The digital banking market is so fast paced and dynamic; its development affected the very process of using personal accounts. It became clear how many possibilities the students could get for themselves and their families using the technologies mentioned above; not to purchase things online but simply as a means for better financial management. Hence, the goal of the current research paper is to examine the influence of using these innovations on the financial habits of students via exploring whether having access to integrated budgeting and expense tracking tools incorporated into the digital banking system changes students' level of financial literacy, spending and saving habits. This piece of information might be valuable for both educators and financial institutions. To achieve this goal, it was necessary to create a model linking student financial behavior to the characteristics of banking technology available. It implies examples of services like using smartphones (installed applications), transactions/financial management through website services, auto-invoicing, etc. Also, it uses theories about consumer behavior, technology adoption and financial socialization and gives insight into the way digital banking influences students' knowledge of the state of their finances; making them behave more responsibly when it comes to spending money and savings.
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[...] The interviews will be recorded with the prior informed consent of the participants and subsequently transcribed. 3.6 Pilot Study A pilot study will be conducted carefully using a sample group of roughly 20-30 students (in the case of survey) and 3-5 students (in the case of interviews), who belong to Uttaranchal University prior to data collection. The following goals of the pilot study are: - Evaluate the comprehension level of the questionnaire items and interview questions according to the targeted student population. [...]
[...] International Journal of Higher Education, 8(2):112-128. Kramer, S. L. (2013). The effectiveness of personal financial management software: An exploratory study. Journal of Financial Therapy, 4(1):1-17. Lee, H. and Kim, M. (2017). Understanding the adoption of digital banking services: An extended tam approach. [...]
[...] Third, different apps may offer distinct sets of functionalities, user experiences, and "nudging" options, thus impacting the participants' experience with specific digital banking tools, which the current study does not capture. 5.5.3 Scope Limitations The current research focuses on the impact of digital banking's integrated budgeting and tracking tools on financial habits, financial literacy, and debt management of university students. Although this scope is appropriate for generating valuable findings, it also leaves out many other fast-evolving financial technologies, such as investment platforms, lending services, cryptocurrency trading tools, or peer-to-peer lending sites. Moreover, the study does not include objective financial indicators, such as credit scores, verified debts, or actual savings balances. [...]
[...] - Reliability Analysis: Internal consistency and reliability will be examined using Cronbach's Alpha for all the multi-item scales in the survey. 3.8.2 Qualitative Data Analysis The qualitative data gathered through the semistructured interviews will undergo systematic analysis through the use of thematic analysis (Braun and Clarke, 2006). This includes the following procedures: 1. Familiarization: Transcription of audio-recorded interviews, then thorough reading and immersion in the entire dataset. 2. Initial Coding: Generating initial codes based on patterns, ideas, and concepts found in the interviewees' responses. 3. [...]
[...] Braun, V. and Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2):77-101. Chen, Y. and Wang, L. (2018). The role of personal financial management apps in promoting financial wellness. Journal of Behavioral Finance, 19(4):411-425. [...]
