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Chapter 2

METHODS OF STUDY AND SOURCES OF DATA

This chapter provides a complete and in-depth description of the research

technique. The study’s research methodology, research locale, respondents and

participants of the study, tools used for gathering data and procedure of the study.

Research Design

A descriptive-comparative research design was used in this study. The survey is

effective for determining levels, mean frequency, measurements, and utilized survey as a

methodology. Researchers applies the descriptive-comparative design to determine the

status of a variable or phenomenon (Center of Innovation in Research and Teaching,

2019). The said method was able to establish the level of financial literacy based on

saving, budgeting, and investing. Whereas the technique was able to determine the level

of financial literacy and the sample chosen will be using a probability sampling

technique, because the goal of this survey research is to characterize the physical

attributes of a community. This will help to ensure that the sample more accurately

represents the population.

As data is collected, this technique develops its hypothesis. Quantitative

descriptive research is a non-experimental style of research in which the variables are

measured using numerical terms (McCombes, 2023). We employ survey research, a type

of quantitative descriptive study that encourages the use of surveys or questionnaires to

gather information regarding subject matter behavior. It comprises giving out surveys or
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questionnaires to a sample of the population, or the entire population if it is manageable

in order to gather data. (Bhaskaran, 2023)

Methods of Gathering Data

In order to have an adequate and self-perspective answer and to avoid any

discrimination and purposive judgement, the researchers decided to use an online

platform to survey. The study employed Google Forms as the online platform for

distributing questionnaires. Whereas researchers’ target respondents are in Cristo Rey

High School.

Research Instrument

The main instrument used in the study was the online test questionnaires are made

by the researchers which consisted of thirty (30) questionnaires on personal information,

financial literacy level such as saving, budgeting, and investing of public-school Teachers

in Cristo Rey High School. The questions are disseminated by putting a check mark that

corresponds their answer; using a scale of one to five (1-5) 1= strongly disagree, 2=

Disagree, 3= Neutral, 4= Agree and 5= Strongly Agree.

Respondents must first complete their descriptive statistics, which contain

questions about their gender, marital status, and age, before filling out any of the forms.

For reasons of confidentiality, the researchers do not request the participants' identities.

The results on Cronbach’s Alpha shows that there is internal consistency for the items in

Savings (α=.804), Budgeting (α=.837), and Investing (α=.901).

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Respondents of the Study

The Teachers in Cristo Rey High School were the respondents and participants in

the study. All the High School Teachers in all levels including the Senior High School

Students. The number of the respondents were fifty (58) in total and they are chosen by

the researchers. The Respondents are Male and Female, Age 20 to 50 years old and above

located from different areas in Tarlac. Whereas 22.4% of female and male respondents

are between the ages of 20 and 29, 37.9% are between the ages of 30 and 39, 29.3% are

between the ages of 40 and 49, and 10.3% are 50 and older. A total of 58 respondents

came from Cristo Rey High School.

Sampling Procedure

Purposive sampling, also known as selective sampling, was used to pick

respondents for this study. The respondents were the selected fifty (58) public teacher’s

from Cristo Rey High School.

Purposive sampling was used because the researcher believed that by doing so,

the results would be more accurate they would be able to acquire a representative sample

which also resulted in saving time and finances (Black K., 2010). Furthermore, due to the

nature of the research design and the aims and objectives that will certainly be relevant to

the study, this sampling approach may prove to be beneficial when only a small number

of people may serve as primary data sources.

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Statistical Treatment of Data

The descriptive comparative data like frequency, percentage, and weighted mean

were used and the data was acquired, assessed, and statistically analyzed using Microsoft

Excel. The demographic profile of the variable male, female and the other 3 areas saving,

budgeting, and investing was determined.

Furthermore, the IBM SPSS T-Test (Levene's Test) was used to assess the

hypothesis. By comparing the means of two different groups, the Independent Samples T-

test determines whether there is evidence to suggest that the population mean values are

statistically significantly different.

Table 1: Weighted Mean Range of Values

Likert Scale Likert Scale Interval Likert-Scale Description

5 4.50-5.00 Strongly Agree
4 3.50-4.49 Agree
3 2.50-3.49 Neutral
2 1.50-2.49 Disagree
1 1.00-1.49 Strongly Disagree

The mean could be used to summarize and describe the central tendency of

financial literacy scores among the public school teachers. Researchers might collect data

on various aspects of financial literacy, such as knowledge of budgeting, investing,

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saving, or understanding financial terms. The mean would provide a numerical value that

represents the average level of financial literacy within the sample of public school

teachers.

The frequency count and percentage were used to determine the personal profile

of the variables age, gender, status, and the number of years in teaching. The frequency

distribution allows an overview of data and provides a more natural way to find patterns,

interpret data and calculate the percentage.

Another technique used by the researchers in the study was the weighted mean.

This was used in order to determine the average responses of the different options in the

questionnaire. Using the mean as it aimed to determine the Financial Literacy of Public

School Teachers of Cristo Rey High School in terms of saving, budgeting, and investing.

Using Levene's test and IBM SPSS, the study aimed to employ the mean through

an Independent Sample T-test to determine the level of financial literacy among

accounting students in the areas of spending habits, saving practices, and financial

knowledge.
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