SHS Students Money Management

CHAPTER I
THE PROBLEM AND ITS BACKGROUND
Introduction
Money plays a very important role in everyone’s life.
People use it for something in exchange like food, water,
services and other materials that they need in their
everyday living. Without money people cannot buy what they
need and what they want, without money they cannot satisfy
themselves. According to Ayn Rand, money is the source of
survival.
Our government implemented the Tax Reform Acceleration
and Inclusion (TRAIN) Law which means that people who earned
21,000 pesos monthly and below are exempted from paying
personal income tax (PIT), but along with this law is the
higher inflation rate that caused a big trouble and change
in the prices of the needed goods and services. Since then,
Filipinos are trying their best to adjust their budget to
buy what they really need to spend their money wisely.
In this case, the time value of money (TVM) is
necessary. It means that what money you have now may double
after how many years due to its potential earning capacity
(Chen, 2019). Everyone should be very wise in their spending

activities, sometimes they also need to think for their
future so they must invest something to prepare for it.
Money is all-important to continue living in this
materialistic world. Only wise person spend their money
responsibly.
According to a research of Westwood College in United
States (2009), most of the seniors and college students
spend the least of their allowance in transportation, books
and supplies but spends 40 percent on discretionary
activities- entertainment, apparel and services, travel and
vacation.
Since, Senior High School (SHS) is like taking up your
course in college, every strand has their different
expenses. At this young age students still lack experience,
it might be hard for them to spend their money wisely
because they do not know how to budget their allowance on
their own and they do not even know the value of it. As the
time passes by there will be changes until they reach the
time that they were the ones who will be earning money for
themselves, thus, spending would be too hard for them
because as they grow up as an individual their perception
about money will change. They will be one of the wisest
people who spend their money wisely and responsibly.
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Budgeting is the key. It helps you reach your goals. It
helps you to prioritize your spending, with a budget you can
move focus your money on the things that are most important
to you (Caldwell, 2019). Following your budget or spending
plan will also keep you out of debt or help you work your
way out of debt (my MoneyCoach, 2019).
This study will be conducted because the researchers
want to know if there is a significant difference between
the spending behaviors of the different strands. The
researchers also want to know how the students allocate
their money for their expenses.
Therefore, this study aims to know how SHS students
spend their allowance daily and how they manage or budget
their own allowance. The researchers decided to conduct a
survey to the SHS students of the Our Lady of the Pillar
College- San Manuel Incorporated.
Conceptual Framework
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This study supporting the idea that transportation,
school projects, school fees, and entertainment are factors
affecting the students spending behavior. This study is to
help the students monitor their expenses and for them to
make a strategy in spending their money.
The input presents the profile of the SHS students,
especially the strand, gender, monthly income of parents,
and the monthly allowance of the respondents. It also
includes the Data Privacy Act of 2012.
The process covers the collecting of information among
SHS students about their allowance and daily expenses
through the given questionnaires.
The output of the study covers the proposed budget plan
for the students to help them monitor their daily or monthly
spending. The research paradigm that will guide the study is
shown.
Input Process Output
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Profiles of Senior  Surveillance to Spending
High School SHS students behavior Among
students according about their Senior High
to: allowance and School of Our
how they spend Lady of Pillar
 Strand it College- San
 Sex  Assessment in Manuel
 Monthly the extent of
Incorporated
income of spending of
parents Senior high
 Monthly School Students
allowance  Questionnaire Budgeting plan
Data Privacy Act

of 2012
Feedback
Figure 1: Paradigm of the Study
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Statement of the Problem
This study aims to seek the answers of the following
questions:
1. What is the profile of the students in terms of the
following?
a) Strand
b) Sex
c) Monthly income of parents
d) Monthly allowance
2. What are the expenditures of the Senior High School
students of the Our Lady of the Pillar- San Manuel
Incorporated?
3. Is there a difference on the spending behaviors of the
respondents in terms of the following?
a) Strand
b) Sex
4. What budget plan can be formulated based on the
spending behavior of Senior High School?
Significance of the study
Nowadays, the value of money is getting lower not
unlike the past generation. There are many factors affecting
the spending behavior of students some of them are the
school projects, transportation fees, school fees and even
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the money they use for entertainment or leisure activities.
This study deals with the daily allowance of Senior High
School student of Our Lady of the Pillar College- San Manuel
Incorporated.
Considering that money is the one of the important
things to run our life, this study is significant for it
will benefit the students, parents and even the teachers.
Students. This study will inform students on what and
where they can primarily spend their “baon” or allowance.
Upon this information, it will help them have the knowledge
and a better understanding on how they will spend their
money wisely
Parents. This study is significant to the parents for
this will give enough information for them to understand
where their children spend their money because they were the
ones who are responsible on the monetary issues of their
children.
Teacher. This study will give information and deeper
understanding on how the requirements affects the senior
high school students spend their money. This can help them
to be more considerate in their students’ needs.
Researchers. This research will lead the researchers to
the answers they try to seek while conducting the research.
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Future Researchers. This research is significant to the
future researchers for they can use it as their guide in
conducting related researches.
Scope and Delimitation
The focus of this study is to determine and evaluate
the amount of money or the allowance the students get from
their parents, where they spend their money on and how they
manage it.
This research was limited and conducted only at the Our
Lady of the Pillar College-San Manuel Incorporated school
year 2019-2020. The respondents of the study are the 60
Senior High students. The method of the researchers will use
the descriptive type and will use the survey forms in
collecting information.
Definition of Terms
The following terms are given for the better
understanding of this paper and are operationally and
conceptually defined:
Allowance. This is the amount of money given to the
students by their parents for their expenses.
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Budget planning. It is the process by which an
individual evaluates her earning and expenses and project
his/her monetary intakes and outtakes for the future.
Data Privacy Act of 2012. This is to protect the
fundamental human right of privacy of communication while
insuring free flow of information to promote innovation and
growth. This is to protect the personal information of the
respondent.
Expenditure. This is the action of spending money for
something in exchange
Inflation rate. This is the rate of increasing of
prices of goods and decreasing in the purchasing power of
money
Monthly Income. It is the amount of money or income a
person earns in a month after taxes or deductions are taken
out.
Spending. This is the act of using money for something
in exchange
Spending Behavior. It is a behavior offering the way a
person use their money in order to satisfy their wants and
needs (Norvilitis, 2006)
Time Value of Money (TVM). It is the concept that
money available at the present time is worth more than the
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identical sum in the future due to its potential earning
capacity.
Train law. It is the law that exempts employees who has
salary of 20,000 and below monthly to pay tax payment
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Chapter 2
REVIEW OF THE RELATED LITERATURE AND STUDIES
This chapter includes discussion on related foreign and
local literature and studies reviewed by the researchers
which provides relevant facts about the Spending behavior of
consumers.
FOREIGN AND LOCAL LITERATURE REVIEW
Factors Affecting the Spending Behavior of Consumer
There are many factors that influence a consumer in
his decision making process, shopping habits, purchasing
behavior, the brands he buys or the retailer he goes. A
consumer is led by his culture, his subculture, his social
class, his groups, his family, his personality, his
psychological factors, and is being influenced by cultural
trends, as well social and societal environment. And
initially a consumer tries to find what commodities he would
like to consume his money, and then select later only those
commodities that offer greater utility. Lastly, the consumer
analyzes the price of commodities and takes the decision on
which he should spend his money. (Ramya & Ali, 2016)
a. Personality and states
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Financial psychology focuses on what people buy but
rather on the beliefs, emotions, and behaviors that explain
“why”. Personalities do affect spending, like the attitude
of a person and relationship with money. A healthy attitude
of a person knows how to prioritize, have self-confidence
and at the same time knows how to say “no”. While a bad
state of attitude such as anger, depression or frustration
can cause emotional spending and can be the root cause of
devastating financial effects. (Lohrey, 2009)
As consumers, people tend to buy not only the things
that they need but those products that they see being fit
with their own self-concept. In other words, people
generally want their products to match with who they think
they are. (Middlebrook, 2016)
b. Culture and subculture
Consumers’ everyday decisions including the buying
decision are deeply influenced by culture (Pratap, 2017).
Culture exerts different level of influence on each member.
Young people may not adopt cultural practices that adults
are commonly doing; they may develop practices that are
unique and new to their own subculture. This can involve
everything from buying trends to new product use trends. As
people relocate and culture comes in a new way, the
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intensity of culturally determined consumer behavior changes
even more. (Hartman, 2017)
c. Peer group and Family
A person’s kind of selection is based on different
consideration and many of them are influenced by his or her
family. Whether it is a tie’s color or favorite perfume,
family and friends are bound to have limited but certain
influence in someone’s life. This influenced lasts and
remains throughout the life of a person from being a kid
until he became a grandparent. From the time others make
purchase for someone who is self-dependent and start making
decisions, family role is significant. (Pratap, 2017)
When it comes to motivating behavior change, there is
nothing more powerful than the recommendations of your
peers. This applies to everything from musical tastes of
teenagers to brand selections among consumers in India.
(Purcell, 2014)
d. Psychological factors
Consumer behavior is a psychological process and the
psychology of buying behavior that is deeply related to the
emotion of a consumer goes through. A consumer will
recognize that he is in need of the product and afterwards
will buy the product to fulfill his needs. Psychological
factors makes a consumer know where is the best place to buy
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the product, the best time to buy the product, and how much
it costs. (La Marco, 2018)
According to Danes, Huddleston, and Boyce (1999) as
cited by Opoku (2015), SHS and College students in recent
times have easy access to funds but on the contrary have
shown to have inadequate financial literacy and as a result
have become impulsive buyers.
Expenses
According to Canlas (2014), in the computation of
philSTAR.com, parents could spend anywhere between ₱25,000
and ₱30,000 for the allowance of their child. College
students typically get 150 pesos to 250 pesos (excluding
transport allowance) per day. Students from exclusive
schools like Ateneo de Manila and De La Salle University
receive where surrounding places to eat tend to be more
expensive receive higher allowance. The allowance covers ₱50
to ₱100 for lunch, ₱30 to ₱50 for snack, ₱20 on average for
photocopies, and ₱50 to ₱80 for school requirements like
printing, buying pens, etc.
According to Security Bank Team (2017), millennial
boosts the “experience economy.” Millennial most spend on
real-life experiences that allow them to bond with their
family and friends. A study by Harris Group found that 72
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percent of millennial prefer to spend more money on
experiences than on material things.
Sex and Age Differences
According to Blake (2018), men are more influenced to
make a purchasing decision when choosing restaurants, cafes
and bars (61%), festivals and events (55%), and travel
destinations (35%). Women, on the other hand, are more
likely to be influenced to purchase fashion and beauty items
(71%), followed by restaurants cafes and bars (66%) and
festivals and events (57%), while 32 percent of students
admitted a level of remorse, despite 72 percent always
considering what they can afford before spending their
money.
Although most Filipino kids save part of their pocket
money, they do it to buy items they and not to prepare for
the future. For every 10 Filipino children, seven of them
spend a part of their allowance given by their parents while
setting aside funds to buy the latest gadgets, clothes or
toys. Pru Life UK has expanded the “Cha-Ching Money Smart
Kids” in collaboration with Cartoon Network and recently
launched its second season in the Philippines, aimed
introducing financial concepts such as budgeting, credit,
and investing. Tiongco said that at the young age when money
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comes in many forms and be used in different ways, it is
important to make children understand at an early age the
value of using money wisely. (Patria, 2012)
According to a new report from Charles Schwab that is
cited by Elkins (2017), millennial spend more than other
generations on comforts and conveniences like taxis, pricey
coffee and dining out. Sixty percent of millennial admit to
spending more than $4 on coffee, 79 percent will splurge to
eat at the hot restaurant in town and 69 percent buy clothes
they don’t necessarily need. Despite of their more liberal
spending habits, millennial are more planning-oriented than
their parents and grandparents. Schwab also repot that more
than a third of millennial (34%) say they have a written
financial plan compared to far fewer Generation X (21%) and
boomers (18%).
Sex differences indicate that females are economically
less active and more economically conservative as compared
to males. (Furnham, 1999)
Social and Technological
According to Valdez (2018), Filipino consumers are
becoming more aware of how their purchasing power can
influence companies and promote products and ways of doing
business that they support, a media communications company
said, citing the results of a study. The shift comes in the
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context of a boarder movement from being a passive consumer
to a so-called prosumer, one who also serves as an advocate
for products or ways of doing business. In a briefing in
Makati City, the company’s head of data analytics Philip V.
Tiongson said, “This means there is going to be a shift
which will see us moving from mindless consumption into what
we can only call meaningful consumption.” He also added that
technological changes over the past 15 years which allowed
the people to find their voice through social media and the
Internet.
As stated in the latest UniBank Social Spending Report
social media has a significant impact on the spending habits
of university students. Digital platforms influence the
spending of 88% of students. Almost half (43%) of students
surveyed noted that the seamless, in-platform shopping
experience of Instagram and Facebook are major trigger for
how much they spend through social media, with over a third
(39%) citing FOMO (fear of missing out) and peer pressure as
a driving factors. (Blake, 2018)
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FOREIGN AND LOCAL RELATED STUDIES
Women vs. Men
Vijaya Lakshmi, Aparanjini Niharika, and Lahari (2017),
conclude in their study that gender plays a very crucial
role in purchase decisions. Women are more internally
focused whereas men ought to be externally focused. It has
been suggested that male and female consumers demonstrate
considerably different approaches in their decision making
and purchasing behavior when shopping.
According to Hayhoe, et al., (2005), their study among
college students’ effective credit attitude and gender
influenced college students’ credit purchasing. Gender was
more influential in predicting financial management
practices than was affective credit attitude, with female
students employing a greater number of financial practices.
Females purchased clothing; males purchase electronics,
entertainment, travel, gasoline, and food away from home.
Part-time Jobs or Employment
According to Messinger (2018), the best way for
students to be responsible for their spending money is
employment. Students can work during summer and holiday
breaks. A typical college semester lasts for 15 weeks. A
student planning on spending $50 per week will need to save
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$750 to cover those weeks. The parents were to decide if
they would give or provide allowance for their child or not.
Expenditures
According to the study of Bona (2017), after studying
the data, most of the respondents from Surigao del Sur and
Saint Michael College spent more money on their projects and
assignments, tuition fees and school supplies, and room and
board, and spent less on their clothing and accessories.
According to the result of the study of Jin Jin (2017),
there are four major findings. The first finding is that
college students mostly like to spend their money on food
because they are students and they need a lot of foods to
survive in their life. The second finding is majority of the
female respondents most likely to spend money on shopping
because shopping is a woman thing, they love to explore
things and even shopping comes to their rescue at this time
when they feel sad or unhappy. On the other hand, majority
of the male respondents mostly like to spend on
entertainment compared to other activities because male most
likely to play game and half of them who play video,
computer or online games, they feel that it keeps them from
studying “some” or a “lot.” The third finding is majority of
the respondents get the source income from the family income
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because the college students like to spend money on some
expenses. The last finding the financial planning is an
important ways to improve the financial management because
it plays an important role in determining the college
students how to spend their money wisely.
According to the study of Bona (2017) that is conducted
in college students of Surigao del Sur State University
(SDSSU) and Saint Michael College (SMC) in Cantilan, the
northernmost municipality in the province of Surigao del Sur
it is revealed that there are no significant differences on
the extent of spending as to room and board, transportation,
projects and assignments, tuition fees and school supplies,
laptops and other gadgets between the two schools. Most of
the respondents spent more money on their projects and
assignments, tuition fees and school supplies, and room and
board. This is due to increasing price of materials to be
used in doing their projects and assignments. Moreover, the
growing rate of tuition fees, room and board.
Upsi (2014), found out that students of Sultan Idris
Education University has 16 expenditure types but the 5 most
incurred expenses are food and beverages, study materials
(including stationeries), clothing, personal
hygiene(toiletries), and telecommunication expenses. It was
also found out that out of ten predictor variables, five can
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be predicted as affecting students’ spending behavior namely
faculty, semester, gender, residency, and household income.
Social media in Purchasing Behavior of Consumers
Social media works well with groups especially with
millennials. The Deloitte report found that 47% of
millennials are influenced in their purchases by social
media, compared to 19% for all other age group. In the
report it is also noted that consumer who uses social media
during their shopping process are four times more likely to
spend more on purchases than those who do not. The report
also state that shoppers are 29% more likely to make a
purchase the same day when using social media to help shop
before or during a trip to the store. Deloitte report
provided some insight on which product works best in social
media. According to their data, 56% of consumers buying baby
products, compared to 40% home furnishings, 33% for health
and wellness and 32% for automotive.
Purchasing According to Age
According to Richards et al., (2011), women were much
better planners and budgeters than males. There were also
significant differences according to age. Freshmen were much
more likely to spend all their money quickly than juniors
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and seniors. This could be due to lack of awareness of their
budget, or not planning appropriately. Similarly, students
became better budgeters and planners as they matured.
Money and Happiness
Most spending choices can be categorized as either
material or experiential purchase. Material purchases are
those made with “the primary intention of acquiring a
material possession-a tangible object that you can obtain
and keep in your possession,” such as a new laptop, vase, or
bracelet (Van Boven and Gilovich, 2003, p.1194). In
contrast, experiential purchases are those made with “the
primary intention of acquiring a life experience-an event or
series of events that you personally encounter or live
through,” such as trip to New York City, a whale watching
cruise, or night outs (Van Boven and Gilovich, 2003,
p.1194). Applying this distinction, one of the most robust
findings to emerge over the past decade and half on the
science of spending is that experiential purchases lead to
greater satisfaction and enjoyment than do material
purchases (see Gilovich, Kumar, and Jampol, 2015, for
review). (Aknin, Hannibal, and Wiwad, 2018)
Financial Knowledge
Peng et al., 2007 conducted study to analyze the impact
of financial education on the financial knowledge and saving
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rates of the high school and college. The study is conducted
through online survey measuring past and current financial
experiences, demographic characteristics, income and
savings. The results suggest that personal financial course
improves financial literacy. The study highlights the
importance of finance courses todevelop saving habits at the
college level.
Chapter 3
METHODS AND PROCEDURES
This chapter presents the research design, participants
of the study, instruments use in gathering the data, data
gathering procedure, and data analysis tools that were used
in this research study. This serves as a basis for the
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validation to the methods and analysis of data deployed by
the researchers.
Research Design
In order to gather the necessary data the researchers
used the descriptive method.
The researchers designed a survey questionnaire aimed
to know the spending behavior of SHS students of the Our
Lady of the Pillar College-San Manuel Incorporated for the
school year 2019-2020. It was designed to know how much
allowance the participants have in general, how they budget
and where they spend it too.
Participants of the Study
In this research, the participants are the 60 students
(20 from Accountancy and Business Management, 20 from
Science, Technology, Engineering and Mathematics and another
20 from Humanity and Social Sciences) of Senior High School
of the Our Lady of the Pillar College-San Manuel
Incorporated school year 2019-2020.
Data Gathering Instrument
Assessment tool. The researchers adopted a survey-
questionnaire that they used to gather data or information
and be filled up by the respondents. The questionnaire used
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is adapted from the study of Adrian Furnham entitled “The
saving and spending habits of young people” (1999) and
questionnaire from Mazen Alqadi entitled “Spending Habits
among Malaysian Students.”
Data Gathering Procedure
First, the researchers prepared the data gathering
tool. After the preparation, they asked for the permission
of the head of the school or the principal to allow them in
conducting their research. After that, the researcher
distributed their survey-questionnaire to the participants
or respondents. After the questionnaires were filled up,
they were collected for checking and validation of data and
to ensure that the data gathered from the respondents will
stay at its highest confidentiality. The researcher used
Microsoft Office Excel to tabulate and tally the scores.
After everything has done, the results were analyzed and
interpreted according to the purpose of the study.
Data Analysis
The following tools were used for the interpretation and
data analysis:
1. Frequency Count and Percentage Distribution. This was
used to analyze all the data gathered from the
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respondents such as sex, year, strand, monthly income
of parents and monthly allowance.
Formula:
f
%= x 100
N
%= percentage
f= frequency count
N= total no. of cases
2. Weighted Mean. This was used to compute the average
values of the observation.
x́ =
∑ W n Fn
N
x́= weighted mean
ΣWnFn= total mean and frequency count
N= total number of respondents
3. Likert Scale. This scale was used to analyze the data
gathered about the behavior of the respondents toward
spending their monthly allowance habits and expenses of
Senior High School Students.
Scale Weighted Mean Descriptive Rating
1 1.00-1.74 Strongly Disagree
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2 1.75-2.49 Disagree
3 2.50-3.24 Agree
4 3.25-4.00 Strongly Agree
CHAPTER IV
PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA
This chapter includes the presentation, analysis and
interpretation of the data gathered by the researchers from
their respective respondents. This chapter provides the
final tally of results of the survey the researchers have
conducted. These data are gathered from equal number of
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respondents per strand (STEM, ABM, HUMSS) and sex
(male/female) for the respondents to avoid biased answers
from the respondents.
Table 1: Profile of the Respondents According to Strand
Strand No. of Respondents Percentage

ABM 20 33.33%
STEM 20 33.33%
HUMSS 20 33.33&
TOTAL 60 100%
Table 1 shows the profile of the respondents according
to their strand. This information was taken to know which
strand spends more or less. The researchers decided to float
on equal number of respondents from each strand to get more
appropriate answers that can help for having reliable
conclusion.
Table 2: Profile of the Students According to their Gender
Sex No. of Respondents Percentage

Female 30 50%
Male 30 50%
Total 60 100%
Table 2 presents the profile of the respondents
according to their gender. This was gathered to know if
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there are differences between the way female and male spend
their monthly allowance and their behavior towards spending.
Table 3: Profile of the Respondents According to their

Parents Monthly Income
Monthly Income of No. of Respondents Percentage

Parents
10000-29000 32 53.3%
30000-49000 17 28.3%
50000-69000 4 6.7%
70000-above 7 11.7%
Total 60 100
This table shows the monthly earnings of the parents of
the respondents. Most of the respondents have parents who
earn ₱10,000 up to ₱ 29,000 income monthly. This table was
used to know if the income of parents can affect the
spending and saving behavior of the students.
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Table 4: Profile of the Respondents According to their
Monthly Allowance
Monthly Allowance No. of Respondents Percentage

2000-2500 32 53.3
2501-3000 16 26.7
3001-3500 12 20
60 100
Table 4 shows the monthly allowance of the students.
There are 32 (53.3%) students who were given a monthly
allowance ranging from ₱ 2,000-2,500, while 16 of them have
monthly allowance ranging from ₱2,501-₱3,000, and the
remaining 12 have monthly allowance ranging from ₱3,001-
₱3,500. This data was collected from the respondents for the
researchers to know how much money they can allot for their
monthly spending.
Table 5: Monthly Spending of the Respondents according to

their Strand
ABM
A. DAILY EXPENSES
₱50-₱299 ₱300-₱549 ₱550-₱799 ₱800-above
1. Study materials( such as
stationeries, lectures, 16 2 1 1
and printings)
2. Food and beverages 6 5 2 7
3. Daily needs ( such as 11 5 2 2
transportation)
4. Beauty products 11 6 2 1
B. PERIODIC EXPENSES
1. Books 7 10 1 2
2. Clothing and 7 7 1 5
accessories
3. Entertainment and 5 7 5 3
leisure
4. Savings 6 7 4 3
A. DAILY EXPENSES STEM
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₱50-₱299 ₱300-₱549 ₱550-₱799 ₱800-above
1. Study materials( such 13 7 0 0
as stationeries,
lectures, and
printings)
transportation)
B. PERIODIC EXPENSE
1. Books 5 9 1 5
2. Clothing and accessories 3 6 6 5
3. Entertainment and leisure 8 8 1 3
4. Savings 12 1 4 3
HUMSS
C. DAILY EXPENSES
₱50-₱299 ₱300-₱549 ₱550-₱799 ₱800-above
1. Study materials( such as 12 4 4 0
stationeries, lectures,
and printings)
transportation)
5. PERIODIC EXPENSE
1. Books 14 2 1 3
4. Savings 6 5 4 5
A. DAILY EXPENSES ABM STEM HUMSS
stationeries, lectures, ₱50-₱299 ₱50-₱299 ₱50-₱299
and printings)
2. Food and beverages ₱800-above ₱300-₱549 ₱800-above
3. Daily needs ( such as
transportation) ₱50-₱299 ₱50-₱299 ₱50-₱299
4. Beauty products ₱50-₱299 ₱50-₱299 ₱50-₱299

B. PERIODIC EXPENSES
1. Books ₱300-₱549 ₱300-₱549 ₱50-₱299
2. Clothing and
₱300-₱549 ₱300-₱549 ₱300-₱549
accessories
3. Entertainment and
₱300-₱549 ₱300-₱549 ₱50-₱299
leisure
4. Savings ₱300-₱549 ₱50-₱299 ₱50-₱299
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The table 5 shows the monthly spending of the
respondents from the different strands. Comparing all the
results of the answers of the respondents from the strand of
ABM and STEM, they were almost the same. From the ABM
strand, the results state that they allot more money in food
and beverages; and spend less on study materials, daily
needs and beauty products. The result from the data gathered
from the STEM strand shows that they spend more food and
beverages; clothing and accessories as well as on
entertainment and leisure. While, the result from the Strand
of HUMSS shows that the respondents spend more on their food
and beverages. Comparing all the results the HUMSS strand
spends less than STEM and ABM, but comparing the allotted
money for the savings it shows that ABM strand students
allot more on their savings than the other strands.
Table 6: Monthly Spending of the Respondents According to

Sex
Female
A. DAILY EXPENSES ₱50-₱299 ₱800-
₱300-₱549 ₱550-₱799
above
stationeries, lectures, and
printings)
transportation)
B. PERIODIC EXPENSE
1. Books 12 11 2 5
3. Entertainment and 13 6 8 3
39
leisure
4. Savings 12 9 6 3
Male
A. DAILY EXPENSES ₱50-₱299 ₱800-
₱300-₱549 ₱550-₱799
above
printings)
transportation)
B. PERIODIC EXPENSE
1. Books 14 10 1 5
4. Savings 12 4 6 8
SEX
A. DAILY EXPENSES
Female Male
1. Study materials( such as ₱50-₱299 ₱50-₱299
printings)
2. Food and beverages ₱800-above ₱300-₱549
3. Daily needs ( such as transportation) ₱50-₱299 ₱300-₱549
4. Beauty products ₱50-₱299 ₱50-₱299
B. PERIODIC EXPENSE
1. Books ₱50-₱299 ₱50-₱299
2. Clothing and accessories ₱300-₱549 ₱300-₱549
3. Entertainment and leisure ₱50-₱299 ₱300-₱549
4. Savings ₱50-₱299 ₱50-₱299
The table 6 shows the comparison of the monthly
spending behavior of the respondents based on their gender.
Based on the results, female spend more than men when it
comes to food wherein they spend ₱800-above of their
allowance while men spend ₱300-₱549 from their allowance.
The result is contrast to the research of GrubHub Inc.
(2014), where women spend three percent more when it comes
to food, on average, per order than men. Comparing all their
40
answers, men seem to spend more of their allowance than
women does.
41
Table 7: Respondents’ behavior in Saving and Spending their Allowance (By Strands)
ABM STEM HUMSS

B. Students’ Ways of Saving Descriptive Descriptive Descriptive
µ µ µ
Rating Rating Rating
1. It is important to save 3.15 Agree 2.95 Agree 3.25 Strongly
Agree
2. I tend to spend money as soon as I get it 2.50 Agree 2.30 Disagree 2.15 Disagree
3. I believe in putting some money aside for a rainy day 3.15 Agree 2.30 Disagree 2.65 Agree
4. When I save, it is usually because I want something special. 2.70 Agree 2.65 Agree 3.05 Agree
5. I am interested in looking at different ways of saving money 2.00 Disagree 2.45 Disagree 2.60 Agree
6. I have always tried to save 2.95 Agree 2.75 Agree 3.25 Strongly
Agree
7. Money is for spending not for holding on to 2.90 Agree 2.75 Agree 2.70 Agree
8. Every once in a while I like to go on a big spending spree 2.50 Agree 2.20 Disagree 2.35 Disagree
9. I never pay for something if I can get credit 2.60 Agree 2.45 Disagree 1.55 Strongly
Disagree
10. I don’t like owing money 2.85 Agree 2.50 Agree 2.40 Disagree
11. Having a lot of money has never been my aim in life 2.60 Agree 2.75 Agree 2.65 Agree
12. Price comparison 2.60 Agree 2.15 Disagree 2.50 Agree
13. I would not be without a credit card 2.45 Disagree 2.20 Disagree 1.90 Disagree
14. Everybody should have a bank account. 3.05 Agree 2.50 Agree 2.50 Agree
15. Modern people use checks (cheque) and cards not cash 2.10 Disagree 2.65 Agree 2.45 Disagree
16. I record my expenses 2.80 Agree 2.70 Agree 2.20 Disagree
17. You can’t get far without a bank account 2.80 Agree 2.75 Agree 2.45 Disagree
18. I never seem to have enough money 2.80 Agree 2.65 Agree 2.25 Disagree
19. I kept all the receipts and bills whenever I pay for my 2.65 Agree 2.70 Agree 2.45 Disagree
things.
20. I love shopping. 2.70 Agree 2.30 Disagree 2.30 Disagree
21. The lower price products are usually my choice. 3.05 Agree 2.70 Agree 2.90 Agree
22. I compare prices between shops before buying a product 2.70 Agree 2.65 Agree 3.15 Agree
23. I prefer to buy known national brands 2.60 Agree 2.45 Disagree 2.20 Disagree
24. I postpone my shopping until during sales period 2.65 Agree 2.65 Agree 2.75 Agree
25. I look carefully to find the best value for my money. 3.05 Agree 2.70 Agree 2.75 Agree
Factor Average 2.72 Agree 2.55 Agree 2.53 Agree
42
The table 7 shows the behavior of the respondents towards
spending and saving their monthly allowance. The results were
separated according to strand (ABM, STEM, HUMSS) to know if
the answers of the respondents have significant differences.
The behavior of the respondents from the ABM strand towards
spending their monthly allowance, most of the items were rated
as agree that makes the grand mean resulting to 2.72. This
means that the respondents often considers/ practice this kind
of behaviors. They believe that saving money and putting money
aside for rainy day is important. They also compare prices
between shops before buying a product. For the STEM strand,
most of the items were also rated as agree resulting to its
grand mean of 2.55 which means most of the time they are
practicing these kind of behavior towards spending and saving
their monthly allowance. Respondents from the STEM strand
always find some ways to save money but they also believe that
money is for spending not for holding on to, and having a lot
of money was never been their aim in life. While the
respondents from the HUMSS strand, almost half of the items
got a rate of disagree and the other half got a rate of agree
these results for having a grand mean of 2.53, compared to the
grand mean of the ABM and STEM, HUMMS is little bit lower
though it still means that most of the behavior were still
considered. Like the respondents from the ABM strands they
43
also compare prices between shops before buying a product.
Most of the time, respondents from these three strands
considers lower price yet has the quality they want.
44
Table 8: Respondents’ Behaviors in Saving and Spending their Monthly Allowance (According
to Sex)
TOTAL Descriptive
MALE FEMALE
B. Behaviors in spending and saving monthly allowance MEAN Rating
Descripti Descripti
µ µ
ve Rating ve Rating
1. It is important to save Strongly
2.80 Agree 3.43 Agree
3.12 Agree
2. I tend to spend money as soon as I get it 2.37 Disagree 2.27 Disagree 2.32 Agree
3. I believe in putting some money aside for a rainy day 2.60 Agree 2.90 Agree 2.75 Agree
4. When I save, it is usually because I want something special. 2.70 Agree 2.87 Agree 2.79 Agree
5. I am interested in looking at different ways of saving money 2.57 Agree 3.03 Agree 2.80 Agree
6. I have always tried to save 2.63 Agree 3.20 Agree 2.92 Agree
7. Money is for spending not for holding on to 2.67 Agree 2.63 Agree 2.65 Agree
8. Every once in a while I like to go on a big spending spree 2.63 Agree 2.46 Disagree 2.55 Agree
9. I never pay for something if I can get credit 2.53 Agree 2.60 Agree 2.57 Agree
10. I don’t like owing money 2.47 Disagree 2.70 Agree 2.59 Agree
11. Having a lot of money has never been my aim in life 2.77 Agree 2.56 Agree 2.67 Agree
12. Price comparison 2.43 Disagree 2.67 Agree 2.55 Agree
13. I would not be without a credit card 2.23 Disagree 2.13 Disagree 2.18 Agree
14. Everybody should have a bank account. Strongly
3.37 agree
2.67 Agree 3.02 Agree
15. Modern people use cheques and cards not cash 2.53 Agree 2.60 Agree 2.57 Agree
16. I record my expenses 2.27 Disagree 2.67 Agree 2.47 Agree
17. You can’t get far without a bank account 2.57 Agree 2.73 Agree 2.65 Agree
18. I never seem to have enough money 2.60 Agree 2.60 Agree 2.60 Agree
19. I kept all the receipts and bills whenever I pay for my things. 2.57 Agree 2.63 Agree 2.60 Agree
20. I love shopping. 2.27 Disagree 2.60 Agree 2.44 Agree
21. The lower price products are usually my choice. 2.60 Agree 3.17 Agree 2.89 Agree
22. I compare prices between shops before buying a product 2.47 Disagree 3.20 Agree 2.84 Agree
23. I prefer to buy known national brands 2.13 Disagree 2.50 Agree 2.32 Agree
24. I postpone my shopping until during sales period 2.40 Disagree 2.90 Agree 2.65 Agree
25. I look carefully to find the best value for my money. 2.67 Agree 3.00 Agree 2.84 Agree
Factor Average 2.55 Agree 2.75 Agree 2.65 Agree
45
The table 8 shows the comparison of the answers from
the female and male student respondents towards their
behavior in saving their monthly allowance. For the male,
the result of their grand mean is 2.55, most of items got a
rate of agree. This means that most of these behaviors were
also practiced by men. Based on their answers, they do save
because they want something special. For the female, almost
all of the items were rated as agree this resulting to a
grand mean of 2.75, this means that they consider/practice
most of these behaviors. Unlike men, women tend to keep all
the receipts and bills whenever they pay for their things
and record their expenses. Yet, both are finding ways to
save money because they believe that saving money is
important.
CHAPTER V
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
This chapter includes the summary of findings,
conclusion, and recommendations that the researchers came up
with after conducting the research.
SUMMARY OF FINDINGS
There are 60 respondents, which were equally divided
into three different strands the Accountancy and Business
Management (ABM), Science, Technology, Engineering, and
Mathematics (STEM), and Humanity and Social Sciences
(HUMSS).
Based on the result, the respondents from ABM strand
allot more money in food and beverages; and spend less on
study materials, daily needs and beauty products. STEM
strand spend more on food and beverages; clothing and
accessories as well as on entertainment and leisure. While,
HUMSS strand shows that the respondents spend more on their
food and beverages. But comparing between male and female,
female spend more than men when it comes to food, but saves
more compared to men.
On the behavior of the respondents towards saving and
spending their monthly allowance the ABM give importance in
47
saving money not just on rainy days, respondents from the
STEM strand also give importance in saving up some of their
allowance but they also believe that money is for spending
not for holding on to, while the HUMSS like the other
strands they also give importance in saving money and they
compare prices between shops before buying a product. On the
other hand, comparing the data gathered between male and
female, the researchers found out that females/ women tend
to keep all the receipts and bills whenever they pay for
their things and record their expenses more than men, yet,
both of them are finding ways to save money.
CONCLUSION
After studying all the data that were gathered,
the researchers found out that most of the student from ABM,
STEM, HUMSS spent more of their monthly allowance on their
food and beverages as well as for their clothing and
accessories; and entertainment and leisure.
Based on the findings, ABM, STEM, and HUMSS practice
and always finds way to save money because they believe that
saving money is important.
After the researchers have examined the data they have
gathered, they found out that there are no significant
differences on their answers spending and saving behavior.
48
RECOMMENDATIONS
The following recommendations created were based on the
findings and conclusion of this study in benefit of the
student, parent, and future researchers:
Students. They should continue saving up some money, and
always find some ways to set aside some money for something
that they want or for future purposes. Also, the researchers
recommend that they should start keeping receipts whenever
they buy to track their expenses so that they could minimize
their expenses and maximize their savings. Additionally,
they should learn to set their financial goals, long-term
and short-term goals, start to plan for their monthly
budget, and learn to stick to their budget plan, it will
allow them to allocate their money in a way that will help
them to achieve their goals.
Parents. They should help their children to save money and
guide them in managing it wisely. Teach their child on how
to value their money and the importance of hardwork.
Future Researchers. They may conduct a study towards the
spending behavior of private school students and public
students to know the difference between private and public.
The researchers would like to recommend to conduct study to
those student have a part time job. The nature of their
49
school expenditures is also an advisable study for it can
expand their knowledge about their research. The future
researchers may also conduct a study about the behavior of
ABM students regarding the input and output of their
projects or school activities.
50
BIBLIOGRAPHY
51
REFERENCES
Aknin,L., Hanniball, K.,Wiwad, D. (2018).Buying well-being:

Spending Behavior and Happiness.
Alqadi, M.“Spending Habits among Malaysian Students”

(https://www.slideshare.net/mobile/amaamazen2/que
stionnaire-msc).
Blake, D. (2018).Social media impacts student spending

habits.
Bona, J. T.(2017).Spending behavior among college Students.

Canlas, M(2014).The breakdown of students’ allowance.
Furnham, A. (199).The saving and spending habits of young
people. Journal of Economic and Research Psychology,
20(6), 677-697
Jin Jin, I. T. (2017).A study of Spending Habits Among

College Students in Miri.
La Marco, N. (2018).Psychological Factors That Influence

Consumer Buying Behavior.
Lohrey, J. (2009). How Personalities Affect Spending.

Messinger, J. (2018).Students Spending Habits.
Middlebrook, S. B.(2016).Personality and Related
Characteristics that Affect Consumer Buying Behavior.
Opoku, A.(2015).Financial Literacy among Senior High School

Students.
Peng, T. M., Fox, A. J. J., Bartholomae, S., Cravener, G.,

Martina, T. C., Ae, P., Cravener, G. (2017). The impact
of personal finance education delivered in high school
and college courses. J Fam Econ Iss, 28, 265-284.
Ramya, N., and Ali, M. SA. (2016). Factors affecting

Consumer Buying behavior.
Security Bank Team (2017). What Are Millennials Doing With

Their Money?
GrubHub Inc. (2014). Men vs.Women Eating Preferences:
52
Online Ordering Data Reveals Gender Differences in
Takeout Dining
Valdez, D. A. (2018) Consumer becoming more aware of their

social influence-Havas.
Vijaya Lakshmi, Aparanjini Nihanka, and G. Lahari

(2017).Impact of Genderon Consumer Purchacing
Behaviour.
53
APPENDICES
54
APPENDIX A
QUESTIONNAIRE
Our Lady of the Pillar College- San Manuel Incorporated

District No. 3, San Manuel, Isabela
Dear Respondents,
We are the researchers from Grade 12 who are enrolled in

Accountancy, Business and Management (ABM) strand.
Presently, we are conducting a study entitled “Spending
Behaviour of the Senior High at Our Lady of the Pillar
College San Manuel Incorporated: Basis for Budget Plan S.Y.
2019-2020”.
In regard, we are asking for your precious time and effort

to answer all the questions in the questionnaire that are
important and helpful for the completion of our study.
Rest assured that all data gathered from you will be kept in
highest confidentiality.
Your positive response in this request will be valuable

contribution for the success of the study and will be highly
appreciated.
Thank you very much for your cooperation.
Respectfully Yours,
Respondents
55
Name (Optional): _______________________________________
Age: _______ Sex: ( ) Female ( ) Male
Grade Level: ( ) 11 ( ) 12 Strand: ______
Monthly Income of Parents: ___10,000-29,000 ___30,000-

49,000
___50,000-69,000 ___70,000-
above
Monthly Allowance: ___2000-2500 ___2501-3000 ___3001-

3500
A. Direction: Put a check () on the amount of money that

indicates your monthly spending.
Where: 1- ₱50-299
2- ₱300-549
3- ₱550-799
4- ₱800-above
Daily expenses Amount Spent

Monthly
1 2 3 4
printings)
2. Food and beverages
3. Daily needs ( such as
transportation)
4. Beauty products
Periodic Expenses 1 2 3 4
1. Books
2. Clothing and accessories
3. Entertainment and leisure
4. Savings
56
Direction: Put a check () on the number of column that
answers the indicator that shows how students’ save their
allowance.
Legend:
 1-Strongly Disagree
 2-Disagree
 3-Agree
 4-Strongly Agree
B. Students’ Ways of Saving 1 2 3 4

1. It is important to save
2. I tend to spend money as soon as
I get it
3. I believe in putting some money
aside for a rainy day
4. When I save, it is usually
because I want something special.
5. I am interested in looking at
different ways of saving money
6. I have always tried to save
7. Money is for spending not for
holding on to
8. Every once in a while I like to
go on a big spending spree
9. I never pay for something if I
can get credit
10. I don’t like owing money
11. Having a lot of money has
never been my aim in life
12. Price comparison
13. I would not be without a
credit card
14. Everybody should have a bank
account.
15. Modern people use cheques
and cards not cash
16. I record my expenses
17. You can’t get far without a
bank account
18. I never seem to have enough
money
19. I kept all the receipts and
57
bills whenever I pay for my
things.
20. I love shopping.
21. The lower price products are
usually my choice.
22. I compare prices between
shops before buying a product
23. I prefer to buy known
national brands
24. I postpone my shopping until
during sales period
25. I look carefully to find the
best value for my money.
58
APPENDIX B
59
APPENDIX C
PICTORIALS
While Adrian and Victor asking for the respondent to

cooperation in answering the question for the completion of
the research and while discussing to the respondents the
direction in answering the questionnaire.
60
This was taken during the computation and
interpretation of the data gathered from the respondents.
61
Appendix D
Proposed Monthly Budget Plan
Monthly Allowance: ₱2500
COMMON EXPENSES BUDGET
 Lunch ₱800
 Snacks ₱800
 Transportation ₱400
 Entertainment (phone bills/load) ₱400
 Others (module, stationaries, ₱100
miscellaneous)
 Savings ₱200
TOTAL ₱2500
DAILY EXPENSES TRACKER

AMOUNT SPENT DAILY TOTAL
DAILY EXPENSES EXPENSES
Monday Tuesday Wednesday Thursday Friday
 Lunch
 Snacks
 Transportation
 Entertainment
(phone bills/load)
 Others (module,
stationaries,
miscellaneous)
 Savings
TOTAL EXPENSES
CURRICULUM
VITAE
Name: Juvelle Cudal
Address: District No. 3, San Manuel,

Isabela
Sex: Female
Status: Single
Educational background
Elementary: San Manuel Central School
S.Y 2013-2014
Junior High School: Callang National High School
S.Y 2017-2018
Senior High School: Grade 12 ABM Of Our Lady Of The Pillar

College-San Manuel Inc.
S.Y 2019-2020
64
Name: King Harry D. Fernandez

Isabela
Sex: Male
Status: Single
Educational background:
Elementary: Our Lady of the Pillar College - Cauayan San

Manuel Branch
S.Y 2013-2014
Junior High School: Our Lady of the Pillar College – San

Manuel Incorporated
S.Y 2017-2018

S.Y 2019-2020
65
Name: Adrian Joseph T. Pagatpatan

Isabela
Sex: Male
Status: Single
Elementary: Our Lady of the Pillar College - Cauayan San

Manuel Branch
S.Y 2013-2014
Junior High School: Our Lady of the Pillar College – San

Manuel Incorporated
S.Y 2017-2018

S.Y 2019-2020
66
Name: Angielina S. Carmelo
Address: Sandiat West, San Manuel,

Isabela
Sex: female
Status: Single
Elementary: Sandiat West San Manuel Isabela
S.Y 2013-2014
Junior High School: Sandiat National High School
S.Y 2017-2018

S.Y 2019-2020
67
Name: Marife A. Magdangal
Address: Cabaritan, San Manuel,

Isabela
Sex: Female
Status: Single
Elementary: Cabaritan Elementary School
S.Y 2013-2014
Junior High School: Eden Integrated School
S.Y 2017-2018

S.Y 2019-2020
68
Name: Victor Jordan T. Lanuza

Isabela
Sex: Male
Status: Single
Elementary: Our Lady Of The Pillar College - Cauayan San

Manuel Branch
S.Y 2013-2014
Junior High School: Our Lady Of The Pillar College – San

Manuel Incorporated
S.Y 2017-2018

S.Y 2019-2020
69
Name: Chin Darlyn S. Ulanday

Isabela
Sex: Female
Status: Single
Elementary: Roxas Central School
S.Y 2013-2014
Junior High School: La Salette of Roxas College
S.Y 2017-2018

S.Y 2019-2020
70

SHS Students Money Management

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CHAPTER I

THE PROBLEM AND ITS BACKGROUND

Money plays a very important role in everyone’s life.

People use it for something in exchange like food, water,

services and other materials that they need in their

everyday living. Without money people cannot buy what they

themselves. According to Ayn Rand, money is the source of

Our government implemented the Tax Reform Acceleration

21,000 pesos monthly and below are exempted from paying

higher inflation rate that caused a big trouble and change

in the prices of the needed goods and services. Since then,

Filipinos are trying their best to adjust their budget to

buy what they really need to spend their money wisely.

In this case, the time value of money (TVM) is

after how many years due to its potential earning capacity

(Chen, 2019). Everyone should be very wise in their spending

future so they must invest something to prepare for it.

Money is all-important to continue living in this

materialistic world. Only wise person spend their money

According to a research of Westwood College in United

States (2009), most of the seniors and college students

spend the least of their allowance in transportation, books

and supplies but spends 40 percent on discretionary

activities- entertainment, apparel and services, travel and

Since, Senior High School (SHS) is like taking up your

course in college, every strand has their different

expenses. At this young age students still lack experience,

it might be hard for them to spend their money wisely

because they do not know how to budget their allowance on

time passes by there will be changes until they reach the

themselves, thus, spending would be too hard for them

because as they grow up as an individual their perception

about money will change. They will be one of the wisest

people who spend their money wisely and responsibly.

helps you to prioritize your spending, with a budget you can

to you (Caldwell, 2019). Following your budget or spending

way out of debt (my MoneyCoach, 2019).

This study will be conducted because the researchers

want to know if there is a significant difference between

the spending behaviors of the different strands. The

researchers also want to know how the students allocate

their money for their expenses.

Therefore, this study aims to know how SHS students

spend their allowance daily and how they manage or budget

their own allowance. The researchers decided to conduct a

survey to the SHS students of the Our Lady of the Pillar

College- San Manuel Incorporated.

school projects, school fees, and entertainment are factors

affecting the students spending behavior. This study is to

help the students monitor their expenses and for them to

make a strategy in spending their money.

The input presents the profile of the SHS students,

especially the strand, gender, monthly income of parents,

and the monthly allowance of the respondents. It also

includes the Data Privacy Act of 2012.

The process covers the collecting of information among

SHS students about their allowance and daily expenses

through the given questionnaires.

The output of the study covers the proposed budget plan

for the students to help them monitor their daily or monthly

spending. The research paradigm that will guide the study is

Input Process Output

Data Privacy Act