Rationality in the Management of Personal Finances of Students in Poland in 2022-2023

Subject and purpose of work The objective of this study is to examine the impact of economic conditions on the management of students’ personal finances and to identify the prevailing approaches to managing students’ personal finances in the 2022-2023. The research problem of this study is to determine the difference in the structure of personal finances and approaches to managing personal finances between students in general and a group of selected students at the John Paul II University in Biała Podlaska in 2022-2023. Materials and methods The research methods employed in this study include the observational method, the monographic method, the diagnostic survey method, the method of analysis and criticism of the literature, the method of analysis and logical construction, and the heuristic method. A comparison has been made between the budgets of the sample population and those of students in general for the period 2022-2023, with an investigation of the reasons for differential income. Results The results of the analysis and research indicate that the sample population of students is distinguished by a relatively lower level of average income, expenses, and savings compared to the general student group and per capita households. Income, expenses and savings of the student population are significantly influenced by the level of development of the locality of their permanent residence in terms of access to recreational, entertainment, and cultural services, as well as the structure of the labor market and financial dependence on the household budget. Conclusions The majority of students in the sample population are financially dependent on their respective households, with the funds they receive from these households being spent almost entirely. The expenditures of the sample population are, on average, lower than those of students in general. This is due to two factors: the cheaper standard of living and the lower income level of the sample population’s households.