Students' financial condition and willingness to engage in extracurricular activities

Abstract

Students' financial condition can profoundly impact their academic and personal lives. Students from lower-income backgrounds may face challenges affording tuition fees, transportation costs, and living expenses, which can lead to increased stress and anxiety, potentially impacting mental health and well-being. A significant contribution of financial condition is made to several Sustainable Development Goals (SDGs). This study investigates the students' financial condition and willingness to engage in extracurricular activities of 100 respondents who qualified as enrolled under the College of Business Administration Education of the University of Mindanao. The questionnaire used in this study was adapted and modified. The researchers used a random sampling method to choose members of the population to participate in the study, and a descriptive method was utilized to distribute questionnaires and collect and gather the data for this study. The statistical tools employed in treating the problem were Mean, Pearson Product Moment Correlation of Coefficient, and Standard Deviation. Furthermore, findings reveal a significant effect of financial behavior in relationships on the student's financial aid and cognitive ability, suggesting that extracurricular activities can enhance academic performance up to a certain threshold. Additionally, the study revealed a high level of financial behavior across the assessed dimensions. Students must improve their financial behavior and condition by educating themselves on financial literacy, budgeting effectively, saving regularly, avoiding unnecessary debt, seeking financial aid, maximizing income through part-time work or internships, making wise investments, setting and planning for financial goals, staying informed, and seeking support and guidance when necessary. These actions empower students to manage their finances responsibly.