SIGNIFICANT RELATIONSHIP OF FINANCIAL LITERACY AND SPENDING

PLAN OF BSN 1-B STUDENTS

A Quantitative Research

In partial fulfilment of the requirements in

MATHEMATICS IN THE MODERN WORLD

By:

Balasbas, Lindsay

Cabelin, Randy

Cecelio, Shai Mae

Curiano, Analie

Dacles, Marilou

De Luna, Joebert

Gabiola, Ela Mae

Guiret, Pio John Vonn

 ACKNOWLEDGMENT

We express our deepest gratitude and appreciation to the people who have

helped us in conducting and constructing our output in Practical Research 2.

This study wouldn’t be possible if not for the help of Our Almighty God for

always guiding and looking after us.

We are also very thankful to our parents for understanding why we can’t always

be home in time and for catering to our needs, our siblings and friends for never failing

to cheer us up.

Mr. Joel Sintos , our Math adviser, for giving suggestions and aiding us

throughout the whole study. This provides us knowledge of what steps to undertake for

this serious project.

Ms. Rosa Jean Gonzaga, for sharing her expertise in the statistical treatment and

patiently providing us the quantitative undertakings we need to accomplish this study.

To our respondents, we would like to extend our warmest gratitude for cooperating

with us all throughout the conduct of our study.

 DEDICATION

For our support systems, this

is for you …

For our parents,

For understanding us.

For our teachers,

For guiding us.

For our friends,

For cheering us.

For BSN 1-D STUDENTS, who stand in the same position with us,

Our struggles would only make us even stronger…

 I. INTRODUCTION

Financial literacy has become a significant argument among the students

especially in times of economic and financial finances. These is essential to
individuals in this days. Rationally, going to college is an important part of any
person’s life. It is probably the first time students get to experience independence.
Being independent is both privilege and responsibility. To be a responsible student
is not something that can be achieve overnight. It needs to be put in mind and an
attitude. One of these responsibilities is managing their allowances. It is very
essential that each person or student should have the ability to understand how
money works and how to manage it in every personal finances(IEF,2013). One of
the challenges that every students encounter is to manage the money that their
parents provide for them. So that, many of the students are having hard time in
terms of budgeting their allowances. Money as one of the necessity plays a
significant role in every student to survive college, it has a leading insurance to
the students to be more responsive when it comes to money matters. Financial
literacy provides the necessary knowledge, skills and tools for individuals to make
informed financial decisions with confidence, to manage personal wealth with
efficiency and to increase financial competence to demand for better financial
services (Ali, 2013). So moreover, the manner in this is which the students
manage their money depends on their daily needs somehow it changes due to
some factors. Students have their personal needs, and through this study we will
know how and where the Bachelor of Science in Architecture students in Samar
State University generally spend their money, so in conducting this study it can
give an importance on the level of financial literacy to students and how it affects
when they planned for what they are going to spend. It will also help the
respondents to gain knowledge about financial literacy in order to know how to
manage their wealth and to be financially responsible and also to become skilled
in making financial decision which can measure their financial literacy. It is very
important where to put the money and let the money earn as well.
Statement of the Problem

This study generally aimed to significance of financial literacy on spending

plan of bsn 1-d students

Specifically, this study sought answers to the following questions:

1. What is the demographic profile of SAMAR STATE UNIVERSITY BSN 1-B students

in terms of:

1.1 sex;

1.2 age; and

1.3 spending plan?

2. Is there a significant relationship between the financial literacy test scores and the

demographic profile of the students?

4. What policy recommendation can the current education system propose to enhance

the financial literacy of the students regardless of their studying spending plan?
Research Hypothesis

In this study, the null hypotheses were formulated:

There is no significant relationship between the average memory capacity and the

demographic profile of the students.

Scope and Delimitation

This study sought to determine the significant relationship between the financial

literacy and spending of nursing students. The scope of this research included the

BSN 1-B students of SAMAR STATE UNIVERSITY. Purposive Non-Probability

Sampling has been utilized by the researchers to determine the respondents of the

study. Furthermore, the study delimited itself to the studying financial literacy of BSN 1-

b students and did not attempt to measure any other factors aside from the results used

in determining the financial literacy.

The study was performed in Samar Stare University, College of Nursing and

Health Sciences. The time frame for this research is the school year 2019-2020.
Significance of the Study

This study has determined the significant relationship between the financial

literacy and the spending plan of BSN 1-B students in Samar State University.

More specifically, this study was beneficial to the following people:

Students. They were given information on how their studying financial literacy is

related to their spending plan. The result of this study made them more aware of the

factors affecting their budget plan.

Teachers. They are the facilitator of learning of the students and the active

participants of it. This study will provide them information to their concern regarding the

financial lieracy and how it is correlated with the spending plan of the students.

Parents. One of the reasons why the students will attend their classes is their

parents' motivation. In this study, the parents will be able to know their role upon

improving their children's financial literacy which can help their children in attaining a

good budget plan.

School Administration. They will be able to identify the financial habits of the

students. Thus, they will be able to facilitate some programs regarding the matter.

Further researchers. The findings of this study may provide them an

information the significant relationship of financial university and spending plan of BSN

1-B students which they can possibly make use of in real life situations. A deeper

study could also be developed from the findings.

 II. Research Methodology

This chapter includes the research design, research procedure, the data

gathering technique, research instrumentation, and sampling procedure.

Research Design

The study will use descriptive-correlational research design since it aims to

determine if there is a significant relationship between the FINANCIAL LITERACY

of the BACHELOR OF SCIENCE IN NURSING FIRST YEAR students and their

spending plan.

A Correlational Design explores the relationship between variables using

statistical analyses. However, it does not look for cause and effect and therefore,

is also mostly observational in terms of data collection (CIRT, 2018).

Research Respondents

The respondents of the study are BACHELOR OF SCIENCE IN NURSING,

FIRST YEAR SECTION B students of school year 2019-2020. There is a total of

25 student respondents.

Population and Sample

The target population of this study are the first year students during the first

semester of the academic year 2019-2020 of Samar State University. These

students belong to the bachelor of science in nursing.

 With the population of 25, the researchers have utilized all respondents to

determine if there is a significant relationship between the financial literacy and

the their spending plan

This sample is selected through purposive sampling.

Data Procedure

Firstly, the researchers will look for existing problems along their nearby

environment. Statement of the Problem were then identified and were specified.

Then, Chapters 1 and 3 were crafted and the methods were specified. To

create the questionnaires, the researchers researched for existing examination

types in experimenting the financial literacy of an individual.

To assure the validity of the said test, researcher will ask for validation to

highly qualified personnel to avoid disqualification of the study.

There will be two types of questionnaire that will be given to each

respondents. One is to test their financial literacy and the other one is subjective

type where it assess the spending plan of the respondents

Then, the researchers will work on the approval of the conduct of the

research through letters. After, the researchers already conducted the actual

research fist for the BSA students.

 The results will be interpreted and the Chapter 4,5,6 were crafted as well

as the, Curriculum Vitae.

Data Gathering Techniques

The researchers gathered data through their respondents undergoing

through a financial literacy test to determine its relationship to their spending plan.

The test administered was 10 items in length.

Research Instruments

This study will use one research instrument to provide data on the

variables being studied. A validated financial literacy test will be conducted to

measure the memory capacity of BSN students through the result of the said test.
 III. DISCUSSION

Presentation, Analysis and Interpretation of Data

This chapter presents the data collected. It includes tables of analyzed and interpreted

data.

Demographic Profile

Table 1.1 Frequency Table of Sex

Frequency Percent

Female 4 16
Male 21 84
Total 25 100.0
Table 1.1 shows the frequency of the respondents of each sex.

The table shows the number of respondents per sex. There were 21 females out

of 25 respondents and 4 were identified as male.

Table 1.2 Frequency Table of Age

Frequency Percent

17.00 4 16
18.00 3 12
19.00 15 60
20.00 3 12
Total 25 100.0
Table 1.2 shows the frequency of the respondents of each age.

The table shows the number of respondents according to their ages There were

4 respondents whose age is 17, 3 were 18 years old, 15 respondents were 19 years old

and 3 was 20 years old.

Table 1.3 Frequency Table of Study Time Schedule
Frequency Percent

With Spending 12 48.0

Plan
With no 13 52.0
Spending Plan
Total 25 100.0
Table 1.3 shows the frequency of the respondents in each studying time

schedule.

The table shows the spending plan of the students which are represented by; (1)

with spending plan and (2) without spending plan.

Table 2 The Mean Scores of each Sub-test

STUDYING TIME SCHEDULE Mean Std. Deviation

Financial With Spending Plan 8.9595 3.19863

Literacy
test Without Spending Plan 8.6892 2.49891
Table 2 shows the mean, std. deviation and std. error mean of the scores for the
tests

The table shows the comparison between the means of the subtests according to

spending plan. With all the respondents taking the test on both spending plan, the mean

scores on test show almost no difference with the means being close to each other.

Table 3 Significant Relationship of the Demographic Profile and Total Score

Unstandardized Standardiz t Sig.
Coefficients ed
Coefficients
 B Std. Error Beta
(Constant) 31.464 13.704 2.296 .023
SEX -1.275 .890 -.118 -1.432 .154
SPENDING PLAN -.452 .888 -.042 -.509 .612
AGE -.289 .781 -.031 -.370 .712

Linear regression was used to determine if there is a significant relationship

between the Total test scores and the Sex, Spending plan, and Age of the respondents.

Based on the data on table 4, the Total Test Scores and the sex has a significant value

of 0.154. While for the Total Test Scores and the spending plan has a significant value

of 0.612. Between the same dependent variable and the Age, the significant value is

0.712. These values are above the significance level of 0.1 and 99% as confidence

level, and therefore indicate that there is no significant relationship between the Total

Test Scores of the students and their sex, spending plan, age and general weighted

average. Thus, failing to reject the hypothesis.

 IV. CONCLUSION
Summary of Findings, Conclusion and Recommendations

This chapter presents the summary of findings, conclusions and recommendations

derived from the interpretation and analysis of data.

Summary of Findings

1. The demographic profile of the respondents include sex wherein 21 out of the 25

respondents are female and 4 are male; age wherein 3 respondents are 17 years old, 3

were 18 years old, 15 respondents were 19 years old and 3 was 20 years old; spending

wherein 12 of the 25 respondents was with Spending plan and the remaining 13

respondents with no spending plan;

2. The mean scores of the financial literacy test results per spending plan in each

subtest are 8.9595 in with spending plan and 8.6892 in without spending plan; The total

mean scores for each spending plan show a small difference and are almost equal. This

indicates that the null hypothesis failed to be rejected and there is no significant

relationship between the total test scores of the students and their sex, spending plan,

and age.
Conclusion
Based on the data gathered and the results in the summary of findings, the

researchers have concluded the following:

1. There are more females than male students in the population of the BSN 1-b and a

large number of the population is also around 19 years of age.

2. The students’ performance in the Financial Literacy Test with spending was higher

than their performance without spending plan.

3. There is no significant relationship between the average financial literacy test scores

and the demographic profile of the students.

Recommendation

Based on the data gathered and the conclusions drawn from the study

conducted, the researchers would like to recommend the following:

1. Involve the other section in conducting the research to involve more people in the

financial literacy test. Determine the different spending plan of every student.

2. Consider the preferred spending plan to help improve financial literacy.

3. Set the respondents in a common environment a day before the test to avoid much

external factors intervening in the results

4. Specify the instructions and make it simpler and more comprehensible. Make it to a

point that the respondents of the spending plan take the test at the same time to avoid

conflicts in data gathering.

5. Researchers recommend this study as reference for future studies.

 V. RECOMMENDATION

Proposed Recommendations on the Conduct of Memory Capacity Assessment

This chapter presents the proposed recommendations on the conduct of financial

literacy assessment for the students.

Introduction

The conduct of the financial literacy test for this study seemed to have a great

impact on the results of the study. The type of assessment performed managed to affect

the response of the respondents towards taking and answering the said test. And

improving the type of financial assessment could bring more focus on the respondents

while taking the test. Recommendations on how the assessment would be improved

were stated according to the problems encountered during the conduct such as external

factors.

Objectives

1. To provide a recommendation on the conduct of financial literacy assessment

2. To generate an idea in crafting a more interactive form of assessment using

technological advancements and targeting their multiple intelligence.

3. To create a more effective test that will lead to better test results.
Proposed Recommendations on the Conduct of Memory Capacity

Assessment

This part presents the recommendations of the researchers on the conduct of

Financial Literacy Assessment that might help improve the response of the respondents

to the said test as well as the results of the study. The recommendations mainly sought

to improve the existing Financial Literacy test of the researchers for this study.

1. Involvement of technology during the assessment. To gather more productive results

from the test, the respondents must have a more focused type of learning as well as

interactive one. Attention must be caught to be able for the respondents to find more

reason to study and answer the test. And one strategy to do that is to apply

technology in the conduct of the study. Online classrooms with more catchy

graphics, for example, a game type of test could be more interactive and engaging.

2. Target the Multiple Intelligences of the respondents. Another way of making the test

more interactive is considering the field that the respondent is good of. With this, his

attention is more hooked and a better result could be gathered from the

respondents. And assessing what time of studying is the best strategy in honing the

intelligence that they already have. This could also bring fairer results for the study

considers the field of strength of its respondents. The test would then be designed by

sets according to the type of intelligence that the respondent has.

3. Secure a common environment that is fit for the specific type of intelligence for the

respondents. One major factor to fail the test is to not study at all. And this is

inevitable for the study. That is why a common environment for all respondents a day
 before the test is needed to control and monitor the time studying schedule of the

respondents and to minimize external factors from intervening with the results. An

environment must also be fit for the type of intelligence that a person has. Different

exposure could vary the results.

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