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UNIVERSITY STUDENT FINANCIAL MANAGEMENT USING STUDENT

BUDGETING SYSTEM

Conference Paper · December 2020

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International Multidisciplinary Postgraduate Virtual Conference 2020 (IMPC20)
9 & 10 December 2020
@Center for Graduate Studies, UNISEL

UNIVERSITY STUDENT FINANCIAL MANAGEMENT

USING STUDENT BUDGETING SYSTEM

Wan Syahidatul Akmal binti Wan Saupi1, Nor Hayatulfitri binti Afzali2,Irny Suzila Ishak3
1,2,3
Fakulti Komunikasi, Seni Visual dan Pengkomputeran, Universiti Selangor
E-mail : syahidaakmal123@gmail.com

Abstract – Budgeting help student to organize their spending and saving. However, previous research
report that university students have difficulties juggling with the cost and expenses at university. The
objective of this project is to develop a student budgeting system that enabled university students to
manage their money more efficiently. For this purpose, the research has used Universiti Selangor
student as a case study. A survey had been conducted with UNISEL student to get their perceptions
about the development of the budget system and to get the requirement of the student budgeting system.
Ninety-five respondents had responded to the survey. The survey had identified functions that should
be included in the system. The system had been develop using Rational Unified Process (RUP)
methodology. The system provides information about the student achievement in reaching their target
to spend within budget. The student budgeting system is expected to help the student to plan their fund,
budget effectively and view their target saving achievement.

Keywords: Budgeting, financial management, university student, saving, budgeting achievement

1. INTRODUCTION
Going to the university is an opportunity for individuals to prepare holistically for a successful
future. However, university students always faced lack of money problem. University students must not
only learn how to learn academically, but also need to equip themselves with financial management
knowledge. Nowadays, many university students get caught with the trend of living beyond what they
can afford. Even though student got their money from scholarship, loans, parents or saving, student who
did not plan how to manage their money will become penniless by the end of the semester. Student also
do not have time to make a calculation and estimation of how much they need to spend so that they will
financially survive until the end of the semester. Females student were found to be more likely than
males to create a monthly budget (t = -2.25, p = .025. Males student were significantly more likely than
females to go out to eat (t = 3.83, p = .000) [1]. Budgeting system can help university students to plan
their budget more wisely. This project aims to develop a web-based system which can help student
manage their money more efficiently, control the amount of money for any fees and student’s living
cost and spend less than they got.

2. METHODOLOGY
The project uses Rational Unified Process (RUP) as the methodology for system development (refer
Figure 1). During the Inception Phase, comparison have been made between several budgeting systems
which is Budget Calculator(UCAS), RBC Student Budget Calculator, UniBudget and Spending Tracker
to identify main functions that should be included in the system. For data collection phase, a survey has
been distributed to UNISEL student to gain perceptions and the requirements of the systems using
Google Form. During the data analysis phase, the survey data has been analysed descriptively by
identifying the perception on the system, the frequency percentage of the required functions to be
included in the system and the system requirements. After all the system requirements had been
identified, the Elaboration Phase has been conducted. In this phase, system architecture, use case model
and system interface had been designed. During the Construction Phase, the system has been develop
using PhP and MySQL. During the Transition Phase, the system has been presented to user and the
system testing has been conducted. Then, documentation and report of the system has been prepared.
International Multidisciplinary Postgraduate Virtual Conference 2020 (IMPC20)
9 & 10 December 2020
@Center for Graduate Studies, UNISEL

3. RESULTS AND DISCUSSION

Based on the user requirements analysed from the survey, the functionality of the student budgeting
system had been identified. Functional requirements agreed by respondents are as following: register
user (91.7%), user login (93.6%), update budget (95.7%), calculate budget (96.8%), provide feedback
(96.8%) and provide notification if expenses above budget. The user of the system can be divided into
two categories namely, admin of the system and the student that will use this system. The use case
diagram in Figure 2 had been designed based on the system functionality. The most important
functionality of the system is the system will calculate the total expenditure and compare to budget to
identify whether the student achieve his or her budget target for saving. The user need to record their
income (loan/scholarship or other income), their expenses and their target saving of the month. The
system will calculate balance money the student has each month and this system will help to remind
student to make sure their money balance is not lower than target saving amount. Figure 3 shows some
of the interface of the budget system that will show the achievement of student saving for each month.

Register

Login

Create expenditure
category

Admin
Create achievement
calculation

Record Date User

Record Income

Record Income

Record
expenditure

View total
expenditure

View budget saving

achievement

Figure 2: Use Case Diagram

 International Multidisciplinary Postgraduate Virtual Conference 2020 (IMPC20)
9 & 10 December 2020
@Center for Graduate Studies, UNISEL

Figure 3: Student Budgeting System Interface

Once the system is fully developed, the student budgeting system were tested by user to get
their acceptance. Upon successful identification of features for testing, the testing was conducted among
the UNISEL students. The UAT session revealed the result as shown in Table 1.

Table 1: UAT Results

ID Test Cases Pass/Fail Date Tested
1.1 Register the system Pass 1/7/2019
1.2 Login the system Pass 1/7/2019
1.3 Record the data and target saving Pass 1/7/2019
1.3 Record expenditure Pass 1/7/2019
1.4 View target saving achievement report Pass 1/7/2019

4. CONCLUSION
Based on the User Acceptance Testing (UAT) conducted, it shows that the student budget system is
usable and accept by the user. The data collection, data analysis and development method used in this
projects can be a guideline to develop web based budgeting systems. The findings of this study support
the idea that budgeting system can help university student to plan and budget more effectively.
Moreover, the application also help student to monitor their target saving achievement. The system is
very helpful and might help student to manage their money more effectively. Despite of the fact that
there are limitations due to developer skills, yet the research process and development process help in
developing the system successfully.

REFERENCES
[1] Stollak,M., Vanderberg,A., Steiner, K. & Richard,J.,(2016) Student Budgeting and Spending
Behaviours: A Comparative Study. Journal of Behavioral Studies in Business. 3, 1-5.

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