Money management Essay

Ever since trading began, specie existed, thus, it chiffonier be s assistant that specie and trading co-exists. The earliest fig of money is actu solelyy very different from what we atomic number 18 using today in this modern cosmos. The history of money begins around 2500 years ago. bills is any clearly identifiable object of value that is gener anyy accept as payment for goods and services and repayment of debts within a grocery or which is legal tender within a country. occupationBarter is a governing body of exchange in which goods or services are directly exchanged for separate goods and services. No money is needed in duty system as it does non involve the process of purchasing and selling. Although in that location is no evidence pointing towards a society or deliverance relies solely on commerce system, it is believed that barter basically dominated the pre-historical world and at that time, people would just exchange things according to necessity. Thus, ba rter system can be said to be a primitive design of money as it contributes towards the birth of money. T here are several complications of barter system Absence of jet measure of value In a monetary economy, money plays the role of a measure of value of all goods, so their values can be measured against each other this role may be absent in a barter economy. Indivisibility of certain goods If a person wants to buy a certain summation of anothers goods, but lone(prenominal) has for payment one indiscrete unit of another good which is worth more than what the person wants to obtain, a barter transaction cannot occur.Lack of standards for deferred payments This is related to the absence of a common measure of value, although if the debt is denominated in units of the good that will eventually be utilise in payment, it is not a conundrum. Difficulty in storing wealth If a society relies exclusively on perishable goods, storing wealth for the future may be impractical. However, some barter economies rely on durable goods desire pigs or cattle for this purpose. Adapted from WikipediaStatement of the problemIt was discovered that only a small portion among university students rattling bonk how to manage their money well. Most of university students are still struggling with basic money forethought. They do not harbor enough of a handle on their hard currency flow to spend less than they labor from their lends. In other words, silly money management such as over pass is the main make up of this problem among the university students.PurposeThe purposes of the study is to look into money management of the students in UniSZA.Objectives1) To investigate the way of the students in UniSZA spend their money 2) To determine the main score of monetary problem for students in UniSZA. 3) To suggest the ways to solve monetary problems face by students in UniSZA by providing them with the best money management plan.Research questions1) How do the students in UniSZA spend their money?2) What is the main cause of monetary problem for students in UniSZA 3) How can the problems faced by students in UniSZA be solved?Significance of the StudyIt is an undeniable fact that university action and normal daily life do have differences when it comes to money management. The actor of the article wrote that university students should be taught the value of money as they will be earning their own very soon. This is true. University is a boundary that separates us from the real world, the running(a) world. With away meet management of wealth, especially for students, it could spell disaster. Not only there would be butterflies flying out the purse and holes being burnt in the wallet, bank nib could also stumble to single digit and last naught.Things might get worst when they enter the society without knowing concerning money management and if this situation occurs, their bright future might be at stake and this could jeopardize their chances to succeedin life. Thus, financial management should take time off early, when theres still money in the bank account for one to manage. For students in UniSZA like us, we might often be bothered by monetary problems. We dont know where our money went to.Well, they do not just disappear into the thin air, nor would they escape from our wallet, thus, we must know where we spent our money on so that we can cut checkmate on expenses and inculcate proper financial management. As university students, therere a some money management skills that should be practiced and here are some explanations that may provide some insight or clues for one to properly manage his or her money so as to get the most out of ones money. 1 cod a plan for itTheres a saying goes, those who decease to plan, plans to fail. Thus, proper money management starts with a plan for our money. For the study loan such as PTPTN, bursary or JPA scholarship received each semester, we should have a plan for it so that every thing would go on smoothly.Knowing the debits and assign is equally important here and tracking our own expenses is surely a must as we can track all the unneeded pig out we bought by keeping the receipt of the things weve bought and later revise on our spending to cut down economic consumption. Getting ourselves organized and preparing and jotter to jot down our expenditure is also a brilliant idea. 2 Understand our financial aid and financial statusAs university students, one of the best steps towards proper financial management may be to add up all our income and also the money well need to fork out. Income includes the money allowance accustomed by the governments, student loan, scholarships, bursaries etc. Bursaries, on the other hand offers RM 2550 for bursary recipients. Bursary is actually money given to students as a kind of financial aid. In this content, bursary is eligible for students who got 9A+ and above in their SPM. Besides, we can also look out for scholarships such as JPA. By being awake(predicate) of our financial status, we can look into every nook and cranny of our daily life to sustain money.Take ATM machines for example, it may charge card holder of other banks some additional fee whenever transaction is made, thus, by being aware of this, we can take the measurements needed and save money. We should also be on the alert towards burglary as that is the worst possible way for one to losemoney. 3 Use the available tools towards our benefitWe should also use the benefits meant for students to our advantage. When buying books, deviation for a movie and buying food, for example, we can produce discount card exclusive for students in order to enjoy discounts. Though its not a whole lot of money were saving, it could sum up to a considerable amount of money over time. For example, Kad siswa which was launched a few years ago provides card holders with a plethora of discounts in just about anything. Besides, 1 Malaysia book voucher is another tool available that would be of great help in our money management.Scope of StudyThe composition will cover the methodology for money management of students in UniSZA. visual sense and research will be done in order to get the results before discussion about the findings. The main points of the report will be summed up as the conclusion and some suggestions for solving monetary problems faced by students in UniSZA will be found.