A Research

ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL i
DETERMINANTS OF FINANCIAL LITERACY AMONG GRADE 12 ABM

STUDENTS
____________________
A Quantitative Research
Presented to
The Faculty of Accountancy, and Business Management (ABM)
Ilocos Sur National High School
Senior High School
Vigan City, Ilocos Sur
____________________
In Partial Fulfillment of the

Requirements for the Subject
Practical Research II
____________________
by:
Haizel Faith C. Patubo
Jessabelle R. Agapinan
Aleli Joy D. Piñon
Joseph P. Domenden
2022
ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL ii
CERTIFICATION
This qualitative research entitled, “DETERMINANTS OF FINANCIAL
LITERACY AMONG GRADE 12 ABM STUDENTS” prepared and submitted by
Haizel Faith C. Patubo, Jessabelle R. Agapinan, Aleli Joy D. Piñon, and Joseph
P. Domenden, in partial fulfillment of the requirements for the subject, Practical
Research II, First Semester, School Year 2021-2022, has been examined and is
recommended for acceptance and approval for Oral Examination.
JEFFREY B. ROBERONTA
Research Adviser
ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL iii
APPROVAL SHEET
Approved by the Panel of Examiners for Oral Examination with the grade of
_________________.
Mr. Gilbert Tabucol

Chairman
Mrs. Joanne S. Taculog

Member
Accepted and approved in partial fulfilment of the requirements for the
subject, Practical Research II, First Semester, School Year 2021-2022.
RICKY F. BOSQUE, Ed. D.

Subject Group Head
Science, Technology, Engineering and Mathematics (STEM)
Accountancy, and Business Management (ABM)
RODRIGO Q. REYES JR.

Education Program Supervisor
OIC, Office of the Principal IV
Date:
ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL iv
ACKNOWLEDGMENT
“People are blessings from God to us…”
Inspiration and motivation have always played a key role in the success of
any venture.
This research would not have been possible without the guidance and help
extended by the people who shared their valuable assistance in the preparation and
completion of this study. The researchers wish to express their gratitude to the
following:
Mrs. Editha C. Bagcal, Principal IV of Ilocos Sur National High School
(ISNHS), for her wholehearted support, encouragement, concern, and for allowing
the team conduct this study;
Dr. Ricky F. Bosque, the Subject Group Head of the Accountancy, Business
and Management (ABM), Science, Technology, Engineering and Mathematics
(STEM) Strand, for his fatherly concern, advices and support;
Mr. Jeffrey B. Roberonta, class and research adviser as well as statistician,
for his continuous motivation, guidance, support and suggestion in the conduct of the
study;
Mr. Gilbert Tabucol and Mrs. Joanne S. Taculog, panel members, for
their recommendations, technical assistance and suggestions in enriching the quality
of this research paper;

ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL v
To the respondents, who willingly lent their time in filling out the
questionnaire which provided the needed data for this research ;
Mr. and Mrs. Joseph F. Agapinan, Mr. and Mrs. Materno L. Domenden,
Mr. and Mrs. Richard P. Patubo and Mr. and Mrs. Ben P. Piñon, their parents
for the inspiration, love, care, unending support and guidance for them to continue
reaching their aspirations;
Their classmates, friends, and relatives and everybody who helped, inspired
and encouraged the researchers to finish this study not only a requirement but also a
lifelong learning;and
Last but not the least, to God, the Father of all fro the strength that keeps the
researchers going, his infinite love, and unending blessings, for without Him, the
researcher will not be having this far.
J.R.A.
J.P.D
H.F.C.P.
A.J.D.P
ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL vi
DEDICATION
This research is dedicated to
Our Almighty Father, for giving us hope whenever negative vibes conquer,
For showering us the ability, skills and strength in completing this research,
We gratefully thank YOU…. with all our heart,
for YOU listened to our prayers,
for YOU have helped us fulfill our dreams
for YOU have never left us, and granted our wishes.
To our dearest parents,

who never failed to assist us and give us their precious time,
who provided financial and moral support
who served our inspiration and strength
who gave us the motivation, love, and care, made it possible to complete this work.
To our sisters, brothers, and friends,

who shared us the skills and knowledge we need,
our motivation and inspirations of our dreams.
To our beloved teachers, classmates and schoolmates,

who serve as our second parents and siblings,
who never failed to extend their arms when needed.
Lastly, we dedicate this work to ourselves,

because without our sacrifices determination, and strength to finish this study,
to all those sleepless nights, we would not be able to come up with this paper.
Once again, thank you, and may God shower you lots of happiness
God bless.
Jessa
Joseph
Haizel
Aleli
ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL vii
ABSTRACT
This study aimed to determine the Level of Financial Literacy among Grade 12
Accountancy, Business and Management of Ilocos Sur National High School currently
enrolled in Ilocos Sur National High School, Senior High School, for the First
Semester, SY: 2021-2022. The personal profile of the Grade 12 ABM Students was
delimited to sex, age, place of residence, parent’s occupation, family’s monthly
income, birth order, daily allowance, and number of finance related trainings/seminars
attended. Specified determinants were used to determine the Level of Financial
Literacy of the respondents that includes Spending Habits, Saving Habits, Budgeting
Habits, and Borrowing Habits. Descriptive-correlational research design research
design was used. The primary data gathering tool utilized was a questionnaire
constructed by the researchers that was disseminated digitally to follow implemented
health protocols.
Out of 174 Grade 12 Accountancy Business and Management (ABM) students
of ISNHS for the school year 2021-2022, only 121 of them were chosen as sample of
this study, which was determine by the Slovin’s Formula.
The statistical tools that used are frequency, count and percentage, mean, and
simple correlation analysis.
The researcher then concluded that majority of the respondents are female, most
are 17 years old, resides in rural places, father’s occupation belongs to Category which
are the Clerical and Sales, Wash Technician like Bookkeeper, Salesclerk, Driver,
Farmer, Telling their own land, mother’s occupation belongs to Category VII
(Jobless), a first born in their families, family’s monthly income belongs to 10,000 and
ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL viii
below, and have a daily allowance ranging from 51-100 ; Majority of the Grade 12
ABM Students attended a number of finance related training/seminars ranging from 0-
2; The respondents gave an overall description of “High” in their level of financial
literacy in terms of budgeting habits; The Grade 12 ABM Students gave an overall
description of “Very High” in their level of financial literacy in terms of Spending
Habits, Saving Habits, and lastly, Borrowing Habits; Lastly, there is a significant
relationship between the personal profile of the Grade 12 ABM students with their
level of financial literacy.
The researchers therefore recommend that the Grade 12 ABM students, which
served as the respondents, should continue utilizing their habits in spending, saving,
budgeting, and borrowing to better manage and utilize their financial resources; since
the study focuses only in one strand (ABM Strand) which is its limitation, future
researchers and researches who will conduct with the same study, may widen the
coverage of its researcher which may be applied to all Track/Strand of Senior High
School (SHS); and another study should be conducted and continue this study to
determine the factors affecting Level of Financial Literacy of an individual.
Respondents of it can be students.

ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL ix
TABLE OF CONTENTS
Preliminaries
Title page…………………………………………………………………………….i
Certification………………………………………………….……….….………….ii
Acknowledgment…………………………………………………….….………….iii
Dedication……..……………………………………………....................................iv
Abstract……………………………………………………………………....……..vi
List of Tables…………………………………………………………………..…...xi
List of Figures……………..……………………………...………………….…….xii
Chapter I: The Problem Introduction....………………………………...
……………………..………………1 Statement of the Problem…….
……………………...……………..…………….….4
Significance of the study……………………………………………….……………. 5
Scope and Delimitation…………….…………...….………………………….……...5
Review of Related Literature……………………………………………………….6
Conceptual Framework…………………………….………………………………13
Hypothesis…………………………………………………….……...……………14
Assumptions…………………………………………………….…………………14
Operational Definition of Terms………………………………………….....…......14
Research Methodology………...………………………………………………….16
ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL x
Research Design…………………………………………………………………..16
Population and Sample…………………………………….……………………....16
Data Gathering Instrument …………………...…………………..………………...17
Data Gathering Procedure………………………………………………..…………18
Statistical Treatment of Data……………………………………………….……....18
Chapter II: Presentation, Analysis, and Interpretation Of Data
Problem 1 …………….……………………………………………………….…...20
Problem 2...………………………………………………….…....……….……….24
Problem 3………………………………………………………..…………………30
Chapter III: Summary, Conclusions, and Recommendations
Summary.………………………………………………...…………….……….….32
Findings….…………………………………………...............................................33
Conclusion…………………………………………………………...…………….36
Recommendations….………………………………………………………...……37
Bibliography….……………………………………………………….….……......39
Appendices.…………………………………………………………………...…..44
Curriculum Vitae…………………………….……………………………………57
ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL xi
List Of Tables
Page
Table 1. Distribution of Respondents..................................................................….....17
Table 2. Personal Profile of the Grade 12 ABM Students…………………...............21
Table 3. Item mean ratings on the level of financial literacy of the Grade 12 ABM
Student in terms of Spending Habits…………………………………………………24
Student in terms of Savings Habits…………………………………………………..26
Student in terms of Budgeting Habits………………………………………………..27
Student in terms of Borrowing Habits……………………………………………….28
Table 7. Correlation Coefficient between the Personal Profile of the Respondents and
their Level of Financial Literacy…………………………………………………….30

ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL xii
List of Figure
Page
Figure 1. Research Paradigm……………………….…………………………..…..13

ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL 1
Chapter I
THE PROBLEM
Introduction
People make financial decisions daily. The day-to-day financial decision
affects all of their financial resources. Financial decisions such as purchasing
necessities such as food and water, paying bills, and purchasing wants like expensive
clothes, shoes, pieces of jewelry. Sometimes people don't mind that they spend too
much to the point where their financial resources run out, and if they buy unnecessary
things, which is not a good habit; instead, they need to be mindful of what financial
decision they'll make and they should have the skill on how to make a sound financial
decision on a day-to-day basis; in short, they should be financially literate.
According to Fernando (2021), Financial literacy is defined as the ability to
understand and effectively use various financial skills, including personal financial
management, budgeting, and investing, that serve as the foundation of those
financially literate in their relationship with their financial resources. In a similar
vein, Lusardi and Mitchell (2007) defined financial literacy as one’s ability to
understand finance. Set of skills and knowledge that allows an individual to make
informed and effective decisions throughout their understanding of finance.
In connection, there is ample evidence of the impact given by financial
literacy on people's day-to-day decisions and to their financial behavior. An example
of it is, financial literacy has been proven to affect the saving and investment
behavior and debt management and borrowing practices of those who are financially
literate. In short, financially literate people are more likely to accumulate wealth
(Lusardi and Mitchell, 2014). Financial literacy is also associated with much higher
returns on investments, especially on stocks that normally offer higher rates of return,
which associate with an accumulation of wealth (Lusardi, Michaud, and Mitchell
2017). Another, from a household point of view, financial literacy allows individuals
to increase and better manage their earnings and therefore better manage life events
like education, illness, job loss, or retirement (Rajat, 2007). Similarly, a financially
literate community can better assess the financial policies of their respective
governments and the actions of the financial system. Finally, the financial sector of
an economy with financially knowledgeable citizens can be effective and grow at an
alarming rate, hence achievement of economic growth.
There are negative impacts attached to a financially illiterate individual. A
financially illiterate individual can pose several problems in the economy. Thus, lack
of financial literacy has been cited by numerous studies as a major reason for; costly
borrowing and high debt (Lusardi and Tufano, 2009). As well as overspending and
debt.
A study conducted by Taft, Hosein, & Mehrizi, S. (2013) entitled, and “The
Relation between Financial Literacy, Financial Well-being and Financial Concern”
had shown that there is a positive relationship between the age and the financial well-
being as well as financial literacy among the respondents. As well as their marital
status and sex, their study had shown a significant relationship with their financial
literacy. It has also stated in their study that a higher level of financial well-being
follows financial literacy.

Financial education is therefore important for citizens, especially the ABM
students, who later will have to take part in economic activities. As ABM students,
they faced also challenges to understand and on the application of financial literacy.
Thus, everyone needs to study and make efforts to widen their horizon so that they
can cope up and put into practice their teachings. Lyons (2004) states that poor
financial management can also affect academic performance, mental and physical
well-being, and even the ability to find a job after graduation.
Moreover, upon browsing from approved online sources, researchers have
learned that a lot of researches regarding financial literacy have been studied
throughout the year among different people, such as entrepreneurs, teachers, mothers,
and many more, but it was discovered that it is scarce for students, especially
students their age, who have higher purchasing habits than any other generation. As
their needs have grown and had so many factors in their surroundings that influence
them in their purchasing habits, such as social media trends, upbringing, and many
more. A study in India has shown that teenagers spend more money on shopping,
especially with branded items. (Hasan, Subhani, & Osman, 2012), For this reason,
the need for further studies regarding financial literacy among any group of students
is highly needed, and to fill this gap, the researchers of this study conducted the said
needed research which was focused on senior high school students, specifically
Grade 12 ABM students.
For this study, the researchers focused on four major areas to measure the
level of financial literacy among Grade 12 ABM students, namely Spending Habits,
Budgeting Habits, Saving Habits, and Borrowing Habits. Along with those areas, the
personal profile of the selected respondents focused on their age, sex, parent’s
occupation, and last, their family's monthly income.
This study was conducted with the primary goal of determining the level of
financial literacy among Grade 12 Accountancy Business and Management students,
along with their profile concerning their spending habits, saving habits, budgeting
habits, and borrowing habits. The result could pave the way for students to
understand why financial literacy is so important in their lives. Also, will enable
school administration to develop policies on how to improve financial literacy among
the respondents and other students at Ilocos Sur National High School. Parents will
also guide and teach their children about financial literacy.
Statement of the Problem
This study aims to determine the level of Financial Literacy among Grade 12
Accountancy, Business and Management student of Ilocos Sur National High School
SY:2021-2022.
Specifically, it sought to answer the following question:
1. What is the personal profile of the Grade 12 ABM students in terms of the
following:
a. Sex,
b. Age,
c. Place of Residence,
d. Parent’s Occupation,
e. Family’s Monthly Income,

f. Birth order,
g. Daily Allowance, and
h. Number of Finance Related Training/Seminars Attended
2. What is the level of financial literacy among Grade 12 ABM students in terms
of:
a. Spending Habits,
b. Saving Habits,
c. Budgeting Habits, and
d. Borrowing Habits
3. Is there a significant relationship between the personal profile of the Grade 12
ABM students with their level of financial literacy?
Significance of the Study
This result of this study will broaden students understanding regarding
financial literacy, and would have an awareness on how to handle their money. Also,
it will give information to the school administration that will enable them to craft
programs and awareness on how to improve financial literacy among the respondents
and other students at Ilocos Sur National High School. Parents will also notified how
having financial literacy at such a young age is critical, which could pave them to
guide and teach their children about financial literacy.
Scope and Delimitation
This study primarily focus on determining the level of financial literacy
among Grade 12 ABM students as the respondents of the study, who are currently
studying at Ilocos Sur National High School SY. 2021-2022.

The independent variables of this study were the personal profile of the Grade
12 ABM students that includes their sex, age, place of residence, parent’s occupation,
family’s monthly income, birth order, daily allowance, and number of finance related
training/seminars attended. While the dependent variables are the determinants of the
level of financial literacy among the Grade 12 ABM students, which are categories
into 4 parts, which is on Spending Habits, Saving Habits, Budgeting Habits, and
Financial Knowledge.
Out of 174 Accountancy Business and Management (ABM) students of Ilocos
Sur National High School (ISNHS) for the school year 2021-2022, the researchers
target 121 respondents as a sample basing it on the Slovin’s Formula.
Descriptive-correlational method of research was utilized in the conduct of
the study. Checklist questionnaire was used to gather the needed data to answer the
research problem of the study which were done online to follow implemented health
protocols, using Google form.
Review of Related Literature
This section presents related literature after the thorough and in-depth search
done by the researchers.
On Financial Literacy
Financial literacy is defined as a skill that individuals should be able to
master, as it is a necessary tool for daily living especially in their day-to-day financial
decision (Philippas & Avdoulas, 2019). Same with Kezar & Yang, 2010, they said
that financial literacy is both an important skill in life and a critical intellectual
competency an essential component in getting a college degree. They also further
said that it’s not mandatory to be professional first, to become financially literate, but
one need to be financially literate so achieve financial stability. Also according to
Remund (2020), financial literacy is broadly defined as the ability of an individual in
managing their financial resources. Meanwhile Worthington (2005, p.2), defines
financial literacy as the ability of an individual to make sound judgements and to take
sound decisions with regard with the utilization and management of their money.
The study conducted by Xiao et al. (2010) explains that financial literacy
comes with the financial behavioral of an individual. In other words, while financial
literacy is a necessary skill to each individual, what is also important is to translate
this skill into a behavior that would lead into an achievement of effective
management of their financial resources. (Reswari et al., 2018)
Moreover, Agarwalla et al. (2013) said that considering the environment
nowadays where the financial products as well as services keep increasing, it is then
necessary that individual to develop a thorough understanding so that may able to
develop sound decision and choose the right path to achieve set financial goals.
Investing in financial literacy at such a young age generate better investment
opportunities in the future for individuals, raising the returns of those investment that
could lead to accumulation of wealth. (Jappelli &Padula, 2013)
To increase the financial literacy of every individual in the society, the
presence of financial education must achieve. Through this, consumers will be
informed with their rights as well as their responsibilities that would provide them
with the information essential to arrive at sound financial decision (Orton, 2007).
Zaimah et al., 2013 defined financial education as any program, knowledge and skill
that addresses the financial concepts and topics that educate and improve student’s
financial literacy. According to Wagner (2015), financial education is studied in three
ways. The first way estimates how financial education affects the financial literacy
scores of individuals. The second way studies the effects of financial education on
different short-term financial behaviors. The third way estimates the effects of
financial education on different long-term financial behaviors.
In connection, Harnisch (2010, p.3) have said that financial education can
help to achieve a “sustainable, vibrant lifestyle during work years and retirement.” It
is then assumed that higher financial literacy yields sound financial planning. The
study of Tan and Siew (2011) concludes that financially literate individuals have
positive impacted their ability in financial plan with their day-to-day personal
expenses.
Bruhn et al. (2013) defend the idea to introduce financial literacy in formal
school because they believed that creating good financial habits at such a young age
are most likely to bring benefits to schooling, employment, and standards of living
throughout different stage of their development, such as their adulthood stage. They
also point out that well-informed students are able both to develop their own sound
financial choices and also to act as a bridge of positive changes in their own
household day-to-day financial decisions.
Furthermore, a study conducted by Hanson and Olson(2018), their study's
result suggested that communication with parents affects the level of finncial literacy
of the children as they provide important information regarding financial matters.

Also, the result of the study conducted by Ansong and Gyensare (2012), work
experience of the respondents, mother's education as well as their age is positively
related to their level of financial literacy. Lastly, a study conducted on the level of
financial literacy among students by Gyimah et al (2018), its result was that, on
average, students’ lacks financial knowledge, but it is financially literate in savings
and borrowing.
On Determinants of Student’s Level of Financial Literacy
On Spending Habits
According to Nadome (2014) spending habits of students has never been
stable, especially university students are experiencing independence for the first time.
Although in the Philippines most students are still living together with their parents in
a same roof during senior high school and college years, nowadays their needs have
changed drastically, laptops, cellphone, expensive clothes, shoes have become
essential to students when it come to their day-to-day lives .In conclusion, the
spending habit of students today are now different to the habit that student’s do in the
past
Also, spending habits may also differ in terms of an individual monthly
income and daily allowances. According to Morrell & Kiersz (2017), low-income
Americans spend their money on housing or into their day-to-day necessities,
meanwhile high-income Americans spend a much on insurance and retirements.
A study by Attri (2012) namely Spending and Saving Habits of Youth in the
City of Indore addressed the problem statement of why, where and how the young
individual spend. The study concludes that there spending habits of young individual
had massive influence with their peer group they belong, that affects their purchasing
decisions, as well as their age and sex they belong to. Another study regarding
Spending Habits conducted by Saravanan and Devakinandini (2014) , in their study
they examine how socio-economic status influences the spending habits of youth
with their pocket money, which in their study, it was revealed that youth get attracted
by their society they are in, and usually spend their money in not so essential things
or in wrong means.
Furthermore, According to Reiszel (2020), developing smart and good
spending habits takes time, but having those entails such endless benefits, not only in
the present but also in the future, and as early as now, especially students, should
develop good spending habits that will eventually benefit themselves.
On Saving Habits
Savings is one of the basic components of financial literacy. The habit of
savings plays an important role in everyday financial decisions. According to Loibl,
Kraybill & DeMay (2011), savings habit refers to the frequent practice behaviors,
with the goal of freeing up money for saving or for deduction of debt. They also
mentioned that savings habits reduces the individual stress in such financially
difficult situations. Although, habit formation is not an easy act, once we have
formed habit in savings it affects one’s saving ability because habit formation
influence individual's perception, intention, and attitude towards saving money.

According to Paine (2012) in her book “The Money Saving Mom’s Budget”
youths should be taught on how they should save and prioritize buying what they
really need. The book shows that people to be able to save efficiently, they must
know how to weight what they really needed versus what is irrelevant or not needed.
A study conducted by Montecillo (2015) had concluded that those people who
have saving habits are more likely to have money left after paying those expenses
incurred for their basic necessities every month, who’s less likely to borrow, and less
to prone of overspending on something.
On Budgeting Habits
According to Whaley (2021) Budgeting is a process where individual
provides an overall view of their income and expenses. Budgets provide immediate
support for cash flow issues. Budgeting act as bridge that control individual’s
lifestyle with the purpose of preventing debt, overspending, and a way to increase
savings.
In connection, having a budget habits play an important role in student’s daily
lives because students' spending habits on their respective schools will influence the
way they budget their finances throughout their lives (Ibrahim et al., 2009). If
students have the idea of budgeting their finances, there will be less percentage that
they overspend in buying something, and less likely to borrow money with their
peers or family members (Cummins et al., 2009).
A study conducted by Montecillo (2015) entitle, “Financial Literacy affects
spending, saving habits” had shown that nearly 45 percent of his participants didn’t
plan their monthly finances, while the rest are regularly or occasionally had plan.
Those 12 % respondents who have agreed they have budgeting their monthly
finances are less likely to overspend on something, 5% are less likely to borrow
money , and 9% are more likely to have money left for savings every end of the
month.
On Borrowing Habits
One of the core components of financial literacy is borrowing. According to
Homan (2016), he stated in his study that borrowing money is not always a sign of
bad financial behavior; rather, this is a smart way when it comes to such financial
decisions. He also added that, “individuals borrow money for instance to make stable
and expensive purchases and to protect themselves against unexpected events.”
However, individuals must be smart when it comes to borrowing money.
In connection to this, one of the smart borrowing choices according to Singh
(2019) is, borrowing money with important purposes, individual must borrowing
because it is really needed, and they must not go with bad debt because it is not a
wise financial habit. Another smart borrowing choices according to Singh (2019) is
to borrow money that an individual can only afford. Individual must be able to
understand first they financial situation, they must ensure that they have enough
money to repay it when the repaying time comes.
Furthermore, according to Lusardi et al. (2015) individual who fail to
understand the concept of interest compounding and other related to smart borrowing
are more likely to spend higher on transaction fees, run up more significant debts,
and incur higher interest rates on loans. They tend to save less, and borrow more
money. Indeed, individual, when it comes to borrowing, needs to be smart and wise.
Conceptual Framework
The study evolved based on the paradigm illustrated in Figure 1 below:
INDEPENDENT VARIABLES DEPENDENT VARIABLES
Personal Profile of the Grade 12 Level of Financial Literacy

ABM Students among Grade 12 ABM
Sex Students
Age Spending Habits
Place of Residence Saving Habits
Parent’s Occupation Budgeting Habits
Family’s Monthly Income Borrowing Habits
Birth Order
Daily Allowance
Number of Finance Related
Training/Seminars Attended
Figure 1: Research Paradigm

The paradigm shows the relationship of the independent variables and
dependent variables. Wherein the independent variables is the personal profile of the
Grade 12 ABM Students that includes their sex, age, place of residence, parent’s
occupation, family’s monthly income, birth order, daily allowance, and number of
finance related training/seminars attended. While the dependent variables are the
determinants of the level of financial literacy among the Grade 12 ABM students,
which are categories into 4 parts, which is on Spending Habits, Saving Habits,
Budgeting Habits, and Borrowing Habits.
Hypothesis
The formulated hypothesis of this study is the following:
Ho: There is no significant relationship between the personal profile of the Grade 12
ABM students with their level of financial literacy.
Ha: There is a significant relationship between the personal profile of the Grade 12
ABM Students with their level of financial literacy.
Assumption
The following assumptions are considers in this study:
1. All instruments used in gathering the needed data for this study are valid and
reliable.
2. Respondents rated the questions provided truthfully.
Operational Definition of Terms
For the purpose of clarity and understanding, the following terms are defined
as follow;
ABM. Short term for Accountancy, Business and Management, which is one
of the strand of senior high school that focus on business topics, management and
finances.
Age. The number of years an individual exist in this world.
Birth Order. Rank of the respondents by age among their siblings.
Borrowing Habits. It is the frequent practice of an individual when it comes
to borrowing money to other people.
Budgeting Habits. Is the habit of an individual of creating a plan how he/she
will spend money.
Determinants. An element that determine the level of financial literacy
among the respondents.
Family’s Monthly Income. It is the total income accumulated by the parents
of the respondent per month.
Financial Literacy. Ability of an individual to effectively manage money,
debt, and spend it wisely.
Parent’s Occupation. It is a main work that the respondents do.
Personal Profile. This refers to the identification of the respondents.
Saving Habits. Frequent behavior of an individual in saving for future
acquisition of something.
Sex. The identification whether an individual is a male or female.
Spending Habits. Behavior or way of an individual in spending their own
money.
Research Methodology
This sections presents the detailed description that discusses the research
design, population of the study, data gathering instrument, data gathering procedure,
and statistical treatment of data that were used in the conduct of the study.
Research Design
This study utilized a descriptive-correlational research design. Descriptive
method was utilized to determine the personal profile of the Grade 12 ABM students
and their level of financial literacy in terms of Spending Habits, Saving Habits,
Budgeting Habits, and Borrowing Habits. According to McCombes (2019),
descriptive research design aims to describe a population, phenomenon, as well as
situation. It answers the questions what, why, when and how.
Correlational research design was employed to determine if there a significant
relationship between the personal profile of the Grade 12 ABM students and their
level of financial literacy. Correlational design refers to the type of research design
where researchers investigates the relationship between two or more variables
(Bhandari, 2021).
Population and Sample
The respondents of the study were the Grade 12 ABM Students of Ilocos Sur
National High School who are enrolled during the first semester of school year 2021-
2022. The sample was computed using the Slovin’s Formula below:
N
n= 2
1+ N e
where: n= Sample Size, N= Population Size, and e= Margin of Error (0.05). After
which stratified sampling was used to determine the distribution of sample in each
section. The distribution of sample is presented in table 1.
Table 1: Distribution of Respondents
Grade 12 ABM Sections N n

1. Machiavelli 43 30
2. Marx 43 30
3. Smith 43 30
4. Weber 45 31
Total 174 121
Data Gathering Instrument
The researchers utilized a checklist type of questionnaire to answer the
questions raised in the Statement of the Problems of this study. To follow the
implemented health protocols, the researchers adopted an online survey to the
selected respondents using google form.
The questionnaire consists of a total of 2 parts. Part I were the personal profile
of the Grade 12 ABM students. Part II will be the four (4) determinants that would
determine the level of financial literacy of the respondents, which is their Spending
Habits, Saving Habits, Budgeting Habits, and Borrowing Habits. The researcher used
a Likert scale to determine the agreement and disagreement of the respondents with
the question that were presented in the constructed questionnaires.
The scale below was utilized to determine the level of financial literacy of the
Grade 12 ABM students:
Range of Scores Item Descriptive Rating Overall Description

4.21-5.00 Strongly Agree Very High
3.41- 4.20 Agree High
2.61-3.40 Neutral Fair
1.81-2.60 Disagree Low
1.00- 1.80 Strongly Disagree Very Low
Data Gathering Procedure
Before the conduct of the study, researchers brainstormed a research topic.
Afterwards, proposal of title were done, and were approved. After that questionnaires
were made in order to find the needed data of this study. After creating the
questionnaires, the questionnaire was reviewed and checked by the research adviser
of the researchers, Mr. Jeffrey Roberonta and created a letter for content validation
for the validators and validated afterwards by Mrs. Joanne S. Taculod, Mrs. Rodelia
L. Abang, EdD and Mrs. Kristhine C. Europa.
After those processes, the researchers then seek permission to the school
principle to conduct the study, as well as the advisers and presidents of the 12-ABM
sections involved in this study. As soon as the request was granted, the researchers
then float the questionnaires to the respondents of this study.
Statistical Treatment of Data
The following statistical techniques were used to treat the gathered data
needed for this study:
1. Frequency Count and Percentage- This were used to describe the personal
profile of the Grade 12 ABM.

2. Mean- Utilized in determining the level of financial literacy among the Grade
12 ABM students.
3. Simple Correlational Analysis- It was used to determine the relationship
between the personal profile of the respondents and their level of financial
literacy.
Chapter II
PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA
This chapter presents the analysis and interpretations made on the data gathered
in the study to answer the research problems raised in the previous chapter.
Problem 1. What is the personal profile of the Grade 12 ABM students in terms
of the following:
a. Sex,
b. Age,
c. Place of Residence,
d. Parent’s Occupation,
e. Family’s Monthly Income,
f. Birth order,
g. Daily Allowance, and
h. Number of Finance Related Training/Seminars Attended
Personal Profile of the Grade 12 ABM Students
Table 2 shows the profile of the respondents from Senior High School (SHS)
particularly the Grade 12 Accountancy, Business and Management (ABM) students.
On Sex. Majority of the respondents (95 or 78.5%) are said to be a females
based on the data gathered by the researchers and to what is presented in table 2,
while the remaining (26 or 21.5%) are said to be males.
On Age. More than half (79 or 65.3 %) of Grade 12 ABM students are 17
years old, with those aged 18 years old respondents coming in second (39 or 32.2 %).
The respondents also include 2 or 1.7 % who are 16 years old and the lowest
percentage (1 or 0.8 %) are 22 years old.
On Place of Residence. As gleaned in the table 2, the more than half (71 or
58.7%) of the Grade 12 ABM student reside in rural places, while the remaining (50
or 41.3%) reside in urban areas/places.
Table 2. Personal Profile of the Grade 12 ABM Students
Frequenc
Sex y Percent
Male 26 21.5
Female 95 78.5
Total 121 100.0
Frequenc
Age y Percent
16 years old 2 1.7
17 years old 79 65.3
18 years old 39 32.2
22 years old 1 0.8
Total 121 100.0
Frequenc
Place of Residence y Percent
Rural 71 58.7
Urban 50 41.3
Total 121 100.0
Frequenc
Parent's Occupation (Father) y Percent
Category I (Higher Executive, Proprietor, 17 14.0
Officials ,OFW, Official of the Executive Branches of
the Government, University College professor,
Psychiatrist, Lawyer, Doctor, Teacher)
Category II (Semi-Professional or Lower Professional 6 5.0
Proprietor of Medium Sized Business, Business
manager of the large concerns)
Category III (Administrative Personnel, Small 13 10.7
Independent Business)
Category IV(Clerical and Sales, Wash Technician like 42 34.7
Bookkeeper, Salesclerk, Driver, Farmer, Telling their
own land)
Category V (Skilled Manual Employer like Chef, 9 7.4
Trained Tailors, Barbers, Dressmakers)
Category VI( Unskilled Employees like Cleaners, 21 17.4

Garbage Collectors, Wood choppers, Laborers)
Category VII (Jobless) 13 10.7
Total 121 100.0
Frequenc
Parent's Occupation (Mother) y Percent
Category I (Higher Executive, Proprietor, 40 33.1
Officials ,OFW, Official of the Executive Branches of
the Government, University College professor,
Psychiatrist, Lawyer, Doctor, Teacher)
Category II (Semi-Professional or Lower Professional 7 5.8
Proprietor of Medium Sized Business, Business
manager of the large concerns)
Category III (Administrative Personnel, Small 10 8.3
Independent Business)
Category IV(Clerical and Sales, Wash Technician like 9 7.4
Bookkeeper, Salesclerk, Driver, Farmer, Telling their
own land)
Category V (Skilled Manual Employer like Chef, 4 3.3
Trained Tailors, Barbers, Dressmakers)
Category VI( Unskilled Employees like Cleaners, 2 1.7
Garbage Collectors, Wood choppers, Laborers)
Category VII (Jobless) 49 40.5
Total 121 100.0
Frequenc
Family's Monthly Income y Percent
10,000 and below 46 38.0
10,001-15,000 24 19.8
15,001-20,000 14 11.6
20,001 and above 37 30.6
Total 121 100.0
Frequenc
Birth Order y Percent
First Born 47 38.8
Second Born 41 33.9
Third Born 23 19.0
Fourth Born 6 5.0
Fifth Born 1 0.8
Sixth Born 3 2.5
Total 121 100.0
Frequenc
Daily Allowance y Percent
50 and below 24 19.8
51-100 50 41.3
101 -150 33 27.3

151 and above 14 11.6
Total 121 100.0
Number of Finance Related Trainings/Seminars Frequenc
Attended y Percent
0-2 109 90.1
3-5 12 9.9
Total 121 100.0
On Parent's Occupation. Most (42 or 34.7 %) of the father’s occupation of
the Grade 12 ABM students belongs in Category IV which are Clerical and Sales,
Wash Technician like Bookkeeper, Salesclerk, Driver, Farmer, Telling their own
land) and nearly half (49 or 40.5 %) of the mother’s occupation of the respondents
belongs in Category VII, which are Jobless. In contrast, the least numbered (6 or
5.0%) of the respondent’s father’s occupation is in Category II (Semi-Professional or
Lower Professional Proprietor of Medium Sized Business, Business manager of the
large concerns) and the least numbered (2 or 1.7 %) for the Grade 12 ABM Student’s
mother’s occupation belongs to Category VI who are those Unskilled Employees like
Cleaners, Garbage Collectors, Wood choppers, Laborers.
On Family's Monthly Income. For the family’s monthly income of the
respondents, 46 or 38.0 % of the respondent’s family’s monthly income is 10,000 and
below making it the highest populated category out of all four (4) options. This
follows the family’s monthly income of 20,001 and above with the frequency of 37
or 30.6%. On the other hand, family’s monthly income of 15,001 -20,000 bracket
ranks last with frequency of 14 or 11.6%.
On Birth Order. The highest frequency (47 or 38.8 %) of birth order of the
respondents belongs to First Born Grade 12 ABM Students, this follows Second Born
respondents with the frequency 41 or 33.9%. Meanwhile, the birth order “Fifth Born”
ranks last which is 1 or 0.8%.
On Daily Allowance. For the daily allowance of the respondents, 51-100 got
the highest frequency, which is 50 or 41.3%. In contrary, the least numbered
allowance bracket is 151 and above with only 14 or 11.6% out of all the 121 Grade
12 ABM students that served as the respondents.
On Number of Finance Related Trainings/Seminars Attended. Majority of
the respondents (109 or 90.1%) attended a 0-2 number of finance related
trainings/seminars. While the remaining (12 or 9.9%) respondents attended a range of
3-5 finance related trainings/seminars.
Problem 2. What is the level of financial literacy among Grade 12 ABM
students in terms of:
a. Spending Habits,
b. Saving Habits,
c. Budgeting Habits, and
d. Borrowing Habits
A. Spending Habits
Table 3 illustrates item mean ratings on the level of financial literacy of the grade
12 ABM students in spending habits.
Table 3. Item mean ratings on the level of financial literacy of the Grade 12
ABM Student in terms of Spending Habits.
Statements Mean DR
1. I don’t do impulse buying. 3.78 A

2. I think thoroughly before buying something. 4.30 SA
3. I determine what I should prioritize in buying. 4.34 SA
4. I usually buy something on sale, to lessen my 4.33 SA
expenses.
5. I spend my money on my needs more often. 4.29 SA
Overall Mean 4.32 Very High
Legend:
4.21-5.00 Strongly Agree (SA) Very High
3.41- 4.20 Agree (A) High
2.61-3.40 Neutral (N) Fair
1.81-2.60 Disagree (D) Low
1.00- 1.80 Strongly Disagree (SD) Very Low
Five (5) items were used to measure the level of the respondent’s spending
habits. Among these items, item 3 “I determine what I should prioritize in buying.”
bears the highest mean with 4.34 and is indicated as “Strongly Agree”. In contrast,
item 1” I don’t do impulse buying.” scored the lowest mean of 3.78, which indicated
as “Agree”. As a result, Grade 12 ABM Students have “Very High” level of
spending habits, with the overall mean of 4.32. This only means that most of the
respondents are doing well in managing and doing a smart action when it comes to
spending their money.
In connection, According to Reiszel (2020), developing smart and good
spending habits takes time, but having those entails such endless benefits, not only in
the present but also in the future, and as early as now, especially students, should
develop good spending habits that will eventually benefit themselves.
B. Saving Habits
Presented in Table 4 are the item mean ratings on the level of financial literacy of
the Grade 12 ABM Student in terms of Savings Habits.
ABM Student in terms of Savings Habits.
Statements Mean DR
1. It is important for me to save money. 4.65 SA
2. I am saving regularly. 4.01 A
3. I set aside some money from my allowance. 4.28 SA
4. I save money when I want to purchase 4.37 SA
something.
5. I keep track of my savings. 4.18 A
Legend:
As posted in the table, the Grade 12 ABM Students gave an overall mean
rating of 4.29 on the level of their financial literacy in terms of Saving Habits and is
interpreted as “Very High”. This indicates that the Grade 12 Accountancy, Business
and Management (ABM) students in Ilocos Sur National High School (ISNHS) have
very high level in terms of saving habits, and in connection to this finding, a study
conducted by Montecillo (2015) had concluded that those people who have saving
habits are more likely to have money left after paying those expenses incurred for
their basic necessities every month, who’s less likely to borrow, and less to prone of
overspending on something.
Distinctively, item number 1 “It is important for me to save money.” bears the
highest mean rating with a score of 4.65 that is interpreted as “Strongly Agree”. This
indicates that saving money is indeed an important habits to do according to most of
the respondents. However, item number 2 “I am saving regularly.” got the lowest
descriptive rating with “Agree” with the mean score of 4.01.
C. Budgeting Habits
Table 5 below presents the item mean ratings of the Grade 12 ABM in Budgeting
Habits.
ABM Student in terms of Budgeting Habits.
Statements Mean DR
1. I do budgeting before purchasing something. 4.36 SA
2. I regularly monitor my savings and expenses. 4.12 A
3. I do budgeting to avoid overspending. 4.22 SA
4. I properly manage all of my expenses. 4.15 A
5. I always make sure that I have an up-to-date 3.93 A
budget plan.
Overall Mean 4.16 High
Legend:
As reflected in the table 5 above, the level of financial literacy in terms of
Budgeting Habits of the Grade 12 ABM Students have an overall mean rating of 4.16
and is interpreted as “High”. This indicate that the respondents have a high level of
financial literacy when it comes to budgeting. The results shows that the respondents
can somewhat budget their money when spending as well as to managing their
expenses.
When taken singly, the item that got the highest mean score of 4.36 in this
category is item 1 “I do budgeting before purchasing something.” and is interpreted
as “Strongly Agree”. The mean indicates that most of the respondents strongly
agreeing that they do budgeting before their purchase something. While item 5,” I
always make sure that I have an up-to-date budget plan.” got the lowest mean score
of 3.93 and is interpreted as “Agree”.
In connection, according to Ibrahim et al., 2009, having a budget habits play
an important role in student’s daily lives because students' spending habits on their
respective schools will influence the way they budget their finances throughout their
lives. In addition, if students have the idea of budgeting their finances, there will be
less percentage that they overspend in buying something, and less likely to borrow
money with their peers or family members (Cummins et al., 2009).
D. Borrowing Habits
Presented below is the table 6 below that presents the item mean ratings of the
Grade 12 ABM students in borrowing habits.
ABM Student in terms of Borrowing Habits.
Statements Mean DR
1. Before borrowing money, I always examine 4.27 SA
my financial situation first.
2. I only borrow money that I can afford to pay. 4.36 SA
3. I always go for good debt than bad debt. 4.25 SA

4. I borrow money for practical purposes. 4.04 A
5. I always repay the money I borrow on time. 4.42 SA
Legend:
The table above clearly manifest that the respondents gave an overall mean
rating score of 4.27 in their level of financial literacy in terms of borrowing habits
and is interpreted as “Very High”. This only indicates that the respondents have a
very high level of financial literacy in terms of borrowing habits, and they utilized a
good borrowing habits.
When taken singly, item 5 “I always repay the money I borrow on time.”
ranks first bearing the highest mean of 4.42 and described as “Strongly Agree”.
However, item 4” I borrow money for practical purposes.” bears the lowest mean
score of 4.04 and is interpreted as “Agree”.
According to Homan (2016), he stated in his study that borrowing money is
not always a sign of bad financial behavior; rather, this is a smart way when it comes
to such financial decisions. He also added that, “individuals borrow money for
instance to make stable and expensive purchases and to protect themselves against
unexpected events.”
Problem 3. Is there a significant relationship between the personal profile of the
Grade 12 ABM students with their level of financial literacy?
Table 7 shows the personal profile of the Grade 12 Accountancy, Business
and Management (ABM) students of Ilocos Sur National High School (ISNHS)
which are correlated with their level of financial literacy.
Spending Savings Budgeting Borrowing

Variables Habits Habits Habits Habits
Sex .068 .123 -.010 .163
Age -.018 .003 -.096 .015
Place of Residence -.229* -.096 -.053 -.038
Parent’s Occupation (Father) -.005 -.003 .189* .009
Parent’s Occupation -.006 -.036 -.046 -.054
(Mother)
Family’s Monthly Income -.005 -.015 -.128 -.075
Birth Order .084 .165 .011 .005
Daily Allowance .086 .073 -.014 .149
Number of Finance Related -.070 .024 -.071 -.046
Trainings/Seminars Attended
Table 7. Correlation Coefficient between the Personal Profile of the
Respondents and their Level of Financial Literacy
Legend:
*. Correlation is significant at the 0.05 level (2-tailed).
**. Correlation is significant at the 0.01 level (2-tailed).
The table clearly revealed that place of residence of the Grade 12 ABM
Students is found to have a significant relationship with the respondent’s level of
financial literacy in terms of spending habits as indicated by the correlation-
coefficient of -.229, which is significant at 0.05 level. This indicate that on the type
of place that the respondent’s resides, this serve as significant factor that influence
their level of financial literacy in terms of spending habits. Similar with this finding,
a study regarding Spending Habits conducted by Saravanan and Devakinandini
(2014), in their study they examine how socio-economic status influences the
spending habits of youth with their pocket money, and its result was that, the society
that respondents they belong influences their spending habits or on how they spend
their financial resources.
Furthermore, according to Juneja (2015), one of the factors that influence
consumer behavior or purchasing/spending habits is cultural factors, specifically sub-
culture factors, which include the geographical location of the consumer/individual,
which can be their place of residence.
In addition, level of financial literacy in terms of budgeting habits of the
Grade 12 ABM students is found to be significantly correlated with their father’s
occupation at significant level of 0.05 as indicated by the correlation-coefficient of
.189. The result indicates that the parent’s occupation, father’s occupation to be
specific, of the Grade 12 ABM Students, has significant relationship with the
level of their financial literacy in terms of spending habits. In connection with this
finding, according to Furnham, (1996); Kirkcaldy & Furnham( 1993); Colcagno
&Monticone, 2011), father’s affluence, accumulating from what type of job they
have, influences their children to have more money management skills, and that
includes how they budget their own finances, that serve as a lifelong learning that
they can carry from their childhood lives into adulthood.
Chapter III
SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS
This chapter presents the summary of the study, the findings and conclusions
drawn with the findings as well as the recommendations.
Summary
This study aimed to determine the level of financial literacy among Grade 12
ABM Students who are currently enrolled in Ilocos Sur National High School, Senior
High School for the First Semester, SY 2021-2022. The respondent’s personal profile
that were utilized are limited to sex, age, place of residence, parent’s occupation,
family’s monthly income, birth order, daily allowance and lastly, number of finance
related trainings/seminars attended by the chosen respondents coming from the 12th
Grade academic track, Accountancy, Business and Management (ABM) strand.
Out of the total population of Grade 12 ABM strand in ISNHS, only 121
students were chosen as sample of this study. Moreover, descriptive correlation
method of research was used.
Furthermore, the use of questionnaire was utilized to gather the needed data
for this study. This questionnaire consist of two (2) parts. Part I includes the personal
profile of the respondents, while Part II consist the determinants that were utilized to
determine the level of financial literacy of the Grade 12 ABM students, which are the
Spending Habits, Saving Habits, Budgeting Habits, and Borrowing Habits.
Moreover, the questionnaire were disseminated online using online google
form through the respective group chats that were created on four (4) sections of the
Grade 12 ABM students in ISNHS.

Lastly, the data gathered, were treated using different statistic tool such as
frequency count and percentage, mean, and simple correlation analysis.
Findings
1. Personal Profile of the Grade 12 ABM Students
Based on the data gathered, tabulated, analyzed and interpreted, the following
findings were drawn based on the personal profile of the respondents:
On Sex. Majority (95 or 78.5%) of the respondents were female and the least
numbered were male with a total of 26 (21.5%).
On Age. Most (79 or 65.3%) of the Grade 12 ABM students are ages 17 years
old , following are those respondents (39 or 32.2%) ages 18 years old. The
respondents also consist of 2 or 1.7 % 16 years old and the least numbered
respondents (1 or 0.8%) belongs to the age 22 years old.
On Place of Residence. Based from the data gathered, 71 or 58.7% of the
respondents resides in Rural places, while the remaining (50 or 41.3%) resides on
Urban places.
On Parent’s Occupation. With regards to the father’s occupation of the
respondents, the highest frequency (42 or 34.7%) belongs to Category IV which are
the Clerical and Sales, Wash Technician like Bookkeeper, Salesclerk, Driver, Farmer,
Telling their own land, while the least frequency belongs to Category II which are the
Semi-Professional or Lower Professional Proprietor of Medium Sized Business,
Business manager of the large concerns). For the respondent’s mother’s occupation,
most (49 or 40.5 %) of them are in Category VII (Jobless). On the other hand,
Category VI (Unskilled Employers like Cleaners, Garbage Collectors, Wood
Choppers, and Laborers) ranks the lowest with a total respondents of 2 or 1.7%.
On Family’s Monthly Income. For the family’s monthly income of the
respondents, 46 or 38.0 % of their family’s monthly income is 10,000 and below
making it the highest populated category out of all four (4) options. On the other
hand, family’s monthly income of 15,001 -20,000 bracket ranks last with frequency
of 14 or 11.6%.
On Birth Order. Among the 121 Grade 12 ABM Students, 47 or 38.8% of
them are First Born in their family, making it as the highest frequency among other
category of birth order of the Grade 12 ABM students. Meanwhile, the birth order
“Fifth Born” ranks last with only 1 or 0.8% respondent.
On Daily Allowance. Nearly half (50 or 41.3%) of the respondent’s allowance
belong to the daily allowance bracket of 51-100, making the highest frequency out of
all other indicators. In contrary, the least numbered allowance bracket is 151 and
above with only 14 or 11.6%
On Number of Finance Related Trainings/Seminars Attended. Majority of the
respondents (109 or 90.1%) attended a 0-2 number of finance related
trainings/seminars. While the remaining (12 or 9.9%) respondents attended a range
number of 3-5 finance related trainings/seminars.
2. Level of Financial Literacy among Grade 12 ABM Students

On Spending Habits. Based from the data gathered, the Grade 12 ABM
Students level of financial literacy in terms of spending habits have an overall mean
rating of 4.32 and interpreted as “Very High”
When taken singly, item 3 “I determine what I should prioritize in buying.”
bears the highest mean with 4.34 and is indicated as “Strongly Agree”. In contrast,
item 1” I don’t do impulse buying.” scored the lowest mean of 3.78, which indicated
as “Agree”.
On Saving Habits. The respondents gave an overall mean rating of 4.29 on
the level of their financial literacy in terms of Saving Habits and is interpreted as
“Very High”.
When taken individually, item number 1 “It is important for me to save
money.” bears the highest mean rating with a score of 4.65 that is interpreted as
“Strongly Agree”. Although, item number 2 “I am saving regularly.” got the lowest
descriptive rating of “Agree” with the mean score of 4.01.
On Budgeting Habits. Basing from the data gathered, it was found out that
the level of financial literacy in terms of Budgeting Habits of the Grade 12 ABM
Students have an overall mean rating of 4.16 and is interpreted as “High”.
Distinctively, the item that got the highest mean score of 4.36 in this category
is item 1 which is the statement “I do budgeting before purchasing something.” and is
interpreted as “Strongly Agree”. While item, 5,” I always make sure that I have an
up-to-date budget plan.” got the lowest mean score of 3.93 and is interpreted as
“Agree”.
On Borrowing Habits. The data gathered clearly manifest that the
respondents gave an overall mean rating score of 4.27 in their level of financial
literacy in terms of borrowing habits and is interpreted as “Very High”
When taken singly, item 5 “I always repay the money I borrow on time.”
ranks first bearing the highest mean of 4.42 and described as “Strongly Agree”.
However, item 4” I borrow money for practical purposes.” bears the lowest mean
score of 4.04 and is interpreted as “Agree”.
3. Relationship between the personal profile of the Grade 12 ABM Students and
their level of financial literacy.
Based from the data gathered by the researchers, it was revealed that place of
residence of the Grade 12 ABM Students is found to have a significant relationship
with the respondent’s level of financial literacy in terms of spending habits at
significance level of 0.05 as indicated by the correlation-coefficient of -.229, which is
significant at 0.05 level.
Plus, father’s occupation of the respondents is also found to be significantly
correlated with their level of financial literacy in terms of budgeting habits as
indicated by the correlation-coefficient of .189, at significant level of 0.05
Conclusions
After a careful and vigilant analysis and interpretation of data, the following
conclusions are presented on the following:
1. Majority of the respondents are female, most are 17 years old, resides in rural
places, father’s occupation belongs to Category which are the Clerical and
Sales, Wash Technician like Bookkeeper, Salesclerk, Driver, Farmer, Telling
their own land, mother’s occupation belongs to Category VII (Jobless), a first
born in their families, family’s monthly income belongs to 10,000 and below,
and have a daily allowance ranging from 51-100.
2. Majority of the Grade 12 ABM Students attended a number of finance related
training/seminars ranging from 0-2.
3. The respondents gave an overall description of “High” in their level of
financial literacy in terms of budgeting habits.
4. The Grade 12 ABM Students gave an overall description of “Very High” in
their level of financial literacy in terms of Spending Habits, Saving Habits,
and lastly, Borrowing Habits.
5. There is a significant relationship between the personal profile of the Grade
12 ABM students with their level of financial literacy.
Recommendations
Based on the findings and conclusions drawn, the following recommendations
are forwarded for consideration:
1. The Grade 12 ABM students, which serve as the respondents, should continue
utilizing their habits in spending, saving, budgeting, and borrowing to better
manage and utilize their financial resources.
2. Since the study focuses only in one strand (ABM Strand) which is its limitation,
future researchers and researches who will conduct with the same study, may
widen the coverage of its researcher which may be applied to all Track/Strand of
Senior High School (SHS).
3. Another study should be conducted and continue this study to determine the
factors affecting Level of Financial Literacy of an individual. Respondents of it
can be students.
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APPENDICES
Appendix A
Letter to the Principal
Appendix B
Letter to Validators and Validation Form

Appendix C
Letter to Respondents
Appendix D
Questionnaire
“Determinants of Financial Literacy among Grade 12 ABM Students”
Research Questionnaire
Directions: This questionnaire is designed to find out relevant information about the
topic. Please respond to the questions objectively. The information you supply will
be for the purpose of this study.
Part I. Personal Profile
Name: (optional)
Age:
16
17
18
Others (Specify): _______
Sex:
Male
Female
Place of Residence:
Rural
Urban
Parent’s Occupation (Father):
Specify:
Parent’s Occupation (Mother):
Specify:
Family’s Monthly Income:

10,000 and below
10,001-15,000
15,001-20,000
20,001 and above
Birth Order:
First Born
Second Born
Third Born
Fourth Born
Others (Specify):________
Daily Allowance:
50 and below
51-100
101 -150
151 and above
Number of Finance Related Trainings/ Seminars Attended:
0-2
3-5
6 and above
Part II: Level of Financial Literacy of the Respondents

Instruction: Please indicate your level of agreement by checking under the column
of your answer on the following statements in the box below. Thank you!
Measuring Scale:
5 –Strongly Agree (SA)
4-Agree (A)
3-Neutral (N)
2-Disagree (D)
1-Strongly Disagree (SD)
Determinants SA A N S SD
(5) (4 (3) (2 (1)
) )
I. Spending Habits
1. I don’t do impulse buying.
2. I think thoroughly before buying something.
3. I determine what I should prioritize in buying.
4. I usually buy something on sale, to lessen my
expenses.
5. I spend my money on my needs more often.
II. Saving Habits
1. It is important for me to save money.
2. I am saving regularly.
3. I set aside some money from my allowance.
4. I save money when I want to purchase
something.
5. I keep track of my savings
III. Budgeting Habits
1. I do budgeting before purchasing something.
2. I regularly monitor my savings and expenses.
3. I do budgeting to avoid overspending.
4. I properly manage all of my expenses.
5. I always make sure that I have an up-to-date
budget plan.
IV. Borrowing Habits
1. Before borrowing money, I always examine
my financial situation first.
2. I only borrow money that I can afford to pay.
3. I always go for good debt than bad debt.
4. I borrow money for practical purposes.
5. I always repay the money I borrow on time.
THANK YOU AND GOD BLESS!
Appendix E
Documentation
CURICCULUM VITAE
CURRICULUM VITAE
Personal Profile
Name : JESSABELLE R. AGAPINAN
Permanent Address : Malingeb, Bantay, Ilocos Sur
Date of Birth : June 6, 2004
Civil Status : Single
Citizenship : Filipino
Religion : Roman Catholic

Parents : Mr. Joseph F. Agapinan
Mrs. Claire R. Agapinan
Educational Background
Elementary : Ora East Elementary School

Ora East, Bantay, Ilocos Sur
S.Y. 2015-2016
Secondary
Junior High School : Ilocos Sur National High School

Gomez St., Barangay VII, Vigan City
S.Y. 2019-2020
Senior High School : Ilocos Sur National High School

Accountancy, and Business Management
S.Y. 2021-2022
CURRICULUM VITAE
Personal Profile
Name : JOSEPH P. DOMENDEN
Date of Birth : March 26, 2004
Parents : Mr. Materno L. Domenden

Mrs. Anacel P. Domenden
Elementary : Malingeb Elementary School

Malingeb, Bantay, Ilocos Sur
S.Y. 2015-2016
Secondary

S.Y. 2019-2020

S.Y. 2021-2022
CURRICULUM VITAE
Personal Profile
Name : HAIZEL FAITH C. PATUBO
Date of Birth : July 14, 2004
Parents : Mr. Richard P. Patubo

Mrs. Zenaida C. Patubo
Elementary : Malingeb Elementary School

Malingeb, Bantay, Ilocos Sur
Valedictorian
S.Y. 2015-2016
Secondary

With Honors
S.Y. 2019-2020

S.Y. 2021-2022
CURRICULUM VITAE
Personal Profile
Name : ALELI JOY D. PIÑON
Date of Birth : March 12, 2004
Parents : Mr. Ben P. Piñon

Mrs. Evelyn D. Piñon
Elementary : Tay-ac Elementary School

Tay-ac, Bantay, Ilocos Sur
S.Y. 2015-2016
Secondary

S.Y. 2016-2019
Divine World College of Vigan
Burgos Street, Barangay II, Vigan City
S.Y. 2019-2020

S.Y. 2021-2022

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ILOCOS SUR NATIONAL HIGH SCHOOL – SENIOR HIGH SCHOOL i

DETERMINANTS OF FINANCIAL LITERACY AMONG GRADE 12 ABM

In Partial Fulfillment of the

Haizel Faith C. Patubo

Aleli Joy D. Piñon

This qualitative research entitled, “DETERMINANTS OF FINANCIAL

LITERACY AMONG GRADE 12 ABM STUDENTS” prepared and submitted by

P. Domenden, in partial fulfillment of the requirements for the subject, Practical

recommended for acceptance and approval for Oral Examination.

Mr. Gilbert Tabucol

Mrs. Joanne S. Taculog

Accepted and approved in partial fulfilment of the requirements for the

subject, Practical Research II, First Semester, School Year 2021-2022.

RICKY F. BOSQUE, Ed. D.

RODRIGO Q. REYES JR.

“People are blessings from God to us…”

Mrs. Editha C. Bagcal, Principal IV of Ilocos Sur National High School

the team conduct this study;

and Management (ABM), Science, Technology, Engineering and Mathematics

(STEM) Strand, for his fatherly concern, advices and support;

Mr. Jeffrey B. Roberonta, class and research adviser as well as statistician,

their recommendations, technical assistance and suggestions in enriching the quality

of this research paper;

questionnaire which provided the needed data for this research ;

reaching their aspirations;

researcher will not be having this far.

To our dearest parents,

To our sisters, brothers, and friends,

To our beloved teachers, classmates and schoolmates,

Lastly, we dedicate this work to ourselves,

delimited to sex, age, place of residence, parent’s occupation, family’s monthly

attended. Specified determinants were used to determine the Level of Financial

Habits, and Borrowing Habits. Descriptive-correlational research design research

constructed by the researchers that was disseminated digitally to follow implemented

Out of 174 Grade 12 Accountancy Business and Management (ABM) students

this study, which was determine by the Slovin’s Formula.

simple correlation analysis.

ABM Students attended a number of finance related training/seminars ranging from 0-

2; The respondents gave an overall description of “High” in their level of financial

description of “Very High” in their level of financial literacy in terms of Spending

level of financial literacy.

determine the factors affecting Level of Financial Literacy of an individual.

Respondents of it can be students.

Chapter I: The Problem Introduction....………………………………...

……………………..………………1 Statement of the Problem…….

Significance of the study……………………………………………….……………. 5

Scope and Delimitation…………….…………...….………………………….……...5

Review of Related Literature……………………………………………………….6

Operational Definition of Terms………………………………………….....…......14

Population and Sample…………………………………….……………………....16

Data Gathering Instrument …………………...…………………..………………...17

Data Gathering Procedure………………………………………………..…………18

Statistical Treatment of Data……………………………………………….……....18

Chapter II: Presentation, Analysis, and Interpretation Of Data

Chapter III: Summary, Conclusions, and Recommendations

Table 1. Distribution of Respondents..................................................................….....17

Table 2. Personal Profile of the Grade 12 ABM Students…………………...............21

Student in terms of Spending Habits…………………………………………………24