Monday, 14 April 2014

W1 T2 Holiday - 15/04/14

Some questions incorrectly answered, particularly no. of school hours, occupation and ranking questions. Also, I personally found it surprising that I received no questions regarding whether the $1000 situation in Q17 could be invested into each activity or split between the activities. Many respondents, however, did have confusion over how to answer questions 4 and 5 – the ones that required the respondent to rank the listed options from most to least in relation to participation. The main issue was whether they ranked each separately or in relation to one another. Another issue I found, particularly with Q4 was that some options were given the same rank. A minor issue encountered with Q5 was that some respondents ticked, not ranked, the options presented. As such, these raised issues when collating and tabulating the results.

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Just under half of the adolescent respondents nominated international then national locations as the majority of their travel destinations. Consequently, this leaves the majority of adolescents nominating out of town locations as being least likely to holiday to. However, there was greater variety in the adolescent response for the most likely travel destination, as seen by the relatively close results, in comparison to the responses received for the 2nd and 3rd options whereby there was a clear majority.
From the adult responses, however, it can be seen that the majority of adults nominated out of town travel destinations as the first option, but this option was also a close second or third. International travel also had a similar trend, with it being just under out of town for first, tied for second and up by just under 10% for third. Interstate travel was most commonly nominated as the 2nd most likely destination.
From this it can be seen that adolescents value more expensive holidays as opposed to adults who preferred to spend on mainly out of town travelling. This can be explained based on the situation both groups are in. For adolescents, it can be assumed that the majority of them travel with their family or close friends for the main purpose of a holiday. Due to the average income in the Hills District, international holidays are an achievable expense. These are normally undertaken as a break from the normal and often tedious daily work routine. It can also be considered a celebration, for example, travelling overseas for ‘schoolies’. For the adult situation, out of town travelling may be the main travel destination due to work reasons. This could either be for the reasons of certain elements of their job needing to be conducted interstate, such as meeting with customers based in another state to your own (eg); or having the length of your holiday being restricted due to inadequate work leave permission, the average being…. As such, adults may only have the ability to take short breaks that are still close to home, leaving the primary options being out of town or interstate locations.  
48%C, 32%A, 20%B | 39%A, 36%C, 18%B
48%B, 20%A, 4%C | 36%B, 15%A/C
40%C, 24%A, 8%B | 27%C, 18%A/B

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Work is one of the most important values to adolescents (featuring in all top 3) closely followed by eating/drinking and household activities| Work is also most important to adults, closely followed by eating/drinking (featuring in all top 3); household activities and  sleeping are also fairly important values.
Shopping is one of the least important values to adolescents (featuring in all bottom 3) and others are activities that do not yet apply to a great extent in adolescent daily life, including housework and caring for others. In the case of travelling, this could be because adolescents only really travel for short periods of time, for example catching a bus or train between suburbs or to nearby destinations. Sport/leisure may also not be given as great a priority due to school being the most time consuming activity at this age. | The results from the adult responses were similar. This could be because activities such as housework, caring for others, shopping, leisure/sport, eating/drinking and travelling do not consume large amounts of time. Whilst they may be important and part of daily activities, they are not the main time consumer.
From this it is evident that the majority of both adolescents and adults nominated work-related activities as being the largest daily time consumer. Also, the importance placed on eating/drinking varied across the responses, making an appearance as the majority both in the top 3 and in the bottom 3.
52% B, 16% A | 64%B, 9%A
40% E, 20%B| 36%E, 12%A/H/D
32%A, 16%E/B| 30%H, 27%A, 15%F/E

24%G, 20%H/D| 21%F/D, 18%A
28%D, 20%C| 27%D, 18%C
20% I/F, 16%D| 30%G, 15%H 

Sunday, 23 March 2014

T2 W8 - 23/03/2014

Notes and analysis of more secondary research to gain a deeper understanding of the topic of my second chapter - how financial context affects budgeting habits, was conducted. It also provided me with data that I will later be able to use to support and compare my own primary research to. A questionnaire for a financial advisor in this area was also drafted based on the secondary information collected today. The research has also contributed to my social cultural literacy by exposing me to a variety of opinions on this topic and by providing me with a more detailed understanding of the reasons behind why young adults choose to remain living with their parents. Initially, I believe that this was purely due to laziness or participation in education activities which, at that stage in life, would be the primary source of financial expenditure. I also believed that moving out was still an important milestone in an individual's life and an important process associated with socialisation. Through today's research, however, I have come to learn that there are more reasons behind why young adults choose to remain living with their parents. I also became aware that moving out was no longer being given the same importance and that many individuals returned home approximately 3 years after first leaving the home.

Thursday, 20 March 2014

W8 T2 - 20/3/14

The cross cultural aspect of my PIP was narrowed down to discussing the comparison between the financial values held by adults and adolescents in my first chapter, and a comparison between how financial situations impact budgeting habits in the second chapter.
The comparison in the second chapter will also include a section on how adolescent spending habits are becoming increasingly evident amongst numerous young adults who prolong moving out and developing a financially independent lifestyle. In this chapter I will discuss the various support networks that are available to aid this transition, such as financial institutions, help lines and parental support. This mindset will be related to the financial context that consumers are presented with in contemporary society. In this way, I will compare the adolescent mindset with the adult mindset in my second chapter, rather than defining these terms based on age.
I have also been able to successfully tabulate my results and hope to continuously update these on a regular basis as I receive more responses to my questionnaire. Initially, the layout of how I would present my information was my biggest obstacle, but once this was organised my next largest obstacle was found to be maintaining the patience and perseverance to organise and collate all the data collected through my questionnaire responses. I have also organised how the primary data will relate and contribute to the information contained in my chapters. I am also continuously evaluating my process and looking to interpret the data collected.

Sunday, 16 March 2014

T2 W7 - 16/03/14

I got quotes from the interview and evaluated the information received from it. I plan on using a lot of this in the second chapter of my body work. I have also tabulated some of the information received from the questionnaires; once all the information is collected I plan to put these figures into graphical format. A plan for the content of the two chapters that will compose the body of my work have also been written up. These include some specifics regarding the issues topics I will be addressing and what primary research will be included. Tomorrow I plan on getting more secondary research to support my argument about how the Depression impacted budgeting trends of older generations.

Friday, 7 March 2014

T1 W6 - 7/3/14

I have received results from 10 questionnaires and have 8 annotated secondary sources. I am aiming to hand out a total of approximately 80 questionnaires - 40 of these will be from adult respondents and 40 will be from adolescent respondents. Other sources of primary research I will conduct includes content analysis of major financial institutions and the information included in their advertisements, as well as an interview with a financial advisor/planner or accountant. I also hope to gather more subjective and interpretive data from secondary sources which will provide me with other opinions on my PIP topic. I also hope that these will inspire me about how to write my chapters.

Sunday, 9 February 2014

T1 W2 - 9/2/14

I found a source related to the activities individuals invest their time into, however an annotation of this needs to be completely still. I did, however, complete an annotation of another source - an 'Equip' questionnaire related to the financial activities of individuals. With the aid of this source, the majority of my questionnaire questions have been drafted. I just need to give it a clearer structure.

Thursday, 6 February 2014

W2 T1 - 6/2/14

My greatest challenge at the moment regarding my questionnaire is finding appropriate questions that will take the emphasis off the topic of money in order to allow people to feel more at ease when answering the questions. This will allow for more truthful answers to be submitted.