A Study On Financial Management Practices Among College Students In Coimbatore City

Financial management plays a crucial role in shaping the economic stability and future security of individuals, especially college students who are at a transitional stage of financial independence.The present study titled "A Study on Financial Management Practices among College Students in Coimbatore City" aims to examine the financial behaviour, awareness, and management practices of college students in Coimbatore.The study focuses on understanding students' income sources, spending patterns, saving habits, budgeting practices, and usage of financial tools such as UPI, credit cards, bank accounts, and digital payment platforms.It also analyses the challenges faced by students in managing their finances, including peer pressure, lack of financial literacy, rising living expenses, and easy access to digital credit facilities.The primary objective of the study is to examine the key challenges encountered by students in managing their finances.These challenges may include limited income sources, rising educational and living expenses, peer pressure, impulsive spending, lack of budgeting habits, and inadequate financial knowledge.The study also seeks to understand the spending and saving habits of college students by analysing how they allocate their income towards necessities, entertainment, digital purchases, savings, and other expenses.Another important objective is to assess the level of financial awareness among students, including their understanding of basic financial concepts such as budgeting, banking services, digital payment systems, credit usage, loans, and investment options.The research further aims to suggest practical measures to improve financial management practices, such as promoting financial literacy programs, encouraging systematic budgeting, fostering saving discipline, and creating awareness about responsible use of credit and digital financial tools.The study is based on primary data collected through a structured questionnaire administered to college students in Coimbatore City.The findings are expected to reveal gaps between financial awareness and actual financial practices, highlighting the need for structured financial education.The study concludes by recommending strategies to strengthen students' financial decision-making skills and enhance their long-term financial well-being.