Name: Cabacang, Celia V.
Title of the Study: Financial Literacy and the Spending and Saving Behaviors of the B.S. Entrepreneurial Management Students at PUP Sta. Maria, Bulacan Campus
Variable 1: Financial Literacy
Title of RLS Locale-People-Time
Earlier financial The study was conducted
literacy and later in 2014 at a certain major
financial behaviour of state university in the USA;
college students the respondents were the
college students thereat.
A glimpse of the The study was conducted
complexity of factors in 2012 at all Estonian-and
that influence Russian-language schools
financial literacy in Estonia; the respondents
were all students from
these schools.
Financial literacy – The study was conducted
the urgent need in various schools in
today Slovakia in 2012; the
respondents were the
undergraduate students of
those schools. It was a
government project.
Research Research Problem Findings Conclusion Recommendations
Design/Methods (Summary) (Summary) (Summary)
Financial literacy was
measured by both What was the They found out that only The finding revealed that A variety of teaching
subjective and objective association of earlier subjective knowledge was financial education approaches might be used to
knowledge and financial financial literacy and correlated with the earlier programmes should focus enhance students’ subjective
behaviours were later financial financial literacy and later on more than enhancing knowledge (i.e. one’s
categorized into risky behaviour of college financial behaviour of objective financial confidence or ability to apply
paying and borrowing students? students. knowledge among young objective knowledge).
behaviours. adults.
The link between financial
The datasets of What are the factors The impact of student literacy and the number of Policymakers should take a
questionnaire for students behind the differences background and influence books at home might step back and consider the
were conducted. Blinder- in financial literacy from home were imply that well-read extent of their understanding
Oaxaca decomposition when financial analysed. The strongest students and children of of the factors preventing
technique for linear education is not positive impact on the families with more interest individuals from making wise
regression models was provided? financial literacy score in cultural issues are financial choices.
used. was related to having better prepared for the
more books at home. challenges of making
wise financial choices in
our modern society.
Financial literacy means Financial literacy is not an
An extensive survey was What is financial having an ability to absolute state; it is a Besides having the right to
conducted to determine literacy? What are the understand basic financial continuum of abilities that access to financial literacy, it
the level of financial indicators of financial products people deal with is subject to variables is also a person’s
literacy of undergraduate literacy? in their everyday lives that such as age, family, responsibility to get familiar
students in Slovakia with considerably affect their culture, and residence. It with it as well as to transform
focus on the study fields economic situation and plays an important role it into their day-to-day life.
of economics and welfare. Financial literacy being a gate pass to
management. is achieved through education, ability to gain
financial education. The and process necessary
 indicators of financial information or deal with a
literacy are: management variety of other everyday
of finances, planning of life issues.
financial income and
expenses; and choice of
suitable banking products
Descriptive method was
Personal Financial The study was conducted used with stratified What is the level of This research revealed The family (parents) A separate research should
Literacy Among in 2012 at Padjadjaran random sampling personal financial that the level of personal remain the most important be developed pertaining to the
Students at University in Bandung, techniques. literacy of students at financial literacy of source of knowledge following: a) the influence of
Padjadjaran Indonesia. The Questionnaires were Padjadjaran students was within the about managing personal financial on personal attitude,
University in respondents were from the used to collect data from University? low category, especially finances. They play a vital behavior and worth; b)
Bandung, Indonesia said school. the respondents. The for the areas of: savings, role in setting an example financial literacy in the
data collected was then investment, credit, and to the respondents in workplace and its effect on
analysed by logistic insurance. terms of personal work productivity, loyalty and
regression. financial management. attendance
Financial literacy was This study revealed that
Financial Literacy The study was conducted measured in three ways: What is the there is a strong and The results of this study Policy makers should consider
and Long- and Short- in 2016 in 50 US states objective financial relationship between positive relationship of suggest that financial a tailored approach in
Term Financial and the District of knowledge, subjective financial literacy and objective financial knowledge plays an handling financial issues by
Behavior in Different Columbia. The financial knowledge or financial behaviors knowledge with long-term important role for young age group. A one-size-fits-all
Age Groups respondents comprised of confidence, and among various age behaviors in the older age adults as well as those in approach is not ideal to meet
various age groups. subjective financial groups? groups; there is a higher midcareer. Confidence the needs of Americans of
management ability. The subjective financial and subjective ability various ages. Policy makers
age groups were 18–24, Long-term financial knowledge or confidence played an important role should support educational
25–34, 35–44, 45–54, behavior referred to level for short-term as well. Indeed, in the initiatives that reach out to
55–64, and 65 and older. retirement saving and behaviors in the younger younger cohorts, various age groups, meeting
The questionnaire was investing behavior, age groups. For confidence building may the needs of a varied
administered on a state- whereas short-term subjective financial ability, be an important factor in consumer population in ways
by-state basis to achieve financial behavior young adults moving back financial education. that sweeping regulatory
approximately 500 referred to spending in with their parents have policy cannot.
observations from each and emergency saving created a shift in the
US state and the District behavior. American society that
of Columbia. likely will influence their
financial futures.
Related Literature and Studies (RLS)
Variable 2: Spending and Saving Behavior
Title of RLS Locale-People-Time
Gender differences This study was conducted
in saving and in 2013 at the Bangkok
spending behaviours University in Thailand. The
of Thai students respondents were the
students of the said school.
This study was conducted
Spending & Saving in 2014 in Aurangabad
Habits of Youth in City, Maharashtra, India.
the City of The respondents were
Aurangabad students from the junior
colleges, graduate colleges
and postgraduate colleges
thereat.
Research
Design/Methods
An exploratory study
where a questionnaire
was used to collect
information from 455
students. The data were
analysed using a Fisher
exact test and a t-test for
two independent
samples.
Primary data on spending
in different categories of
youth like shopping,
movies, fast food, alcohol
etc. was collected and
analysed using various
statistical and research
tools. ANOVA and T-test
Research Problem Findings Conclusion Recommendations
(Summary) (Summary) (Summary)
Females had more Most Thai parents choose to
What are the Females had more positive attitude towards shield their children from
differences in spending positive attitude towards saving than males financial worries. However,
and saving behaviors saving and shopping than because Thai parents because the children are
between male and males; females were raise male and female given money without having to
female Thai students? more concerned about children differently. work, this can contribute to
being rich or having a lot Parents tend to restrict bad spending habits. It would
of money than males; their sons less than their be beneficial if Thai parents
males had more positive daughters. encourage their children to
attitude towards spending earn money so as to learn the
money than females. The findings that male ‘value of money’. By so doing,
students were less teenagers could grow up to be
interested in being rich more responsible adults.
than female students was
unexpected. One of theStudents can be provided with
reasons to support this
the knowledge and skills to
was the changing role of
deal with their finances.
women. Nowadays, Parents should discuss
females are more financial management
involved with various practices with their children
aspects of family finance.
when they are young, while
schools and universities could
develop financial education
programmes for teenagers.
Youth spend large portion It is suggested that the habit
What is the spending of their money on Low level of financial of savings and investment
pattern of three groups shopping, fast food and awareness or literacy was should be imbibed from the
(junior college, mobiles. Girls do not seen as far as savings or very beginning of educational
graduate, post- spend at all on alcohol or investment is concern journey. The students should
graduate) of students tobacco, but they spend among the respondents get themselves literate about
in Aurangabad City? more in cosmetics, beauty importance of savings and
care and shopping. investment; they should learn
 were used to analyse None of the boys in junior various kinds of investment
whether significant college invest/save options and plan the
difference exists between money; they tend to investment accordingly.
spending patterns of spend money on
different groups and the shopping, eating out,
genders. It was found that liquor and the likes.
students belonging to
different education levels
differ significantly in
spending in many
categories
The economic life-cycle
Does the Economic This study was conducted Participants completed a What is the financial Students who were theory does not take into Future research could gather
Life-Cycle Theory in 2013 at the Connecticut survey including three behavior of college confident financially wereaccount the difficulties a more extensive amount of
Really Matter? College, USA. The quantitative measures on students and recent more responsible with people have with data about students and
Saving and respondents were from the credit card use, financial alumni of Connecticut their credit cards and continuously adjusting alumni and run regression
Spending Habits of college students and 2012 well-being, and attitudes College as it relates to more tolerant of debt. their behavior. The analyses in order to attempt to
College Students alumni of the said school. toward debt, as well as an Economic Life-Cycle theory may make sense find what factors may predict
extensive demographic Theory? theoretically and provides whether someone is at risk of
questionnaire regarding a good model off of which getting into severe debt.
spending and saving to base financial In addition, it would be helpful
habits. behavior, but because to hold focus groups to get a
people are not always sense of current students’
economically rational financial concerns.
actors, it is not upheld in
everyday life.
This article argues that A number of Americans Self-control problems While there may well be
Saving, Spending, This article was presented This study was presented the behavioral do not have self-control in seem common not interesting cognitive
and Self-Control: in 2007 by Martha Starr in 2007 by Martha Starr emphasis on cognition spending because the because they figure dimensions of the problems of
Cognition versus using a number of using a number of overlooks the extent to American culture itself intrinsically in the spending, saving, and self-
Consumer Culture researches previously researches previously which issues of self- fosters the behavior of dynamics of consumption control, these problems are as
conducted. conducted. control are framed, overspending and credit behavior, but rather rooted in the economy,
elaborated, and card use. As a result, because they appear with society, and culture of
sustained as saving is often taken for regularity in contemporary capitalism as
problematics of granted. representations of they are in the human mind.
contemporary consumption in Condition the human mind on
 consumer culture. As contemporary culture, how to develop self-control to
such, they are rooted working to naturalize foster wise saving and
as much in the social, ideas of occasional spending behaviors.
cultural, and economic lapses in restraints on
dynamics of capitalism saving and spending.
as they are in the
human mind.
Findings of this study Parents should know their vital
The Effect of Family, This study was conducted Considered relationships What is the effect of revealed that family, peer, The impact of the study role in the financial life of their
Peer and Saving and in 2018 in Kedah, Perlis, were tested using survey family, peer, saving saving and spending lies in determining the children and should take more
Spending Behavior Perak, Johor and Kuala response from Kedah, and spending behaviors among the influence of population powerful role in strengthening
on Financial Literacy Lumpur in Malaysia. The Perlis, Perak, Johor and behaviors on the young generations in factors, behaviour, their children’s financial
among Young respondents were students Kuala Lumpur, with a financial literacy of Malaysia are significantly parental factor, peer education. It is also
Generations from the selected schools sample of 500 young generations in related to Financial influence and financial recommended that the
thereat. respondents. Malaysia? Literacy. The results fulfilment towards government play their role in
revealed a positive financial literacy. promoting financial literacy
relationship. measures in Malaysia.

Both Variables
Title of RLS Locale-People-Time Research Research Problem Findings Conclusion Recommendations
Design/Methods (Summary) (Summary) (Summary)
The Impact of This study was conducted A survey was conducted What is the impact of Results revealed that the Financial literacy is an Results of this study suggest
Financial Literacy on in 2013 in Klang Valley, to determine the financial literacy on level of financial literacy important determinant of that it is important for
Individual Saving: An Malaysia. The respondents relationship of financial individual saving in had a significant, positive individual saving. policymakers to increase the
Exploratory Study in were the respondents literacy on individual Malaysia? impact on individual Financial literacy has financial literacy of
the Malaysian thereat. saving. Other saving. In addition, saving been found to be households by implementing
Context determinants of individual regularity, gender, income positively related to the various financial education
saving were also and educational level probability of having programmes, to further
examined, in particular, influenced the probability positive saving amongst influence saving rates at the
saving regularity, risk- of saving positively. individuals, ceteris national level.
taking behaviour, and paribus.
socio-demographic
characteristics.
 Teacher participants
Teachers’ This study was conducted The Index of Community What are the practising While more than 75% of seemed to distinguish The findings recommend a
Perceptions of in 2017 in Catholic and Socio-educational teachers’ perceptions the teacher participants between being financially need to educate teachers to:
Financial Literacy government-sponsored Advantage (ICSEA), of the opportunities for agreed or strongly agreed literate themselves and reflect upon the knowledge,
and the Implications primary schools in Victoria, created by the Australian financial literacy that they were financially having curriculum and skills and capabilities required
for Professional Australia. The respondents Curriculum, Assessment teaching and learning? literate, only around half pedagogical knowledge to make informed financial
Learning were teachers thereat. and Reporting Authority indicated being confident and skills to teach decisions; identify and
(ACARA), was used to about teaching financial financial literacy to interpret the possibilities for
understand the literacy focusing on wise students. Pre- financial literacy teaching and
socioeconomic profile of spending and saving intervention, the vast learning in the Australian
the school teachers and behaviors. majority signalled an Curriculum; and enact
communities. interest in further sophisticated pedagogical
professional development practice as well.
about teaching financial
literacy.

References in APA Format

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