VIRGEN MILAGROSA UNIVERSITY FOUNDATION

SENIOR HIGH SCHOOL

2420 Dr. Martin P. Posadas Avenue, San Carlos City, Pangasinan

The Effectiveness of Financial Management

Practices among ABM Students in a Hybrid Learning

 Chapter I

Background of the Study

Students are now facing a new school year with a new set up called hybrid learning. Hybrid

learning is a synchronous instruction for both in-person and online students. It is a sort of

blended learning that places more of an emphasis on bringing together physical classrooms and

online learning environments to create a more comprehensive education or to put it another way,

hybrid learning is synchronous learning that takes place both physically and virtually.

Financial management practices have a vital role in students’ life. Due to inflation, prices of fuel

and food are now facing a rapid rise. Everyone, especially students and their families are affected

by this kind of dilemma. Syakirah (n.d) students, mainly university students, are in a transition

phase from teenagers to being young adults, as the majority of them are in the age range from 18

to 25 years old. Hence, as they are in the phase of being a young adult, and learning about being

in the adultery phase, they need to learn how to manage many things on their own, including

their finances.

As the economy has changed over the last few years, concern about teenagers' financial literacy

has only increased. Many kids fear they won't be able to handle their finances as adults because

they are unprepared for it. Youths from low-income and marginalized backgrounds who already

experience hardship are particularly affected by this problem  (Briana Lee Hammontree, 2022).

Financial problems occur when an individual is unable to manage their daily expenses(Falahati

and Paim). Sabri, Hayhor and Ai (2006) financial problem is related to the problem of planning

finances and managing the cash flow.

A study entitled Financial education level of high school students and its economic reflections

conducted by Silva, Magro, Gorla, and Nakamura (2017) stated that high school students from

public schools in Blumenau,Brazil have an effective financial education acquired from their

family and relatives. The study population consisted of 4698 high school students from 14 public

schools in Blumenau and used a descriptive quantitative research and research survey.

Another study entitled The Effects of Financial Education on Financial Literacy in Italy by Gian

Paolo, Umberto, Enrico, and Elvira (2020) stated that the results of the financial education

programs that the respondents have participated in shows the effectiveness of the financial

education program. The study shows the sample of respondents composed of 918 Italian adults

who have participated during school years using descriptive quantitative research and survey.

Since the 1990s, personal finance education has become much more popular in US schools.

States with content standards for personal finance education in the schools increased from

twenty-one to forty-four between 1998 and 2009; states requiring implementation of those

standards increased from fourteen to thirty-four; and states requiring completion of a personal

finance course or an economics course with personal finance content increased from one to

thirteen (CEE 2009).

The stated studies only focused on understanding the level of financial education of high school

students from public schools verifying how their financial knowledge is acquired. It also

focused  on assessing whether participation in financial education programmes has a positive

effect on financial literacy in order to determine if their financial knowledge is higher in their

school years.The literature did not indicate what are the financial practices used by the high

school students.
The study attempts to discover the effectiveness of financial practices of Virgen Milagrosa

University Foundation Senior High School students in a strand of ABM. As the ABM students

step as college students, they must distinguish what are the financial practices that can be helpful

in their daily expenses. The importance of this study is to help the senior high school students to

develop and gain new information on their financial management skills in order to properly

establish clear financial goals.

The purpose of this study is to determine what are the financial practices used by the senior

high school students. 

Significance of the study  

This study aims to provide new knowledge and information about the effectiveness of financial

management practices in a hybrid learning. The beneficiaries of this research study would be: 

Students – This study will help students to improve their financial skills that will help them to

avoid financial crisis and unexpected financial problems.  

School – This study will help schools to give knowledge to their students about the effectiveness

of financial management. 
Other researchers – This research will help the younger researchers who wish to conduct

similar research and benefit to improve their knowledge in practicing the effectiveness of

financial management.  

Community – This will help communities to have knowledge in financial management.  

DEFINITION OF TERM

ABM students - The Accountancy, Business and Management (ABM) strand would focus on

the basic concepts of financial management, business management, corporate operations, and all

things that are accounted for.

Hybrid learning - Online learning and synchronous or in-person instruction are combined in

hybrid learning. With a hybrid course design, some aspects of the curriculum are delivered

online while other tasks are taught in a classroom.

Effectiveness - The ability to deliver the desired outcome or result is what is meant by

effectiveness. Effectiveness is the quality of having an intended or anticipated result or leaving a

lasting, profound impression.

Financial Management - Planning, organizing, managing, and controlling financial activities,

such as the acquisition and use of an organization's funds, is referred to as financial management.

It entails using general management principles to manage the company's financial resources.

Financial literacy - is the ability to understand and make use of a variety of financial skills,

including personal financial management, budgeting, and investing. It also means

comprehending certain financial principles and concepts, such as the time value of money,

compound interest, managing debt, and financial planning.

Statement of the problem

The goal of this study is to know the effectiveness of financial management practices among

Accountancy, Business and Management (ABM) strand in a hybrid learning of Virgen Milagrosa

University Senior High School. 

Particularly, the researchers sought to answer the following questions: 

1.