Celebration of Scholars
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.Submit date: March 24, 2020, 8:21 a.m.