FINANCIAL PRACTICES AND SPENDING HABITS OF ACCOUNTANCY, BUSINESS,

AND MANAGEMENT (ABM) STUDENTS

Survey Questionnaire
We are the ABM students of DHSBNHS and we are asking for your time and support to be part
of our research study. Your active participation and cooperation in this study are a great help to
us and the ABM students of DHSBNHS. Rest assured that the data gathered will be kept strictly
confidential.
PART I. Directions: Provide answers for a given question. Answer the questions truthfully. Put
check (/) in the space given for some questions that you need to select.
Demographic Profile
Name:(Optional) _____________________________ Sex: ___Male ___Female___
Section: Allowance:
ACCOUNTANCY 50-100
FINANCE 200-500
MANAGEMENT 600-1000

PART II. FINANCIAL PRACTICES

Instruction: Please respond to the statements honestly by indicating the degree to which each
item describes you. There is no right or wrong answer. Check (/) the space provided in each item
that closely corresponds to how you think or feel about each statement using the rating scale
below.
Rating Scale and Description:
5 STRONGLY AGREE (The statement is always true)
4 AGREE (The statement is often true)
3 MODERATELY AGREE (The statement is sometimes true)
2 DISAGREE (The statement is seldom true)
1 STRONGLY DISAGREE (The statement is rarely true)
Parental Influence on Savings 5 4 3 2 1
1. As a student, my parents taught me to keep extra money as a safety net.
2. My parents taught me the importance of money and that it is a limited resource.
3. Growing up, I was taught the importance of saving money for the future.
4. My parents gave me specific advice on how I might save money on my own.
5. Do you agree that parental control on savings is important for teaching children
financial responsibility?

Financial Conscientiousness
1. To help my parents save, I take care with how I spend the money they gave me.
2. It's important for me to repay my parents for the things they buy me by assisting them
whenever I can.
3. I'm careful with the money that my parents gave me.
4. Before buying something, I carefully consider my budget.
5. I always make a budget and stick to it to ensure I am managing my finances responsibly.

Financial Planning
1. I take responsibility for my parents' money.
2. I attempt to save money in case I need it more in the future.
3. I maintain track of my financial obligations.
4. I take great care when making financial decisions.
5. I always make a budget and stick to it to ensure I am managing my finances responsibly.

Debt Attitude
1. I am quite concerned about borrowing while in school.
2. borrowing money to buy food is ok
3. I'm concerned that my debt payments will become unaffordable to pay.
4. I cut back on spending to reduce my debt.
5. I believe that borrowing is a necessary part of achieving my educational goals.
FINANCIAL PRACTICES AND SPENDING HABITS AMONG ABM STUDENTS

A Research Paper
Presented to the Faculty of Dona Hortencia Salas Benedicto
National High School-Senior High School
La Carlota City

In Partial Fulfilment
of the Requirements in Practical Research 2

by:
Alpas, Winchelle
Miaga, Jonas Jr.
Morales, Psalms David R.
Alipongga, Stephan Mae F.
Reovoca, Sheila Mae
Salmorin, Stephanie Q.
Villanueva, Edmer P.
1st Semester, S.Y 2023-2024
 STATEMENT OF THE PROBLEM
The study aimed to determine the level of financial practices and spending habits among ABM
students at Dona Hortencia Salas Benedicto National High School-Senior High School, this has
the following objectives;
1. What is the demographic profile of the respondents in terms of;
A. Sex
B. Section
C. Weekly Allowance
2. What is the level of spending habits in terms of;
A. Parental Impact on Savings;
B. Financial Consciousness;
C. Financial Planning;
D. Debt Attitude;
3. What is the level of student’s financial practices in terms of;
A. Savings;
B. Budgeting;
C. Spending;
4.Is there a significant relationship between student’s level of spending habits taken as a whole
and financial practices taken as a whole?

Hypothesis: There is no significant relationship between student’s level of spending habits and
financial practices.
SCALE DESCRIPTION
4.21-5.00 VERY HIGH
3.41-4.20 HIGH
2.61-3.40 MODERATE
1.81-2.60 LOW
1.00-1.80 VERY LOW
PART.III

SAVINGS 5 4 3 2 1
1. As a student, it is important to have a savings plan for future financial
goals.
2. By saving a portion of your income, even as a student, is a wise financial
behavior.
3. I tend to avoid unnecessary expenses in order to save money.
4. I increase my savings when I receive a salary.
5. I believe in the importance of building an emergency fund for unexpected
situations.

BUDGETING
1. It’s important to track and categorize your expenses regularly for
effective budgeting.
2. Saving a portion of your income, no matter how small, is a wise financial
habit for you.
3. Borrowing money from friends or family should be the first option when
faced with unexpected financial challenges as a student.
4. Budgeting is important for managing your finances.
5. Avoiding unnecessary expense is a key aspect of budgeting.

SPENDING
1. As a student, it’s important to have a budget in place to manage your
spending effectively.
2. Saving money regularly is a challenging but necessary financial habit for
students.
3. It is important to track and budget my expenses.
4. I should prioritize saving money for future expenses or emergencies.
5. I should avoid unnecessary impulse purchases and make informed
financial decisions.
 A. Title

1. Financial practices and spending habits among ABM Students.

2. Financial Literacy Money Management practices of Senior High School students
3. Financial knowledge, Attitudes and practices of Senior High School Students.

CHOOSEN TOPIC
FINANCIAL PRACTICES AND SPENDING HABITS AMONG ABM STUDENTS

BACKGROUND OF THE STUDY

Young people's habits spending habits will affect their financial situation soon. Early adoption of
spending and learn Money Management skill for the future. According to keeping track of one's
money prevent overspending, impulsive purchasing, and paying too much for items. The
students spending habits might have a wide range of effects their lives, including their
relationships with their family and friends. Someone could feel these effects not only in terms of
their financial well-being.It is crucial to give students a solid foundation in financial management
so they can use it both when putting into practice graduating. They can virtually manage their
spending by watching it. You may achieve you financial goals and deciding how much to spend
based on your needs can be possilble with a plan. A taught model of behavior that is widely
applied is spending habits . They can virtually manage their spending by watching it. Spending
behavior us a learned blueprint of conduct that is repeatedly practices. Financial success largely
depends on effective habits.How someone spends their money is greatly influenced by their
family. Family members play a significant role in determining what items to purchase and
employ. The way of life of a person has an impact on their shopping preferences. We frequently
observe and model our parents and other family members spending habits. According to the
social learning theory, People acquire spending habits from their parents and other prominent
people. Each child particular financial experience influence their parents financial management
and the lesson they teach their children. Parents significantly influence the development of
children.Their parents spending habits affect their children's positive and negative spending
habits. Socialization agents, such as family and peer groups , impact people's attitudes towards
money. This study raises awareness of spending habits among Doña Hortencia Salas Benedicto
National High School students studying accountancy, business, management (ABM).
STATEMENT OF THE PROBLEM

The study aimed to determine the level of spending habits among ABM students in Doña
Hortencia Salas Benedicto National High School, this study has the following objectives;
1.What is the level of spending habits in terms of;
1.1 Parental Influence on Savings;
1.2 Financial consciousness;
1.3 Financial planning;
1.4 Debt Attitude;
2.What is the level of student's financial practices in terms of;
2.1 Savings;
2.2 Budgeting;
2.3 Spending;

THEORETICAL
Consumer theory delves into how individuals determine their spending based on their
preferences and available finances, guided by their overall budget and market prices for goods
and services, falling within the realm of microeconomics (Liberto, 2023). The Family Financial
Socialization Theory, as proposed by Gudmunson and Danes (2011), emphasizes the family
environment as a significant setting for financial education, with parents playing a vital role. This
theory has evolved over time, with contributions from researchers like Beutler and Dickson
(2008). Gudmunson and Danes' seminal work has significantly advanced and unified research on
family financial socialization. What parents teach or neglect to teach their children about money
has enduring effects on their financial well-being, both in the present and the future (Gudmunson
and Danes, 2011). Family financial socialization primarily occurs during childhood and
adolescence (from birth to age 17) and plays a pivotal role in shaping the foundation for
economic outcomes, a connection that persists even beyond age 18 (Serido et al., 2015). In the
realm of Social Cognitive Theory (Bandura, 1971), an individual's behavior is strongly
influenced by their observations of others and the interaction between their behavior and
cognitive processes. Socialization, the process through which individuals acquire values and
norms, can significantly vary if they are not exposed to discussions or observations of financial
savings within their family or peer groups (Gutter et al., 2008).
CONCEPTUAL
Students learn to manage their money in various ways early, frequently leading to poor habits.
Financial issues start to affect young adults often. This issue arises because kids lack financial
literacy and are forced to make challenging financial decisions at a young age, particularly at the
beginning of their careers. They ultimately made the wrong choice, which had a terrible impact
on their life. Thus, effective measures for addressing these issues and assisting the young
population in developing financial literacy must be created by legislators. The variety and
ongoing advancements in the financial markets and financial services industry are to blame for
these financial problems (Mandell & Klein, 2019). To achieve economic well-being, people must
be financially educated to recognize and distinguish between various providers, products, and
services (Wagland & Taylor, 2019). Conceptual Framework This study utilized an Input-Output
(IPO) Model, a functional graph designating the input, output, and data processing needed to
transform information into production. It is a standard method employed by researchers in
numerous fields. Further, the study focused on input components. The variable is spending habits
with the following indicators parental influence on savings, financial consciousness, financial
planning, debt attitude, and compulsive Spending. The next component is determining the level
of spending habits among DHSBNHS-SHS. The input data will be collected from grade 11 ABM
students through the administered survey questionnaire; data collected will be undergone a
statistical analysis to interpret results.

HYPOTHESIS
There is no significant relationship between students level of spending habits taken as a whole
and level of financial practices taken as a whole?
Definition of Terms

To establish a clearer understanding of this study, the following terms are defined
operationally:
Spending Habits refer to spending the same way with the same conditions. It
also refers to who has complete control to make thoughtful decisions
Parental Influence on Savings refers to the savings habits that children's
parent's implant in them from a young age so that they can create and develop healthy
saving habits from a young age to adulthood. It will be simpler for people to handle their
finances effectively when saving habits are established and developed.
Financial Consciousness refers to a person's awareness of their power to
influence their financial outcomes, as well as their willingness to take action and level of
financial intelligence.
Financial Planning is a long-term strategy for effectively handling your money to
fulfill your objectives and aspirations while overcoming the financial obstacles that
invariably appear at every stage of life. Goals must be set to construct a solid financial
plan.
Debt Attitude refers to the ability to handle one's finances or financial literacy. It
also describes a person's approach to and strategies for managing debt.
Review of Related Literature
This section synthesizes the authors' viewpoints, principles, concepts, and ideas
on spending habits among accountancy, business, and management (ABM) students at
Dona Hortensia Salas Benedicto National High School Senior High School(DHSBNHS).
Additionally, it presents the collection of data
and material that has been published that is pertinent to this investigation and
concentrates on presenting related research that offers the background and details
required for this study.

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

because of the swift evolution of the fiercely competitive global corporate environment.
As a result, decision-making has grown more difficult (Stym, 2020). Because of their
exposure to marketing initiatives, internet service providers, and electronic buying
options, students are affected by this problem (Stym, 2020). A pattern of behavior
known as terrible spending habits involves an inability to control ongoing expenses. The
social learning hypothesis postulates people learn spending habits from their parents and other
influential people (Luelle, 2018). According to Ollau et al. (2020), a young
adult's purchasing habits significantly impact how long their financial resources will last.
Instead of investing in long-term financial plans, young people spend their money
quickly on consumables (Decena & Abellanosa, 2022). Institutions should promote and
encourage increased student financial literacy. In contrast to indulgences like food,
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clothing, and other items, financially wise, students frequently devote more of their
budget to durable goods like housing, education, and investments (Frun et al., 2019).
Parental influence on saving, where youngsters typically have their first
opportunities to learn about money. Young people unconsciously gain financial
attitudes, behaviors, and financial literacy skills through interactions with family
members and observing and mimicking adult conduct (Anes, 2020). Parental support
has been a predictor of higher overall savings among young adults (Nyhus, 2018), and
intentional parental guidance is essential for developing young people's financial literacy
(Jorensen, 2018). Parents are the primary source of information for young people when
they seek financial knowledge (Marisan et al., 2019).
In reality, it's widely accepted that parental influence on a child's financial
aptitude declines with age and ends when the child enters the workforce in its entirety.
Because of this, the bulk of studies that examined the development of emerging adults'
financial capacities focused on their experiences when they started their careers,
pursued more education, or reached financial independence (Mayen et al., 2019;
Shermin et al., 2020). 2019 (Lee and Mortimer). Parents and other family members are still the
most trustworthy sources of financial guidance for young adults between the
ages of 18 and 24. However, after that, the relevance of parents virtually vanishes from
the research literature, according to Curran et al. (2018).
Although it is known that parental saving behavior has a lasting impact (Knowles
& Postlewaite, 2018; Ward, 2019), parents need more to teach their adult children about
saving for retirement beyond the residual attitudinal effect. Rarely is the level of parental
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involvement in adult children's daily retirement savings decisions highlighted in the
literature on savings and financial literacy.
Financial consciousness is assumed to require the ability to decide, which
develops in early life when children understand social norms (Narchelti et al., 2019). As
young adults leave their parents' homes and gain financial independence, non-parental
influences become more crucial. Young people frequently assert that they feel self-
conscious about their financial literacy (Acosta, Fulgencio, & Decena III, 2019), and they
claim that other individuals influence their spending patterns, particularly their justifications for
impulse purchases (Neill, 2018).
Financial planning and personal finance are topics of growing student interest
and concern for many adults. Planning in this manner considers a person's current
situation and their goals to gradually develop and expand their capacity to handle their
financial demands concerning credit and cash management, tax planning, insurance,
risk management, investment, retirement, and estate planning. (Ghife, 2018). Based on
Ong (2021), personal financial planning is necessary if a person wishes to increase their
living level, lower their chance of bankruptcy, make prudent investments, and accumulate
enough wealth. According to Sham (2018), financial planning is organizing
a person's financial and personal information to create a strategic plan to positively
manage income, assets, and liabilities to achieve short- and long-term goals and
objectives. Understanding financial difficulties and the financial management process is
necessary for effective personal financial planning (Voen et al., 2018).
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Debt attitude, The dominance of possession and acquisition in consumers' lives,
as well as the utilization of material things to achieve key life goals are all examples of
materialism, according to Cwynar (2020). In light of this, materialists are characterized
as shoppers always looking for their subsequent pointless acquisition (Cwynar, 2020).
Many studies have examined the link between materialism and debt. According to
Jamilakhon (2020), more materialistic People tend to regard debt and spending
favorably than less materialistic people. A recent study by Singh (2020) found that
student's ability to manage their money harms how much obligation they have, with
better managers having less debt. Students borrow money because they think their
current financial condition is just transitory and that paying it back once they graduate and find
employment will be simple, as Haydee's (2019) reasoning. It also asserted that
when students accumulate more debt, their attitudes toward debt strengthen, and they
accept it.
Many people engage in Compulsive Spending, an excessive form of consumer
purchasing, and as a result, are typically profoundly in debt (Ridgway, 2018). Because
compulsive buying activity and obsessive-compulsive behavior share many traits and symptoms,
including a lack of impulse control, some authors (Kinney, 2018) examine
impulse buying in terms of what might be better defined as compulsive buying behavior.