Introduction No money no talk. Money, money and money. People always mentioned this word in their life.

Do you think money is important in our life besides food, shelter and love? If you think so, then why we need it? Nowadays, we always heard about bank robbery, snatch thefts, loan sharks and others through media. Why did these crimes happened? It is because they have financial problem in their life until they involved in crimes. Financial problem also happened among students especially when they further their study away from their hometown. Students always complaint about sort of money.

1.2 Statement of Problem This paper examines the reasons students have poor financial management, excessive spending behaviour and living away from family are the causes of financial problems among college students. First of all, poor financial management is the main cause students are facing financial problem. For majority students, it is the first time they have experienced financial independence without parents supervision. They fail to do the management and flow of their money. They do not have the skill to manage their own money. They do not ensuring that the money well spent and not misused. This problems are common among students attempting to balance small budgets with living expenses. Some students are not mature enough to handle finances and they overspend. Poor financial management also happened when students do not have discipline in their budgeting and spending money. Some student like to buy things without considered about the prices. Which mean student do not make the best buy that can help student spend less money. Besides, although students have tights budget but they tend for living financially. For example, students that like to go to bars, partying and even go to the pubs. They do not really planning the future used of the money

which can help them to buy books instead for spending the money in wrong way. So, at the end of the day, they will face a big crisis of money problems. Furthermore, students always make excessive spending behaviour. They like spending more than what they need and have no self-disciplined in sending money. It is like a students habit too. Most college students have spend money either from earning or allowances. But with little need to pay for living expenses. Many teens develop spending habits that become unrealistic when they must support themselves. Sometime, student can become to high-spending lifestyle, it can accustomed be hard for them to develop new habits that contribute to long term financial well being. They do not ensure that their money was spent on correct way. But then, they cannot cover all their necessities. This problem also happened when the individual has chosen a friend which is a big spender. They can be easily influenced by their friend. Especially when they spend their money at expensive places like Pizza Hut, McDonalds and Starbucks. Spending your money at expensive places can easily make your money gone so fast. Besides, they like to follow their friends trend and lifestyle. For example, when their friends have a new mobile phones then the individual starts to feel envy and make a desire to buy more trendy phone than their friends. Sometimes, student have strong desire which make they really want to buy anything they want. They dont decide carefully when using their money and make wise financial choices. So, it is more to their personal desire on what they decided. Finally, the cause of financial problems is living away from family. For majority students, it is their first time to live independence and support themselves. When they with their family, all their finance were managed by they parents. But when they entering the college, they cannot handle all their finances. They do not know how to spend their money wisely and save money for future used. They do not have anyone to manage and control their financial except themselves. So, without any experience in handling their own financial, it is seem hard for them to control their budgets and expenses. Lifestyle in college and at hometown is very different. Students have to survive and struggle by themselves. Financial

problems will make another burden for students. Students have to rely on money from their family when their allowances run out. So, it is all depend on themselves to handle their own finance. No one advise them in spending their money. In conclusion, college students nowadays have financial problem during their study. Poor financial management, overspend and living away from family is the main causes students have financial problem.

1.3 Objective 1.3.1 1.3.2 1.3.3 To investigate whether KML students have financial problem. To investigate the financial management among KML students. To study KML students ways to overcome their financial problems.

Questionaire Gender: Programme: Course: Origin: Ethnicity: Male Female PST Module 1 Sabah PDT Module 2 Sarawak Module 3 Accountancy

West-Malaysia

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A)

To investigate whether KML students have poor financial problems. Do you have a financial problem? Are you from a boarding school? Do you satisfy with your allowance? Yes Yes Yes No No No

Do you have any side allowance? (Yayasan Sarawak, JPA, etc) Yes No

Approximately, how much money did you spend in a month? Less than RM100 RM200 RM300 RM100 RM200 RM300 RM400 RM400 RM500 More than RM500

B)

To investigate the financial management among KML students. Do you make a planning before you spend your money? Yes No

Which categories you spend more? (list according to the most priority (6) to the less priority (1)

Food Stationery (Pens, Books, etc)

Health (Lotion, Perfume, etc) Wardrobe (Neck-tie, Tudung, etc)

Entertainment (earphones, etc) Leisure (watching movies, etc)

How many time(s) in a week do you go outing?

_____times

Is it necessary to spend more money on entertainment or leisure? Yes No

C) To study KML students ways to overcome their financial problems. Do you spend your money more often on expensive things? Yes Do you need financial advisor? Yes Do you save your money for your future use? Yes No No No

Are you satisfy with your current financial management? Yes No

Give suggestion on how to overcome your financial problems. ______________________________________________________________________ ______________________________________________________________________