Bee COINs: Financial Education Debunked was a 10-day youth exchange that took place in The Netherlands from 24 April till 5 May 2017. It gathered 42 participants from 7 different countries and empowered them to learn from each other about financial education. The project is funded by the Erasmus+ programme of the EU.
A research presentation done by Tereza Schusterova inspired by the Bee COINs project
I have made a small research about money management. I asked students at Prague’s universities how they manage their money. Even though I asked just several students I would say that most Czech students are still dependent on their parents, because they give them money for basic life need such as living, school and everyday life.
More Czech students rather pay by credit card, but there are still individuals who prefer cash.
As for the spending money, it is hard to say, that Czech students spend money on one exact thing, in my opinion it is influenced by their interests.
Saving money is another question I asked and I personally think that If people want to save some money, they find a way how to do it, because we can see in the research that 50 % of people save some extra money and 50 % do not save any.
- What is your monthly income? (Do you get money from your parents, …)
- What do you prefer? Credit card or cash.
- For what do you spend most of your money?
- Do you save any extra money?
And the results:
František 20 years
- May was the last month I got money for living from my parents. Since June I do have a job, so I want to cover most of my extra incomes.
- I do rather pay by credit card.
- I spend most of my money for paying the living.
- Now I save money mainly for my living.
Kristýna 23 years
- I have a part time job, but my parents still pay me flat in Prague.
- It depends what I want to pay. If I pay just some small amount of money I pay in cash, but I think I use credit card more.
- I spend most of my money for food and drinks.
- I always try to save some little amount of money every month.
Eva 19 years
- My parents give me an exact amount of money every month, but I would like to find some part-time job in the future.
- I use both equally.
- Hard to say, but I think I spend the money for the food and drinks mainly.
- I do not save any extra money.
Michal 24 years
- I cover all my expenses by myself.
- I prefer credit card.
- I think I spend most of my money for living.
- I do not save any money at the moment, but I want to in the future.
Jana 19 years
- My parents pay my living and stuffs for school.
- I rather pay with cash, because I have got bigger awareness about the money.
- I spend for food.
- I save some extra money every month.
Jitka 23 years
- I have a part time job, so I try to pay most of my expenses from my incomes, but my parents still give me money for the rented accommodation.
- If I have cash a pay in cash, if not I use credit card.
- I spend most of the money for clothes and the stuffs I need every day.
- Not at all.
Nicole 21 years
- I have found a part time job, so I think that I will earn more money by myself and I will get less money from my parents.
- I rather pay by credit card. It is more comfortable for me.
- I spend most of my money on travelling.
- I try to save some money from my every income.
Klára 19 years
- I study an university for the first years and I don’t have any job yet, so my parents pay me an accommodation in a hall of residence and they also give me money for a basic daily uses.
- I prefer paying in cash, because I have a larger awareness about my money.
- I spend the money on clothes.
- It’s quite hard for me to save some money if I don’t have any job, so I don’t save any money unfortunately.
Tomáš 20 years
- I get money from my parents.
- I pay only in cash.
- I spend most of the money for the beer.
- I don’t save any money.
Martin 21 years
- I’m trying to be independent so I pay a lot of things by myself. If I want to invest in something more expensive I ask my parents if they donate me some money for that.
- It depends on what I pay. If I pay just a small amount of money I pay in cash. But I pay by credit card very often too.
- I think I spend most of my money on clothes, food and gym.
- I save a small amount of money every month if I can.