Perceived Influence of Consumer Socialization Agents on the Spending Behavior of Tertiary Education Subsidy (TES) Grantees

This study examined the perceived influence of consumer socialization agents on the spending behavior of Tertiary Education Subsidy (TES) grantees. Guided by Consumer Socialization Theory, the study determined the perceived influence of parents, peers, media, and educational institutions on students' spending behavior, compared the perceived influence of these socialization agents, and examined their relationships with spending behavior. A quantitative, cross-sectional, descriptive-correlational research design was employed involving 30 TES beneficiaries from one public and one private higher education institution selected through purposive sampling. Data were collected using a researcher-developed questionnaire that underwent expert validation, pilot testing, and reliability assessment. Descriptive statistics, the Kruskal–Wallis test, Spearman's rho, and Pearson's product-moment correlation were employed for data analysis. Findings revealed that educational institutions obtained the highest perceived influence (M = 3.49), followed by parents (M = 3.09), media (M = 2.64), and peers (M = 2.29). Significant differences were found among the perceived influence levels of the consumer socialization agents (p < .001). Parental influence (ρ = .441, p = .015) and media influence (r = .407, p = .025) were significantly associated with spending behavior, whereas peer influence (r = –.010, p = .960) and educational influence (ρ = .352, p = .057) were not significantly associated. Overall, the composite consumer socialization score was significantly associated with spending behavior (r = .399, p = .029). The findings support the importance of multiple consumer socialization agents in relation to the spending behavior of TES grantees and highlight the value of strengthening financial literacy initiatives through collaborative efforts among educational institutions, families, and TES program implementers.