“COPING MECHANISM TO FINANCIAL

PROBLEMS OF HUMSS STUDENTS IN

MELCHOR MEMORIAL SCHOOL INC.”

A Research Paper Presented to Melchor

Memorial School, Inc. Laguinbanwa, Ibajay, Aklan

In Fulfilment of the Requirements in the Subject Research in

Daily Life 2

Submitted to:

Renz Marion J. Calizo

Researchers

Lenard lance M. Escritor

Gian Meguel B. Gillensania

Diane jane S. Magtanum

King Ian D. Sectiona

Hikaro S. Dejeron

Franz khirby F. Tajaran

Hugh Bradleigh T. Lalisan

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 CHAPTER I

Introduction

This section explains the principles of the research that covers the
background of the study, statement of the problem, general objectives,
significance of the study, scope and limitations, research questions and
definition of terms.

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Background of the Study

Coping refers to conscious or unconscious strategies used to reduce

and manage unpleasant emotions. Coping strategies can be cognitions or
behaviors and can be individual or social. To cope is to deal with struggles and
difficulties in life. It is a way for people to maintain their mental and emotional
well-being. The pursuit of higher education is a significant milestone in a
student's life, often accompanied by financial challenges. This is particularly
true for students enrolled in Humanities and Social Sciences (HUMSS)
programs, where career paths may not always offer immediate financial
rewards. This study focuses on understanding the coping mechanisms
employed by HUMSS students at Melchor Memorial School Inc. to navigate
their financial difficulties. The financial challenges faced by students are a
universal concern, particularly in developing countries. In the Philippines, the
pursuit of higher education often comes with significant financial burdens,
especially for students from low-income families. This study focuses on the
financial struggles of Humanities and Social Sciences (HUMSS) students at
Melchor Memorial School Inc., a school known for its diverse student
population and commitment to providing quality education. Students nowadays
have some struggle in financial problems leading them to eventually stop their
journey at school especially those (HUMSS) students who suffer financial
difficulties, and it is the cause of financial problems but there are students who
eventually find a way to handle financial difficulties, it is the students who are
determine to finish and graduate. According to Widener (2017), there are two
ways on how a financial problem could affect the students’ academic
performance which are health problems and having to work part time. Widener
(2017) further added that financial problems lead to health problems such as
anxiety which then lead to negative behavior such as addiction to alcohol or
uncontrolled shopping hence making the students lose their focus on their
academics. When the students is facing financial problems and to overcome
difficulties because of the high cost of living they are more exposed and
vulnerable to health problems.

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 According to Halliday Wynes (Wynes, 2014) a student financial position
will affect their commitment in learning which will affect their academic
performance Moreover due to inflation and trade war it had made most of the
country facing recession and increases the cases of student facing financial
problem. In the society today, it is normal for a college student to live without
saving any money. But, they did not aware that accidents could happen at any
time. When accident happens, they could not pay for the emergency expenses
since they do not have any money inside their saving account, and they have to
pay with their credit cards and adding debt to their account. (Maureen, 2019),
mentioned that the first reason people get into debt is because they do not
have a saving accounts. “No money no talk”. Money, money and money.
People always mentioned this word in their life. Do you think money is
important in our life besides food, shelter and love? If you think so, then why we
need it? Nowadays, we always heard about bank robbery, snatch thefts, loan
sharks and others through media. It is because they have financial Problem In
their life until they involved in crimes.

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 Financial problem also happened among Students especially when they
further their study away from their hometown. Students always complaint about
sort of money because they are being away from their family which are their
source of money which cost them to struggle hard and to find their own way to
solve their financial problems on their own way. One of the core principles of
positive psychology is that character strengths buffer the effects of adverse
experiences on well-being. This study investigated whether external locus-of-
hope (LOH) moderates the effects of financial stress on Filipino students’
well-being. Students from various universities answered questionnaires
that included scales for financial stress, internal and external LOH, and
satisfaction with life; all the relevant scales had good psychometric
properties with the current sample. As expected, life satisfaction was
negatively predicted by financial stress and positively predicted by three LOH
dimensions. More important external-family LOH moderated the relationship
between financial stress and life satisfaction; there was no negative relationship
between financial stress and life satisfaction among students with high external-
family LOH. But the results also suggest that financial stress moderates the
relationship between external-spiritual LOH and life satisfaction external-
spiritual LOH’s positive relationship with life satisfaction is found only among
those who experience low financial stress.

Financial literacy has become one of the most concerned issues

in the developed countries in recent years especially after the
economic crisis of 2008 since the effects of personal finance are
significant to societies. Prior to the economic crisis of 2008,
studies on financial literacy were scarce in academic journals,
but governments of many developed countries however gave the
needed attention to the issue of financial literacy after the crisis.
For instance, there was an advisory committee on personal
finance which was put in place to encourage financial literacy
awareness among Americans after the economic crisis. The idea
of personal finance has been described in the literature as the

4
awareness and use of financial knowledge in our day to day
economic activities. It is therefore the application of financial
knowledge and terminologies by individuals in order to make a
rational decision. Many academic researchers in the field of
personal finance have chosen to define the concept as “the
ability to make informed and efficient judgment regarding the use
and management of money (Schengen and lines, 1996).
Personal finance literacy is however conceptualize on certain
critical areas in finance such as savings and borrowing, interest
rate, budgeting and financial knowledge (Chen and volte, 1998;
Remand, 2010). Past Studies have revealed that Americans
tend to have a higher rate of consumption compared to their
savings rate. This consequently led the country into a total
negative savings rate (Sullivan et al, 2008). Financial problems
are one of the main burdens facing our society, especially at the
height of the covid-19 pandemic which strokes a lot of poverty.
Many people have lost their jobs and are struggling to survive on
daily basis. The researchers will discuss how financial problems
affect the students. Due to financial worries, other parents are
unable to provide for their child needs and sustain demand
physiological needs, due to these circumstances, they get
indebted. The parents force their kids out of school, plunging
them into a downward spiral. Impoverished families are the one
who experience the impact of poverty. Most students prefer to
have a part time job to support their financial needs. So it affects
their academic performance which can cause their stress,
therefore, some students favor employment over academics. It
has been more difficult for workings students to manage their
time. Financial problem faced by student are known as they do
not have enough money for their daily expenses, where money
causing them to stress. After that, financial problem will bring
impact to both mental and physical health. Money is important to
students to finance their education. Some student’s lots of it and

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most students have less than enough money. As a result,
students must make difficult choices about whether to spend
money on food or other necessities; and others are forced to
deal with health issues that have a financial impact. Students
struggled financially to adjust to the high cost of living because
of the lack of funds. Financial concerns continue to plague on
students and may have an impact on their academic
performance.(Perman 2019) The results of our study will
benefits students as it gives suggestion/guidance to them in
wisely managing money for them to avoid having financial
problems as possible. Having a financial problem will give a big
factor especially for students, it will affect their grades.
Moreover, this study gives a suggestion on how to solve
financial problem. Financial problem faced by student are known
as they do not have enough money for their daily expenses,
where money worries is causing them to stress, where money
causing them to stress. Financial problem is a very serious issue
in our life particularly in our academic. Money is needed in larger
amounts, you can buy anything you needed. Paying for any
school related costs, such as tuition fees and school supplies.
For some project and expenses, even scholarship students
required money. This is a problem among students specially in
Senior High School. Other Senior High School students doesn't
have enough money to pay for their tuition fees. Others need to
pay for books, photocopies and etc. Every Senior High School,
students that are experiencing poverty needed to sacrifice their
education and stop their studies. Financial problem faced by
Senior High School students are known as they do not have
enough money for their daily expenses, where money worries is
causing them to stress.

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Statement of the Problem

The purpose of this study is to determine the Effect of financial problem

of the HUMMS Strand of Melchor Memorial School Inc.

This study specifically seeks to answer the following questions:

1. What are the most common financial problems faced by

Students of Melchor Memorial School Inc.?

2. What are the effects of financial problem on the academic

performance of students at Melchor Memorial School Inc.?

3. How do students at Melchor Memorial school Inc. cope

with financial difficulties?

Objectives

This study aims to meet the following objectives:

1. To identify the major cost expenses of financially

incapable SHS students in MMSI.

2. To identify who/what is/are the major source/s of finance

of the financially incapable SHS students in MMSI.

3. To identify the impacts of financial incapability to the

academic performance of SHS students in MMSI.

Significance of the Study

Student. The study aims to explore the financial problems that

students in the Humanities and Social Sciences (HUMSS)
department at Melchor Memorial School encounter.

Teachers. This will provide facts concerning the status of the

academic performance engaging financial difficulties, that would
embolden them to help the students by giving apt, explicit and
useful feedback regarding the result of this matter.

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Future Researchers. By understanding these challenges, the
researchers can gain insight into the difficulties that students
face in their academic and personal lives, which can help in
developing targeted support systems.

Scope and Limitations of the Study

The study will focus on Grade 12 HUMSS students enrolled in

Melchor Memorial School Inc during the academic year 2023-
2024.

The study will be conducted on a limited sample of Grade 12

HUMSS students from Melchor Memorial School Inc. This may
not be representative of the entire population of HUMSS
students in the Philippines, limiting the generalizability of the
findings.

Definition of terms

The following terms are operationally defined to give a

clear understanding of the students.

Academic performance refers to the measurable

outcomes of student's educational achievements.

Budget is an estimate of income and expenditure for a

set period of time. Expense-the amount of money that is
needed to pay for or buy something.

Economic Status refers to the family income

Financial Instability refers to a state in which an

individual or household experiences inadequate

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financial resources, unpredictability, or insecurity in
meeting their basic needs.

Impact refers to have a strong effect on someone on

something.

Impact refers to the influence or effect that financial

instability has on students' academic performance.

Money something (such as coins or bills) uses as a

way to pay for goods and services and to pay people
for their work. Allowance-an amount of money that is
given to someone regularly or for a specific purpose.

Student. Is a pupil that learns inside the school

promises.

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 Chapter II

Review of Related Literature

Poverty Line as a Basis of Financial

Incapability of an Individual

Brief History of Research History shows that financial problems go hand

in hand in order to make the life of some students very hard but some are
either held back by finances and monetary problems, Others are being held
back by the problems itself as it cannot be avoided that some people are not
born in entitled wealthy family There are also students who balances the
academics with work in order to support themselves. To lessen the burden for
their family as their consciousness makes them pity their parents for not being
able to provide for their educational needs. It takes a toll in their mental health
as they start to worry for their parents on how they will support their educational
needs.

Students’ Major Expenses

In the article, What are the Major Expenses for Students by Jeremy
Shane Alder, cost is a concern for anyone who studies. There are many
expenses that a student may encounter just to be able to go to school. A
student will spend most of his/her money for his/her yearly tuition, room and
board, textbooks and school supplies.
Minor expenses include equipment, transportation and school and
activity fees.

Students’ Major Source of Finance

Nowadays, it is very usual for college students to apply for scholarships
or any financial aid from the government. Students need financial assistance
for it is very costly to enter universities and schools. According to a research

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from the University of Michigan„s Patrick Wightman, 62 percent of students
rely on loans from their parents.
Though students today are considered mill denials and are defined as
financially independent, survey found out that majority still rely on their
parents. Based on a new Merrill Lynch/Age Wave survey, 70 percent of
adults, ages 18 to 34 received financial support from their parents, and almost
three in five millennials were saying they could not afford their lifestyles
without the support.

According to Ngene et al (2004) student’s financial status does depend

on source of finance of their family. The study also indicates that over 48% of
the respondents get their money from their parents. Having low monthly
income meant to affect the financial status of the ones who were studying.
The dependence to the parents from being an infant leads to the continuous
dependence of the children to other aspects, specifically, decision-making, life
choices and education. In addition, those ones who consider their finances not
enough, they seek other sources to sustain the necessities in school from their
siblings who were already working and other relatives who volunteered to help
them.

Impacts of Financial Incapability to the Academic Performance of

Students

According to Ngene et al (2004), being financially incapable has impacted the

students in different aspects:

• Financial Stress and Pressure – According to Sandra, W. (2007),

students from poverty-stricken families often do suffer from stress
unlike their peers from other well-off families. Experiencing poverty,
students experienced pressure thinking where to seek for source of
finances and when to pay and fulfil their payments in school. As stated,
students who are financial incapable tend to be affected not just
physically but psychologically and mentally.

• Absenteeism – Students who experienced financial incapability may

have to be out of school, trying to meet their financial needs due to the

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 lack of allowances for transportation. Most students who were
frequently absent in school found it difficult to catch up to school
leading to a low academic performance. Due to absenteeism, students
found it hard to create and establish relationships between their
teachers, schoolmates, and other school related personnel (Bello,
1998, p. 21).

• Lack of Project Materials – Financial incapability often places

limitations on the family's ability to provide other material resources for
their children as well. Being unable to provide their children’s project
materials had led to their children to produce projects in a low quality.
Due to the lack of resources, their children found it hard to be
competent when it comes on doing projects, assignments and outputs.
Even the lack of access to the Information, Communication and
Technology disables their children on making researches with no
hassle, not needing to visit state and school libraries on weekends
(Parrett and Budge, 2018).

• Unable to pay for the school finances on a given due date –

Financial incapability led students not to pay school finances on a given
due time. This led the students to feel embarrassed resulting to
psychological effect. Being unable to forecast the unexpected
expenses resulted them to feel such pressure just to satisfy their school
requirements (Parrett and Budge, 2018).

• Created limited opportunities – According to Johnston (2017), poor

students find opportunities being limited and just available to those who
were well-off. Also, they find it hard to grab opportunities because of
thinking what will be sacrificed (such as money) when such
opportunities will be grabbed. This stopped them to be able to have an
advancement when it comes to their academic status.

• Less attention and appreciation/ unequal treatment – Studying in a

school, poor students were least appreciated and treated negatively not
just by teachers, but also their schoolmates, this results to
discrimination based on the financial status of the students. It resulted
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 class divisions that made poor students to feel out-of-place, resulting to
a lower self-esteem (Johnston,2017)

• Low self-esteem – Students‟ self-esteem are affected by stigma

attached to poverty stricken families, class divisions, humiliation from
peers pointing out what they lack, low quality clothing compared to their
peers etc. in addition to this, there are other factors like lack of access
to some facilities like swimming pools, certain games like golf etc. All
these factors can have a negative impact on the self-esteem of the
child which turns negative influences to the child’s education. Having
such factors, this led the students to be afraid to speak in front and
public and to voice out their opinions.

• Less concentration at school - According to a new study led by Harvard,

Princeton and Warwick University scientists, financial hardship may directly
influence a person’s cognitive ability. Specifically, this leads the students to be
unable to concentrate on class discussions, making school works and
reviewing

(Medina,2013).

Financial Capacity as a Basis to Money Management Decisions

Financial capacity is an essential component that defines how an

individual act in terms of money management decisions. The financial
capacity of the students is a factor that leads them to excel in class or
otherwise could cause financial stress. For example, a student born rich and
has more than enough money to spend at school is more likely could join
activities and spend some money to unrelated school finances as well. On the
other hand, students who are born poor and deprived are likely to experience
financial stress on how to budget their allowance for the school fees that
affects their ability to focus on their academic performance.

Microfinance Opportunities (MFO, 2013), defines financial capacity as

the combination of attitude, knowledge, skills, and self-efficacy. It serves as a
basis to make and exercise money management decisions that are
appropriate to the circumstances of ‟s one life, within an enabling environment
that includes, but is not limited to, access to appropriate financial services.

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 According to World Bank, financial capability is the internal capacity to
act in one's best financial interest, given socioeconomic environmental
conditions. It includes the knowledge, attitudes, skills, and behaviors of
consumers with regard to managing their resources and understanding,
selecting, and making use of financial services that fit their needs.

Strategies to cope with financial Problems

Financial problem is the most common problem of a students Faced, but

there are strategies to cope up financial needs and it is proven to be effective.
Limiting you daily consumption is one of the most effective way to cope with
financial problems because some people tend to buy many things even it is not
needed or not important, being a SHS students really is difficult if you are
having trouble in financial at the same time as you study, here are some ways
to cope up with financial problems.

According to Juliana ohua Indome (2013) the study also identified

borrowing from close relatives and friends and taking part-time jobs as coping
strategies adopted by the students. The study recommended that government
should continue pursuing funding of university education through “cost sharing
principle” as this would also exert seriousness in students. Additionally, the
University Management and Students’ Representative Council should regularly
organize seminars for the students on financial management skills. The study
assessed the financial challenges and coping strategies adopted by students in
financing tertiary education. It specifically investigated among others the
sources of funds available to the students, the nature of financial challenges
and their coping strategies. Participation in the study was restricted to only
Levels 300 and 400 students of the University of Cape Coast from all eight
schools and faculties in the University. A case study design was adopted, and
questionnaire and an interview guide were administered. The questionnaire
had a reliability coefficient of .815. In all, 639 student respondents were
randomly selected for this study. Statistical tools like percentages, frequencies,
means, standard deviation, Chi-square test, test and effect size were used. It
emerged that the main sources of funding available to the students were
parental support, personal savings/investments, siblings and relative support,
and the Students’ Loan Trust Fund. Students generally had problems with the
cost of internet access, photocopying and printing of educational materials,
feeding and accommodations. The study also identified borrowing from close
relatives and friends and taking part-time jobs as coping strategies adopted by
the students. The study recommended that government should continue
pursuing funding of university education through “cost sharing principle” as this

14
would also exert seriousness in students. Additionally, the University
Management and Students’ Representative Council should regularly organize
seminars for the students on financial management skills.
According to Sonya L Britt (2016) The results from 2,236 Midwestern
college students indicate that financial and life stressors, higher subjective
financial knowledge, fewer financial resources, negative perceptions, and lower
mastery are associated with higher financial stress. Financial stress was not
associated with academic achievement, but financial stressors, objective
financial knowledge, and financial resources were highly related to financial
stress. Increasing available financial resources to students, in addition to
providing opportunities to increase financial knowledge for students, would
likely be associated with decreased stress and better academic achievement.

Impacts of Being Financially Stable to an Individual

Being financially stable helps an individual become less problematic

and leads the students to be more focused on their studies, They can also
focus on other things because they don’t need to think about their financial
and it is one of the biggest impact of being financially stable In some cases
where numbers of students apply for a job while studying at the same time
due to financial instability, tend to have health issues such as drowsiness and
sleepiness at school. Being financially stable helps them get rid of this
problem and will gain more focus on the academic performance instead of
thinking where to get money for the finances.

AAB Council for its article, Psychological Benefits of Being Financially

Stable (2017), claims that being financially stable affects an individual to have
a healthy mind and body. A person who keeps thinking of where to get the
money to pay-off monthly expenses puts a lot of pressure and stress on the
individual. Being financially stable helps an individual to eliminate this kind of
health problems.

Financial Concerns as a Factor to Students’ Academic Performance

Financial concerns contribute stress to the students that has an impact

to achieve poor academic performance at school and could lead to another
stress as well. Nowadays, where it is a necessity to have great amount of
money for school requirements, financial concerns greatly affect their health
15
and how they could cope up actively with the lessons at school. Financial
capacity as a stressor to the academic performance of the students are two
interrelated factors that hinders students to excel in class.

Fosnacht et al (2013) claims that there is an increase in financial stress

among students, largely due to education expenses, is often reported. Their
study found anywhere from 33% to 70% of college students are experiencing
stress due to financial concerns. According to their study, students with
financial stress perceive a less supportive campus environment, but focused
on ways that students cope with stress rather than the impact of that stress on
academic performance.

Trombitas (2012) reports that between 9% and 40% of students feel

that financial stress has negatively affected their academic performance.
Financially stressed students were more likely to drop courses due to the lack
of financial resources and less likely to graduate. The study found out that one
third of respondents reported that financial stressors had a negative impact on
their academic performance or progress.

Ross, Cleland, and Macleod (2006) investigated debt, stress, and

academic performance of medical school students in the United Kingdom. The
respondents rated money as the second most significant cause of stress
following coursework. Students who perceived that worrying about money
affected their academic performance were found to have poorer academic
performance, while the level of debt itself showed no direct relationship with
academic performance.

National Survey of Student Engagement director Alexander C.

McCormik stated in Allie Grasgreen‟s article Money of the Mind (2012) that
this issue is “not too surprising but worrisome”. Based on the same article, 36
percent of first-year students and 36 percent of seniors said financial concerns
interfered with their academic performance.

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Cores on How to Measure Academic Performance

Based to the article, What is the Meaning of Academic Performance?

(2018) by Ellie Williams, employers hire employees through looking in the
applicants‟ academic performance especially when hiring recent graduates.
Grades carry more weight in some industries, especially technical professions
such as law, medicine and finance.

According to the similar article, there are three cores on how to

1. ) 2. )
measure one‟s academic performance; impressive test scores,
extracurricular accomplishments, and 3.) student leadership.

Financial Strength and its Impacts to Students’ Academic Performance

Families often struggle just to meet and provide basic needs. The
researchers claim that majority of the students in MMSI are dependent to their
parents for their school finances.
“Impact of Students‟ Financial Strength on their Academic
Performance: Kaduna Polytechnic Experience” (2014) revealed that students
financial status does depend on source of finance. The study also indicates
that over 48% of the respondents get their money from their parents.

The researchers have observed that most Filipino parents in the

country demand a higher salary, this is an indication that Filipino families are
not capable enough of sustaining their primary needs. The study stated that
students who are lacking financials are not capable of buying textbooks
resulting to poor learning advancements. It may also lead to absenteeism due
to the lacking of transportation finances that may cause the student to be left
behind in his or her lessons.

“The financial problems of students immensely contribute to low

performance, thereby leading to poor quality of education in a number of
ways. In the first place, most students cannot afford the essential learning
materials like textbooks. Lastly, a student cannot be expected to give his/her
full attention to what is going on in class due to the financial necessities

17
he/she expecting. All these lead to absenteeism since the student may have
to be out of school, trying to meet these needs,” (Bello, 1998, p. 21).

The Impact of Finance on the Academic Performance of

Secondary School Students

Finances are one of the key resources that measure financial

information of the students regarding how do they utilize their money for
school performance. The researchers see and define education as an
expensive social service that requires enough financial allocation to
accomplish successful implementation by the government.

Many Americans are caught up in the economic downturn, and college

students are often worried about money, due to divided attention, the
academic performance of the students affected the availability of learning
materials as a daily basis for school requirements concerns the students in
order to keep up in school, Sander (2012). Dubey (1984), asserted that
“child’s academic achievement is supposed to be determined by the child”,
incidentally, the parents and natural setting affects the performance of the
child as well.

“Unfortunately, low income students are more likely to possess high risk
characteristics than even
undergraduates.” Adelma, (1999) stated. In his findings, beginning students
who came from families in which neither of the parents attended college,
composes twothird of low –income families compared with one-third of
middleand upper income students. 50 percent of middle and upper income
students have at least one of the parents who earned a bachelor’s degree or
higher, compared with less than 20 percent of low income students. This
implies that the children of the parents whom have not accomplished formal
education could rely less from them because they don’t have enough
experience.

18
19
 Chapter III

Methodology
This part of the research contains the validity and reliability of the

instruments, locale of the study, respondents of the study, research design,

sampling design and procedure, research instrument, data gathering

procedure, statistical tool and data analysis.

Locale of the Study

The Melchor Memorial School, Inc. is one of the active schools in

Ibajay, Aklan. It is located at Purok 2, Laguinbanwa, Ibajay, Aklan. The school
has five buildings, the Main Building, Annex 1, Annex 2, Old Annex and the
New Building. This school consists of 1, 450 students from grade 7 to grade
12 school year of 20192020. MMSI has both Junior High school and Senior
High school, in SHS, MMSI offers three strands under the academic track, the
Humanities and Social Sciences (HUMSS), Science, Technology, Engineering
and Mathematics (STEM) and Accountancy, Business and Management
(ABM). As of the school year 2019-2020. The Melchor Memorial School Inc.
has a total of 1,367 population. Out of that, 450 of them are SHS students and
917 are the JHS students.

Respondents of the Study

Out of 450 SHS students, this study surveyed 103 respondents as

based on the result of the pre-test conducted, who were below the poverty line
of Php 2, 096.2. The researchers conducted a survey to 103 financially
incapable SHS students from 64 Grade-11 students and 39 Grade 12
students. SHS were chosen because the researchers have observed that
SHS students experience more requirements and pressure compared to the
lower grade levels, due to the expectation that SHS students are likely more
mature to accomplish the given task. Also, they are more knowledgeable and
responsible enough to handle their school finances.

20
 To identify the respondents, the researchers used the average monthly
income of the family divided by the number of family members in the
household, an individual will be identified as financially incapable if the result
will be less than Php 2096.2.

Php 2096.2

Research Design

The researchers used descriptive research design as the study aims to

describe what are the impacts of financial incapability to the academic
performance of the SHS students of MMSI. The survey were useful on
gathering data that described the impacts of financial incapability to the
academic performance of the SHS students of MMSI.

Sampling Design and Procedure

The study used purposive sampling procedure. It is a non-probability

sampling technique that is based on the financial status of the SHS students
of MMSI.

Research Instrument

In this study, survey questionnaires and interviews were used by the

researchers. Every answer from the survey questionnaires and interviews are
first-hand information because it comes directly from the respondents. This is
an efficient and essential factor for a research to have genuine answers to
better prove the claim of the study. Survey questionnaires could simply gather
data through check-lists and essay which does not take too much time to be
answered by the respondents and to easily measure the results in order to
identify the problem and support the claim of the study. Interviews will be an
effective way to gather data, it is also an essential factor to have better
collection of data in a subjective manner and discover new variables from
mere opinions of the respondents.

Validity and Reliability of the Instruments

21
 To ensure the validity, the instrument was first submitted to the
research teacher before it was validated by the research adviser. The
revisions, comments and suggestions of the research teacher and adviser
were considered to establish the validity and credibility of the instrument.

Data Gathering Procedure

The survey focuses on academic concerns so the respondents are

students to gain more credible and effective answers. Since both the
researchers and respondents are students of MMSI, it is easy for the
researchers to reach them and interact personally. With that, the data
gathering was efficient because it did not consume much time to travel
different places as well as much money for the transportation and was
effective to address the possible issues regarding the clarifications of the
answers. For the interviews, the researchers personally asked their
respondents. The researchers personally gave the survey questionnaires to
their respondents. With that data gathering procedure, the researchers
received first-hand information from its respondents.

Statistical Tool

The researchers analysed the result and the data collected from the
answers on the survey questionnaires personally given to the respondents
using frequency counts and percentage.

The researchers used frequency count and percentage to measure the

data gathered and used a tabular representation for an easy interpretation of
the data. The researchers found it easier to evaluate and measure the results
through tables.

Data Analysis

The researchers used a combination of quantitative and qualitative analysis.

Quantitative analysis was used to quantify the problem by way of generating
numerical data or data that can be transformed into usable statistics, it used
measurable data to formulate facts and uncover patterns in research
(DeFranzo, 2011). On the other hand, qualitative analysis was used to gain

22
and understand underlying reasons, opinions, and motivations. It provides
insights into the problem or helps develop ideas (DeFranzo, 2011).
Quantitative data analysis was used to measure the results from the check-list
and survey questionnaires regarding specific target variable. The researchers
described and interpreted objects statistically and with numbers. Qualitative
data analysis was also used because the researchers conducted surveys and
interviews to gain subjective data. The interview seeks to find out the impacts
of financial capacity to the academic performance of the senior high school
students of MMSI.

23
 CHAPTER IV.

This chapter presents the data gained from the study, together with its

analysis and interpretation.

The presentation of results is in tabular and textual form while the

discussion, analysis and interpretation are in accordance with the information

stated in the statement of the problem.

PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA

This research study aimed to identify the major expenses of the financially
incapable SHS students of Melchor Memorial School, Inc. (MMSI) in the
school, to know their major source of finance and to determine the impacts of
being financially incapable on their academic performances. In this chapter,
the results of the data gathering during the survey were presented. The first
part of the presentation dealt with the profile of the students who participated
in the survey. The second part included the data regarding the major
expenses of financially incapable SHS students of MMSI. The third part
contained the data regarding the major source of finance of financially
incapable SHS students of MMSI. The last part presented the data regarding
the impacts of financial incapability to the academic performance of the SHS
students of MMSI.

DATA PRESENTATION

24
Respondents’ Profile

A total of one hundred three (103) respondents were surveyed from the SHS
students of Melchor Memorial School, Inc. through non-probability sampling.
The following data was analysed by the means of frequency distribution.

To be familiar with the respondents, the researchers included the following in

the questionnaires: name, age and grade level. The method used to analyse
this data is the frequency distribution.

The respondents‟ information and the consequent frequency are drawn in the
Table 1 and were discussed more in the preceding parts.

Table 1. Respondents‟ Profile

Demographics Groups Frequency
Grade 11 64
Grade Grade 12 39
23-24 1
21-22 1
Age 19-20 8
17-18 15-16 59 34

The table above showed that out of one hundred three (103) respondents,
sixty-four (64) were from grade 11 and thirty-nine (39) were from grade 12.
The researchers sought after the financially incapable SHS students during
the survey on the suppositions that they have more school requirements that
require finances and they are more independent and knowledgeable in money
management.

The population of the samples was composed of two (2) respondents

aged fifteen (15), thirty-two (32) respondents aged sixteen (16), thirty-five (35)
respondents aged seventeen (17), twenty-four (24) respondents aged
eighteen (18), five (5) respondents aged nineteen (19), three (3) respondents
aged (20), one (1) respondent aged twenty-one (21) and one (1) respondent
aged twenty-three (23).

25
With the data gathered about the respondents‟ information, the researchers
concluded that majority of them are in the age of 17-18 in which in the stage of
being matured when it comes to money management.

Major Expenses of Financially Incapable SHS Students in MMSI

Table 2. Major Expenses of Financially Incapable SHS

Students in MMSI
Frequency
Expenses in Grade Grade Total Rank
School 11 12 TOTAL Percentage
Yearly Tuition 38 22 60 23% 2
Room and Board 4 2 6 3% 6.5
Textbooks and 15 11 26
School Supplies 9 7 16 10% 4
Equipment 28 26 54 6% 5
Transportation 88 21% 3
School Activity 53 35 6
Fees 2 4 34% 1
Others 3% 6.5

The data in the table 2 interpreted that the financially incapable senior
high school students‟ major expenses is on school activity fees being selected
88 times. Yearly tuition ranked second as the major expenses of financially
incapable SHS students, transportation ranked third and was preceded by
textbooks and school supplies. Equipment such as laptop ranked fifth,
followed by both room and board and other expenses such as food
allowances and other school related stuffs.

26
Major Source of Finances of Financially Incapable SHS Students of MMSI

Table 3. Major Source of Finances of Financially

Incapable SHS Students of MMSI

Source of Frequency Rank

Finances Grade Grade TOTAL Total
11 12 Percentage

Parents 62 37 99 63% 1
Siblings 22 13 35 22% 2
Other
Relatives Others 18 30 21 3 13% 34
3 2%

Frequency of Frequency Rank

Asking Total
Grade Grade TOTAL
Finances Percentage
11 12
Daily 27 27 54 52% 1
Weekly 15 7 22 21% 3
Monthly 20 5 25 24% 2
Others 3 0 3 3% 4

The data in the table 3 showed that the parents are the major source of
finance of financially incapable SHS students in MMSI. The siblings ranked
second as the source of finances, followed by other relatives such as their
grandparents. Three individual respondents included the 4P‟s in the ranking
as one of their major source of finance.

Table 3 also presented the regularity of how often does financially incapable
SHS students ask for finances from their major sources. Most of the
respondents asked daily for finances, followed by monthly frequency, weekly
session ranked third and lastly, other session such as when they only needed
the money.

27
Impacts of Financial Incapability to the Academic Performance of SHS
Students in MMSI

Table 4. Impacts of Financial Incapability to the

Academic Performance of SHS Students in MMSI

Effects Frequency Rank

Grade Grade 12 Total

11

28
None 0 0 0 9.5
Causes financial stress 55
and pressure 20 38 93 2
Leads to absenteeism 43 8 28 8
Lacking project 24 67 5
materials 50
Unable to pay for school 25 75 3
finances on a given due
date 60
Creates limited 35 95 1
opportunities on joining
school activities
Given less attention and 22
appreciation/unequal 17 39 7
treatment 26
Have low self-esteem 19 45 6

Results to less
concentration at school 44
Others 0 29 0 73 4
0 9.5

Table 4 presented the impacts of financial incapability to the academic

performance of SHS students in MMSI. Creates limited opportunities on
joining school activities ranked one, financial stress and pressure ranked
second and being unable to pay for the finances on due date ranked third.
This research found out that financial incapability results to students‟ less
concentration at school which ranked fourth, followed by lack of project
materials. This study figured out that some financially incapable students have
low self-esteem that ranked sixth, afterward is the unequal treatment among
them and absenteeism ranked last among all the selected impacts.

29
 DATA ANALYSIS AND INTERPRETATION

The researchers aimed to discover the impacts of financial incapability to the

academic performance of SHS students in MMSI. Based on the conducted
survey to the SHS students in MMSI, both grade 11 and grade 12, the
researchers came up on an analysis and interpretation regarding the matter.

Major Expenses of Financially Incapable SHS Students in MMSI

Expenses are defined as the materials, activities, needs and wants that
people are spending for. In this case, the researchers put up more specific
expenses in the accordance of the literature found for the students focusing
on the school expenses.

The researchers found out the students‟ major expense fell on the
school activity fees. It is in nature of Melchor Memorial School Inc., to conduct
a lot of programs and school activities, both academic and extracurricular. In
every activity, it is unavoidable to have no financial requirements, based on
the data gathered, most financially incapable students struggle on this part.

The second major expense that financially incapable students fight

against is yearly tuition. MMSI conducts monthly examination which requires
one over ten (1/10) of their yearly tuition. According to the data gathered,
financially incapable students who cannot pay their tuition on due date passes
promissory notes or either sacrifices their own allowances not allotted for their
tuition to be able to take their assessment tests. Though most of the parts is
covered by GASTPE, a government educational assistance program, it is still
costly for those who are financially incapable.

Transportation, as the third major expense of financially incapable SHS

students in MMSI. Over 1,300 students of MMSI, majority of them spend
transportation expenses due to going forth and back to school daily. Most of
the students are coming from different barangays around Ibajay and other
municipalities, and their transportation fees vary depending on the distance of
their home from the school. Due to unexpected payments related for
academic purposes, students are forced to allocate their extra and even

30
remaining finances for those instead for their transportation expense. This
scenario sometimes leads the financially incapable students to borrow
finances from their friends or classmates to cover up their transportation fees
yet, also leads to another financial debt.

The proceeding expense are considered as the minor expense of

financially incapable students, textbooks and school supplies ranked fourth,
this is one expense that enables students to rush for finances especially when
a subject teacher or advisers requires their students to buy for compliance and
for advanced learning purposes. Equipment such as laptop which is
necessary for the students nowadays due to technological advancements also
contributes to the financial stress among financially incapable students.
PowerPoint presentations, researches, technical are really done in ease with
this equipment. Students really need this tool to make their tasks efficiently
especially when they are bombarded by tons of schoolwork and consecutive
deadlines. It is hard for them to borrow laptops given that most of the students
are also needing those, so some are obliged to buy for themselves. Room
and board ranked last as major expenses particularly for students who are
living too far from the school. Aside from travelling back and forth that could
cause fatigue, this could also be a little hustle for them so they chose to take
on a boarding house, yet, they could also spend thousands for this expense.

Major Source of Finances of Financially Incapable SHS Students of MMSI

Source of finances is defined as the people or government assistance

that provides the financially incapable students the money they needed to
sustain their expenses in school.

According to the respondents, their parents are the major source of

their finances, given that it is their obligation to send their children to school.
The parents are responsible for their children‟s necessities not just for school
purposes but of course to their other needs. For those students who does not
have any siblings, their parents would be the primary source of their finances.

The siblings also are one source of finance for other respondents. Specifically,
those financially incapable students who have their brothers and sisters

31
working already have considered them a major source of finance. Aside from
their parents who provide them their finances, their siblings also contribute at
least parts of their expenses.

Some financially incapable respondents paid their expenses with the

help of their other relatives (eg. grandparents, uncles, aunts). They are able to
cope up with the expenses because of their extended source of finances in
the family. Although parents should be the one to provide their children the
expenditures, it was not an issue to seek assistance from their other relatives.

On other cases, financially incapable students were able to pay their

expenses with the assistance from the government. Three respondents have
stated that they got to cover up their expenses with the aid of Pantawid
Pamilya Pilipino Program or 4P‟s. Some respondents considered this
program as one major source of finances as it provides them the money to be
allotted for fill their essentials, including students‟ academic purposes.

The researchers also surveyed regarding the financially incapable students‟

regularity of asking finances.

Financially incapable students often ask money from the given sources
everyday. Commonly, average students are given cash daily good for that
specific day respectively. Financially incapable families would find it hard to
provide their children big allowances per day or for several days. The
availability of money is good for only a day and parents would sometimes
advice their children to thrift their allowance so that it could be utilized for the
coming days..

Certain financially incapable respondents asked finances from their

sources every week and every month. Few only asked finances from their
sources only when they need to, especially from their parents. This situation is
present in most times of unexpected expense.

32
Impacts of Financial Incapability to the Academic Performance of SHS
Students in MMSI

The impacts of financial incapability present the effects of being

financially incapable towards the SHS students‟ academic performance.

Financial incapability creates limited opportunities for students on

joining school activities. This situation often leads students to be left behind in
terms of social interactions and advanced learning processes. Due to the
incapability, they were unable to explore things outside their classrooms.
Activities teach students on how to become productive and also hones
leadership, but for some who cannot pay the required amount to join activities,
this is a serious conflict.

Financial stress and pressure also affects how students perform in their
academics. They tend to experience anxiety because they thought of ways on
how to gain money especially for paying their school finances. Though it is
their parents‟ responsibility, some students were already afraid of asking
finances for the reason that they do not want to pressure them as well or to
avoid being scolded. In this case, they were the ones who battle financial
stress and pressure.

Students were unable to pay for school finances on a given due date,
specifically for those financially incapable who were finding ways on how to
get finances as quick as possible so that they could cover up the needed
finances. Those who do not have enough budget and had not forecasted the
financial status they needed for the coming days especially during the most
unexpected times, will find it hard to meet the deadline.

Financial incapability results to less concentration at school. Given that

financially incapable students were experiencing stress and pressure, these
factors affect their concentration at school. They were more inclined to focus
on how to gain money instead of having to keep their attention on the class.
Sometimes, they thrift their food allowances just to pay unexpected

33
requirements such as handouts. They skip their health breaks which causes
them to starve in class and cannot focus well.

The lack of project materials affects the outputs of the students. They
have insufficient money to buy project materials which makes it hard for them
to receive high ratings. Though some might be resourceful, still having a lot of
available materials has an advantage. They would likely to think of ways on
how to make their crafts creative despite of lacking materials while those who
have the availability will only proceed on creating their projects without
thinking where to find other resources. This enables them not to pass on time
because finding capitals for the project was time consuming.

Students who were financially incapable have low self-esteem. They do

not have confidence to join peers because they thought they cannot go along
with financial status. They were afraid to commit on social relationships
because they thought that society cares about those who have money. Their
status hinders them to socialize because they were not satisfied of themselves
and felt something is lacking.

On the other hand, financially incapable students were anxious of social

interactions for they were given less attention and appreciation. They thought
that they might be unequally treated as if people cared for financially capable
individuals more than financially incapable ones. They thought that money
makes the world run.

Lastly, financial incapability leads to absenteeism. In line with the

school fare, particularly those who were living far from the school and goes
home everyday causes to skip class. They end up to bunk class during the
times when they have no money for the transportation or even for their daily
allowance. Since they were absent and were not able to attend classes or
school activities, they were unable to catch up with the lessons and the
programs at school causing them to miss courses, trainings and experiences.

34
 CHAPTER V

This chapter discusses the summary of the study which includes the
conclusion and recommendation of the research.

CONCLUSION AND RECOMMENDATION

Conclusion

The findings of the research was all based from our findings through surveys
the researchers conducted to selected students who were identified as
financially incapable to answer specific questions regarding their major
expenses, major sources of finance and the impacts of financial incapability to
their academic performance. The three research questions were met.

On the first research question concerning on the major expenses of the

financially incapable students, the researchers concluded that financially
incapable students found school activities as an aspect that usually require
them to spend money. Melchor Memorial School, Inc. conducting and initiating
various school activities with financial requirements made the students,
especially the financially incapable ones, to perceive such activities as an
aspect wherein there money involvement is at high cost. The researchers
observed that MMSI conducts at least a single school activity, academic and
nonacademic, per month. The second major expense of the students fell in
the yearly tuition. It was observed by the researchers that financially incapable
students sometimes seek for a promissory note which only proves that they
find it difficult to pay on time even though MMSI allows them to pay it monthly.
Even though the GASTPE, a government education assistance program,
covers the most of their tuition fees, they find it hard to seek money to pay for
35
it. The third major expenses, transportation, most of the financially incapable
students spend money for going home daily. It was preceded by textbooks
and school supplies, equipment, room and board and others such as daily
food allowance. The researchers concluded that most of the financially
incapable students tend to allocate their finances on the school activity fees
and considered it as the major expenses in school.

On the second research question concerning the major sources of

finances of financially incapable SHS students of Melchor Memorial School,
Inc., the researchers concluded that most financially incapable students tend
to be dependent on their parents when it comes on seeking finances. It proved
that the root of being financially incapable is from the households of the
students. School requirements with money involved, were not able to get
fulfilled by financially incapable students due to the lack of money resources.
“Wa man abi it matao si mama”, said by a student in an interview, this
statement by a student proved that some students, especially the financially
incapable ones, were not able to pay on time because of the dependence in
seeking money resources. The second major resources of finances of
financially incapable SHS students in MMSI are their siblings who are working.
The researchers concluded that financially incapable students tend to seek for
finances to the ones closest to them.

On the third research question concerning the impacts of financial

incapability to the academic performance of SHS students in Melchor
Memorial School Inc., the researchers found out that being financially
incapable had greatly impacted the students to have less opportunities on
joining school activities, “‟Di kami kaeakot hay uwa man kami it kwarta nga
pambayad.” said by a student in an interview. Being financially incapable had
also impacted the students to experience stress and pressure to meet their

36
school requirements. Also, students who were financially incapable were not
able to pay their expenses on time. The other impacts of financial incapability
are as follows; less concentration at school, lack of project materials, students
who were financially incapable have low self-esteem, they were given less
attention and appreciation and leads to absenteeism. Researchers concluded
that financial incapability had impacted the students‟ academic performance
directly and indirectly.

The researchers concluded that financial incapability impacts the

academic performance of SHS students of MMSI. They spent a lot of finances
to the school activities and were dependent on their parents with the fact that
they ask finances from them everyday. The researchers found out that
financially incapable students were having limited opportunities in academics.
The researchers concluded that financial incapability has direct and indirect
effects among SHS students of MMSI.

Recommendations

Financial incapability has impacts to the academic performance of SHS

students of MMSI. In order to minimize the negative effects of financial
incapability to the students, the DepEd, school administration, teachers,
parents and students themselves can act upon this.

For the DepEd, they should try to conduct “Financial Assistance

Programs” that will give assistance to the SHS students financially. This could
help the students to lessen their worries with their financial requirements.
They should try to make extracurricular activities and programs more
affordable and available to a larger population of students. Also, they should
try to provide enough school equipment such as computers that will help the
students on doing their schools tasks instead of using rentable computers

37
outside the school campus and without going out from the school premises to
minimize their transportation expense.

For the School Administration, we recommend that they should try to

minimize and lessen the financial involvement to those activities that requires
finances. They should also try to provide financial assistance to students in
every extracurricular activity that the school is in. We also recommend that the
school should not practice the mandatory attendance of students on those
activities that are do not necessarily need all students to participate. We also
recommend the school administration to conduct school based financial
assistance programs to those students who are willing to excel yet unable due
to financial incapability.

For the Teachers, we recommend that they should minimize the

allocation of school projects and requirements that force students to spend a
lot of money. They should also serve as the middlemen between the students
to parents and students to school admin to help the students resolve their
financial and academic issues. We also recommend that they should provide
premium guidance among their students to ensure the emotional and
psychological aspects of their students.

For the Parents, we recommend that they should always check out on
their children‟s academic performance to know if they are performing well in
school. We also recommend that the parents should try to provide all school
necessities of their children as much as possible. They should try to consult
their children‟s teachers in order to determine the real status of their
performance at school.

For the Students, we recommend that they should learn how to budget
their finances on the most effective way without sacrificing any school
requirements. They should also try to seek out for help from their parents,
teachers and admin if they really cannot handle the situation at all. They

38
should also practice the act of being resourceful and rational, they should not
spend their finances for unnecessary materials.

Impacts of Financial Incapability to the Academic Performance of SHS

Students in MMSI

(Pre-test)

Name: __________________________________ Age:____________ Grade

and Section: ______________________________________

I. Monthly Family Income

1. Who contributes in your monthly income? How much does he/she
contributes? (name as many as you want)
Family Member/s Monthly
Contribution
Example: Father Php 4,000
_______________ _______________
_______________ _______________
_______________ _______________
_______________ _______________
_______________ _______________

II. Members in Household

1. How many are you in your household?
 3
 4
 5
 6
 7
 8
 Others: _________________

39
 Signature:______________________

Melchor Memorial School, Inc.

Laguinbanwa, Ibajay, Aklan

“Effects of Financial Incapability to the Academic

Performance of Senior High School Students‟ in MMSI”

(Survey Questionnaires)

Name(Optional): _________________________________________

Age:____________ Grade and Section:______________________ A.

Checklist:

Direction: Please check the boxes that correspond your answer.

• 1. What are your major expenses in school? (Please check three

boxes).

 Yearly tuition
 Room and board
 Textbooks and school supplies
 Equipment (eg. laptop)
 Transportation  School
activity fees
 Others (please specify):
____________________________________________________

40
 • 2. A. What/Who are your major source of finance? (Please check two
boxes).

 Parents
 Siblings who are working
 Other relatives (eg. grandparents)
 Others (Please specify):
____________________________________________________ 

2.B. How often do you ask finances from them?

 Everyday
 Every Week
 Every Month
 Others (Please Specify):
____________________________________________________

Direction: Check five (5) boxes on how does financial instability impacts your
academic performance. If none, check only none.

1. How does financial incapability impacts your academic

performance?

 None

 Causes financial stress and pressure

 Leads to absenteeism

 I am lacking project materials

 I am unable to pay for the school finances on a given due date

 Creates limited opportunities on joining advance school activities

 I am given less attention and appreciation/ unequal treatment

41
  I have low self-esteem

 Results to less concentration at school

 Others (Please specify): ___________________________

Essay:

How do you cope up with financial incapability? (Maximum of four sentences).

Signature: _____________________________ Thank

You 

42
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43