RISK MITIGATION MEASURES OF THE STUDENTS OF CONCEPCION HOLY

CROSS COLEGE, INC TO AVOID FINANCIAL BURDEN

FELICIANO, BRYAN M.
NARCISO, ARON C.

UNDERGRADUATE THESIS SUBMITTED TO THE FACULTY OF

THE DEPARTMENT OF BUSINESS AND ACCOUNTANCY
CONCEPCION HOLY CROSS COLLEGE
IN PARTIAL FULLFILLMENT OF
THE REQUIREMENTS
FOR THE DEGREE

BACHELOR OF SCIENCE IN ACCOUNTANCY

DECEMBER 2023

i
 APPROVAL SHEET
The undergraduate thesis hereto attached entitled “RISK MITIGATION
MEASURES OF THE STUDENTS OF CONCEPCION HOLY CROSS COLLEGE,
INC TO AVOID FINANCIAL BURDEN” prepared and submitted by, BRYAN M.
FELICIANO, and ARON C. NARCISO in partial fulfillment of the requirements for the
degree Bachelor of Science in Accountancy, is hereby recommended for approval.

JULIE L. AGUILAR, M.B.M. GEENA B. HIPOLITO, Ph.D.

Member, Advisory and Member, Advisory and
Guidance Committee Guidance Committee

Date Signed Date Signed

PROF. ORLANDO G. GUECO

Adviser and Chair,
Advisory and Guidance Committee

Date Signed

Approval and accepted as partial fulfillment of the requirements for the degree
Bachelor of Science in Accountancy.

GEENA B. HIPOLITO, Ph.D. MARC LENON DEL ROSARIO, CPA

Chair, Department of Agricultural Dean, College of Bachelor of Science in
Business & Economics and Accountancy
Entrepreneurship

Date Signed Date Signed

ii
 ACKNOWLEDGEMENT

First and foremost, the researchers express heartfelt gratitude to the

ALMIGHTY GOD for the boundless love, blessings, wisdom, and strength

bestowed upon them. They are thankful for the opportunities provided and the

capability granted to progress successfully, remaining steadfast and resilient on

their journey.

Deep appreciation is extended to all those who contributed to the

completion of this report. Special thanks go to the authors’ family, particularly to

their father Erwin M. Feliciano and Policarpio D. Narciso, who offered financial

support and encouragement for his studies, and their mother Julie M. Feliciano

and Teresita C. Narciso, a constant source of support and guidance throughout his

maturation. Gratitude is also expressed to his ever-supportive siblings.

Acknowledgment is extended to Mark Lenon Del Rosario, CPA, Dean of

Bachelor of Science in Accountancy, for his care, moral support, encouragement,

motivation, and wisdom that facilitated the completion of the manuscript. The

faculty members of SBAA Department are also recognized for their assistance in

the research.

The researchers’ wishes to express profound gratitude to classmates in BS

Accountancy. BSA - 4A for their crucial role in the academic journey. Special

mention is given to Prof. Orlando G. Gueco, the thesis adviser, for providing time,

care, concern, understanding, unlimited patience, knowledge, and considerable

support in completing the thesis.

iii
 Appreciation of participation of the students who lend their time and effort

to be part of our research study.

MAY GOD BLESS US ALL!

BRYAN M. FELICIANO

Author /Trainee

ARON C. NARCISO

Author /Trainee

CONCEPCION HOLY CROSS COLLEGE INC.

Concepcion, Tarlac

2023

iv
 BIOGRAPHICAL SKETCH

The author, Bryan M. Feliciano was born Concepcion Tarlac, on April 25, 2002. He is

the eldest son of the children of two.

He finished his primary education at Concepcion South Elementary School, and his

secondary education, Junior High and Senior High at Benigno Aquino National High

School, Concepcion, Tarlac. He also completed his On-The-Job training at Isais, Galura,

Mallari Accounting Firm Co. IGM, San Jose, Concepcion, Tarlac.

Furthermore, he obtained his bachelor’s degree in accountancy at Concepcion Holy

Cross College Inc.

Together with, Aron C. Narciso, who was born in Pando, Concepcion Tarlac, He is the

youngest son of Policarpio and Teresita Narciso

He finished his primary education at Coral Cambing Elementary School Concepcion,

Tarlac and his secondary education; Junior High: at Caluluan High School-Annex and

Senior High: at Ecumenical Christian College. He also completed his On-The-Job training

at Isais, Galura, Mallari Accounting Firm Co. IGM, San Jose, Concepcion, Tarlac.

Furthermore, he’s also obtained his bachelor’s degree in Accountancy at

Concepcion Holy Cross College Inc.

v
 DEDICATION
The manuscript is affectionately dedicated to individuals who have been a source of

inspiration throughout the creation of this work:

To the parents for their enduring love, unwavering support, encouragement, and

insightful advice.

To friends and classmates for their assistance and motivation.

To the Almighty God for the strength bestowed upon the researcher.

vi
 ABSTRACT

TITLE : RISK MITIGATION MEASURES OF THE

STUDENTS OF CONCEPCION HOLY
CROSS COLLEGE, INC TO AVOID
FINANCIAL BURDEN.

AUTHOR : BRYAN M. FELICIANO AND ARON C.

NARCISO

ADVISER : PROF. GERALD SARONG

SCHOOL : CONCEPCION HOLY CROSS COLLEGE

INC.

DEGREE : BACHELOR OF SCIENCE IN

ACCOUNTANCY

YEAR COMPLETED : DECEMBER 2023

This study was conducted to determine the risk mitigation measures of the

students at Concepcion Holy Cross College to avoid financial burden with a total

respondent of 102 from different courses and year level of the students of Concepcion

Holy Cross College.

vii
 TABLE OF CONTENTS

Page
TITLE PAGE ……………………………………………………………………. i
APPROVAL SHEET ……………………………………………………………. ii
ACKNOWLEGEMENT ……………………………………………………........ iii
BIOGRAPHICAL SKETCH ………………………………………………... v
DEDICATION …………………………………………………………………... vi
ABSTRACT ……………………………………………………………………... vii
TABLE OF CONTENTS ………………………………………………………... ix
LIST OF TABLES ………………………………………………………………. x
LIST OF FIGURES …………………………………………………………… x

CHAPTER
1. INTRODUCTION …………………………………………………………. 1
Significance of the Study ………………………………………………... 3
Statement of the Problem ………………………………………………... 4
Objectives of the Study ………………………………………………….. 5
Conceptual Framework ……………………………………………………. 7
Definition of Terms ……………………………………………………… 8
2. REVIEW OF RELATED LITERATURE ………………... ……………….. 9
Local Literature…………………………………………………………….. 9
Foreign……………………………………………………………………… 11
3. METHODOLOGY ………………………………………………………. 16
Research Design …………………………………………………………… 16
Scope and Delamination…………….……………………………………… 17
Respondents of the Study ………………………………………………... 17
Sampling Techniques ……………………………………………………. 17
The Questionnaires………………………………………………………….
4. PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA…. 18
Socio-Demographic Profile of the Respondents …………………………... 18
Question 1 ……………………………………………………………... 18

viii
 Question 2…………………………….…………………………………. 19
Question 3………….………………………………………………….... 19
Question 4………………………………….……………………………. 20
Question 5……………………………………………………………...... 20
Question 6 …….………………………………………………………... 21
Transcript on Interview …………………………………………………. 22
5. SUMMARY, CONCLUSION AND RECOMMENDATION ………………. 23
Summary ………………………………………………………………… 23
Conclusion ………………………………………………………………. 24
Recommendation ………………………………………………………… 25
BIBLIOGRAPHY ………………………………………………………………. 26
APPENDICES …………………………………………………………………... 29
CURRICULUM VITAE ………………………………………………………… 32

ix
 LIST OF TABLES

Table No. Page

1.1 Frequency Distribution of Age of the Respondents………………. 18

1.2 Frequency Distribution of Educational Background………………. 19

1.3 Frequency Distribution of Gender ………………………………… 19

1.4 Frequency Distribution of Weekly Allowance……………………. 20

2 Frequency Distribution of Causes of Financial Burden/Financial 20

Stressors of the CHCC Students……………………………………

3 Risk Mitigation Measures of CHCC Students in Avoiding financial 22

Burden………………………………………………………………

LIST OF FIGURES

Figure No. Page

1.1 Paradigm of the study ………………………………………… 7

x
 CHAPTER 1

INTRODUCTION

Financial risk management strategies are a plan of action or policies that are

designed to deal with various forms of financial risk. Strategies are important for any firm

or individual to manage the inherent financial risks that come with operating within the

economy and financial system. Comparable to risk reduction, risk mitigation takes steps to

reduce the negative effects of threats and disasters on business continuity (BC). Threats

that might put a business at risk include cyberattacks, weather events and other causes of

physical or virtual damage. Risk mitigation is one element of risk management, and its

implementation will differ by organization. Risk mitigation is the process of planning for

disasters and having a way to lessen negative impacts. Although the principle of risk

mitigation is to prepare a business for all potential risks, a proper risk mitigation plan will

weigh the impact of each risk and prioritize planning around that impact. Rather than

planning to avoid a risk, mitigation deals with the aftermath of a disaster and the steps that

can be taken before the event occurs to reduce adverse and, potentially, long-term effects.

Ideally, an organization would be prepared for all risks and threats and avoid them entirely.

However, having a risk mitigation plan can help an organization prepare for the worst,

acknowledging that some degree of damage will occur and having systems in place to

confront that. In other words, we refer to the amount that an individual or legal entity must

face to return the principal and interest on the loans. The financial burden, from another

perspective, is the percentage of current income that we must allocate to the payment of

financial expenses, whether of an individual or a company. (CFI Team, 2020)

1
 A concept directly related to the financial burden is the fee imposed by a lender to

use their money. In addition, this fee allows said lender to obtain a certain yield, previously

agreed upon before formalizing said loan. This, for lending your money to outsiders. This

fee is made up of, in addition to the cost of repaying the debt itself, taxes, commissions,

and interest, as well as interest accrued from claims for non-payment. (Jackson &

Reynolds, 2013)

College may be stressful but paying for college can bring its own issues. Financial

burden is one of the primary sources of stress for many college students. As noted by Ross,

et al., (1999), financial issues account for over 70 percent of perceived stress in college

students. In addition to daily cost-of-living expenses increasing credit card debt, a

substantial amount of long-term debt is incurred by students who are required to take loans

to pay for their tuition. Regarding the latter, the amount of debt that is incurred by a college

student is typically a direct function of the socioeconomic status and education level of the

student’s parents (Houle, 2013). This disparity in the availability of resources due to

parental status creates a considerable burden on students who must attempt to balance

academic success with making ends meet (Smith, 2011). Students are also faced with an

additional source of stress resulting from the ambiguity regarding their career opportunities

following graduation and the subsequent ability to pay off their college loans. In order to

pay off these extensive loans, many college students work during college. This additional

role as an employee adds stress to the student as well. (Guo, Wang, Johnson, & Diaz, 2011)

Financial management behavior is critical to purchasing, utilizing, and using

financial resources with a specific goal. University is typically the place where students

2
start to manage their finances. Parents acknowledge the importance of financial knowledge,

but they may not emphasize it to their children (Ajzen, I. 1991).

Similarly, universities also do not specifically provide classes on the subject matter.

Financial management is a skill that students should be exposed to at an early age because

most likely the knowledge that they acquire might stick with them for the rest of their life.

In higher education institutions and current financial needs are highly demanding. As the

economy worsened, the number of students applying for financial assistance has been

increasing. As a result, it is pertinent for students to manage their money wisely. One of

the factors that contribute to high debts and shocking financial distress problems occurs

among Filipino students. Students in higher education are primarily young people who

strive to prepare themselves for challenges outside of campus life. (Schoeni & Ross, 2005).

Significance of the Study

The outcomes of the research were considered beneficial and valuable for the

following individuals, they aided educators and educational institutions in implementing

and enhancing their instructional methodologies.

1. The students, the study addresses the pressing issue of student debt, aiming to

empower students with the knowledge and tools necessary to make informed

financial decisions during their academic journey. By understanding effective

risk mitigation measures, students can actively manage their finances, reducing the

likelihood of accumulating financial burden.

3
2. The Teachers, teachers often play a role as mentors and guides for students.

Understanding debt prevention strategies equips teachers with the knowledge to offer

informed guidance on financial decisions, aiding students in making choices that align

with their educational and financial goals.

3. The Public, the findings of this study can inform policymakers about the

effectiveness of various risk mitigation measures, leading to the development of

targeted policies that benefit both individuals and society at large.

4. The Future Researcher, the study provides a foundational understanding of debt

prevention strategies, creating a baseline for future researchers to delve deeper into

specific aspects or refine methodologies for a more comprehensive analysis.

Statement of the Problem

This study seeks to determine the risk mitigation measures of the Students of

Concepcion Holy Cross College in avoiding financial burden. The purpose of the study

is to answer the following questions:

1. What is the socio-demographic profile of the respondents in terms of:

1.1 Age

1.2 Gender

1.3 Educational Level

1.4 Weekly Allowance

2. What are the causes of Financial Burden/Financial Stressors of the CHCC Students?

2.1. Allowance Expenditure

4
 2.3. Student Debt/Loan

2.4 Tuition and School Fees:

2.5 Textbooks and School Supplies

2.6 Living Expenses

2.7 Emergency Expenses

2.8. School Projects

3. Determine the Risk Mitigation Measures of CHCC Students in Avoiding financial

Burden.

3.1. Saving Money Through Allowances?

3.2. Finding Jobs?

3.3. Financial Budgeting?

4. What is the difference between having proper financial management/mitigation

process and overspending of students of CHCC?

Objective of the Study

This study aims to determine the things that can help the students with their

financial burden, things that are able to minimize their debt and try to help them to

spend their money or use their expenses wisely.

1. Determine the socio-demographic characteristics of the respondents.

1.1 Age

1.2 Gender

1.3 Educational Level

5
 1.4 Weekly Allowance

2. To determine the causes of Financial Burden/Financial Stressors of the CHCC

Students.

2.1. Allowance Expenditure

2.3. Student Debt/Loan

2.4 Tuition and School Fees:

2.5 Textbooks and School Supplies

2.6 Living Expenses

2.7 Emergency Expenses

2.8. School Projects

3. To determine the Risk Mitigation Measures of CHCC Students in Avoiding

financial Burden.

3.1. Saving Money Through Allowances?

3.2. Finding Jobs?

3.3. Financial Budgeting?

4.What are the differences between having proper financial management/mitigation

process and overspending of students of CHCC.

6
Conceptual Framework

INPUT PROCESS OUTPUT

Description of the Survey/Questionnaire Solutions and
respondents:
And Recommendations on
-Socio-Demographic
Interview
Profile how to improve their
-Risk Mitigating
financial situation
Measures
through financial
-Causes of Financial
Burden planning or budgeting.

Feedback

Figure 1: Paradigm of the study

Figure 1 shows the conceptual framework of the study regarding to the risk

mitigation measure of the students of Concepcion Holy Cross College to avoid financial

burden.

Input shows the profile of the respondents in terms of, age, gender, educational

background/year level, and weekly allowance.

Process shows the process on how the study was conducted in determining the risk

mitigation measure of the students of CHCC to avoid financial burden, the data were

gathered through survey or questionnaire and interview.

7
 Output shows the results obtained from the data gathered from the respondents of

the study.

Definition of terms.

The terms below that are used to conduct this study are defined for the understanding

of each reader.

1. Concepcion Holy Cross College Inc. - A college institution where the respondents

are located.

2. Debt - something that is owed or that one is bound to pay to or perform for another.

Financial - pertaining to monetary receipts and expenditures; pertaining to or

relating to money matters; pecuniary. (Loan - the act of lending; a grant of the

temporary use of something. (

3. Mitigation -lessening the force, intensity, or severity of something, as punishment,

danger, pain, anger, etc.)

8
 CHAPTER 2

REVIEW OF RELATED LITERATURE

Foreign Literature

Credit risk causes recession when banks fail due to the risk of customer default, which has

negatively affected the economic development of many countries around the world

(Reinhart and Rogoff, 2008). Credit risk describes the risk of default by a borrower who is

unable to repay the borrowed money. Hedging means protecting a company's investment

by limiting its level of risk, for example by buying insurance. Diversification is the

allocation of financial resources to different investments and has long been understood to

minimize such risk. The solvency ratio measures the bank's capital with which it can cover

external risks. As there is intense competition among banks to attract customers, this has

initiated several innovations in banking services (Aruwa and Musa, 2014).

Regulators also require banks to improve their internal management practices to

ensure transparency and ethical standards so that customers are satisfied with their products

and services. Ambiguities in the conditions of banks make it difficult for customers to

choose financial products that satisfy their needs, while clear conditions allow customers

to be more satisfied with the operations of the bank (Ho and Yusoff, 2009).

Customers expect strong policies from financial institutions that can protect and

defend their interests. Therefore, a poor understanding of effective credit risk and

acceptable risk management strategies by bank managers threatens commercial banking

progress and customer profits. For financial institutions, one critical success factor is to

understand the importance of credit risk and develop sound strategies such as hedging,

diversification and capital ratio management to avoid deficiencies that could lead to

9
operational disaster. The credit risks of banks basically affect the bottom line, because even

some big customers would pay the loan to avoid big problems for the bank. The objective

of the credit risk management (CRM) process is to maximize the cost-adjusted return of a

given bank while maintaining credit risk acceptable to shareholders. Banks must manage

both the credit risk of the entire portfolio and external risks that may arise from

macroeconomic factors in the economy. Banks must also compare the credit risk with other

risks. Another specific case of credit risk concerns the way in which bank transactions are

attempted. Until and unless both parties make their payments on time, the bank loses the

opportunity. Corporate governance can also have a significant impact on the risk

management strategies the bank uses to reduce credit risks. Research shows that banks

need to plan to avoid future problems (Andrews, 1980). Most commercial banks offer

several services that help them reduce or manage risk. For example, a chair has been used

to reduce transaction risks by maintaining specific terms that allow different parties to

exchange goods or services in a flexible date and time (Harrison and Pliska, 1981). The

importance of effective risk management strategies to help banks and other financial

institutions has been emphasized by several researchers and industry professionals over the

years. CRM became an obvious necessity for commercial banks, especially after the global

financial crisis of 2008, where the liquidity crisis was largely caused by subprime

mortgages (Al-Tamimi, 2008).

According to Al-Tamimi (2008), ensuring an effective risk management practice is

not necessarily expensive, but the implementation should be done in a timely manner so

that bank operations run smoothly. The purpose of a financial institution, like any other

important economic component, is to cover incurred costs, increase the return on invested

10
capital and maximize the wealth of its shareholders. To achieve these goals, the financial

system must provide financial institutions, such as banks, with effective risk management

strategies against credit risk (Hakim and Neaime, 2005).

Local Literature

There are several types of credit or loans available at the educational institution for

employees and students, such as salary loans, emergency loans, cheap loans (travel loans),

computer loans, student loans, hospital bills (for children of employees) and students. '

Tuition fees. Focusing on one specific type of recipient plays an important role in the credit

and collection department of the school's finance department. Credit and Collection

Practices (CCMP) and Credit Risk Management (CRM) are a challenge for financial

institutions to maintain stability. and improve its growth and endurance. Most CRM

research focuses on the survival and sustainability of banking institutions, so the researcher

proposed how credit and collection and credit risk are managed in educational institutions

as part of a study on private higher education (HEI). The employees of the educational

institution, especially the teaching staff, need trainings and seminars to be lifelong learners,

competent professionals and to serve both the students and the educational institution.

Sustaining these faculty and staff development needs requires effective results collection

and CRM within the institution as institutions continue to implement results-based

education. In an educational institution, CCMP and CRM are an integral part of the

organization's credit control process. Faculty and staff sometimes need financial assistance

from the school; Thus, they applied for a specific loan for which they are eligible based on

the creditworthiness assessment. Since credit and debt collection are part of the curriculum

11
of the financial management program, the study promotes specialized knowledge and is

good for creating the learning outcomes of the reference course. CCMP and CRM also

offer the opportunity to significantly improve the overall performance of facilities. CCMP

and CRM as components of an accounts receivable management system are important in

any educational institution. Accurate monitoring of student and employee obligations is a

primary focus of credit and collection agency personnel handling student accounts. The

CCMP and CRM play a crucial role in the institution's operations and stakeholder

advocacy, as the needs of staff and students are the institution's priorities. This research

was done not only for the benefit of many. because of the additional information and

knowledge gained from the study. In addition, the researcher's critical thinking is put into

practice as the studies progress. Additional information and data obtained from this study

will also be useful for the School of Economics because this topic is strongly related to the

teaching work of the department. This research should also increase the awareness and

knowledge of students, teachers and staff. from other higher education institutions and

other school employees regarding credit and collection processes and claims. Knowledge

of the subject gives students an advantage as they prepare for their future profession.

Faculty, staff and other staff can also expand their knowledge. Interviewees from selected

schools must also be able to assess their own policies and procedures and anticipate the

impact of their past and current issues. Schools can implement best practices in credit and

collection and customer relationship management to achieve outstanding performance.

This study can provide researchers with awareness of the implementation of credit

management policies. This can help the researcher in his further work and further studies.

Scholars can also use this research as an additional source of information for faculty and

12
students practicing learning and collection management. The study can also be a literature

review for researchers working in the field of credit and collection management. This study

can also serve as a guide for future research and open up new knowledge related to the

topic. The public, especially parents and stakeholders, will also benefit from this study.

Prospective students and job applicants have information about the basic requirements they

must have in order to receive the credit they want from schools. On the other hand,

stakeholders such as parents know how schools, through their policies and procedures,

protect their interests when providing student loans. They understand how important it is

to believe in their children's school to receive a quality education. Education is a continuous

process and lifelong learning. It is simply an investment that will benefit students as they

face the changing business environment in the future. They apply their knowledge in the

business world. Finally, this study is also useful for business students because they

understand the importance of credit to our country. (Maria Delia M. Poot, Ph.D.)

Currently, poor financial literacy awareness is one of the significant problems,

especially among university students. A lack of discipline and financial management leads

to several youth financial problems. Besides, financial expertise and minimum basic

financial skills are required to build financial management behavior or financial literacy

(Tenuto & Schwartzwald, 1992). The student loan crisis has been an important area of

personal, political, and research discussion. Many individuals must make the decision to

attend college with the help of student loans and millions are currently in repayment on

their student loan. However, it can be difficult to understand what factors may play a role

in the decision to take out a student loan and how managing one’s student loan could affect

their personal financial well-being. Student loans have become the primary source for

13
financing a student's college education. Thus, it turns Too many students are having serious

problems with debt in order to finance their needs. This debt can lead to the student’s

dropping out of school in the worst case; however, even when the students stay in school,

they begin their careers saddled with excessive debt (Dale ,2017). Moreover, student loans

may have hidden costs in the form of worse physical and mental health, more medical

problems and diminished use of medical and mental health care. Stress from student loans

can affect students while they are still in college, harming both mental and physical health.

Any type of debt has the potential to affect the wellness of an individual. Most teenagers'

or university students' spending capacity is now motivated by their wants rather than their

financial needs. A lack of financial knowledge impacts financial saving attitudes, it may

cause them to purchase loans Hence, this could negatively impact their financial well-

being. It shows that university students may need more preparation to deal with their

financial situation, and youngsters need to plan their expenses. The study was implemented

to determine the challenges and difficulties of students on their debts. Furthermore, the

researchers will also investigate mitigating risks and coping strategies to avoid the financial

burden of the students. The findings of this study suggest that financial literacy and some

personal characteristics could play an important role in whether someone takes out a

student loan. Additionally, the characteristics of how someone manages their student loan

could affect their financial well-being. These findings of this study can help financial

educators and professionals understand how the student loan decision is made and assist

certain vi individuals who may be more prone to take out a student loan. This study was

conducted in order to educate the students and be able to help them to come up with

financial burdens through a debt prevention strategy. Therefore, a budget is a plan to spend

14
a student's money every month. To start making the first university budget, it can start by

listing fixed costs such as rent, tuition, books, utility bills, and food. People who have

financial literacy can comprehend and utilize different financial abilities, including

individual monetary administration, planning, and contributing. This study also aims to

help students to be able to avoid debt by following the basic rule – spend less than you

earn. Simple money management strategies can help you do this. Work out what money

you have coming in. This might include your wage, salary, any government parenting

payments or other government support, child support and money from investments. Work

out what you spend money on. Try to include every day and unexpected expenses. Use

a budget planner to work out how you’ll pay for expenses and also save for the future. You

can also avoid debt by taking care when you’re choosing and using financial products like

bank accounts, loans, credit cards, payment services and so on. Here are ideas that might

help: Reduce the number of bank accounts and loans you have. This will make your

finances easier to understand and control. Carefully read any terms and conditions before

signing up to financial products and services. They might end up costing more than you

think. Avoid short-term, high-cost loans like payday loans or consumer leases on furniture

and whitegoods. Be careful of ‘Buy now, pay later’ services or store-issued credit cards.

These often have additional fees, which can add up quickly. (Nordin,2022).

15
CHAPTER 3

METHODOLOGY

This chapter discusses the research method related to this study. It presents the

Research Design, Scope and Delimitation, Respondents of the Study, Data Sampling

Techniques, and Instrument for gathering data.

Research Design

This study used hybrid research of both qualitative and quantitative methods,

quantitative Research is the process of collecting and analyzing numerical data. It can be

used to find patterns and averages, make predictions, test casual relationships, and

generalize results to wider populations while qualitative research involves collecting and

analyzing non-numerical data (e.g., text, video, or audio) to understand concepts, opinions,

or experiences. It can be used to gather in-depth insights into a problem or generate new

ideas for research. (Bhandari 2021)

The researcher aimed to determine the Risk Mitigation Measures of the Students of

Concepcion Holy Cross College in Avoiding Financial Burden. That was the reason they

came up with a descriptive research design. The researcher prepared a set of questionnaires

to rate the overall satisfaction of the respondents, the Likert-scale procedure and

conducting an interview was used in this study.

All the data was computed, reviewed, and evaluated. The researchers created a set

of questionnaires to rate the respondents' overall responses.

16
Scope and Delimitation of the Study
The scope of our study was sought to determine the Risk Mitigation Measures of

Concepcion Holy Cross College in Avoiding Financial Burden.

The study is delimited only for the Junior Highschool, Senior Highschool and

College Students of Concepcion Holy Cross College. The main purpose of our study was

to point out the risk measures used by CHCC students in aiding their financial stressors in

studying.

This study also considered the socio-demographic characteristics of the students at

Concepcion Holy Cross College, Inc. such as their Age, Gender, Educational Level, which

may affect their decisions if the teachers' feedback is important.

Respondents of the Study

The respondents of the study were the Junior Highschool, Senior High School, and

College Students of Concepcion Holy Cross College, Located at Brgy. Minane Concepcion

Tarlac. The respondents would answer a questionnaire and interview for the researchers to

determine the data needed.

Sampling Techniques

Random Sampling is a type of probability sampling in which the researcher

randomly selects a subset of participants from a population. Each member of the population

has an equal chance of being selected. Data is then collected from as large a percentage as

possible of this random subset.

17
 The people involved in this study are students at Concepcion Holy Cross college,

Inc (CHCCI) from any course and any year, the researchers will use ask 102 respondents

to determine the Risk Mitigation Measures of the Students of Concepcion Holy Cross

College, Inc.

CHAPTER 4

PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA

This chapter presents the data gathered and their analysis and interpretation in

relation to the research objective. They were gathered from the responses of 102 students

in Concepcion Holy Cross College. The data was presented in narrative and tabular form

with the corresponding interpretations to answer the problem.

Table 1. Profile of the Respondent

Table 1.1. Age

Age Frequency Percentage

15-20 75 74%
21-25 24 24%
26-30 3 3%
Total 102 100

Table 1.1. shows that most of the responses were from ages 15-20 years old.

Followed by 21-25 years old and lastly 26 to 30 years old. It could be gleamed from the

data above that fifteen (15) to twenties (20) years old students at Concepcion Holy Cross

College were experiencing financial burden and happened to be using risk mitigating

measures to avoid this.

18
Table 1.2. Educational Background/ Year Level

Year Level Frequency Percentage

College Level 48 47%

Senior High School 33 32%
Junior High School 21 21%
Total 102 100%
This table shows that most of the responses were from the College Department,

which got 48 responses or a total percentage of 47%, which was 15% higher than the

responses for Senior High School and 26% for Junior High School. This goes to show that

most of the College Students were having problems and facing struggles financially.

Table 1.3. Gender

Gender Frequency Percentage

Female 50 49%
Male 48 47%
Other 4 4%
Total 102 100%

The table above shows the gender of the respondents facing financial stress were in

the Female group with the percentage of 49% or 2 higher with the Male Responses. This

means that female students of CHCC were the most vulnerable in financial stressors and

of having measures in avoiding financial burden.

19
Table 1.4. Weekly School Allowance

Percent
Range of Allowance Frequency
age
1000 or Above 15 15%
500-1000 34 33%
500 and below 53 52%
Total 102 100%
The shown table above is the range of weekly allowance a student was getting on a

weekly basis. This data shows that students who were prone to having financial burden

because of lack of allowance to provide their weekly expenditure. Fifty-Three students

answered that their allowances were below 500 which is way lower than the other range of

allowances.

Table 2. Causes of Financial Burden/Financial Stressors of the CHCC Students

Indicators Weighted Mean Verbal Description

Allowance Expenditure 3.42 Agree
Student Debt/Loan 3.41 Agree
Tuition and School Fees: 3.52 Agree
Textbooks and School Supplies 4.21 Strongly Agree
Living Expenses 3.47 Agree
Emergency Expenses 3.73 Agree
School Projects 3.57 Agree
Grand Mean 3.62 Agree

The causes of financial stressors of the students were clearly presented in Table 2.

The table reveals that the indicators mentioned above cause a financial burden to them with

a grand mean of 3.62 and an agree verbal description. In line with this, the high price of

Textbooks and supplies being sold were quite high that was why it garnered the highest

weighted mean of 4.21 or strongly agree and the other indicators were described as Agree.

20
The result can explain that certain indicators cause financial burdens to the students hence

it was also a reason of getting risk mitigation to avoid financial burden.

Table 3. Risk Mitigation Measures of CHCC Students in Avoiding financial Burden.

Indicators Weighted Mean Verbal Description

Saving Money Through Allowances 3.70 Agree
Finding Jobs 3.70 Agree
Financial Budgeting 2.42 Disagree
Grand Mean 3.27 Nuetral

Table 3 presents the risk mitigation measures used by CHCC Students to avoid

financial burden. Two of three (2 of 3) risk mitigation measures got a mean of 3.70 or

agree, this means that the students often used these two methods to lessen their financial

burden and support their finances. However, this also shows that students of today were

lacking financial management skills. Only 2.42 of the mean in financial budgeting

compared to a middle high number in terms of saving money and finding jobs which

resulted to a Neutral or 3.27 General Mean.

21
Transcription 1. Interview Question

1 Do you have proper financial management, or you overspend?

Student: During my academic studies, I proactively delved into the world of

financial management. I understood the importance of this and dedicated time to educating

myself on sound financial practices and strategies. I believe in the basic principle of

budgeting, which ensures that all expenditures conform to a carefully planned financial

framework. My approach revolves around careful planning and conscientious

consumption. Instead of relying on a specific job, I focused on understanding the value of

money earned and spent. I have improved my ability to distinguish between needs and

wants, which has helped me maintain a balanced financial situation.

Student: Managing my allowances has been a learning curve for me, especially

when it comes to overspending. At first, I struggled to balance my wants and needs and

often found myself going over my budget. However, this experience was central to my

understanding of financial responsibility.

Recognizing the issue, I took proactive steps to address my overspending tendencies. I

began by closely analyzing my spending patterns, identifying areas where I tended to

overspend, and evaluating the underlying reasons behind these habits. This introspection

allowed me to develop strategies to curb impulsive spending.

The difference between having proper financial management/mitigation process and

overspending of students of CHCC.

Based on the interview conducted with the randomly selected students at

Concepcion Holy Cross College, Inc. They were asked who have proper financial

22
management and students who are overspending, the summary of result in its difference

were, the students who have proper financial management are more like to mitigate the risk

on having financial burden because students having financial management are able to plan

their budgeting and on how will they spend their money, while the students who are

overspending, we determined that the students who are overspending are more like to

experience a financial burden not only because they are spending their money/allowances

on how they wish to spend it and they are not planning on how will they spend their money.

Chapter 5

SUMMARY OF FINDINGS, CONCLUSION, AND RECOMMENDATIONS

This chapter presents the summary of the findings of this study and the conclusions

drawn from the results of the responses of the respondents. In addition, this chapter will

also give the implications of this study and recommendations from the researchers.

Summary of Findings

The following are the salient findings of the study:

 The results show that the profile of respondents in risk mitigation measures of

Concepcion Holy Cross College in avoiding financial burden. were mostly female,

and students who belong to the age group of 15 years to 20 years old. Most of the

students who are experiencing financial burdens while studying are college

students.

 Based on the study's findings, it is recommended that students exercise financial

responsibility and learn how to balance their spending. Many students are found to

23
 have high spending habits when it comes to necessities like Textbooks and School

Supplies, Emergency Expenses and School projects. As a result, many are being

compelled to seek out loans or incur debt.

 Based on the findings of the study, the data above concludes that some of the

students have proper financial management, and some do not. The table shows,

having a Neutral verbal adjectival.

 As a result of Causes of Financial Burden/Financial Stressors of the CHCC

Students; The results has weighted mean of 3.62, the rating adjective agree,

showing that the cause of financial burden/stressor to CHCC students are the

following indicators, Risk Mitigation Measures of CHCC Students in Avoiding

financial Burden has a weighted mean of 3.27 having a rating adjective of neutral,

meaning that some of the students are able to mitigate risk in avoiding financial

burden and some are not able to do so.

Conclusion

Based on the findings, the following conclusions were drawn following are the salient
findings of the study:

1. Most of the students have a weekly allowance of 500 below. This data concludes

that the students who have weekly allowance of 500 below are prone to having financial

burden.

2. The Causes of Financial Burden/Financial Stressors of the CHCC Students are

mostly in School Supplies and Textbooks, having the highest rated verbal adjective.

24
 With the data above represents that the Students of Concepcion Holy Cross College are

experiencing financial burden because of the following indicators.

3. The Risk Mitigation Measures of CHCC Students in Avoiding financial Burden, the

data above concludes that some of the students have proper financial management, and

some do not. The table shows, having a Neutral verbal adjectival.

Recommendations

Based on the findings and conclusions, the following are recommended by the researcher

1. Students must know their limits when it comes to spending.

2. Students who have extra time could find extra jobs to generate income and support

their expenditures.

3. Students should set aside the things they don’t really need and just the things they

need to buy and use.

4. Which shows that textbooks and school supplies get the highest ratings, students

may attempt recycling their materials from the previous year or purchasing

textbooks from higher years to receive a discount.

25
 BIBLIOGRAPHY

HLutkevich, B. (2021, October 12). What is risk mitigation? Disaster Recovery.

https://www.techtarget.com/searchdisasterrecovery/definition/risk-mitigation
Introduction

● Managing money and avoiding debt. (2023, March 16). Raising Children Network.

https://raisingchildren.net.au/grown-ups/family-life/managing-money/money-

debt

● Russo, K. (2023, November 3). 15 Ways to Minimize Financial Risks in Business.

Oracle NetSuite. https://www.netsuite.com/portal/resource/articles/financial-

management/minimize-financial-risks.shtml

● 10 Tips for Resolving your Financial Problems. (2022, August 26). National Bank.

https://www.nbc.ca/personal/advice/credit/tips-financial-problems.html

● Admin. (2022, November 28). Financial burden - Define Business Terms. Define

Business Terms. https://www.definebusinessterms.com/financial-burden/

● East Carolina University. (n.d.). The impact of financial burden and employment

on student employment turnover and dropout intentions, NC DOCKS (North

Carolina Digital Online Collection of Knowledge and Scholarship).

https://libres.uncg.edu/ir/listing.aspx?id=20185

REVIEW OF RELATED LITERATURE

Ryu, S., & Fan, L. (2022). The relationship between financial worries and psychological distress among

U.S. adults. Journal of Family and Economic Issues, 44(1), 16–33. https://doi.org/10.1007/s10834-

022-09820-9

Credit and Collecting Management

https://www.atlantis-press.com/article/125941558.pdf

26
(Dale,2017). An analysis of the status of student debt: Implications for helping vulnerable students

manage debt.

https://scholar.google.com/scholar?hl=en&as_sdt=0%2C5&q=financial+management+on

+student+debt&btnG=#d=gs_qabs&t=1694747824284&u=%23p%3DnDffkfMB5uEJ

(Nordin,2022). FACTORS INFLUENCING FINANCIAL MANAGEMENT BEHAVIOUR

AMONG UNIVERSITY STUDENTS.

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om/upload_issue/ijrar_issue_20542857.pdf&ved=2ahUKEwii8YnW5quBAxVRi2MGH

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chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.oecd.org/finance/financial-

education/49878153.pdf

Dictionary.com | Meanings & Definitions of English Words. (2020). In Dictionary.com.

https://www.dictionary.com/browse/debt

Dictionary.com | Meanings & Definitions of English Words. (2020c). In Dictionary.com.

https://www.dictionary.com/browse/financial
Dictionary.com | Meanings & Definitions of English Words. (2020a). In Dictionary.com.
https://www.dictionary.com/browse/loan
Dictionary.com | Meanings & Definitions of English Words. (n.d.). In Dictionary.com.
https://www.dictionary.com/browse/Mitigating
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https://www.dictionary.com/browse/strategy

27
 APPENDICES

Questionnaire

1. What is the socio-demographic profile of the

respondents in terms of?

1.1 Age
1.1 Gender
1.1 Educational Level
2 Range of Allowance
1000 or above
500-1000
500 and below

3. Respondent of the Study

Year Level

College Level
Senior High School
Junior High School
Total

4. Causes of Financial Burden/Financial

Stressors
Indicators
Allowance Expenditure
Student Debt/Loan
Tuition and School Fees:
Textbooks and School Supplies
Living Expenses
Emergency Expenses
School Projects
5. Determine the Risk Mitigation Measures of
CHCC Students in Avoiding financial Burden:

Indicators
Saving Money Through Allowances
Finding Jobs
Financial Budgeting
28
6 Determine the differences between having proper financial
management/mitigation process and overspending of students of CHCC.

29
CURRICULUM VITAE

30
31
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