Sunday, March 10, 2013

College Students' Spending

     A recent study was conducted by two Kalamazoo College students on college students' spending. This study focused on how gender and age influence students' spending on food, apparel, transportation, entertainment and school supplies. It specifically compared the difference between men and women's spending on clothes, shoes, perfume, and underwear and the difference in spending on school supplies between freshmen, sophomore, junior, and senior.

     107 students from various colleges and universities responded and finished a survey on spending habit. For the apparel section, the survey asked students' last purchase. The students who conducted this study assumed that women would spend more money on clothes, shoes, perfume, and underwear. According to this study, women generally spend more money on shoes. For clothes, perfume, and underwear, there is no statistical evidence to support that women spend more money than men. Thus, men may spend more money than women in these categories. Another interesting facts is that Upperclassmen tend to spend less money on books compared to underclassmen. On average, seniors spend $120 on textbooks, but freshmen spend $245. The reasons vary; one can be that seniors have more sources for books. They can ask friends or buy books at cheaper price on online, yet freshmen lack sources in general. Over all, there is no relationship between income and total spending. Students with a high income may spend less or more money; students with low income may spend less or more money. However, there is a relationship between students' total spending and allowance. More allowance indicates more spending.

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