Presentation Charts March 2013 Objectives To evaluate - - PowerPoint PPT Presentation

Credit Action Student Panel Research: Final Reporting Presentation Charts March 2013

Objectives

• To evaluate understanding of financial support and money management prior to receiving

the Money Manual and again after its receipt

• To collect attitudinal data about how young people approach financial independence
• To compare responses from those who go to university and those who do not, in terms of

profile, attitudes and behaviour

• To measure the levels of readership, attention paid and perceived usefulness of the Money

Manual

• To compare the profile, attitudes and behaviour of those who read the Money Manual and

those who do not

• To consider whether knowledge of financial support and money management has

increased since reading the Money Manual

• To understand the impact of the Money Manual on young people and their financial

decisions

Methodology and Sample (1)

• An initial panel of 1,500 respondents was recruited. The sample requirements were that

members must be

 aged between 17 and 20 studying for A levels/Highers or other qualifications or taking a gap year from

education

planning to apply or considering applying to university to start in

September/October 2012

• All 1,500 respondents completed the Wave One questionnaire.
• All respondents were invited to take part in the Wave Two questionnaire. 587 responses

were obtained. At this stage some panel members had changed their intentions regarding applying to university.

• The response rate at Wave Two was lower than hoped, and therefore an additional 300

new members were recruited. All new recruits were intending to start university in September/October 2012.

• 887 respondents (including new recruits and those no longer intending to go to

university) from Wave Two were invited to take part in Wave Three. 451 responses were

• btained.

Methodology and Sample (2)

• Recruitment was conducted using an online research panel.
• When recruiting the initial panel members, quotas were set based on UCAS statistics to

ensure the sample was representative of university applicants.

• The data has been weighted by gender, type of course (arts vs. sciences) and type of

school attended by respondents to bring this into line with the original targets for the panel (based on UCAS statistics). Weights were also applied to correct the bias towards those starting university in 2012 introduced by the recruitment of new members at Wave Two.

Timing

The timings for each survey were as follows:

• Wave One – Panel Recruitment and Baseline Survey: November and December 2011
• Wave Two – Panel Member Survey: September 2012
• Wave Two – Recruitment of New Members: October 2012
• Wave Three – Final Survey: January 2013

Intentions Regarding Attending University

Wave One: Intentions for University (Nov/Dec 2011) Total Sample

80% 20%

0% 20% 40% 60% 80% 100% I am planning to apply to university to start in September/October 2012 I am considering applying to university to start in September/October 2012

• NB. Recruits were screened to ensure they were intending to apply or considering applying for university

to start in September/October 2012.

Wave Two: Intentions for University (Sept/Oct 2012) Total Sample

62% 6% 19% 13%

0% 20% 40% 60% 80% 100%

Currently attending university or have a confirmed place at university this year (Sept/Oct 2012) Intending to attend university this year but don’t currently have a confirmed place Have applied/am considering applying to university to start in another year No longer planning to go to university

Wave Two: Attendance at University By Intentions at Wave One (December 2011) Base: Original Panel Members only

58 65 31 11 10 14 19 16 29 13 9 27

20 40 60 80 100 Total

• Planning to

apply to uni (Dec 11) Considering applying (Dec 11) %

No longer planning to go Applied / considering for another year Intending to start / no confirmed place Currently attending / confirmed place

Wave Three: Whether currently attending university (Jan 2013) Base: Those who were intending to start university in Sept/Oct 2012

94% 6%

0% 20% 40% 60% 80% 100%

Yes No

Wave Three: Whether currently attending university (Jan 2013) Total Sample

64% 36% 0% 20% 40% 60% 80% 100% Yes No

Wave Two: Reasons for not applying to university in 2012 Base: Those who intend to apply to university to start in another year. Leading Mentions

16% 2% 34% 26% 3% 24% 3% 1%

0% 5% 10% 15% 20% 25% 30% 35% 40%

Wave Two: Reasons for not applying for university. Base: Those who are no longer planning to go to

• university. Leading Mentions

13% 2% 14% 37% 16% 4% 37% 2% 3%

0% 5% 10% 15% 20% 25% 30% 35% 40%

Wave Three: Reasons for no longer attending university. Base: Those who were intending to go to university at the time of the second survey but are now no longer attending university. Leading Mentions

28% 20% 19% 19%

0% 5% 10% 15% 20% 25% 30%

I wasn’t enjoying the experience I had to leave due to health reasons I had to leave due to financial reasons I had to leave due to academic reasons/I was struggling with my course

• NB. The results for this question are based on a small sample size (24 unweighted, 18 weighted) and so should be

treated with caution

Profile of Panel Members

Wave Three: Profile: Gender

45% 55% 42% 58% 49% 51%

0% 10% 20% 30% 40% 50% 60% 70% Male Female Total Currently attending university Not currently attending university

• NB. Data has been weighted by gender to bring it into line with defined targets.

Wave Three: Profile: Ethnicity

88% 2% 7% 2% 1% 83% 3% 9% 2% 2% 96% 1% 2% 1% 1%

0% 20% 40% 60% 80% 100% White background Mixed background Asian background Black background Other background Total Currently attending university Not currently attending university

Wave Three: Profile: Type of educational establishment (detailed)

61% 22% 16% 0% 60% 24% 15% 0% 64% 17% 19% 0%

0% 10% 20% 30% 40% 50% 60% 70%

School Sixth Form Sixth Form College Community College/Further Education Other

Total Currently attending university Not currently attending university

• NB. Data has been weighted by type of school to bring it into line with defined targets.

Wave Three: Profile: Household financial situation

24% 65% 8% 1% 1% 25% 64% 8% 1% 2% 24% 65% 9% 2% 0%

0% 10% 20% 30% 40% 50% 60% 70%

We are well enough

• ff to be able to

afford the luxuries

• f life as well as the

essentials We have enough for the essentials, but there is little left

• ver for luxuries

We hardly have enough for the essentials We need to borrow money even for the essentials Not sure

Total Currently attending university Not currently attending university

• NB. Panel member responses are based on their household situation at the time of the baseline survey. Recruits

from Sept/Oct 2012 were asked to think of their household before starting university (i.e. Their family household).

Awareness and Usage of Financial Advice Publications

Wave Two: Awareness of student finance publications (in any format, either before or after seeing front cover) Total Sample

29% 31% 45% 31% 42%

0% 20% 40% 60% 80% 100%

Aware of "Money Manual for Students" Aware of "You can afford to go to uni" Aware of "A guide to financial support" Aware of "The Essential Student Guide to Finance" Not aware of any

• f the above

Wave Two: Awareness of “Money Manual for Students” Total Sample

15% 16% 71%

0% 20% 40% 60% 80% 100% Aware of email/online format Aware of paper/hard copy format Not aware

Wave Two: Awareness of “A guide to financial support for new full-time students in higher education” Total Sample

25% 21% 55%

0% 20% 40% 60% 80% 100% Aware of email/online format Aware of paper/hard copy format Not aware

Wave Two: Usage of Each Publication: “Money Manual for Students.” Base: Those who recall having seen each publication.

15% 31% 39% 7% 4% 4%

0% 20% 40% 60% 80% 100%

I have read all

• r most of it

thoroughly I have read certain sections in detail I have read it briefly or skimmed through I haven’t looked at it but I intend to I haven’t looked at it and don’t intend to Not sure

Wave Two: Usage of Each Publication:“You can afford to Go to Uni” Base: Those who recall having seen each publication.

12% 29% 42% 10% 4% 3%

0% 20% 40% 60% 80% 100%

I have read all

• r most of it

thoroughly I have read certain sections in detail I have read it briefly or skimmed through I haven’t looked at it but I intend to I haven’t looked at it and don’t intend to Not sure

Wave Two: Usage of Each Publication: “A guide to

financial support” Base: Those who recall having seen each publication.

8% 28% 34% 15% 9% 7%

0% 20% 40% 60% 80% 100%

I have read all

• r most of it

thoroughly I have read certain sections in detail I have read it briefly or skimmed through I haven’t looked at it but I intend to I haven’t looked at it and don’t intend to Not sure

Wave Two: Usage of Each Publication: “The Essential Student Guide to Finance 2012.” Base: Those who recall having seen each publication.

10% 33% 32% 14% 5% 7%

0% 20% 40% 60% 80% 100%

I have read all

• r most of it

thoroughly I have read certain sections in detail I have read it briefly or skimmed through I haven’t looked at it but I intend to I haven’t looked at it and don’t intend to Not sure

Wave Two: Readership of “Money Manual for Students” By Socio-Economic Group Base: Original Panel Members only

5 7 7 4 3 11 9 13 12 12 9 12 6 11 14 18 9 5 6 6 7 5 2 67 72 63 63 62 80 20 40 60 80 100

Total

• Professional,

senior manager Middle management Junior management Skilled manual Unskilled manual, unemployed

%

Not seen Seen but not read Read briefly Read sections in detail Read all or most thoroughly

Wave Two: Readership of “A guide to financial support for new full-time students” By Socio-Economic Group Base: Original Panel Members only

5 5 4 8 5 14 15 18 12 12 15 16 15 14 22 12 20 12 10 16 9 12 5 53 54 48 49 58 60 20 40 60 80 100

Total

• Professional,

senior manager Middle management Junior management Skilled manual Unskilled manual, unemployed

%

Not seen Seen but not read Read briefly Read sections in detail Read all or most thoroughly

Wave Two: Readership of “Money Manual for Students” By Concern about Ability to cope with Money and Finances while at University (Wave One). Base: Original Panel Members only

5 7 3 6 7 11 9 13 11 9 12 12 14 9 10 5 12 4 4 4 67 60 65 71 70 20 40 60 80 100 Total

• Very

concerned Quite concerned Not very concerned Not at all concerned % Not seen Seen but not read Read briefly Read sections in detail Read all or most thoroughly

Wave Two: Readership of “A guide to financial support for new full-time students” By Concern about Ability to cope with Money and Finances while at University (Wave One) Base: Original Panel Members only

5 8 3 6 6 14 10 18 12 10 16 12 16 15 21 12 10 14 12 9 53 60 49 54 55 20 40 60 80 100 Total

• Very

concerned Quite concerned Not very concerned Not at all concerned

%

Not seen Seen but not read Read briefly Read sections in detail Read all or most thoroughly

Wave Two: Readership of “Money Manual for Students” By Ethnicity Base: Original Panel Members only

5 5 7 11 11 10 12 12 15 5 5 5 67 67 63 20 40 60 80 100 Total

• White

Mixed / non white Not seen Seen but not read Read briefly Read sections in detail Read all or most thoroughly

Wave Two: Readership of “A guide to financial support for new full-time students” By Ethnicity Base: Original Panel Members only

5 5 3 14 13 24 16 15 19 12 13 10 53 54 44 20 40 60 80 100 Total

• White

Mixed / non white Not seen Seen but not read Read briefly Read sections in detail Read all or most thoroughly

Wave Two: Overlap of Readership: “Money Manual for Students” by “You Can Afford to Go to Uni”

57% 10% 0% 6%

13% 49% 10% 7% 4% 8% 22% 4% 25% 33% 68% 83% 0% 20% 40% 60% 80% 100%

Read "Money Manual" thoroughly/certain sections in detail Read "Money Manual" briefly Aware of "Money Manual" but haven't read Not aware of "Money Manual"

Not aware of "Y

• u

Can Afford to Go to Uni" Aware of "Y

• u Can

Afford to Go to Uni" but haven't read Read "Y

• u Can

Afford to Go to Uni" briefly Read "Y

• u Can

Afford to Go to Uni" thoroughly/cetain sections in detail

Wave Two: Overlap of Readership: “Money Manual for Students” by “A Guide to Financial Support”

64% 12% 5% 8%

10% 48% 4% 12% 9% 15% 59% 11% 18% 25% 32% 69% 0% 20% 40% 60% 80% 100%

Read "Money Manual" thoroughly/certain sections in detail Read "Money Manual" briefly Aware of "Money Manual" but haven't read Not aware of "Money Manual"

Not aware of "A Guide to Financial Support" Aware of "A Guide to Financial Support" but haven't read Read "A Guide to Financial Support" briefly Read "A Guide to Financial Support" thoroughly/cetain sections in detail

Wave Three: Usage of financial advice publications since starting university/since taking part in the last survey

4% 6% 10% 8% 76% 5% 5% 10% 9% 78% 3% 8% 10% 8% 74%

0% 20% 40% 60% 80% 100% Used "Money Manual for Students" Used "You Can Afford to Go to Uni" Used "A Guide to Financial Support" Used "The Essential Student Guide to Finance" Have not used any of the above Total Currently attending university Not currently attending university

Wave Two and Wave Three: Perceived Usefulness of Each

• Publication. Mean Score (4=Very useful, 1=Not at all useful)

Base: Those who are aware of/have used each publication.

3.01 2.99 2.88 3.01 3.22 3.19 3.14 3.17

1 2 3 4

Money Manual You Can Afford to Go to Uni A Guide to Financial Support The Essential Student Guide to Finance

Wave Two responses Wave Three responses

• NB. Sample sizes for Wave Three are fairly small and so should be treated with caution

Wave Two and Wave Three: Perceived Usefulness of Each

Publication: “Money Manual for Students” Base: Those who have are aware of/have used each publication.

16% 57% 11% 2% 14% 27% 48% 3% 3% 20%

0% 20% 40% 60% 80% 100%

Very useful Quite useful Not very useful Not at all useful Not sure

Wave Two responses Wave Three responses

• NB. Sample size for Wave Three is fairly small and so should be treated with caution

Wave Two and Wave Three: Perceived Usefulness of Each

Publication: “A Guide to Financial Support” Base: Those who have are aware of/have used each publication.

10% 51% 10% 4% 24% 27% 53% 13% 0% 7%

0% 20% 40% 60% 80% 100%

Very useful Quite useful Not very useful Not at all useful Not sure

Wave Two responses Wave Three responses

• NB. Sample size for Wave Three is fairly small and so should be treated with caution

Wave Three: Experiences of University

Wave Three: Satisfaction with Aspects of University Life. Base: Those who are currently attending university. Mean Score (5=Very Satisfied, 1=Very Dissatisfied)

4.42 4.22 3.92 3.97 4.23 4.11 3.3 4.18

1 2 3 4 5

• NB. Only those living in student accommodation were asked to rate their accommodation experience

Wave Three: Satisfaction with Financial Situation at University Base: Those who are currently attending university

15% 34% 25% 18% 8% 0%

0% 10% 20% 30% 40% 50% 60% Very satisfied Quite satisfied Neither satisfied nor dissatisfied Quite dissatisfied Very dissatisfied Not sure

Wave Three: Overall Satisfaction with University Experiences. Base: Those who are currently attending university.

36% 53% 5% 5% 1% 0%

0% 10% 20% 30% 40% 50% 60% Very satisfied Quite satisfied Neither satisfied nor dissatisfied Quite dissatisfied Very dissatisfied Not sure

Wave Three: Agreement with University Related Statements. I have found it difficult to fit in/make friends at university. Base: Those who are currently attending university.

6% 17% 8% 22% 42% 1%

0% 10% 20% 30% 40% 50% 60% Strongly agree Slightly agreeNeither agree nor disagree Slightly disagree Strongly disagree Not sure

Wave Three: Agreement with University Related Statements. I miss my family/friends/home while at university. Base: Those who are currently attending university and who are living in student accommodation.

19% 47% 13% 15% 4% 0%

0% 10% 20% 30% 40% 50% 60% Strongly agree Slightly agreeNeither agree nor disagree Slightly disagree Strongly disagree Not sure

Wave Three: Agreement with University Related Statements. Being at university has helped me to become more independent. Base: Those who are currently attending university

40% 43% 13% 2% 1% 0%

0% 10% 20% 30% 40% 50% 60% Strongly agree Slightly agreeNeither agree nor disagree Slightly disagree Strongly disagree Not sure

Wave Three: Agreement with University Related Statements. I enjoy living away from home. Base: Those who are currently attending university and who are living in student accommodation.

30% 45% 19% 4% 2% 0%

0% 10% 20% 30% 40% 50% 60% Strongly agree Slightly agreeNeither agree nor disagree Slightly disagree Strongly disagree Not sure

Wave Three: Agreement with University Related Statements. The reservations I had about going to university have been borne out. Base: Those who are currently attending university and who had reservations about going to university.

13% 32% 28% 17% 7% 3%

0% 10% 20% 30% 40% 50% 60% Strongly agree Slightly agree Neither agree nor disagree Slightly disagree Strongly disagree Not sure

Wave Three: Agreement with University Related Statements. I have found some aspects of university life to be less enjoyable than I had expected. Base: Those who are currently attending university.

10% 38% 28% 17% 6% 1%

0% 10% 20% 30% 40% 50% 60% Strongly agree Slightly agreeNeither agree nor disagree Slightly disagree Strongly disagree Not sure

Wave Three: Positive or Enjoyable Aspects of University

• Experience. Leading Mentions

Base: Those who are currently attending university.

35% 22% 15% 15% 8% 3% 3%

0% 10% 20% 30% 40%

Meeting people/making friends My course/the work Social life Becoming independent Nothing Freedom Getting to study a subject I like

Wave Three: Negative or Non-enjoyable Aspects of University

• Experience. Leading Mentions

Base: Those who are currently attending university.

26% 18% 8% 6% 6% 4% 4%

0% 5% 10% 15% 20% 25% 30%

Wave Three: Experience of Difficulty of Course Compared to Expectations. Base: Those who are currently attending university.

8% 36% 47% 7% 2% 1%

0% 10% 20% 30% 40% 50%

Wave Three: Financial Situation

Wave Three: Means of funding university course and lifestyle. Base: Those who are currently attending university.

80% 56% 13% 31% 28% 1% 5% 25%

0% 20% 40% 60% 80% 100%

Wave Three: Whether sources of income have been sufficient since starting university/since taking part in the last survey.

73% 27% 74% 26%

0% 20% 40% 60% 80% 100%

Yes No

Currently attending university Not currently attending university

Wave Three: Whether budget/set spending limit

77% 23% 78% 22%

0% 20% 40% 60% 80% 100%

Yes No

Currently attending university Not currently attending university

Wave Three: Attention paid to finances on daily basis

45% 49% 5% 1% 51% 44% 5% 0%

0% 20% 40% 60% 80% 100% I pay close attention to my finances I pay some attention to my finances I pay little attention to my finances I pay no attention to my finances Currently attending university Not currently attending university

Wave Three: Who takes most financial responsibility while at university/at the moment

75% 9% 16% 0% 77% 11% 12% 0%

0% 20% 40% 60% 80% 100% Myself My parents/guardians Myself and my parents/guardians equally Someone else Currently attending university Not currently attending university

Comparison of Personality Scales and Attitudinal Statements Over Time

Response to personality scales Mean Score (1=Confident, 7 =Insecure) Base: Original panel members who completed all three waves

3.61 3.85 3.59 3.62 3.81 3.65 3.61 3.89 3.51

1 2 3 4 5 6 7 Wave 1 Wave 2 Wave 3 Total Currently attending university Not currently attending university Confident Insecure

Response to personality scales Mean Score (1=Impulsive, 7 =Cautious) Base: Original panel members who completed all three waves

4.22 4.40 4.45 4.31 4.53 4.35 4.12 4.24 4.57

1 2 3 4 5 6 7 Wave 1 Wave 2 Wave 3 Total Currently attending university Not currently attending university Impulsive Cautious

Response to personality scales Mean Score (1=Free spending, 7 =Careful with money) Base: Original panel members who completed all three waves

4.57 4.55 4.90 4.56 4.57 4.79 4.57 4.53 5.04

1 2 3 4 5 6 7 Wave 1 Wave 2 Wave 3 Total Currently attending university Not currently attending university Free spending Careful with money

Agreement with Attitudinal Statement: I am too young to start thinking about saving money regularly Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves

2.45 2.44 2.31 2.33 2.40 2.28 2.58 2.49 2.33 1 2 3 4 5 Wave 1 Wave 2 Wave 3 Total Currently attending university Not currently attending university

Agreement with Attitudinal Statement: I feel I am capable of making most decisions for myself Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves

3.78 3.78 3.91 3.82 3.93 3.99 3.73 3.60 3.82 1 2 3 4 5 Wave 1 Wave 2 Wave 3 Total Currently attending university Not currently attending university

Agreement with Attitudinal Statement: Being in debt is just part of university life – it doesn’t worry me Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves

2.69 2.57 2.60 2.78 2.69 2.69 2.59 2.44 2.48 1 2 3 4 5 Wave 1 Wave 2 Wave 3 Total Currently attending university Not currently attending university

Agreement with Attitudinal Statement: I don’t think it is important for me to manage my financial situation at the moment Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves

2.29 2.12 2.05 2.23 2.01 2.02 2.35 2.26 2.10 1 2 3 4 5 Wave 1 Wave 2 Wave 3 Total Currently attending university Not currently attending university

Agreement with Attitudinal Statement: I often buy things on impulse Mean Score (5=Agree strongly, 1= Disagree Strongly) Base: Original panel members who completed all three waves

3.04 2.89 2.64 3.04 2.92 2.71 3.03 2.85 2.56 1 2 3 4 5 Wave 1 Wave 2 Wave 3 Total Currently attending university Not currently attending university

Who was/is expected to take most responsibility for financial situation at university. Base: Original panel members who completed all three waves and who are currently at university

39% 70% 71% 18% 15% 10% 42% 15% 19% 1% 0% 0% 0% 20% 40% 60% 80% 100%

Wave 1 Wave 2 Wave 3

Someone else Myself and parents/guardians equally My parents/guardians Myself

Concern about managing finances at university Base: Original panel members who completed all three waves and who are currently at university

11% 12% 54% 49% 22% 31% 13% 6% 1% 1% 0% 20% 40% 60%

Wave 1 Wave 2

Very concerned Quite concerned Not very concerned Not at all concerned Don't know

How well managed finances at university Base: Original panel members who completed all three waves and who are currently at university

1% 7% 66% 25% 2% 0% 20% 40% 60% 80%

Wave 3

Not at all well Not very well Quite well Very well Not sure

Comparison of Matched Panels

Matched Panel Sample Sizes

44 36 90 32 22 43 14 12 34 13 12 33 30 60 90 120 150 Read MM thoroughly / sections in detail Read MM briefly Not seen MM Read MM thoroughly / sections in detail Read MM briefly Not seen MM Non Students Students

For Wave 3 results only For comparisons Wave 1, Wave 2 and Wave 3

Wave One: Response to personality scales Mean Score (1=Agree with first descriptor, 7 =Agree with second descriptor) Base: Members of defined matched panels

3.36 4.27 2.80 4.73 3.79 4.21 3.68 4.56 3.64 4.34 3.13 4.58

1 2 3 4 5 6 7 Confident - Insecure Impulsive - Cautious Organised - Disorganised Free spending - careful with money Read MM thoroughly/read sections in detail matched panel Read MM briefly matched panel Not aware of MM matched panel

Wave One: Response to attitudinal statements Mean Score (5=Agree strongly, 1=Disagree strongly) Base: Members of defined matched panels

2.11 3.96 3.20 2.80 2.84 3.65 3.41 3.00 2.43 3.86 3.22 2.68

1 2 3 4 5 I am too young to start thinking about saving money regularly I feel I am capable of making most decisions for myself I'm concerned about the prospect of leaving home Being in debt is just part of university life

• it doesn't worry me

Read MM thoroughly/read sections in detail matched panel Read MM briefly matched panel Not aware of MM matched panel

Wave Two: A Level Score Base: Members of defined matched panels

15.16 14.88 15.24

4 8 12 16 20 Read MM thoroughly/read sections in detail matched panel Read MM briefly matched panel Not aware of MM matched panel

Wave Three: Attending University Base: Members of defined matched panels

71% 65% 57%

0% 20% 40% 60% 80% 100% Read MM thoroughly/read sections in detail matched panel Read MM briefly matched panel Not aware of MM matched panel

Wave Three: Hobbies/Extra Curricular Activities Base: Members of defined matched panels who are currently attending university

46% 14% 47% 0% 69% 13% 0% 20% 40% 60% 80% 100%

Shopping Voluntary work

Read MM thoroughly/read sections in detail matched panel Read MM briefly matched panel Not aware of MM matched panel

Wave Three: Attention paid to finances Base: Members of defined matched panels who are currently attending university

61% 47% 37% 34% 39% 57% 5% 11% 6% 0% 3% 1%

0% 20% 40% 60% 80% 100% Read MM thoroughly/read sections in detail matched panel Read MM briefly matched panel Not aware of MM matched panel Pay no attention to finances Pay little attention to finances Pay some attention to finances Pay close attention to finances

Wave Three: Whether learnt anything from managing money at university. Leading Mentions Base: Members of defined matched panels who are currently attending university

43% 23% 5% 7% 47% 19% 6% 8% 60% 12% 7% 2% 0% 20% 40% 60% 80% 100%

Nothing Budgeting/managing money Consider whether something is really needed before buying Try to build up savings before university

Read MM thoroughly or sections in detail Read MM briefly Not aware of MM

Comparison over time: Personality scales. Mean Score (1=Impulsive, 7 =Cautious) Base: Members of defined matched panels who are currently attending university

4.27 4.27 4.44 4.21 4.50 4.50 4.34 4.47 4.41 1 2 3 4 5 6 7

Wave 1 Wave 2 Wave 3

Read MM thoroughly or sections in detail Read MM briefly Not aware of MM Cautious Impulsive

Comparison over time: Attitudinal Statement ‘I often buy things

• n impulse’. Mean Score (5=Strongly agree, 1=Strongly

disagree) Base: Members of defined matched panels who are currently attending university

2.93 2.78 2.33 3.18 2.79 2.71 2.93 2.97 2.75 1 2 3 4 5

Wave 1 Wave 2 Wave 3

Read MM thoroughly or sections in detail Read MM briefly Not aware of MM

Wave Three: Satisfaction with financial situation since taking part in the last survey. Mean Score (5=Very satisfied, 1=Very dissatisfied). Base: Members of defined matched panels who are not currently attending university

3.50 3.58 3.09 1 2 3 4 5

Read MM thoroughly or sections in detail Read MM briefly Not aware of MM

Read MM thoroughly or sections in detail Read MM briefly Not aware of MM

Wave Three: Whether budget or set spending limit. Base: Members of defined matched panels who are not currently attending university

93% 75% 74% 7% 25% 27% 0% 20% 40% 60% 80% 100% Read MM thoroughly or sections in detail Read MM briefly Not aware of MM No Yes

Summary and Conclusions (1)

• Only around two thirds of those planning in December 2011 to attend University actually

took up a place the following Autumn. Finance was often a reason for not proceeding with their intention.

• Students have for the most part enjoyed their first few months at University, but they do

have some reservations about the experience. In particular, around one quarter of students have concerns about their income sources.

• University life does seem to be increasing the maturity and independence of many

students.

• Students are increasingly likely to take responsibility for their own financial affairs in their

early months at University.

• Only a minority remember having seen the Money Manual. Awareness of the Manual is at

a similar level to most of the other financial publications for students, but is well below that

• f “A guide to financial support...”.
• The financial publications are all seen as very or quite useful by most of those who have

read them. Despite this, only a small minority remember having used one of the publications since starting at University.

Summary and Conclusions (2)

• There is a considerable overlap in readership of the various publications. It could be

questioned, therefore, whether all are needed.

• There is weak evidence that, in combination, Money Manual and the other financial

publications have increased the financial responsibility of those who have read them thoroughly.