Investigating the Importance of Creating a Personal Budget among Millenials, their Perception and Satisfaction: A Case Study of Eastern Mediterranean University

Many youths find it hard to manage their finances in an efficient way. When they build a monthly budget or financial plan or spending plan, and they try to reduce their expenditures, they will abruptly notice how they’re short of funds to take care of other main things. The state of our finances definitely has a direct influence and impact in making our lives more perplex; as a matter of fact most of our problems in life can somehow be related to, or can be gotten rid of by a proper handling of finances. This study sought to examine the perception and satisfaction the Eastern Mediterranean University (EMU) millenials have towards budgeting and inquired for ascertaining as to whether or not there is a need for better financial services advisory. According to the literature, millenials need to know how to create a written plan on how they intend to spend their money each month because their income is rare. A survey of 161 participants was used and the data was analyzed using a quantitative approach. Results showed EMU Millenials see the importance of building a budget and there is a need for better financial services.