SPENDING PRACTICES AND MONEY MANAGEMENT STRATEGIES OF ASPIRING ACCOUNTANTS: AN INVESTIGATION

Abstract

The study generally aimed to investigate the spending practices of the aspiring accountants at the Cagayan State University at Aparri. Specifically, the study sought to determine the profile of the aspiring accountants as to the source of financial supports, occupation of parents and siblings, and type of residence during schooling. It also assessed where do most of the allowances of students go and the strategies students employ when they fall short of allowance. The descriptive qualitative research design was used employing a simple survey questionnaire and interview.  Findings revealed that financial support among aspiring accountants is mostly received from their parents.  Most of the aspiring accountants’ father is a farmer, their mother is a housewife, their siblings are mostly OFW/DH/Seaman and their relatives are vendors or businessman. Their residence during schooling is mostly with their parents.  Their money is most often spent on food, fare, cellular phone loads, school requirements, and material possessions.  When they fall short on their allowances, the students resorted to borrowing food or money from family or friends, drawing out from savings, lying, cutting back on spending, and earning extra money.