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PRACTICES OF SAVINGS AMONG STUDENTS

Beatrice Anak Wong

He Corporate Master of Business Administration 79 2013 S3 8369 2013

Pusat J(hidmat M kJVNIYERSm VI u

abull Umat Akademik IYUUdyenSIA SARAWAK

PRACTICES OF SAVING AMONG STUDENTS

PKHIOMAT MAKLUMAT AKAOEMIK

11111 1IIIIIliITIIIIIII III 1000246889

BEATRICE ANAK WONG

11031900

A Research Paper Submitted in Partial Fulfilment of

the Requirement for the Degree of

Corporate Master in Business Administration

Faculty of Economics and Business UNIVERSITY MALAYSIA SARA WAK

(2013)

2

APPROVAL PAGE

I certified that I have supervised and read this study and in my opinion it conforms to

acceptable standards of scholarly presentation and is fully adequate in scope and quality as a

research paper for the degree of Corporate Master in Business Administration

Name Professor Dr Abu Hassan Bin Mohd Isa

Supervisor

This research paper was submitted to the Faculty of Economics and Business UNIMAS and

is accepted as partial fulfillment of the requirements for the degree of Corporate Master in

Business Administration

Professor Dr Shazali bin Abu Mansor

Dean Faculty of Economics and Business

UNIMAS

3

STATEMENT OF ORIGINALITY

The work described in this Research Paper entitled


is to the best of the authors knowledge that of the author except

where due reference is made

16 August 2013

Date BEATRICE ANAK WONG

11031900

4

I

Pu~at Khidmat Maklurnat Akadcmik lNIVEHSlTl MALAYSIA SA AWAK

ABSTRACT

(ThiS research explores the saving practices among students and the purpose or goals of their

saving The combination of respondents involved students from secondary and college or

universities level There were some students at the secondary level have scholarship and at

the college or university there were students who have allowance (especially students at the

Institute of Teachers Education) and students have education loan (PTPTN) The

combinations of these statuses give clearer views and understandings to other readers and

would be also useful for students in the futurV

I This study used questionnaire-based surveys to get information and data from students Data

collected from 70 students at the secondary level and 230 students at the college or university

level totalling 300 students overall

The results revealed that the saving practices are increased with the college age which

students at the secondary level have less saving practices and less responsibility to control

and manage their expenditure But at the college age students have better saving practices

budgeting and tracking their spending more regularly Furthermore they have more banking

options which enable them to control their cash outflow thus have more experienced in

dealing with money Financial knowledge help to guide and improve their saving practices

which require much effort and discipline

The finding also indicated that saving for retirement period was students priority Majority

of students were aware that it is very extremely important to save for retirement and that the

age option of retirement give students clearer understanding to save at the earlier age and not

saving only when they become employees

5

Several implications emerge from this study that student at the lower level have many

weaknesses towards saving practices and their saving behaviour were mostly influenced by

their parents Additionally educators at schools have less effort and effective teaching

method to teach and improve students at schools on saving practices

Therefore the recommendations suggest that curriculum at schools should introduce the

financial management courses for students to expose them with the world of money

management This could help to guide and encourage students to save at the young age

Parents and educators should play an important role by equipped themselves with money

management practices and help to establish or organise more financial seminars and

workshops It is hoped that this study would give advantage not only for students but parents

educators and other readers

6

ACKNOWLEDGEMENT

First of all I would like to express my appreciation to my supervisor Professor Abu Hassan

for his advice guidance and his great encouragement I am very happy to have the

opportunity to complete this study under his supervision I would also like to thank our

course coordinator Dr Mahani Bin Mohamad Abdu Shakur for her advice and support

especially during the early stages of this study Many thanks to Prof Abu Hassan and Dr

Mahani for their assistances and having faith in me to complete this study

I would also like to express my appreciation to my friends Sherryline Entia Buja (SMK

Selirik Kapit) Shirley Empen (IPO Campus Miri) Jani Leburn (IPO Sultan AHalim) and

Ardiles Anthony (College Technology Sarawak Kuching) for their help to distribute the

questionnaire surveys and help me to carry out data collection

Lastly to all survey participants in this study I gratefully acknowledged your kind

participation

7

Pusat Khldmat Maklumat Akademlk UNlVERSm MALAYSIA SARAWAK

TABLE OF CONTENTS

Page

Approval Page 3

Statement of Originality 4

Abstract 5

Acknowledgement 7

CHAPTER I INTRODUCTION

11 Introduction 10

12 Problem Statement 11

13 Objectives 15 12

14 Scope of the Study 16 13

15 Sifnificant of the Study 17 14

CHAPTER II LITERATURE REVIEW

21 Factors Influencing Students to Save 19 16

211 Financial Knowledge 16

212 Parents Responsibilities 17

22 Theory of Saving Behaviour 18

221 Effect of Financial Management on Saving Behaviour and Financial Problem 18

22 2 Income and Saving Behavior 19

23 Sources of Money for Saving 20

231 Scholarship and Education Loans 20

232 Allowances 21

24 Purpose of Savings 22

8

241 Emergency Times 22

242 Savings For Education 23

243 Savings For Retirement 24

CHAPTER III HYPOTHESES DEVELOPMENT

31 Hypothesis 1 26

32 Hypothesis 2 28

CHAPTER IV RESEARCH METHODOLOGY

41 Introduction 29

42 Research Design Sampling 29

43 Development of the Questionnaires 30

44 Structure of the Questionnaire 31

CHAPTER V DATA AND RESULTS

51 Data Analysis Section A 35

52 Data Analysis Section B 38

53 Data Analysis Section C 44

54 Section C SUMMARY 52

55 Data Analysis Section D 54

56 Section D SUMMARY 60

57 Implications and Recommendations 61

58 Conclusion 63

59 Limitations of the Study 64

REFERENCES 66

Appendix 1 amp 2 69

List ofTables 75

List of Figures 76

9

CHAPTERl INTRODUCTION

11 Introduction

Savings are usually put into the safest places or products that allow us to access our

money at any time The recent economic slowdown has changed our economic environment

and the way people think about financial issues Students face many hard financial decisions

Errormiddot in money management can impact them long after graduation Many students end up

making some costly money mistakes thus these mistakes can actually cause damage that

lingers for decades (Xiao et aI 2007) As a young adult they need to figure out how to pay

for college earn some spending money and still get a good education

While students are in schools and maybe even right after they graduate they are going to be

on a tight budget It can be depressing and frightening to realize that they do not make

enough money to cover their monthly expenses Many students are struggling to find decent

jobs after graduate and payoff their debt These contribute to the increased in loan default

cases of the National Higher Education Fund Corporation or known as PTPTN By the year

2005 PTPTN has reported a deficit of RM7 billion (US$22 billion) due to low rate of loan

repayment In 2011 it was reported that 132801 borrowers of PTPTN have been blackHsted

due to failure ofloan repayment (The Star 2011)

There also a serious problem in credit management among college or university students as

they have easier access to financial sources such as credit and debt (Peng et aI 2007) If a

utility bill or a credit card payment is missed or paid late their credit rating may suffer After

graduation a poor credit report can hinder the process of renting an apartment or applying for

a car loan If students mishandle their finances while in college or university it may have a

10

negative impact long after he or she graduates In Malaysia it was reported that 50 of credit

card holders who declared bankrupt are below 30 years old (Ng 2009 The Star 2010)

The number of students experiencing financial difficulties has increased significantly 10

recent years and is likely to continue doing so This paper sets out to identify and explore the

best and appropriate saving practices amongst college or university students This paper is not

just exploring the saving practices but to identify the main purposes of savings by students It

will provide a better understanding for students regarding his or her financial situation The

finding of the paper can provide an excellent opportunity and guidance for students to

develop their financial skills that will benefit them for the rest of their life

12 Problem Statement

The problem of this research is to identify and explore the saving practices among students

Adam Davidson New York Times Magazines column writes savings have fallen steadily

for more than 30 years from a high of nearly 12 percent of income Lack of parent savings

for college is an access issue for many students A new report from the EARN Research

Institute outlines the results that 59 percent said one reason they (parent) are not saving

because they are unsure of the best way to save or how to get started This problem had

caused their children (students) depend too much on education loans Students access to

financial resources even loans and debt gives them the opportunity to spend money on basic

and luxury needs (Leila Falahati et tal 2011) Increased cost of living becomes a factor for

the need to have good saving practices In education college or university tuition and fees

have generally been rising around the world In 2010 Britain allowed universities in England

to increase undergraduate tuition to as much as pound9000 a year about triple the previous rate

11

College or university students do not have proper finance skills A new study from the

University of Arizona and the National Endowment for financial Education which was

released in April 2009 showed that students received an F grade for money management

skills And almost two and a half years later the survey shows students ability to handle

money has declined by 7 percent The expansion of the consumer market and marketing

activities makes it harder for individuals to cope with the markets increasing demand for

their money (Masud et aI 2004)

The lack of financial knowledge and education leads students to face financial problems

Some courses or programmes provide financial educations are not effective and inadequate

for students to learn and improve their money management (Croy et aI 2010) said many

students experience financial hard times when they finished their studies finding a job and

when they get older because they never got the facts on saving They think that saving is

something that they do not need to consider right now

A re earch is therefore necessary in order to reach reasonable and effective findings The

find ings would benefits students to achieve financial success

13 OBJECTIVES

1 The specific objective is to identify and explore the saving practices amongst

secondary and college or university students

2 To identify the main purposes of saving by students

12

14 SCOPE OF THE STUDY

This study focuses on university students from University Technology Sarawak in Kuching

and students from two colleges of Institute of Teachers Education in Miri and in Sungai

Petani Kedah The sample will comprised students randomly in the university to answer the

questionnaire regardless which semester are they in The researcher chooses this university

because the majority of the students are Malays and Bumiputera groups and majority of the

students have an education loans and monthly allowance especially students at the Institute

ofTeachers Education The researcher would combine all respondents from the three institute

of higher learning as one sample of college or university level The results later can be a

guide tor other university students regardless their ethnics

Apart from that this study will involve secondary school students (Form Six Upper and

Lower Class) from Sekolah Menengah Kebangsaan Selirik Kapit The majority students are

Iban and this school located in rural Kapit area As this group are pre-university students it is

very essential to study and explore their savings practices when they still in school This

result can be used as their guidance to learn and understand the important of savings practices

as a preparation for them to enter new campus life This meant that those students will

manage their own finance matter and not more depend on their parents And this will prove

that savings practices are important and useful for student to prepare themselves in future

13

I I

15 SIGNIFICANT OF THE STUDY

This research is very important because to date there is no research on this topic Actually

there was a research done by lariah M from University Putra Malaysia on 2011 but the paper

focuses on financial practice and problems of the elderly in Malaysia There also a research

done by Chor-Foon Tang from Media Utara Resources on 2008 which that paper focuses on

the relationship between savings behaviour and its determinants in Malaysia

Many people know that lack of savings is a very serious problem amongst students in our

country Students are very weak in manage their money Sometimes students not planning

their budget effectively especially new col1ege or university student They always makes

wrong decision when it comes to buy or purchase what their wants and needs Students also

often influenced by their friends We need tomorrows generation of young consumers to be

able to make critical purchasing decisions and understand how personal finances affect other

areas of their lives

The scholarship and education loans provided for students caused most parents feel that it is

not important for them to make savings for their children college tuition and university fees

(Webleyet ai 2006) While the great cost of a college education should not be entirely the

responsibility of parents any amount that parents can set aside for their children can decrease

the amount the student might have to take out in loans or cover with other funding Some

parents never teach their children to save and manage their money wisely at younger age

Apart from that the educators are too depends on the courses or programmes especially in

financial education but not try to encourage their students to practice it in the real life

Therefore this research will benefit the educators by exposing students to more practical

teaching method especially in finance education

14

The fmdings acquired from this research would certainly benefit many individuals especially

students and group of people in our country and elsewhere around the world middot First and

foremost it would help to reduce any financial problems students have to face with It would

equip young people - students and non-students alike with the good skills and practices

knowledge and confidence they need to make financial decisions Students will know and

understand what they must do (the ways to save) and what purpose of their savings

Secondly parents also would benefit from this research as this will help to improve their

thinking that it is very important for them to plan and to save for their children education It

also would help parents to encourage their children to start saving at a young age Besides

that this research provides parents with easy to understand information about how to save

and the benefits of saving for college

The government also can benefited from this research When students have good savings

practices means that they can manage their money wisely and they can make better decision

about their daily expenses Therefore when students start savings now they will have good

financi al status in future and thus can repay their loans (PTPTN) on time The numbers

students blacklisted as they are not able to repay their loans can be reduced This will be

advantage for government because they can generate income from the loans interest thus the

government can provide loans and scholarship to more students in future As a result more

students able to continue their studies

15

CHAPTER 2

LITERATURE REVIEW

21 Factors Influencing Students to Save

211 Financial Knowledge

One of the articles which has attracted researchers attention is a term paper written

by Mohamad Fazli Sabri and Maurice MacDonald (2010) entitled Savings Behavior

and Financial Problems Among College Students The Role of Financial Literacy in

Malaysia They demonstrate that students who had higher financial knowledge were

more likely to report savings behaviour and also reported fewer financial problems

According to them students with financial knowledge promote better financial

management whether or not they can afford to indulge themselves during the college

years The study done by Cunningham 2001 Nellie 2002 point out those students

entering their university education without ever having been responsible for their own

personal finances While in the college or university students have to manage their

own expenditures Students ability to manage their financial resources is very

important for everyday life activities Financially educated people are able to make

better decision thus lead to higher financial security (Hilgert and Hogarth 2003)

Recent studies are mostly focus on the financial planning of university students

because many of them fail to plan their expenditure and unexpectedly experience

financial problems While many worries of the importance of financial education

Brennan and Ritters (2004) indicated that financial education plays a key role in

financial empowerment Many researchers have suggested that a lack of financial

knowledge and skills results in students experiencing financial problems Norvilities

et al (2006) and Hilgert and Hogart (2003) indicated that financial knowledge is one

16

of the strongest predictor of financial behaviour among university students Financial

education or knowledge should be based on the needs interests and abilities of each

student Clearly more financial education is needed for young adults to better the

economy

212 Parents responsibilities

Researchers have conducted studies on the parental role of a childs financial

education The trend in research demonstrates that a childs most significant source of

financial knowledge comes from their family Danes Sharon M (1994) points out

that parent plays an essential role in transferring knowledge of the realistic and

sensitive aspects of money Young people experience difficulty in practising good

financial guidance In addition many parents thought that they can influence or

encourage their children spending habits due to peer influence The family is the

source for most of a childs financial knowledge and provide the most deep-seated

education Clarke et al (2005) found that the poor financial habits of parents

commonly present themselves in their childrens lives He added parents have the

responsibility to guide and educate their children to create and maintain on mature

responsibilities and tasks Some parents may not feel comfortable with their own

financial situation therefore it may be difficult for them to talk about the matter with

their children Children watch and model their parental figures If more parents could

factually educate their children about finance children may be less likely to develop

poor habits Parents can help children become effective money managers and

responsible buyers by teaching them money management skills from an early age It is

suggested by Clarke et al (2005) young adults feel more equipped to manage their

17

own financial responsibilities if they received a good education on the subject at

home thus it shows that the best educations starts at home

22 Theory of savings behaviour

221 Effect of Financial Management on Saving Behaviour and Financial Problem

Financial management refers to a set of behaviours related to cash management credit

management financial planning investments insurance and retirement and estate

planning (Parotta amp Johnson 1998) Previous studies have found that individual

positive financial management practices have been the single most influential

detenninant of household solvency status and financial satisfaction (Joo amp Grable

2004 Parotta amp Johnson 1998)

Personal financial problem are mostly cited as a caused of workplace troubles Low

salary overspending heavy debts spending behaviour and lack of knowledge about

money are the main causes of people (employees) financial problems In 2004 there

were 16251 consumer bankruptcies were filed which increased up to 32 (12351 in

2003) from the previous year (Malaysian Central Bank 2005) Sporakowski (1979)

argued that financial problems cause stress and crisis Not only the poor worried about

the financial problems but also the middle and high income people are no exception

It is not the high salary can guarantee people not having the financial problems but it

is their financial management

18

1

In terms of previous literature financial management practices were the most

significant determinant of financial problems Better financial management practices

lead to lower levels of financial problems and higher levels of financial satisfaction

222 Income and Saving Behaviour

Saving behaviour occurs when current income exceeds current consumption and

therefore when total resources increase Not saving is the opposite of saving Saving

leads to asset accumulation as long as saving is greater than not saving People might

simply make deposits immediately after receiving income before making any other

purchases or payments As the cost of living are getting high people face with income

instability and people (especially workers debt) is increasing and it is getting hard to

find employment opportunities deficient savings increased anxiety among moderate

and low-income household (Cho 2009) This phenomenon has concerned consumers

of the adequacy of their savings which could cause their saving rate declined over

time One study conducted by The Pew Research Center (2007) found that almost

80 of Americans always try to save however 63 responded they do not save

enough While Hurd and Zissimopolous (2000) reported that about 70 of

respondents saved too little within the past 20 to 30 years Low-income people

(household) tend to have low saving rate which could lead to health problems

Shefrin and TIlaler (1988 1992Thaler 1990 Thaler amp Shefrin 1981) proposed the

behavioural life-cycle hypothesis that is the most well-developed theoretical

framework related to saving They stress that individuals are tempted to spend and

that saving requires effort and self-control Low-income people or families are

19

consuming less than high-income people and thus have higher marginal utility of

consumption (Chiteji amp Hamilton 2000 Edin amp Lein 1997)

In a second proposition of the behavioural life-cycle hypothesis Shefrin and Thaler

said that the source and the amount of resources received largely determine whether

resources are earmarked as spending money or assets

23 Sources of Money for Saving

231 Scholarship and Education Loans

Scholarship and education loan are the major sources of money that student have An

education loan The National Higher Education Fund Corporation loan (PTPTN) is

the major ource of financing for tertiary education in Malaysia The availability of

this loan since 1997 has enabled more students to pursue higher education

By 2000 the government extended the loans to students attending public universities

as well Between 1997 and 2005 the NHFEC loaned RM 151 billion to almost

800000 students (World Bank 2007)

The most important issue facing the loan program is financial sustainability In

general payment compliance has been low and the Treasury has cut its budget

transfers to NHEFC in recent years which has caused the agency to borrow at very

high interest rates NHEFC reports that it recovers only 25 percent of what it should

be recovering In addition a large imbalance between new loans and repayments can

be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA

Figure 21 Loans availability to students from2000 to 2005 Source World Bank

2007

On February 2013 Prime Minister Datuk Seri Najib Razak had launched the Skim

Prihatin Pendidikan IMalaysia (SPPIM) to assist students at the tertiary level obtain

additional study loans The SPPIM loan acts as a top-up to the existing PTPTN loan

for students pursuing their bachelors degree or masters in certain fields

Scholarships and education loans axe becoming more important than ever before

Besides that the cost of college is increasing and college savings can be the first thing

to go

232 Allowances

An allowance should be a specific amount of money decided by both the student and

parent and given at a specific time such as weekly or monthly As students age

increase they will probably have more money under their control and become more

responsible for their personal spending Also they tend to appreciate more the goods

and services they buy with their own money especially if they have saved for them

21

over a period of time An allowance can help eliminate the problem of parents having

to say uno when their children ask for money regularly It is an important tool for

teaching money management skills of how students manage their own money based

on their needs wants and goals Students should have control over how the

allowances is spent or saved Parents can encourage their children to make carefu1

spending decisions and plan the use of their money An allowance can help make

students independent and give them confidence and self-discipline in handling money

24 Purpose of Savings

241 Emergency times

Saving money for an emergency fund is important for everyone at all times Having a

savings account for emergencies can prevent financial disaster in the event of

students unemployment after graduate An emergency fund can come in handy any

time students experience a shortage in income or an increase in expenses An

emergency fund can also help students avoid using their credit cards or incurring debt

to pay for emergencies that arise Dave Ramsey an outspoken radio talk show and

television show host who teaches a course called Financial Peace University suggest

on his website Dave Ramseycom that people should have a starter emergency fund

of $100000 Ramsey suggests this serve as emergency fund until they have paid off

all of their high interest credit card debt at which they should begin building a full

savings account for emergencies

There was a survey done by Varcoe (1990) for 934 households in California regarding

methods for meeting unexpected expenses or emergency expenses He found that they

use regular savings 22 percent used emergency savings 14 percent borrowed money

from a financial institution and 8 percent borrowed from friends or family Therefore

22

saving now or saving earlier can certainly be a good starting point and can help

student cope with those minor emergencies that crop up in day-to-day life Building

an emergency fund for unexpected needs is important

242 Savings for Education

College costs are ridiculously expensive and getting more expensive every year as

the rate of tuition costs increases at a faster rate According to the Bureau of labor

Statistics the tuition component of the Consumer Price Index (CPI) increased by 8

per year on average from 1979 to 2001 This means that children born today will

face college costs that are 3 to 4 times current prices by the time they matriculate A

poll by AllianceBernstein Investment Inc found that 42 of students who graduated

with debt described themselves as living paycheck to paycheck compared with 24

for those who graduated without debt 22 of those with debt said that finances

limited their college choices 76 reported worrying about money in college 42 of

those with debt said that college jobs affected grades compared with 30 for those

without debt The poll was conducted on the Internet of 1508 college graduates ages

21-35 between April 24 and May 1 by Matthew Greenwald amp Associates Inc 1007

of respondents graduated college with some debt 501 graduated with no debt Survey

results were reweighted to be representative of the education age and gender

distribution of the US College graduated population

23

243 Savings for Retirement

For an elderly living in a country with mandatory retirement it means no earned

income flowing into the family except for those with pension As Malaysia is going

to achieve develop nation status by 2020 it is also facing challenges of being an aged

nation which means the elderly would have limited financial resources with the

increased longevity The financial resources will influence their purchasing power and

well-being The financial behaviouT during younger age affects the financial practices

of the elderly Therefore good financial practices during younger age lead to financial

well-being in old age Good financial practices during younger years can be a factor

to ensure financial independence or security in old age since one of the recommended

financial goals is savings for old age (Garmen and Fougue 2004 Kapoor Dlabay amp

Huges 2004)

Individuals are responsible for their own financial security after retirement The

biggest concerns people have to face is that they have to decide not only how much to

save for retirement but also how to allocate their pension wealth Prawitz et a1 (2006)

point out that many of those near retirement still in fund shortage needed for a

comfortable life which cause millions people struggle financially People have less

ability to save and to secure a comfortable retirement if they have low financial

literacy and lack of financial information Additionally lack of understanding about

financial concepts would relate to lack of retirement planning and lack of wealth

The thought of IRAs 401Ks pension plans and social security may appear

incredibly irrelevant to college students who have yet to begin their careers however

even with uncertainty in the job market and economy in general experts say investing

in a retirement plan now has its advantages especiaUy for this generation Economic

24

Pusat J(hidmat M kJVNIYERSm VI u

abull Umat Akademik IYUUdyenSIA SARAWAK


PKHIOMAT MAKLUMAT AKAOEMIK

11111 1IIIIIliITIIIIIII III 1000246889

BEATRICE ANAK WONG

11031900

A Research Paper Submitted in Partial Fulfilment of

the Requirement for the Degree of

Corporate Master in Business Administration

Faculty of Economics and Business UNIVERSITY MALAYSIA SARA WAK

(2013)

2

APPROVAL PAGE





Supervisor






UNIMAS

3






16 August 2013


11031900

4

I


ABSTRACT






















5












6

ACKNOWLEDGEMENT












participation

7


TABLE OF CONTENTS

Page

Approval Page 3


Abstract 5

Acknowledgement 7


11 Introduction 10


13 Objectives 15 12












232 Allowances 21


8





31 Hypothesis 1 26

32 Hypothesis 2 28


41 Introduction 29












58 Conclusion 63


REFERENCES 66

Appendix 1 amp 2 69

List ofTables 75

List of Figures 76

9


11 Introduction





















10























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24

APPROVAL PAGE





Supervisor






UNIMAS

3






16 August 2013


11031900

4

I


ABSTRACT






















5












6

ACKNOWLEDGEMENT












participation

7


TABLE OF CONTENTS

Page

Approval


Abstract 5

Acknowledgement 7


11 Introduction 10


13 Objectives 15 12












232 Allowances 21


8





31 Hypothesis 1 26

32 Hypothesis 2 28


41 Introduction 29












58 Conclusion 63


REFERENCES 66

Appendix 1 amp 2 69

List ofTables 75

List of Figures 76

9


11 Introduction





















10























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24






16 August 2013


11031900

4

I


ABSTRACT






















5












6

ACKNOWLEDGEMENT












participation

7


TABLE OF CONTENTS

Page

Approval Page 3


Abstract 5

Acknowledgement 7


11 Introduction 10


13 Objectives 15 12












232 Allowances 21


8





31 Hypothesis 1 26

32 Hypothesis 2 28


41 Introduction 29












58 Conclusion 63


REFERENCES 66

Appendix 1 amp 2 69

List ofTables 75

List of Figures 76

9


11 Introduction





















10























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24

I


ABSTRACT






















5












6

ACKNOWLEDGEMENT












participation

7


TABLE OF CONTENTS

Page

Approval Page 3


Abstract 5

Acknowledgement 7


11 Introduction 10


13 Objectives 15 12












232 Allowances 21


8





31 Hypothesis 1 26

32 Hypothesis 2 28


41 Introduction 29












58 Conclusion 63


REFERENCES 66

Appendix 1 amp 2 69

List ofTables 75

List of Figures 76

9


11 Introduction





















10























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24












6

ACKNOWLEDGEMENT












participation

7


TABLE OF CONTENTS

Page

Approval Page 3


Abstract 5

Acknowledgement 7


11 Introduction 10


13 Objectives 15 12












232 Allowances 21


8





31 Hypothesis 1 26

32 Hypothesis 2 28


41 Introduction 29












58 Conclusion 63


REFERENCES 66

Appendix 1 amp 2 69

List ofTables 75

List of Figures 76

9


11 Introduction





















10























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24

ACKNOWLEDGEMENT












participation

7


TABLE OF CONTENTS

Page

Approval Page 3


Abstract 5

Acknowledgement 7


11 Introduction 10


13 Objectives 15 12












232 Allowances 21


8





31 Hypothesis 1 26

32 Hypothesis 2 28


41 Introduction 29












58 Conclusion 63


REFERENCES 66

Appendix 1 amp 2 69

List ofTables 75

List of Figures 76

9


11 Introduction





















10























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24


TABLE OF CONTENTS

Page

Approval Page 3


Abstract 5

Acknowledgement 7


11 Introduction 10


13 Objectives 15 12












232 Allowances 21


8





31 Hypothesis 1 26

32 Hypothesis 2 28


41 Introduction 29












58 Conclusion 63


REFERENCES 66

Appendix 1 amp 2 69

List ofTables 75

List of Figures 76

9


11 Introduction





















10























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24





31 Hypothesis 1 26

32 Hypothesis 2 28


41 Introduction 29












58 Conclusion 63


REFERENCES 66

Appendix 1 amp 2 69

List ofTables 75

List of Figures 76

9


11 Introduction





















10























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24


11 Introduction





















10























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24























11
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24
















13 OBJECTIVES




12



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24



















13

I I
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24
























14




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24




















15

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24

CHAPTER 2

LITERATURE REVIEW























16




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24




economy




















17




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24




















18

1























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24























19




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24




















be seen in Table 1

20

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24

Year Loan

Beneficiaries

I

Of

Graduates

I Making

Payments

Borrowed

Amounts (RM

million)

Amount Repaid

(RM million)

2000 94050 9059 22482 3

2001 110644 17634 20428 68

2002 105077 43343 17590 j 73

2003 112621 79338 19644 346

2004 119111 61011 24066 44

2005 144459 NA NA NA

Total I NA NA I

NA


2007







to go

232 Allowances






21









241 Emergency times
















22




















23












Huges 2004)













24









241 Emergency times
















22




















23












Huges 2004)













24




















23












Huges 2004)













24












Huges 2004)













24

PRACTICES OF SAVINGS AMONG STUDENTS of Savings Among Students (24pgs).pdfcard holders who declared...

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Transcript of PRACTICES OF SAVINGS AMONG STUDENTS of Savings Among Students (24pgs).pdfcard holders who declared...