AN EXAMINATION OF INCOME AND EXPENDITURE PATTERN AMONG THE STUDENTS
ABSTRACT
This research is on the income and expenditure pattern among the student of IMT, Enugu which is the case study. It is made up of five chapters, each of the chapters dealt with a particular aspect of the research work.
The research work aimed at identifying the sources of income open to students in the higher institutions of learning and universities as well as also how they spend this money given to them. Four research questions were set, the instrument used for data collection was a questionnaire containing 13 questions relating to the study.
The sample size used was determined by the yaro yamenic (1964:280) formula as such 40 persons were used. These persons were students who live in the hostels. Responses from the respondents were presented in able and analyzed using simply percentage method with a hypothesis presented using the chi-square method. Findings on research on the research showed that the greatest problem students have in income adjustment is that the emulate others whose income are not the same.
Secondarily, they do not significantly adjust well to their expenditure pattern in schools.
Finally, some recommendation and suggestion in some areas for further research were made. Among these recommendations area:
i.                   That student should refrains from band wagonism.
ii.                 They should form an expenditure pattern as a guide to their expenditure exercise.
iii.              Should not go to extreme when they are short of money resulting from maladjustment. This is to avoid the negative impacts attributable to mal-adjustment.
These, and more are the recommendation advanced to students to assist them in the income and expenditure pattern.
PROPOSAL
This research shall consist in details, the social adjustment and expenditure pattern. Among the statements of IMT Enugu. It shall focus much o the sources of income open to student in the higher institutions of learning and universities as well as how they spend those money given to them.
 The research will also comprise of questionnaire, which are related to the study. The sample size that will be used shall be analyzed using simple percentage method with a hypothesis that will be presented using the chi-square method.
 This research shall be made of five chapters, chapter one will consist of the general introductions, chapter two shall talk about the literature review while chapter three will comprise of research methodology. Chapter four shall discuss about the data presentation and analysis. The last chapter shall discuss the summary of finding to the problem and limitations, which the researcher shall encounter while carrying out research works.
 TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
1.1            Background of the study
1.2            Statement of problem
1.3            Objection of the study
1.4            Research questions
1.5            Hypothesis
1.6            Significance of the study
1.7            Scope of the study
1.8            Definition of terms
 CHAPTER TWO
2.0    Review of literature
2.1            Sources of finance to students
2.2            Expenditure item for the student
2.3            Modus of adjustment
2.4            Problems associated with students adjustment to new
Expenditure pattern
  CHAPTER THREE
3.0            Research methodology
3.1    Sources of data
3.2            Population
3.3            Sample size
3.4             Sampling method
3.5            Instrument for data collection
3.6             Validation of instrument
3.7             Collection of data
3.8              Method of analysis
 CHAPTER FOUR
4.0            Presentation and analysis of data
4.1    presentation and percentage analysis
4.2              Testing of hypothesis
CHAPTER FIVE
5.0            Summary of findings, conclusion and recommendation
5.1     Summary of findings
5.2              Conclusion
5.3              Recommendation
5.4              Limitations
     BIBLIOGRAPHY
 CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
This research work titled income and expenditure pattern among the student of institute of management and technology Enugu, will slightly take our minds back to the parameter and yardstick for proper and genuine development of s nation especially Nigeria to be preside.
 Luca Dacioli in his treatise says that “frequent accounting makes for a lasting friendship”. This goes a long to explaining how the student of IMT are being funded and how they go about expending the money they have to their basic scholastic necessities.
 
The periodical institutional mechanism for developing human skills and knowledge at the highest level is the polytechnic system. It follows therefore that any governmental effort for economic development should be duty bound, to give priority to polytechnic educational system.                                                             
 
In Nigeria, educational has been highly emphasized by both state and federal government. The existence of 11 (eleven) federal and 21 (twenty one) state polytechnic as at early 90’s is a dear manifestation of this emphasis on high level manpower, among other factors, has given rise it the increase demand for polytechnic education. This increased demand reached climax with the setting up of the joint Admission and matrictuculation Board (JAMB) for polytechnics. This works towards the goal of increased students intakes. This developmental idea being rested on human resources instead of capital  material resources is qualified by HARRISON (1973,P.3) who said “human beings are agents who accumulate capital, exploit natural resources, build social, economic and political organization and carry forward National development.
Although, the federal government through their various laudable establishments like (JAMB POLY) etc. anticipation the expansion of polytechnic but it is unfortunate that there is no communicate increase in the sum of money allocated. For example, reveals the undergraduates bursary. Such plan years too a stipend amount of N12m is allocated to polytechnics unless there is a change recently because of the democratic anticipated platform.
Down to the state level as well, the state provides equal benefit for each palm year, without considering the increase in total enrolment each year. Despite the dependence of a greater number of students on the bursary awards for their schooling. The state government knowing this full well most of them have stopped giving this bursary awards while the remaining others out down the amount being given to their students.
A proper investigation into students financing has classified students into two broad groups.
1.     Private students who are self-financed
2.      Student under scholarship
3.     Private students, fall under the category of those who are not enjoying any from of scholarship award. They cater for their financial obligations in the institution through the followings
a.     Sponsorship by parents or guardians.
b.      Self-sponsorship from personal saving.
 Particularly in the case of students who have    worked for some year before gaining admission and those presently working and engaging in distant education, part-time studies and the like.
c.      Sponsorship by local community and finally.
d.     Borrowing from distant relatives, friends and well-wishers on various items ranging from leashing of land, through, other acceptable securities pending the repayment of the loan after completion of studies. To an understanding that they should train the children of their parent sponsors after graduation.
 Having itemized the sources of private students financing, it is necessary to know their spending behavior bearing in mind that the money is coughed out from their sponsors hard earned meager income. Most often, the students under this category run into acute shortage part of the money is utilized for feeding and accommodation and little or nothing is left over buying of handouts and text books and other personal needs.
Attempts were made by the federal government previously to alleviate the suffering of private of self-financed students. The first of its kind was 1963, when the federal government established the federal scholarship advisory board. This board was charged with the responsibility of;
a.     Advancing awards as far as possible to the manpower needs of the federation.
b.      Giving scholarship allowance at a flat rate so as to increase the number of awards, thereby reducing the parity between government sponsored students and self financed students.
Again in 1973 a loan scheme was introduced to students in the higher institute of learning. The idea was to argument for the students not provided for in the former arrangement. The loan for each students in a session then, initially ranged from N400 to N500 now it increased to N1000 per session depending on their cause of study.
 Presently and as from 1977 these forms of assistance of students seized. The fate of self-financed students are based now on survival of defeats.
 1.1.         the second group the students under scholarship, those who receive support from government, companies, individuals or even the polytechnics. Before the 90’s they were really cared for because of the subsidized feeding fees, tuition, fees, boarding and hostel accommodation fees out gradually as the military who were in power hadn’t education as there priority. Their arrival put a stop to the various forms of scholarship open to students, the only geniuses noted scholarship still in existence were the overseas scholarship scheme, quiz and letter writing awards etc.
Finally, because of the difficulty associated with funding of students especially students of IMT one might be interested to  knows the expenditure partten of students as to compare it with the former days when scholars were a treasure.
1.1            STATEMENT OF PROBLEM   
Education is like a project for an project, its financing is very important. Since finance is one of the major problems students face in school, it cannot be easy for students sponsors to give  out money irrationally without knowing the students spending habits.
Therefore, the question the researcher wants to find answers to are, the various sources through which students are and have been sponsored. Finally, the different means the students spend money being given to them.
1.2            OBJECTIVE OF THE STUDY
This study is purposefully designed to X-ray the following areas:
1.     To identify the sources of income for students in the institute of management and technology
2.      To identify items of expenditure for students in IMT
3.      To find out extent students has adjusted to their new pattern among students.
 1.3            RESEARCH QUESTION  
The following questions has been asked to guide the study
1.     What are the sources of finance to students
2.      What are the items of expenditure among the students of IMT?
3.      To what extent has students adjusted their pattern of expenditure.
4.      what are the problems associated with social adjustment and expenditure pattern among students of IMT.
 1.5        HYPOTHESIS   
The following hypothesis has been formulated as an additional guide to the study.
 HYPOTHESIS I
HO: The greatest problem of students social adjustment in school is not that students emulate their colleagues whose income is not the same.
Hi: The greatest problem of student’s social adjustment to new pattern of expenditure is that they emulate their colleagues whose income is the same.
 HYPOTHESIS ii
HO: Students do not significantly adjust well to their new pattern of expenditure
Hi: Students adjust well to their new pattern of expenditure.
 1.6            SIGNIFICANCE OF THE STUDY
This study is meant to identify the students spending pattern in order to help them adjust their expenditure pattern. It is also to help students make a rational budget plan.
To also help them improve on the planning discipline as well as to encourage government and their sponsors provide some needs of students, which are beyond the reach of an average. It is also to encourage state and federal government to increase the bursary and answers given to students and lastly to provide a data for further studies.
 1.7            SCOPE OF THE STUDY
The scope of this study is limited to thee population of the student IMT of the 2001/2002 session.
 Although, still among this scope, some group of students were still eliminated they are:
i.                   The off-campus student and
ii.                 The praline students.
The off-campus students were excluded for these reasons. The sample was drawn from hostel of students’ residence for easy administration of questionnaires.
 More so, their number is found to be too small so their behavior is unlikely to affect the expenditure pattern. Finally, most of them are new students who are often not entitle to hostel accommodation.
 Conversely, the prelim students were left out also because they have not filly formed their expenditure behavior at the time when this research work was done.
 1.8            DEFINITION OF TERM
There is the need to define some words, we shall often meet viz:
1.     Average:  The result of adding several quantities together and dividing the sum by the number of quantities.
2.     Expenditure: Spending or using amount of money on item
3.     Patter.: Way of doing fings or ways in which things happen, developed or arranged.
4.     Social adjustment: The relations between people and community especially IMT community and how they altar something to make it fit and be used rightly.
5.     Percentage: Rate of number per cout.