849-861
Between Income, Savings and Investment, How Do College Students Perceive Money Management?
Authors: Arturo García-Santillán
Number of views: 19
The aim of the study is to evaluate the factorial solution that explains financial knowledge in the topics of income, savings, investment and how students perceive money management. For this purpose, the EFA and the SEM methodology are used. To obtain the information, a non-probabilistic sampling by self-determination was carried out, applying the instrument in electronic format and for the analysis; the EFA and SEM methodology was used. At the end of the estimated time for data collection, 596 participating students were achieved. The items of the variables income, savings, investment and money management from the scale used in Contreras (2016), were used. The main finding is the structure obtained from the confirmatory analysis, which presents acceptable indices of absolute goodness of fit, structural adjustment, and parsimony that allows us to understand how the student perceives income, savings, investment, and money management. The values obtained are acceptable based on the suggested theoretical criteria (RMSEA = 0,054; CMIN/DF = 2,749; GFI (,951), AGFI = ,926; PGFI = ,634; TLI = ,906; CFI = ,929; and parsimony: PRATIO = ,762; PNFI = ,681; PCFI = ,707). The result has practical implications for educational institutions, considering that in the academic training of students it is essential to encourage habits related to money. Considering that, economic income is a resource that they will have in their future when they work, then it is related to the habit of saving and investing, to this, we add the good and proper management of their personal finances, and finally, the cycle of promotion to savings.