SURVEY ON MONTHLY EXPENDITURE OF CFAB4 STUDENTS DURING COVID 19

MINISTRY OF EDUCATION AND TRAINING NATIONAL ECONOMICS UNIVERSITY -o0o - PROJECT SURVEY ON MONTHLY EXPENDITURE OF CFAB4 STUDENTS DURING COVID 19 Ha Noi - Nov/2021 Class: Accounting CFAB4 Subject: Statistic in Business Teacher: M Le Hoang Minh Nguyet Participants: 1/ Quach Diep Chau Anh - 11200360 2/ Hoang Phuong Anh - 11204300 3/ Nguyen Thi Thao Chi - 11200616 4/ Lai Phuong Thao - 11203641 5/ Nguyen Thuy Phuong - 11203205 TABLE OF CONTENTS CHAPTER 1: INTRODUCTION 1.1 Background of the research topic……………………………………………7 1.2 Objectives of the topic……………………………………………………….7 1.3 Research problem statement…………………………………………………7 1.4 Scope and participants of the research………………………………………8 CHAPTER 2: RESEARCH MODEL OF FACTORS AFFECTING MONTHLY EXPENSE OF STUDENTS OF CFAB4 ACCOUNTING CLASS IN COVID 19 2.1 Building a research model………………………………………………… 2.1.1 Dependent variable…………………………………………………… 2.1.2 Independent variable……………………………………………………8 2.2 Description of variables…………………………………………………… CHAPTER 3: RESEARCH METHODS 3.1 Scales and scale encrypting……………………………………………… 10 3.2 Questionnaire………………………………………………………………11 3.3 Data collection methods……………………………………………………12 3.4 Analyze data using descriptive statistics………………………………… 12 CHAPTER 4: ANALYSIS AND RESEARCH RESULTs 4.1 Descriptive statistics……………………………………………………….12 4.1.1 Number of samples……………………………………………………12 4.1.2 Sample statistics by each factor……………………………………… 12 CHAPTER 5: CONCLUSION 4.1 Result of the study………………………………………………………….25 4.2 Limitations of the study…………………………………………………….25 APPENDIX: QUESTIONNAIRE USED IN THE SURVEY………………….26 TABLE LIST Table 4.1 Sample statistics by gender…………………………………………….12 Table 4.2 Sample statistics according to monthly spending before Covid (before 1/6/2021) ………………………………………………………………………….13 Table 4.3 Sample statistics according to monthly spending during Covid (1/6/2021 - 30/9/2021) ……………………………………………………………………….13 Table 4.4 Statistics at the level of spending every purpose before the Covid plague (before 1/6/2021) ………………………………………………………………….15 Table 4.5 Sample statistics according to the spending level of each purpose during the Covid epidemic (1/6/2021 - 30/9/2021) ……………………………………….15 Table 4.6 Sample statistics by monthly income before Covid (before 1/6/2021) …17 Table 4.7 Sample statistics by monthly income during Covid (1/6/2021 - 30/9/2021) .………………………………………………………………………17 Table 4.8 Statistics on habits of monitoring, controlling and planning savings of CFAB4 students before the Covid epidemic (1/6/2021) ………………………….20 Table 4.9 Statistics of the following, controlling and planning the CFAB4's savings plan from 1/6/2021 to 30/9/2021………………………………………………… 21 Table 4.10 Statistics savings before the Covid epidemic (before 1/6/2021) ………23 Table 4.11 Statistics according to the amount of money saved during the Covid epidemic (1/6/2021 - 30/9/2021) ………………………………………………….24 CHART LIST Chart 4.1: Pie charts of average monthly spending of CFAB students before the epidemic…………………………………………………………………… 14 Chart 4.2: Pie charts of average monthly spending of CFAB students during the epidemic…………………………………………………………………… 14 Chart 4.3: Pie chart of average monthly income of CFAB students before pandemic………………………………………………………………………….18 Chart 4.4 Pie chart of average monthly income of CFAB students during pandemic………………………………………………………………………….18 Chart 4.5 The income source before the epidemic (before June 1, 2021) … 18 Chart 4.6 The income source during the pandemic (1/6/2021-30/9/2021) ….19 CHAPTER – INTRODUCTION 1.1 Background of the research topic In recent years, Vietnam's economic situation has changed a lot In particular, the Covid-19 pandemic with complicated and even out of control development has severely affected all global economies The scenario of weakening macroeconomics, unstable employment and falling incomes forces consumers to re-evaluate their values and priorities as well as embrace new consumption habits For students in particular, in addition to income from investments, part-time jobs , most of the income comes from the family's support, so more or less their spending will also be affected Therefore, research on the impacts of the COVID-19 pandemic on the spending of people in general and students in particular has become the concern of many research institutes and universities Within the framework of the subject "Statistics in economics and business", the research team carried out the research project "Monthly expenditure survey of CFAB students during this epidemic" Thereby sketching an overview of the financial situation as well as spending and savings of the CFAB accounting class under the impact of the epidemic 1.2 Objectives of the topic - Build an analytical research model on the change in income & expenditure of CFAB students in the period of COVID 19 - Identify the main spending purposes, from which to propose some ideas to promote reasonable spending and savings of CFAB4 students 1.3 Research problem statement From the objectives above, the topic focuses on researching and answering the following questions: Question 1: What is the student's income range? With that income, how will students spend, for what services? How have student income and expenditure changed due to the epidemic? Question 2: How students evaluate their savings plan and how much they usually save per month? How has the pandemic affected students' savings plans? → Through the survey, the research team wants to have a clear view about the status of students' income, spending, and savings before and after the epidemic 1.4 Scope and participants of the research Scope of research: The research lasted from October 21, 2021 to November 11, 2021 in the accounting CFAB class - National Economics University CHAPTER – RESEARCH MODEL OF FACTORS AFFECTING MONTHLY EXPENSE OF STUDENTS OF CFAB4 ACCOUNTING CLASS IN COVID 19 2.1 Building a research model Based on the survey, the authors have selected the factors representing the dependent variable and the independent variable with the appropriate research model 2.1.1: Dependent variable The dependent variable used in the model is the amount of money that CFAB4 accounting class students spend monthly during COVID 19 All factors affecting either increase or decrease the student's monthly expenditure 2.1.2: Independent variable The group of factors affecting spending is selected including: Cost of living, travel expenses, rent, entertainment, study costs Based on the variables listed above, the research model built for this project is as follows: 2.2 Description of variables Variable Types Factors Description, measured by Vietnam currency unit (VND) Dependent variable Expenditure The amount of money spent monthly Independent variable Cost of living Amount spent on food, beverage and essentials Independent variable Travel expenses The amount of money for the use of transport, such as fare, gasoline, etc Independent variable Rent The amount of money spent on renting and expenses related to rent includes water, wifi, etc Independent variable Entertainment The amount of money for entertainment activities including shopping, movie tickets Independent variable Study cost The amount of money spent on activities related to learning includes tuition fees, books, photocopies CHAPTER 3: RESEARCH METHODS 3.1 Scales and scale encrypting The research group encoded the variables in the scale as follows: Purpose NC1 Cost of living NC2 Rent NC3 Travel expenses NC4 Study cost NC5 Entertainment Variable NC1 -> NC5 Value Encrypted method 0 Below 500.000 500.000 – 2.000.000 2.000.000 – 5.000.000 Above 5.000.000 10 c/ At the level of spending for purposes Table 4.4 Statistics at the level of spending every purpose before the Covid plague (before 1/6/2021) Purposes < 500.000 500.000 –2.000.000 –> 5.000.000 Total 2.000.000 5.000.000 Cost of living 15 29 50 Travel expenses 45 0 50 Rent 16 21 50 Entertainment 17 31 50 Study cost 25 12 50 Total 30 109 94 14 250 From the sample statistics table, most of the spending for each use purpose is less than 500,000 VND Spending over 5,000,000 VND is for learning purposes only Shopping, travel expenses, rent, entertainment are only at a consumption level of less than 5,000,000 VND Table 4.5 Sample statistics according to the spending level of each purpose during the Covid epidemic (1/6/2021 - 30/9/2021) Purposes < 500.000 500.000 2.000.000 –2.000.000 5.000.000 –> 5.000.000 Total Cost of living 17 24 0 50 Travel expenses 37 13 0 50 Rent 35 50 15 Entertainment 28 16 50 Study cost 14 26 2 50 Total 108 99 35 250 From the sample statistics table, most of the spending for each use purpose is less than 500,000 VND Spending over 5,000,000 VND is for study and entertainment purposes only The spending level 2,000,000 - 5,000,000 can be used for the purpose of renting and studying The problem of clothes, travels only at the consumption level of less than 2,000,000 VND Through two sample tables according to the level of spending of CFAB4 students before the epidemic Covid (before June 1, 2021) and during the Covid epidemic (June 1, 2021-September 30, 2021) found that the majority of spending for each use of less than 500,000 did not change significantly Meanwhile, spending for each use in the range of 2,000,000-5,000,000 decreased during the Covid epidemic, only for rent and study issues compared to before the epidemic is used for learning, renting and clothing, travel, entertainment and spending levels of 2,000,000 - 5,000,000 decreased by 18% The movement from spending levels of 500,000 - 5,000,000 to spending levels of less than 500,000 due to the fall in income during pandemic Spending levels of increases because most students come home with family and no longer have to pay for some expenses Spending for travel expenses, cost of living and rent sharply declines because students come back to their hometown and don’t have to pay rent in Hanoi; parents pay for their cost of living and social distances reduce their cost of travel Spending for study and entertainment moderately decreases because students still have to study online and have enough money to spend for entertainment when their parents spend for other expenses d/ Income per month: Surveying the monthly income of students from family support, part-time jobs, scholarships and investment returns, we get the frequency and relative frequency distribution tables 16 Table 4.6 Sample statistics by monthly income before Covid (before 1/6/2021) Income (VNĐ) Frequency Relative frequency Percentage frequency (%) < 1.000.000 13 0,26 26 1.000.000 3.000.000 - 22 0,44 44 3.000.000 5.000.000 - 13 0,26 26 0,40 > 5.000.000 N is the total number of subjects surveyed (50 students) Frequency is the number of times the subject was surveyed with ranges Through the statistics, we can see that the majority of students have income in the range of 1,000,000-3,000,000 with the rate of 44%, the income levels from 0-1,000,000 and 3,000,000-5,000,000 are equal and equal to 26 % Meanwhile, the revenue above 5,000,000 has a much lower rate, namely 4% Table 4.7 Sample statistics by monthly income during Covid (1/6/2021 - 30/9/2021) Income (VNĐ) Frequency Relative frequency Percentage frequency (%) < 1.000.000 31 0,62 62 1.000.000 3.000.000 - 17 0,34 34 3.000.000 5.000.000 - 0 0,40 > 5.000.000 N is the total number of subjects surveyed (50 students) Frequency is the number of times the subject was surveyed with ranges Through the statistics, we can see 17 that the majority of students have a revenue of less than 1,000,000 with the rate of 62%, the rate of 1,000,000-3,000,000 accounted for 34% Meanwhile, the revenue over 5,000,000 has a much lower rate of 4%, and the rate of 3,000,000 - 5,000,000 accounts for the lowest rate with 0% Pie chart of average monthly income of CFAB students Chart 4.3: Before pandemic Chart 4.4: During pandemic Through two charts and two sample statistics tables according to the monthly income of CFAB4 students before and during the epidemic, we can see that the average revenue for months of students decreased dramatically during the Covid epidemic Compared to before the epidemic, during the epidemic, the revenue level of about 0-1,000,000 has a strong increase from 26 % up to 62% Meanwhile, the larger revenues tended to decrease, specifically, the ratio of revenues of 1,000,000 3,000,000 decreased by 10% and the ratio of revenues from 3,000,000 to 5,000,000 decreased by 26% The cause of this change is due to delays and change business during the epidemic, many services that the students provide need to be stopped by the local authorities e/ Sources of monthly income: Chart 4.5: The income source before the epidemic (before June 1, 2021) 18 Chart 4.6: The income source during the pandemic (1/6/2021-30/9/2021) From the chart above, it can be seen that the monthly income of students accounts for the majority from the family support amount 92%, income from part-time jobs accounts for 28% Meanwhile, other sources of income account for a much lower percentage, income from savings accounts for 2%, income from investment profits accounts for 6%, other sources of income 4%, and no source of income comes from the scholarship Through graphs showing the income sources of CFAB4 students before the epidemic (before June 1, 2021) and during the epidemic (June 1, 2021 – September 30, 2021), we see that the majority of income still comes from family support In which, compared to before the epidemic, the income during the next epidemic from investment profits 19 and part-time jobs decreased slightly by 4% and appeared more income sources from savings and other sources of income This is because the group observed are students, their main source of income must come from family whether it’s before or during the pandemic The second main income source - income from part-time jobs - slightly declines because social distance prevents students from going out to work Students can only work from home if allowed Income from savings accounts and investment profits declines due to withdrawal to spend The rise of income sources from savings and other sources of income due to the demand to save more during pandemic and to find other abnormal sources of income (e.g., borrowings) to make a living f/ Habit of tracking, controlling and planning savings Table 4.8 Statistics on habits of monitoring, controlling and planning savings of CFAB4 students before the Covid epidemic (1/6/2021) Habit of tracking, controlling Frequency Relative and planning savings frequency Percentage frequenc (%) Yes 36 0,72 72 No 14 0,28 28 Total 50 100 N is the total number of subjects surveyed (50 students) Frequency is number of appearances of answer whether yes or no 20 The graph shows the habits of CBAB4 students to monitor, control and plan their savings before Covid (1/6/2021) Through the statistics table and graph showing the habits of monitoring, controlling and planning savings before the epidemic (June 1, 2021), we foresee that the majority of students have the habit of following the epidemic familiar with monitoring, controlling and planning savings, the majority accounts for 72% while the rest accounted for 28% Table 4.9 Statistics of the following, controlling and planning the CFAB4's savings plan from 1/6/2021 to 30/9/2021 Habit of tracking, controlling Frequency Relative and planning savings frequency Percentage frequenc (%) Yes 36 0,72 72 No 14 0,28 28 Total 50 100 N is the total number of subjects surveyed (50 students) Frequency is the number of times the subject answered yes or no 21 The graph shows the habits of CBAB4 students to monitor, control and plan their savings during the Covid epidemic (1/6/2021-30/9/2021) Through the statistical table and the chart showing the habits of monitoring, controlling and planning savings expenditures of CBAB4 students during the epidemic (June 1, 2021 - September 30, 2021), we see the ratio of students have the habit of monitoring, controlling and planning their savings and the percentage of students who not have the habit of monitoring, controlling and planning their savings is not too big Through two statistical tables and charts showing the habits of monitoring, controlling and planning savings of CFAB4 students before the Covid epidemic (June 1, 2021) during the Covid epidemic (June 1, 2021) September 30, 2021, we see that the percentage of students who have the habit of monitoring, controlling and planning their savings during the epidemic tends to decrease, specifically 20% compared to before the epidemic In addition, the proportion of students who not have this habit tends to increase during lockdown, specifically, an increase of 20% compared to before the epidemic This is because students come back to their hometown and their parents pay for most of their expenses (spending levels of sharply increases) Students don’t have to pay from their savings so they don’t have to monitor or control them 22 g/ Average savings per month: Table 4.10 Statistics savings before the Covid epidemic (before 1/6/2021) Below 500.000 500.000-1.000.000 Over 1.000.000 Total Savings 28 11 41 No savings 0 Total 37 11 50 N is the total number of subjects surveyed (50 students) Frequency is the number of times the students was surveyed with different savings From the sample statistics table and graph, most of the students are doing savings (82%) and save money in the range of - 500,000 VND There are 11 students who save between 500,000 - 1,000,000 Only students save above 1,000,000 23 Table 4.11 Statistics according to the amount of money saved during the Covid epidemic (1/6/2021 - 30/9/2021) Below 500.000 500.000-1.000.000 Over 1.000.000 Total Savings 27 38 No savings 12 0 12 Total 29 50 N is the total number of subjects surveyed (50 students) Frequency is the number of times the subject was surveyed with different savings From the table and graph, the majority of students made savings (76%) and save money in the range of - 500,000 VND There are students who save between 500,000 - 1,000,000 Only students save above 1,000,000 24 Through two charts and two sample statistics tables according to the savings of CFAB4 students before the Covid epidemic (before June 1, 2021) and during the Covid epidemic (June 1, 2021 - September 30, 2021), we see that Covid The number of students doing savings during the epidemic compared to before the epidemic decreased from 82% to 76% The reason can be the decline in income during the pandemic CHAPTER – CONCLUSION 5.1 Results of the study The results show that all factors in the research model have an influence on the monthly expenditure of students in the CFAB4 accounting class In general, due to the impact of the epidemic, the total income and total expenditure of students all tended to decrease slightly In which, the cost of housing is the type of cost that has the most decrease, the cost of education is the cost that is least affected Due to the decrease in income, students also have to reduce their savings, which might lead to changes in the plan they initially planned before 5.2 Limitations of the study The study was only carried out to get the results of student spending surveys through social networking applications, so the results are not accurate, the reliability is not high Research is quite limited in terms of time and tools Due to lack of experience in research, the group's report still has many shortcomings 25 APPENDIX: QUESTIONNAIRE USED IN THE SURVEY Part 1: Question 1: What is your gender? A Male B Female Part 2: Spending level before the pandemic (before 1/6/2021) Question 1: Before 1/6/2021, your average income (from family allowance, parttime jobs ) is around: A < 1.000.000 B 1.000.000 – 3.000.000 C 3.000.000 – 5.000.000 D > 5.000.000 Question 2: Before 1/6/2021, your income came from: A Family allowance B Part-time jobs C Scholarship D Bank interest / investment return E Other Question 3: Before 1/6/2021, average spending per month: A < 1.000.000 B 1.000.000 – 3.000.000 C 3.000.000 – 5.000.000 D > 5.000.000 Question 4: How much did you spend each month before the pandemic (before 1/6/2021)? (Including all the expenses) < 500.000 500.000 – 2.000.000 – > 2.000.000 5.000.000 5.000.000 26 Cost of living Travel expenses Rent Entertainment Study cost (* Cost of living includes food, beverage and essentials Travel expenses: fare, gasoline, etc Rent and rent expense such as electricity bills, Wi-Fi Entertainment: shopping, movie tickets Study cost like extra-classes tuition, photocopies, books ) Question 5: Before 1/6/2021, Do you have a habit of tracking, controlling and planning your savings? A Yes B No Question 6: Before 1/6/2021, How much you save on average per month? A I don't have the habit of saving B < 500.000 C 500.000 – 1.000.000 D > 1.000.000 Part 3: Spending level during the pandemic (from 1/6/2021 to 30/9/2021) Question 1: From 1/6/2021 to 30/9/2021, your average income (from family allowance, part-time jobs, ) is around: A < 1.000.000 B 1.000.000 – 3.000.000 C 3.000.000 – 5.000.000 D > 5.000.000 Question 2: From 1/6/2021 to 30/9/2021, your income came from: 27 A Family allowance B Part-time jobs C Scholarship D Bank interest / investment return E Other Question 3: From 1/6/2021 to 30/9/2021, average spending per month: A < 1.000.000 B 1.000.000 – 3.000.000 C 3.000.000 – 5.000.000 D > 5.000.000 Question 4: How much did you spend each month during the pandemic (from 1/6/2021 to 30/9/2021)? (Including all the expenses) < 500.000 500.000 2.000.000 – 2.000.000 5.000.000 – > 5.000.000 Cost of living Travel expenses Rent Entertainment Study cost (* Cost of living includes food, beverage and essentials Travel expenses: fare, gasoline, etc Rent and rent expense such as electricity bills, Wi-Fi Entertainment: shopping, movie tickets Study cost like extra-classes tuition, photocopies, books ) 28 Question 5: From 1/6/2021 to 30/9/2021, you have a habit of tracking, controlling and planning your savings? A Yes B No Question 6: From 1/6/2021 to 30/9/2021, how much you save on average per month? A I don't have the habit of saving B < 500.000 C 500.000 – 1.000.000 D > 1.000.000 - END - 29 ... the model is the amount of money that CFAB4 accounting class students spend monthly during COVID 19 All factors affecting either increase or decrease the student's monthly expenditure 2.1.2: Independent... questionnaire is designed in three parts Part 1: Classification of survey participants Part 2: Survey of incomes, expenditures, habits and savings plans of survey respondents before the COVID- 19. .. epidemic 19 Part 3: Survey of incomes, expenditures, habits and savings plans of survey respondents during the COVID 19 pandemic 11 3.3 Data collection methods After completing the design of the