RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

THE RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING

SKILLS OF ABM STUDENTS IN HOLY NAZARENE CHRISTIAN SCHOOL YEAR

2023-2024

Abeleda, Avril Ann C.

Bayan, Nikka Kate S.

Casupang Neil, Jr D.

Cuizon, Princess Niña S.

Lucay Rainnel A.

Reyes, Herald M.

Tiongco, Wayne Joseph V.

RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Chapter I

THE PROBLEM AND ITS BACKGROUND

Introduction

Given how quickly the field of education is evolving, it is critical to comprehend

students' financial skills and habits. This study aims to investigate the complex relationship
between students' financial allowances and their development essential budgeting skills. The
study aims to bring light on young minds' financial skills by focusing on Accountancy,
Business and Management (ABM) students.
This could have an impact on these students' future financial responsibility and
stability. Money management is a skill that can empower people and open doors to a secure
future in the rapidly changing economy of today. Considering the importance of this
information, this study explores the circumstances of ABM students at Holy Nazarene
Christian School. The research looks for important patterns in the relationship between their
ability to effectively budget and the amount of money they get as allowances. The results of
this study might help in our understanding of students' financial habits and offer insightful
information to parents, legislators, and educators as well. Giving students strong budgeting
skills is essential in this day of economic uncertainty and swift technological progress.
This will help them handle the financial world's complexity with assurance and
competence. The goal is not only to identify the current situation but also provide practical
solutions that can enhance the budgeting skills of ABM students. By bridging the theory-
practice gap, the research seeks to offer useful recommendations that can have a positive
impact on current support systems and the educational approach. It is expected that as we
embark on this exciting journey, the study's findings will make significant contributions to
the larger discussion about financial education and provide direction for raising a generation
of financially responsible and literate individuals.
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Background of the Study

As stated by Miriam Caldwell (2019), another mistake that people make was by
classifying their wants as needs. When something is classified as a need, they do not consider
cutting back on it as much at first. They can also lump needs and wants into the same
category, which can make it harder. For example, food was considered a need, eating out a
want. Their necessities are needs, food, shelter, and power. Transportation within reason can
be a need depending on where you live. In addition, needs are something that the people must
have or need for survival and wants refers to something which is good to have, but not
essential for survival. That was a common mistake that people make when they are spending,
they don't classify their needs and wants. Also, students were spending their money on many
expenses but sometimes they just focus on spending their money on recreational activities.
According to Godfrey (2013), good money management skills are the process of budgeting,
saving, investing, and spending the cash usage. Though it is not something we are born with,
they are acquired over one’s lifetime through many successes and some failures as well. “An
allowance is not an entitlement or a salary. It is a tool for teaching children how to manage
money.” As cited by Caldwell (2017), allowance is an amount of money given. It is a need
for teenagers where they can save up for their wants or daily needs. Its history concerns the
development means of carrying out transactions involving a medium of exchange. Money is
any clearly identifiable object of value that is generally accepted as payment.
There is a motion that is working on teaching basic personal finances to high school
students before they graduate. A budget is clearly the key to succeeding financially. What
budgeting does is clearly show you how you allocate your money and present you the choices
on what stuff to enjoy – based on your financial limitations. It will save you the grief of
overspending and being too much in debt. Budgeting does not stop you from enjoying stuff; it
ensures that you enjoy stuff when you want it.
Although budgeting is indeed more work, it pays off with many life-enhancing
benefits: (1) Gives you control to your money; (2) Keeps you focused on your money goal;
(3) Makes you aware what is going on with your money; (4) Helps you organise your
spending and savings; (5) Makes you decide in advance how your money will work for you;
(6) Enables you to save for expected and unexpected costs; (7) Enables you to communicate
with your significant others about money; (8) Provides you with an early warning for
potential problems; (9) Helps you determine if you can take debt and how much; (10)
Enables you to produce extra money. Research conducted by Wong (2011) entitled
“Practices of saving among students” indicated that saving for retirement was students'
priority. Majority of students were aware that it is very extremely important to save for
retirement and that the age option of retirement gives students a clearer understanding of
saving at an earlier age and not saving only when they become employees. This study seeks
to know the relationship between money allowance and budgeting skills of senior high school
students. The researchers conducted this study to provide information that can benefit the
respondents and students in improving their skills about budgeting. Knowing budgeting can
be good for the students as they can be more responsible in spending their money wisely.
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Statement of the Problem

Generally, this study aims to know if there is a relationship existing between money
allowance and budgeting skills.

Questions:

1.) How does the money allowance given to ABM students in Holy Nazarene Christian
School impact their budgeting skills?

2.) How does the allocation and management of money allowance relate to the budgeting
skills of ABM students in Holy Nazarene Christian School?

3.) Is there a correlation between the amount of money allowance received by ABM students
and their budgeting skills?

Assumption and Hypothesis

Assumptions:
The research study is anchored to the assumption that this study can be a great use to
the other researchers.
1. The participants in the study are ABM students in Holy Nazarene Christian School during
the academic year 2023-2024.
2. The students have varying levels of money allowance, which will be categorised into low,
moderate, and high allowance groups.
3. The students have varying levels of budgeting skills, which will be assessed using a
standardised test or survey.
4. The study will control for other factors that may affect budgeting skills, such as age,
gender, and socioeconomic status.
Hypothesis:
H0: There is no significant relationship between money allowance and budgeting skills
among ABM students in Holy Nazarene Christian School.
H1: There is a significant relationship between money allowance and budgeting skills among
ABM students in Holy Nazarene Christian School.
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Theoretical Framework

Self-Control Theory by Hopwood in 1976, explains that this is down to student's

behaviour but this can be helped by a suitable system of rewards, e.g. performance related
pay. The object is to keep costs under control and, if possible, complete the project under
budget. The thought of this theory is in order for the students to know how to control
themselves on not spending their money or allowances on unnecessary stuff. Motivational
Theory by Kay Hofstede in 1967, explains that in order for the students to save or budget
+their allowances they must be motivated. The theory also explained that in saving, it's a
must to set a particular goal that will motivate you to achieve your budgeting plan. Budgeting
Planning Phase Theory by David Carnis in 2017, says that the overall budget planning phase
differs from the costing phase in that the budget planner takes a broader view. You must
identify specific resources - such as labour availability or sources of financing -- that are
necessary for each phase of a project. A budget planner also looks

Conceptual Framework

Money Budgeting
allowance skills

The relationship
between money
allowance and
budgeting skills

Figure 1. Conceptual Framework

RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Significance of the Study

This study aims to provide insights into the role of money allowance in developing
budgeting skills among students. The findings of this study can help educators and
policymakers understand the importance of financial education and budgeting skills in the
academic curriculum. Moreover, the study can help parents and guardians understand the
impact of money allowance on their children's budgeting skills and make informed decisions
about their children's financial education.

For Students

Understanding the relationship between money allowance and budgeting skills can
empower students to make informed decisions regarding their spending habits, savings, and
investments, contributing to their overall well-being.

For Teachers

Teachers can identify specific areas where students may struggle with budgeting
skills. This insight enables the development of interventions and support systems within the
school, fostering a more supportive learning environment.

For Future Researchers

The research may identify additional variables that influence budgeting skills,
opening avenues for further investigation. This can contribute to the broader field of financial
education and behaviour studies.
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Scope and Delimitation

Scope:
- The study will focus on ABM (Accountancy, Business, and Management) students
in Holy Nazarene Christian School.
- The study will examine the relationship between money allowance and budgeting
skills.
- The study will assess the financial habits, knowledge, and practices of ABM
students.
Delimitations:
- The study will only include ABM students from Holy Nazarene Christian School,
limiting the generalizability of the findings to other schools or student populations.
- The study will specifically focus on the relationship between money allowance and
budgeting skills, excluding other factors that may influence financial habits.
- The study will gather data through a survey administered via Google Forms. It is
important to note that the accuracy and reliability of the data collected may be
influenced by factors such as participant bias or potential inaccuracies in self-
reporting.

Definition of Terms

To better understand the study, below are the words defined in operational form:
Broader View - Taking a broader view means considering a more comprehensive
perspective or a wider scope.
Budgeting Skills - the ability of an individual to adopt a proactive approach towards
managing his/her own money.
Complex Relationship - are multiple factors and variables involved in how students'
allowances and their budgeting skills are interconnected.
Costing Phase - The costing phase is a stage in project management or financial planning
where the estimated costs associated with a project are determined.
Disseminating Information - The process of spreading or distributing information,
knowledge, or data to a wider audience.
Financial Habits - is the routines and behaviours individuals adopt in their daily lives
regarding money management.
Interrelate - To establish a connection or relationship between different elements, concepts,
or variables.
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Legislators - are elected officials who are responsible for making and passing laws at the
government level.
Motivational Theory - It explores the factors and forces that influence motivation, including
internal and external incentives.
Secure Future - implies having financial stability and the resources necessary to meet one's
financial needs and goals.
Statistical Statement - A formal declaration or presentation of numerical data and statistical
analysis results.
Standardised Test - They are used to measure individuals' knowledge, abilities, or skills,
and their results are typically compared to a standardised scoring system. Socio Economic
Status- SES is often used to understand and analyse disparities in health, education, and other
aspects of life.
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Chapter II

REVIEW OF RELATED LITERATURE

Local literature

According to Contante, E. R.., Toscano, E. M. G.., Domingo, E. R.., Almeniana, E.

B.., Rose, M. J. B.., & Tamon, C.-J. S. (2019), The academic performance of the students is
very important to both teachers and students as this reflects the effectiveness of the teaching-
learning process. However, effective allowance budgeting which falls outside the corners of
the normal teaching-learning process is deemed significant for the students because this will
benefit them not only for sustaining their everyday needs in school but also for helping them
be more prepared in the proper handling of finances. A qualitative method was used in the
study. Using a descriptive research design, it focused on the assessment of Grade 12
Accountancy and Business Management students and the effects of students' allowance
budgeting to their academic performance. There were four variables identified to be affected
by allowance budgeting, such as transportation, food, projects, and savings.

According to Rosales, B. A.., Cea, M. L.., Astarita’s, L.., Larisma, B. Concepcion, E.

and Tamon, C.-J. (2020), Budgeting is a plan that is used to decide the amount of money.
Good budgeting is spending less than you are earning as you plan for your financial goals. It
is also a process of creating a plan to spend and invest your hard-earned money wisely to
meet your personal financial goal. It should not be a mathematical exercise that we think we
have to endure; rather, it is the result of self-assessment of our relationship with money and a
necessary road map to steer toward a higher standard and quality of living. This study aimed
to improve the budgeting skills of students to know how to budget money the right way.
Following a budget or spending a plan will also keep them out of debt or help their way out
of debt. Budgeting shows all the monthly cash inflows and outflows, which will allow them
to achieve financial goals by helping them identify spending and saving habits. Given that
budgeting allows us to create a spending plan for our money, this study used a qualitative
descriptive research design. The researchers created and served survey questionnaires that
will help us gain insights into the study.

According to Condino, R. V., Del Monte, A.., Rodriguez, J. and Tamon, C.-J. (2020),
Financial literacy is the education and understanding of knowing how money is made, spent,
and saved. Students should understand how money works on their hands, how to spend
money with their decision, and how to spend the money on the right things. We used
Business Finance Subjects to enhance the student’s financial literacy. The primary purpose of
conducting this study was to make Grade 12 Accountancy, Business, and Management
students financially literate. The researchers used the survey method because this is the most
applicable method to use in gathering data. The design used was descriptive design because
the researchers observed that students find it hard to budget their allowance because they
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

spend a considerable amount on unnecessary things. The researchers also used convenience
sampling to select 50 Grade 12 students from the Accountancy, Business, and Management
Strand. The researchers also made and distributed 50 questionnaires to determine the things
that they may help the students with to be financially literate. Based on the findings of the
study, the factors influencing the financial status of the students were social media/media and
their group of friends. The students cannot manage their allowance properly because they
always hang out with their friends, buy things that they do not need, and spend a considerable
amount of money on trending products. Therefore, the study showed that Business Finance
lessons can help the students improve themselves by becoming financially literate. Spending
money with a plan, avoiding debt, learning how to save money, making decisions before
spending, controlling themselves to spend a considerable amount of money, and being wise
are the things that must be learned by the students.

According to Salonga, J.., Cahilig, A.., Endrina, J. C., Bayno, J., Ojales, L. J., Tamon,
C.-J. (2020), Following a budget planner can help the students to stop worrying about their
expenses such as food, transportation, and other school expenses. The purpose of this study is
to motivate Grade 12 ABM students to allocate their allowances the right way and share them
with the next generation. This study used the survey method to gather the needed
information. The researchers also used a descriptive research design. The respondents of the
study were 50 Grade 12 ABM Students who were selected through convenience sampling.
Based on the result of the study, using a weekly budget planner positively affected the budget
management of Grade 12 ABM students in terms of food allowances 60% of their allowances
were allocated to food and uncontrolled buying of food that was not according to their
budget, transportation allowances 20% of their allowances go to school practices and riding
expensive public vehicles, and other school expenses the mismanagement of allowances
resulted in a budget shortage. Based on the summary of the findings, the following
recommendations were made by the researchers on how Grade 12 ABM students should
allocate their allowances in terms of food allowances control what food they will buy, and
transportation allowances this study suggests applying a budget planner to have allowances
on unexpected practices, and other school expenses the students are suggested to apply
budget planner to avoid unexpected expenses.

According to Jerald (2020), The level of daily allowance provided to students has a
significant impact on their satisfaction with financial support. Students rely on this allowance
to cover their expenses and meet their basic needs. A higher daily allowance allows students
to have more financial freedom and flexibility, enabling them to better focus on their studies
and personal development. On the other hand, a lower daily allowance may lead to increased
financial stress and difficulties in managing their finances. Therefore, the satisfaction of
students with their financial support is closely tied to the level of their daily allowance.
Additionally, a student who is content with their financial aid is more self-assured, tolerant,
and less likely to experience stress due to their enhanced personal wellbeing. The results of
this study indicate that further research should be done on students who are creating their
own budgets in order to improve their abilities and raise their degree of satisfaction with
financial help.
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Christine Joy B Bermejo Home Economics (2019), The K to 12 program cover kindergarten
and 12 years of basic education (six years of primary education, four years of Junior High School and
two years of Senior High School (SHS) to provide sufficient time for mastery of concepts and skills,
develop lifelong learners, and prepare graduations for tertiary education. As I say, under this K to 12
Program is the Senior High School. Senior High School (SHS) covers the last two years of the K to 12
program (Grades 11 and 12). This two additional years will equip learners with skills that will better
prepare them for the future whether it be employment, entrepreneurship, skills development and
higher education (college).(doncarlocavinaschool. com) In SHS, there is academic track and TVL
track. One of the Strand offered under the TVL track is Home Economics. The life of Home Economic
learners is hard because you have to budget your allowance. The average allowance of Home
Economic learners is from 100 to 150, because of this learners need to budget their allowance
wisely. Budgeting is the process of creating a plan to spend your money. It 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. Since budgeting allows you to create a spending plan for your money, it ensures that you will
always have enough money for the things you need and the things that are important to you.
Following a budget or spending plan will also help you out of debt if you are currently in debt
(mymoneycoach. com). This study aims to determine the strategies used by Home Economic
learners of Pavia National High School in budgeting their allowance in a week.

Moneva, Jerald & Marijune, Tuñacao. (2020), The purpose of this study is to determine the
association on the students' level of financial support satisfaction and their daily allowance. The
study used a quantitative approach-descriptive correlation using a self-made questionnaire that was
answered by the senior high school student. The questionnaire mainly indicates the different ranges
of school allowances and factors that influence the students' satisfaction. The weighted mean was
used for computing the mean of the level of financial support satisfaction that students feel towards
their daily allowance. It used the chi-square (x²) showing a significant association between students'
financial support satisfaction and school allowance. Students' financial support satisfaction depends
on the level of their daily allowance. Most of the students have the ranges forty-one to fifty pesos as
their daily allowance. With this, students are satisfied with their daily school allowances. The
students seem to have a peaceful mind in their financial life because of meeting financial obligations
with fewer debts and liabilities. A student who manages well a financial resource leads to lesser
debts and liabilities which tend to increase the level of financial support satisfaction. Furthermore, a
financial support satisfied student is more confident, tolerant and less prone to stress for having
improved individual well-being. In order to enhance budgeting skills and increased level of financial
support satisfaction, this study suggests exploring more on the students who are making debts at an
early age.

Foreign Literature

According to Ishak, Irny Suzila (2020), Budgeting helps the student to organise their
spending and saving. However, previous research reports that university students have
difficulties juggling with the cost and expenses at university. The objective of this project is
to develop a student budgeting system that enables university students to manage their money
more efficiently. For this purpose, the research has used Universiti Selangor students as a
case study. A survey had been conducted with UNISEL students to get their perceptions
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

about the development of the budget system and to get the requirements of the student
budgeting system. Ninety-five respondents had responded to the survey. The survey had
identified functions that should be included in the system. The system had been developed
using Rational Unified Process (RUP) methodology. The system provides information about
the student achievement in reaching their target to spend within budget. The student
budgeting system is expected to help the student to plan their fund, budget effectively and
view their target saving achievement.

According to Aung, Nwe Ni, and Hla Hla Mon (2020), Budgeting habits are
important for every person. By the time students are in universities, at least they are in charge
of their own finances. How well they manage their personal budget may indicate how well
they will manage their company’s budget on the job. This study intends to analyse budgeting
habits of undergraduate students in Yangon University of Economics. The study used
descriptive and analytical methods and conducted a questionnaire survey on a sample of 375
undergraduate students. It was found that the budgeting habits of students are different based
on gender. The study also showed that the significant portions of their budget are used to
spend on shopping, eating out, mobile phone expenditures, attending training for their career
progress, travelling on short trips with their friends and transportation. It can be seen that the
majority of students lack proper budgeting habits. The study suggested that the students
should know how much they can spend and how they can improve their budgeting habits.

According to Gomez, Elvia; Zhou, Joyce; Yu, Jhun (2023), Financial literacy is
critically important because finances are such a complex and important part of adult life.
Lack of effective education is one of the root problems affecting the financial literacy of
future and current college students. Some studies have been conducted to understand the state
of financial literacy among college students. There are some recurring themes present in the
studies. Some conclude that there is a direct relationship between education and
comprehension of finances. Those who have more education have a better understanding of
terminology and thus, make
better financial decisions. Overall, three aspects of financial literacy: the financial stability of
the United States population, education, and hardships of first-generation college students can
be argued to be closely related to financial literacy of first-generation college students. Since
first-generation students face unique challenges in their college lives in general and their
financial lives in particular, we set out to explore the level of financial literacy and the
interest of these students in receiving financial education.

According to a study of Susanto, F. D., & Alimbudiono, R. S. (2018). The

implementation of a budgeting course in personal financial planning among students
majoring in Personal Finance is crucial for their future success. By incorporating a budgeting
course into their curriculum, students will develop essential skills and knowledge needed to
effectively manage their finances. This course will cover topics such as creating a budget,
tracking expenses, setting financial goals, and making informed financial decisions. Students
will also learn about the importance of saving, investing, and planning for unexpected
expenses. Through hands-on exercises and real-life case studies, students will gain practical
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

experience in budgeting and financial planning. Overall, the implementation of a budgeting

course will equip students with the necessary tools to achieve financial well-being and make
informed financial decisions throughout their lives.

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 behaviour 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.

Study results indicated budgeting skills have a positive relationship with accountability.
It was also established that budgeting skills have positive and statistically significant effects
on accountability of public primary schools in Kakamega County. This implies that
strengthening budgeting skills of school accounting officers will enhance their ability to
properly account for school finances resulting in actualization of the school’s strategic goals.
Ochanda, D. J., Musau, S.M., Mbuva, G.K. (2023).

Chapter III

RESEARCH METHODOLOGY

This chapter presents the research methods that will be utilised by researchers. This
includes the research design, subjects of the study, sampling technique, research instrument,
data collection procedure, and data analysis procedure.

Research Design
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

For this study on the relationship between money allowance and budgeting skills of
ABM students in Holy Nazarene Christian School, a quantitative research design will be
utilised. This design will allow for the collection of numerical data to analyse the correlation
between variables.

Subject of the Study

The subjects of this study are the Grade 11 and Grade 12 ABM students of Holy
Nazarene Christian School, in the academic year 2023-2024. The respondents are” seventy-
six” (76) senior high school Accounting, Business, and Management (ABM) students.

Sampling Technique

We utilized total population sampling, also known as a census, to gather data from all
76 ABM students in Holy Nazarene Christian School. This technique involves including the
entire population of interest in the study. Advantages of total population sampling include a
complete representation of the population and accurate generalizations of findings. However,
it can be resource-intensive and time-consuming. To overcome challenges, you implemented
a systematic approach, such as distributing questionnaires during class hours or arranging
individual appointments with each student.

Research Instrument

The primary research instrument for data collection will be in google forms. The
google form will include Likert-scale questions to assess the respondents' opinions, attitudes,
and perceptions regarding their money allowance and budgeting skills. Open-ended questions
will also be included to gather qualitative insights.

Data Collection Procedure

The data collection procedure will involve sharing the Google Forms questionnaire
with the selected ABM students via email or any other suitable online platform. The
participants will be provided with clear instructions on how to access and complete the
questionnaire. They will be given a specified deadline to submit their responses
electronically. The anonymity and confidentiality of the respondents will be ensured
throughout the process.

Data Analysis Procedure

The collected data from Google Forms will be exported to a spreadsheet format for
analysis. Descriptive statistics, such as calculating frequencies and percentages, will be used
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

to summarise the responses. We will use the built-in data analysis features of Google Sheets
or export the data to statistical software for more advanced analysis. Inferential statistics,
such as correlation analysis, can be conducted to examine the relationship between money
allowance and budgeting skills. This analysis will help determine if there is a significant
correlation between these variables among the ABM students.

Chapter IV

PRESENTATION, ANALYSIS AND INTERPRETATION DATA

In order to successfully finish this study, the data must be analysed in order to test
the hypothesis and provide responses to the study's queries. This chapter includes the results'
analysis, presentation, and interpretation. from this research. There are two stages to the
analysis and interpretation of data. The first section, which is predicated on the
questionnaire's answers, addresses a quantitative examination of the data. The second,
derived from the focus group and interview findings conversations, is a qualitative analysis.

Section
This shows the total respondents each section participated in this study, a stratum
using the Pearson-r formula. Table 4.1 shows the section data.
Table 4.1

According to Table 4.1, out of 76 ABM respondents, 24 or 31.6% are from Corinthians. 18 or
23.7% are from Galatians, 22 or 28.9% are from Numbers, and 12 or 15.8% are from Judges.

Table 4.2 Corresponding Point and Weighted Mean

RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Table 4.3

Chapter V

SUMMARY, CONCLUSION, AND RECOMMENDATION

Summary

We will summarize the findings of our research on the relationship between money
allowance and budgeting skills of ABM students in Holy Nazarene Christian School. The
research included 76 respondents, and the data gathered indicated that there is indeed a
relationship between money allowance and budgeting skills.

Conclusion
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Based on the data analysis and findings, it can be concluded that there is a significant
relationship between money allowance and budgeting skills among ABM students in Holy
Nazarene Christian School. The study found that students who receive higher money
allowance tend to have better budgeting skills compared to those with lower money
allowance. This suggests that the amount of money allowance received by students can have
an impact on their ability to effectively manage their finances.

Recommendation

1. Encourage parents and guardians to provide a reasonable and consistent money allowance
to their children. This can help develop their budgeting skills and financial responsibility
from an early age.
2. Incorporate financial literacy education into the curriculum. This will equip students with
the necessary knowledge and skills to effectively manage their money.
3. Conduct workshops or seminars on budgeting and personal finance for both students and
parents. This will provide them with practical strategies and techniques for budgeting and
financial planning.
4. Encourage students to track their expenses and create a budget plan. This will help them
become more aware of their spending habits and make informed financial decisions.

Reference

Contante, E. R.., Toscano, E. M. G.., Domingo, E. R.., Almeniana, E. B.., Rose, M. J. B.., &
Tamon, C.-J. S. (2019) Effects of Budgeting Students’ Allowance to the Academic
Performance of Grade 12 ABM Students In Bestlink College Of The Philippines School Year
2018-2019
https://ojs.aaresearchindex.com/index.php/aasgbcpjmra/article/view/1331

tRosales, B. A.., Cea, M. L.., Astarita’s, L.., Larisma, B. Concepcion, E. and Tamon, C.-J.
(2020) Assessment on Effectiveness of Using 50-30-20 Rule in Improving Budgeting Skills
ofGrade 12 ABM Students
https://ojs.aaresearchindex.com/index.php/aasgbcpjmra/article/view/1266

Condino, R. V., Del Monte, A.., Rodriguez, J. and Tamon, C.-J. (2020)
https://ojs.aaresearchindex.com/index.php/aasgbcpjmra/article/view/1280

Salonga, J.., Cahilig, A.., Endrina, J. C., Bayno, J., Ojales, L. J., Tamon, C.-J. (2020)
Enhancing Financial Literacy of Grade 12 ABM Students by Using Business Finance Lesson
Authors Rhoi Vince Condino
https://ojs.aaresearchindex.com/index.php/aasgbcpjmra/article/view/1274
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

Jerald (2020) Satisfaction with Financial Support and Students' Determination in Learning
https://www.researchgate.net/publication/
343568866_Satisfaction_with_Financial_Support_and_Students'_Determination_in_Learning

Ishak, Irny Suzila (2020) UNIVERSITY STUDENT FINANCIAL MANAGEMENT USING

STUDENT BUDGETING SYSTEM
https://www.researchgate.net/publication/
346784417_UNIVERSITY_STUDENT_FINANCIAL_MANAGEMENT_USING_STUDENT_BUDGETING_SYS
TEM

BUDGETING
Aung, Nwe Ni, and Hla Hla Mon (2020)

HABIT BEHAVIOR OF
UNDERGRADUATE
STUDENTS IN
YANGON UNIVERSITY
OF ECONOMICS
Aung, Nwe Ni, and Hla Hla Mon (2020) BUDGETING HABIT BEHAVIOR OF
UNDERGRADUATE STUDENTS IN YANGON UNIVERSITY OF ECONOMICS
https://www.studocu.com/ph/u/54155585?sid=01706161535

Gomez, Elvia; Zhou, Joyce; Yu, Jhun (2023) An empirical study on how financial literacy
contributes to preparation for retirement
https://www.researchgate.net/publication/
344540097_An_empirical_study_on_how_financial_literacy_contributes_to_preparation_for_retire
ment

Susanto, F. D., & Alimbudiono, R. S. (2018) Budgeting Applicaton For Personal Financial
Planning Among Students Majoring In Accounting
RELATIONSHIP BETWEEN MONEY ALLOWANCE AND BUDGETING SKILLS

https://www.researchgate.net/publication/
333399401_Budgeting_Applicaton_For_Personal_Financial_Planning_Among_Students_Majoring_I
n_Accounting

Ollau et al. (2020) The Level of Spending Habits Among Accountancy, Business, and
Management (ABM) Students of Tacurong National High School (TNHS): Basis For
Program Intervention
https://www.researchgate.net/publication/
372206905_The_Level_of_Spending_Habits_Among_Accountancy_Business_and_Management_AB
M_Students_of_Tacurong_National_High_School_TNHS_Basis_For_Program_Intervention

Ochanda, D. J., Musau, S.M., Mbuva, G.K. (2023) Budgeting Skills and Accountability of
Public Primary Schools in Kakamega County, Kenya
https://ir-library.ku.ac.ke/handle/123456789/25449

Christine Joy B Bermejo Home Economics (2019), STRATEGIES OF HOME ECONOMICS LEARNERS TO
BUDGET THEIR ALLOWANCE
https://scholar.google.com/scholar?
hl=en&as_sdt=0,5&q=allowance+and+budgeting+skills#d=gs_qabs&t=1706088200483&u=%23p
%3D0ieaA8IolHAJ

Moneva, Jerald & Marijune, Tuñacao. (2020), Students' Level of Financial Support Satisfaction
Towards Their Daily Allowance
https://www.researchgate.net/publication/
339148730_Students'_Level_of_Financial_Support_Satisfaction_Towards_Their_Daily_Allowance