toward responsible spending and long-term financial security.
Keywords	College students, Spending, Saving
Field	Business Administration
Published In	Volume 8, Issue 5, September-October 2026
Published On	2026-09-26

View / Download PDF File

About IJFMR Fees & Payment Current Issue Publication Archive	Submit Research Paper Track Submission Status Publication Guidelines Publication Ethics Peer Review & Plagiarism	Join as a Reviewer Editors & Reviewers Reviewer Referral Program Get Reviewer Membership Certi.	Website/Journal Policies Usage Policy Content Policies Privacy Policy

Contact Us		+91-9687-828-838	editor@ijfmr.com

International Journal For Multidisciplinary Research

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

The Psychology of spending and saving among college students

Share this