University Students’ Money Management Practices in an Island Province

This study examined the money management practices of university students in an island province, focusing on the College of Business and Management at Guimaras State University – Salvador Campus during the first semester of academic year 2023–2024. Employing a quantitative descriptive research design, data were gathered from a sample of 332 students selected through stratified random sampling to ensure representation across demographic groups. A researcher-made questionnaire, validated by experts and tested for reliability (Cronbach's alpha = 0.785), was used to assess students' money management practices. Data were analyzed using frequency, percentage, mean, and analysis of variance (ANOVA). Findings revealed that students were predominantly young, female, and financially dependent on their families, with limited access to scholarships and substantial allowances. While students demonstrated commendable short-term money management skills such as budgeting for necessities, tracking expenses, and setting aside emergency funds, their long-term practices—particularly in structured savings, investment, and financial planning—were less developed. Significant differences in money management were observed when students were grouped by age, course, year level, weekly allowance, and source of allowance, underscoring the role of demographic and economic factors in shaping financial behaviors. Based on these findings, the study recommends that the University strengthen financial literacy initiatives to cultivate a responsible money management culture that supports students' academic success and future financial stability.