Personal Finance Management Practices and the Financial Stability of Tertiary Level Student Community

A B S T R A C T Many studies have attempted to find the link between financial behaviour (financial management practices) and the financial well-being among various groups regarding personal finance. However most have only gone as far as researching the impact of financial literacy of individuals and how that translated to their personal finance management. The objective of this paper is to find out the impact that financial management practices have on financial stability. The research also wanted to evaluate a group that is generally in a unique position, their income is fixed and their expenses are high (Micomonaco, 2003). Tertiary level students are important because they are on the brink of beginning their careers and having to take on more responsibility of their lives and finances. The sample for this research consisted of first degree students (Undergraduates) from Botswana's tertiary Institutions.