Bulgarian Journal of Science and Education Policy (Dec 2020)
Analysis of Spending Pattern among Undergraduate Students of Nigeria: A Case Study of University of Nigeria, Nsukka
Abstract
The study analyzed the spending pattern among undergraduate students of University of Nigeria, Nsukka. The study adopted the survey research design. The population comprised all first, second, third and final year undergraduate students of the University of Nigeria, Nsukka (UNN). The sample for this study was made up of 700 undergraduate students of the UNN and was selected using the simple random sampling technique. A structured questionnaire titled: Analysis of Spending Pattern of Undergraduate Students in Nigeria was the instrument used for the study. The validity of the instrument was ascertained by expert judgment and the validated version of the instrument was trial-tested using 100 undergraduate students who did not participate in the main study. The Cronbach Alpha method was used to determine the reliability of the instrument which yielded an internal consistency index of 0.86. Data collected for the study were analyzed using frequency and percentages. Result revealed that while over half of the population (55.4%) of the UNN undergraduate students obtained pocket money from their parents and guardians/caregivers and were dependent, only 8% of them were partially or fully independent as they relied on the income they earned from doing part-time jobs during long vacation and 17.3% of them got their allowance/income from profits made from doing their personal businesses. Results also revealed that undergraduate students of Nigeria spent below average of their earning on basic necessities such as feeding (40%), accommodation (40%) and books (40%) and only 20% on other goods and services. Consequently, it is recommended that universities should provide assistance to their undergraduates in the form of training, seminars or counselling so as to give financial management assistance for their current and future endeavours.
