Chapter I

The Problem and its Setting

Introduction

Money has helped shape the world as it is today. But as people handle money,

there is the risk of squandering it all in just a snap of the fingers. Money has become a

must. The sad truth is that everything in life has a price; it all costs money, and pretty

expensive as well. Water, food, shelter, clothing, equipment, literally everything

(Shongwe, 2017). What’s even sadder is that earning money is so hard that one has to

work day and night for a salary, often not enough for one’s daily expenses. In 2015,

21.6 percent of Filipinos were estimated to be in poverty (PSA, 2016).

The problem in today’s world is that the prices of different products are

continuously increasing due to the corruption of the people and the economy’s inflation

rate, which in the Philippines registered at 1.9 percent, according to the PSA. Students

are also affected, as some cannot afford products due to limited money or allowance.

An allowance is an amount of money given or allotted usually at regular intervals for a

specific purpose. In the case of students, students regularly need to buy ballpoint pens,

paper, notebooks, and other school-work materials for their personal use. It would be

important to note if some students are spending too much of their money without

considering the consequences.

In this study, the researchers decided to conduct a study into how students of the

Accountancy, Business, and Management (ABM) strand, more specifically those from

Calbayog City National High School, were using their money. According to College

1
Choice there are 7 major expenses that students are possibly spending their money on:

Tuition, Room and Board, Textbooks and School Supplies, Equipment (such as laptops,

bond papers, etc.), Personal Expenses (clothing, groceries, etc.), Transportation,

School and Activity Fees (Alder, retrieved 2019). This study was intended to figure out

how much ABM students spend in various areas of expense, and what could be inferred

from the gathered financial behavior of these students.

2
Theoretical Framework

Financial management is a complex set of behaviors and decisions that vary in

their importance and ease of implementation according to an individual’s or family’s

needs, priorities, and skills. Individuals and families are ready and able to change

different behaviors at different times and different reasons (Prochaska-Cue, 1993;

Shockey and Seiling, 2004). As a metaphor, each model or theory regarding financial

behavior provides a different roadmap of the financial behavior territory (Redding,

Rossi, Velicer, and Prochaska, 2000).

These theories provide insight into specific fields: psychologically, sociologically,

and economically. Specifically, these are: the Theory of Reasoned Action/Planned

Behavior (TRA) by Martin Fishbein and Icek Ajzen; Social Cognitive/Learning Theory

(SCT) by Albert Bandura; Socialization Theory (ST) by George Herbert Mead; and

Consumer Information Processing (CIP) Theory, by George Miller. One aim of this study

is to see how ABM students are affected by these theories.

The Theory of Reasoned Action (TRA) is a widely used behavioral prediction

theory which represents a social-psychological approach to understanding and

predicting the determinants of health-behavior. It states that the intention to perform a

particular behavior is strongly related to the actual performance of that behavior. An

individual's attitudes toward a financial behavior are determined by his/her expectations

about the outcome of performing the behavior, and the extent to which s/he values the

outcome. Therefore behavioral beliefs can be used to help people’s financial behavior

change. (Ashing-Giwa, 1999; Redding et al, 2000; Family Health International, 2008).

3
 Socialization Theory can be applied to financial behavior change in terms of self

–efficacy. The importance of self-efficacy for behavior change has been widely

recognized across multiple behaviors relevant to financial risk reduction (Redding, et al.

2000). Additionally, a person must value the outcomes or consequences that s/he

believes will occur as a result of performing a financial behavior or action. Self-efficacy

refers to one’s confidence in the ability to take financial action and persist in action

according to socialization theory. Bandura (1989) has seen this theory as perhaps the

single most important factor in promoting changes in behavior. Thus, it can be used to

help people in promoting financial behavior change. Self-efficacy is one of the key

concepts SCT have also been identified as key determinants of movement through the

stages of behavior change (Oldenburg, 1999). Behavior change can depend on self-

efficacy in SCT includes some important determinants such as (i) the choice of activities

in which people engage in terms of financial behavior, (ii) how much energy they will

expend on such activities and (iii) the degree of persistence they demonstrate in the

face of failure and/or adversity.

The concept of socialization covers the acquisition of the knowledge, skills and

values that make it possible for an individual to live and interact with others in the social

system. Socialization is often viewed as a social process by which norms, attitudes,

motivations, and behaviors are transmitted from specific sources to the learner (Hira,

1997).

Socialization is a financial learning process. According to Danes (1994), financial

socialization is: much more inclusive than learning to effectively function in the

marketplace. It is the process of acquiring and developing values, attitudes, standards,

4
norms, knowledge, and behaviors that contribute to the financial viability and well-being

of the individual.” Children learn about finances through observations, positive

reinforcement, practice and participation, and deliberate instruction by parents. Direct

influences such as family discussions and keeping track of allowance could consist of

an

increase in knowledge and formation of attitudes, values, and behaviors (Moschis and

Churchill, 1978).

Consumer Information Processing Theory (CIP) can be applied to help people for

providing the most important and useful information to financial behavior change.

Application includes five steps as following: (i) information processing capacity: Choose

the most important and useful points to communicate, whether orally or in print

materials for financial situations, (ii) information search: Provide financial information so

it takes little effort to obtain, draws consumer's attention, and is clear, (iii) decision

rules/heuristics: Learn key ways to synthesize financial information in ways that have

meaning and appeal for your audience (iv) consumption and learning: Keep in mind that

people have probably made related financial choices in the past, and are not 'empty

vessels' (v) information environment: Design financial information tailored to the

audience; place it conveniently for use (National Institutes of Health, 2008).

5
Related Literature

Financial behavior (FB) can play a pivotal role in influencing the welfare of

individuals in a household, society, nation and the world at large. A set of observable

financial activities by economic agents best describes FB. Such evident behavior is

mainly influenced by one’s identity, wants, knowledge, performance, achievement,

personal characteristics, significance and psychological factors (Bergner, 2011; García,

2013). Individuals who exhibit financial knowledge and can execute financial activity to

improve their welfare are known to be financially literate. The quest to understand what

drives FB is invaluably critical, especially considering the advent of financial crises,

which generally negatively affect the welfare of individuals across the social divide

(Bernanke, 2006).

With the expansion of educational services in Malaysia, which tripled the number

of college students in two recent decades (Economic Planning Unit, 2006) university or

college students have become an important consumer market segment. However there

has been limited research on financial behavior (e.g. savings and indebtedness) and

problems among Malaysians, especially college students, since the concern over the

role of young consumers is relatively new. Understanding whether and how financial

literacy may influence savings and specific kinds of financial problems will be useful in

efforts to design more effective financial education programs to prepare not only young

Malaysians, but also Filipinos, to be effective personal financial managers when they

enter the job market and start their own families.

6
Related Studies

Studies in the United States and other countries indicated that college students

had plenty to spend but they also had low levels of financial literacy and tended to be

impulse consumers (e.g., Danes, Huddleston, & Boyce, 1999). A similar situation exists

in Malaysia. Sabri, MacDonald, Hira, and Masud (2010) established that Malaysian

college students also had low levels of financial literacy, and that their literacy was

related to their ethnicity, childhood consumer experience, and whether they attended

private, versus public institutions. This study, conducted in 2019, observed a similar

situation in financial behavior, but in the case of Filipino senior high school students

under the Accountancy, Business and Management (ABM) strand within Calbayog City

National High School (CCNHS), a public institution. In addition, this study mentioned

recommendations to improve on the situation.

Although there are some studies of the influence of financial education on

savings behavior (Bernheim, Garrett, & Maki, 2001; Peng, Bartholomae, Fox, &

Cravener, 2007) that research has not examined the role of financial knowledge while in

college, and most studies of financial problems of college students (e.g. Lyons, 2004) or

of their financial practices (Lawrence, Cude, Lysons, Marks & Machtmes, 2006) have

not linked those problems or practices to financial knowledge. Hence this study may be

the first to connect ABM students’ financial literacy directly to their savings behavior and

financial problems. Demonstrating such a link and characterizing its importance relative

to other influences could provide evidence for expanding campus financial education

efforts.

7
 Conceptual Framework

Figure 1. The conceptual paradigm that shows the flow of the study.
INPUT PROCESS OUTPUT

1. Profile of the ABM

students in terms of:
1.1. Age;
1.2. Section;
1.3. Gender;
1.4. Social Class;
and
1.5. Allowance. Standardized set of Propose a two-day
2.Financial behavior of
interview questions asked seminar workshop as
ABM students in terms of:
to two randomly selected recommendation to
2.1. Personal
Expenses; students from each ABM improve the financial
2.2. Transportation; classroom. behavior of ABM students.
2.3. Food;
2.4. Savings;
2.5. School
Supplies; and
2.6. School/Class
Projects.

Above is a graphical representation of the different concepts in the study. To

begin, the profile of the participants consisted solely of ABM students from Calbayog

City National High School, Grades 11 and 12, of the school year 2018-2019.

8
 The data obtained by the researchers depended on what these participants

answered in the interviews, further reinforcing the researchers’ attempt to observe how

the theories aforementioned affect ABM students.

Statement of the Problem

Accountancy, Business and Management students, being under a curriculum that

teaches subjects like entrepreneurship, accounting, etc., are assumed to be well versed

when it comes to managing their money. The big question, was whether or not that was

true.

Specifically, the study sought to answer the following questions:

1. How is the financial behavior of Accountancy, Business and Management students

affected by their profile in terms of:

1.1. Age;

1.2. Section;

1.3. Gender;

1.4. Social Class; and

1.5. Allowance?

2. How do the ABM students handle money in terms of;

2.1. Personal Expenses;

2.2. Transportation;

2.3. Food;

9
 2.4. Savings;

2.5. School Supplies; and

2.6. School/Class Projects?

3. Based on the findings of the study, what recommendations or programs can be

proposed by the researchers to improve the financial behavior of ABM students?

Scope and Delimitations

This study was a qualitative research focusing on the financial behavior of Grade

11 and Grade 12 students of Calbayog City National High School under the

Accountancy Business and Management (ABM) strand, of the school year 2018-2019,

from classrooms in both Calbayog East Central School and Calbayog City National High

School – Main campuses, which were selected due to closer proximity to the

researchers than other schools. These ABM students participated in the study, which

was conducted in early February of 2019.

In addition, the study delimited itself to the financial behavior of ABM students

only, and did not include students from other strands as participants. Also, the study

was not delimited by the participants’ socioeconomic status. However, the method of

data gathering was delimited to interviewing of the participants.

10
 Chapter 2

Methodology

This chapter presents the designs used to form this research, the studying of the

participants, the data gathering process and the instruments, procedures and data

analysis that were used in the research.

Research Design

The researchers utilized a narrative design for this study to acquire information

from the participants. It would determine the causal relationship between the financial

behavior and the profile of the participants. In addition, this design helped to more

clearly identify the financial behavior of ABM students who are educated in handling

money.

A narrative design describes variables using narrative reports e.g. from

interviews. With the use of this design, this can help facilitate the identification of the

relationships of the study.

Respondents

The target population of this study were Grade 11 and 12 students of Calbayog

City National High School, of the school year 2018-2019. Specifically, the students

under this population are from the Accountancy, Business and Management (ABM)

strand.

11
 The researchers used a sample size of 8 participants. 2 participants each were

taken from the 4 ABM classrooms in Calbayog City National High School, and 2

classrooms for each grade level (11 and 12). Altogether each classroom provided 25%

of the participants needed, for a total of 100%.

Data Gathering Procedure

Procedures

Before data gathering begun, the researchers created a set of guide questions

with which to interview their selected participants. These questions pertained to

variables which could affect a student’s financial behavior, divided into two main

categories: questions about profile, and questions about expenses. The researchers

went to each of the 4 ABM classrooms to gather data. After legitimizing their research

with letters of permission, the researchers then proceeded to randomly select two of the

students available, and interviewed them at the same time transcribing the interview. All

the required data was gathered within two days of operation.

Data Analysis

Once the interviews were completed, each interviewee’s responses were

analyzed by the researchers. As the study utilized a narrative design, the researchers

used an inferential approach to draw conclusions based on these responses.

12
 Chapter 3

Results and Discussion

After the participants were interviewed, the researchers divided the analysis of

the data based on the variables aforementioned in the statement of the problem (SOP).

The following chapter presents the interpretation of the participants’ answers in each

variable, the conclusions reached based on these interpretations, and the

recommendations or programs posited by the researchers that may be implemented to

improve the financial behavior of ABM students in Calbayog City National High School.

Presentation of Participants

The ages of the participants ranged from 17-19. From the 8 participants, 4 were

aged 17, 3 were aged 18, and only 1 participant was aged 19. Four of the participants

were males while 3 were females, and 1 participant was part of the LGBT community, to

see whether gender or gender identity played any role in financial behavior. Two

participants were taken each from every section from the Accountancy, Business and

Management strand of CCNHS, which consisted of 4 sections.

Six of the 8 participants classified themselves as part of the middle class, as

explained one of the said participants, the income salary of their parents was Php

45,000 per month. Also, one of the participants identified as a working-class person

13
since his family struggled to find and earn income such that he himself needed to work,

while the remaining 1 participant identified himself in the middle of low and middle class

without any explanation.

From the eight participants, 3 of which had a daily allowance of Php 50, 1 had a

daily allowance of Php 60, 1 received Php 40 per day, and one received Php 25

allowance per day. One of the participants were more unsure stating that their

allowance weekly is Php 100-200. One participant had a staggering amount of Php

1650 allowance monthly.

Summary of Findings

1. Out of the 8 participants, 7 were aged 17-18, while one was 19 years old. One of

them, a male student from ABM 12 - A, 18 years old, answered as a personal

expense that “...drinking liquor (sic) every M, W, F (Monday, Wednesday, Friday)

with my friends so I almost spent Php 350.” Whether or not the student is of legal

age for certain activities e.g. alcohol, is a deciding factor, though this did not

necessarily apply to the other participants. In fact, no other participant mentioned

activities that would warrant such age requirements, so the maturity of the

student also has to be considered. The sectioning of the participants had very

minor, if any, effect on their financial behavior. At worst, a student could be in the

same class with peers that influence him to do certain activities, such as the

aforementioned male participant from ABM 12 – A. However, influences such as

these cannot be controlled by sectioning, as the student can still interact with his

peers outside of the classroom. From the gathered data, gender affects a

student’s financial behavior in two ways: what the student spends money on, and

14
how much the student would spend on these expenses. Of particular note was

the male participant from ABM 12 – A, who answered as having spent almost

Php 350, primarily due to liquor. This is the highest amount recorded in the study,

though a female participant from ABM 12 – B had a “...minimum of Php 300 on

my personal expenses.” The interviews showed that both male and female

students can spend a lot of money, depending on their personality, tastes,

preferences, etc. Only the male participant from ABM 12 – A labeled himself as

working class, explaining that “...they (his parents) earn about Php 25,000 a

month”. 6 participants answered as being of middle class, while the last one, a

male participant from ABM 11 – A, was “...in the middle of Low Class & Middle

Class”, without further elaboration. A male participant from ABM 11 – B,

however, stated that he was of middle class even as he mentioned financial

problems and being a working student. Perhaps the types of social class were

not exactly understood by some of the participants, but nevertheless it certainly

shaped their financial capabilities, as well as their sense of handling money.

Analyzing the two participants who seemed to be of actual working class (spec.

male participant from ABM 11 – A, male participant from ABM 11 – B), the first of

these two mentioned that he spent nothing on school supplies, personal

expenses, and food, explaining that “I borrow pens & other school supplies if I

don’t have one”, and that “I bring my own food for lunch.” The latter participant

was particular in his details, especially in saving, where he stated that he saved

“...13 per day. 40 in allowance, minus 7 in transportation and minus 20 in food,

equals 13.” Social class appeared to play a major role in why they answered as

15
 such. Having limited means forces the student to take more measures in

managing money. The allowances of the participants varied greatly, from Php 25

a day (male participant from ABM 11 – A) to Php 1650 per month (female

participant from ABM 11 – A). Strangely, the aforementioned male participant

from ABM 11 – B listed as having “...40 a week.” Later on, however, based on his

answers in other questions, this was determined to be having Php 40 a day.

Allowance was determined partly by social class, which in turn determines the

majority of the participants’ financial behavior.

2. The participants’ expenditures on personal expenses varied just as greatly,

ranging from literally nothing (male participant from ABM 11 - A) to almost Php

350 per week (male participant from ABM 12 – A). The specifics regarding what

were to be considered as personal expenses were listed in the interview guide,

but the male participant from ABM 11 – B appeared to give the value of Php 25

to both personal expenses and school supplies. This has been interpreted by the

researchers as confusion on the side of the participant. In another case, the

female participant from ABM 11 – A said that “I am not sure about my personal

expenses on novelty items...” the only instance where a participant essentially

answered “Undecided”. Perhaps this was because of difficulties in calculating.

There seemed to be a direct variation between allowance and personal expense,

with the participants receiving greater allowance spending more, such as the

male participant from ABM 12 – A, who received Php 60 per day, and spent

almost Php 350 per week (the highest amounts recorded in these areas). The

amounts spent by the participants on transportation were affected mainly by

16
location. 7 out of 8 participants stated as spending to and from school, and one

of these seven answered as spending “Php 20 because our house is just near to

the school.” The male participant from ABM 11 – B deviated from the others as

he spent “...7 in the taxikol (timbol) and we walk home after the class in

afternoon...” Once again, allowance had some influence in the study. As for food,

the participants spent either on snacks or lunch. Three (male participant from

ABM 11 – A, male participant from ABM 12 – A, second male participant from

ABM 11 – B) listed as not spending anything on food, either by bringing their own

lunch, abstaining from snacks, and prioritizing other areas of expense,

respectively. How the participants spent on food was determined by either

allowance or familial factors. To elaborate, the female participant from ABM 12 –

A spent “Php 30 because I go out in the fast food chains and restaurants with my

parents”, while the female participant from ABM 11 – A stated that her

expenditure was “...depending on my parents’ chosen meal for the family...”

Meanwhile, the first male participant from ABM 11 – B spent the lowest on lunch,

specifically “Php 20, 10 for meal and 10 for rice.” This could be chalked up to

allowance concerns. In terms of saving, the participants were equally divided as

to whether or not they saved anything or not. The main causes behind the 4

participants who answered as not saving money appeared to be either spending

the remaining money on some other expense (male participant from ABM 12 –

A), buying a lot of things (female participant from ABM 12 – A), or by not being

able to do it consistently (second male participant from ABM 11 – B). The female

participant from ABM 11 – A did not give any explanation as to why she did not

17
 save. These answers showed that savings were mainly affected by areas of

expenses, coupled with the allowance allocated to the participants. With regards

to school supplies, the majority answered as to spending either little or nothing

on school supplies. Two participants were exceptions, however. The male

participant from ABM 12 – A spent Php 70 because of “...Friction pen.” The

female participant from ABM 11 – A, surprisingly, answered as having spent

“...approximately Php 200...” In the end, this could be attributed to not only out of

necessity but also due to preferences. In school projects, two participants

answered that their expense was depending on the project or event in question.

However, all the others spent large amounts on school projects, from Php 50

(female participant from ABM 11 – A) to Php 800 (male participant from ABM 12

– A) and even more, which is effectively summarized in the female participant

from ABM 12 – A’s response: “As much as we need”. School projects appeared

to be, understandably, of big priority to the participants, seeing as their grades

often depend on the outcome of said projects. Considering how the participants

responded, these school projects are either getting more expensive, or simply

because the students are investing a lot in them.

3. As a conclusion of the interview, the participants were also asked if they would

consider themselves as good handlers of money. Once again, the participants

were equally divided. The first male participant from ABM 11 – B explained that

“...I don’t know how to use money if I have an extra money I save it in my piggy

bank”, and that “I spend money for my important needs”. As for those who said

no, their main reason was that they weren’t wise in their decisions when it came

18
 to spending, though the male participant from ABM 11 – A answered that this

was because “...I still have debts to pay from my classmates...”

Conclusions

Based from the analyses of the results, the researchers have arrived at the

following conclusions:

1. With regards to the profiles of the ABM students, the main aspects that

determined their financial tendencies and habits were age, social class and

allowance. Being older gives a student the ability to do more financial

activities, and the results showed that those of working class are wiser in

handling their allowances than middle class students. Gender, however, does

not affect financial behavior insomuch as the student’s personality and

values.

2. The amounts that the ABM students spend in different expenses were

influenced by their profiles. Students who lived near their school were less

likely to pay for transportation than those who lived farther away, and those

who brought lunches were less likely to spend on food. The ABM students

prioritized school projects over their school supplies, but many still spent

considerable amounts on personal expenses, leading to them not being able

to save up.

19
 3. All these variables led the researchers to conclude that while some ABM

students in CCNHS indeed manage their money properly, a good percentage

does not, implying failure to apply lessons taught to them under the ABM

curriculum. Each student has a different profile, leading to financial behavior

different from other students. Still, since the ABM curriculum focuses on basic

concepts for corporate and business careers such as financial management,

the students under this curriculum should be equipped with the knowledge,

skills, and mindset to properly handle money, regardless of their profiles.

Recommendations

Based from the conclusions, the researchers proposed the following

recommendations:

1. The best way to make students apply these lessons is to get them more engaged

into learning, which can be best implemented through a two-day school-level

seminar workshop on financial behavior. It would contain not only discussions but

would also teach the students techniques necessary for financial behavior e.g.

how to plan better, how to save more, as well as give the students a head start

on their futures e.gt. how to make a Statement of Assets, Liabilities, and Net

Worth (SALN), lessons on employment and real estate, etc. The workshop would

also offer various educational contests which teach values while at the same time

being entertaining for the students.

2. This seminar workshop would be open not only to ABM students but also to non-

ABM students interested in this field, and available for both junior and senior high

20
 school students. It would use guest speakers and games to become more

appealing to the students.

3. This seminar workshop would be conducted twice a school year, every end of

semester, so as to not only refresh the students, but also to give new transferees

the chance to join, and learn about the many topics that would be discussed in

the workshop.

Proposed Two-day School-based Seminar Workshop on Financial Literacy to be

Implemented by Calbayog City National High School

Rationale

Based from the results of the study, not all the Accountancy, Business and

Management (ABM) students know how to handle money properly. Or at the very least,

do not the apply the lessons about how to handle money properly that were taught to

them.

This is why the researchers theorized that in order to get more ABM students

handling their money properly, they must be taught in a manner that would be

informative, clear and engaging at the same time. Since the way these lessons are

taught depend on the teacher’s teaching method, which cannot easily be changed, it

was decided that the best course of action would be for Calbayog City National High

School (CCNHS) to conduct a two-day seminar workshop to make the students learn

better, as well giving them instructions and procedures regarding things that would

prepare the students for their futures.

21
 Such a workshop is a good way to deliver quality education, as the topics can be

well planned, and the speakers can be carefully chosen so that the students will only be

taught in the workshop by the best. Also, a workshop allows for elbow room to include

such activities e.g. games and competitions, that would work towards making the whole

event more interesting to the students, which it has to be, considering the workshop

would have to deliver content better than what the students can get from classrooms.

Lastly, this workshop would also be open to non-ABM students who’d like to learn as

well.

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Appendices

Appendix A
Republic of the Philippines
Department of Education
Region VIII – Eastern Visayas
Schools Division of Calbayog City
CALBAYOG CITY NATIONAL HIGH SCHOOL
SCHOOL ID: 313801

January 28, 2019

Dr. Calick D. Arrieta

School Principal
Calbayog City National High School
Calbayog City

Sir:
We, the Accountancy, Business and Management (ABM) students of Calbayog
City National High School, are currently conducting a study of “Financial Behavior of
ABM Students in CCNHS”, as part of our academic requirements in the ABM
curriculum.

Our study focuses on the financial behavior of ABM students in CCNHS, in

particular regarding their spending and saving. At the end of the study, we intend to find

27
out if ABM students are applying in real life scenarios the lessons taught to them under
the ABM curriculum, as well as propose recommendations should there be anything
available for improvement. In line with this, we would like to request from your office to
grant us the authority to gather data from students in CCNHS, specifically those from
the ABM strand.

Thank you for your consideration. Rest assured that the ABM students which will
participate will be handled in accordance to their rights.

Respectfully yours,

Baron Francis C. Boñola

Team Leader

Noted by: Approved by:

Warren B. Errojo, MBA Calick D. Arrieta, Ph.D.

Research Adviser Principal I
Appendix B
Republic of the Philippines
Department of Education
Region VIII – Eastern Visayas
Schools Division of Calbayog City
CALBAYOG CITY NATIONAL HIGH SCHOOL
SCHOOL ID: 313801

Interview about the Financial Behavior of ABM Students in CCNHS

January 28, 2019

Dear Respondents:

We, the Accountancy, Business and Management (ABM) students of Calbayog

City National High School, are currently conducting a study of “Financial Behavior of
ABM Students in CCNHS”, as part of our academic requirements in the ABM
curriculum.

Our study focuses on the financial behavior of ABM students in CCNHS, in

particular regarding their spending and saving. At the end of the study, we intend to find
out if ABM students are applying in real life scenarios the lessons taught to them under
the ABM curriculum, as well as propose recommendations should there be anything

28
available for improvement. In line with this, we would like to request your permission for
us to interview you on a set of questions about your financial behavior.

Thank you for your consideration. Rest assured that you will be handled in
accordance to your rights.

The Team,
Baron Francis C. Boñola
Hermie Rj Alcera
Efrelyn Gaviola
Manuel III Abayon
Noelyn Mercader
Marc Orejola
Gerick Ortega
Maridel Refamonte
Daryl Grace Gabin
Jamaica Coñejos

Noted by: Approved by:

Warren B. Errojo, MBA Calick D. Arrieta, Ph.D.
Research Adviser Principal I
Appendix C

Republic of the Philippines

Department of Education
Region VIII – Eastern Visayas
Schools Division of Calbayog City
CALBAYOG CITY NATIONAL HIGH SCHOOL
SCHOOL ID: 313801

Approval Request
January 30, 2019
Dear Panel Members:

We, the Accountancy, Business and Management (ABM) students of Calbayog

City National High School, are currently conducting a study of “Financial Behavior of
ABM Students in CCNHS”, as part of our academic requirements in the ABM
curriculum.

Our study focuses on the financial behavior of ABM students in CCNHS, in

particular regarding their spending and saving. At the end of the study, we intend to find
out if ABM students are applying in real life scenarios the lessons taught to them under
the ABM curriculum, as well as propose recommendations should there be anything
available for improvement. In line with this, we would like to request your permission for
us to use the attached set of questions to interview the participants.

29
 Thank you for your consideration. Rest assured that the participants will be
handled in accordance to their rights.

The Team,
Baron Francis C. Boñola
Hermie Rj Alcera
Efrelyn Gaviola
Manuel III Abayon
Noelyn Mercader
Marc Orejola
Gerick Ortega
Maridel Refamonte
Daryl Grace Gabin
Jamaica Coñejos

Approved by:
Judith S. Fortaleza, MAED
Chairman
Jasmin A. Aresgo, MAED Cesar A. Conquillo Jr, MAED
Member Member

Warren B. Errojo, MBA. Angelica Lopez, LPT

Member Member
Appendix D
Interview Guide Questions
Name: __________________________ Age: _____ Section: _______ Gender:
______

1. What is your socio-economic status? Explain. (Working Class, Middle Class, Upper
Class, etc)
______________________________________________________________________
2. How much is your allowance? (Specify if per day, per week, etc.)
______________________________________________________________________
3. How much do you spend on personal expenses? (Clothes, accessories, mobile load,
etc.)
______________________________________________________________________
4. How much do you spend on transportation? Explain.
______________________________________________________________________
5. How much do you spend on food? Explain.

30
______________________________________________________________________
6. How much do you save? Explain. (Specify if per day, per week, etc.)
______________________________________________________________________
7. How much do you spend on school supplies? (e.g. ballpoint pens, felt tip pens, pad
papers, etc.)
______________________________________________________________________
8. How much do you spend on school projects? (e.g. cosplays, performances, school
funds, etc.)
______________________________________________________________________
9. How do you fit all these into your budget/allowance?
______________________________________________________________________
10. Would you consider yourself as a good handler of money? Why or why not?
__________________________________________________________________

Curriculum Vitae

Personal Information
Name: Manuel III P. Abayon
Age: 17
Date of Birth: June 4, 2001
Place of Birth: Calbayog City
Address: Brgy. Dagum Calbayog City
Civil Status: Single
Father: Manuel C. Abayon Jr.
Mother: Marlyn P. Abayon
Phone Number: 09065603285
Motto:
“Try and try until you succeed.”

EDUCATIONAL BACKGROUND

31
 Elementary Calbayog Dagum Central School
Calbayog City, W. Samar
2008-2014

Secondary (Junior) Calbayog City National High School

Calbayog City, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: December Avenue

Favorite Food: Chocolates
Hobbies: Singing, Dance, Basketball
Career Aspiration: Accountant
Curriculum Vitae

Personal Information
Name: Hermie Rj A. Alcera
Age: 16
Date of Birth: June 2, 2002
Place of Birth: Calbayog City
Address: Cabañas Street Brgy. San Policarpo Calbayog City
Civil Status: Single
Father: Hermie F. Alcera
Mother: Athena Rae A. Alcera
Phone Number: 09973154520
Motto:
“Tomorrow is a future yesterday.”

EDUCATIONAL BACKGROUND

32
 Elementary Calbayog City SPED Center
Calbayog City, W. Samar
2008-2014

Secondary (Junior) Calbayog City National High School

Calbayog City, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: Apo Hiking Society, VST and Co., Beatles
Favorite Food: Pizza
Hobbies: Write, Play, Read
Career Aspiration: Accountant
Curriculum Vitae
Personal Information
Name: Baron Francis C. Boñola
Age: 17
Date of Birth: December 3, 2001
Place of Birth: Calbayog City
Address: Pajarito Street Brgy. Balud Calbayog City
Civil Status: Single
Father: Noel P. Boñola
Mother: Ma. Gina C. Boñola
Phone Number: 09971436775
Motto:
“There will always be a rainbow after the rain.”

EDUCATIONAL BACKGROUND

Elementary Calbayog Pilot Central School

33
 Calbayog City, W. Samar
2008-2014

Secondary (Junior) Calbayog City National High School

Calbayog City, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: Coldplay, One Direction, P!ATD

Favorite Food: Chocolates
Hobbies: Sing, Dance, Perform
Career Aspiration: Accountant

Curriculum Vitae
Personal Information
Name: Jamaica B. Coñejos
Age: 17
Date of Birth: November 6, 2001
Place of Birth: Brgy. Sevilla, Sto. Niño Samar
Address: Brgy. Aguit-itan Calbayog City
Civil Status: Single
Father: Anatolio C. Coñejos
Mother: Gloria B. Coñejos
Phone Number: 09651734283
Motto:
“Tomorrow is always a mystery.”

EDUCATIONAL BACKGROUND

Elementary Brgy. Sevilla Elementary School

34
 Sto. Niño, W. Samar
2008-2014

Secondary (Junior) Sto. Niño National High School

Sto. Niño, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: BTS

Favorite Food: Nissin
Hobbies: Eating
Career Aspiration: Business Administration

Curriculum Vitae
Personal Information
Name: Daryl Grace P. Gabin
Age: 18
Date of Birth: September 29, 2000
Place of Birth: Catbalogan Provincial Hospital
Address: Brgy. Hamorawon P4 Calbayog City
Civil Status: Single
Father: Arturo G. Gabin
Mother: Imelda P. Gabin
Phone Number: 09975563050
Motto:
“Sacrifice is the way to paradise.”

EDUCATIONAL BACKGROUND

35
 Elementary Danao Elementary School
Calbayog City, W. Samar
2008-2014

Secondary (Junior) Calbayog City National High School

Calbayog City, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: One Direction, Camilla Cabello

Favorite Food: Anything as long as it is food
Hobbies: Singing, Dancing
Career Aspiration: Accountant

Curriculum Vitae
Personal Information
Name: Efrelyn M. Gaviola
Age: 16
Date of Birth: July 10, 2002
Place of Birth: Calbayog City
Address: Brgy. Obrero P3 Calbayog City
Civil Status: Single
Father: Fortunato G. Gaviola
Mother: Evelyn M. Gaviola
Phone Number: 09351005969
Motto:
“You open doors when you open books.”

EDUCATIONAL BACKGROUND

36
 Elementary Obrero Elementary School
Calbayog City, W. Samar
2008-2014

Secondary (Junior) Calbayog City National High School

Calbayog City, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: One Direction

Favorite Food: Anything as long as it is food
Hobbies: Singing, Dancing
Career Aspiration: Business Administration

Curriculum Vitae
Personal Information
Name: Noelyn N. Mercader
Age: 16
Date of Birth: April 23, 2002
Place of Birth: Brgy. Saljag Calbayog City
Address: Brgy. Saljag Tinambacan District Calbayog City
Civil Status: Single
Father: Noel G. Mercader
Mother: Merly N. Mercader
Phone Number: 09971449067
Motto:
“Be independent.”

EDUCATIONAL BACKGROUND

37
 Elementary Brgy. Tomaligues Elementary School
Calbayog City, W. Samar
2008-2014

Secondary (Junior) Rafael Lentejas Memorial School of Fisheries

Calbayog City, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: Paramore

Favorite Food: Anything as long as it is food
Hobbies: Dancing, Reading
Career Aspiration: Accountant

Curriculum Vitae
Personal Information
Name: Jhon Marc E. Orejola
Age: 17
Date of Birth: September 20, 2001
Place of Birth: Calbayog City
Address: Brgy. W. Awang P1 Calbayog City
Civil Status: Single
Father: Jul Orejola
Mother: Marilou E. Orejola
Phone Number: 09551584012
Motto:
“Ayaw pangopya.”

38
EDUCATIONAL BACKGROUND

Elementary Calbayog City SPED Center

Calbayog City, W. Samar
2008-2014

Secondary (Junior) Calbayog City National High School

Calbayog City, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: Post Malone

Favorite Food: Spaghetti, Pancit
Hobbies: Basketball, Singing, Dancing
Career Aspiration: Police

Curriculum Vitae
Personal Information
Name: Gerick Y. Ortega
Age: 17
Date of Birth: July 31, 2001
Place of Birth: Calbayog City
Address: Brgy. Aguit-itan Calbayog City
Civil Status: Single
Father: Roderick Ortego
Mother: Geraldine Y. Ortega
Phone Number: 09975563050
Motto:
“The motto is what I ride to school.”

39
EDUCATIONAL BACKGROUND

Elementary Calbayog City SPED Center

Calbayog City, W. Samar
2008-2014

Secondary (Junior) Calbayog City National High School

Calbayog City, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: Silent Sanctuary

Favorite Food: Anything as long as it is food
Hobbies: Singing, Dancing
Career Aspiration: Accountant

Curriculum Vitae
Personal Information
Name: Maridel T. Refamonte
Age: 16
Date of Birth: April 19, 2002
Place of Birth: Calbayog City
Address: Brgy. Obrero Calbayog City
Civil Status: Single
Father: Mario Refamonte
Mother: Adelfa T. Refamonte
Phone Number: 09263028732
Motto:
“When life gives you lemons, throw it back
at them.”

40
EDUCATIONAL BACKGROUND

Elementary Calbayog East Central School

Calbayog City, W. Samar
2008-2014

Secondary (Junior) Calbayog City National High School

Calbayog City, W. Samar
2014-2018

Secondary (Senior) Calbayog City National High School

Calbayog City, W. Samar
2018-Present

Favorite Singer/Music Band: One Direction

Favorite Food: Anything as long as it is food
Hobbies: Singing, Dancing
Career Aspiration: Undecided

41