The moderating effect of digital wallet usage on the relationship between allowance and food spending of financial management students in Pamantasan ng Lungsod ng Maynila

ABSTRACT: Digital wallets have become a popular tool for handling money, especially among students who manage their allowance. With the rise of cashless transactions, it is important to understand how these digital tools affect students spending behavior, particularly on daily needs like food. This study explores the relationship between students allowance and their food spending. It also examines whether the use of digital wallets, specifically GCash, changes or strengthens that relationship. A quantitative and correlational research design was used. Data was collected though surveys answered by randomly selected Financial Management students. The survey measured the students allowance, food spending habits, and the extent of their GCash usage. The results showed that students who received a higher allowance tend to spend more on food. Food was found to be a major part of their daily expenses, often influenced by convenience, lack of time to prepare meals, and social activities with friends. Although many students are familiar with GCash and use it for food purchases, it is not their main method of payment. The study also found that digital wallet usage does not significantly change the effect of allowance on food spending. In fact, the link between allowance and food spending was stronger among students who used GCash less. In conclusion, while both allowance and digital wallet usage affect students spending habits, digital wallets do not significantly influence how allowance impacts food spending. Based on the findings, it is recommended that students practice mindful financial habits, fintech companies improve budgeting features in their apps, schools include digital financial literacy in their lessons, and future researchers study other types of spending and consider emotional factors like financial stress.

Filipiniana