Preliminaries BBNHS 3

BAGONG BARRIO NATIONAL HIGH SCHOOL Page
THE ENGLISH DEPARTMENT i
Perceptions on Money Attitude and Behavior Among Grade 10 Students of
Bagong Barrio National High School
A Research Paper
Presented to
The Faculty of The English Department
Bagong Barrio National High School
In Partial Fulfillment of the Requirements
In English 10
By:
Bacon/Group 4
2023
THE ENGLISH DEPARTMENT ii
RESEARCHERS
TABBADA, JEREMIAH A.
BARELOS, KENSHIEN F.
MAMARIL, JOHN
ORIEL, MIKE SYLVESTER R.
BAUTISTA, JEWEL G.
IBARDALOZA, ERIKA C.
OPOG, DRENZY R.
VILLARINO, AVRIL JOY D.

THE ENGLISH DEPARTMENT iii
RECOMMENDATION FOR ORAL DEFENSE
This research paper titled “Perceptions on Money Attitude and Behavior Among
Grade 10 Students of Bagong Barrio National High School” prepared and submitted by
10-Bacon/Group 4, in partial fulfillment of the requirements in English 10 has been
examined and is hereby recommended for an oral examination.
RYAN ROMNICK B. SANCHEZ, PhD
Adviser
THE ENGLISH DEPARTMENT iv
APPROVAL SHEET
In partial fulfillment of the requirements in English 10, this research paper titled
Perceptions on Money Attitude and Behavior Among Grade 10 Students of Bagong
Barrio National High School has been prepared and submitted by 10-Bacon/Group 4 is
hereby recommended for oral examination.

Adviser
Approved in partial fulfillment of the requirements in English 10 by the Committee

on Oral Examination.
NICOLAI M. CAJEFE, PhD

Chairperson
LEVINIE T. CASTILLO, PhD MAYBELLE P. MARTINEZ, PhD

Member Member
__________________________ _______________________
Member Member
Accepted in partial fulfillment of the requirements in English 10.
AIRENE L. OLANO LILIBETH AGNES R. LISONDRA, EdD

Head Teacher VI, TED Head Teacher VI, Mathematics
& Administrative Officer for Grade 10
EMMANUEL C. AGUILAR
Principal III
THE ENGLISH DEPARTMENT v
CERTIFICATE OF ORIGINALITY
I hereby certify that this research paper titled, Perceptions on Money Attitude and
Behavior Among Grade 10 Students of Bagong Barrio National High School, is our
work and to the best of our knowledge, it contains no material previously written or
published by another person or organization nor any material which has been accepted
for an award and any other degree or diploma from a university or institution, except
where due acknowledgment is made thereof.
Furthermore, I/We declared that the intellectual content of this dissertation is the
product of our work although we sought assistance from others on the manner of
organization, presentation, language, and style.
10-Bacon/Group 4
Researchers
Date:
Attested by:
Adviser
Date:
THE ENGLISH DEPARTMENT vi
LANGUAGE EDITING CERTIFICATE
This is to certify that the research paper entitled “Perceptions on Money Attitude
and Behavior Among Grade 10 Students of Bagong Barrio National High School”,
submitted by 10-Bacon/Group 4, to the School of Graduate Studies, in partial fulfilment
of the requirements for the degree/program has been subjected to language
editing/proofreading.
Prepared by
10-Bacon/Group 4
And I have found it complete and satisfactory concerning grammar and
composition.
____________________________
LANGUAGE EDITOR
Affiliation
Date
THE ENGLISH DEPARTMENT vii
ACKNOWLEDGMENT
First, researchers would like to thank our Almighty God for giving strength,
wisdom, and knowledge to researchers of Bagong Barrio National High School.
Dr. Ryan Romnick B. Sanchez, the researchers’ advisor for his assistance,
guidance, and support to the researchers’ research project. With his help in our
research, researchers can achieve our goals as a student;
Dr. Levinie T. Castillo, the researchers’ mathematics teacher for her advice on
research paper, guidance on statistics and statistical treatment;
Panel Members, for their recommendations, advice, and encouragement towards
our research project;
Mr. Emmanuel C. Aguilar, Principal of Bagong Barrio National High School for
supporting the research program in Bagong Barrio National High School;
Ms. Rarizza S. Ferreras, Grade 10-Bacon Adviser for her support to advisory class
on the research project;
Grade 10-Bacon, for their emotional support and motivation to work to its
classmates who are researchers;
Respondents, for their response to research questionnaires. With their help, we can
answer the problem in research.
Last, to the researchers’ family and friends for their emotional and financial support
during our research project.

THE ENGLISH DEPARTMENT viii
DEDICATION
This research project is dedicated to the researchers’ family, friends, and
acquaintances for expressing their support, encouragement, love, and care during the
research project.
Researchers also dedicate this research project to our classmates, and schoolmates
who also participated in research program with love. To teachers who supported the
researchers for research study with their encouragement, support, motivation, and love.
To researchers’ research adviser who supported this research study conducted by
researchers and guide us in order to make the research study excel and free from error.
To panel members who guided researchers’ to excel the work of numerous
researchers in order to pass the requirements with their recommendations and
observations.
To principal of Bagong Barrio National High School who supported the research
program and allow the researchers to conduct a survey to students of Bagong Barrio
National High School.
Finally, researchers dedicated this research project to other researchers to expand
their knowledge about their chosen topic related to this research study and to expand
the topic related to this research study.

THE ENGLISH DEPARTMENT ix
ABSTRACT
Title : Perceptions on Money Attitude and Behavior Among Grade
10 Students of Bagong Barrio National High School
Researchers : 10-Bacon/Group 4
Adviser : RYAN ROMNICK B. SANCHEZ, PhD
School : Bagong Barrio National High School
School Year : 2023-2024
Degree : Junior High School
________________________________________________________________
THE ENGLISH DEPARTMENT x
TABLE OF CONTENTS
TITLE PAGE i
RESEARCHERS ii
RECOMMENDATION FOR ORAL DEFENSE iii
APPROVAL SHEET iv
CERTIFICATE OF ORIGINALITY v
LANGUAGE EDITING CERTIFICATE vi
ACKNOWLEDGMENT vii
DEDICATION viii
ABSTRACT ix
TABLE OF CONTENTS x
LISTS OF TABLES xii
LISTS OF FIGURES xiii
Chapter Page
1 THE PROBLEM AND ITS BACKGROUND
Introduction 1
Background of the Study 4
Review of Related Literature and Studies 5

THE ENGLISH DEPARTMENT xi
Synthesis 13
Statement of the Problem 13
Hypothesis 14
Significance of the Study 14
Scope and Delimitation 16
Theoretical Framework 18
Conceptual Framework 19
Definition of Terms 21
2 METHODOLOGY
Research Design 22
Population and Sampling 22
Research Instrument 25
Data Gathering Procedure 25
Statistical Treatment 27
Ethical Consideration 28
3 PRESENTATION, INTERPRETATION, AND ANALYSIS
OF RESULTS
Profile of Respondents 29
Perceptions on Money and Behavior of Grade 10 Students 30

THE ENGLISH DEPARTMENT xii
Is there a significant relationship on the perceptions on 36
money and behavior when profile is considered?
3 SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS
Summary of Findings 38
Conclusions 40
Recommendations 40
BIBLIOGRAPHY
APPENDICES
APPENDIX A - Survey Questionnaire 35
APPENDIX B - Permission to Conduct Survey 46
APPENDIX C - Statistics 47
APPENDIX D - Interpretation of Weighted Mean 52

THE ENGLISH DEPARTMENT xiii
LISTS OF TABLES
Table Page
1 Respondents of the Study 24
2 Profile of the Respondents Based on Age 29
3 Profile of the Respondents Based on Sex 30
4 Summary of Success Factor Questionnaire 30
5 Summary of Budget Factor Questionnaire 33
6 Summary of Evil Factor 34
7 Relationship Between Perceptions On Money and Behavior and Profile 36

THE ENGLISH DEPARTMENT xiv
LISTS OF FIGURES
Figure Page
1 Theory of Money Attitude 18
2 Conceptual Framework of the Research 19
3 Data Gathering Procedure 27

THE ENGLISH DEPARTMENT 1
CHAPTER 1
THE PROBLEM AND ITS BACKGROUND
Introduction
Money is typically defined as a means of exchange that allows people to fulfill their
needs by purchasing goods (Gąsiorowska & Zaleśkiewicz, 2023). However, money
becomes empowered with different meanings. Psychologists are interested in attitudes
toward money, and the effect money has on human relations (Furnham, 2014).
In recent decades, several branches of science have begun to investigate the
meanings given to money, which have contributed to the classic understanding of
money as a purely neutral object through a multidisciplinary perspective. In particular,
the construct of money attitude, which is defined as a reflection of money-related
perceptions, beliefs and feelings, has received attention.
This study aims at assessing perception as it defines the attitude and behavior of
students in Grade 10 at BBNHS that defines a combination of good and evil attitudes
towards money, with financial self-efficacy acting as a mediator and mindfulness as a
moderator. In addition, it helps in field area selection, as it is among 10 students at
BBNHS.
Money has a highly charged symbolic meaning because people attribute to it other
attributes related to its function as economic exchange (Gasiorowska, 2014; Luna-
Arocas & Tang, 2004, as cited by Sesini & Lozza, 2023). Attitude toward money
successfully mediated the effect of financial literacy and perceived financial security on
students' financial behavior. A 2016 University of Cambridge study found that attitudes
toward money are strongly correlated with financial behavior and outcomes. In
addition, research published in the Journal of Consumer Research in 2018 shows that
attitudes towards money can be influenced by social norms, peer pressure and
advertising, which influence financial decision-making processes.
Attitudes and behavior towards money are key aspects of the economic dynamics of
individuals and society and deserve extensive research in various fields. A nuanced
understanding of these phenomena has important implications for personal financial
management, economic policy and social welfare. The purpose of this research is to
delve into the complex interaction between attitudes to money and subsequent behavior,
which includes psychological, sociological and economic dimensions.
Several disciplines have begun to investigate the meanings of money in recent
decades, which has helped to challenge the traditional notion of it being a neutral
object.
The concept of money attitude, which is characterized as a reflection of money-
related thoughts, feelings and views, has received considerable attention. Previous
reviews of the psychological perspective of money reviewed methods and
demographics, but without a systematic approach (Furnham & Grover, 2022; X. Wang
et al., 2020).
Socioeconomic factors such as income level, employment status and social class
profoundly influence financial attitudes and behaviour, reflecting wider structural

inequalities in society (Dew, 2017). These factors shape people's perception of money
and their financial practices.
Budgeting is the process of devising a budget that involves setting objectives,
monitoring expenditures and allocating money for various expenses and savings.
According to Dr. Robert L. Lawson, the Journal of Applied Business and Economics
(2015) emphasizes the impact of psychological factors on budgeting success and
emphasizes the importance of attitude toward money in forming financial habits.
Money attitude is a concept that involves the emotional, cognitive, and behavioral
responses of individuals when it comes to money. things a lens through which
economic decision-making processes are analyzed (Furnham, 2014). Deeply rooted
beliefs, values, and perceptions about wealth, consumption, saving, and investing shape
people's attitudes toward money.
Financial literacy is an important determinant of money attitudes and behaviors, and
higher financial literacy correlates with more prudent financial literacy. Behaviors such
as budgeting and investing (Lusardi & Mitchell, 2014). Efforts to improve financial
literacy are needed to enable people to make informed financial decisions.
Based on the background of the above problem, the objectives of the research are:
to analyze the perception of students towards money and their behavior, analyze
attitude towards money, financial socialization and money experience in financial
knowledge and study the influence of good and bad attitudes, behavior through
financial knowledge of students.

Background of the Study
The escalating trend of a growing population lacking fundamental money ethics
raises profound concerns regarding the potential repercussions stemming from their
uninformed financial decisions, casting a shadow over the long-term sustainability and
stability of their financial well-being.
In the present era, some individuals spanning across different age groups, including
parents, seniors, and even tenth-graders enrolled at Bagong Barrio National High
School, are actively engaging in thoughtful contemplation regarding their financial
perspectives. This is associated postively with theoretical, economic, and political
values and associated negatively with aesthetic, social, and religious value. This
involves a deliberate decision-making process wherein they assess and determine the
appropriate amount of funds to allocate for their day-to-day necessities.
While an increasing number of tenth-grade students at Bagong Barrio National
High School are expressing their perspectives on financial matters, a notable gap exists
in their comprehension of how these individual beliefs concerning money may
intricately influence their overall financial situation. The existing body of literature on
this subject is characterized by a discernible scarcity of empirical evidence, thereby
presenting a challenge in substantiating the proposed theory regarding the correlation
between students' perspectives and their actions.

Nevertheless, the imperative for delving into extensive research on this particular
subject matter becomes evident, as it serves the dual purpose of not only addressing and
bridging the existing gaps in our comprehension of this issue but also carries significant
implications for tenth-grade students who are actively pursuing a comprehensive
understanding of Money Ethics. In essence, the exploration of this topic not only
contributes to the refinement of our knowledge base but also holds the potential to
directly impact and shape the ethical perspectives of these students in their financial
pursuits.
Review of Related Literature and Studies
This chapter presents different related studies about this research to give researchers
further knowledge and insights.
Money Attitude and Financial Literacy
Attitudes towards money are a key factor in shaping how individuals handle their
finances. Sesini & Lozza (2023) and Henchoz et al. (2019) explain that one's money
attitude is formed by their perceptions, beliefs, and emotions about money, as well as
their behavioral tendencies related to finances. This attitude has a significant impact on
how people manage their money.
On the other hand, financial literacy is the ability to comprehend and apply various
financial skills, such as managing personal finances, creating budgets, and making wise
investment choices. It involves making intelligent decisions with money, like setting
aside savings, planning a budget, and selecting profitable investments. Financial
literacy also encompasses understanding financial products and concepts, as well as
effectively managing debts and risks. Having a solid grasp of these financial
components and skills is essential for individuals to effectively handle their personal
finances and make informed decisions about their money (Fernando, 2023; Annuity.org,
2023; Corporate Finance Institute, 2023).
Demography, Differences on Age and Gender on Financial Literacy and Attitudes
Toward Money
A study by Lay and Furnham (2019), used their new questionnaire consisting of 30
items with five factors: achievements and success, power and status, mindful and
responsible, saving concerns, and financial literacy worries. Results showed that
demography, ideology, and self-rated happiness, success, and adjustment were related
to all five factors, especially the first two.
Moreover, another study by Fenton-O’Creevy and Furnham (2022) showed that
demographic variables accounted for 27% of the variance, money attitudes an
additional 14%, and financial capability an additional 24%.
Numerous study has shown difference between men and women on financial
literacy and attitudes toward money.
Gender significantly influence the money attitude particularly related to money as
power and prestige as per Furtner (2020). Moreover, research conducted by Furnham et
al. (2014) show that men are more likely to represent money as power and security
compared to women. Additionally, another study conducted by Mihály et al. (2017)
show almost the same result. For men, money means source of power and prestige
compared to women.
Another study by Purev (2018) in Mongolia also showed almost the same result.
Men represents money as a symbol of power and status compared to women, however
there are no significant difference on age.
Additionally, single-employed men had the most positive attitudes towards money
and single-employed women had the most negative attitudes (Meimandi et al., 2021),
further supporting the results of numerous research study.
Last, a study conducted by Renanita (2016) found that men view money as power
compared to women, and another study in Turkey show the same results with men are
tend to perceive money as power compared to women (Atta & Sayılır, 2019).
Another study by Sesini et al. (2023) revealed that men and women hold different
conceptions of money, with men looking at money as a symbol of success, and women
holding more ambivalent attitudes toward money as both a source of anxiety and a
means to secure security and prove their love.
However, according to research study by Angelova (2020), women perceived
money in a positive way compared to men, in contrary to previous findings created by
numerous researchers.
Numerous study has also shown difference on attitudes toward money based on
their age as conducted by numerous researchers around the world.

Regarding age, younger students and those aged 27 and 34 would rather see money
as a source of power and prestige, based on findings by Mihály et al. (2017).
On the other hand, people aged 20-25 described money as source of respect, symbol
of achievement and means of expressing abilities than younger people aged less than 20
years (Owusu et al., 2021).
Moreover, students aged 18-24 view money as a tool of power, use money to either
impress or dominate people as well as a source of protection from anxiety (Mulyani et
al., 2018).
Furthermore, students years view money as a tool of power, to either impress or
dominate people, and regard money as a source of anxiety and protection from anxiety
(Sharma et al., 2015, Fatoki, 2015).
However, it has emphasized age-related differences in the representation of money,
with young people inclined toward a negative perspective towards money compared to
other generation (Sesini, 2023) contrary to findings from previous research.
On the other hand, anxiety is the most influential money attitude factor on
Universiti Selangor (UnisEl) students, unlike other research conducted by previous
researchers (Kamis et al., 2020).
However, according to Talaei & Kwantes (2016), no significant correlation between
age and gender and attitudes toward money, contrary to numerous findings by different
researchers. Moreover, a study by Sulillari (2020) described that attitudes toward

money among male and female students from Albania are similar with different levels
of income.
On the other hand, age and gender has significant difference on financial literacy. A
study conducted at Cagayan State University discovered that older students have higher
financial literacy rates (Dulin, 2016).
Moreover, a study from the University of the Philippines Visayas revealed that
financial literacy is different for male and female students (Cainglet et al.,2023). Males
are tend to budget compared to females.
Work, Income and Earnings as Factors on Attitudes Toward Money
Individuals’ attitudes toward money may differ based on income and earnings
(Gąsiorowska, 2015).
According to research by Goidani (2021), non-earning individuals were found to
have higher levels of distrust in their attitude towards money compared to earning
individuals.
It reveals the role of attitude towards money as a strong predictor of financial well-
being (Utkarsh et al., 2020), and individuals' motivation to work was found to be
connected with their money attitude (Monteiro et al., 2015). And a research conducted
by Gasiorowska (2015), revealed that the affective dimension of money attitudes has
slightly changed the relationship between income.

On the other hand, another factor is over-indebtedness and indebtedness (Almeida
et al., 2021). Non-overindebted customers showed more positive attitudes toward
money than those over-indebted customers.
Beliefs and Attitudes of Money as Factors of Financial Well-being
According to Ratnawati et al., 2023, there are some effects of financial attitudes on
financial well-being and financial performance. Moreover, it analyses financial well-
being to mediate the effect of financial attitudes on MSME financial performance.
Structural Equation Modeling (SEM) states that there is a direct effect of financial
attitudes on financial well-being and financial performance and financial well-being
can mediate the effect of financial attitudes on financial performance. Moreover,
Individuals’ financial well-being has been recognised as an important concern to reach
individuals’ general well-being and societal welfare.
Understanding how individuals can ensure a good state of financial well-being is a
critical question. However, previous studies have not paid enough attention to
underlying the mechanisms by which individuals achieve financial well-being. The
purpose of it is to influence the attitudes of individual financial well-being to money.
(González et al., 2020).
Enhancing trend of better financial management practices is essential, especially for
working employees due to the increased levels of existing personal indebtedness, and
increasing focus on personal responsibility for financial planning among them. Money
attitude, financial practices, self-efficacy, and emotion coping had conspicuous

contribution to financial well-being , while financial practices were identified as the key
performing aspect to financial well-being.
(Sabri, Wijekoon, and Rahim, 2020). Financial socialization experience is directly
and positively associated with young adults' financial knowledge and financial
motivations (goal-oriented financial planning and self-control ability) and there are
indirect and positive associations between financial socialization and young adults'
perceived financial skill, financial behavior, and financial and subjective well-being.
Moreover, perceived financial skill significantly mediates the relationship between
financial motivations and financial management behavior and could indirectly influence
financial and subjective well-being. As a result, they are find positive associations
among financial management behavior, financial well-being, and subjective well-being
of young adults. (Fan, Lu, Park, Nang, 2021).
This descriptive-correlation study aims to assess the current financial behavior and
financial well-being of Filipino teachers and further investigate the different factors
related to these variables. Descriptive statistics revealed that teachers have a high level
of financial literacy, attitude, behavior, and well-being. Structural equation modeling
showed that financial literacy is significantly related to both financial behavior and
financial well-being, while financial attitude is significantly related only to financial
behavior but not to financial well-being. It also revealed that financial behavior has the
strongest effect on teachers' financial well-being, which also played a significant

mediating role in the relationship of financial literacy and financial attitude to financial
well-being. (Manalo, Uy, Bayona, 2024).
Financial Literacy as Factors on Attitudes Toward Money
Financial literacy may also influence their attitudes toward money (Susilowati et al.,
2020) and financial behavior (Garg & Singh, 2018). As well as that, other findings
showed that financial attitude and financial behavior have a stronger connection with
financial literacy than financial knowledge (Rai et al., 2019), and financial knowledge
(Allam & Khalil, 2023).
However, a study in Uzbekistan found out money attitude did not have a significant
impact on financial literacy (Isomidinova et al., 2017) contrary to a research conducted
in later year.
Status Consumption and Materialistic Tendencies Usage Influences Attitudes
Toward Money
Status consumption and materialistic tendencies also influenced their attitude
towards money (Van Schalkwyk et al., 2019). And social status may correlate with their
attitude toward money (Muzikante & Škuškovnika, 2018).
People who value material goods tend to use the money to show their power and
prestige, and (Halim & Dinaroe, 2019) money attitude affects significantly the purchase
decision of material things.
Family and Peers Influencing Attitudes Toward Money

Family, peers, and friends may affect their attitude towards money (Taneja, 2014;
Nga & Yeoh, 2015; Kübilay & Tunçel, 2021).
As acknowledged in earlier studies, children adapt their outlook towards money due
to their behavior. Family, peers and friends are the major social agents for the
development of attitudes toward money. Moreover, parental influence and peer
influence significantly changes attitudes toward money.
Synthesis
Multiple factors has influenced the financial literacy and attitudes toward money.
Conducted by multiple researchers, demography has differences on financial literacy
and attitudes toward money especially on age and gender. Men and women has
different attitudes toward money and financial literacy, and also there are findings that
attitudes toward money and financial literacy differ based on respondents’ age.
On the other hand, personality, ideology and beliefs influenced attitudes toward
money. Moreover, family and peers influenced attitudes toward money.
Another factors are work, income, spending, debt and earnings has also influenced
attitudes toward money.
To sum up, attitudes toward money and financial literacy may differ on every
individuals based on numerous factors, notably age and gender.
Statement of the Problem

The problem to be addressed in this study is the view of every student on money
and its impact on their life. This research aims to identify the factors that influence
students' attitudes and beliefs towards money, such as its purpose and its value on their
life.
1. What is respondents profile in terms of:
1.1 Age and;
1.2 Sex?
2. What is the perception of Grade 10 students on money attitude and behavior in
terms of:
2.1 Success;
2.2 Budget and;
2.3 Evil?
3. Is there a significant relationship on the perceptions on money and behavior
when profile is considered?
Hypothesis
There is no significant relationship on the perception on money as measured by
Money Ethic Scale when profile is considered.
Significance of the Study

This research was undertaken to know the perception of grade 10 students of
Bagong Barrio National High School about money. The following will gain from the
study's findings:
Students. The insights garnered from this study will provide additional information
on how they perceive and handle money, encouraging more responsible and correct use.
The study will empower them with the knowledge to manage their finances wisely and
they may know their perceptions toward money, whether it's about saving for the future,
spending within their means, or making smart investments.
Teachers. The outcomes of this study are particularly beneficial for teachers, as
they provide a comprehensive understanding of how money influences their students'
attitudes and beliefs. By grasping this relationship, teachers can incorporate lessons on
financial literacy into their curriculum, thereby helping students develop a balanced and
informed perspective on money. Understanding the impact of money on their students'
mindset will also enable teachers to address any misconceptions and promote healthy
financial habits.
Parents. This study holds significant value for parents as it provides insights into
the critical role that plays in shaping their children's attitudes and perceptions toward
money. By understanding the influence of financial matters on their children's mindset
and behavior, parents can better guide their offspring towards responsible money
management.
School Community. The findings of this research can inform and guide the school
community in developing effective strategies to teach financial literacy to students. By
understanding the impact of money on attitudes and behaviors, schools can design
comprehensive programs that equip students with the necessary knowledge and skills to
make informed financial decisions.
Researchers. This study holds great potential in helping them understand the
significance of addressing the current issue of financial literacy and comprehending the
influence of money on the minds of grade 10 students at Bagong Barrio National High
School. Through this research, researchers can gain insights into the underlying factors
that contribute to the financial literacy gap and perspective towards money among
students and also researchers can develop targeted interventions and educational
initiatives to bridge the gap and equip students with essential financial skills.
Future Researchers. This study serves as a valuable resource of both conceptual
and research literature, especially for those who plan to conduct studies related to the
topic of the present study. Future researchers can build upon the findings, theories, and
methodologies presented in this study to deepen the understanding of the subject
matter, explore new angles, or investigate related topics.
Scope and Delimitation
The geographical scope is confined to Bagong Barrio National High School,
specifically focusing on Grade 10 students within the school premises. The study
participants will be limited to the age bracket of 15 to 18 years, ensuring a consistent
and targeted sample. Utilizing the Money Ethic Scale as the primary research
instrument, a standardized questionnaire designed to measure attitudes and beliefs
about money, the study will employ quantitative data analysis methods with the aid of
statistical tools and software within a specified time frame during an academic term.
Delimitations acknowledge certain restrictions, including the exclusive focus on
Grade 10 students, limiting the generalization of findings to other grade levels or
schools. The age range limitation to 15 to 18 years ensures a cohesive demographic
group for analysis. The study is also context-specific, considering only the cultural and
socioeconomic context of Bagong Barrio National High School. The reliance on the
Money Ethic Scale as the sole data collection instrument may restrict the exploration of
other factors influencing financial behavior. Additionally, the temporal constraint
acknowledges that the findings may be specific to attitudes during a particular
academic term.
Further considerations for enhancing the research study involve the inclusion of
additional survey items to provide a more nuanced understanding of money ethics
among Grade 10 students. These survey items could explore aspects such as parental
influence, the impact of extracurricular activities on financial attitudes, and potential
variations in money ethics across different grade levels or schools. These adjustments
aim to broaden the study's perspectives and provide a more comprehensive

understanding of Grade 10 students' perceptions of money ethics at Bagong Barrio
National High School within the framework of a survey-based approach.
Theoretical Framework
Figure 1
Theory of Money Attitude

This study, which focuses on the Money Ethic Scale is supported by the theory
provided. This study has been supported by the Theory of Money Attitude by Tang
T.L.P. (1988). This study is anchored on Money Attitude even though money is
important in everyday life, there is a lack of empirical material and research concern
about the meaning of money and people's attitudes towards money in the psychological
literature. The results of a principal components factor analysis identified six
interpretable factors: achievement and obsession, good, power, expression, evil, and
management of money. The overall value of money was associated with theoretical,
economic, and political values and was negatively associated with aesthetic, social, and
religious. This theory is related to our study because many of the students have
imprinted in their minds that we need money in daily life.
Conceptual Framework
Figure 2
Conceptual Framework of the Research

In this conceptual framework, the independent variables encompass two main
aspects: Students profile and money attitude and behavior. The students profile is
characterized by demographic factors such as age and sex. These variables provide
insight into the unique characteristics and backgrounds of participants, which may
influence their perceptions and behaviors related to money.
1.1 Age: Serves as a significant determinant in understanding how individuals
perceive and manage money.
1.2 Sex: Gender differences can also play a role in shaping money attitudes and
behaviors.
Money attitude and behavior encompass three key dimensions: success orientation,
budgeting practices, and beliefs about money's nature.
2.1 Success Orientation: This dimension reflects individuals' beliefs and behaviors
regarding financial success and achievement.
2.2 Budgeting Practices: Budgeting behaviors encompass how individuals manage
and allocate their financial resources.
2.3 Beliefs about Money (Evil): This dimension explores individuals' beliefs about
the morality or ethical nature of money.
The dependent variable in this framework is the perception of money, which
encompasses individuals' subjective evaluations, attitudes, and beliefs about money.
Perception of money may be influenced by various factors, including individual

characteristics, socio-cultural influences, personal experiences, and psychological
factors.
Definition of Terms
Ambivalent. having very different feelings about someone or something about the
same time (Cambridge Dictionary, n.d.).
Dynamic. marked by continuous and productive activity or change (Merriam-
Webster, n.d.).
Emphasize. to draw special attention to something (Collins Dictionary, n.d.).
Ethics. it studies what is morally right or wrong (Secretariat, 2015).
Implication. a possible future effect or result (Britannica, n.d.).
Incentive. something that encourages to do something (Collins Dictionary, n.d.).
Money. it is an any item or medium of exchange that symbolizes perceived value
(Investopedia, 2024).
Money Ethics. it is defined as a measure of money attitude which represent how
much significance, is attributed to money (Tang, 1995, as cited by Aydın & Akben‐
Selcuk, 2019).
CHAPTER 2
METHODOLOGY
This chapter give details about the research design, population and sampling
technique to be use, research instrument to be use, procedure of gathering data,
formulas for data, and ethical consideration.
Research Design
The primary goal of this research is to identify the factors that influence student's
attitudes and beliefs towards money, specifically targeting Grade 10 students at Bagong
Barrio National High School. The researchers will utilize the Money Ethic Scale as a
standardized questionnaire to measure attitudes and beliefs about money. The data
analysis methods will be quantitative by using statistical tools and software.
Quantitative research is investigations in which the data that are collected and coded are
expressible as numbers (Williams et al., 2022). The research is limited to Grade 10
students within the school premises, and the participants will be limited to the age
bracket of 15-18 years old.
Population and Sampling
Purposive sampling was used in this study. There are 877 grade 10 students of
Bagong Barrio National High School excluding section OHSP. The respondents of this
study were the selected 350 grade 10 students of Bagong Barrio National High School
of the City of Caloocan for the school year 2023-2024.
The researcher use purposive sampling because this strategy is used in situations
where a researcher believes some respondents may be more knowledgeable than others,
and requires an expert to use their judgment in selecting cases with that purpose in
mind (Campbell et al., 2020).

Table 1: Respondents of the Study
Section Enrollees Samples Percent

Bacon 46 30 65.22
Shakespeare 51 30 58.82
Cartland 44 25 56.82
Frost 45 22 48.89
Wordsworth 42 20 47.62
Emerson 44 19 43.18
Miller 37 20 54.05
Milton 40 19 47.5
Poe 44 19 43.18
Tolstoy 38 19 50
Hemingway 46 18 39.13
Irving 45 18 40
Twain 36 17 47.22
Bronte 44 15 34.09
Chaucer 46 15 32.61
Chekhov 45 14 31.11
Potter 45 14 31.11
Hardy 45 8 17.78
Williams 44 8 18.18
** Expression is ** Expression is
Total 42.45
faulty ** faulty **
Research Instrument
To gather data, the researchers created an online survey form for students to answer
twelve questions about their attitude towards money to get the necessary data needed
for the research study. The questionnaire is divided into three parts, first section is
named “Consent for Data Privacy Act” where students are voluntarily participate in
research study. Second is “Personal Information Section” where students answer their
age, gender and section. And last section is “Questionnaire” where students will answer
12 item questionnaire with every questions have linear scale in order to answer the
questions. The research study will use and adopt the shortened version of Money Ethic
Scale developed by Tang, T. L. P. (1995). The original version of Money Ethic Scale
consists of thirty items and six factors, however, the version of Money Ethic Scale will
be use in this research consists of twelve items and three factors: success, budget, and
evil (Tang, 1990). The instrument will be used in this research study uses a seven-point
Likert scale with the following anchors: disagree strongly = 1; neutral = 4; and agree
strongly = 7. The Cronbach’s α for three factors which are success, budget, and evil
was 0.76, 0.83, and 0.66 respectively. Cronbach’s α of the 12-item Money Ethic Scale
was 0.70.
Data Gathering Procedure
The research Conducting a survey questionnaire tailored to the attitude and
behavior of grade 10 students regarding money the survey method, such as online
surveys, considering the accessibility and preferences of the target respondent.
The researcher obtaining a responses from grade 10 students to find out their
behavior and attitude towards money, distribute the survey to grade 10 students from
Bbnhs, ensuring a diverse representation of backgrounds and perspectives.
The researcher Systematically gather responses from the survey questionnaire,
Collectioning a data ensuring accuracy and completeness of the data collected from
grade 10 students. the collected data in a categorizing responses based on relevant
themes and variables related to money attitude and behavior.
The researcher uses statistical analysis methods and software to analyze the
collected data, identify evil and good behaviors, and correlate the views of grade 10
students on money attitudes and behaviors.

The researcher Interpret the analyzed data within the perception of the research
objectives, considering the unique perspectives and experiences of grade 10 students.
Extract meaningful insights from the identified patterns and trends in money attitude
and behavior among this students.
The researcher report the results of the study,Compile a comprehensive report
summarizing the research methodology, key findings, significant trends, and
implications for understanding money attitude and behavior among grade 10
students.Present the results using a formal presentation such as research defense to
enhance comprehension, and provide recommendations for statistician and grammarian
based on the interpretation of the data.

Figure 3
Data Gathering Procedure
Statistical Treatment
The following statistical formula/procedure was used and approved by the
statistician to enable the researcher to solve the statement of problem.
Frequency of Count. This method was used to answer the specific question #1.
This formula is use to determine the numbers of respondent who answered the
particular item according to their age, sex, and section. The Demographic Profile of the
respondents will be determined using the Formula of Percentage.
Weighted Mean. The researchers used this formula to answer the specific question
#2. This formula is use to calculate the average value of the data by multiplying the
number of responses by the given data and dividing the results by the total number of
respondents.
Pearson Correlation Coefficient. The researchers used the Pearson Correlation
Coefficient to solve for the specific question #3. The Pearson Correlation Coefficient
was used to measure the linear association between the two variable.
Ethical Consideration
The researchers’ plan is to ask the respondents if they will agree to answer the
online survey form, an online platform (Google Form) will be used. However,
researchers do not plan to use force on the respondents to answer the online survey to
ensure their safety, if they are willing to answer, researchers will make sure that their
pieces of information will be hidden especially respondents’ name. Answering the
questionnaires in our Google forms will follow the rules of privacy, as it is accessible
for everyone in this modern day to use Google.

CHAPTER 3
PRESENTATION, INTERPRETATION, AND ANALYSIS OF RESULTS
This chapter presents, interprets, and analyze the data gathered from the 357 grade
10 students of Bagong Barrio National High School in this study related to problems
stated in statement of the problem.
1. Profile of the Respondents
This section presents the profile of every 350 respondents based on age and sex.
The Table 2 below presents the age bracket, frequency, and percentage and the Table 3
presents the sex, frequency, and percentage.
Table 2: Profile of the Respondents Based on Age
Age Bracket Frequency Percentage(%)
15 151 43.14
16 148 42.29
17 33 9.43
18 18 5.14
Based on findings above, most of the respondents are aged 15 years old with 151
and composed of 43% of the population, followed by age 16 years old with 148
respondents and composed of 42% of the population, aged 17 with 33 and composed of
9% of population, and aged 18 with 5 respondents and composed of 5% of population.

Table 3: Profile of the Respondents Based on Sex
Sex Bracket Frequency Population(%)
Female 200 57.14
Male 150 42.86
Based on findings on Table 3, most of the respondents were female with 200
respondents and composed of 57% of the population, compared to male with 150
respondents and composed of 43% of the population. According to UNESCO (2021),
there are more female students in secondary school compared to male students.
2. Perceptions on Money and Behavior of Grade 10 Students
This section presents the profile of every 350 respondents based on their respond on
every questions from success factor. The Table 4,5 and 6 below presents the question,
likert scale, and weighted mean and interpretation.

2.1 Success Factor
Table 4: Summary of Success Factor Questionnaire
Questionnaires WM Interpretation
1. Money is a symbol of success 5.03 Somewhat Agree
2. Money will help you express your abilities 4.46 Somewhat Agree
3. I value money very highly 5.15 Somewhat Agree
4. Money represents one achievement 4.49 Somewhat Agree
5. Money can give you the opportunity the be

5.05 Somewhat Agree
what you want to be
6. Money gives you autonomy and freedom 4.75 Somewhat Agree
7. Money makes people respect you in
community 4.31 Neutral
8. Money is important 5.76 Agree
Average Weighted Mean 4.9 Somewhat Agree
Legend: 1.00-1.85 Strongly Disagree, 1.86-2.71 Disagree, 2.72-3.57 Somewhat Disagree, 3.58-
4.43 Neutral, Somewhat Agree (4.44-5.29), Agree (5.30-6.15), Strongly Agree (6.16-7.00)
WM - Weighted Mean
This table is about the success factor of money in students. According to the table,
money is a symbol of success at 5.03, money will help you express your abilities at
4.45, I value money very highly at 5.10, money represents one's achievement at 4.49,
money can give you the opportunity to be what you want to be at 5.12%, money gives
you autonomy and freedom at 5.07, and money makes people respect you in the
community at 4.02. Lastly, money is important at 5.92. In this table, it shows that most
of the students say that money is important to them (5.92), while the other learners say
that money makes people respect their community (4.02).
According to Walker, “Money is what money does.” It has a lot of functions and is
very important to all of us, as we use it mainly for transactions and consumption, which
is to satisfy our needs and wants. Moreover, human beings need money to pay for all
the things that make their lives possible, such as shelter, food, healthcare bills, and a
good education (Rakoczy, 2023)
2.2 Budget Factor
Table 5: Summary of Budget Factor Questionnaire
1. I budget my money very well 4.89 Somewhat Agree
2. I use my money very carefully 5.16 Somewhat Agree
Average Weighted Mean 5.02 Somewhat Agree
WM - Weighted Mean
Based on findings above in Table 5, Most of the Grade 10 students are using there
money carefully with 5.16. While other learner are budgeting there money very well
with 4.89. The average weighted mean is 5.02 which interpreted as “Somewhat Agree”.
According to Lusardi and Mitchell (2014), having a good level of financial literacy,
which includes budgeting and money management skills, is crucial for making
informed financial decisions. Students who possess strong financial literacy skills are
more likely to develop effective budgeting habits and manage their money wisely.
2.3 Evil Factor
This section presents the profile of every 350 respondents based on their respond on
every questions from evil factor. The Table 4 below presents the question, likert scale,
and weighted mean and interpretation.

Table 6: Summary of Evil Factor Questionnaire
1. Money is the root of all evil 3.93 Neutral
2. Money is evil Somewhat

3.44
Disagree
Composite Mean 3.68 Neutral
WM - Weighted Mean
Based on findings in Table 5 most of the grade 10 student are believing that money
is the root of all evil with 3.92,While other learner rarely are believing with 3.44.The
average weighted mean is 3.92 which interpreted as "Neutral"
According to Rogoff (2016) from the book titled "The Curse of Cash", many crimes
such as drug trafficking, money laundering, and terrorist financing are stemmed by
money, as the transaction of cash are difficult to trace.

3. Is there a significant relationship on the perceptions on money and behavior
when profile is considered?
Table 7: Relationship Between Perceptions On Money and Behavior and Profile
Correlation
Hypothesis Relationship P-Value Decision Interpretation
Coefficient
Relationshi
p Between
Perceptions
There is a significant
On Money 0.016 Very Weak 0.012 Reject H0
Relationship
and
Behavior
and Profile
In the first scenario, the Pearson correlation coefficient of 0.016 suggests a very
weak negative correlation between perception on money and behavior. The p-value of
0.012 indicates that this correlation is statistically significant. Therefore, we reject the
null hypothesis (H0), concluding that there is no significant relationship between
perception on money and behavior.

CHAPTER 4
SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS
This chapter presents the summary of findings, conclusions and
recommendations from this research.
In summary of findings, it gives answer on questions from statement of the
problem. In conclusions, it summarizes the findings from chapter 3 and last,
recommendations presents the suggestions from the researchers.
Summary of Findings
The findings from the research were given in order based on statement of the
problem.
1. Respondents profile in terms of:
1.1 Age:
Based on findings presented in the research, the majority of the respondents
are aged 15 years old, making up 43% of the population. This is followed by
respondents who are aged 16 years old, accounting 42% of the population. A smaller
portion of the respondents are aged 17 (9% of the population) and 18 (5% of the
population).
1.2 Sex:
In terms of sex, there were 200 female respondents, making up 57% of the
population and 150 male respondents, accounting 43% of the population.

2. Perception of Grade 10 students in terms of:
2.1 Success:
Based on the findings of the survey, the average weighted mean pertaining to
the success factor was 4.9, which was interpreted as indicating a level of choice in the
survey categorized as "somewhat agree."
2.2 Budget:
Based on the outcomes derived from the survey analysis, it has been
determined that the average weighted mean pertaining to the budget factor stands at
5.02, a value which has been construed to signify a level of choice in the survey falling
within the category denoted as "somewhat agree."
2.3 Evil:
As per the findings of the survey, the average weighted mean concerning the
evil factor is recorded at 3.68, with its interpretation derived from the selection in the
survey indicating "neutral".
3. Relationship between perceptions on money and behavior when profile is
considered
There is a significant difference between perceptions on money and behavior
when profile is considered.

Conclusions
Based on findings of the study, the following conclusion are drawn in this
research study.
1. The perceptions of money and behavior among grade 10 students is almost
indifferent.
2. The findings of this study show that the perceptions of money and behavior can
be influenced by age and sex.
Recommendations
Based on the conclusions drawn from this study, the following research
recommendations are proposed:
1. More studies could look into the reasons why grade 10 students have a neutral
attitude towards money and behavior. This could shed light on why they feel this way
and how it affects their financial actions.
2. It might be useful to compare how feelings about money and behavior change
across different age groups, not just among grade 10 students. This could give a wider
view of how these feelings develop as people grow.
3. Considering that age and gender affect how grade 10 students view money and
behavior, future research may look into how these factors shape their views. This could
include a detailed study of how society and culture play a part.

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(Original work published 2022)
APPENDIX A
Survey Questionnaire
Consent for Data Privacy Act
Personal Information Section

Questionnaires
APPENDIX B
Permission to Conduct Survey
March 1, 2024
EMMANUEL C. AGUILAR
Principal III
Thru: Dr. LILIBETH AGNES R. LISONDRA

Grade 10 Supervising Head
Attention: Dr. LEVINIE T. CASTILLO

Grade 10 Level Chairperson
Dear:
May this communication find you safe and in the best of health!
We are Grade 10 students from 10- Shakespeare currently doing a study entitled “Perceptions
on Money Attitude and Behavior Among Grade 10 Students of Bagong Barrio National
High School” in partial fulfillment of the requirements in English 10.
In view of this, we respectfully request permission to allow us to administer our survey

questionnaire to the Grade 10 students as respondents through google forms.
Rest assured that all the information the respondents will share will conform with the ethical
standards considering the convenience and availability of the intended respondents. Moreover,
this undertaking is being pursue as part of our academic compliance.
Our gratitude for your indulgence.
Thank you and more power.

Respectfully yours,
Group 4 10-Bacon
Researchers
Recommending Approval:
RYAN ROMNICK B. SANCHEZ

English 10 Teacher
AIRENE L. OLANO
Head Teacher VI, TED
APPENDIX C
Statistics
APPENDIX D
Interpretation of Weighted Mean
Weighted Mean Interpretation
Strongly Disagree 1.00-1.85
Disagree 1.86-2.71
Somewhat Disagree 2.72-3.57
Neutral 3.58-4.43
Somewhat Agree 4.44-5.29
Agree 5.30-6.15
Strongly Agree 6.16-7.00
Interpretation of Correlation Coefficient

Value of Correlation Coefficient Relationship Interpretation
0.00-0.199 Very Weak
0.20-0.399 Weak
0.40-0.599 Moderate
0.60-0.799 Strong
0.80-1.000 Very Strong

Preliminaries BBNHS 3

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BAGONG BARRIO NATIONAL HIGH SCHOOL Page

THE ENGLISH DEPARTMENT i

Perceptions on Money Attitude and Behavior Among Grade 10 Students of

Bagong Barrio National High School

The Faculty of The English Department

Bagong Barrio National High School

In Partial Fulfillment of the Requirements

ORIEL, MIKE SYLVESTER R.

VILLARINO, AVRIL JOY D.

RECOMMENDATION FOR ORAL DEFENSE

10-Bacon/Group 4, in partial fulfillment of the requirements in English 10 has been

examined and is hereby recommended for an oral examination.

RYAN ROMNICK B. SANCHEZ, PhD

RYAN ROMNICK B. SANCHEZ, PhD

Approved in partial fulfillment of the requirements in English 10 by the Committee

NICOLAI M. CAJEFE, PhD

LEVINIE T. CASTILLO, PhD MAYBELLE P. MARTINEZ, PhD

Accepted in partial fulfillment of the requirements in English 10.

AIRENE L. OLANO LILIBETH AGNES R. LISONDRA, EdD

where due acknowledgment is made thereof.

organization, presentation, language, and style.

RYAN ROMNICK B. SANCHEZ, PhD

LANGUAGE EDITING CERTIFICATE

submitted by 10-Bacon/Group 4, to the School of Graduate Studies, in partial fulfilment

of the requirements for the degree/program has been subjected to language

And I have found it complete and satisfactory concerning grammar and

wisdom, and knowledge to researchers of Bagong Barrio National High School.

research, researchers can achieve our goals as a student;

research paper, guidance on statistics and statistical treatment;

Panel Members, for their recommendations, advice, and encouragement towards

our research project;

supporting the research program in Bagong Barrio National High School;

on the research project;

classmates who are researchers;

answer the problem in research.

during our research project.

This research project is dedicated to the researchers’ family, friends, and

To researchers’ research adviser who supported this research study conducted by

To panel members who guided researchers’ to excel the work of numerous

researchers in order to pass the requirements with their recommendations and

National High School.

Finally, researchers dedicated this research project to other researchers to expand

the topic related to this research study.

Title : Perceptions on Money Attitude and Behavior Among Grade

10 Students of Bagong Barrio National High School

Adviser : RYAN ROMNICK B. SANCHEZ, PhD

School : Bagong Barrio National High School

School Year : 2023-2024

Degree : Junior High School

RECOMMENDATION FOR ORAL DEFENSE iii

LANGUAGE EDITING CERTIFICATE vi

LISTS OF TABLES xii

LISTS OF FIGURES xiii

1 THE PROBLEM AND ITS BACKGROUND

Background of the Study 4

Review of Related Literature and Studies 5

Statement of the Problem 13

Significance of the Study 14

Scope and Delimitation 16

Population and Sampling 22

Data Gathering Procedure 25

3 PRESENTATION, INTERPRETATION, AND ANALYSIS

Perceptions on Money and Behavior of Grade 10 Students 30

Is there a significant relationship on the perceptions on 36