Quick-Wealth Acquisition Financial Behaviour among Male Undergraduates: A Case Study of University of Nigeria, Nsukka, Enugu State

Abstract

This study investigated issues on quick wealth acquisition financial behaviours among male undergraduates in University of Nigeria, Nsukka (UNN). Specifically, it determined: factors that contribute to quick-wealth acquisition behaviours; consequences of quick-wealth acquisition financial behaviors; and measures that could curb quick-wealth behaviours trend among male students. Descriptive survey research design was adopted. Population was made up of male students in 2021/2022 session. Questionnaire was used to obtain data. Data were analyzed using mean and standard deviation. Findings show 18 factors that contribute to quick-wealth acquisition behaviours. These include, peer pressure ( X̅g = 3.48); desire to belong to most happening group (X̅g = 3.43) and the culture of instant gratification in society (X̅g = 3.38), among others. Others findings are seven consequences of quick-wealth acquisition behavior, include; stress and anxiety (X̅g = 3.47); financial distress such as debt accumulation (X̅g = 3.26), among others. Also there are 13 measures to curb quick-wealth acquisition behavior. These include: parental training (X̅g =3.48), encouraging undergraduates to engage in community service (X̅g = 3.42), counseling student on genuine wealth creation (X̅g = 3.36), among others. Four recommendations were made base on the finding.