PRACTICAL RESEARCH 2 CHAP 1 Appendices PR2

Republic of the Philippines
Department of Education
Division of Sorsogon
BULAN NATIONAL HIGH SCHOOL
Bulan
FINANCIAL MANAGEMENT PRACTICES OF ABM 12 BOARDING STUDENTS

IN BULAN NATIONAL HIGH SCHOOL
ABM 12- A
JANINE F. MADRONA
ASHLEI THENEA G. GUNAO
ALECK G. ESCAROS
JERICHO M. MANRIQUE
ANGEL DESIREE G. CABALES
KRISTINE L. DELLOSON
EIZZEL MAE M. GOJIT
DONNALYN MAE C. NARES
JOHN DENVER B. MEDALLA

Research Adviser
Chapter I
INTRODUCTION
This chapter presented the problem and context through
the Background of the study, Statement of the problem, Scope
and Delimitation, Significance of the study, and Definition
of the terms.
Background of the Study
Financial Management is a critical life skill that
equips individuals with the knowledge and abilities to make
informed financial decisions, manage their finances
effectively, and plan for their future financial well-being.
In today’s complex and financially driven world, possessing
financial management is of paramount importance. Amongst
various demographic groups, high school students, especially
those enrolled in Accountancy, Business, and Management
(ABM) strand, represent a significant segment of the
population that is at a crucial stage of their financial
development. Understanding their level of financial
management is essential for their future success and the
prosperity of the economy.

According to Allen and Brealey (2015), Financial
Management is the strategic planning and monitoring of
financial resources to achieve organizational goals. In the
context of ABM students at Bulan National High School,
understanding financial management practices is crucial as
these skills are foundational for future financial well
being (Smith, 2018). This study seeks to explore how
students apply financial management principles in their
daily lives.
Behavioral economics, as explained by Thaler and
Sunstein (2008), focuses on how individuals make financial
decisions. Applying this theory, our study aims to
investigate the behavioral factors that influence ABM
students’ financial choices and whether they align with
rational financial management practices (Johnson, 2017).
The Social Learning Theory posits that individuals
acquire financial knowledge and behaviors through
observation and interaction (Bandura, 1997). In the context
of this study, we will examine whether students’ financial
management practices are influenced by observing their peers
of family members managing finances (Gupta, 2016).

Drawing from the Economic Theory of Information
(Stigler, 1961), our study will explore how ABM students
access and utilize financial information. This theory
suggests that students’ ability to access reliable financial
information is critical for effective financial management
practices (Brown, 2019)
The Theory of Planned Behavior (Ajzen, 1991) posits
that individuals’ intentions and attitudes significantly
influence their behavior. Our research will investigate
whether ABM students’ intentions and attitude towards
financial management correlate with their actual financial
practices (Smith, 2015).
According to Agency Theory (Jensen & Meckling, 1976),
individual may delegate financial decision-making to others.
In context of ABM students, this theory prompts us to
investigate whether students delegate financial decisions to
their parents or guardians (Hatman, 2020).
The Resources-Based View of the Firm (Barney, 1991)
emphasizes the importance of resources for achieving a
competitive advantages. In the context of students’
financial management practices, we will examine whether

their resource allocation decisions align with this theory
(Chen, 2018).
The Rational Choice Theory (Becker, 1976) suggests that
individuals make rational decisions to maximize utility. Our
study will explore whether ABM students’ financial decisions
align with this rational choice framework (Williams, 2016).
According to the Life-Course Perspective (Elder, 1998),
life events and transitions can impact financial management
practices. We will investigate how major life events, such
as transitioning to college, affect students’ financial
behaviors (Davis, 2017).
The Theory of Consumer Behavior (Marshall, 1890)
focuses on individual preferences and choices. In context of
our study, we will examine ABM students’ preferences in
financial decisions (Jones, 2020). Some students struggled
with budgeting, while others had difficulty managing their
allowances effectively. This observation raised concerns
about the lack of financial literacy among these students
and the potential long-term implications for their financial
well being.
According to Atlantis Press (2018), students residing
in coastal areas face unique challenges and opportunities
due to their proximity to the coastlines. These challenges
include potential risks associated with coastal hazards such
as flooding and storm surges, which can disrupt education
and daily life.
According to Universitas Teuku Umar (2023), Lack of
Knowledge about financial management and lack of awareness
of the need to delay consumption (investment) make
Indonesian People have financial behaviors that are not
ideal. The tendency toward a consumptive lifestyle of the
Indonesian people demands a fairly high income. Because it
is believed that attitude is important than knowledge in
affecting someone’s behavior. Lastly, when there is a high
level of financial literacy, financial experience will have
a greater impact on the management funds.
Additionally, discussions with fellow educators and
parents revealed a growing interest in their financial
preparedness of students as they transitioned into
adulthood. With the increasing complexity of financial
decisions in today’s world, it became evident that a
comprehensive understanding of financial management

practices was essential for the students’ future success.
These observation and conversations led to the formulation
of the research problem, aiming to explore the current
financial management practices among ABM 12 Boarding
students and identify areas where educational interventions
might be necessary to improve their financial literacy and
preparedness for the future.
By conducting this study, we hope to gain valuable
insight into the financial behaviors and needs of ABM 12
Boarding students and contribute to enhancing their
financial education and decision-making skills.
Statement of the Problem

General Objectives:
The purpose of this research was to examine the
Financial Management Practices of ABM 12 Boarding Students
how these practices are affected by their demographic
characteristics, including gender, source of income, weekly
allowance, and living arrangement. The study could also aim
to identify the role of financial literacy in shaping the
financial management practices of these students.
1. What is the demographic profile of the students in terms
of:
a. Gender
b. Source of Income
c. Weekly Allowance
d. Living Arrangement
2. What are the daily average expenses of a ABM 12 students
in terms of:
a. Food
b. Transportation
c. School Expenses
d. Rent Expenses
3. What are the financial management practices of a ABM 12
students in terms of:

a. Budgeting
b. Saving
c. Debt Management
Scope and Delimitation
This research study primarily focuses on assessing the
financial management practices of ABM 12 Boarding students
enrolled in the Accountancy, Business, and Management (ABM)
strand.
Excluded in this study are the other students from
other senior high school strands. It is also geographically
limited to Bulan National High School and does not encompass
students from other educational institutions or regions.
Significance of the study
The beneficiaries of this study include;

Students. ABM (Accountancy, Business, and Management)
students at Bulan National High School can gain valuable
insights into effective financial management practices,
helping them make informed decisions about their own
finances.
Teachers and Educators. Teachers can use the study
findings to enhance their financial education curriculum.
They can tailor lessons and activities to address specific
areas where students may need more guidance.
Parents and Guardians. Parents and guardians can
benefit from understanding the financial habits and
challenges their children may face. This knowledge can lead
to more informed discussions about financial responsibility
and planning.
Future Researchers. Future researchers planning their
own research studies may find value in the study’s findings.
Additionally, it will provide them with fresh information
and insightful knowledge of efficient financial management
techniques.
Definition of Terms:
Boarders. According to Merriam Webster (2023), are
individuals who rent a room or apartment within another
person's residence. For the purpose of this investigation,
the term 'boarders' is specifically applied to students
residing at a considerable distance from their educational
institution. These students actively seek accommodation in
close proximity to their school, securing rooms or
apartments for which they pay monthly rent. This distinction
helps establish a focused understanding within the context
of the study, emphasizing the unique living arrangements of
students who choose to reside near their academic
institutions for convenience and accessibility.
ABM Students. According university of San Jose-
Recoletos (2021) This strand is designed as an introductory
course in accounting and business and management where ABM
students are trained to think logically and scientifically
and are acquainted with the rudiments of accounting and
business and management concepts and principles in order to
prepare them to pursue college degrees that focus on
business and industry where their contribution as future
accountants, entrepreneurs, and business leader are vital to

the progress and development of the economy and critical to
the promotion of a sustainable green business. The study
aims to explore and analyze the financial management
practices of this particular subgroup, shedding light on how
these ABM 12 boarding students navigate budgeting, saving,
and debt management in their unique living situations.
Financial Management. According to Joseph & Massie,
Financial Management is the operational activity of a
business that is responsible for obtaining and effectively
utilizing the funds necessary for efficient operations
“financial management is the application of the general
management principles in the areas of financial decision-
making, namely in the areas or investment of funds,
financing various activities, disposal of profits. The study
aims to explore and analyze how these students navigate and
make decisions regarding their financial resources, focusing
on the specific financial challenges and practices related
to their status as boarders.
Budgeting. According to Katia Lervasi (January 5,
2023), A budget is spending plan based on income and
expenses. In other words, it’s an estimate of how much money
you’ll make and spend over a certain period of time, such as

a month or year (or if you’re accounting for the incoming
and outgoing money of everyone in your household, that’s a
family budget. The term "budgeting" in this study likely
encompasses a comprehensive analysis of the students'
financial decision-making processes, aiming to gain insights
into their budgetary habits and strategies for effective
financial management.
Savings. According to Banco Central De La Republica
Argentina (2006), Saving is the portion of income not spent
on current expenditures. In other words, It’s the money set
aside for future use and not spent immediately. The study
may investigate how these students allocate and manage their
financial resources with a focus on saving, examining
factors such as savings goals, methods of saving, and the
frequency of saving practices. The term "Saving" is integral
to understanding the specific financial behaviors and habits
related to setting aside funds among the target group of ABM
12 boarding students at Bulan National High School.
Source of Income. Refers to a brief summary of one’s
current financial situation, indicating whether they are
receiving assistance,grants,or aid,or if they are self-
sustaining. According to one influential author in this
field,Jonathan Gruber(2005).Gruber’s work on public finance

and health economics, particularly in his book “Public
Finance and Public Policy”, has contributed to the
understanding of how government policies,taxation,and social
programs impact individuals’ financial support status. He
explores concepts such as income redistribution, social
safety nets,and the effects of taxation on different income
groups,shedding light on the complex interplay of financial
support systems in modern societies. However, it’s important
to note that financial support status is a multifaceted
topic with contributions from various scholars in
economics,sociology,and related fields. By examining the
sources of income, the study seeks to provide insights into
the financial dynamics of ABM 12 boarding students, shedding
light on the patterns and sources that contribute to their
financial well-being.
Living Arrangements. Refers to the structure and
composition of one’s household members and their
relationship to each another. Living arrangements include
both single-person household (i.e., living alone) and multi-
person households, including those comprised of persons with
familial ties(e.g., living with a spouse or adult children)
or those without familial ties(e.g.,living with a partner or
others related or unrelated).Living arrangements have also

been examined in terms of inter-generational co-residence
among older adults and their adult children-households that
are often shaped by one’s individual needs, family
structure,and cultural contexts (Isengard and Szydlik,
2012). The study investigates the financial aspects related
to these living arrangements, shedding light on how students
manage expenses such as rent, budgeting, saving, and debt
management within the context of their chosen living
conditions. The term serves as a key variable in analyzing
the broader financial behaviors and challenges faced by
boarding students in the specific educational setting of
Bulan National High School.
Debt Management. A way to get your debt under control
through financial planning and budgeting. According to true
Tamplin (2023). It involves assessing one’s debt situation,
creating a plan to repay debts, and implementing strategies
to prevent future debt-related problems. Debt managements is
crucial for individuals who have taken loans, credit card
debt, or other forms of debt, as well as for business that
rely on borrowing to finance their operations. This aspect
of financial management may encompass how these students
handle loans, credit card usage, repayment plans, or any
other financial instruments related to debt. The study might

explore how these students navigate and manage their debts
within the context of their broader financial practices and
constraints.
Input Process Output
Demographic profile of the Analysis of data through:  Stronger financial

students: a. Survey questionnaires management skills and
a. Gender b. Mean, Median, Mode resilience of ABM 12
b. Financial support status Students.
c. Financial income range  Higher knowledge in
d, Living arrangement financial management
practices.
Financial practices of ABM 12
students residing in coastal areas
Figure 1: Conceptual Framework
Chapter II
This chapter discussed the studies and literature that
are thought to be extremely relevant to the study. This
demonstrates the theoretical framework, conceptual

framework, and gap of the study. It also displays the
synthesis of art.
Review of Related Literature
Financial management practice is referred to the
individuals’ behavior and perception on how well they manage
their finances. The factors that influence young
people in their financial management practice are age,
personality traits and knowledge (Norvilitis, Merwin,
Osberg, Roehling, Young and Kamas, 2006). Students are
important group that needs to be highlighted because they
have less finance management practices (Komal, Garima, Manju
and Sudesh, 2017). Mien and Thao (2015) suggested that the
most common financial management practice is to set.
The individuals who have poor financial management may
lead to wrong financial decisions (Vyvyan, Blue, and
Brimble, 2014). Borden Lee, Serido, and Collins (2008),
suggested that young people need to have financial
management skill because it is useful for their future and
personal well - being.

According to Van Deventer and De Klerk (2016) the
ability to manage financial resources can be influenced by
three important factors; financial control, making ends meet
and approaches to financial management which include
budgeting, keeping records, knowledge of daily living costs
and the ability to meet the financial obligations as they
fall due.
In a study titled "Financial Knowledge of University
Students in Korea and Germany," Roland Happ et al. (2018)
compares the financial literacy of university students in
Korea (N = 1006) and Germany (N = 1346). The US-American
Test of Financial Literacy country-specific adaptations were
used to evaluate financial literacy. The three categories of
financial knowledge are everyday money management, banking,
and insurance. Students from Germany exhibit slightly
greater knowledge of insurance and standard financial
management. Korean students typically excel in the field of
banking. The paper looks at how gender affects financial
literacy and the function of financial information
gathering. In Germany, a gender difference is determined,
but not in Korea. In Germany, male students perform better
than female students. An analysis of variance shows that
Korean as well as German students who inform themselves more

frequently about financial topics achieve a higher financial
knowledge score. The article shows that it is possible to
validly measure financial knowledge in Germany and Korea,
which have different economic systems.
The International Journal of Instruction (2020) states
that the goal of their study, "Effectiveness of
Environmentally-Based Science Learning towards
Environmentally-Friendly Character of Students in Coastal
Area," is to evaluate how well students in coastal areas can
become more environmentally conscious. This study used an
experimental pre- and post-testing design with one group. 83
elementary school students from the coastal region made up
the sample for this study. Cluster random sampling was used
to gather the samples. The test was given to gather
information on student characters. The results were
significant (p 0.05), indicating that students in coastal
areas are becoming significantly more environmentally
conscious. The research concluded that environmentally based
science learning is effective in increasing the
environmentally friendly character of the students. The
result was expected to contribute to the development of the
environmentally friendly character of students by their
teachers.
Review of Related Studies
According to Chua and Lim (2018), students' financial
management skills play a crucial role in their overall
financial well-being. Their study conducted among senior
high school students found that those with prior exposure to
financial education exhibited better financial management
practices. This finding suggests that incorporating
financial literacy programs within the ABM strand can
significantly impact students' ability to handle their
finances effectively. It underscores the importance of
integrating practical financial skills into the curriculum
to prepare ABM students for real-world financial challenges
According to the study by Rodriguez et al. (2019), peer
influence can significantly affect financial behaviors among
high school students. Their research demonstrated that
students' financial management practices were often
influenced by their peers' spending and saving habits.
Understanding this peer effect is crucial in the context of
ABM students, as they may share similar financial goals and
challenges. This research emphasizes the need to consider

social dynamics when designing financial education programs
for ABM students to promote positive financial behaviors.
According to National Endowment for Financial Education
Mandates (2008), their study conducted among Financial
Management Practices of College Students from States with
Varying Financial Education Mandates. Overall, this study
shows that financial behaviors of college students vary by
state policy on financial education, even when controlling
for demographics, financial resources, financial education,
financial knowledge, financial social learning opportunities
and financial dispositions. The result shows that both
social learning and formal education are important
determinants of financial behaviors including savings. In a
structural equation model, several important relationships
were shown including a significant relationship of financial
education on financial knowledge. In addition, college
students will be engaged in various financial transactions
out of necessity.
According to Sadalia et al (2017) Financial Behavior
and Performance on Small and Medium Enterprises in the
Coastal Area of Medan City. This research was conducted to
search the financial performance of local small and medium

enterprises (SMEs) of coastal area of Belawan in Medan
city.The result showed that simultaneously habits, field,
capital and gender have a significant effect on financial
performance. While partially, habits have a significantly
positive effect on financial performance. Field has no
significant effect on the financial performance. Capital has
no significant effect on financial performance and dummy
variables explain that men have smaller financial
performance than women do. The implication of the research
explains that the owner of SMEs can manage their financial
behavior which consists of habits, field and capital.
The study determined the Awareness and Practices on
Coastal Resource Management of Public High School Teachers
in the Province of Ilocos Norte, Philippines, according to
Allan Vivad Alipio (2019). The study's findings demonstrated
that the respondents were very knowledgeable about coastal
resource management, particularly in relation to the
destruction of coastal habitats, overfishing, and
unrestricted access to fisheries resources, coastal law
enforcement, and resource use that results in conflict and
pollution. The level of awareness on coastal resource
management was significantly correlated with age, sex, civil

status, educational attainment, and religious affiliation,
but not with teacher rank or information sources.
Gap of the study
Previous research has extensively explored various
aspects of financial management, including financial
behavior, influence, and decision-making. However, there is
notable gap in quantitative research concerning the specific
financial practices of ABM 12 Boarding Students. While prior
studies have investigated financial behaviors and practices
in a broader context, none have focused on the detailed
spending patterns, expenditure categories, and distinct
financial management strategies employed by ABM 12 Boarder
Students. This study aims to bridge this research gap by
systematically examining how ABM 11 Boarder Students in
Bulan National High School allocate and manage their
financial resources across different categories and
circumstances.
Chapter III
METHODOLOGY
This chapter presented the research methodologies
used to gather the study’s data. It covers the target
respondents, study population, sample and sampling
method, data collection, and data analysis procedure.
Research Design
To investigate and describe the financial management
practices of ABM 12 Boarding Students in Bulan National
High School, the researchers employed a descriptive
research design for this study. Descriptive research,
according to Creswell (1994), is a type of research
design that tries to explain the relationship between two
or more variables without making any claims about cause
and effect. It includes collecting analyzing data on at
least two variables to see if there is a link between
them.
Sample
The sample in this study was derived from the total
population of grade 12 students in Bulan National High
School whose taking Accountancy Business and Management
strand.
In this study, purposive sampling was used to choose the
respondents. For the research respondents, the
researchers intended to select ABM 12 Boarding students.
Purposive sampling is a method by which researchers
choose individuals or group as samples based on their
objective and viewpoints (Kothari,2004).
Research Instrument
In order to gather detailed information about the
financial management practices of ABM 12 Boarding
Students in Bulan National High School, the researchers
used a structured survey questionnaire. This survey will
include a variety of thoughtfully crafted questions that
will enable a detailed examination of their financial
habits. These questions will cover topics like budgeting,
saving practices, spending patterns, and financial goals.
Data Collection Procedure
Before starting this study, the researchers will ask
the teacher of their subject for permission to gather
data off the school grounds. The researchers used a
structured survey questionnaire to collect thorough data
regarding the financial management practices of ABM 12
Boarding Students in Bulan National High School.

Additionally, The ethics of the study, such as
confidentiality and anonymity of the participants and the
protection of the data collected, are also discussed by
the researchers. Prior to the start of the interview, the
researchers let the participants choose a convenient
place for them. The researchers then set the
participant’s atmosphere to answer the questions freely
and comfortably.
Data Analysis Procedure
The researchers used descriptive statistics as a
fundamental tool for data analysis, in order to
thoroughly examine and present a complete portrayal of
the financial management practices of ABM 12 Boarding
Students in Bulan National High School. Through the use
of statistics, it will be possible to better understand
how these students make financial decisions and how to
manage their money.

Chapter IV
PRESENTATION, INTERPRETATION, AND ANALYSIS
This chapter presented the data gathered, the
results of the statistical analysis done and
interpretation of findings. These are presented in tables
following the sequence of the specific research problem
regarding the Financial Management Practices of ABM 12
Boarding Students in Bulan National High School.
SOP 1. Demographic Profile of ABM 12 Boarder Students
Table 1 :Gender
% of
Gender Counts
Total
Male 5 33.3 %
Female 10 66.7 %
Interpretation
Figure 1. shows the Frequency of every respondents
Demographic Profile. Out of 15 respondents there are 10
(66.7%) were Female and 5 (33.3%) were Male.
Analysis
Out of 15 respondents 10 (66.7%) of them were
Female, and 5 (33.3%) of the respondents were Male.
Table 1.2 :Financial Support Status
Financial Support Status Counts % of Total
Allowance from parents 15 100.0 %

Interpretation
Majority of the 15(100%) shows in Figure 1.2
therespondents response that they rely their Financial
Support Status are from their parent.
Analysis
Based on the Table shows above 15(100%) of the
respondents rely their Financial Support Status were from
their parents, since they don't apply or enter a part-
time job.
Table 1.3: Weekly Allowance
Weekly Allowance Counts % of Total
200-500 6 40.0 %
500-1000 9 60.0 %
Interpretation
In Figure 1.3 also shows the Weekly Allowances of
respondents, 6(40%) of the respondents received 200-500
pesos on their Weekly Allowances, and the rest of the
9(60%) respondents received 500-1000 on their Weekly
Allowances.
Analysis
Every students received their Weekly Allowances,
6(40%) of the respondents received their Weekly
Allowances around 200-500 pesos they, and 9(60%)
respondents received 500-1000 from their parents as their
Weekly Allowances.
Table 1.4 Living Arrangement
% of
Living Arrangement Counts
Total
Staying in boarding house

6 40.0 %
alone
Staying in boarding house with

9 60.0 %
relatives
Interpretation
Lastly on each of respondents' Demographic Profile
in terms of their Living Arrangement shows in Figure
1.4the 6(40%) of them lived or stay at boarding house
alone, 6(40%) also shows that they lived or stay at

boarding house with their relatives, the rest of them
3(20%) of the respondents lived or stay at boarding house
with their roommates.
Analysis
On their last list of Demographic Profile that shows
their Living Arrangement are 6(40%) of the respondents
lived or stay at boarding house with their relatives,
they maybe stay with their relatives boarding house in
order them to save a money and they maybe close to their
relatives. 6(40%) of the respondents shows that they
lived or stay at boarding house with their alone, they
maybe wanted to lived independently and they're maybe
living alone because he/she’s family aren't with them.
The rest of them 3(20%) of the respondents lived or stay
at boarding house with their roommates, the respondents
maybe wanted them to accompany them in one roof.
SOP 2. Daily Average Expenses
Table 2.1: Food
Food Counts % of Total Cumulative %
0-50 3 20.0 % 20.0 %
100-200 4 26.7 % 46.7 %
50-100 7 46.7 % 93.3 %
200-500 1 6.7 % 100.0 %

Table 2.1: Food
Food Counts % of Total Cumulative %
Interpretation
Based on the results 3 of the participants or the
20% of spends their money for food which range of 0-50
pesos. The 4 other participants or the 26.7% spends 100-
200 pesos for food. The 7 participants or the 46.7%
spends 50-100 for food. While the 1 respondents or the
6.7% spends his/her food for 200- 300 pesos.
Analysis
Based on the data given 20% of respondents falling
within this category indicate a segment that is mindful
of minimizing food expenses. The 20% participant in may
prioritize budget friendly food options. The 46.7
allocate a moderate budget for food, this represents the
largest segment,the respondents are more likely to strike
a balance between affordability and the desire for
diverse and nutrition food options. The 26.7% of
respondents are willing to allocate a relatively higher
budget for foods this respondents are more likely to
spend their budget for premium foods and special foods.
The 6.7% are more willing to spend their budget for a
highly value foods which represents a highly amount of
income given by their parents.

Table 2.2: Transportation
% of
Transportation Counts Cumulative %
Total
0 5 33.3 % 33.3 %
1-50 10 66.7 % 100.0 %
Interpretation
Based on the results the 5 respondents or the 33.3%
are not spending a daily transportation fee while the 10
or 66.7% respondents spends 1- 50 pesos for daily
transportation fee.
Analysis
The 33.3% of respondents are not incurring any
transportation fee suggest a notable portion of
individuals who have access to free transportation
options, such as walking, cycling, or utilizing
complimentary services. This may also include those who
live close near the school. The other 66.7% who spend 1-
50 pesos for this daily transportation are more likely
use public transportation or engaging in short- distance
community. The low to moderate spending range indicates a
relatively cost- efficient approach to transportation.

Table 2.3: School Expenses
% of
School Expenses Counts Cumulative %
Total
0-100 2 13.3 % 13.3 %
100-200 5 33.3 % 46.7 %
Interpretation
Based on the result 2 of the participants or 13.3%
spend 0-100 pesos on school expenses. The 5 other
participants or the 33.3% spend 100-200 pesos per
semester, the other 4 participants or the 26.7% spend for
school ranging 200-300 pesos .1 respondent or the 6.7%
spends his/her school expenses for 300-400 pesos, the
other 3 participants or the 20.0% spend 400-500 pesos on
school expenses.
Analysis
Based on the data given the 13.3% of respondents
spending in the 0-100 range suggest a segment that
manages to keep their school-related expenses relatively
low. This may indicate efficient budgeting, reliance on
cost-effective resources, or reduced spending on non-
essential academic items.The largest portion, 33.3%,
falls within the 100-200 range, indicating a significant
number of respondents who allocate a moderate budget for
school-related expenditures. This group likely includes
individuals investing in necessary academic materials,

textbooks, and potentially educational support
services.With 26.7% spending between 200-300, this
segment suggests a group willing to make a relatively
higher financial commitment to their education. These
respondents may invest in additional resources,
educational technology, or academic experiences beyond
the basic necessities.The 6.7% spending in the 300-400
range represents a smaller but notable proportion. This
group likely includes individuals who prioritize academic
excellence and invest in higher-cost educational
materials, specialized tools, or tutoring services.The
20.0% spending between 400-500 represent a significant
segment willing to make a substantial financial
commitment to their education. This group may include
those pursuing specialized courses, advanced educational
resources, or investing in extracurricular activities
that contribute to their academic development.
Table2.4 : Rent Expenses
% of
Rent Expenses Counts Cumulative %
Total
800 1 6.7 % 6.7 %
1000-1500 9 60.0 % 66.7 %
1500-2000 3 20.0 % 86.7 %
3000 1 6.7 % 93.3 %

Table2.4 : Rent Expenses
% of
Rent Expenses Counts Cumulative %
Total
5000 1 6.7 % 100.0 %
Interpretation
Based on the result the 1 respondent or the 6.7% for
rent expense spends 800 pesos per month. The other 9
respondents or the 60.0% spend 1000-1500 pesos for
rental. The other 3 participants or the 20% spends 1500-
2000 pesos, 1 respondent or the 6.7% spend 3000 pesos
while the other 1 respondent or the 6.7% spend 5000 pesos
for rent.
Analysis
Based on the result, 6.7% of respondents spending
800 fall into a relatively lower rent expense category.
This segment may include individuals residing in more
budget-friendly accommodations or areas with lower living
costs.The largest proportion, 60.0%, allocating between
1000-1500, represents a significant portion of
respondents adopting a moderate to upper moderate rent
budget. This group likely includes individuals residing
in standard housing options, possibly including shared
accommodations or moderately priced apartments.With20.0%
spending between 1500-2000, this segment signifies a

group willing to allocate a higher budget for housing.
Individuals in this category may opt for more spacious or
centrally located housing, reflecting a priority for
enhanced living arrangements.The 6.7% allocating 3000
represent a segment with a higher rent budget,
potentially opting for premium housing options, upscale
neighborhoods, or larger living spaces that come with an
increased cost.Another 6.7% spending 5000 represent a
smaller but notable proportion willing to make a
substantial financial commitment to their housing. This
group may include individuals residing in premium or
luxury accommodations.
SOP 3. Financial Management Practices of ABM 12 Boarder
Students
Table3: Budgeting
Financial General Weighted Rank
Management Mean
Practices
Food 3.45 3
School Expenses 3.60 2
Rent Expenses 3.71 1
Interpretation
According to the findings, student boarders
typically prioritize their allowance for various
expenses. Rent expenses hold the top rank, registering a

general weighted mean of 3.71. Following by the School
Expenses, having the second rank with a general weighted
mean of 3.60. The third-ranked priority is food,
reflecting a general weighted mean of 3.45.
Analysis
The mean in food is 3.45 implies that a significant
portion of respondents falls within the neutral to
slightly agreeable range. This could signify that a
majority adopts a balanced approach to food spending,
considering both affordability and quality in their
choices. The mean 3.45 suggests a moderate level of
agreement among respondents regarding their food spending
habits. This indicates that opinions are diverse, with
some respondents likely expressing a more conservative
approach to food expenses, while others may lean towards
a more flexible or liberal spending style. The mean of
School Expense is 3.60 indicates a substantial level of
agreement among respondents concerning their school
expense habits. This suggests a shared perspective or
commonality in how individuals approach budgeting for
their education. The mean of rent expense is 3.71
indicates a strong consensus among respondents concerning
their spending habits related to rent. The higher mean
implies that, on average, respondents are willing to make
a substantial financial commitment to secure housing.
This commitment likely extends to various aspects of

renting, including the choice of location, amenities, and
possibly the quality of accommodation.
Table 3: Savings
Financial Management General Weighted Mean
Practices
Savings 3.37
Interpretation
The result that is 3. 37 could signify a percentage
increase in savings, indicating a positive financial
trend with a 3.37% improvement in the saving amount.
Which means that the individual has experienced a growth
or gain in their savings by this percentage, reflecting a
positive financial outcome.
Analysis
The General Weighted Mean falls on 3.37 which is
slightly above the midpoint, indicating that respondents
lean towards a positive sentiment regarding savings. This
suggests that the surveyed individuals are moderately
inclined to allocate a portion of their budget for saving
purposes, showcasing a favorable attitude towards
financial prudence.
Financial Management General Weighted Mean
Practices
Debt Management 2.89
Interpretation
Based on the result the general rated mean of Debt
Management is 2.89. Respondents respond that there might
be room for improvement in managing debts, but it’s not
at a critically low level. Consider identifying specific
areas for enhancement and implementing targeted
strategies to optimize debt management practices.
Analysis
Based on the result score of 2.89 falls below the
midpoint of a Likert scale indicating a somewhat negative
sentiment or lower agreement level. Likert scale of 2.89
suggests a relatively neutral sentiment towards debt
management. It’s important to consider additional context
or information to fully interpret the result. Further
quantitative data or comparison with benchmarks may
provide a more comprehensive understanding of respondents
views on debt management.

Chapter V
SUMMARY OF FINDINGS, CONCLUSIONS,
AND RECOMMENDATIONS
This chapter presented the data from the conclusion drawn
from the data. It outlined the recommendations made by
the researchers in light of the findings of the study.
Summary
This research study primarily focuses on assessing the
financial management practices of ABM 12 Boarding
students enrolled in the Accountancy, Business, and
Management (ABM) strand. A hybrid of Descriptive method
was utilized and the nominative survey technique was used
for gathering data. The survey questionnaire served as
the instrument of the gathering of the data.
Summary of findings
I. What is the demographic profile of students in
terms of :
Gender. Out of 15 respondents, 10 or 66.7% of
respondents were Female and 5 or 33.3% of the respondents
were Male.
Source of Income. 15 or 100% of the respondents
Source of Income is the Allowance given by their
parents.
Weekly Allowance. 6 or 40% of the respondents Weekly
Allowance is 200-500 pesos, while 9 or 60% of the
respondents is 500-1000 pesos.
Living Arrangement. 6 or 40% of the respondents
lived in a boarding house alone, 6 or 40% of the
respondents lived in a boarding house with their
relatives, 2 or 13.3% of the respondents.
II. What are the daily average expenses of a ABM
students in terms of :
Food. 4 or 26.7% of the respondents daily average of
expenses is 100-200, 3 or 20% of the respondents is 1-50,
7 or 46.7% respondents is 50-100 and 1 or 6.7% is 200-
500.
Transportation. 5 or 33.3% of the respondents daily
average of expenses is 0, 10 or 66.7% of the respondents
is 1-50.
School Expenses. 4 or 26.7% of the respondents daily
average of expenses is 200-300, 3 or 20.0% of the
respondents daily average of expenses is 400-500,5 or
33.3% of the respondents daily average of expenses is
100-200, 2 or 13.3% of the respondents daily average of

expenses is 0-100,1 or 6.7% of the respondents daily
average of expenses is 300-400.
Rent Expenses. 1 or 6.7% of the respondents daily
average of expenses is 5000, 9 or 60.0% of the
respondents daily average of expenses is 1000-1500, 3 or
20.0% of the respondents daily average of expenses is
1500-2000, 1 or 6.7% of the respondents daily average of
expenses is 800, 1 or 6.7% of the respondents daily
average of expenses is 3000.
III. What are the financial management practices of a
ABM students in terms of :
Budgeting. Out of 5 likert scale questionnaire the
general weighted mean of Food is 3.45, the School
Expenses general weighted mean is 3.60, and 3.71 is the
general weighted mean of Rent Expenses.
Savings. Out of 5 likert scale questionnaire the
general weighted mean of Savings is 3.37.
Debt Management. Out of 5 likert scale questionnaire
the general weighted mean of Debt Management is 2.89.
Conclusions
Based on the findings of the study, the demographic
profile of the students reveals that the majority of the
respondents were female (66.7%) compared to male
respondents (33.3%). Additionally, all of the respondents
relied on their parents’ allowance as their source of
income. In terms of weekly allowance, a significant
portion of the respondents (40%) received between 200-500
pesos, while the remaining 60% received 500-1000 pesos.
In regards to living arrangements, an equal number of
respondents lived alone in a boarding house (40%) and
lived with relatives in a boarding house (40%), while a
small percentage (13.3%) had a different living
arrangement.
Moving on to the daily average expenses of ABM 12
Boarding students, it was found that the majority of
respondents spent between 50-100 pesos on food (46.7%),
followed by 100-200 pesos (26.7%). For transportation
expenses, 33.3% of the respondents reported spending
nothing, while 66.7% spent between 1-50 pesos. in terms
of school expenses, the highest percentage of respondents
(33.3%) spend between 200-300 pesos, followed by 100-200
pesos (26.7%). Rent expenses varied, with the majority of
respondents (60%) spending between 1000-1500 pesos.

Regarding financial management practices, the
respondents’ average ratings on a Likert scale indicated
that they had a moderate level of budgeting skills, with
the highest weighted mean observed for rent expenses
(3.71), followed by school expenses (3.60) and food
expenses (3.45). In terms of savings, the respondents had
a relatively lower average rating (3.37) on the Likert
scale. Debt management skills were also rated moderately,
with a weighted mean of 2.89.
Recommendations
1. Financial Education Programs. Implement financial
education programs specifically tailored for ABM
students. These programs can focus on topics such as
budgeting, saving, and debt management. By equipping
students with essential financial skills, they can
make informed decisions regarding their expenses and
financial management.
2. Diversity Sources of Income. Encourage ABM students
to explore additional sources of income beyond
relying solely on their parents’ allowance. This can
include part-time jobs, internships, or freelance
opportunities. By diversifying their sources of
income, students can gain financial independence and

develop a stronger sense of financial
responsibility.
3. Budgeting Workshops. Conduct interactive budgeting
workshops to help ABM students effectively manage
their expenses. These workshops can provide
practical tips on creating a budget, tracking
expenses, and making informed financial decisions.
By empowering students with budgeting skills, they
can prioritize their spending and ensure financial
stability.
4. Encourage Saving Habits. Promote the importance of
saving among ABM students. Educate them on the
benefits of saving for future goals and emergencies.
Introduce strategies such as automatic savings,
deductions, setting financial goals, and exploring
different saving options like savings accounts or
investment opportunities.
5. Financial Counseling Services. Establish financial
counselling services within educational institutions
to provide personalized guidance to ABM students.
These services can offer one-on-one sessions to
address individual financial concerns, provide
guidance on debt management, and assist in creating
personalized financial plans.
6. Collaboration with Housing Providers. Collaborate
with housing providers to offer affordable and

suitable accommodation options for ABM students.
This can help reduce the financial burden of rent
expenses and ensure that students have access to
safe and affordable living arrangements.
7. Continued Research. Conduct further research to
delve deeper into the financial challenges faced by
ABM students. This can include exploring factors
influencing their financial management practices,
identifying barriers to savings, and evaluating the
long-term financial impact of their current
practices.
Acknowledgement
We would like to sincerely acknowledge Ma’am April
Pauline Arevalo, our esteemed teacher, for her invaluable
guidance and unwavering encouragement throughout the
course of our research. Without her expertise and
support, we would not have been able to navigate this
journey successfully.
Our heartfelt appreciation goes to the panelists who
generously shared their knowledge and experiences,
providing us with valuable insights and contributions
that greatly enriched our study. Their expertise and
willingness to impart their wisdom played a crucial role
in shaping the outcomes of our research.
Furthermore, we are immensely grateful for the
strong bond and teamwork among our group of close
friends. The collaborative efforts and dedication we
shared were instrumental in bringing this initiative to
fruition.
We extend our deepest gratitude to our friends for
their unwavering support and constant inspiration. Their
presence has been a continuous source of strength
throughout this endeavor.

We would also like to express our sincere
appreciation to the participants of our study. Their
willingness to share their time, wisdom, and experiences
was essential in completing this research, and their
contributions have been invaluable.
Lastly, we would like to extend our heartfelt thanks
to our families, whose love, support, and inspiration
have been the bedrock of our academic journeys. We are
forever grateful for their unwavering support, which has
been instrumental in our accomplishments.

Abstract
This quantitative research study explored the
financial management practices of ABM 12 boarding
students in Bulan National High School. The study aimed
to examine the impact of demographic characteristics,
including gender, financial support status, family income
range, and living arrangement, on the financial
management practices of these students. Additionally, the
study aimed to identify the role of financial literacy in
shaping their financial management practices.
The research design employed in this study was a
descriptive approach. The sample consisted of grade 12
boarding students in Bulan National High School, selected
through purposive sampling. A structured survey
questionnaire was used to collect data on the students’
financial habits, covering areas such as budgeting,
savings, and debt management practices.
The findings revealed Insights into the demographic
profile and financial practices of the ABM 12 boarding
students. The majority of respondents were female
(66.7%), and their main source of income was the
allowance provided by their parents. The highest daily

average expenses were observed in school-related
expenditures, followed by food and transportation. In
terms of financial management practices, the students
demonstrated moderate levels of budgeting and savings
practices, while debt management practices were rated
lower.
These findings highlighted the importance of
targeted interventions to enhance financial literacy and
promote effective financial management skills among ABM
12 boarding students. By understanding the relationship
between demographic characteristics and financial
practices, educators and policymakers can develop
strategies to improve financial decision-making and
support these students in their financial journey.
Overall, this study contributed to the understanding
of the financial management practices of ABM 12 boarding
students in Bulan National High School. Further research
could explore additional factors influencing financial
practices and evaluate the effectiveness of financial
education programs in improving financial management
outcomes.
Table of Contents
Chapter I
Background of the study
Statement of the problem
Scope and Delimitation
Significance of the study
Definition of terms
Conceptual framework
Chapter II
Review Related Literature
Review Related Studies
Gap of the study
Chapter III
Research Design
Sample
Research Instrument
Data Collection Procedure
Data Analysis Procedure
Chapter IV
Presentations of findings
Interpretation of findings
Analysis of findings
Chapter V
Summary
Findings
Conclusions
Recommendations
References
Appendices
Appendix A
Curriculum Vitae
References
https://www.google.com/url?
sa=t&source=web&rct=j&opi=89978449&url=https://
www.wallstreetmojo.com/strategic-budgeting/%23:~:text
%3DWhat%2520is%2520Strategic%2520Budgeting%253F,than
%2520one%2520year%2520to
%2520achieve.&ved=2ahUKEwi8zsHN7LCBAxWlxzgGHbwzAiEQFnoECA
4QBQ&usg=AOvVaw1L5HOt3kwZ_jP4DmhfDMwP
www.nerdwallet.com/au/personal-finance/what-is-a-
budget&ved=2ahUKEwitzv3L67CBAxXaS2wGHemcBCMQFnoECBoQAQ&us
g=AOvVaw0LjFRjjIHROJRS2Risrcqs
www.investopedia.com/terms/f/
finance.asp&ved=2ahUKEwjbnfaP67CBAxVuxzgGHTeBCeQQFnoECB0Q
AQ&usg=AOvVaw3ts73ulUmUHzVcgV05sJEj
www.investopedia.com/terms/e/
expense.asp&ved=2ahUKEwjMzsKe7LCBAxWpbmwGHafBAokQFnoECBkQ
AQ&usg=AOvVaw0K6uy_E9zCjfLY0Ehl-koZ
www.investopedia.com/insights/what-is-money/
&ved=2ahUKEwi_qoPK7LCBAxX6r1YBHTHhDekQFnoECBoQAQ&usg=AOvV
aw0hIReNekKpGxK_OYxUSqmn
https://scholar.google.com/scholar?
hl=en&as_sdt=0%2C5&q=financial+management+budgeting&oq=fi
nancial+management+#d=gs_qabs&t=1696148660042&u=%23p
%3DxdM2Sh9m7hMJ
hl=en&as_sdt=0%2C5&q=financial+management+between+student
s+&btnG=#d=gs_qabs&t=1696148862898&u=%23p%3DqN9cqoXaef8J
s+&btnG=#d=gs_qabs&t=1696148940023&u=%23p%3D1iGctNr4GeEJ
s+&btnG=#d=gs_qabs&t=1696148961949&u=%23p%3DUEhi6Q1rHVQJ
www.scribd.com/document/525268674/Assessing-the-
Financial-Management-Capabilities-of-Abm-Students-of-
Pcnhs-Completed-
Ver&ved=2ahUKEwjSnouht9SBAxUHSGwGHV9KBn8QFnoECBoQAQ&usg=A
OvVaw1k8ycX-xGr2BBktFlBpVbs
q=related:lRfCMktzItcJ:scholar.google.com/
&hl=en&as_sdt=0,5&scioq=financial+management+of+abm+stude
nts#d=gs_qabs&t=1696149179079&u=%23p%3DZlpnU9JMzmIJ
nts#d=gs_qabs&t=1696149185662&u=%23p%3DhXTtoVLYF5cJ
nts#d=gs_qabs&t=1696149209107&u=%23p%3DMO7__TBfswcJ
www.studocu.com/ph/document/arellano-university/
accountancy/final-research-group-4-abm-12-b/
18445731&ved=2ahUKEwjSnouht9SBAxUHSGwGHV9KBn8QFnoECDwQAQ&
usg=AOvVaw0AgiEm0CnhrnF9HwLeHC-S
nts#d=gs_qabs&t=1696149244252&u=%23p%3DBV9oiMDjadcJ
nts#d=gs_qabs&t=1696149231534&u=%23p%3DPjSAFVutllAJ
nts#d=gs_qabs&t=1696149260096&u=%23p%3DzQusV98Iv9oJ
https://www.studocu.com/ph/document/arellano-university/
accountancy/final-research-group-4-abm-12-b/18445731
https://www.academia.edu/30809698/
The_Effect_of_Being_an_ABM_Student_on_Budgeting_Daily_All
owances_Chapter_1_The_Problem_and_Its_Setting
https://www.scribd.com/document/525268674/Assessing-the-
Financial-Management-Capabilities-of-Abm-Students-of-
Pcnhs-Completed-Ver
www.coursehero.com/file/167696889/CHAPTER-1-3-Corpuz-
Alianza-Rodriguez-2docx/
&ved=2ahUKEwjSnouht9SBAxUHSGwGHV9KBn8QFnoECCQQAQ&usg=AOvV
aw3KYBuumZyI27BGgfJ-K8kd
https://ojs.aaresearchindex.com/index.php/aasgbcpjmra/
article/view/1280
https://books.google.com/books?
hl=en&lr=&id=WyviBAAAQBAJ&oi=fnd&pg=PP1&dq=info:AYHoufDto
6wJ:scholar.google.com/
&ots=qrYh0MwyLt&sig=C6glmpsnmmYeXRK7qjC8wXH1ccM
https://books.google.com/books?
hl=en&lr=&id=WyviBAAAQBAJ&oi=fnd&pg=PP1&dq=info:AYHoufDto
6wJ:scholar.google.com/
&ots=qrYh0MwyLt&sig=C6glmpsnmmYeXRK7qjC8wXH1ccM
https://researchdirect.westernsydney.edu.au/islandora/
object/uws:20527/
https://www.ioer-imrj.com/wp-content/uploads/2023/06/The-
Relationship-Between-Spending-Behavior-and-Student-
Financial-Management-Skills.pdf
http://ejournal.seaninstitute.or.id/index.php/InfoSains/
article/view/1849
https://journal-repository.theshillonga.com/index.php/
ijels/article/view/6154
https://citeseerx.ist.psu.edu/document?
repid=rep1&type=pdf&doi=db6b41f394ded965ac6b74ae53b20a0cf
acda1ca
hl=en&as_sdt=0%2C5&q=Awareness+and+Practices+on+Coastal+R
esource+Management+of+Public+High+School+Teachers+in+the+
Province+of+Ilocos+Norte
%2C+Philippines&btnG=#d=gs_qabs&t=1697376934219&u=%23p
%3DmOIlxOszQBsJ
https://link.springer.com/chapter/10.1007/978-3-030-
88389-8_23
journal.pencerah.org/index.php/jspi/article/view/
77&ved=2ahUKEwiPjciw1O-
BAxXQg2MGHZPaB9IQFnoECBgQAQ&usg=AOvVaw0ZcV6a970efGdP64s0C
oSK
https://www.atlantis-press.com/proceedings/iccite-
18/55909574
APPENDICES
Appendix A
DOCUMENTATION
Curriculum Vitae
Name: Janine Madrona
Address: Zone 8 Bulan, Sorsogon
Birthday: July 07, 2006
Citizenship: Filipino
Religion: Catholic
Civil Status: Single
Parents: Janet Madrona
Educational Background
Elementary: Alberto De Castro Elementary School
Secondary: Bulan National High School
Senior High School: Bulan National High School
“Babangon para sa baon”

Name: Ashlei Thenea G. Gunao
Address: San Vicente Bulan, Sorsogon
Birthday: June 14, 2006
Religion: Catholic
Parents: Amador Jr. A. Gunao
Mina Gunao
Elementary: San Vicente Elementary School
“I’m not lazy, I’m on energy-saving mode”

Name: Aleck Escaros
Birthday: December 07, 2005
Religion: Catholic
Parents: Santos Escaros
“meow”
Name: Jericho Manrique
Birthday: February 21, 2006
Religion: Iglesia ni Cristo
Parents: Analyn Manrique
Elementary: San Vicente Bulan Sorsogon
“Huwag kang mawawalan ng pag-asa. Marami ka pang
makakalandian – bata ka pa”

Name: Angel Desiree Cabales
Address: Zone 4 Bulan, Sorsogon
Birthday: January 08, 2006
Religion: Catholic
Parents: Bobeth Gallineto
Elementary: Bulan South Central School
“If tomorrow isn’t the due date, today isn’t the do date”
Name: Kristine Delloson
Address: Otavi Bulan, Sorsogon
Birthday: October 11, 2006
Religion: Catholic
Parents: Elsa Delloson
Elementary: Faustino G. Glua High School
“If you can’t be the best, be the worst”

Name: Eizzel Mae M. Gojit
Birthday: December 02, 2006
Religion: Catholic
Parents: Emma Medalla
“Huwag mong isipin yung pagod, isipin mo yung sarap”

Name: Donnalyn Mae Nares
Birthday: June 23, 2006
Religion: Iglesia ni Cristo
Parents: Michelle Nares
“Take time to make your soul happy :>”

PRACTICAL RESEARCH 2 CHAP 1 Appendices PR2

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

PRACTICAL RESEARCH 2 CHAP 1 Appendices PR2

Uploaded by

Copyright:

Available Formats

Republic of the Philippines

FINANCIAL MANAGEMENT PRACTICES OF ABM 12 BOARDING STUDENTS

ASHLEI THENEA G. GUNAO

ANGEL DESIREE G. CABALES

EIZZEL MAE M. GOJIT

DONNALYN MAE C. NARES

JOHN DENVER B. MEDALLA

This chapter presented the problem and context through

the Background of the study, Statement of the problem, Scope

and Delimitation, Significance of the study, and Definition

Background of the Study

Financial Management is a critical life skill that

equips individuals with the knowledge and abilities to make

informed financial decisions, manage their finances

effectively, and plan for their future financial well-being.

In today’s complex and financially driven world, possessing

financial management is of paramount importance. Amongst

various demographic groups, high school students, especially

those enrolled in Accountancy, Business, and Management

(ABM) strand, represent a significant segment of the

population that is at a crucial stage of their financial

development. Understanding their level of financial

management is essential for their future success and the

prosperity of the economy.

Management is the strategic planning and monitoring of

financial resources to achieve organizational goals. In the

context of ABM students at Bulan National High School,

understanding financial management practices is crucial as

these skills are foundational for future financial well

being (Smith, 2018). This study seeks to explore how

students apply financial management principles in their

Behavioral economics, as explained by Thaler and

Sunstein (2008), focuses on how individuals make financial

decisions. Applying this theory, our study aims to

investigate the behavioral factors that influence ABM

students’ financial choices and whether they align with

rational financial management practices (Johnson, 2017).

The Social Learning Theory posits that individuals

acquire financial knowledge and behaviors through

observation and interaction (Bandura, 1997). In the context

of this study, we will examine whether students’ financial

management practices are influenced by observing their peers

of family members managing finances (Gupta, 2016).

(Stigler, 1961), our study will explore how ABM students

access and utilize financial information. This theory

suggests that students’ ability to access reliable financial

information is critical for effective financial management

practices (Brown, 2019)

The Theory of Planned Behavior (Ajzen, 1991) posits

that individuals’ intentions and attitudes significantly

influence their behavior. Our research will investigate

whether ABM students’ intentions and attitude towards

financial management correlate with their actual financial

practices (Smith, 2015).

According to Agency Theory (Jensen & Meckling, 1976),

individual may delegate financial decision-making to others.

In context of ABM students, this theory prompts us to

investigate whether students delegate financial decisions to

their parents or guardians (Hatman, 2020).

The Resources-Based View of the Firm (Barney, 1991)

emphasizes the importance of resources for achieving a

competitive advantages. In the context of students’

financial management practices, we will examine whether