COMMISSION ON HIGHER EDUCATION

Schools Division of Zambales

COLLEGES
KOLEHIYO NG SUBIC
Subic, Zambales, Philippines
S.Y. 2020-2021

True Way to Greatness

Welmer V. Navarro

Leonido A. Moralde Jr.

Fritzie Keith Bersalona

Dhoris Felicia Ignacio

Jackylyn Pambid

BSED. MAYOR IN SOCIAL STUDIES

SET B
GROUP6
Researchers

Bernardo Delos Santos

Research Teacher/CWTS Instructor

In partial fulfilment for the requirements of NSTP 101/ CWTS

October 30,2020
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Abstract

The central topic of this research study is the True way to

greatness. Doing this study is very difficult to know what,

are the methods or steps to be taken and will be considered

for the true way to greatness. Because of every factor in

our society there are so many different beliefs to know if

you can be a great or be called a great because it is not a

joke that you will play a role in this greatness. Here you

will be tested on your judgment and humility to others

especially in faith in God and in following the do's and

don'ts of the behavior you desire.

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Table of Contents

Title Page

Abstract 2

Table of Contents

List of Tables

List of Figures

Introduction 4

Background 4-5

Methodology 5

Results and Discussion 9

Conclusion 12
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INTRODUCTION

BACKGROUND OF THE STUDY

Peoples seek greatness in some other way as they

believed that it is the true greatness. They seek greatness

for them to have a meaningful life. They are searching for a

path that they want to follow for the rest of their lives,

but somehow other people were somewhat disappointed on the

decisions they have made. However, some people like the

students of KOLEHIYO NG SUBIC have made some decisions that

impact their life because they think deeply as they want to

reach their fulfillment in life. Although, some students

have made the wrong decisions in life but that is not the

point because everyone commits mistakes in life. Those

mistakes make people a stronger one. Just take advantage on

your given situation. This problem in our life will give us

the way to seek more the true greatness and however expand

our knowledge how to cope up with those things that we are

experiencing. Although, true greatness is hard to find based

on the opinion of other people.

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According to Scott Barry Kaufman (2011), by definition,

greatness is rare, only few people reach greatness in any

domain. Greatness is also combinatioriaL, it consists of

many traits and environmental influences that interact.

Greatness is not normally distributed among the

students because we are different in our way of thinking. We

have different personality and different thoughts about

greatness.

The importance of seeking the true way to greatness is

that when we find it, we can now be contented in life and we

can now live peacefully but remember greatness is only

temporary. We are the one who making our own greatness. As

it was said that "greatness is not a function of

circumstance but conscious choice and discipline.

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RESEARCH QUESTIONS

This study is sought to address the following questions:

1. How they manage their resources in terms of saving

and spending?

2. Is their monthly salary is enough to support them and

their family?

3. Does the OFWs able to have part-time jobs?

4. Why the OFWs made loans?

5. How they solve their financial issues?

6. Are the OFW’s is lack of financial literacy

knowledge?
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METHODOLOGY

RESEARCH DESIGN

This study utilized the qualitative research design.

The objective of the study is to examine whether managing

financial resources were employed by OFW’s from their

earnings. It also assesses the experiences of OFWs regarding

their utilization of earnings in terms of saving and

spending and their responses in periods of uncertainties

(Jalagat,2016). Research design is characterized as a

framework of methods and techniques chosen by a researcher

to combine different research components of research in a

fairly logical way to efficiently manage the research

problem (Bhat, 2019). The researchers used Qualitative

Method because the purpose of this analysis is to have a

deeper understanding for a specific organization or case,

rather than a surface explanation of a broad sample of a

population.
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Sampling Procedure and Sample

Sampling is a process or technique of choosing a sub-

group from a population to participate in the study; it is

the process of selecting individuals to represent the large

group from which they were selected (Ogula,2005). In this

study, we have 12 Overseas Filipino Workers in Taiwan that

the researchers ask, not personally but through Online chat

to participate the study about Financial literacy.

Consequently, the sample size for many qualitative studies

are 10-20 participants (Latham,2000). However, the 15

Overseas Filipino Workers are selected based on availability

and accessibility of the respondents and also the

researchers have chosen 12 participants to have more

information, knowledge, and experiences.

Data Collection Procedure

To know the financial literacy among Overseas Filipino

Workers the researcher’s will interview the respondents

through chat via Messenger, since the respondents lives in

Taiwan and the researchers is in the Philippines. In order

to gather these data, the researchers made a systematic

review derives data from interviews, or verbal interactions

and focuses on the meanings and interpretations of the

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participants and systematic procedure to maximize the

different point of views that dealt with Financial literacy.

Data Analysis

Data analysis are considered to the most difficult and

interesting part of research. Data analysis refers to the

process by which the field work derives a useful

significance. Data analysis can be done quantitatively or

qualitatively (Opoku, 2015). For analyzing the data, the

researchers will use a narrative analysis because, the

answers of the respondents are based on their own stories or

different experiences and own opinions.

Results and Discussion

To discuss the results more effectively the researchers

will analyze and interpret the data gathered from the

respondents using narrative analysis. As a factory worker

are they satisfied with their monthly salary abroad? Most

of the respondents answered YES, because Philippines has a

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lower minimum salary for the workers compared on Taiwan.

Also they are contented because it is enough to support and

fulfill what the OFWs and their family desires and needs.

Therefore, it means that OFWs are satisfied and their salary

is just enough for them. How OFW’s manage their resources in

terms of saving and spending? Through this question the

researchers learns that somehow the OFW’s has different ways

on managing their resources. Some are monitoring it

through their daily expenses or dividing their salaries for

saving and spending. Based on the answers of the

respondents, they prioritized saving their money for future

needs using the 75% of their salary to save and 25% for

allowance and fees, also to spend less it’s important to

remove unnecessary expenses to them and control their buying

habits, therefore, the respondents had enough financial

knowledge when it comes to managing their money. Does the

OFW’s are able to have a part-time job? No. Having a second

job is a violation that consider as breaking rules and

regulations on their contract. But some of the OFW’s are

willing to have a second job to gain extra income for their

family and to make bigger salary. Why did OFWs made loans?

If the salary they earn in a month is just enough to sustain

their normal expenses and their families needs and cant make

any savings, it is possible that the unexpected problems

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comes to their families such as, if they don’t have enough

money to pay for their placement fees, paying debts that

they left before going abroad, building their own house, and

buying properties or investments. It is possible that they

need to make loans to use it for emergency purpose. Those

are the reasons why OFWs made loans because its their top

most priority to fix their financial problems of their

family. What are the things that an OFW can provide for

their family? By sacrificing themselves, as an OFW they can

provide their own house and fulfill their family needs,

desires, and financial support. Many OFWs has provided their

own businesses and land, also by working abroad for years

OFWs are able to pay the debts of their family and give them

a stable life. What are the financial issues of OFWs?

Failure to define assets than liability, lack of knowledge

of investing, lack of financial goals, lack of knowledge on

financial management, lack of emergency funds, health

issues, and unpaid loans are the financial issues of the

respondents. These financial issues may result into a

financial stress that affects a persons health, job, and the

family. How OFWs avoid financial issues? The OFWs avoid

financial issues or problems by creating their plans,

working hard to increase their salaries and managing it

properly. Saving their money by identifying the expenses

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that can be reduced and controlling their spending habits to

avoid loss of money and save more for future needs. What are

their reasons to go abroad? The main reason for this is of

course their family to save money to provide them their own

business or houses, also because of the high salary and good

opportunity. But some of the OFWs work abroad because they

have their goal in life and being an OFW is a stepping stone

to their success. Unlike any other studies, the results of

this study discussed both financial literacy and financial

issues of the Overseas Filipino Workers on Taiwan.

Conclusion

This research, studies both financial literacy and

financial issues or problems of the Overseas Filipino

Workers including the decision making, solving financial

problems, and managing resources. As a Overseas Filipino

Worker living abroad is a very hard decision to make, In

terms of saving they have to limit themselves at everything

such as spending they can’t buy anything they want because

they need to save money for future needs and to avoid

financial problems. It is more important to focus their

topmost priority such as savings and sending money to their

family and to provide the things that their family desires

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to have, also to provide a business that can support them

after working abroad. The OFWs are financially educated

based on the data gathered, they know how to manage their

resources in terms of saving and spending and they are aware

on how to avoid financial problems, therefore the Overseas

Filipino Workers on Taiwan has enough knowledge on financial

literacy.

Recommendations

To the future researchers. This study can be used as

reference on their research whether its about financial

literacy or financial issues. The future researchers can

also conduct another study about financial literacy among

Overseas Filipino Workers and conduct a much deeper study

about the topic.

To the students. This will help them to understand the

life and the responsibilities of adults and OFWs, also in

making good financial decisions and management.

To the families. To help the OFWs the family should

limit themselves on asking for unnecessary things because

the life and responsibilities as an Overseas Filipino Worker

is not easy. Working on other country, living with other

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people and working for their family to support them and

fulfill their needs. The OFWs don’t even have time to enjoy

and care for themselves because they prioritized the needs

of their family, that may cause financial stress because of

working too much and may affect their mental health.

To the future Overseas Filipino Workers. Being an OFW

comes up with a heavy responsibility, but this study gives

them ideas on how to save and how to avoid financial

problems. Also, helps them to make good financial decisions

and motivates them to work abroad.