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Budgeting is the process of creating a plan to spend your money. This spending plan is called
a budget. Creating this spending plan allows you to determine in advance whether you will have
enough money to do the things you need to do or would like to do. Basically, it's making sure that
you're spending less than you're bringing in and planning for both the short- and long-term.
If you don't have enough money to do everything you would like to do, then you can use this
planning process to prioritize your spending and focus your money on the things that are most
important to you.
Budgeting is simply balancing your expenses with your income. If they don't balance and you
spend more than you make, you will have a problem. Many students don't realize that they spend
more than they earn and slowly sink deeper into debt every year.
Unfortunately, many of them think of budgeting as depriving themselves and they avoid it like
they do a diet. However, just like a diet is really just a program for eating, budgeting is just a program
for spending. If you are hitting a mental roadblock when you hear the word "budget", just call it by a
different name, such as "personal financial planning." That's what budgeting is, after all. It's a
proactive approach, rather than a reactive approach, to managing your money.
Budgeting is an important component of financial success. It's not difficult to implement, and it's
not just for people with limited funds. Budgeting makes it easier for people specially students with
expenses of all sizes to make conscious decisions about how they'd prefer to allocate their money. It
can also help people save for projects or for future
The method which grade 10 students bring about to manage their money is based on numerous
factors and aspects such as age, awareness, personality, understandings, mannerisms, and
knowledge. Grade 10 students are in a unique situation because they have high expenses and some
have restricted incomes for those who are working students; therefore they manage their money in a
different way. The more knowledge students have about their financial responsibility and status the
less likely they are in debt.
There are many group of students that accumulate and perceive liability differently, for example,
how they used money. Women are more likely to report having a budget than men, but women more
frequently accumulate higher amount money debt and total debt.
Since budgeting allows you to create a spending plan for your money, it ensures that you will
always have enough money for the things you need and the things that are important to you.
Following a budget or spending plan will also keep you out of debt or help you work your way out of
debt if you are currently in debt.
Student budgeting is a immense sector that comprises the entire budget system with its
components. It has been a subject of various analyses and studies over the time and it still represents
a vital segment in the structure of a student and its development. Due to its large spectrum, the
focus of the work is strictly centered on the importance of exercising an efficient and effective
budget mechanism that would ultimately lead to a healthy functioning budget system.

Budgeting represents a complex exercise that includes understanding, economic and

financial factors and it involves the implication at all levels of student structure authorities. It is
situated in the center of the parents and the development outlook of a student.

The paper provides a comprehensive and analytical insight of the budgetary process
and the existing budget practices from the students experience perspective. It offers detailed
practical review of the budget mechanisms and techniques used in designing the budget
system. Furthermore, it provides an analytical review of the Quezon City High school students
current budget system by presenting the evolution of the budget development, the existing
budget procedures used within the budgetary process cycles and the core features of the strategic
budget planning and the output-oriented management system.

In this study, we are working to ascertain the method of grade 10 students in disbursing their
money, the barriers and challenges they faced in allocation practices, and what provision they carry
out implemented that they identify as effective. We intend to examine the Grade 10 students level of
use, or lack thereof, in determining budget allocations.
This information can help the readers to understand the Grade 10 learners’ prior usage and
determine the optimal level of change necessary to improve the budgeting performance management
The paper provides a comprehensive and analytical insight of the budgetary process and
the existing budget practices from the Grade 10 students experience perspective. It offers detailed
practical review of the budget mechanisms and techniques used by Grade 10 students designing the
budget system.
Overall, the concepts are considered to be essential and imperative developments for
improving and modernizing the students finance management. The thesis is structured into two
large segments–the general view of every student’s budgeting with its components and the
analytical study case on Grade 10 students public budgeting exercise.
Taking cognizance of the above, the research problem can be epitomized by means of the
following questions:
1. Are grade 10 students encounter budgeting distress?
2. What is the difference of male and female students in allocation practices?
3. What are those factors that affect the budgeting patterns of a student?


The researcher assumed that this study would be favourable to the following:
Parents, the parents will be aware where do their child spend their money and how many
percentage do they placed for saving
Students, the students are guaranteed to be cognizant of efficient way of spending factors to create a
prolific outcome for budgeting allocation and to have a decent learning and developing behaviour to
acclimate not just in school but for the other works that can help to progress individual.
Future Researchers, the future researchers can use this inquiry study as an orientation concerning
on studying student’s motivational factors.

Scope of the Research: The research has the following scope:
1. The research would highlight the budgeting of a certain Grade 10 students in QCHS.
2. The research would enumerate the factors that affect the budgeting of each student.
3. The research would also point out the perception of learners on budget allocations
Limitations of the Research: In spite of best of efforts to minimize all limitations that might
creep in course of the research, there were certain constraints within which the research was
completed. These are discussed below:
1. The research will just focused on selected students on Grade 10.


Allocation an authorization to incur expense or obligation up to a specified amount, for a
specific purpose, and within a specific period. In general sense, distribution of
limited resources among competing requirements for employment.
Disbursement Payment or outlay by cash, check, or voucher. Payment by an agent or
professional on behalf of a principal or client who is presented with a bill for its
Debt something, typically money, that is owed or due. an amount of money borrowed
by one party from another. Many corporations/individuals use debt as a method
for making large purchases that they could not afford under normal
circumstances. A debt arrangement gives the borrowing party permission to
borrow money under the condition that it is to be paid back
Expense the cost required for something; the money spent on something. For students or
parents, tuition is an expense. Buying food, clothing, furniture or an automobile is
often referred to as an expense. An expense is a cost that is "paid" or "remitted",
usually in exchange for something of value. Something that seems to cost a great
deal is "expensive". Something that seems to cost little is "inexpensive".
Budget Is a topic which attracts a lot of researchers, so there are many books, articles
and respectively many definitions related to that. According to Certified Institute of
Management Accounts (CIMA) a budget is “quantitative expression of a plan for
defined period of time. Therefore, to call a plan- budget, it must comprise the
quantities of economic resources to be allocated and used; it must be made for
certain period of time.

According to (Norvilitis et al., 2006) Increased knowledge of financial matters enhances an individual’s
ability to make informed decisions about how to control and manage their finances. Financial
knowledge has implications for how individuals spend, save and invest money, as well as how they
budget and set monetary goals. Research shows that lack of financial knowledge is related to debt
The studies of money attitude among university students indicate that males and females
understand money differently. Previous researchers who have examined the relationship
between sociodemographic variables and money attitudes concluded that males and females
have different beliefs about money (Allen et al., 2008; Hayhoe et al., 2000),stated
According to (Lusardi & Mitchell, 2011; Mottola, 2013), While the increased participation of women in
higher education brings with it the promise of better economicwelfare, the issue of women’s ability in
money management and financial behvaiour remains a concern due to women’s low level of financial
literacy their lower financial management skills (Hung, Yoong, & Brown, 2012) and their negative
attitude toward money (Borden, Lee, Serido, & Collins, 2008). These gender differences in principal
financial skills may result in differences in financial behaviour between the two genders and in
differences in money management and levels of financial wellbeing between male and female college
According to(Hunt & Eisenberg, 2010; Zivin, Eisenberg, Gollust, & Golberstein, 2009 The period of
young adulthood is commonly associated with an increased risk of mental health problems). It is also
a period of significant life transition typically marked by an increase in financial responsibility. A review
of existing literature on debt and mental health of college students suggested there should be an
increased focus on the study of financial and psychological wellbeing of college students.Assessment
of statistics in financial matters indicate that males and females have different levels of financial
knowledge, money attitude and financial management, with females having lower levels in all items,
and therefor they perceive different levels of financial wellbeing as well. Previous studies confirm the
assumption that differences inthe socialization process (Gutter, Garrison, & Copur, 2010; NewComb
& Rabow, 1999; Shim, Xiao, Barber, & Lyons, 2009) result in differences in financial matters and
therefore women are more dependent on men in financial decisions.
According to(Joo, Durband, & Grable, 2008) Financial stress has also been linked to academic
performance. Another study of British university students found that poor mental health status was
related to financial stressors such as having difficulty paying bills on time (Roberts, Golding, Towell, &
Weinreb, 1999)
Debt has been found to be related to lower perceived financial well-being and higher stress levels
among college students (Norvilitis et al., 2006; Norvilitis, Szablicki, & Wilson, 2003) stated.
Financial mental health has recently become a growing topic of interest among researchers.
However, practitioners have long been encountering clients who have financial problems that impact
their cognitive, emotional, and relational well-being. The most recent research on the topic of financial
mental health has been related to financial disorders and money scripts (Klontz, Britt, Archuleta, &
Klontz, 2012; Klontz, Britt, Mentzer, & Klontz, 2011; Klontz, Kahler, & Klontz, 2008) stated.
According to (Grable & Joo, 2006; Joo, Grable, & Bagwell, 2003; Norvilitis et al., 2006; Perna, 2008).
Financial stress and anxiety can also be seen as aspects of financial mental health. Although sparse,
research has linked financial stress and anxiety with college student debt The current study
explained the existing literature related to students’ financial mental health. More specifically, the

purpose of the study was to explore the associations of students’ financial anxiety, in particular the
influence of debt.
According to (Hilgert, Hogarth, & Beverley, 2003; Perry & Morris, 2005). Norvilitis and MacLean
(2010) Research studies typically operationalize financial knowledge through measures related to
either general financial knowledge or specific areas of financial knowledge (e.g., credit card annual
percentage rate). Financial knowledge is associated with a variety of financial behaviors such as
cash-flow management, credit management, saving, and investing ] found that college students’
financial knowledge was a predictor of debt and overall financial well-being.

This portion of this study is the momentary discussion of the defendant, instrument used and
how the data gathering was done. And also deliberates formula to be able to formulate the data.
Quantitative research is used to quantify the problem by way of generating numerical data or
data that can be transformed into useable statistics. It is used to quantify attitudes, opinions,
behaviors, and other defined variables – and generalize results from a larger sample population.
Quantitative data collection methods include various forms of surveys – online surveys, paper
surveys, mobile surveys and kiosk surveys, face-to-face interviews, telephone interviews, longitudinal
studies, website interceptors, online polls, and systematic observations.
The accomplices of this research was the Grade 10 students of the Quezon City High School
for the school year 2015-2016 and by means of the fish bowl technique we indicated the Grade 10-
A 15 question survey were developed and will be distributed to the students of Grade 10-
Gomez, which were related to the participant’s perception about budget allocations.

The researchers first use a fish bowl technique to pick out a certain section. After using the fish
bowl technique, the researchers are now going to ask an authorization to the teacher in charge to
conduct a survey in his/her class. Once the researchers have given permission, the researchers are
now going to elucidate the instruction to each respondent and then distribute the survey
questionnaires and give each respondent 15 minutes to retort the survey forms. After 15 minutes, the
researchers are now going to gather the entire survey questionnaire to the respondents. After
assembling the survey forms, we are now going to formulate the data.

The researchers used the formula of Sloven to get the percentage of the data needed for this
study about Budget Apportion and Disbursement patterns of Grade 10 Students.
𝑃= × 100%
N= total population of Grade 10 – Gomez
E= students who have knowledge about budgeting


This part showed the discussion of tables and graphs based on the survey that the researcher made.

8 Age of the Respondents
15 years 16 years 17 years 18
old old old yearsold

Figure 1. Age of the Respondents

The Figure 1 showed the age of the respondents. The research population had 37 respondents
through random sampling, 16 or 43.24% of the respondents were 16 years old while 13 or 35.13% of
the respondents were 15 years old. However, 5 or 13.51% of the respondents were 17 years old and
3 or 8.1% of the respondents were 18 years old. The study showed that the grade 10 students had
different ages.

Gender Result Percentage

Male 16 43.25%
Female 21 56.75%
TOTAL 37 100%
Table 1. Gender of the Respondents
The table 1 showed that the respondents of this study had 21 or 56.7%were made female and
16 or 43.24% were male.




Figure 2. Respondents who received Allowances

The figure 2 showed that all of the respondents were receiving allowances.

30 26

Figure 3. How often the respondents do received Allowance

The Figure 3 showed that 26 or 70.27% of Grade 10 received allowances daily while 11 or
29.72% received allowances weekly. However, none of the respondents received allowances

Result Percentage
Saver 16 43.25%
Spender 21 56.75%
TOTAL: 37 100%
Table 2. Respondents who are Saver or Spender
The table 2 showed that 56.75% or 21 of the respondents were savers. However, 43.25% or
16 of the respondents were spenders.




Figure 4. Respondents who encounter budgeting Distress

The Figure 4 displayed that 29 or 78.38% of the respondents were encounter budgeting
distress while 21.62% or 8 of the respondents were not encounter budgeting distress.




Figure 5. Budgeting Distress affect Respondents Academic performances

The Figure 5 indicated that 25 or 67.57% of the respondents said that budgeting distress did
not affect Academic Performance. However, 12 or32.43% of the respondents affect Academic

Result Percentage
Necessities 19 51.35%
Wants 28 75.67%
Table 3. Where do respondents spend mostly allowances
The Table 3 bared that 28 respondents or 75.67% spend allowances for Wants. Consequently,
19 respondents or 51.35% spend allowances for Necessities.

Percentage Result
50% 3
20% 11
10% 23
Table 4. Saving Percentage of Respondents

The Table 4 showed that 23 respondents placed 10% of allowances for savings despite the
fact that 11 respondents placed 20% of allowances for savings. On the other hand, 3 respondents
placed 50% of allowances for savings.




15 12

5 3

Food Transportation Projects Computer Load Others

Figure 6. Where do respondents spend Allowances

The Figure 6 showed that the respondents spent most of the allowances to the food with a
percentage of 30.76% or 36 respondents while 31 or 26.49% were spending it for transportation, then
29 respondents or 24.78% in the project in school. However, 12 or 10.25% of the respondents spent it
on computer shop and 9 said that through cellphone loads.

Result Percentage
Understanding 8 21.62%
Wealth 26 70.27%
Age 4 10.81%
Mannerisms 10 27.03%
Awareness 9 24.32%
Table 5. Factors that affect Respondent’s budgeting
The Table 5 showed that 26 or 70.27% of respondents said that Wealth affects budgeting
allocation while10 or 27.03% of the respondents said that Mannerisms affects budgeting allocation.
However, 9 of the respondents with a percentage of 24.32% said that Awareness affects budgeting
allocation then 8 or 21.62% said that it is understanding and 4 or 10.81% said that it is Age.



Series 1
10 8

5 3
Extremely Somewhat Not Really Never

Figure 7. Respondent’s knowledge about budgeting

The Figure 7 showed that 25 respondents or 67.56% had a slightly knowledge about budgeting
while 21.63% or 8 respondents had a little knowledge about budgeting. However, 3 or 8.11% of the
respondents had an extreme knowledge about budgeting.


1. Most of the respondents are 16years old.
2. Many of the respondents were female.
3. All of the respondents in this study received allowances.
4. Most of the respondents received allowances daily.
5. A lot of the respondents were Spenders.
6. Greatest of the respondents encountered budgeting distress.
7. Budgeting distress didn’t affect maximum of the respondent when it comes to academic
8. A lot of respondents spend allowances on wants.
9. Many of the respondents placed 10% of allowance for Savings.
10. A lot of the respondents spent allowances to the food and transportation while very few of the
respondents spent for personal usage.
11. Several of the respondents said that Wealth affects budgeting allocation.
12. A number of respondents had slightly knowledge about budgeting.
The researchers of this study recommend training and seminar for all Grade 10 students about
handling properly the allowances that have receive from parents or guardians. Based on the results of
this research, it can easily identify that most of the grade 10 students didn’t know how to properly
manage the allowances that have receive from parents or guardians. So it is highly recommended to
spend some time researching the best training events for the students. There are plenty of
conferences, seminars, trainings, exhibitions and networking events for the students. Having trainings
or attending a seminar where experts are speaking will allow the students to ask some questions. The
students can also ask for advice and possibly make a connection that can take advantage of in the


 Norvilitis, J. M., Merwin, M. M., Osberg, T. M., Roehling, P. V., Young, P. and Kamas, M. M.
(2006), Personality Factors, Money Attitudes, Financial Knowledge, and Credit-Card Debt in
College Students. Journal of Applied Social Psychology, 36: 1395–1413. doi: 10.1111/j.0021-
 [Leila Falahati, A Comparative Study in Money Attitude among University Students: A
Gendered View. Journal of American Science 2011;7(6):1144-1148]. (ISSN: 1545-1003).
 Asian Social Science; Vol. 11, No. 4; 2015 ISSN 1911-2017 E-ISSN 1911-2025 Published by
Canadian Center of Science and Education
 Journal of Financial Counselling and Planning Volume 24, Issue 2 2013