FOREIGN STUDIES:

According to Avard et al. (2005), high school graduates are not well-versed in the
fundamentals of personal finance. This highlights the fact that most students struggle
to balance a checkbook and don't understand the fundamentals of finance (Avard
Manton, English and Walker, 2005). According to a different academic study carried
out by the National Council on Economic Education Study (2005), 53% of senior high
school students in the US scored well on a basic quiz on economics and personal
finance. This emphasizes how senior students' personal financial literacy is lacking,
which has a detrimental impact on their financial behavior and decision-making. As a
result, high school graduates are ill-prepared to make responsible financial plans for
the future since they lack the fundamental knowledge and abilities needed to handle
their own finances. According to Lyons, Scherpf, and Roberts (2006), senior high
school students' capacity to handle financial challenges is contingent upon their prior
financial exposure prior to entering college. The study's financial literacy test focused
on fundamental money management. Worthington (2006) forecasted the personal
financial literacy of adult Australians using logit regression 17 models. According to
the survey, professionals, business owners, and those between the ages of 50 and 60
tend to have adequate personal finances. This survey also shows that women and the
unemployed typically have the worst personal finance practices. Almenberg and
Sodenbergh (2011) conducted a second study to determine whether there are any
fundamental differences in personal finance between Swedish adults who plan and
those who don't. According to the study's findings, women, individuals with lower
incomes, and older adults all have inadequate personal finance. While financial
conduct and financial literacy often go hand in hand, it is unclear how financial
education affects individual financial behavior. According to Lyons, Palmer,
Jayaratne, and Scherpf (2006), this 18 indicates that there are some questions
regarding the relationship between financial education and financial behavior.

LOCAL STUDIES:
Including the causes of stress (Pengpid, Peltzer, and Ferrer, 2014; Calaguas, 2012),
the reactions to stress (Dy, Espiritu-Santo and Sanchez, 2015; Labrague et al., 2017),
and the sources of stress. Studies on the stress-related experiences of nursing students
in the Philippines have been published much more frequently (e.g., Labrugue, 2014;
Labrugue et al., 2017). This may be due to the country's ongoing increase in nursing
school enrolment. A few research (e.g., Gingrich, 2009; Sta. Maria et al., 2015) have
investigated stress-related experiences as indicators of more complex psychological
disorders among students. According to government statistics, a considerable segment
of the school-age population faces financial challenges, therefore it is not implausible
that Filipino kids will encounter financial stress. At the elementary school level, about
twenty percent of Filipino children who left school cited a lack of funds as their
primary reason (Philippine Statistics Authority, 2015). According to Reyes, 36
Financial Stress and Well-Being, Tabuga, Asis, and Mondez (2015), dropout rates
were highest among 17-year-olds, especially those from lower-income households.
The high cost of higher education was cited by 37.58% of people in the college-age
population as the main reason they did not attend college or university; additionally,
16% of those who made this decision did so in order to find employment to support
their families (Reyes et al., 2015). In the current study, we hypothesised that financial
stress would have a negative relationship with Filipino students' subjective well-
being, or more particularly, their life satisfaction. As of right now, no published
research using a Filipino sample has demonstrated this association. Although financial
stress was not specifically measured in one recent study, it was shown that students
who experienced psychological distress were also likely to be living in poverty (Reyes
and Yujuico, 2014).