ELC 590 - persuasive speech


Monroe Formula


Title                             : University Student Should Learn Financial Planning
General Purpose         : To persuade
Specific Purpose         : To persuade my audience that university student should learn financial planning.
Central Idea               : Financial Planning should be taken seriously by university student and therefore
                                       we must change the way we spent our money.

Introduction
I  . Money is a current exchange medium in the form of coins and banknotes .
II .Everything we want , we got to pay it using money but not everyone know how to wisely spend the money  .
i. It is very common for university student stressed about finances and commonly hear about student coming out of university to be burdened  by debt or loan .
III . But what if basic knowledge of financial planning still can be define as financial illiteracy     ?
IV . What if  financial crisis distract university student from academic success ?
i.                    There are lot of disadvantages if not applying financial planning such as distract in studies lead to lower down in grades , early age bankruptcies  and can be a major health problem mentally and physically and it also can be a cause the end of a relationship ,
ii.                  There are 63.17 % of university students in this world is having financial problems.
i . According to National Financial Education Council (NFEC) who did a survey from over 17000 participant .
V . I never knew that there are so many university students having financial problem until I read the data from NFEC earlier this year . Looking at the financial education statistics it is obvious to me that a lot of people are suffering due to financial illiteracy. The financial literacy statistics clearly show a lack of even the most basic knowledge.
VI . After doing some research for this speech , it was found that managing financial planning among university student is lot more important before start the programme .
VII . Today, I hope to persuade each of you start your financial planning .
VIII .Because financial crisis can lead to many other serious problem , we must start it now for better financial future or face the major problem in the future .



Body
1.0       There are so many researcher reported that students were worries getting burden on financial debt and loan .
1.1 . Improper Financial Planning can lead stress on student to make financial decision , stay focus on study and maintaining their health .
1.1.1 . According to a research by Ohio State University, seven out of 10 college students in the United States are worried about their finances .Sixty percent of college students said they were stressed about not having enough money to pay for studies and about 30 percent were worried about their monthly expenses, the results of the National Student Financial Wellness Study showed. The researchers also found that 32 percent of students neglected their studies because of debt.
1.1.2 The money woes led about three of 10 students to reduce the number of classes, whereas 16 percent of those surveyed took break from their studies and 13 percent transferred to another institution, according to the study's results.
1.2 .  More researchers found that financial planning show that saving behavior can be the key of success in financial planning.
1.2.1. In one study , the findings revealed that more than half of the respondents did not save any money when they received their scholarship or education loan . More than half of the students used their money for shopping. About 45% of them spent all their money before the end of the semester; 17% of students gave some money to their family, and 13% used their money to repay debts.
1.2.2 Those students with higher financial knowledge were more likely to engage in savings behavior, while those students with greater influence from socialization agents and late exposure in their childhood consumer experience were less likely to engage in savings behavior. There were 1574 cases for analysis of saving behavior, and 1560 cases for analysis of financial problems.
1.3 . Creating a financial plan helps you see the big picture and set long and short-term life goals, a crucial step in mapping out your financial future. When you have a financial plan, it's easier to make financial decisions and stay on track to meet your goals.


1.3.1. In another research  have conducted studies on the parental role of a child's financial education. Many parents thought that they can influence or encourage their children spending habits due to peer influence. The family is the source for most of a child's financial knowledge and provide the most deep-seated education. The poor financial habits of parents commonly present themselves in their children's lives. Parents can help children become effective money managers and responsible buyers by teaching them money management skills from an early age. own financial responsibilities if they received a good education on the subject at home, thus it shows that the best educations starts at home.

2.0       You can guard against these risks by making simple changes in the way you spend your money .
            2.1 . Make a personal budget planning .
2.1.1 . Take the process seriously by breaking down realistic spending categories and detailing what is expected to happen in a semester .
            2.2 Taking on debt.
2.2.1 .Debt is structured payment program can help control this and put it into context. plan out the potential total debt load with parents or family, and talk about how it will be paid off in the years after school .Their university cost and debt calculator allows students to get along-term view of the eventual cost of their degree and the implications of paying it down.
3.0       There will be serious  financial issue where can lead to end of studies , bankruptcies and lack of concentration in studies if we don’t change the way we spent our money .
3.1 Managing financial planning among university student is lot more important before start the programme .
3.1.1    Personal budget planning will guide student to not over budgeting .
3.1.2    This will avoid over expenses on the thing they desire and focus on the needs.




Conclusion
I .  After all , a lot of student having are suffering due to financial illiteracy
II. There many affective ways to overcome financial problem among university student . The first thing you should think about if you want to get out of the pit soon enough is making adjustments when it comes to your expenses which easily mean cut of expenses . If your current income isn’t enough to get you out of the woods, consider getting additional part-time jobs or trying your hand at one of many online methods of earning such as freelance writing and  taking surveys .Third is plan how you intend to spend, give, and invest the money you have. This is similar to a budget, but rather than focusing on your financial constraints, a spending plan focuses on your financial goals. 
III . Start today for a better financial future .
IV. We can prevent thing happen which is much better than later face it at the other age level .















Reference

Erin (2017)Financial Literacy Statistics, Data and Results


Infinity student (2012) Financial planning for students

Jeff Grabmeier  .  2015. 70 percent of college students stressed about finances
National survey finds students optimistic, despite debt and stress
https://news.osu.edu/news/2015/07/01/financial-wellness/


Leila Falahati (2011) Factors Predict Financial Problem Among College Students

Mohamad Fazli Sabri (2010 ) Savings Behavior and Financial Problems Among College Students:  The Role of Financial Literacy in Malaysia

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