CHAPTER 1

INTRODUCTION

Situational Analysis
"Money is power, but financial education is more powerful"
Financial Literacy is the ability to understand how money works in the world and
taken informed as well as a judicious decision with regard to all financial activities. A
person who is financially literate knows how to earn, manage and invest money. He is
familiar with financial products and applies his knowledge to make the best
use of them. Recent developments have made financial education and awareness
increasingly important for financial well being.
Being financial literate or good in budgeting skilled in handling your money, being
able to manage your expenses properly and other skills regarding financial matters is
very important. We must be equipped with this skills as a student for us to be ready in
the future. This is the reason why we want to study how financial literate are senior
high school students.
We observe that some are reckless buyers. One of the common mistakes of students
in handling their finances is not determining wants vs needs ( newsroom.unl.edu).
Some have problems or difficulty in handling their money. So we decided to conduct
this study to determine whether our students is ready in life and also to help aspect
could they provide something to help students.
Some of student works part time for the weekend. Some even have to skip school
because they lack financial resources. Other spend their money impulsively. This
behavior of students inspired us researcher to study financial literacy and financial
behavior.
The purpose of this research is to
a. Identify how financial literate senior high school students of Sto. Rosario
National High School are
b. Is there a significant relationship between relationship between their level of
financial literacy.
We would want to make this research as accurate as it can be, for it serve its
purpose.
Theoretical Framework
Heuristic Theory (Tversky and Kahneman 1974)
Heuristics are mental shortcuts that can facilitate problem-solving and probability
judgments. These strategies are generalizations, or rules-of-thumb, reduce cognitive
load, and can be effective for making immediate judgments, however, they often result
in irrational or inaccurate conclusions. Heuristics are a subfield of cognitive psychology
and behavioral science. They are shortcuts to simplify the assessment of probabilities in
a decision making process. Initially, they dealt with cognitive biases in decision making,
and then encompassed emotional factors. Heuristics are mental shortcuts for solving
problems in a quick way that delivers a result that is sufficient enough to be useful
given time constraints. Investors and financial professionals use a heuristic approach to
speed up analysis and investment decisions.
“Heuristics are simple efficient rules of the thumb which have been proposed to
explain how people make decisions, come to judgments and solve problems, typically
when facing complex problems or incomplete information. These rules work well under
most circumstances, but in certain cases lead to systematic cognitive biases” – Daniel
Kahneman (Parikh, 2011).Tversky and Kahneman identified the influence of human
heuristics on the decision making process. Tversky defined heuristic as a strategy,
which can be applied to a variety of problems, that usually–but not always–yields a
correct solution. People often use heuristics (or shortcuts) that reduce complex problem
solving to more simple judgmental operations (Tverskyand Kahneman, 1981).
Heuristic decision process is the process by which the investors find things out for
themselves, usually by trial and error, lead to the development of rules of thumb. In
other words, it refers to rules of thumb, which humans use to made decisions in
complex, uncertain environments (Brabazon, 2000). Man is not capable to process all
the information that one is presented with on a daily basis. While accumulating
experience through the process of doing something, those experiences gives an
impression of how something works. This process creates rules of thumb that can then
be used when a similar situation is encountered. This phenomenon is called the use of
heuristics. This is especially relevant in modern trading, when the number of
instruments and the density of information have increased significantly. Using heuristics
allows for speeding up of the decision making compared to rationally processing the
presented information. The most attractive aspect of this is the time that can be saved
while the main drawback is the dependence on previous experience.
Theory (Amos Tversky and Daniel Kahneman, 1979)
The prospect theory holds that individuals are more influenced by the possibility of a
loss than the prospect of an equivalent gain (Tversky & Kahneman, 1981). Moreover,
while a probabilistic deprivation is favored over a sure deprivation, a definite gain is
preferred to a probabilistic gain. It describes how people evaluate their losses and
acquire insight in an asymmetric fashion. Unlike the expected utility theory which
models the decision making of perfectly rational agents, the prospect theory aims to
describe the actual conduct of individuals, and finds application in behavioral finance
and economics. Prospect theory is a theory in behavioral economics that attempts to
describe, mathematically, how people’s decisions are influenced by their attitudes
toward risk, uncertainty, loss, and gain.
Kahneman and Tversky developed prospect theory to account for people's decision-
making under risk through a series of controlled "lottery" experiments.
The prospect theory challenges the expected utility theory of decision-making, which
suggests that people make decisions by calculating the utility (or value) of each possible
option. Namely, it accounts for two key human biases in decision-making: loss aversion,
and the tendency to weight lower-probability outcomes more heavily than high-
probability outcomes.
Prospect theory suggests that people make decisions based on the perceived outcomes
of those options, rather than the actual utilities.
Prospect theory has been found to be a more accurate model of human decision-
making than the expected utility theory, and has been largely lauded by the economics
and psychology communities, despite its limitations. Its applications range from
international relations to whether or not to buy insurance.
First, it assumes that people are more concerned with avoiding losses than they are
with achieving gains. This is known as loss aversion.
Second, it assumes that people view gains and losses relative to a reference point,
which is usually their current situation. This means that people are more likely to take
risks to avoid losses than they are to make gains.
Finally, prospect theory assumes that people have a hard time evaluating probability
accurately, and in most cases they tend to overestimate the likelihood of low-probability
events and underestimate the likelihood of high-probability events.
Utility Theory (Daniel Bernoulli and Gabriel Cramer)
Utility theory is based on the value or worth that is attributed to a certain good or
service. It captures the usefulness and satisfaction found in using something. Total
utility defines the aggregate amount of gain there is to be found in the purchase of a
good or service.
Abstract measurement is the way in which utility is measured. The four basic
assumptions of utility theory are that a customer can rank any number of given options,
more total utility is always better than less, a mix of goods is better than a set of one
good, and customers are rational decision makers. Cardinal utility is a quantitative
approach to measuring utility that expresses utility as a number. Ordinal utility
compares the utility of one good or service against another. Applications of the theory
extend to how higher utility leads to higher processes, how the indifference curve
allows for product substitution, and how utility models can help businesses decide on
the best possible price for a product or service. Limitations to the theory include the
fact that consumers aren't completely rational, and the theory doesn't fully compensate
for income, substitution, and price effect.
Profile of the framework/Research
Conceptual 1.Browse information
Paradigm
respondents on the internet or
INPUT booksPROCESS
that is related OUTPUT
a). Age
to the topic.
b). Sex
2.Analyze the
c). Strand information gathered.
Economic Status 3.Construct a
questionnaire.
A). Daily allowance
4.Check the validity of
B). Estimated family
the questionnaire.
income.
5.Revise the The Financial
C). Daily expenses. Literacy of Senior
questionnaire.
High School
6.Floate the Students of Sto.
Questionnaire. questionnaires to the Rosario National
respondents. High School, S.Y
7.Collect/Retrieve the 2022-2023.
questionnaires.
8.Organize the
gathered data.
9.Statistical analysis
of the data and
interpretation.
10.Summarize the
findings.
11.Draw a conclusion.
12.Formulate a
recommendation.
 Statement of the Problem
This study aims to determine how financial literate senior high school students
are in Sto. Rosario National High School school year 2022-2023.

Specifically, it seeks to answer the following questions:

1. What is the profile of respondents in terms of:
a. sex?
b. age?
c. grade?
d. strand?
e. estimated family income?

2. What is the level of financial literacy of senior high school students in the following
areas:
spending Habit
a. spending habits?
b. saving Habits?
c. financial Knowledge?
d. budgeting?
e. earning?
f. investing?

3. Is there a significant relationship between the profile of the students and the level
of Financial Literacy?
Significance of the Study
The significance of the study would help the student of Sto. Rosario
National High School. The result of this study could highly significant and beneficially to
the following.

Department of education: If proven that the students lack in financial literacy,

DEPED could take the chance to identify where they could take the chance to identify
where they could provide some ways to help students.
School administrators They will be able to monitor and help the students by being
knowledgeable about financial literacy.
Parents: This study would serve as additional information to their basic knowledge
with regard to the financial management practices and will provide them awareness on
proper usage.
Students: This study may provide them with a clear picture on how to manage their
financial resources and to become financial literate with regard to financial management
practices.
Future researcher: This study can be reference to future researchers. It will serve as
guide to those who will pursue research on the same field.

Scope and Delimitation

This study focuses on how financial literate are the senior high school students of
Sto. Rosario National High School in the school year 2022-2023. This study is limited in
finding out the students financial literacy in the aspect of budgeting, saving habits,
financial knowledge, earning, and investing. The research will be conducted at Sto.
Rosario National High School. The respondents will be senior high school students
(grade 11 and 12). The school year 2022-2023
DEFINITION OF TERMS
Literate. Understanding financial concepts, such as budgeting, saving and investing,
and knowing how to spend money properly.
Allowance. An amount of money that is given to someone regularly or for a specific
purpose.
Savings. The money you set aside to cover future planned or unexpected expenses.
Budget. A plan of how to spend an amount of money over a particular period of time.
Money. Something (such as coins or bills) used as a way to pay for goods and
services.
Expense. The amount of money that an individual spent in a period of time.
Spend. To use money to pay for goods and services.
Amount. A quantity of something, typically the total of a thing or things in number,
size, value, or extent.
Wants. Something you want to but don't necessarily need.
Needs. Something you must have.
Investment. Something you put your personal money/resources in, in hopes of having
a return on investment.
Finance.
 CHAPTER 2
REVIEW OF RELATED LITERATURE

Financial behavior of individuals is essential but difficult to understand, define and

measure. There are many ways the spending habits of students may vary. It can vary
due to personal demographics and school environment. Even in today’s web-driven
shopping environment, the old norm that women love shopping more than men still
applies (Karr, 2012). Spending habits may also differ in terms of an individual's family
and personal income. Lowincome Americans spend a significantly more significant
proportion of their money on housing, whereas high-income earners spend a much
higher portion on insurance and retirement expenses (Morrell & Kiersz, 2017).
A similar research by Samantha Villanueva (2017) namely An Analysis of the
Factors Affecting the Spending and Saving Habits of College Students takes into
account the variables of class year, gender and ethnicity in one model, the Permanent
Income Hypothesis and Hyperbolic. Discounting in a separate model, to examine the
spending and saving behaviors among college students. Although it states that the
previously mentioned variables have primarily influenced financial behavior, there has
been little to no action done to examine the role of the different theories stated. A
study was done last 2017 namely; Effect of Demographic Factors on Consumer
Behavior: Age, sex, Income and Education by Abhijeet Pratap concludes that the factors
sex, age, income, and education directly affects the consumer behavior of an individual.
It states that while preferences change with age and level of education, sex and income
also affect product choices and decision-making patterns. A study conducted in
Malaysia by Muhammad Albeerdy and Behrooz Gharleghi (2015) concluded that the
factors education, financial socialization agents and money attitude have a direct
influence on financial literacy rates among Malaysian students. Furthermore, based on
their results it was education that proved to be the most influential factor among the
three. Managing personal costs is shown to be a growing issue especially among
students today. Current literature explores the factors that influence both financial
habits and financial literacy of students. This research will focus mainly on the
expenditures and spending habits among senior high school students to shed light in a
different population as most researches in this field are conducted with college students
as their participants. (Villanueva, 2017). There have been many articles, studies, and
researches about the said topic among students all over the world, an example would
be Atie Nadome’s research about the “Spending Habits among Malaysian University
Students.” In this study, Atie Nadome (2014) explained that spending behavior has
never been stable, especially among university students because many of them are
experiencing independence for the first time.
Although in the Philippines most children are likely to still live with their parents during
senior high school and college years, their needs have drastically increased compared to
before. As of today, laptops, cellphones, internet connection, and even personal
vehicles have become essentials to students in attending and finishing their studies.
Thus, the spending habits of students today are bound to be significantly different from
the spending habits of students in the past. A study by Dr. Rekta Attri last 2012 namely
Spending and Saving Habits of Youth in the City of Indore addressed the question of
why, where and how the youth spend. The youths referred to here are of the age group
fourteen to thirty (14-30) years old. Despite being financially dependent on the parents
until the age of 25-26 years old, there is a big difference observed in the spending
behavior of the youth in India. The study concludes that there is a massive influence of
peer group in the youth below nineteen years while making purchase decisions. With
the maturity of the participants, this influence of friends and family decreases and he or
she relies more on evaluating product or service's features and characteristics and
hence makes an independent decision. A difference in the purchase behavior and their
saving habits is also observed genderwise. To summarize, this study showed that the
spending and saving habits of the youth in India are much affected by age and sex and
the influential factors as to why there are differences.
A study made by Dr. Saravanan and Devakinandini (2014) namely ‘A study on
Perception of College Students about Spending of Pocket Money With Reference To
Students Studying in Arts and Science Colleges in Coimbatore’ examines how the socio-
economic status can influence the expenditure of pocket money. Most of the young
people get attracted by the society, and they are spending their valuable money in the
wrong means. They should know the value of money and the right way of handling it.
According to Crystal Paine in her book “The Money Saving Mom’s Budget" (2012),
young adults should be taught on how to save and prioritize what is essential. The book
shows that people should learn how to say ‘no' when it is not crucial. To be able to save
efficiently, one must learn how to weigh what is essential versus what is irrelevant or
not needed. As the youth set out for college, many of these students are trusted
money, and one of the challenges they face is budgeting as they are on their own for
the first time. When it comes to students, money management is very unfamiliar.
Financial independence would be difficult to achieve and maintain for youths and others
in society (Ajide, 2015). The Wisconsin Hope Lab recently released a report last 2018
that looked at 43,000 students from 66 colleges, universities and community colleges
from 20 states and the District of Columbia. The survey found that 36 percent of
university students don't have enough money for enough food – and 42 percent of
community college students are hungry or not getting a balanced diet (Goldrick-Rab,
Richardson, Schneider, Hernandez, & Clare, 2018). Learning financial literacy is a
ssspromising way to improve financial capacity for today’s young people (Duquette,
2018). Students tend not to know what to value first, and they tend to spend it on
things that are not important. That is why, it becomes inevitable for people to
overspend when they buy things because they do not know how to prioritize the
significant ones (Paine, 2012). Not knowing what to prioritize is the time when financial
planning comes in. Based on the book "Financial Management” by Ferdinand L.
Timbang (2015), financialplanning is useful for both short-range and long-range plans.
Financial planning serves as a basis of the operations or the allocation of funds the
person has to undergo. Financial planning summarizes in one word: ‘budgeting.'
‘Financial literacy is both an important life skill and a critical intellectual competency'
and 'an essential component of a college degree.' (Kezar, & Yang, 2015). It is not
mandatory to be a professional to be a financial literate, but one needs to be a person
who can maximize present money to gain financial stability. Logically speaking, it is
necessary that students must learn how to handle money as they are expected to earn
at a later stage in their lives. A study by Acheampong, Kyei-Baffour, Hanson-Cobbinah,
& Osei, (2015), about the Assessment of Financial Literacy among University Students,
found out that almost half of the population surveyed is financially illiterate. One reason
for the low level of knowledge is the systematic lack of personal finance education in
the college curricula. Given the lack of financial education, it is not surprising that the
results show that university students have inadequate knowledge of personal finance.
Another research paper by Mohd Rahim Ariffin and Zunaidah Sulong (2017)
studies specifically, about the financial literacy level and students' perception towards
saving behavior of a population, showed that saving behavior, parental socialization and
peer influence had a positive correlation with financial literacy, whereas self-control
showed a negative correlation with financial literacy. In the Philippine economy, prices
of the commodities become higher, and money has gained more value today.
Additionally, there are little to no objects left that cannot be bought by money. It is why
it is essential to spend it wisely and to do so; one must have sufficient knowledge about
budgeting (De Guzman et al., 2012). A namely last 2013 namely: The Relation between
Financial Literacy, Financial Wellbeing and Financial Concerns that was done by a group
of researchers concluded that a positive relationship between the age and variables of
financial wellbeing and financial literacy, marital status and sex and the financial literacy
variable, and education level and financial well-being variable and financial literacy. It
has also stated that a higher level of financial well-being follows financial literacy
(Kalantarie-Taft, Zardeini-Hosein, & Mehrizi, 2013).
Financial illiteracy is a growing concern in both society and the economy. College
students, with the amount of money entrusted to them, are the main subjects of
unwise use of funds. To satisfy or solve the problem of financial illiteracy among
students, exposure to sessions, training, and workshops is necessary. They should be
able to gain internet access for it was found out that the internet is where most
students get their basis, knowledge, and understanding. A study done by The Money
Advice Service in 2017 said that: managing money is seen to be part of growing up,
and young adults are both excited and daunted by this. One in five young adults (22%)
of the said study say that they are not confident in managing their money. Financial
knowledge can start at homes. A book entitles “The Money Smart Family System”
shows how parents can teach their children how to save money. It also talks about how
each child differs from one to another. The book states that some children love to
spend freely, but some people would rather watch as their savings grow. Despite the
unique traits of each other child, the book states that it is possible to educate them with
financial knowledge (Economides & Economides, 2012). The study on financial literacy
has continued to gain attention in the field of education and beyond, in today's society
financial knowledge has become an instrument in ensuring a financially healthy society
(Odek, 2015).
 Chapter 3
METHODOLOGY

Research Design
This research study entitled 'The Financial Literacy of Senior High School
Students on Sto.Rosario National High School, School Year 2022-2023' was Quantitative
research that strive to collect data information about the students’ awareness on
financial literacy.
The research design used by the researchers is Correlational Research.
Correlational research is used to describe and measure the degree association between
two or more variables or sets of scores population or phenomenon being studied. We
used correlational to know if there is a relationship between Science Technology
Engineering and Mathematics Strand, Accountancy Business and Management Strand
and Information Communications Technology Strand in terms of being financial literate.
This helps to know who are the financial literate students.

Respondent and Locale

This study was conducted at Sto. Rosario National High School, Sto.Rosario San
Juan La Union The Senior High School students are the respondent in our study.
The researcher respondents were Senior High School students from the Sto.Rosario
National High School.
Research Instrument
The respondents' personal information and their level of financial literacy, which
include budgeting, saving and how they are skilled in terms of handling their money or
allowances were gathered through the use of survey or questionnaire.

Data Gathering
The researchers prepared the items for the questionnaires. After the researchers
prepared the sample questionnaires, they made a letter for the validators they chose
and proceeds to give the sample questionnaires with the letters, the statement of the
problem and the scoring rubrics for the face and content validity. The researchers
waited for the results and recommendations from the validators. After the researchers
got the results from the validators, they then proceed to revise their questionnaires
considering the recommendations of the validators. The researchers have the revised
questionnaire checked by their research adviser for errors. After being approved by the
research adviser, the researchers then reproduce the copies of the questionnaires.
Before starting to distribute the validated questionnaires to the respondents, the
researchers sought an approval from their school heads in line to the topic they have
chosen. After receiving an approval from the school heads, the researchers also
prepared a letter to the teachers handling the classes of the respondents. The
researchers then proceed to further explain their study to their respondents to reduce
errors in answering the given items on the questionnaires. The researchers distributed
the questionnaires to the respondents through the use of Simple Random Sampling
during the time given to them in order to gather their perspectives, experiences, and
dimensions on how they handle their finances. The questionnaires shall be retrieved the
same day as they were given to ensure a higher return percentage of questionnaires.
The researchers checked, tallied, interpreted and analyzed the answers from the
retrieved questionnaires.
 Chapter 4
Results and Discussion

Table 1: Shows the sex of the respondents.

f %

Female 101 56.42

Male 78 43.58
Total 179 100%

Table 1 illustrates the sex of the respondents. There are 101 out of 179 female
respondents and 78 out of 179 male respondents.

Table 2: Shows the age of the respondents.

f %

16 30 16.76
17 80 44.69
18 45 25.14
19 17 9.50
20 3 1.68
21 4 2.23
Total 179 100%

Table 2 illustrates the age of the respondents. It goes to show that out of 179
respondents; 30 of the respondents are age 16 years old, 80 0f the respondents are
age 17 years old, 45 of the respondents are age 18 years old, 17 of the respondents
are age 19 years old, 3 of the respondents are age 20 years old and 4 of the
respondents are age 21 years old.

Table 3: Shows the strand of the respondents.

f %

STEM 86 48.04
ABM 42 23.46
ICT 49 27.46
HE 2 1.1
Total 179 100%

Table 3 illustrates the senior high school strand of the students in Sto. Rosario National
High School. There are 86 respondents in the Science, Technology, Engineering, and
Mathematics strand, 42 respondents are in Accountancy, Business and Management
strand, 49 respondents are in Information and Communications Technology, and 2
respondents are in Home Economics strand.

Table 4: The respondents grade level.

f %

11 83 46.37
12 96 53.63
Total 179 100%
 Table 4 shows the grade level of the senior high school respondents. There are 83 out
of 179 grade 11 respondents and 96 out of 179 grade 12 respondents.

Table 5: Monthly family income.

f %

15,000 below 101 56.42

15,000 to 25,000 33 18.44
25,000 to 35,000 27 15.08
35,000 to 45,000 11 6.15
45,000 to 55,000 7 3.91
Total 179 100%

Table 5 illustrates the monthly income of the parents of senior high school respondents.
There are 101 respondents with 15,000-below monthly income, 33 respondents with
15,000 to 25,000 monthly income, 27 respondents with 25,000 to 35,000 monthly
income, 11 respondents with 35,000 to 45,000 monthly income, 7 respondents with
45,000 to 55,000 monthly income.

Spending Habits

AWH DR

1.I spend a lot whenever I have money. 3.21 S

2.I am a reckless buyer. 2.77 S

3.I am easily influenced by peers. 3.15 S

in terms of what I buy.

4.I only spend money I assigned to. 3.42 S

its particular purpose.

5.I think first before I buy something. 3.88 A

6.I differentiate my wants and needs. 3.61 A

This table illustrates the results of the senior high school respondent’s spending habits.
As can be seen in the average weighted mean, most of the items are within the range
of 2.60-4.20 which has a descriptive equivalent of “Sometimes” and “Agree”. Among
the items, statement number 5- “I think first before I buy something” got the highest
average weighted mean of 3.88. This means that the senior high school respondents
are most likely neutral in terms of spending.
The item number 2, “I am a reckless buyer” got the lowest average weighted mean,
which means that some of the students in senior high school ain’t irresponsible in terms
of buying.

Saving Habits

AWH DR

1.I save my money on a coin bank. 3.06 S

2.I give my savings to my parents 2.73 S

for safe keeping.

3.I opt on buying cheaper to save 3.23 S

money.
4.I save my money on a bank account. 2.08 D

5.I bring my own snacks to school. 2.96 S

6.I bring my packed lunched to school. 3.27 S

7.I walk from home to school and 2.39 D

vice versa.
This table illustrates the results of senior high school respondents in terms of saving
their money. As shown in the table above most of the answers of respondents are
within the range of 1.81-3.40 which is “Sometimes” and “Disagree”. The highest
average weighted mean is 3.27 the statement number 6 “I bring my packed lunched to
school” which means that the most of the respondents bring their lunched to school to
save their allowances.
The lowest average weighted mean 2.08 is the statement number 4 “I save my money
on a bank account” which means of the respondents doesn’t save on a bank account or
don’t have a bank account.

Financial Knowledge

AWH DR

1.I have a subject area related to. 2.88 S

finance.
2.I know how investment works. 3.29 S

3.I know how interest works. 3.27 S

4.I am well aware of the consequences 3.49 A

off borrowing money with interest.

5.I have a definite plan to achieve my 3.34 S

financial goals.
6.I believe that financial stability is 3.94 A

something you have to work hard for.

7.I believe that saving up for the future 4.22 SA

is a must.

This table shows the average weighted mean and DR of the senior high school
respondents in terms of their financial knowledge. This shows that the highest average
weighted mean is the number 7, “I believe that saving up for the future as a student is
a necessity. On the other hand, The lowest average weighted mean is the statement
number 1, “I have a subject related to finance”. The researcher observed that the other
senior high school strand doesn’t have a subject related to finance aside from
Accountancy, Business and Management (ABM).

Budgeting

AWH DR

1.I create a budget plan. 3.26 S

2.I consider myself responsible in 3.53 A

managing my expenses.
3.I list my weekly expenses to keep 2.91 S

track on my expenditures.
4.I only buy stuffs that can fit my 3.76 A

budget.
5.I prioritize my needs first instead of 3.87 A

something unnecessary.

This table illustrates that the respondents of senior high school in terms of budgeting
their money according to the average weighted mean ranging between 2.61-4.20 and
mostly the answer is “Sometimes” and “Agree’. The highest average weighted mean is
number 5 which is 3.87, “I prioritize my needs first instead of something unnecessary”
which means most of the students know how to budget their money in terms of their
wants and needs. On the other hand is the lowest is the statement number 2 which is
2.91, “I list my weekly expenses to keep track my expenditures which means is most of
the students don’t have their weekly expenses plan.
Earning

AWH DR

1.I do sell my preloved items. 2.35 D

2.I have a small business. 2.02 D

3.I do part time job to earn money 2.36 D

4.I do commissions (e.g…, arts, book 2.32 D

reviews, essays, etc.)

5.I use my skills and talent to earn money 2.26 D

(e.g…, singing, dancing, pageants, etc.)

The table shows the earning capabilities of the respondents. The average weighted
mean ranges from 2.36-2.02 which means that the respondents earning capabilities are
not that high which is reasonable considering that they are still students.

Investing

AWH DR

1.I do invest on Bitcoins. 2.23 D

2.I do have an investment plan 2.40 D

3.I invest on collectibles (e.g.., 2.47 D

bags, jewelries, shoes, etc.)

4.I invest on online games (e.g.. 2.36 D

axie, tong-its go, philwin, mobile

legends, call of duty, etc.)
5.I invest on a small business. 2.12 D

The table shows the capabilities and knowledge of respondents in terms of investing.
The average weighted mean ranges from 2.47-2.12. Not very high but also not lowest.
The questions include investing plan and their investments.

CHAPTER 5
SUMMARY, CONCLUSION AND RECOMMENDATION

Summary
This study focuses on the assessment of senior high school students their
financial management skills if they are effective or inefficient when it comes to
budgeting, earning, and investing.
This study administered a correlational survey to senior high school students of
Sto. Rosario National High School which is composed of 179 students particularly 86
students from Science, Technology, Engineering, and Mathematics strand, 42 from
Accountancy, Business and Management strand, 49 from Information and
Communications Technology strand, 2 from Home Economics strand. The results of this
correlational study from each strand will provide about the perception of the students
about their perceived skills in budgeting, earning, and investing also about the status of
their financial literacy. The information gathered will serve as a basis if there is need to
develop an intervention tool that aims to educate the students about the proper and
effective way in budgeting their money.
Summary of the findings

1.Profile of the Respondents.

The study disclosed that in terms of sex 101 or 36.42% of our respondents are
female and 43.58% of our respondents are male.
In terms of age 30 or 16.76% of our respondents are 16 years old, 80 or
44.69% of our respondents are 17 years old, 45 or 25.14 of our respondents are 18
years old, 17 or 9.50% of our respondents are 19 years old, 3 or 1.61% of our
respondents are 20 years old and 4 or 2.23 % of our respondents are 21 years old.
In terms of grade level 83 or 46.37 of our respondents are grade 11 learner and
96 or 53.63 of our respondents are grade 12 learner.
In terms of strand 86 or 48.04% of our respondents are STEM student, 42 or
23.46 % of our respondents are ABM students, 49 or 27.46% of our respondents are
ICT student and 2 or 1.1% of our respondents are HE students.
In terms of estimated family income 100 or 56.42% of our respondents 15,00
and below monthly, 33 or 18.44% of our respondents family earns 15,000 to 25,000
monthly, 27 or 15.08% of our respondents family earns 25,000 to 35,000 monthly, 11
or 6.15% of our respondents family earns 35,000 to 45,000 monthly, and 7 or 3.91 %
of our respondents family earns 45,000 to 55,000 monthly.