60 effect. People with large amount of pocket money had enough money to
cover their needs and wants. In the other side, people who had limited or small amount of pocket money would need extra money to cover their needs
and wants. Therefore they would borrow money to get that extra money. The more often they borrowed because of their needs for extra money, the higher
their borrowing habit.
4.6.5. The Effect of Peer Acceptance on Borrowing Habit
Peer acceptance was not a predictor of borrowing habit as found in this study. Moreover, the negative value of C.R. indicated that even not
significant, the effect of peer acceptance to borrowing habit was negative, meaning that the higher peer acceptance would reduce the borrowing habit. It
was in contrast with the prediction as stated by hypothesis H5 that the effect would be positive.
The question arised here was why did peer acceptance have a negative effect on borrowing habit. The fear of not gaining acceptance would
be the possible answer. As it was noted before, peer acceptance was the effort to gain acceptance. The students might think that by borrowing money
from their friends was not a way of getting acceptance. Instead, borrowing money would make them looked like „poor‟ students to their friends. In the
other words, borrowing money might be seen as a way of getting rejection
61 from their friends. Then it was possible that the higher their peer acceptance,
they would also be very careful about deciding to borrow money. There were some variables that might affect borrowing habit
although pocket money and peer acceptance were not significantly affect borrowing habit. As well as it affected CBB, personality was also played a
role in influencing borrowing habit. Nyus and Webley 2001 found that introversion personality reduced borrowing behavior. They also found that
emotional instability had negative and significant effect on borrowing behavior. Since borrowing behavior was also about the tendency to borrow
money, it was possible that the two mentioned variables above did significantly reduce borrowing habit.
4.6.6. The Effect of Money Retention on Borrowing Habit
Money retention was the only independent variable that had significant effect on borrowing habit among the three independent variables
tested in this study. The hypothesis „money retention has a negative and significant effect on borrowing habit has been proved. Money retention
would help the students to control and reduce their tendency to borrow money from their friends or relatives. The result confirmed that those who
borrowed the most were the ones that knew the least about how to effectively and efficiently manage money.
62 The capability on managing their pocket money that was proved to
be high helped the students a lot. They managed their spending very well by buying their basic needs as their priority as reported in table 4.1. The ability
to manage their pocket money lead them to make saving even with limited pocket money. They also seldom experienced lack of money since they were
capable on managing their pocket money as shown by the score of the statement „I am capable on managing my pocket money so that I seldom
experience lack of money‟ in table 4.10. Even when they experienced lack of money, only 12.5 of the students chose to borrow money from their friends
or relatives when they needed extra money.
4.6.7. The Effect of CBB on Borrowing Habit
