Chapter III

METHODOLOGY

This chapter reveals the research methodology, compromised of the research design,

population and sampling technique, instrumentation, data gathering procedures, and the

statistical treatment that the researcher used in conducting this present study.

Research Design

This study is a quantitative type of research. The researchers used a descriptive-

comparative design in which two variables are considered. It establishes a formal

procedure to compare and conclude that one is better than the other if significant

difference exists (Villanueva, 2013). This design was used to examine the financial

literacy and financial management of the senior high school student of South Philippine

Adventist College. Furthermore, to compare student’s financial literacy by gender and

strands, and to compare student’s financial management by gender and strands,

Research Population and Sample Technique

The respondents of this study are the senior high school students of South

Philippine Adventist College (SPAC) from grade 11 to grade 12 enrolled during the

school year 2017-2018. Each grade level has three (3) strands: The Accountancy

business management (ABM), Humanities and Social Science (HUMSS), and Science,
Technology, Engineering, and Mathematics (STEM). The population of the senior high

school is composed of 280 students. The study used the stratified random sampling in

choosing the respondents in order to highlight each subgroup within the population. The

researchers draw lots from the fishbowl with numbers one to four, the number three was

picked from the fishbowl which was used as the basis for counting to get the sample size

of the population from each strand. The researchers get the sample size by solving it

using.

Slovin’s Formula:

N
n= 2
1+ N e
Where:
n is the sample size e is the margin of error
N is the total population 1 is a constant value

Figure 3.1 SPAC Senior High School Population and Sample

Senior Academy Population and Sample

60

50 48

40
36
33 32
30 29
25
22
20 20 20 20
20 17 18
16
13 14
11 11
10 9 8
7 7
5 5

0
ABM 11 HUMSS 11 STEM 11 ABM 12 HUMSS 12 STEM 12

Male Male(sample) Female Female(sample)

 This shows the population of the SPAC Senior Academy students of the school

year 2017-2018. Figure 3.1 reveals that 165 of the 280 students responded and

participated in the research. As seen in the figure, male and female in each strand were

set apart through the use of color coding to indicate how many will be the respondents.

Research Instrument

The present study utilized a self-made questionnaire adapted from various studies

related to this topic: Bruhn, et.al, (2013); Fluellen,( 2013); Thung, et.al, (2012); Ibrahim,

Harun, Mohamed Isa, (2009); Sallie, (2016). The questionnaire has been divided into two

sections whereby the first section is the financial literacy and the second section is the

financial management of the SPAC senior high school students.

The first section of the question focuses more on how much the students learn

from the following factors that could help them how to be literate while the second

section is the financial management which evaluates the application part of the students

from what they learn. It will look into the saving, spending, budgeting, and decision-

making of the students.

Before the questionnaire was disseminated to the target respondents, the

researchers have undergone face and content validation to check the validity and

reliability of the questionnaires. A pilot test was also conducted to ensure that the

respondents can easily understand and answer the questionnaire without confusion

(Saunders et al., 2009). The questionnaire (35 items) was pilot-tested to the respondents,

further, it was subjected to Cronbach’s alpha and factorial analysis. The 35-item
questions were lowered to 33. The questionnaire uses a 5-point Likert scale (5-strongly

agree to 1-strongly disagree) to interpret the gathered data.

Figure 3.2 Cronbach’s Alpha Results

Reliability Statistics for Questionnaire A

Cronbach's Alpha Number of Items Number of Respondents
.888 15 114

Acceptable Scale of Alpha: .700 - .950

Reliability Statistics for Questionnaire B

Cronbach's Alpha Number of Items Number of Respondents
.902 20 114

Acceptable Scale of Alpha: .700 - .950

Research Procedures

This part will explain how the researchers carry out this study.

Figure 3.3 Flowchart of the Research Procedures

conduct validity Approval to

Make a consent Locate the
and reliability conduct a
letter for survey Respondents
test survey

Give the Tally the

collect the data Anayze the data
Questionnaire gathered data

Interpret the
data
 Conduct Validity and Reliability test. the researchers carry out this research

started by conducting a validity and reliability test which was approved by the Senior

Academy Coordinator. Various teachers and professionals in the campus who are in line

in the research and business field were given the face and content validation along with

attached consent letter for them to check and make corrections for it to be reliable and

valid. After the adapted questionnaires passed the validity test, the researchers conducted

pilot test to the selected students of the senior high. The data was gathered, organized and

given to the statistician for testing in which the questionnaire undergone Factorial

Analysis and Cronbach’s Alpha for it to be statistically valid and reliable. Two questions

(6&20) were removed but the test showed positive results which lead the researchers to

proceed in conducting surveys.

Make a consent letter for survey. The researchers then prepared a consent letter to ask

for permission to conduct surveys to the Senior High School in the institution and later on

was approved by the Senior High Academy Coordinator and noted by the research

adviser.

Approval to conduct a survey. The researchers ask first the teachers if the students were

available to answer the survey whenever there is a vacant time.

Locate the respondents. Since the researchers used a systematic random sampling they

pick a number from a fish bowl and they picked the number three which they used to

count the number of the population of the students which gives the researchers the list of

the respondents. The researchers then were assigned to a designated task to conduct a

survey to the different strands.

Give the questionnaires. The researchers give the questionnaires to each classroom and

to students who were vacant and follow up those who weren’t able to answer the survey.

Collect the data. The data were collected after the respondents have answered the

survey.

Tally the gathered data. The questionnaires assigned to each research members were

tallied individually. With the use of excel software, the data has been tallied by putting

the respondents in the row part and the questions will be in the column. The genders of

each strand are tallied separately as instructed by the statistician.

Analyze the data. For the analyzation part, the tallied data was given to the statistician to

derive results from the survey. Statistical tools (weighted mean, ANOVA & t-test) was

used in simplifying the data.

Interpret the data. The data will then be interpreted by the researchers to conclude

results in this research.

Data Analysis

Following tools were used to analyze the data:

Means of Central Tendency. This statistical was used by computing the weighted mean

from the gathered data and the results will be used to describe the financial literacy and

management of the senior high students.

Likert Scale. This is used to measure the depth of the student’s financial literacy and

management. Below is the depiction of scale:

Value Interpretation

1-1.8 Strongly Disagree

 1.81-2.6 Disagree

2.61-3.4 Undecided

3.41-4.2 Agree

4.21-5 Strongly Agree

T-Test. It is a type of statistical test that is used to compare the means of two groups

(Kim, 2015). This was used by the researchers to determine the significant difference of

the financial literacy and management between gender and strands.