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The Level of Spending Habits Among Accountancy, Business, and Management

(ABM) Students of Tacurong National High School (TNHS): Basis For Program
Intervention

Research · May 2023

DOI: 10.13140/RG.2.2.20123.03366

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THE LEVEL OF SPENDING HABITS AMONG ACCOUNTANCY, BUSINESS, AND
MANAGEMENT (ABM) STUDENTS OF TACURONG NATIONAL HIGH
SCHOOL (TNHS): BASIS FOR PROGRAM INTERVENTION

______________________________________

A Quantitative Research
Presented to the
ABM Strand of the Senior High School
Tacurong National High School
Tacurong City

______________________________________

In Partial Fulfillment
of the Requirements for the Subject
Inquiries, Investigation, and Immersion

______________________________________

ASHLEY NICOLE M. PASCO

ANAKIEN B. DEE
DHIEJAY G. RODRIGUEZ
EMMALYN A. MAMON
JAKE S. MALOK
MARVIN M. DUBLIN
NILO A. SALARDA
Researchers

JOSE DECENA III

Subject Teacher

May 2023
 ABSTRACT

This study aimed to determine the level of spending habits among accountancy,

business, and management students of Tacurong national high school. This study is a

quantitative research design, which is a descriptive-correlational method. The study's

respondents were Eighty-five (85) Grade 11 and eighty-five (85) Grade 12 ABM

students of Tacurong National High School. The study used convenience sampling to

select respondents who could provide accurate data. Spending habits got a mean level

of 3.98 with a descriptive story of high. This means that spending habits are oftentimes

observed. The researchers used the collected data to improve students' spending habits

through a proposed intervention program. The proposed intervention program is a

"Seminar-Workshop on Spending Habits Focusing on Debt Attitude and Compulsive

Spending."

Keywords: spending habits, program intervention, ABM students

 TABLE OF CONTENTS

Page

TITLE PAGE i

ABSTRACT ii

TABLE OF CONTENTS iii

LIST OF TABLES vi

LIST OF FIGURES vii

ACKNOWLEDGMENT x

Chapter

1 INTRODUCTION

Rationale 1

Statement of the Problem 3

Review of Related Literature 4

Theoretical Framework 8

Conceptual Framework 9

Significance of Study 12

Definition of Terms 13
 2 METHOD

Research Design 15

Research Locale 15

Population and Sample 16

Research Instrument 17

Data Collection 19

Statistical Tools 20

Ethical Consideration 20

3 RESULTS AND DISCUSSION

Level of Spending Habits 22

4 CONCLUSION AND RECOMMENDATION

Conclusion 28

Recommendation 28

REFERENCES 29
APPENDICES

A Letter to Conduct Study 34

B Validation Sheets for Research Instrument 35

C Summary of Ratings of Experts 38

D Research Instrument 39

E Plagiarism Checker Result 42

F Grammarly Checker Result 43

CURRICULUM VITAE 44
 LIST OF TABLES

Table Page

1 Level of Spending Habits 22

 LIST OF FIGURES

Figure Page

1 The IPO model showing the input-process-output 11

To determine the level of Spending Habits

2 The Philippine Map and the Research Locale 16

 ACKNOWLEDGMENT

We want to express and offer our heartfelt appreciation to Jose Decena III, our

3is teacher, who made this task possible. Thanks to his guidance and advice, we

completed all stages of writing this research report. We also thank our fellow students

for their yearly assistance and recommendations. We thank our family and friends for

their continuous support and patience while researching. Your heartfelt prayers for us

have kept us going. Finally, we thank God for guiding us through all the difficulties. We

have benefited from your guidance daily. We could only finish our research paper

thanks to you. We'll continue to believe in you.

 1

Chapter 1

INTRODUCTION

Rationale

The spending habits of young adults are a growing topic in the realm of financial

management. Under Henry, Weber, & Yarbrough (2019; Parotta & Johnson, 2018),

these people are making more sophisticated financial decisions and are setting up

financial management procedures. Young people's spending habits will affect their

financial situation soon (Bona et al., 2018). Early adoption of spending habits would

provide them the best chance to complete their education and learn money

management skills for the future. According to Bona (2018), keeping track of one's

money prevents overspending, impulsive purchasing, and paying too much for items.

The students' spending habits might have a wide range of effects on their lives,

including their relationships with their family, friends, and even strangers. Someone

could feel these effects not only in terms of their financial well-being.

It is crucial to give students a solid foundation in financial management so they

can use it both when putting it into practice and after graduating. They can virtually

manage their Spending by watching it (Fundam, 2018). You may achieve your financial

goals and stretch your money further by making wise financial choices. Organizing your

expenses and deciding how much to spend based on your needs can be possible with a

plan (Fundam, 2018). A taught model of behavior that is widely applied is spending

habits. They can virtually manage their Spending by watching it (Fundam, 2018).
 2

Spending behavior is a learned blueprint of conduct that is repeatedly practiced.

Financial success largely depends on effective spending habits (Appl, 2018).

How someone spends their money is greatly influenced by their family. Family

members play a significant role in determining what items to purchase and employ. The

way of life of a person has an impact on their shopping preferences. We frequently

observe and model our parents and other family members' spending habits (Tuliao,

2019). According to the social learning theory, People acquire spending habits from

their parents and other prominent people (Fullen, 2018). Each child's particular financial

experiences influence their parents' financial management and the lessons they teach

their children. Parents significantly influence the development of children. Their parents'

spending habits affect their children's positive and negative spending habits (Hadrik &

Hotirak, 2018). Socialization agents, such as family and peer groups, impact people's

attitudes toward money (Hadrik & Hotirak, 2018).

This study raises awareness of spending habits among Tacurong National High

School students studying management, business, and accounting. No existing studies

are related to the spending habits among accountancy, business, and management

students of Tacurong National High School.

 3

Statement of the Problem

The study aimed to determine the level of spending habits among accountancy,

business, and management students of Tacurong national high school. Specifically, this

study has the following objectives:

1. What is the level of spending habits in terms of;

1.1 Parental Influence on Savings;

1.2 Financial consciousness;

1.3 Financial planning;

1.4 Debt Attitude; and

1.5 Compulsive Spending

2. What intervention program can be proposed based on the results of the study?
 4

Review of Related Literature

This section synthesizes the authors' viewpoints, principles, concepts, and ideas

on spending habits among accountancy, business, and management (ABM) students at

Tacurong National High School (TNHS). Additionally, it presents the collection of data

and material that has been published that is pertinent to this investigation and

concentrates on presenting related research that offers the background and details

required for this study.

Spending Habits

It is impossible to separate peoples' spending patterns from their daily lives

because of the swift evolution of the fiercely competitive global corporate environment.

As a result, decision-making has grown more difficult (Stym, 2020). Because of their

exposure to marketing initiatives, internet service providers, and electronic buying

options, students are affected by this problem (Stym, 2020). A pattern of behavior

known as terrible spending habits involves an inability to control ongoing expenses. The

social learning hypothesis postulates people learn spending habits from their parents

and other influential people (Luelle, 2018). According to Ollau et al. (2020), a young

adult's purchasing habits significantly impact how long their financial resources will last.

Instead of investing in long-term financial plans, young people spend their money

quickly on consumables (Decena & Abellanosa, 2022). Institutions should promote and

encourage increased student financial literacy. In contrast to indulgences like food,

 5

clothing, and other items, financially wise, students frequently devote more of their

budget to durable goods like housing, education, and investments (Frun et al., 2019).

Parental influence on saving, where youngsters typically have their first

opportunities to learn about money. Young people unconsciously gain financial

attitudes, behaviors, and financial literacy skills through interactions with family

members and observing and mimicking adult conduct (Anes, 2020). Parental support

has been a predictor of higher overall savings among young adults (Nyhus, 2018), and

intentional parental guidance is essential for developing young people's financial literacy

(Jorensen, 2018). Parents are the primary source of information for young people when

they seek financial knowledge (Marisan et al., 2019).

In reality, it's widely accepted that parental influence on a child's financial

aptitude declines with age and ends when the child enters the workforce in its entirety.

Because of this, the bulk of studies that examined the development of emerging adults'

financial capacities focused on their experiences when they started their careers,

pursued more education, or reached financial independence (Mayen et al., 2019;

Shermin et al., 2020). 2019 (Lee and Mortimer). Parents and other family members are

still the most trustworthy sources of financial guidance for young adults between the

ages of 18 and 24. However, after that, the relevance of parents virtually vanishes from

the research literature, according to Curran et al. (2018).

Although it is known that parental saving behavior has a lasting impact (Knowles

& Postlewaite, 2018; Ward, 2019), parents need more to teach their adult children about

saving for retirement beyond the residual attitudinal effect. Rarely is the level of parental
 6

involvement in adult children's daily retirement savings decisions highlighted in the

literature on savings and financial literacy.

Financial consciousness is assumed to require the ability to decide, which

develops in early life when children understand social norms (Narchelti et al., 2019). As

young adults leave their parents' homes and gain financial independence, non-parental

influences become more crucial. Young people frequently assert that they feel self-

conscious about their financial literacy (Acosta, Fulgencio, & Decena III, 2019), and they

claim that other individuals influence their spending patterns, particularly their

justifications for impulse purchases (Neill, 2018).

Financial planning and personal finance are topics of growing student interest

and concern for many adults. Planning in this manner considers a person's current

situation and their goals to gradually develop and expand their capacity to handle their

financial demands concerning credit and cash management, tax planning, insurance,

risk management, investment, retirement, and estate planning. (Ghife, 2018). Based on

Ong (2021), personal financial planning is necessary if a person wishes to increase their

living level, lower their chance of bankruptcy, make prudent investments, and

accumulate enough wealth. According to Sham (2018), financial planning is organizing

a person's financial and personal information to create a strategic plan to positively

manage income, assets, and liabilities to achieve short- and long-term goals and

objectives. Understanding financial difficulties and the financial management process is

necessary for effective personal financial planning (Voen et al., 2018).

 7

Debt attitude, The dominance of possession and acquisition in consumers' lives,

as well as the utilization of material things to achieve key life goals are all examples of

materialism, according to Cwynar (2020). In light of this, materialists are characterized

as shoppers always looking for their subsequent pointless acquisition (Cwynar, 2020).

Many studies have examined the link between materialism and debt. According to

Jamilakhon (2020), more materialistic People tend to regard debt and spending

favorably than less materialistic people. A recent study by Singh (2020) found that

student's ability to manage their money harms how much obligation they have, with

better managers having less debt. Students borrow money because they think their

current financial condition is just transitory and that paying it back once they graduate

and find employment will be simple, as Haydee's (2019) reasoning. It also asserted that

when students accumulate more debt, their attitudes toward debt strengthen, and they

accept it.

Many people engage in Compulsive Spending, an excessive form of consumer

purchasing, and as a result, are typically profoundly in debt (Ridgway, 2018). Because

compulsive buying activity and obsessive-compulsive behavior share many traits and

symptoms, including a lack of impulse control, some authors (Kinney, 2018) examine

impulse buying in terms of what might be better defined as compulsive buying behavior.
 8

Theoretical Framework

Consumer theory studies how people decide how much money to spend

depending on their tastes and available budgets. According to their general funds and

the prices of goods and services, people make decisions according to consumer theory,

a branch of microeconomics (Liberto, 2023).

According to the Family Financial Socialization Theory (Gudmunson & Danes,

2011), families are one environment where financial socialization occurs, with parents

playing an important role. Family financial socialization theory developed gradually over

time, acquiring additional iterations as it did so (see, for instance, Beutler and Dickson,

2008). Gudmunson and Danes' (2011) seminal paper, which provides family financial

socialization as a theory directly, has improved and united family financial socialization

research. What parents teach (and do not teach) their children about money will affect

those children's financial wellness both now and in the future (Gudmunson and Danes,

2011Family financial socialization that takes place during childhood and adolescence

(from birth to age 17) is critical in building the framework for and is directly connected

with, economic outcomes (Serido et al., 2015), even though it continues after the age of

18 (Serido et al., 2015).

In the theory of Social Cognitive Theory (Bandura, 1971), a person's behavior is

influenced by how they observe other people and how their behavior and cognitive

processes interact. Socialization, the process through which people learn about values

and norms, may be dramatically different for individuals if they do not discuss or

observe saving activities in their families of origin or by peers (Gutter et al., 2008).
 9

People learn to manage their money in various ways early, frequently leading to poor

habits. Financial issues start to affect young adults often. This issue arises because kids

lack financial literacy and are forced to make challenging financial decisions at a young

age, particularly at the beginning of their careers. They ultimately made the wrong

choice, which had a terrible impact on their life. Thus, effective measures for addressing

these issues and assisting the young population in developing financial literacy must be

created by legislators. The variety and ongoing advancements in the financial markets

and financial services industry are to blame for these financial problems (Mandell &

Klein, 2019). To achieve economic well-being, people must be financially educated to

recognize and distinguish between various providers, products, and services (Wagland

& Taylor, 2019).

Conceptual Framework

This study utilized an Input-Output (IPO) Model, a functional graph designating

the input, output, and data processing needed to transform information into production.

It is a standard method employed by researchers in numerous fields.

Further, the study focused on input components. The variable is spending habits

with the following indicators parental influence on savings, financial consciousness,

financial planning, debt attitude, and compulsive Spending. The next component is

determining the level of spending habits among TNHS. The input data will be collected

from grade 12 ABM students through the administered survey questionnaire; data

collected will be undergone a statistical analysis to interpret results.

 10

An intervention scheme will be proposed based on the result of the study. The

intervention will be implemented as a seminar-workshop on enhancing students'

spending habits.

INPUT PROCESS OUTPUT

Proposed
Program
Spending Habits -Survey Data Collection
intervention
-Parental influence on -Administering Survey
“Seminar-Workshop
saving Questions to
on Spending Habits
-Financial Consciousness respondents
Focusing on Debt
Financial Planning
-Statistical/Analysis of Attitude and
-Debt Attitude
Data that will be gathered Compulsive
-Compulsive Spending Spending”

Figure 1. The Conceptual Model Shows the Input-Output (IPO) Model, a functional
graph that designates the input, output, and data processing needed to transform
information into production.
 11

Significance of the Study

This study aimed to provide valuable information on financial practices and

spending habits among accountancy, business, and management students of Tacurong

National High School. Thus, the result will benefit:

Students. This study will be a great help to ABM students to identify their

spending habits in daily life. Learning about finance at a young age is essential so there

will be no struggles in the future. It helps them deepen their conceptual understanding

of finance.

Teachers. This may help them inform the students about spending habits and

guide them through their journey.

The parents. They might help their child to be more open and conscious about

their spending habits.

School. The school will be aware of this problem and assist its future students in

learning about spending habits.

Community. The community will be aware and work to support young children

and encourage responsible spending habits.

Future researchers. The result is the basis of further studies and can be used

as related literature.
 12

Definition of Terms

To establish a clearer understanding of this study, the following terms are defined

operationally:

Spending Habits refer to spending the same way with the same conditions. It

also refers to who has complete control to make thoughtful decisions

Parental Influence On Savings refers to the savings habits that children's

parent's implant in them from a young age so that they can create and develop healthy

saving habits from a young age to adulthood. It will be simpler for people to handle their

finances effectively when saving habits are established and developed.

Financial Consciousness refers to a person's awareness of their power to

influence their financial outcomes, as well as their willingness to take action and level of

financial intelligence.

Financial Planning is a long-term strategy for effectively handling your money to

fulfill your objectives and aspirations while overcoming the financial obstacles that

invariably appear at every stage of life. Goals must be set to construct a solid financial

plan.

Debt Attitude refers to the ability to handle one's finances or financial literacy. It

also describes a person's approach to and strategies for managing debt.

Compulsive Spending refers to a person who spends so much time and energy

shopping and thinking about shopping that it significantly affects their quality of life.
 13

Chapter 2

METHOD

This section discusses the investigation's appropriate methodologies. It covers the

research design, location, population and sample, research instrument, data collection,

statistical tools, and ethical considerations.

Research Design

A quantitative research design is a descriptive method used in this study. Low-

inference description is the main focus of qualitative descriptive investigations, which

enhances the possibility of consensus among several researchers. Instead of the level

of rigor, the difference between high and low inference approaches refers to the amount

of logical reasoning required to move from a data-based premise to a conclusion.

Although qualitative description-based researchers may interpret their results via a

relevant interpretive theory or conceptual framework, they are open to changing that

framework as the study continues (Sandelowski, 2010).

Research Locale

The study was conducted in Tacurong National High School in Barangay New

Isabela, Tacurong City, Province of Sultan Kudarat, the most prominent and highest

public school in Tacurong City. This site is helpful to the researcher, making it ideal for

the research.
 14

Figure 2. Map of the Locale of the Study

Population and Sample

The study used convenience sampling to select respondents who could provide

accurate data. Convenience sampling, also known as haphazard sampling or accidental

sampling, is a type of nonprobability or nonrandom sampling in which members of the

study's target population are only included if they meet specific practical requirements,

such as being easily accessible, living nearby, being available at a particular time, or

being willing to participate. It can also apply to demographic research subjects that are

simple for a researcher to get (Etikan et al., 2016). Eighty-five (85) Grade 11 and eighty-

five (85) Grade 12 ABM students of Tacurong National High School were the study's

responders. Twenty-eight (28) respondents from the two sections of grade 11 ABM

students and twenty-nine (29) respondents from the third part comprise the

respondents. Tacurong National High School students in the two portions of the grade

12 ABM survey received responses from 42 to 43 respondents, respectively.

 15

Respondents must also fulfill the requirements below to participate in this study.

They must meet the following criteria: (a) be an ABM student in grades 11 and 12, and

(b) be enrolled at Tacurong National High School right now (TNHS). Anytime a

respondent feels uncomfortable, intimidated, or as though they might experience real or

imagined physical, psychological, or emotional harm, they are allowed to exit the

survey.

Research Instrument

The instrument spending habits were adapted to Philippot, C.M. (2020). The

survey questionnaire was customized and adjusted to meet the study's respondents.

The survey was revised to suit better Tacurong National High School students studying

accountancy, business, and management students.

The following rating scale was used on the survey questionnaire:

Rating Description Level

Scale
5 Strongly agree

4 Agree

3 Moderately Agree

2 Disagree

1 Strongly Disagree
 16

Data Interpretation

The instrument of spending habits was adapted from Philippot (2020). The result of

the study of spending habits will be interpreted using the respondent's responses.

Range of Descriptive level Interpretation

means
4.20-5.00 Very High This means that spending habits are always

observed

3.40-4.19 High This means that spending habits are oftentimes

observed.

2.60-3.39 Moderate This means that spending habits are sometimes

observed.

1.80-2.59 Low This means that spending habits are rarely

observed.

1.00-1.79 Very Low This means that spending habits are not

observed.
 17

Data Collection

Many methods were employed in collecting the data. First, authorization to

perform the study is the initial step, which was done by asking the principal office, then

the research coordinator, then the academic track coordinator, and finally the ABM

strand head.

The experts validated the survey questionnaire before approving it. The overall

rating of the validators is 4, which is interpreted as very good. This showed that the

questionnaire was approved to be distributed. After the expert's approval, the

researcher distributed the survey questionnaire to the grade 11 (Other Strand) students

in the morning. Twenty-eight (28) survey questionnaires were given to Druker and

Taylor students, while twenty-nine (29) were to Fayol students. Eighty-five survey

questionnaires were given back to the researcher. In the afternoon, the researcher

distributed the survey questionnaire to the grade 12 ABM students: forty-two (42) Porter

students and forty-three (43) Pacioli students. Eighty-five (85) survey questionnaires

were returned to the researcher, one hundred seventy (170). The next step is solving

the study's Cronbach alpha and identifying the spending habits' level.
 18

Statistical Tool

The researcher observed all ethical guidelines and standards while carrying out

the study, as well as the protocol's evaluations and measures, particularly in the

management of the study's population and data, as stated below:

Voluntary Participation. The study's participants were given the option of

participating or not at their discretion. An explanation process was also presented to a

potential respondent who was also approached. There were specific instructions about

the respondents' rights to decline or withdraw from the survey.

Privacy and Confidentiality. Respondents shall not be required to divulge

personal information if they do not choose to. Researchers would refrain from harming

or threatening their respondents out of respect for them.

The Informed Consent Process. The study's respondents received enough

information regarding the study's objectives, risks, rewards, and participant rights.

Additionally, they had adequate time to read and comprehend the provided items or

information. Further, they got good chances to inquire and express their worries.

Recruitment. The researchers' standards and selection criteria were used to

identify the respondents for this study. Only those deemed qualified for the study will be

allowed to participate.

Risks. Using face-to-face distribution, the researchers used a survey

questionnaire. Additionally, to protect both the safety of the respondents and the

researchers while conducting the study and to prevent COVID-19, the researchers

strictly follow the protocol policies.

 19

Benefits. The research will significantly increase the school's understanding

because it will give them advice and some insights that can be used to search for other

elements that can drive students. This research can help future researchers define their

preferences.

Plagiarism. There is no evidence that the researcher misrepresented their

findings as another researcher's. To avoid accusations of plagiarism or irregularity, all

sources used in the research must be accurately identified and attributed. Plagiarism

detection from Grammarly will also be used.

Fabrication. The study was founded on several trustworthy and precise

investigations. The researcher carefully stated the writers' thoughts based on their

concepts rather than inventing a plot based on the literature. There was no intentional

falsification of data or results or presentation of conclusions. The references were

mentioned correctly.

Falsification. The data were neither falsified nor embellished as part of the

research to fit it in.

COI, or conflict of interest. This study did not employ data collection methods

that would have created a conflict of interest. The validity of the analytical results and

the respondents' well-being were the study's only foci, and any secondary claims did not

impact it.

Deceit. It was promised to respondents that the data they submitted wouldn't hurt

them in any way. The respondents were not dishonestly or intentionally misled by the

researcher.
 20

Permission from Organization/Location. The principal office, the research

coordinator, the academic track coordinator, the ABM strand head, and a formal letter

approved by the research adviser all provided written consent before the poll was

undertaken.

Authorship. The authors of this research work were accurately identified by their

contributions to the investigation and reporting. The research consultant is regarded as

a co-author. The co-authors must obtain approval from the other co-authors before

using the study if one of them plans to.

 21

Chapter 3

RESULT AND DISCUSSION

This section gives data and a breakdown of results and discussion based on the
spending habits of Accounting, Business, and Management students of Tacurong
National High School. The following sub-heading was used to organize the conferences:
Spending Habits.

Level of Spending Habits

Table 1 shows the level of Spending Habits of ABM students. The overall mean
score on Spending Habits is 3.98, which is described as high. This means that the
Spending Habits of ABM students are oftentimes observed. Parental influence on
saving got the highest mean level of 4.39 with a descriptive story of very high, and
compulsive Spending got the lowest mean level of 3.75 with a descriptive level of high.

Table 1. Level of Spending Habits

Indicators Mean Descriptive level.

Parental Influence on Saving 4.39 Very High
Financial Conscientiousness 4.15 High
Debt Attitude 3.83 High
Compulsive Spending 3.75 High
Overall Mean 3.98 High

A study by Robertson (2020), young people typically get their first opportunities

to learn about money through parental influence on saving. According to Narchelti et al.

(2019), financial awareness involves decision-making skills that emerge when children

understand social standards in early childhood. Bachmann (2022) asserts that personal

financial planning is essential for raising one's standard of living, reducing one's risk of

bankruptcy, making wise investments, and building up sufficient wealth. A recent study

by Singh (2020) found that students' ability to manage their money hurts how much debt
 22

they have, with better managers having less debt. Kinney (2018) examines impulse

buying in terms of what they might better define as compulsive buying behavior.

Table 1.1 shows the level of each question of the Parental Influence on the

Saving indicator. The result shows the overall mean rating is 4.39, with a descriptive

story of very high. Specifically, all the questions got a very high descriptive level. Q1 got

the highest mean rating of 4.48, and Q4 got the lowest score of 4.24.

Table 1.1 Level of Spending Habits in Terms of Parental Influence on Savings

Questions Mean Descriptive level.

Q1: As a student, my parents taught 4.48 Very high
me to keep extra money as a safety net.
Q2: My parents taught me the importance of 4.42 Very high
money and that it is a limited resource
Q3: Growing up, I was taught the 4.43 Very high
importance of saving money for the future.
Q4: My parents gave me specific advice on 4.24 Very high
how I might save money on my own
Section Mean 4.39 Very high

Bona (2018) states that a student's financial situation is strongly influenced by

their familial background. Parents significantly impact how their kids think about life and

money management. To offer themselves the best chance of success as adults, young

people must start learning about finance when they are still young. Based on Sato

(2018), children acquire financial literacy through social interactions mediated by people

in their immediate environment, primarily their parents.

Table 1.2 shows the level of each question of the Financial Conscientiousness indicator.

The results show the overall mean rating is 4.15, with a descriptive story of high.
 23

Specifically, Q3 got the highest mean rating of 4.30 with a descriptive level of very high,

and Q1 got the lowest mean rating of 4.04 with a descriptive story of high.

Table 1.2. Level of Spending Habits in Terms of Financial Conscientiousness.

Questions Mean Descriptive level.

Q1: To help my parents save, I take 4.04 High
care of how I spend the money they
gave me.
Q2: I need to repay my parents for the 4.13 High
things they buy me by assisting them
whenever I can
Q3: I'm careful with the money my 4.30 Very high
parents give me
Q4: Before buying something, I 4.10 High
carefully consider my budget.
Section Mean 4.15 High

Financial consciousness measures an individual's awareness of their ability to

influence their economic outcomes, including their level of financial literacy, level of

understanding of their power to influence their financial results, level of willingness to

engage in complex financial matters, and status of the capability to do so (Delloite,

2018). Economic consciousness is a thorough gauge of one's financial knowledge and

conduct, but it doesn't measure one's financial health or self-assurance in one's

capacity to make wise monetary judgments (Attril, 2020).

Table 1.3 shows the level of each question of the Financial Planning indicator.

The results show the overall mean rating is 4.00, with a descriptive story of high.

Specifically, all the questions got a high descriptive level. Q1 and Q2 got the highest

mean rating of 4.05, and Q3 got the lowest mean rating of 3.91.
 24

Table 1.3 Level of Spending Habits in Terms of Financial Planning

Questions Mean Descriptive level.

Q1: I take responsibility for my 4.05 High
parents' money
Q2: I attempt to save money in case I 4.05 High
need
Q3: I maintain track of my financial 3.91 High
obligations
Q4: I take great care when making 3.99 High
financial decisions
Section Mean 4.00 High

Although more academic research is desperately needed to support the

theoretical foundations of financial planning as a unique profession and to guide the

implementation of financial planning tools, the study offers students a priceless chance

to impact the field (Black et al., 2019). Howe (2019) discovered that an individual's

thoughts and attitudes toward financial planning appear influenced by their educational

and employment goals.

Table 1.4 shows the level of each question of the Debt Attitude indicator. The

results show the overall mean rating is 3.83, with a descriptive story of high.

Specifically, all the questions got a high descriptive level. Q1 got the highest mean

rating of 4.08, and Q2 got the lowest mean rating of 3.68.

Table 1.4 Level of Spending Habits in Terms of Debt Attitude

Questions Mean Descriptive level.

Q1. I am concerned about accruing 4.08 High
debt while in school.
Q2. borrowing money to buy food is 3.68 High
ok
Q3. I'm concerned that my debt 3.86 High
payments will become unaffordable to
pay.
Q4. I cut back on Spending to reduce 3.71 High
 25

my debt.
Section Mean 3.83 High

The results are examined using a behavioral theory of attitude transformation

and the life cycle theory of economic behavior (Lea, 2018). Since most students

originate from wealthy socioeconomic situations, they must take on debt to sustain their

desired standard of living. Then, to remain consistent, they alter their beliefs regarding

debt tolerance (Davies, 2018).

Table 1.5 shows the level of each question of the Compulsive Spending

indicator. The results show the overall mean rating is 3.75, with a descriptive story of

high. Specifically, all the questions got a high descriptive level except for Q3, which

brought the lowest mean rating of 2.87 with a descriptive report of moderate, and Q2

got the highest mean rating of 3.79.

Table 1.5 Level of Spending Habits in Terms of Compulsive Spending

Questions Mean Descriptive level.

Q1. I purchased items despite my 3.45 High
inability to pay
Q2. treat me to anything that might 3.79 High
cheer me up.
Q3. I've had anxiety on days when I 2.87 Moderate
didn't go shopping
Q4. At the end of the day, if I have 3.37 High
some money, I spend it.
Section Mean 3.75 High

Horváth et al. (2018) state that "the lack of cross-culturally validated scales" is
the primary cause of the inadequate attention given to compulsive Spending. By
Saravena et al. (2018), compulsive Spending can lift one's mood, increase self-esteem,
and bring momentary fulfillment.
 26

Proposed Program Intervention

The researchers used the collected data to improve students' spending habits

through a proposed intervention program. The proposed intervention program is

"Seminar-Workshop on Spending Habits Focusing on Debt Attitude and Compulsive

Spending."

Proposed Activity

I. Title:

"Seminar-Workshop on Spending Habits Focusing on Debt Attitude and

Compulsive Spending"

IV. Objectives

1. To conduct Seminar and Workshop on Spending Habits for ABM Students in

TNHS;

2. To provide a fundamental idea to the students regarding debt attitude and

compulsive Spending; and

3. To form and expand thinking which develops ABM students' academic

knowledge, which will, in turn, enhance their spending habits.

 27

Chapter 4

CONCLUSION AND RECOMMENDATION

Conclusions

• The mean level of spending habits is high, showing that spending habits are

oftentimes observed.

• The mean level of Parental Influence on savings is very high, indicating that

parental influence on savings is always observed.

• The mean level of Financial Consciousness is high, indicating that financial

consciousness is oftentimes observed.

• The mean level of Financial Planning is high, indicating that financial planning is

oftentimes observed.

• The mean level of Debt Attitude is high, indicating that debt attitude is oftentimes

observed.

• The mean level of Compulsive Spending is high, indicating that compulsive

Spending is oftentimes observed.

Recommendation

• Since the level of spending habits is high, the school should hold a workshop to

help the students balance their spending habits and help them improve and to

have wise decisions for their future.

• Parental Influence on Saving is very high; parents should set a good example for

their children so that they do not develop negative spending habits.

 28

• The student's level of financial consciousness is high; they should maintain and

improve to assist themselves in being thrifty now and in the future.

• The level of financial planning is high; the student should maintain and improve

to assist themselves in becoming financially savvy.

• The debt attitude is high, implying that teachers and parents should teach the

pupils about debt and how it will affect their future.

• The level of Compulsive Spending is high, implying that the teacher and parents

should assist the youngster in understanding how to be thrifty and train them to

make sound financial decisions.

 29

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 32

APPENDICES
 33

Appendix C. Summary of Ratings Of Expert

Ratings Interpretation

Validator 1 4 Very Good

Validator 2 4 Very Good

Validator 3 4 Very Good

 34

Appendix D. Research Instrument

SURVEY QUESTIONNAIRE

FINANCIAL PRACTICES AND SPENDING HABITS AMONG ACCOUNTANCY,

BUSINESS, AND MANAGEMENT (ABM) STUDENTS IN TACURONG NATIONAL

HIGH SCHOOL (TNHS)

We are the ABM students of TNHS and we are asking for your time and support to
be part of our research study. Your active participation and cooperation in this study are
a great help to us and the ABM students of TNHS. Rest assured that the data gathered
will be kept strictly confidential.

Name: (optional) ___________________________________

PART I. FINANCIAL PRACTICES

Instruction: Please respond to the statements honestly by indicating the degree

to which each item describes you. There is no right or wrong answer. Check (/) the
space provided in each item that closely corresponds to how you think or feel about
each statement using the rating scale below.

Rating Scale and Description:

5 STRONGLY AGREE (The statement is always true)

4 AGREE (The statement is often true)
3 MODERATELY AGREE (The statement is sometimes true)
2 DISAGREE (The statement is seldom true)
1 STRONGLY DISAGREE (The statement is almost never true)

5 4 3 2 1
 35

Parental Influence on Savings

Q1. As a student, my parents taught me to keep extra money as a
safety net.
Q2. My parents taught me the importance of money and that it is a
limited resource.
Q3. Growing up, I was taught the importance of saving money for the
future.
Q4. My parents gave me specific advice on how I might save money
on my own
Financial Conscientiousness
Q1. To help my parents save, I take care with how I spend the
money they gave me.
Q2. It's important for me to repay my parents for the things they buy
me by assisting them whenever I can.
Q3. I'm careful with the money my parents give me.
Q4. Before buying something, I carefully consider my budget.
Financial Planning
Q1. I take responsibility for my parents' money.
Q2. I attempt to save money in case I need it more in the future.
Q3. I maintain track of my financial obligations.
Q4. I take great care when making financial decisions.

*Adapted from the study of Philippot, C.M. (2020)

PART II. SPENDING HABITS

Instruction: Please respond to the statements honestly by indicating the degree
to which each item describes you as a supervisor. There is no right or wrong answer.
Check (/) the space provided in each item that closely corresponds to how you think or
feel about each statement using the rating scale below.

Rating Scale and Description

5 STRONGLY AGREE (The statement is always true)
4 AGREE (The statement is often true)
3 MODERATELY AGREE (The statement is sometimes true)
2 DISAGREE (The statement is seldom true)
1 STRONGLY DISAGREE (The statement is almost never true)

5 4 3 2 1
Debt Attitude
Q1. I am quite concerned about accruing debt while in school.
 36

Q2. borrowing money to buy food is ok

Q3. I'm concerned that my debt payments will become unaffordable
to pay.
Q4. I cut back on spending to reduce my debt.
Compulsive Spending
Q1. I purchased items despite my inability to pay
Q2. I treat myself to anything that might cheer myself up.
Q3. I've had anxiety on days when I didn't go shopping.
Q4. At the end of the day, if I have some money, I just spend it.

*Adapted from the study of Philippot, C.M. (2020)

Thank you very much!

God Bless and Keep Safe
 37

Appendix F. Plagiarism Checker Results

38
 39

Appendix G. Grammarly Checker Results

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