The Issue of Living Frugally amongst Students of Private Higher Education Institution in Selangor

Financial problem is amongst the issues frequently faced by students at the higher education level, particularly in private higher education institutions. This issue contributes to the decline in students’ academic performance and discipline throughout their period of study. The objective of this study is to identify the issue of “tightening one’s belt” or “living frugally” among students, as well as to analyze daily spending patterns in order to understand their financial management practices. The study also examines the relationship between knowledge of daily expenditure management and attitudes toward daily expenditure management. The study employs the planned behavior theory to evaluate the roles of knowledge and attitudes, as well as the relationship between intention and financial management behavior. A quantitative approach was adopted, using a questionnaire distributed to 214 respondents to obtain relevant data on daily expenditures and the issue of living frugally faced by students. The findings indicate that students’ knowledge of financial management is at a moderate level with a mean score of 3.36 (SD = 1.23), while students’ attitudes toward financial management is also moderate, with a mean score of 2.95 (SD = 1.15). The research hypothesis was rejected, as the correlation values showed no significant relationship between the two constructs. Both the Pearson test (r = 0.066, p > 0.05) and the Spearman test (rs = 0.053, p > 0.05) indicated statistically very weak and insignificant correlations. Nevertheless, this study still provides guidance for students on more efficient financial management practices. In addition, universities and religious institutions have the potential to serve as role models in assisting students to overcome financial difficulties. Overall, this study makes a valuable contribution on efforts to improve students’ well-being in private higher education institutions through better financial management and support from religious institutions

STUDENT FINANCIAL MANAGEMENT

1. Zainal, N. A., Abdullah, S., & Hashim, M. (2021). Food insecurity among Malaysian university students: A review. Malaysian Journal of Social Sciences and Humanities, 6(4), 45–53. [Google Scholar] [Crossref]

2. Malaysiakini. (2016, Januari 28). UIA student faints after not eating for two days. [Google Scholar] [Crossref]

3. Ismail, R., Johari, R., & Baharuddin, S. (2022). Rising cost of living and its impact on student wellbeing in Malaysia. Journal of Higher Education Policy and Management, 44(1), 67–79. [Google Scholar] [Crossref]

4. Norazman, M. R., Ali, N. S., & Mokhtar, K. (2021). Post-pandemic food security among B40 students in Malaysian higher education institutions. ASEAN Journal of Open and Distance Learning, 13(2), 33–47. [Google Scholar] [Crossref]

5. Ali, S., Hassan, F., & Lim, C. Y. (2020). Mental health and food insufficiency: Evidence from university students. Journal of Student Affairs Research and Practice, 57(4), 459–472. [Google Scholar] [Crossref]

6. Yusof, M., & Rahman, H. A. (2023). Social support mechanisms for food-insecure university students in Malaysia. Pertanika Journal of Social Science and Humanities, 31(1), 101–115. [Google Scholar] [Crossref]

7. Ibrahim, N., Ismail, R., & Yusof, M. (2021). Food insecurity and its association with mental health among university students in Malaysia. Malaysian Journal of Nutrition, 27(2), 145–155. [Google Scholar] [Crossref]

8. Abdullah, H., Lim, W. Y., & Anuar, M. (2022). Socioeconomic determinants of food insecurity among tertiary students in Malaysia. Asia Pacific Journal of Public Health, 34(1), 88–94. [Google Scholar] [Crossref]

9. Yusof, N. H., & Sulaiman, N. (2020). Household income and the impact on student access to food and learning resources. International Journal of Academic Research in Business and Social Sciences, 10(6), 178–189. [Google Scholar] [Crossref]

10. Alias, N., Johari, R., & Hamzah, N. (2021). Coping with food insecurity: Lived experiences of low-income university students. Malaysian Journal of Social Sciences and Humanities, 6(12), 123–135. [Google Scholar] [Crossref]

11. Wong, K. T., Chong, S. C., & Lim, C. Y. (2023). The link between nutrition and academic outcomes among university students. Journal of Higher Education Research, 5(1), 77–90. [Google Scholar] [Crossref]

12. Rahman, S., & Mohd Noor, N. F. (2022). Role of higher education institutions in supporting student welfare: A case of food assistance programs. Journal of Student Affairs and Development, 40(2), 203–219. [Google Scholar] [Crossref]

13. Zainuddin, S. Z., Ahmad, M. S., & Khalid, A. (2023). Policy interventions for food insecurity among Malaysian undergraduates: A stakeholder perspective. Pertanika Journal of Social Science and [Google Scholar] [Crossref]

• The Correlation of Marketing Strategies and Financial Performance of Motor Parts Businesses in the City of Mati
• The Role of Blockchain-Based Smart Contracts in Enhancing Financial Transparency and Efficiency in the Emerging Market
• Exploring Intention among Universiti Teknologi Mara Terengganu Community to Donate into Education Waqf Fund
• Utilizing AHP Method to Rank Preference of Waqf Fund Usage for UiTM Terengganu, Malaysia
• The Influence of Portfolio Diversification on Financial Performance: Evidence from Listed Banks on the Ghana Stock Exchange