Peer influence on saving behavior of students in UM Peñaplata college

Abstract

The study was conducted to determine the students' peer influence and saving behavior at UM Peñaplata College. The study was a quantitative descriptive-correlational design. The data were gathered using a survey questionnaire distributed to 89 students in UMPC. The weighted average mean and Pearson r were used to analyze the data. The study revealed no significant relationship between peer influence and saving behavior among college students. Contrary to popular belief, which suggested that peers played a crucial role in shaping financial decisions, this study found no statistically significant evidence to support such as relationship within the college students population. These findings imply that factors other than peer influence may substantially impact the saving behavior of college students at UM, such as personal financial goals, financial literacy, and individual attitudes toward saving.