The Ageing Population in Mauritius

The Ageing Population in Mauritius Discussions Impact of aging population in Mauritius The first objective of this study aims to provide a thorough understanding of the actual impacts of aging population in Mauritius. Since old people retire from their jobs, the incomes they generate are reduced and thus they have to rely on pensions or insurances. Consequently, the aging population is very often faced with income security and poverty. Among the 80 questionnaires that were distributed, there were 18.5% of the respondents were above 65 years. This was a very significant number and was the second larger percentage after the age group of 20-35 years. Moreover, the Mauritius Statistics forecasts that 20% of the Mauritian population will be above 65 years by 2025. One of the main impacts of an aging population is that it increases the dependency ratio. There are relatively more people claiming pension benefits and less people working to pay taxes. With the ever-growing aging population in Mauritius, it is probable that this will cause problems in the future. Though 14.8% of the respondents still live with their grand-parents and 12.3% of them still help their grand-parents financially, the dependency on the pension benefits do not seem to decrease. Another impact is the increased Government spending on health care and pensions. In UK, the old age pension is currently  £113.10 per pensioners per week (Population Ageing Statistics, Rutherford) as compared to Mauritius, where the pension fund is Rs5, 000 per pensioners per month. Since the percentage of old age is said to increase to up to 25% by 2025, the Government spending will increase even more. Presently, the budget for old age health problems amounts to approximately Rs9.7 billion per year and with a promising and significant growth in the number of old people in the future, Mauritius is likely to face serious budget issues. As such, as demonstrated in table 4.5 in the previous chapter, 56.8% people have that working people should pay a token for the elders’ medical services. This gesture can remove a huge burden from the Government expenditure since people are not prepared to remove old age pension funds even if an alternative, such as building homes for the elder ly with all their required needs, is given to the old people as shown by the majority of people who voted ‘No’ to the suggestion. Moreover, an aging population directs to a shortage of workers in a country. Since the old people retire and live on pension, and there are lesser number of new-borns to eventually work to pay taxes, the country faces a lack of workers. Mauritius is not far behind from a shortage of workers. In this effect, 48.1% of the respondents thought that encouraging Mauritians to reproduce will solve the problem whereas 50.6% of them thought it would be better to hire immigrants to work here. Furthermore, since Mauritius will be putting a higher percentage of income into pension funds in the future, due to the increasing amount of old people, it could reduce the amount of savings available for more productive investments. Thus, leading to lower rates of economic growth. Impact of security budget on aging population The second objective emphasizes on the impact of security budget on aging population. With greater number of old people, comes greater expenses in terms of security. As of now, the Government is spending approximately Rs27.1 billion on social security solely in the year 2015 and as per our research conducted by the questionnaire, 38.3% people feel concern about this amount of expenditure only on social security. 76.5% of the respondents agreed that the well-off should be cut off from pension facilities. This is a considerable idea because the Government is spending way too much money on old people and getting nothing-in terms of finance-in return. Though many people (approximately 75.3% of the respondents) thought that the newly elected Government was right to increase old age pension from Rs3, 600 to R5, 000 in December 2014, a significant percentage (61.7) agreed that it was merely a political technique to gain votes. This increase in the pension fund has resulted in an increase of over 50% in the Government expenditure as compared in 2014. Over 186, 000 people benefit from the universal pension. The National Monetary Fund (IMF) has already sounded the alarm about the aging population of Mauritius that could jeopardize the national pension fund. The financial institution recommends an urgent review of the payment of this social benefit formula. As concluded by a Working Paper of the IMF entitled Pension Reforms in Mauritius; Fair and Fast Balancing Social Protection and Fiscal Sustainability, Mauritius’ old age pension situation is considered unsustainable in the long term. While now it amounts to 5% of the Gross Domestic Product (GDP), funding for different pension schemes should reach 11% in 45 years. The aging population is putting strong pressure on public finances. The number of people over 60 years will be 50% in 2050, whereas they represented 13% of the population in 2013. The result of expenditures on pension benefits, especially the non-contributory pension scheme will be exacerbated (Takoor, Petri, and Martin). If major reforms are not undertaken, the pension funds could cause a shortfall and could eventually be liability for the state especially when 79.0% of the respondents said they are not ready to further sustain the social security financially, besides their contributions in VAT and NPF. Problems faced because of gender in an aging population According to a study made by the UN organisation, women make up a significantly larger share of the older population. This is because women tend to live longer than men and thus rendering them more dependent on health care facilities and pensions schemes provided by their country. In 2014, Mundi calculated the ratio of females to males above 65 years old to be 66, 643: 45, 145 of the total population. The elderly dependency ratio was calculated to be 12.8%. Also, the UN found that older women experience some of the lowest literacy rates in the world. Average levels of illiteracy for women aged 65 or over are as high as 78% in Africa and 53% in Asia, compared to 58% and 29% respectively for men in these regions. This seriously impacts on the lives of the older women, preventing them from accessing health services, securing incomes, and moving out of poverty. Moreover, the fact that women’s life expectancy is greater than men’s means that health problems that increase with age, such as disability, affect a greater number of women worldwide. It is anticipated that the overall prevalence and severity of disability among older women will continue to increase, in line with the growing aging population and the higher proportion of women in the old age groups. For example, older women are more likely to suffer from blindness than older men, especially in low-income countries where 44% of cases are caused by cataracts. The greater the number of older women, the greater is the dependency on health care services. Furthermore, despite increased awareness of abuse, discrimination, and violence against women, concerns over the situation of older women have largely been ignored. Data on violence against women over the age of 60 is severely limited and research focusing on abuse of older women tends to be confined to developed countries and based on small sample sizes. Impact of sustainability on the level of protection of the old age The challenge for the future is â€Å"to ensure that people everywhere can grow old with security and dignity and that they can continue to participate in social life as citizens with full rights†. At the same time â€Å"the rights of old people should not be incompatible with those of other groups, and reciprocal intergenerational relations should be encouraged.†(United Nations, World Population Ageing 1950-2050, Population Division) Social protection of the old age approach has addressed the multiple interlinked global challenges of poverty eradication, environmental sustainability, and economic equity, and gender equality, equitable distribution of resources, human rights, and inequality. In Mauritius, though about 50% of old people do not take public transport, the latter is still free for people above 60 years old. However, about 21.0% find that this system should be abolished. Basic income security for people in old age is considered as necessary to avoid poverty among the old age. However, approximately 49.4% of Mauritians find that Rs5, 000 is a risk factor to the life of the elders. This amount of money is considered to be too much and can put the life of the elders at stake. Conclusion This chapter has discussed the various objectives of the research work together with the data that was obtained and calculated in the previous chapter, data analysis. As shown, some data obtained were in line with the objectives of this study. The next chapter will talk about the proposed recommendations. Recommendations and Conclusion Introduction In this chapter we will propose a list of recommendations of how the impacts of aging population can be minimised. We will also recommend ways in which the security budget can be controlled, how gender equality and equity can be ensured, and how to ensure a sustainability in the aging population of Mauritius. Housing for seniors: Elder friendly housing Specific measures can be taken to facilitate the development of retirement housing by the private sector, in particular, varying the length of land leases to lower land costs, to facilitate elders’ needs in terms of housing. Also, through a review of the Code on Barrier-Free Accessibility, the Government can consider introducing guidelines for the provision of accessibility and safety features in the homes for the elder people so that they have a more elder-friendly environment to live in. in this way, the elders will more likely have a healthy lifestyle and thus lessening the health expenditure for the Government. Stretching the workforce and working hours The participation rates of women and elderly people in the workforce should be increased to ensure more contribution is being brought economically to Mauritius. According to the Organisation of Economic Co-operation and Development (OECD), 49% of the people aged between 60 to 64 years old in USA are still gainfully employed. There are many ways in which a higher participation of the ‘young’ seniors (aged between 60 and 65) can be achieved. Among them, the most important are to correct the inducement of early retirement, reduce the period of entitlement to unemployment benefits, and eliminate high severance payment, extensive job dismissal protection as well as seniority principles. Also, by implementing new child-minding arrangements and more creative working time models and speeding up organisational reforms, the participation of women within the workforce can be increased. Additionally, the annual working and/or average weekly times can also be increased such that fewer workers have to work for more hours in order to compensate for a negative demographic effect on potential growth. Thus, a higher share of women will be put in the workforce and a greater number of part-time jobs will be switched to full-time positions. It will also require an increase in collectively agreed weekly working times. Migration Immigration can help to slow down the process of aging and shrinking of the population and mitigate its negative economic consequences. The younger, more flexible and better qualified the population, the more favourable the outcome will be. Mauritius should promote migration and set suitable migration policies where the policies do not only stop at identifying suitable immigrants but also help them integrate well into the society. It is also very important for Mauritius to promote harmonious race relations-which is not very difficult, considering the fact that we are ourselves a multi-racial nation. Better use of existing resources and adoption of new technologies. We can help people to stay active, healthy and autonomous by building age-friendly cities and â€Å"smart homes† that deploy a range of monitoring and supportive devices to help older people manage life more effectively. We can re-engineer health systems to focus on disease prevention and early screening, rather than on expensive intervention. With these measures, we will contribute to creating better quality lives for older people: lives that are also inclusive and sustainable. Preventing falls strategies Given the magnitude of this public health problem, policymakers should elevate falls prevention as a priority and support policies and programs that aim to reduce risk factors among older adult populations. This may be accomplished in multiple ways. For instance, increased funding may be provided to Area Agencies on aging for broader implementation of community-based falls prevention programs. Certain falls prevention strategies, such as home safety assessments, could also be integrated into existing senior outreach services and programs, such as Meals on Wheels. Enhance opportunities for physical activities among older adults It is recommended that policymakers enhance the opportunities for physical activity among the elders. Especially, they should implement policies and targeted strategies that support active living for seniors. This involves identifying and addressing the barriers that currently prevent seniors from participating in physical activities, ramping up education and outreach efforts, and promoting community-based programs that incorporate strength, endurance, balance, flexibility training programs. Some communities for elders offer other social benefits, such as peer interaction and support. This should be put into practice by all the communities for the elderly. Additionally, policymakers should support a broad continuum of programs, ranging from low to high intensity levels, available to people of all abilities, cultures, and ethnic backgrounds. 6.7 Additional benefits for additional years worked Some countries offer financial incentives to workers who keep on working even though they have reached their retirement age. Normally, the incentives are calculated on the basis of contribution period, for example, an additional day, month, quarter, or year worked after the retirement age. They can come be in the form of a single bonus payment or a percentage increase in the final pension. If Mauritius were to adopt this system, it will ensure more people working and thus more people paying the taxes. Encourage employers to retain and recruit older workers The Government should encourage employers to retain and recruit older workers. One way in which this can be achieved is for the Government to directly contribute to the consts of employing older workers (Gineste, 2012). Reducing unemployment benefits for older people Reducing unemployment benefits and lowering pensions could be an incentive to work longer. If the elders have lower pensions and reduced unemployment benefits, they will be more keen to work for longer periods of time so that they achieve a more satisfying and comfortable lifestyle for the time when they are not able to work at all. 6.10 Conclusion This research work has tried to highlight the impacts of the aging population and appraise what is being done the Ministry of Social Security, National Solidarity, and Reform Institutions to bring about a sustainable development in the aging population of Mauritius. With the decrease in fertility and mortality rates, life expectancy at birth has increased drastically. And despite this rapid aging population, it can be said that the Government, along with the concerned institutions, are striving to keep the population an economically productive and healthy one. To conclude we have also tried to formulate some suggestions which can be implemented in order to ensure that the aging population process stays in control and that Mauritius does not suffer or at least suffers the minimum impact of such a population.

An Ideal Hero: Greek vs. Roman

EvansHUM 2210 REVIEW SHEET EXAM 1 LISTS 1. Features that identify a society as â€Å"civilized†a. Agriculture (irrigation) and breeding of animals = surplus food (goats, peig, cattle, sheep). Wheat, barley, rice, and maize. (Sci&Tech- polish stone tools. Ex: stone sickles)b. Cities: large apartment settlements= standard architecture & surplus manpowerc. Writing (â€Å"gifts of the gods†)= records. Pictograph, ideogram, cuneiform.d. Institutions for centralized & inherited power . – Priesthood for centralized sacred ritual – Kingship for centralized political and social structure (Paraoh= kings in Egypt) .2. Geographical areas of early civilizations (Attached) 3. Ages of early Greek mythology to Ovid ( Poet of Metamorphoses)a. Origin of humans: sacred clay (wise and rulers) blood of titans (murderous and criminals), and stones(endurance)b. 4 ages as decline: Golden (peace), Silver (seasons &farming), Bronze (war), Iron (mining, deforestation, crime).4. Dominant and alternate cultural themes in the Iliad Audience: upper-class men Purpose: cultural propaganda.Greek Heros= models of courage & skill to men (what to be) & women (what to look for- sense of security). a. Dominant Theme: warrior code of personal honor and glory b. Contrasting themes: Family principle, simple country life vs. war, admiration of enemies. 5. Literary works by Homer Blind poet Homer – represents the culmination of a long and vigorous tradition in which oral recitation—possibly to instrumental accompaniment—was a popular kind of entertainment. Iliad, Odyssey.6. Major column types in Greek architecture (know the parts) a. Doric: Plan projects streng th, power. Useful for king or state intimidate?Temple to powerful gods. b. Ionic: elegant, sophisticated. Useful for gods and people of wisdom. Libraries. c. Corinthian: more sophisticated. Projects wealth and power that comes with it. Useful to imperial Rome to intimidate and amaze. Makes the emperor or state look all powerful, even if they aren’t! [pic]7. Major parts of architectural buildings on the Acropolis of Athens (City on the hills. Ex: Propyleia & Parthenon) a. Propylaia: Monumental entrance as the gate/threshold into the sacred hill. b. Athena Nike: shrine to Athena as goddess of victory. Guardian of the hill. c. Parthenon (the Virgin) East Pediment (front): birth of Athena. Born from the head of Zeus= intuition. Feminine principle of wisdom, sacred bird is the one. – West Pediment (back): Competition between Athena & Poseidon for Athens. Ancestors chose Athen’s gift for the olive tree= they preferred to war. Athenians all sheer this wisdom and desire for peace. – The metopes (framed carvings on each side): the victories over the Amazons, centaurs, giants, and Trojans/Persians = justice prevails over brute force, aggression.8. Major philosophers of the Greek Classical and Hellenistic periods Greek Classical: a. Moral: Socrates Dialectic Method= critical approach. Question & answer search for â€Å"Truth† – â€Å"Knowledge is virtue† & â€Å"to know the good is to do the good. † – â€Å"The unexamined life is not worth living† – â€Å"Produced skeptics (only believe what is absolutely certain) & agnostics (don’t believe what is not known for certain). b. Social: Plato – Student of Socrates; Founded Academy in Athens, 387 B. C. – Theory of Forms: where is â€Å"Truth†: uncanning, state Level 4: Knowledge= certainties Level 3: Thinking= math geometry abstracts Lower Levels: Opinions Level 2: Beliefs (â€Å"Material world is true gone. ) Level 1: I maginings (â€Å"Images [art] = reality) – Allegory of the Cave. Truth is painful. c. Logic: Aristotle – Student of Plato, founded school in Athens, 335 B. C. – Organized natural sciences into biology, zoology, botany – Theory of Universals: Inductive Science: Universals discovered from particulars, therefore studying the material world can (only) produce universals/ absolutes. Plato’s dualism devalued study of material world. – Deductive/Formal Logic for ethics and science Hellenistic: a. Epicuranism – Founder: Epicurus (341-271 B. C. ) Atomist: all matter made up of atoms so all forms are random; no controls – No afterlife: death= end; no judgment – Absolute free will: each creates own destiny; absolute individuality – Goal of life: Pleasure (hedone> hedonism) *individual pleasure -> society would crush Pleasure: absence of pain. Pain < unsatisfied desires. Minimal desires > Peace & pleasure; harmony = agreemen t between desires and fulfillment. Life of Moderation (Ex: credit card vs. cash budget). b. Stoicism *Resistance cause pain, learn to live the Stoic life. – Founder: Zeno (334-262 B. C. ) Social Logos (=Heraclitus): All natural and society controlled by reason. The destiny of one is the FOR THE GOOD OF THE WHOLE. Happiness < accepting one’s destiny. – Suffering < resisting predestined life – Stoic Goal: Evenness, dispassionate= no joy in success, no sorrow in failure. – Brotherhood of Man: Logos Lives in everything and everyone as fire DEFINITION (know the basic meaning or reference of each term) -Polytheism/monotheism: the belief in many gods/ the belief in only one god. – Post & lintel: the simplest form or architectural construction, consisting of vertical members (posts) and supporting horizontals (lintels). Caste System: a rigid social stratification in India based on differences in wealth, rank, or occupation. – Muse/muses: musi c – Ziggurat: a terraced tower of rubble and brick that served ancient Mesopotamians as a temple-shrine. – Pharaoh: title of Egyptian king. – Dialectic: question-and- answer style (Socrates) – Animism: the belief that the forces of nature are inhibited by spirits. – Homeopathic: power infused based on likeness or imitation. *exaggerates sometime. – Hellenistic: followed by the Classical era; the blending of Greek, African, and Asian cultures. – Pantheism: the belief that a divine spirit pervades all things in universe. Contagion: power transferred by contact. – Stoic Logos: Seminal Reason, through which all things came to be, by which all things were ordered, and to which all things returned. – Myth: story form (poetry) vs. philosophy or scientific explanation; typically involving gods and ancestors with supernatural power. Purpose: to order universe and society. – Ethnocentric: the belief in the inherent superior ity of one's own ethnic group or culture. – Epicureanism: Happiness depending on avoiding all forms of physical excess; valued plain living and the perfect union of body and mind.Gods played no part in human life, and death was nothing more than the rearrangement of atoms which the body and all of nature consist. – Covenant: contract; the bod between the Hebrew people and their god. – Yin/Yang: the principle, which ancient Chinese emperors called â€Å"the foundation of the entire universe,† interprets all nature as the dynamic product of two interacting cosmic forces, or modes of energy, commonly configured as twin interpenetrating shapes enclosed within a circle. Yang- male principle: lightness, hardness, brightness, warmth, and the sun. Ying- female principle: darkness, softness, moisture, coolness, the earth. Metope: the square panel between the beam ends under the roof of a structure. – Plato’s Theory of Forms:where is â€Å"Truth†? Above: perfect world of forms: originals, absolute, uncanning state. Below: imperfect world of matter: copies, changing, opinions. – Ideal tragedy: hero’s life changes from fortune to misfortune due to intellectual error. – Pediment: the triangular space forming the gable of a two-pitched roof in Classical architecture; any similar triangular form found over a portico, door, or window. – Epic History: a long narrative poem that recounts the deeds of a legendary or historical hero in his quest for meaning or identity.IDENTIFICATION: Know who or what each refers to -Venus Figurines: sympathetic & contagious magic for fertility of nature and humans. -Stone Henge: sacred space; limitation of celestial world? Sun and moon for their fertility power? -Parthenon: the outstanding architectural achievement of Golden Age Athens -Gate of Ishtar: one of the eight gates of the inner city of Babylon (main entrance), was built during the reign of King Nebuchadnezzar II (604- 562 BC), after he burned Jerusalem. Starting point for Nebuchadnezzar II, after he bought the kingdom of Judah to an end; he wants to beautify the capital. Achilles: Achaean (Greek) hero of the Trojan War, the central character and the greatest warrior of Homer's Iliad. -Plato: Wrote the famous treatise, Republic. Classical Greek philosopher, mathematician, student of Socrates, writer of philosophical dialogues, and founder of the Academy in Athens. -Hammurapi: sixth king of Babylon, known for the set of laws called Hammurabi's Code, one of the first written codes of law in recorded history. -Athena: goddess of wisdom and war. -Sophocles: second of the great tragedians, developed his plots through the actions of the characters.He modified the ceremonial formality of earlier Greek tragedies by individualizing the characters and introducing moments of great psychological intimacy. Antigone -Confucius : Chinese teacher, editor, politician, and philosopher of the Spring and Au tumn Period of Chinese history. The philosophy of Confucius emphasized personal and governmental morality, correctness of social relationships, justice and sincerity. -Zeus: the powerful sky god. -Epicurus: Greek thinker who advocated Epicuranism. -Moses: the leader who led the Hebrews across the Red Sea. -Antigone: A tragic play wrote by Sophocles.Proceed from the last phase of the history of Thebes. The play deals with many issues: duty to family (generation) vs. duty to state/law; female willpower vs. male authority (gender) -Homer: poet who wrote Iliad and Odyssey -Aristotle: Student of Plato, Aristotle's writings were the first to create a comprehensive system of Western philosophy, encompassing morality, aesthetics, logic, science, politics, and metaphysics. -Zeno: Founder of Stoicism. MAP (be able to match the culture with its geography) 2. Nile r. / Jerusalem/Egypt 3. Euphrates r. / Tigris r. Persia /Babylon/ Mesopotamia 4. Olympus /Athens/ Aegean Sea/ Greece [pic]

Essay about Women Behaving Like Men in Antigone,...

Women Behaving Like Men in Antigone, Electra, and Medea Throughout Antigone, Electra, and Medea, many double standards between men and women surface. These become obvious when one selects a hero from these plays, for upon choosing, then one must rationalize his or her choice. The question then arises as to what characteristics make up the hero. How does the character win fame? What exactly is excellent about that character? These questions must be answered in order to choose a hero in these Greek tragedies. In historic Greece, the characteristics of a hero were for the most part left only for men to achieve. Heroes were viewed as those who were kind to friends, vicious to enemies. They were also men who risked†¦show more content†¦Creon’s first law as king, that of refusing burial to Polyneices, was directly contradictory of the unwritten rights of the dead. Antigone, however, realized that the laws of the gods and the piety to her brother eclipsed those laws of Creon, her rationale being that â€Å"it was not Zeus who published this decree, nor have the Powers who rule among the dead imposed such laws as this upon mankind† (Antigone 16). Admirably, and heroically, she was willing to give her life to fulfill her obligations to the gods and her brother. However, Electra’s kleos was achieved differently then that of her Theban counterpart, for she acted in hatred and vengeance, and out of love, to win her fame. To avenge her father, she believed she must kill her mother, but one has to wonder if her only motivation is vengeance. The truth is she had grown to hate her mother, to hate everything about her, although much of this hate was justifiable. After all, not only was Clytemnestra responsible for the death of Agamemnon, but she was also responsible for the exile of Orestes and the slave-like treatment of Electra herself. Through Electra’s participation with Orestes in the murder of Clytemnestra and Aegisthus, she won her fame, or perhaps, notoriety. On the other hand, she was like Antigone in that her excellence lay in her loyalty to family, or at least the family who loved her. Her love for her father and for OrestesShow MoreRelatedEssay on The Lives of Athenian Women1880 Words   |  8 PagesWomen in classical Athens could not have had an extremely enjoyable experience, if we rely on literary sources concerning the roles of women within the Greek polis. The so-called Athenian democracy only benefited a fraction of the entire population. At least half of this population was female, yet women seem to have had very little influence and few official civic rights. `The position of women...is a subject which has provoked much controversy. (Lacey: 1968, 151). Studies concerning the

How APU Student Manage Their Personal Finance Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3390 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Many people think that financial management is a thing of the rich people, undergraduate as a group with no independent source of income that does not need to learn and master personal finance. This is wrong viewpoint; financial management is a lifelong for everyone. In anyones life, it is including a single period, family formation period, family growth period, children education period, family maturity period and retirement period. Don’t waste time! Our writers will create an original "How APU Student Manage Their Personal Finance Finance Essay" essay for you Create order The college is an important stage in the life and it belongs to a single period. The characterized of this stage is low income or no income and high expense. And this stage is the first stage for management of personal finance; if undergraduate does not know how to manage his or her personal finance would incur lots of problems. According to the survey, only a very small number of college students are understanding of financial management concepts, but the vast majority student has lack financial sense and lack of real action on manage their personal finance. It would be incurring some severe hidden dangers in their future life. Personal finance has the most important influence on peoples life, but the majority of people cannot learn personal finance in their school except some finance student. It means the most people would be a financially illiterate that they do not how to manage their personal finance. A survey shows these financially illiterates do not understand personal finance always from their university that they did not learn the relevant knowledge of personal finance. Personal finance is a process of managing of personal asset and capital. It is defined on the basis of data collection of personal income, asset and liabilities then through the analysis of the risk affordability and preferences of individuals to combine with the target to use such as savings, insurance, securities, foreign exchange, collection, housing investment and other means to manage asset and liabilities in order to achieve maximum capital appreciation of the individual Undergraduate as a special consumer groups in the current economic life, in particular, they are playing an important role in the improvement of the consumption structure. Consumption status and financial status of college students can support a reflection of the current life status and value orientation of undergraduate. Therefore, understanding factor that affect on the personal finance of undergraduate and give them suitable financial advice in order help them manage their personal finance. 1.2 Problem statement An analysis had display lots of university student do not have a good learning and knowledge of personal financial fundamentals. (Bakken, 1967; CFAJAMEX, 1991; HSR, 1993; Langrehr, 1979; NAEP, 1979). Otherwise, in a recent report include 1509 students from 63 schools has displayed more students has a poor ability to make decisions when they are leaving school. (Mandell 1997) If the undergraduate does not know how to manage their personal finance it would be incurring those problems: Irrational consumption structure. The daily consumption of college students should have the cost of living and learning costs. However, clothing, cosmetics, digital product consumption becomes the major consumption. Moonlight clan. The moonlight clan is means a man which monthly cost equal monthly income and no saving. Affect on their future finance. Any personal finance skill needs a long time to develop and adjustment. If it lacked on the first stage that it would incur lots of losses on future finance. So, undergraduates must understand without good personal finance to lead to big trouble in the future life, 1.3 Project objective The purpose of this research is to determine the financial situation of undergraduates who was in APU. Then examine those factors that would be affected on APU student personal finance. Identify there is a significant relationship between those factors and personal finance of APU student. Discuss further demographic profile of those factors of APU student and examine whether those towards their personal finance by demographic segment. There have four variables would be discuss such as APU students consumption concepts, consumption pattern, personal finance awareness and personal finance method. . 1.4 Methodology In this research, the researcher would use quantitative research approach to finish research process, in order to better complete research objective so research data must be reliable and accurate. The researcher would to use a random survey to collect research data to ensure there is a reliable and accurate outcome. After that, the target group of this research is APU students. The target group mainly consists of the students who are studying in APU degree course. The researcher would create questionnaires sent to APU student randomly and this inquiry scale would be conducted with 100 respondents. 1.5 Justification Attempting to understand personal finance has Significant influence on the financial situation of undergraduate. This study indicated that consumption concepts, consumption pattern, personal finance awareness and personal finance method are relevant individual difference variable for personal financial of APU undergraduate. Hypothesis a: consumption concepts Hoa: There is a relationship between consumption concepts towards the personal finance of APU students. H1a: There is no relationship between consumption concepts towards the personal finance of UCTI students. Hypothesis b: consumption patterns Hob: There is a relationship between consumption patterns towards the personal finance of APU students. H1b: There is no relationship between consumption patterns towards the personal finance of APU students. Hypothesis c: personal finance awareness Hoc: There is a relationship between personal finance awareness towards the personal finance of APU students. H1c: There is no relationship between personal finance awareness towards the personal finance of APU students. Hypothesis d: personal finance methods Hod: There is a relationship between personal finance methods towards the personal finance of APU students. Hod: There is no relationship between personal finance methods towards the personal finance of APU students. 1.6 Significance The college should be the initial stage of the personal finance and it is also is a golden era for learning personal finance. Then for undergraduates who have no income source should learn and master personal finance and develop a correct financial management habits in their daily life. In this study, researchers need to research some factors that have affected on undergraduates personal finance and to support advice with useful and helpful to undergraduate for current or future development. 1.7 Conclusion At last, base on the above paragraph, this chapter is mainly introduced the definition of personal finance and why people need to manage personal finance. After that, it also explains why undergraduate need to learn to personal finance and what problems would be rise if undergraduate without personal finance awareness and knowledge. Otherwise, this chapter has simple explain research objective and research methodology to the audience. After that, this research will focus on personal finance of APU student. Even though, APU student is not able to represent all the personal finance of undergraduate in the world, but this research would be more specific and the result release can be more valid. 2.0 Literature review 2.1 Introduction According to Zhao (2004), personal finance is referring to how individuals to dispose their own money. The purpose of personal finance is to use a lower cost to achieve the reasonable consumption and maximize avoid of financial risk. After that, the personal fianc also aim to make an optimal interemporal configuration of individuals capital. There is a major theme for the current college student is finance problem. 52 percentages students think cannot find a suitable job and 51 percentages people think they are has poverty in their life and 49 percentages people think that the current economy is not prosperity. The students which depend upon student loan are more than owe over$25,000. (Exploring the College Experience, 2003) 2.2 Consumption concept According to Jiang (2010), Consumption concept refers to the attitude about to the level of consumption, style of consumption and other view. Consumption concept is an important part of economic ethics. In general there are three kinds of consumption concept in the world consist of thrift consumption concept, the luxury consumption concept and moderate consumption concept. These consumption concepts would incur the difference personal finance to the undergraduate. A correct concept of consumption can be more reasonable guide college students to manage their personal finance. Otherwise, poor financial conditions always come from the incorrect concept of consumption 2.3 Consumption pattern According to Jiang (2010), Consumption pattern of current undergraduate always has few characters such as rationalization trends, diversification trends and electronization trends. The difference consumption pattern has an important effect on the personal finance of current undergraduate. Although an overdraft consumption patterns can meet the consumer demand of current university students because the student can use the future money to finish the current goals, but there would be taking a big financial crisis in the future. In some authors analysis of the financial situation of Generation Y, it state most generation Y has a relatively high level ability of disposable income but more research has displayed that the generation Y consumer does not have high financial literacy .(Palmer, Pinto, and Parente, 2001: 105) 2.4 Personal finance awareness According to Jerry Mason (2000) refer most consumers are flunking personal finance (p. 125). He thinks financial problem always is high among the peoples life and it becomes to the primary factor which incurred the personal bankruptcies and people divorce. Lots of old people with a poorer life than others. Otherwise, many college graduates face a huge debt (from student loans, auto loans, and credit card debt) and low income because they do not have a right awareness of personal finance. According to Chen (1998) refer that most college students do not have a good awareness of the personal finance. So low finance awareness would lead to a weakness on resolve their financial problem. According to Chens survey, he provides questionnaire to the respondents and questioned within questionnaire about respondents knowledge of savings, borrowing, insurance and investments, at last, the survey display that there are about 60 percent of the investment questions answered incorrectly. Base on can result refer to individuals cannot manage their finances because they lack awareness of finance; it becomes a problem for society. This challenging issue needs to be addressed According to Chen and Volpe (2002), they take a research on Gender Differences in Personal Financial Literacy among College Students. They used a large sample consist of 924 usable responses which from lots of college and universities in USA. The research majority focus on the difference financial awareness among men and women and the relationship between the financial awareness and education and experience. Base of the analysis they find there are close relationship between participants financial awareness and participants education and experience level. The researcher thinks that the people who are business majors are having more awareness of personal finance that the people who are non-business majors. 2.5 Personal finance method According to Bowen Lago (1997), it refers lots of college students are living on the edge of financial crisis and they always lack enough financial knowledge to manage their money. When the students study in the college, they were starting to accumulate debt by student loan and credit cards. After that, they do not believe these debts would be making an effect on their future life but they would find without personal finance skills that they are hard to manage their personal finance. According to Neal Godfrey, (2002) refer that the children do not learn any financial knowledge in their life and the all of the people live in the largest capitalist nation in the world, but the children never received and financial education within their school life. So as educators and parents why we do not teach them financial skills that how to help their children who are lack of personal finance methods. According to Robert (2001), it refers to each person should learn the methods of personal finance, if people do not learn personal finance methods and do never to try use those methods to manage their personal finance, that means poor man never be to the rich man if the poor given up mange his personal finance. Otherwise, the steps of personal finances has included 5 steps, the first one makes sure and develop a financial goal, then check the status of assets or capital. The third steps is understanding of each investment risk and considers the trend of investment, after that, allocation asset follows investment appetite and at last, review the performance of the investment and make adjustment according to the performance. A study of journal of college teaching learning found that the people always got personal finance skills in several ways, there are 70 percent of the financial skills that people got them from their father or mother or other family members. There are 60 percent of finance skills that people study them from their college. Parents are the first teacher of children and children always like copy their parents, but some evidence displays in the USA, lots of adults do not have enough personal finance skills so the children in this family got nothing in the finance area. (2002) According to Musk Winter (1998), there are lots methods to manage individuals personal finance, a good personal finance also as a money management plan, it would cover several factors such as regular generation of financial statements; budgeting; control of spending; recording income and expenses: and tax, insurance, investment, retirement and estate planning (p. 1) According to Chen Volpe, (1998), for many students, it is hard to create and use money management plan because this is student has a poor understanding on personal finance methods, after that, Chen Volpe, (1998) think about the poor understand about personal finance methods of college students is because their school do not support personal finance methods studying for their students. According to The Youth and Money Survey (1999), it found that there are 65% of the students had an opportunity to study personal finance methods, but there are only 21% of these students to study it. According to Kendrick (1999), there ar e 44% of student know the term budget, this is not the best worse, according to Elliot (1997), there are only 18% of the general population has a basic simple personal finance kills to manage their personal finance. After that, these people only can face a simple financial problem because it is limited by their personal financial ability. 2.6 Conclusion At last, the prior research has provided knowledge and understanding of undergraduate personal finance. But there are also has few weaknesses on this issue. Lots of prior reports only research on the personal finance skills but lack the outside factor which can give effect to the undergraduate personal finance. 3.0 Methodology 3.1 Introduction According to Sekaran (2002), research is referring an inquiry about a specific problem with organized, systematic, data based and critical objective. Then the final purpose of research is finding answers and solutions which can resolve this research problem. In other ways, the goals of research is support of researcher necessary information which is meet the needed of resolve research problem. After that, in order to better finish the research goals the researcher must be choose and use appropriate research methods which would be apply in the research process. According to Mackey Gass(2005), there are two common research approach always use in the research process, one is quantitative and the other one the qualitative. Quantitative research approach always use when the research design need a quantification data and the research result is statistical which from numerical analysis. Qualitative approach is use when the research data is not easily quantified and the result of research is interpretive not statistical. Otherwise, qualitative approach refers a describing of characteristics or feature of research objective without compare with other statistical data. After that, for quantitative methods, the result of research is from a compare with statistical data. So in this research, researcher should take a quantitative approach apply to the research process because these research factor can be compare with the collection data and the result is from the statistical analysis. 3.2 Data collection methods Data in research process can be divided to primary data and secondary data. Primary data is means the data is from primary sources that means the primary data is from the researcher to finish their research through collect and conclusions some outcome by himself. According to Macqueen(1998), secondary data source always from books, articles, and other publications source. Compare with primary data, secondary data always from other peoples work or knowledge.In this research, Data which necessary for the research are distribute in APU student. Researcher would take a Convenience survey that use in APU student. The data from this survey is the primary data collection because the data is from the survey of researcher. Otherwise, in order to better complete research objective researcher also chooses use lots of secondary data to support research process. 3.3 Questionnaire In this study, researcher would create questionnaires sent to APU student randomly. This questionnaire support lots of investigation question with single choice answer. The questions include several aspects such as the consumption level, the source of consumption, consumption structure and students financial management concepts and capabilities and so on. This is one of the forms of Quantitative research. This research involves populations that can be identified with geographic area such as APU campus. There is a small sample size and respondents are mainly from APU student. This study would be conducted by 60 respondents. The target group in this study is APU student. It mainly consists of the student who is study in APU degree course. The questionnaires will be divided to 5 main sections; section 1 is collecting the basic information of respondents included of gender, age and studying course. Section 2 to 5 is focusing on the factors which have affect on respondents personal finance. In section 2, all of the questions are testing whether the consumption concepts factor has affect on the respondents personal finance. Section 3 is majority focus on the consumption pattern factors whether has affect on respondents personal finance. Section 4 and 5 is main focus on the personal finance awareness and personal finance methods. It is collecting the feedback of respondents whether those factors have affected on their personal finance. 3.4 Limitations Limitations of thesis are from the survey because limited of the time and funding and the survey is focus on the APU student. Because this questionnaire is only distributed at APU campus and the survey is not a comprehensive survey then it cannot fully reflect the personal financial situation of the APU students. So this research is not particularly accurate and strict to reflect all of personal finance on other undergraduate. 3.5 Conclusion For research of this project, firstly, it makes a full understanding of personal finance to the researcher. Though this research it also provides some advice to examine those factors how affect on undergraduates personal finance. In the future, if the researcher enters finance or investment industry, this research provide a basis of finance and make an easy way to work. Otherwise, in the process of research project, the researcher had got some experience on data collection and communication with others. It also would provide benefit on the future employability. 4.0 Reference list Bowen, C. F., Lago, D. J. (1997). Money management in families: A review of the literature with a racial, ethnic, and limited income perspective. Advancing the Consumer Interest. p32, 11p Bakken, R. (1967). Money management understandings of tenth grade students. National Business Education Quarterly, 36, 6. Chen,Haiyand Volpe, Ronald P. (2002). Gender differences in personal financial literacy among college students. Financial Services Review, 11, 289-307 Chen, H. (1998). An analysis of personal financial literacy among college students. Financial Services Review. Vol. 7 Issue 2, 107-129. Exploring the college experience. (2004, March). Trends Tudes, 2, 1 Elliot, J. (1997). Young and in debt: A focus on prevention. Credit World. 85 (4), p35, 3p. Jang Liu.(2010). A Study on Contemporary College Students Consumption Value. P3, p8-11. Godfrey, Neal (April, 2002). The dud generation. ABA Banking Journal. 94 (4) 47 Kendrick, E. (1999). Give `em credit: When is it right for students? Austin Business Journal. 19 (25), p26, 3/8p Musk, G., Winter, M. (1998). Real world financial management tools and practices. Consumer Interests Annual (44), p19, 6p Mason, J. (2000). Educating Consumers. Advisor Today, Vol. 95 Issue 2, 125-130. Mandell, L. (1997). Personal financial survey of high school seniors. Jump Start Coalition for Personal Financial Literacy, March/April. Washington, D.C Palmer, T. S., Pinto, M. B., Parente, D. H. (2001). College Students Credit Card Debt and the Role of Parental. Journal of Public Policy Marketing, Vol. 20 Issue 1, 105-114. Robert, Kiyosaki. (Apr 2001). Sharon Lechter. Rich Dad Poor Dad. USA. Warner Book Ed Youth and money survey. (1999). American Savings Education Council, 16p. Zhao Lin-Hang.(Aug 2004). The Logic Basis and Development of Individuals Financing. Academic Exchange Serial. No.125 No.8