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    Iv DV RRL Chloe

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    Iv DV RRL Chloe

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    IV-DV-RRL-CHLOE

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    of 3

    IV & DV: UNDERSTANDING THE PEER INFLUENCE ON SPENDING HABITS OF

    GRADE 11 ABM STUDENT IN PAMANTASAN NG LUNGSOD NG MARIKINA THEORY


    -FINANCIAL SOCIALIZATION THEORY

    REVIEW OF RELATED LITERATURE

    INDEPENDENT VARIABLE: SPENDING HABITS

    According to the study of Enano, et al., 2020, spending behavior is vital because it serves as
    first step in understanding the buying and spending patterns of consumers since different factors
    are linked to it (Juneja, 2017). Thus, a spending behavior of a person or specifically students are
    all correlated to their environment status or influences. Furthermore, family members and social
    status served as a major influence on someone’s shopping patterns and consumer habits (Enano,
    et al., 2020). The study mostly focuses on the idea of the student’s behavior influenced by the
    types of parents they have. The respondents’ parents have different perceptions and sources of
    knowledge on what is the most-effective child-rearing that will make their children be a better
    spender since most of them were mostly college graduates while some were only able to reach
    high school and elementary levels (Enano, et al., 2020). Additionally, the study’s finding has
    relation to the styles of parenting to the students, two rational concludes that authoritative and
    authoritarian style of parenting are being applied to the students. In accordance, the role of a
    parents has the constellation of attitudes or a pattern of parental authority towards the child which
    are conveyed to the child, creating the emotional context for the expression of parent behavior and
    development of their child’s behavior (Michalos, 2014).

    The study conducted four spending behaviors according to the researcher’s data collected, the
    data shows that among the four behaviors visualizes that most of the respondents were essentialist
    spenders, thus, the respondents are able to have financial management skills (Enano, et al., 2020,
    p.3). However, the researcher’s data gathered shows that parenting styles does not have clearly
    impact into the students spending behavior (Enano, et al., 2020).
    SOURCE: Impact of Parenting Styles to the Spending Behaviors of Senior High School Students
    at Western Philippines University-Agricultural Science High School, Aborlan, Palawan

    https://scimatic.org/storage/journals/11/pdfs/380.pdf

    DEPENDENT VARIABLE: PEER INFLUENCE

    In the study of International Journal of Organizational Leadership, discussed that the peer
    influences and family have impact to the financial literacy of a person or young generation
    (Alekam, et al., 2018). Stated through the study, financial literacy is about an individual’s
    awareness, act and normative influence towards financial extent. In accordance, financial literacy
    can have a helpful knowledge for young generations to hold their spending behaviors. Financial
    literacy also involves an individual’s ability to understand financial notion and interpret data.
    According to Remund (2010).

    One of the most characteristics in a financial behavior is through influence, by peers,


    environment, or inside the house and family. However, stated in the study that financial behaviour
    is known to be influenced by financial attitude, which is the opinion of the individual about the
    belief in financial planning and the inclination towards saving and spending the money (Sekar &
    Gowri, 2015). Nonetheless, people are able to be financial illiterate due to other circumstances,
    such as lack of awareness and daily consumption.

    According to the study of Noctor Stoney and Strandling (1992, as cited in I. Albeerdy &
    Gharleghi, 2015), the financial literacy is concluded as the preparedness of an individual to make
    informed judgments and to take constructive decisions on the usage and management of money.
    The study’s finding focuses on the impacts of peer influence of a financial behavior od young
    generation. The data gathered shows that social influence with closer peers have the most
    important influence either on the bad or good attitude of Gen Y in terms of physical and social
    distance (Alekam, et al., 2018). Additionally, the researchers conclude that there is a positive
    relationship between peer influence and financial with financial literacy. Mentioned the specific
    generation Y was being influence by peers in the topic of decision-making (Orgonowski, et al.,
    2014). Thus, the parenting, financial literacy, and spending behavior have completely relation into
    a young generations management skill.

    SOURCE:

    The Effect of Family, Peer, Behavior, Saving and Spending Behavior on Financial Literacy among
    Young Generations (2018)

    https://ijol.cikd.ca/article_60258_bd51d1fee02741f03c4bc7c66ae7bb51.pdf

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