BUDGETING STRATEGIES OF FINANCIAL MANAGEMENT STUDENTS: A BASIS FOR INVESTMENT DECISION
Students' investing choices and budgeting techniques need to be taken into consideration. This is crucial because, in order to make wise financial decisions and understand the potential effects these decisions may have on their life, students need to understand the principles of decision-making. Students should think about various elements that could affect their decision-making since they might not always make logical decisions. This study aimed to assess the budgeting strategies of the financial management students of School of Business Administration and Governance for the Academic Year 2022-2023, as a basis for investment decision. This study employed a Mixed Method research design for better analysis of the study. The participants of the study were the Financial Management Students at the University of Cagayan Valley. Frequency and percentage counts and T-Test were used to treat the data. Based on the findings of the study, it can be concluded that the 50/30/20 budget and envelope budgeting methods emerge as effective tools for fostering disciplined spending habits among participants, and by combining these approaches, individuals can manage their money strategically and practically. The researcher suggests that future researchers address alternative demographic characteristics that may influence budgeting techniques among financial management students, as current findings imply that gender and year level may not be major contributors.
Budgeting, Budgeting Strategies, Envelope Strategies, Investment, 50/30/20 Budget.