Department of Education

Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL
Olongapo City

Financial Literacy Of
Grade 11 ABM Students In
A Public School

by

Jan Carlos G. Alcaraz

Abbigail P. Basa
Raiene Gutierrez
Jude Dominique Y. Menor
 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 2
Olongapo City

Introduction

Financial Literacy (Salleh, 2017) is defined as the ability to understand the

money’s language. It means that people had to be financial literate to stabilize their
financial situation. It is important to be financially literate especially as a public
school student who often have money problems. Bird (2008) conducted a research in
Australia entitled “Financial Literacy among University Students: An Australian
Case Study” which found out that Australian University Students have satisfactory
level of general financial literacy. However, there are areas wherein they scored low.
It was also found that low financial literacy is associated with certain demographic
characteristics. Comparing with this research study, this related search’s respondents
are university students in Australia while this study respondents and settings are
Senior High School Students specifically MSHS – a public school.

Research Locale

Mabayuan Senior High School initially housed at Gordon Heights National

High School in 2016. Its official building opened to students in 2017 at Otero Ave.
Mabayuan, Olongapo City.

Figure 1: Map Showing the MSHS

 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 3
Olongapo City

Conceptual Framework

This research will be following the Input, Process and Output method first. In
Input includes the survey questionnaire that includes the Respondents Profile,
Financial Behavior and Financial Knowledge. Secondly, the Process and Statistical
Treatment wherein Frequency Count, Percentage, Mean and T-Test is founded.
Lastly is the expected Outcome which includes the recommendation on improving
the Financial Literacy of students and better awareness in handling finances.

Figure 2: Research Paradigm

I. Respondents I. Data Gathering I. Recommended

Profile Procedure Steps on Improving
Financial Literacy of
A. Age II. Statistical Students.
B. Stand Treatment
C. Sex II. Better Awareness
1. Frequency on Handling
II. Questionnaire Count Finances
Survey 2. Percentage
3. Mean
A. Financial 4. T-test
Behavior
B. Financial
Knowledge

Hypothesis

If age is related to budgeting then it depends on the level of experience in

handling finances.

If the sex of respondents differs on their approach in budgeting then assuming

the females spend more.

If financial behavior is responsible then it is assumed that the finances is

handled right.

If financial knowledge is enough then the respondents knows what is needs,

wants and luxurier.
 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 4
Olongapo City

Statement of the Problem

1. How may the respondents profile be described in terms of:

1.1. Age
1.2. Strand; and
1.3. Sex?

2. How is the Financial Literacy of the respondents described in terms of :

2.1. Financial Behavior; and
2.2. Financial Knowledge?

3. Is there a significant relationship between the respondents profile and

financial literacy?

Scope and Delimitation

In Mabayuan Senior High School, there are two tracks: Academic Track and
Technical Vocational and Livelihood (TVL) Track. The Academic Track has three
(3) Strands: Accountancy and Business Management (ABM), Humanities and Social
Sciences (HUMSS), and General Academic Strand (GAS). However, TVL has two
(2): Information and Communication Technology (ICT) and Home Economics (HE).
The researchers’ respondents were the Academic Track specifically the ABM
that is taught more about the soft skills importantly and assuming that financial
literacy is among them.
The Researchers also preferred the Grade 11 because awareness is important
and this tends to enlighten them of their financial literacy. These students could be
mentally prepared for financial spending for Grade 12 and college years.

Significance of the Study

Student. To give them proper knowledge or awareness on their finance.

Also, to prepare them about financial spending.
Parents. Parents are known to be concerned about their children. This
research tends to enlighten them about on financial behavior and knowledge of their
children.
Teachers. For them to gain awareness from the result on how the students
spend money and educate them more on low-score areas.
 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 5
Olongapo City

Definition of Terms

Financial literacy is the possession of the set of skills and knowledge that allows an
individual to make informed and effective decisions with all of their
financial resources.

Financial Situation is the standing of a person when it comes of financial literacy.

Public School is a non-fee school founded and operated by the state

.
Accounting and Business Management (ABM) combines financial planning with
knowledge of people and processes. You will learn techniques and understand
concepts and debates in organizational behavior, financial and management
accounting, marketing and human resources.

University is an institution of higher education and research which awards academic

degrees in various academic disciplines. Universities typically provide undergraduate
education and postgraduate education.

Senior High School (SHS) covers the last two years of the K to 12 program and
includes Grades 11 and 12. In SHS, students go through a core curriculum and
subjects under a track of their choice.

The Academic Track is simply the track that prepares students for the most
common college courses such as business management, engineering, and the
sciences.

Financial Behavior is the persons or students characteristics on how they handle

their finances.

Financial Knowledge is the person’s knowledge on how rightly or wrongly expend

his or her money.

Budgeting is the process of creating a plan to spend your money. This spending plan
is called a budget. Creating this spending plan allows you to determine in advance
whether you will have enough money to do the things you need to do or would like
to do. Budgeting is simply balancing your expenses with your income.

Luxurier is the state of greater comfort and more extravagant living.

 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 6
Olongapo City

Research Methodology

This study employed quantitative descriptive design in research. Quantitative

is the standard experimental method of most scientific disciplines according to
Martyn Shutterworth (2008). Furthermore in quantitative research your aim is to
determine the relationship between overthing can independent variable and a
dependent variable in a population.
Quantitative research designs are either descriptive (subjects) usually
measure or experimental (subjects before and after a treatment). A descriptive study
stablishes only association between variables (Hopkins 2002) – on the other hand,
descriptive research design is a scientific method which involves observing and
describing the behavior of a subject without influencing it in any way – stated by
Martyn Shutterworth (2008). Furthermore, Descriptive research is a study designed
to depict the participants in an accurate way. More simply put, descriptive research is
all about describing people who take part in the study (Kawalczyk n.d)

Respondents

The respondents of this study were the 21 students of Accountancy and

Business Management, Academic Track of Mabayuan Senior High School during
S.Y. 2018-2019 whom were requested to respond on a voluntary basis in this study.
Respondents were selected via convenience sampling of non-probability method
where in all the members of population given an equal chance of being selected. The
researchers distributed the questionnaires to the target respondents and retrieved.

Instrument.

A Likert scale is a psychological measurement device that is used to gauge

attitudes, values, and opinions, according to Yolanda Williams (n.d). It is commonly
used in research that employs questionnaires. Likert-scale questionnaire was the
main instrument employed in the collection of data which was in the part II of two
part questionnaire. Part I, the profile of respondents and the part II, the financial
literacy.

Part I. The Personal Profile. This part of the instrument generated the
personal needed in this study. This included age, strand and sex.
Part II. Financial Literacy of ABM. This following items were taken from
utech works. Here were the 2 financial literacy which contained the Likert-scale
items constructed its given category.
A. Financial Behavior
B. Financial Knowledge
 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 7
Olongapo City

Validation of Instrument

The researchers began with reviewing related literature. To make sure that the
instrument functioned for its intended purpose, the questionnaire has first reviewed
by our Inquiries, Investigation, and Immersion Teacher to guarantee its validity and
reliability. Then random 12-HUMSS students were requested to join the trial
necessary recalibration applied.

Data Gathering Procedure

The researchers utilized this data gathering procedure. The first step used was
asked permission from the adviser to conduct a survey. The questionnaire was
distributed to the respondents after securing the permit. Copies of the approved
questionnaire were distributed in order to gather the relevant data. The instrument
were retrieved after they were finished answering the raw data were tallied and
computing the data.

Treatment of Data

The data gathered from the returned questionnaires were tallied, tabulated
and analyzed using the quantitative analysis of data. The statistical tools which were
used in the study were:
Percentage. This was used to determine what proportion of the respondents belongs
to a specific category in relation to their personal profile.

Formula: % = F
N
Where: % = Percentage
F = Frequency
N = Total Number of Respondents
100 = Constant Value

Mean. This was used to determine the mean and the final weight of each item in the
study of Effectivity in School Programs and Policies.

Formula X = F
N
Where: X = Mean
 = Summation Symbol
F = Frequency
X = Weights of each item/ Midpoint
N = Number of cases
 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 8
Olongapo City

Likert Scale. The Effectivity of School Programs and Policies were categorized in
five (5) degrees or extent of frequency using indicators. The raw data supplied by the
respondents were tallied and presented in tubular forms for analysis and
interpretation. Responses on the items in the questionnaire were subjected to the
frequency counts, percentage and mean scores.

PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA

This section of the research paper presented, analyzed, and discussed the
gathered data.

Profile of the Respondents

TABLE 1
Profile to the Respondents as to Sex

SEX FREQUENCY PERCENTAGE

Male 7 32
Female 15 68
Total 22 100

Table 1 showed the frequency distribution of the respondents according to

their sex. The male respondents have a total of 7 which corresponds have a total of
32% while the total for female respondents were 15 that corresponded to 68%.

TABLE 2
Profile to the Respondents as to Age

AGE FREQUENCY PERCENTAGE

16 6 27
17 12 55
18 3 14
19 and above 1 4
Total 22 100
Table 2 shows the distribution of respondents according to the age. Ages 16
years old were a total of 6 that corresponds to 27% while 17 years old have a total of
12 which corresponds to 55% while the ages 18 years old have a total of 3 which
 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 9
Olongapo City

corresponds to 14% then the ages 19 years old have a total of 1 which corresponds to
4%.

Factors Frequency X Interpretation Ranking

Financial
Behavior
1. I spend 61 2.77 Agree
according to
an establish
personal
budget
2. Before I buy 76 3.45 Strongly
something, I Agree
consider
whether if I
can really
afford it.
3. I tend to live 85 3.86 Strongly 1
for today and Agree
let tomorrow
take care of
itself.
4. I am 73 3.32 Strongly
preferred to Agree
risk some of
my money
when saving or
making an
investment.
5. I find it 53 2.40 Disagree
more
satisfying to
spend my
money than
saving it for
long term.
Over Weighted Mean – 3.16 – Agree

Financial Frequency Interpretation Ranking

Knowledge X
6. I know how 61 2.77 Agree
 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 10
Olongapo City

personal
financial
literacy can
help me in
future.
7. I know how 77 3.50 Strongly 2
to protect Agree
myself on
possible
financial fraud
or scams.
8. I have 75 3.40 Strongly 3
personal Agree
financial
planning for
my needs and
goals.
9. I had 62 2.82 Agree
already learn
the right
approach to
investment for
future and buy
the right kind
of insurance.
10. I have 61 2.77 Agree
enough
knowledge
about
bankruptcy,
budgeting,
collection
practices,
insurance, and
investing.
Over Weighted Mean – 3.05 – Agree

Table 3 shows the OWM of the Financial Behavior is 3.16 which corresponds
to Agree while the OWM of the Financial Knowledge is 3.05 which corresponds also
to Agree.
The result of the survey questionnaire which the highest in ranking is “I tend to live
for today and let tomorrow take care of itself.” Scored 3.86. While the middle is “I
 Department of Education
Region III
Schools Division Office of Olongapo City
MABAYUAN SENIOR HIGH SCHOOL 11
Olongapo City

know how to protect myself on possible financial fraud or scams.” Scored 3.50. Then
the lowest is “I have personal financial planning for my needs and goals.” Scored
3.40.

CONCLUSIONS AND RECOMMENDATIONS

This section of the research paper provided conclusions drawn from the
aforementioned findings. The researchers also offered recommendations and
measures to be undertaken to address the problem at hand.

Conclusions

 68% of the respondents are female while the male respondents got 32%.

 54.55% of the respondents are 17 years old, while 27.27% are 16 years old
while 13.64% are 18 years old then 19 and above get 4.55%.

 “I tend to live for today and let tomorrow take care of itself.” obtained the
highest point, 3.86 among the criteria in Financial Behavior category. On the
contrary, “I find it more satisfying to spend my money than saving it for long
term.” gained the lowest point, 2.40.

 “I know how to protect myself on possible financial fraud or scams.” attained

the highest point, 3.50, among the criteria in Financial Knowledge category.
On the opposite, statement no. 6 and 10 gained the lowest point, 2.77

Recommendations

Based on the conclusions and findings, we recommend that;