Research

Perception of Grade 11 ABM students about Budgeting Strategies of
Arellano University
A Research
Presented to the
Arellano University Senior High School
_________________________
In Partial Fulfillment
Of the Requirements for the Subject of
Practical Research 1
By
Jan Denver Aquino
Andrea Claire Argelio
Joshua Paul Loverez
John Gerald Pulo
Joreign Rapah Delgado
Ashley Jane Parone
Lance Varon Soliman
Princess Joy E. Majerano
Simon Magno
Shakira Daniel
Aika Garganta
S.Y 2023-2024
INTRODUCTION
This chapter presents the background of the study, statement of the problem,
scope and delimitation, significance of the study, and definition of terms.
Background of the Study

Budgeting is one of the most important skills a student should possess. Having a
budgeting strategy may reduce your debts and increase your savings, consequently, may
help you from experiencing financial instability. If the students are unaware of financial
budgeting they may experience the following: overspending, financial stress, financial
instability and may get into a large amount of debt or financial obligations. In addition,
allowances, or baon, is usually the only source of income that most students receive. Due
to the high rate of inflation, budgeting allowance is one of the main problems among the
students in the current time. Possessing and applying budgeting strategy is an essential
skill to maximize financial success. Lack of financial literacy and budgeting strategies
can lead students to large amounts of debts, financial stress, and financial
mismanagement. As mentioned in an article from Forbes entitled "Should Schools Teach
Financial Literacy Classes?" In October 2022, financial literacy affects every area of your
life. The sooner kids understand these concepts, the better, especially if they come from
backgrounds with families who don’t prioritize financial literacy. Over time, financial
illiteracy can lead to problems like poor spending habits and unmanageable debt. It’s
harder to unlearn negative habits than it is to learn new ones, so these classes will, in
theory, set the younger generation on a path to resilient financial health.
The same mentioned article, "Should Schools Teach Financial Literacy

Classes?" (2022) stated that the research shows that financial literacy classes improve
the financial decisions of students later in life. The FINRA Foundation found that
students with higher financial literacy were less likely to have late fees, make only
minimum payments on their credit cards and take out payday loans.
As the credit scores in states like Georgia, Idaho and Texas rise, the
delinquency rate falls, further proving that putting the requirement of financial literacy
into effect provides positive outcomes.
Moreover, another article, entitled “Should Financial Literacy Be Taught in

More Schools?” by Ramsey (2023), stated that “millions of Americans struggle every
day with their money. At least 78% of people are living paycheck to paycheck, often
turning to their credit cards to make ends meet. So it’s no surprise that 71% of people are
burdened by debt and assume it’s a normal part of life. Beyond that, many Americans are
finding that they can’t buy homes, invest for retirement, or save for their kids’ college
funds because of their own student loan debt, massive car payments, and lack of financial
planning. People are deep in debt and short on hope.”
In connection with these, Banko Sentral ng Pilipinas (BSP Bridges Financial

Literacy Gap Among Filipinos, 2023) mentioned that according to a global study, the
Philippines is in the bottom 30 out of 144 countries in terms of financial literacy, while a
Banko Sentral ng Pilipinas (BSP) survey showed that only 1 percent of surveyed Filipino
adults correctly answered questions on financial literacy. The Philippines ranked second
lowest among ASEAN countries in a survey on financial literacy (Mendez, 2015).
Furthermore, Numerous people, especially senior high school students, lack the
necessary knowledge and skills to effectively manage their finances. This does not
exclude students from Arellano University, specifically those from grade 11 under the
strand Accountancy, Business, and Management (ABM). As the number increases, the
factors also escalate; these factors include the lack of financial literacy, the lack of
control over unnecessary spending, transportation fares, contributions to school projects,
and more of the same. As a result, poor budgeting makes students prone to overspending,
lack of resources due to buying expensive unnecessary materials, an unhealthy spending
habit, and even a financial crisis for their family. Therefore, we intend to conduct
research to resolve the problem mentioned, and to enhance the knowledge of students
regarding budgeting strategies.
The purpose of this paper is to identify the perception of grade 11 ABM

students on their budgeting strategies including management, attitudes, behavior, and
other factors that affect their overall financial state. To particularize their insights and
relationship in terms of responsibly handling their finances through multiple budgeting
strategies. It also focuses on the budgeting strategies of 11 ABM students from Arellano
University to understand their budgeting strategies and the effectiveness. Moreover, the
students will gain knowledge about their financial behaviors and be able to identify the
areas that have to be improved.
Scope and Delimitation
The study covers the perception of grade 11 ABM students from Arellano
University with the age group of 16 to 20 years old about budgeting strategy. It will
comprise the target respondents’ experiences, situations, behaviors, and strategies that are
related to budgeting and finances.
The research aims to particularize the perception and insights of students who are new to
the environment of senior high school, and whose strand are stereotypically related to
finances, therefore limiting the coverage to grade 11 ABM students.
Significance of the Study
This study highlights the perception of senior high school students, particularly
grade 11 ABM students, regarding their knowledge and understanding in terms of
handling their finances. It contributes to understanding what and how to improve the
aforementioned knowledge of these students as it can provide different perspectives that
can be applied to multiple personal situations in the future. The following are those who
are advantageous of the information from this research.
Students - The result may serve as a guide and idea for their own way of budgeting their
allowances or finances. It can also provide insights that are accurate to the student’s
personal situation.
Family/ies - With this research, the students will be able to maximize and spend their
allowances only on significant expenses. Thus, it directly helps the parents to lessen the
students allowance and redirect the funds to more important household expenses.
Future Researchers - The results of this research may provide information that future
researchers may use in their study in regards to budgeting strategies of students.
Statement of the Problem
Despite their knowledge regarding their chosen strand, a number of grade 11

ABM students are struggling to budget and handle their allowances. It seems that there
are multiple factors affecting how they handle their money. With this in mind, the
researchers aim to understand and assess the perception of grade 11 ABM students
regarding their budgeting strategies as students from Arellano University.
In addition, this research also aims to attain answers to the following questions:
1. What are the insights of the students about budgeting strategies?
2. How important are budgeting strategies?
3. What are the different budgeting strategies of the students?
METHODOLOGY
In this chapter, the researchers will present the framework design and procedures
to be undertaken during the period of study. This will include the research methodology,
respondents of the study, research population and sampling technique, the type of
Instrument used to collect data, and validation of an instrument.
Method of Research Used
This paper applies the qualitative method and is a phenomenological study.

According to Medium’s writer and research designer, Olive (2018), “a qualitative
research’s emphasis now is on understanding the personal attitudes, previous experiences,
social norms and environmental factors involved in decision making — all of which have
long been considered the domain of qualitative research. The emergence of big data is
making qualitative research imperative. In a world where everything is measured, where
sentiment and topics can be analyzed en masse, and with increasingly sophisticated
algorithms — providing a human context is crucial.” Phenomenological research can
expand our comprehension towards certain complex phenomena involved in everyday
experiences, lives, and fields. But success in these efforts is dependent upon both
improved awareness of the potential value of these approaches, and enhanced
familiarization with the underlying philosophical orientation and methodological
approaches of phenomenology. (Neubauer BE, Witkop CT, Varpio L. How
phenomenology can help us learn from the experiences of others. Perspect Med Educ.
2019.) Phenomenological research was also defined by Delve. Ho, L., & Limpaecher, A.
(2022c, March 17) as it “studies lived experiences to gain deeper insights into how
people understand those experiences.”
Respondents of the Study
This study will be conducted at Arellano University (Juan Sumulong Campus)

where the respondents are Grade 11 ABM students during the second semester of school
year 2023-2024. Researchers will be using stratified sampling in selecting 30 respondents
from grade 11 abm students which are 15 student from morning set and also 15 student
for afternoon set in Arellano University (Juan Sumulong Campus), the selected grade 11
abm students will answer the following questions through google form in essay type.
Research Population and Sampling Technique
The intended population for this paper are Filipino students, given the fact that
this research focuses on their budgeting strategies and financial literacy. The subset
sample that this research paper intends to reach are ABM students in eleventh (11th)
grade, specifically those studying in Arellano University.
Research Instrument
This qualitative study will be using essay type questionnaires to obtain data from
the respondents. The aforementioned questionnaires are to be answered in a created
google form by our members.
These are the following contents to be found in the questionnaire to be answered

by the selected respondents:
Name (Optional)
Age:
Sex:
1. What do you know about budgeting?
2. As a student how do you budget your money?
3. As a student, what is the essential that you got knowing budgeting strategies?
4. How relevant it is to have a proper budgeting strategy?
5. As a student, do you find it hard to budget your allowance? agree or disagree and
explain why.
References:
Camberato, J. (2022, October 11). Should schools teach financial literacy classes? Forbes.
https://www.forbes.com/sites/forbesfinancecouncil/2022/10/11/should-schools-teach-financial-
literacy-classes/?sh=f6729a846335
Solutions, R. (2023, January 11). Should financial literacy be taught in more schools? Ramsey
Solutions. https://www.ramseysolutions.com/financial-literacy/should-financial-literacy-be-
taught-in-schools
BSP bridges financial literacy gap among Filipinos. (n.d.-b). Philippine News Agency.
https://www.pna.gov.ph/articles/1206091
Studocu. (n.d.). Chapter I II III IVV 1 - qjeqjh - Perception of Grade 11 ABM Students about
Budgeting Strategies: A - Studocu. https://www.studocu.com/ph/document/cuenca-senior-high-
school/accountancy-and-business-management/chapter-i-ii-iii-ivv-1-qjeqjh/69320347?
fbclid=IwAR29J26U4ca1IWeqZFQnBieqPxWVFcLIrXevOmMIcrT9wxBnipGzmJxAR9A
Olive. (2018, September 6). The history of Qualitative Research - olive - medium. Medium.
https://oliconner.medium.com/the-history-of-qualitative-research-f6e07c58e439#:~:text=By
%201945%20the%20father%20of,'%20question.
Neubauer BE, Witkop CT, Varpio L. How phenomenology can help us learn from the
experiences of others. Perspect Med Educ. 2019
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6468135/
H, L. (2023, August 30). What is Phenomenological Research Design? — Delve. Delve.

https://delvetool.com/blog/phenomenology#:~:text=Phenomenological%20research%20is%20a
%20qualitative,preconceived%20assumptions%20about%20the%20phenomenon.

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Perception of Grade 11 ABM students about Budgeting Strategies of

Andrea Claire Argelio

Joshua Paul Loverez

John Gerald Pulo

Joreign Rapah Delgado

Ashley Jane Parone

Lance Varon Soliman

Princess Joy E. Majerano

Background of the Study

The same mentioned article, "Should Schools Teach Financial Literacy

Moreover, another article, entitled “Should Financial Literacy Be Taught in

In connection with these, Banko Sentral ng Pilipinas (BSP Bridges Financial

The purpose of this paper is to identify the perception of grade 11 ABM

Scope and Delimitation

Statement of the Problem

Despite their knowledge regarding their chosen strand, a number of grade 11

Method of Research Used

This paper applies the qualitative method and is a phenomenological study.

Respondents of the Study

This study will be conducted at Arellano University (Juan Sumulong Campus)

These are the following contents to be found in the questionnaire to be answered

1. What do you know about budgeting?

2. As a student how do you budget your money?

4. How relevant it is to have a proper budgeting strategy?

H, L. (2023, August 30). What is Phenomenological Research Design? — Delve. Delve.

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