Cost of Friendship and Personal Finances — Presentation Detail — Celebration of Scholars

Instructions

Student presentations must have a faculty sponsor.

Abstracts must include a title and a description of the research, scholarship, or creative work. The description should be 150-225 words in length and constructed in a format or style appropriate for the presenter’s discipline.

The following points should be addressed within the selected format or style for the abstract:

A clear statement of the problem or question you pursued, or the scholarly goal or creative theme achieved in your work.
A brief comment about the significance or uniqueness of the work.
A clear description of the methods used to achieve the purpose or goals for the work.
A statement of the conclusions, results, outcomes, or recommendations, or if the work is still in progress, the results you expect to report at the event.

Presenter photographs should be head and shoulder shots comparable to passport photos.

Additional Information

More information is available at carthage.edu/celebration-scholars/. The following are members of the Research, Scholarship, and Creativity Committee who are eager to listen to ideas and answer questions:

Jun Wang
Kim Instenes
John Kirk
Nora Nickels
Andrew Pustina
James Ripley

Cost of Friendship and Personal Finances

Name: Joy Kidero
Major: Finance
Hometown: Nairobi, Kenya
Faculty Sponsor:
Other Sponsors:
Type of research: Senior thesis
Funding: n/a

Abstract

The objective of this topic is to study and explore the dynamic of friendship especially among young adults (ages 18-35), the high cost that comes with friendship which leads to money playing a big role in the relationships that people have and keep and the effect on personal finances. The topic is important and of interest because it focuses on the youth as the subject and looks into the new direction that social interactions are now taking where unrealistic expectations are set leading to financial irresponsibility, burden or strain. It is also important since the role that money plays in these relationships has a great impact on personal finances and the economy as a whole, yet financial literacy among young adults is limited. There is also a discussion on the factors contributing to the high cost of friendship, youth consumer behavior towards different products and services in relation to different industries and how such industries target and attract the youth encouraging them to keep spending money in social settings. A quantifiable model is used to determine the true cost of friendship while comparing different variables that include a continuum of friendship and different types of social interactions as well as the return on investment on the cost of friendship to determine whether the benefits outweigh the total cost of friendship.