Republic of the Philippines

Department of Education
Region V (Bicol)
Division of Catanduanes
Virac, Catanduanes
CALATAGAN HIGH SCHOOL
Virac, Catanduanes

Level and Impact of Financial Literacy on the 4P’s Beneficiary of SHS Students in
Calatagan High School.

In partial fulfilment of the requirements for Practical Research 2 (Quantitative)

Submitted by:

Mekaelah Khem M. Guerrero.

Submitted to:

Raissa Del Valle

(Practical Research 2 Teacher)

October 2022
TABLE OF CONTENTS

Title
Page…………………………………………………………………………………............i
Table of
Contents……………………………………………………………………………......ii

CHAPTER 1. The Problem and Its Setting

Background of the Study….……………………………………………………………1
Statement of the Problem………………………………………………………………2
Significance of the
Study………………………………………………………………..3
Scope and Delimitation of the
Study…………………………………………………...3
Definition of Terms………………………………………………………………………
4

CHAPTER 2. Review of Related Literature and Studies

Related Literature………………………………………………………………………5
Related Studies…………………………………………………………………………7
Synthesis of the State of the
Art……………………………………………………….8
Gaps Bridged of the Present Studies…………………………………………………
8
Conceptual
Framework…………………………………………………………..........9

CHAPTER 3. Research Design and Methodology

Design in Study...
……………………………………………………………………..10
Sources of Data....……………………………………………………………………
10
Sampling
Procedure………………………………………………………………….10
Instrumentation and Its
Validation…………………………………………………..10
Data Gathering
Procedure………………………………………………………......11
Method of Data Analysis………………………………………………………….....11
 Statistical Treatment of
Data………………………………………………………...11

CHAPTER 1

PROBLEM AND ITS SETTING

Background of the Study

Financial Literacy is the ability to understand and effectively use

various financial skills, including personal financial management, budgeting, and
investing. It is the foundation of relationship with money, and it is a lifelong journey of
learning.

In this study, Pantawid Pamilyang Pilipino Program (4Ps) is a conditional

cash transfer program that provides motivation for poor families to invest in their future
by ensuring that children go to school. The program aims to provide social assistance to
its beneficiaries. They were providing the supplies for education for the students.

The 4P’s is considered as the largest social protection program in the

Philippines with the widest coverage of the marginalized households (Department of
Social Welfare and Development, 2009). The DSWD is the government agency tasked
to spearhead the selection of the grantees and provision of cash grants to eligible
beneficiaries (Reyes et al., 2013) who have affirmed that they will abide to, and satisfy
all conditions.

The program is designed after the contingent money move (CCT) plans in
Latin American and African Nations, which have lifted great many individuals all over
the planet from destitution (Raquiza, 2018; Fiszbein, et al., 2009). Same with a large
portion of the Contingent Money Move Projects being carried out in various nations, it is
among the objectives of the Philippine 4Ps to break the pattern of neediness and
address the requirements of the underestimated by enhancing the family recipients’
monetary asset through the money award.
 The provision of the cash grant is expected to permit children from family-
beneficiaries to finish primary and secondary schooling and therefore find decent jobs
that will inhibit the passing of poverty to the next generation. There are also studies
which assets to the positive effect of social programs including 4Ps to the academic
performance and in minimizing the dropout rate of student-beneficiaries in both the
primary and secondary schools in the other countries and in the Philippines( Raymundo,
2007; Reyes et al., 2015; Harouman, 2012).

Some students of Calatagan High School fortunately qualified for the

grant. The government invested billions to sustain the program and to provide to
students who belong to the disadvantaged families. This situation gleam to researcher
to study the Level and Impact of Financial Literacy on the 4P’s Beneficiary of SHS
Students in Calatagan High School.

The researchers aim to focus on SHS Students of Calatagan High

School as their respondents wherein the focus of the research will be more subjective to
it is correlated. The main focus of the study is on the Level and Impact of Financial
Literacy.

As ABM students, the researchers goal is to know the Level and

Impact of Financial Literacy among SHS Students of Calatagan High School.

Statement of the Problem

This research is designed to determine the Level and Impact of Financial Literacy
on the SHS Students of Calatagan High School who are benefeciaries of 4P’s, School
Year 2022-2023.

Moreover this study sought to answer the following questions:

1. What is the personal profile of the respondents in terms of:

a. Section
b. Age
c. Gender
d. Parents occupation
e. Received cash from 4P’s

2. What is the level and impact of financial literacy of Senior High Students?

3. What is the difficult decisions of the students do in budgeting the money?

 4. Is there significant relationship between the personal profile of the SHS Students
and their decisions to budgeting the money?

Significance of the Study

Identifying and determining the level and impact of financial

literacy on the 4P’s beneficiary of SHS students in Calatagan High School is a
great help, specifically to students.

Students are the first group to be benefited at most by this study. From
this activity, students will be more aware of their strengths and weakness towards
budgeting their money. Also they can get here the possible solutions on how to manage
the money that they received from 4P’s, and they will know the things that serve as
barrier to better understand the Financial Literacy.

To the teachers, especially SHS teachers of Calatagan High School, this

will be a great help for them because it will serve as their eye opener to understand their
students better and become aware of their students.

Through this study, the parents will know what the possible actions they
can do to become more responsible parents and motivate their children to study well,
particularly because they are beneficiary of 4P’s.

To the future researchers, this study will benefit them in a way that it
may serve as their guide in doing their own study.

Furthermore, to the researchers themselves, the gathered data will

helped them to have broader knowledge about the topic under study.

Scope and Delimitation of the Study

 This study focused on the SHS students of Calatagan High School who
beneficiary of 4P’s, in determining their competencies towards budgeting using their
own skills. SHS Students of CHS were chosen as respondents of this research because
they have the ability to manage their money, the researchers can measure their learning
from JHS which can be helpful to determine the level and impact of financial literacy on
the 4P’s beneficiary. We are conducting the research in the said school because we are
currently enrolled here.

Definition of Terms

The following terms used in the study defined operationally and

conceptually:

Level - refer to the status of the SHS students of Calatagan High School.

Impact – refer to the impression of one thing on another: a significant or major effect.

Financial Literacy – refers to the foundation of relationship with money, and it is a

lifelong journey of learning.

Beneficiary- refers to the person who receives a cash grant.

SHS Students – refers to the respondents of this study.

Parents’ Occupation – refers to the work of the parents of the students.

 Chapter 2

REVIEW OF RELATED LITERATURE AND STUDIES

This chapter presents a review of literature and studies relevant to the

topic. Both foreign and local literature and studies were gathered providing the
researcher valuable inputs needed in the present study. The synthesis of the literature
and studies was also presented at the end of the chapter.

Related Literature

The 4Ps program started last 2008 under the previous administration
and continued in massive scale in Aquino Administration; This CCT entails several
provision which still unfamiliar to both school administrators and teachers alike.
Presently the government spending staggering amount of money per year, 44 billion by
2013 and 62 billion in 2014 to sustain the program; which eventually added to fiscal
national debt. In order to implement the program Philippine Government has granted
the amount of $800 million from World Bank and Asian Development Bank; therefore
we can conclude that the funding of the program came from loan and eventually paid by
tax payers.

One of the targets of the CCT program is to decrease the drop-out rate
among the poorest high school it only mean that the teachers must be aware on the
program. The first thing we have to understand is the monetary subsidence of the
program; 4Ps recipient is receiving the amount of 300 pesos for educational assistance
per qualified household and additional 500 pesos for health and nutrition per household
monthly. Subsequently, 4Ps recipient is required to participate in community-school
related program such as clean drive, brigade eskwela and family day session.
Furthermore, students or pupils under 4Ps program must attend and complete the 85%
of monthly attendance. Conversely, they should have an average grade of 75. 4Ps
recipient must coordinate and cooperate to any school related activities since there is
educational assistance give to them. In addition 4Ps recipient who is no longer in school
should be removed from the program.
 Poverty remains a big challenge in the Philippines. To address the
problem, the government introduced Pantawid Pamilya Program that uses conditional
cash transfers (CCTs) to poor households that have been identified and agreed upon by
the beneficiaries. (Suazo, 2014)

According to Montilla, et al., (2015) on their journal entitled “Pantawid

Pamilyang Pilipino program (4Ps): Assistance to Pupil’s education”, 4Ps is a version of
cash transfer program here in the Philippines under the Department of Social Welfare
and Development, its aim is to eradicate extreme poverty in the Philippines by investing
in health and education particularly to children from 0-18 years old. The research
focused on the education of pupils with the 4Ps assistance. Thus 4Ps has significant
impact on pupil’s education based on its beneficiary conditionalities, is able and
motivated to attend classes because of adequate school supplies, satisfied meals,
parasitic free stomach and supportive and active parents.

This journal is related to the present study because readiness on the

satisfactory level of this program to the pupils from poor families in the said school. With
the use of a rating scale, questionnaires and interview guide, it was revealed that pupils
very satisfactorily benefit from the assistance given by the 4Ps in terms of Health and
excellent in terms of Nutrition and Education.

As stated on the study of Once, et al., entitled “Financial literacy and

satisfaction of beneficiaries to Pantawid Pamilyang Pilipino Program (4Ps): Evidence
from the poorest countryside areas of the Philippines” the study was ventured to verify if
the poorest communities in Samar, Philippines met the objectives and criteria of
Pantawid Pamilyang Pilipino Program (4Ps). This was done through profiling the
financial literacy of parent-beneficiaries and by determining the level of satisfaction in
the said program of both the parent and child beneficiaries. Using the survey
questionnaire as main instrument and employing quantitative approach in a form of
descriptive design with comparative analysis, it was found that 4Ps has served its
purpose in the identified research locale.

Based on the results of the above mentioned study, all the criteria of the
program had been met by the beneficiaries. The aimed of the program to give monetary
support to extremely poor families to respond for immediate needs is very efficient. In
fact, both parents and children beneficiaries are satisfied when it comes to the program
objectives to:

1. Alleviate poverty
2. Selection process
3. Clarity of implementation procedure
4. Frequency and thoroughness in monitoring
5. Transparency to prevent corruption
6. Understanding of the conditionalities
7. Compliance to implementation conditionalities
 8. Reactive monitoring
9. Opportunities provided
10. Increasing the beneficiaries’ enrolment
11. Survival
12. Attendance and participation in school

However, parent beneficiaries are struggling when it comes to financial

literacy especially in allocating budget for food, education, hospitalization or medicine
and savings. This underpinned that the government should provide other alternatives
such as livelihood and cooperatives to the beneficiaries to minimize dependence and
learn to properly handle money.

The researchers believe that the beneficiaries is learned to handling the

money through the other alternative said in journal.
Related Studies

Based on the findings of the study, the drop-out rate among the poorest
elementary and high school were decreased. The parents and pupils who are 4Ps
recipients attended regular participation in all school activities. On the part of
Department of Education, there is an increase of enrolment every school year. The
inconsistent results for older children between 13-17 years old (age as of 2011) the
majority of whom are outside the age cut-off for CCT education grant eligibility as
suggested by insignificant coefficients across specifications, could be explained by a
number of factors.

Direct costs may be incurred in the form of school fees, supplies,

transportation costs, and so on. For example, since there are less high schools than
primary schools, high school children are generally more likely to travel farther away
from the homestead to school, requiring households to spend more money on
transportation. As children grow older, the opportunity cost also increases as they could
earn money from working instead of studying in school. To address this issue, many
CCT programs (e.g., in Bangladesh, Brazil, Mexico, 30 Honduras, and Turkey) provide
larger cash transfers to older children to compensate for the higher implicit/explicit cost
associated with schooling.

Furthermore, the estimated CCT impact varied depending on the

number of school children in the household, with positive impacts among young children
in small households. As discussed earlier, basic DD suggested a 7 percent increase in
school enrolment among the sample of younger children from beneficiary households
with three or fewer school-aged children.

The economic status significantly affects their levels of academic

achievement. However, residing in a first class municipality does not guarantee high-
paying permanent jobs or non-permanent jobs to working members of both non 4Ps-
and 4Ps families. Some students from low income have difficulties to understand or
learn as fast as others. Their stressful lives may also affect their grades because the
children’s arte left on their own and no one cares about their success are failure in
school (Jensen, 2013)

Students, in non 4Ps families have significantly higher daily allowance

compared to 4Ps recipients. In terms of income, without the cash grant, each person
from 4Ps families had about PhP7,740 to cover his/her expenses for entire 6 months.
On the average, students in non 4Ps families recorded and average attendance of
62.8% compared to 60.70% among 4Ps beneficiaries, both lower than the 85%
requirements. Lower school attendance among 4Ps beneficiaries maybe associated
with the number of factors hunger, distance of school from home (Valeroso, 2012) and
allowing children in high school to work to earn income for their families (Maligalig and
Albert, 2008).

The comprehensive quantitative impact evaluation currently underway

will provide more robust evidence on the impact of the CCT program, based on data
collected from a much larger sample size and information collected on a vast range of
issues. This study was conducted to serve as a rapid assessment of the Pantawid
Pamilya focused on school enrolment, while waiting for the comprehensive impact
evaluation (Chaudhury and Okamura, 2012).

This shows that the Pantawid Pamilya Pilipino Program (4Ps) is

instrumental in sending all student’s to the next higher level of education. This explains
that if a student’s is 85% absent or more of the monthly school days, they will not be
given the allotted educational grant for that month. It strengthens the supposition that a
better attendance leads to better academic time and better learning. And it shows that
the 4Ps has a big impact to the academic performances of the students. And it has a big
help for the development of the recipients in terms of education.

Synthesis of the State of the Art

Researchers on Related Literature presents the CCT program to

decreasing the drop-out rate among the poorest high school and teachers must aware
on the program. 4Ps is a version of cash transfer program under DSWD, it aims is to
eradicate extreme poverty by investing in health and education. The students motivated
to attend classes because of adequate school supplies, food, and active parents. Many
have studied about increasing of enrolment every school year. And it has a big help for
the development of the recipients in terms of education.

Gaps Bridged by the Present Studies

The researchers review of Related Literature and Studies has been

made, it was observed that the current studies were focused on the drop-out rate
among the poorest elementary and high school were decreased including the tracer
studies of some students from low income have difficulties to understand or learn as
fast as others. It is for the reason that it is the way of bridging the perceived thing in line
with the financial literacy of the 4Ps beneficiary to be able to enhance the knowledge
and skills that can be used as a weapon in handling or budgeting their money.

The researchers also will find out if the beneficiary of 4Ps in SHS of
Calatagan High School are good in budgeting their money. We will also find out if these
4Ps beneficiary have a good grades in their academics. By the use of questionnaire,
this will make a gap-bridge to the present study.

Conceptual Framework

This portion of the research will present a visual representation of the

process to obtain required information as well as presenting the final output of the study.
It will cover the required resources to obtain the said information and to visualize the
final output of the study.

 Gathering opinions from 30 respondents specifically grade

12 students of Calatagan High School.

INPUT

 The researchers will conduct an interview (Research

Questions) to obtain variety of answers that will satisfy the
set of questions proposed during the study. After that, the
PROCESS researchers are going to analyse and interpret the data.

 To construct a conclusion regarding the level and impact of

financial literacy in the 4Ps beneficiary among grade 12
OUTPUT students of Calatagan High School.
 Chapter 3

RESEARCH DESIGN AND METHODOLOGY

This chapter discusses the research design, sources of data and procedure
undertaken in gathering them, instrument used in gathering data, statistical tools and
gathered data.

Design in Study

This study used the descriptive method utilizing a questionnaire as the main data
gathering. It is the plan according to which we obtain research participants (subject) and
collect information from them. In it, we describe what were going to do with the
participants with a view to reaching conclusions about the research problem (research
questions). This research investigated the level and impact of financial literacy on the
4Ps beneficiary among the SHS students in Calatagan High School.

Sources of Data

The primary source of this study is the questionnaire about level and impact of
financial literacy on the 4Ps beneficiary given by the researcher to the SHS students
and the data collected from the advisers of SHS students. The data obtain consist of the
results of the SHS students in the survey and also the student’s profile/background
which is consist of their section, age, gender, parent’s occupation and received cash
from 4Ps.
Sampling Procedure

In this current undertaking, researchers gather the total number of 4Ps

beneficiaries among each strand of grade 12 senior high school. After the total
population gathered, researchers will use slovins formula in order to gather the specific
number who will become a sample of the study. The respondent will be gathered from
the strand of Science Technology Engineering and Mathematics (STEM), Accountancy
and Business Management (ABM), Humanities and Social Sciences (HUMSS) and
Technology Vocational Learning (TVL) will be the participants to undergo series of
survey to be able to gather data and information that will be useful in making this study
successful.

The researchers used the Slovin’s Formula to determine the sample size, which
is:

where n is the sample size needed, N is the population size, and e is the margin of
error. According to Taherdoost (2016), the higher the sample, the less likely it is that the
findings will be biased. When sample size exceed a certain size, however, diminishing
returns will quickly set in. Thus, determining the right sample size minimizes the rate of
sampling error.

Instrumentation and Its Validation

The researchers will be utilized a questionnaire in determining the level and

impact of financial literacy among 4P’s beneficiary of SHS students of Calatagan High
School. The survey-questionnaire will be divided into two (2) parts. Part 1 of the
questionnaire will be the level of financial literacy among 4P’s beneficiary of SHS
students of CHS in terms of financial knowledge, financial attitude and financial skills.
While the 2nd part deals with impact of financial literacy among 4P’s beneficiary of SHS
students of CHS in terms of budgeting and investing.

Data Gathering Procedure

The researchers ask permission from advisers of every strand though a written
request to allow their students who is beneficiary of 4Ps to be a respondents in this
study.
 The researchers was use the time allotted for vacant to avoid distraction of class
discussions. The respondents will be given enough time to answer the questionnaire.

Method of Data Analysis

This research used hypothesis testing to collect data that signified a relationship
between dependent and independent variables. The type of investigation used was the
correlation method. The researchers will utilize the use of Pearson’s Product Moment
Correlation Coefficient in order to know whether there is a significant relationship
between the two variables in order to determine if the hypothesis will be accepted or
rejected.

Statistical Treatment of the Data

As soon as the researchers gathered the data, they were compiled, sorted, and
organized. They were subject to statistical treatment in order to answer the questions
proposed in study. Pearson correlation coefficient are using to measure the relationship
of two variables.