According to Amanda Daper (2017), a common mistake that students make was not creating and sticking with a reasonable budget. Students who do not create and stick to a reasonable budget run the risk of running out of money before the end of the first semester or the end of the school year. In Addition, Stollak (2011) mentioned that they had a hard time budgeting their allowance in order to buy the requirements on other expenses related to their project. In fact, Felipe (2007) stated that “A lot of the numbers of students seem to want what was the “in” trend what people are doing or using “right now".
Nowadays, most people can’t live without having money, and one of those are students, money was one of the most needed things for the students in their everyday spend like transportation, foods, wants, and the most important school expenses. And as a student at the same time being part of millennials, they want to be in trend and buy everything they want. And for them to provide what they get some money on their allowance. That the reason why they can’t manage effectively their everyday money.