Factor Identification and Usage of Pocket Money among Students: A Case Study

International Journal of Research and Innovation in Social Science (IJRISS) | Volume II, Issue IX, September 2018 | ISSN 2454–6186

Factor Identification and Usage of Pocket Money among Students: A Case Study

Iqra Mukhtar^#, Anam Javaid^*

^#,*The Women University Multan, Pakistan

Abstract—Pocket Money is an important factor in student’s life style because it matters a lot on their life style among friends in the institution. The current study is about the daily pocket money amount of the students and identification of different factors effecting on their pocket money. Different factors like age, family income, qualification, expenditure on transportation, shopping, having meal on restaurant, amount spend on their food, basic necessities and luxuries from their pocket money has been used. Average pocket money of students has been analyzed as 149.304 rupee per day by taking 500 observations from different institutions by using questionnaire survey through purposive sampling from district Multan. Frequency distribution is constructed and Chi square is used to find association of different factors of pocket money.

Keywords— Pocket Money, Income, Saving, Expenditure.

I. INTRODUCTION

Pocket money can be defined as a small amount of money given to a child by its parents, typically on a regular basis. Pocket money is an important factor regarding student’s living style especially among their friends in the institution. Different students get different pocket money depends on the family income, status, level, age etc. different works have been done regarding this topic as Furnham (1999) investigated the adult’s perceptions and the use of allowance or pocket money to educate the children and for this purpose they used data of 400 British adults through questionnaire about their attitudes towards, and behaviour concerning, allowances (pocket money) to children and young people [1]. Lewis and Scott (2000) investigated that Pocket money practices had an effect on economic socialization so the persons who received pocket money regularly in childhood at age 16 to 18 were more competent economically[2]. Barnet-Verzat and Wolff (2002) performed the work on Motives related to allowance of Pocket money allowance and family incentives [3].

Read More