THE ASSESSMENT OF FINANCIAL

LITERACY AWARENESS
OF GRADE 12 ABM SENIOR HIGH SCHOOL
STUDENTS
Introduction

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BACKGROUND OF THE STUDY

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 Financial literacy is essential for individuals to make informed financial decisions and achieve
financial security. Financial literacy comprises the knowledge, abilities, and resources required to
manage finances successfully (Ali, 2013). Financial literacy includes understanding financial concepts
such as debt, investing, and saving, which can result in a sense of financial security and self-
confidence (McGurran, 2021). It is a lifelong learning process that includes a collection of attitudes,
behaviors, and information that is critical for making financial decisions (OECD, 2005).

Financial literacy is particularly crucial given the current expansion in private spending, which is rising
along with household earnings and economic growth (Putra, Handayani, & Ari, 2014). Financial literacy
involves making financial decisions, which require the ability to perform calculations, including some
sophisticated ones (Lusardi, 2012). In the Philippines, the majority of Filipinos lack a firm
understanding of money management, and the country placed in the bottom 30 of the 144 countries
surveyed in the S&P Rating Services Global Financial Literacy Study (BusinessMirror, 2022).

As Senior High School Filipino students, we incur higher costs than before, which may be due to
increased involvement in extracurricular activities, the requirement to buy books and other materials
for more challenging classes, and the potential need to pay for transportation or meals. The amount of
money given by our parents may vary, and it may barely cover our living expenses (Nolasco, 2016).
However, knowing the risks and responsibilities of financial decisions can help in making informed
choices and expanding financial skills to achieve financial well-being (Hani, 2021).

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Problem

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to measure the possess ability of the Grade 12 ABM students of GSC SPED- Integrated School, to

know the extent of their knowledge and skills they’ve adapted in financial decision-making and

effective personal financial well-being.

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METHODOLOGY

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This study aims to use a quantitative research design to investigate
the financial literacy of Grade 12 ABM students from GSC SPED- IS.
The research instrument used will be a self-administered
questionnaire that includes a combination of multiple-choice and
open-ended questions to measure the financial literacy of the
participants.

The multiple-choice questions will assess the students' knowledge of

basic financial concepts, while the open-ended questions will provide
an opportunity for participants to express their learnings and
behaviors toward financial literacy. The questionnaire will be pilot-
tested to ensure its reliability and validity, with necessary
modifications made before the full sample is administered.

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Data collected will be analyzed using descriptive statistics, such as
mean, standard deviation, and frequency distribution. The
questionnaire will be administered to the participants in a group
setting, with instructions provided to ensure that all participants
understand how to complete the questionnaire accurately and
effectively.

The researchers have dedicated time and effort to develop a

comprehensive questionnaire that covers various aspects of
financial literacy. The questionnaire will be reviewed by the
research adviser to ensure its validity and reliability. The study's
findings will provide insights into the financial literacy level of
Grade 12 ABM students and can be used to improve financial
education programs in schools.

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Locale of the Study

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This research was conducted in General
Santos City SPED Integrated School is
situated in Barangay San Isidro. The only
integrated school in the city is GSC SPED IS
Public Secondary School, one of the bigger
schools in General Santos City.

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Participants of the Study

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Respondents
Population Sample
(N) size (n)

Taclindo 51 34

Dumao 44 34

Gonzaga 49 34

TOTAL 144 102

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Data analysis

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 In a research study conducted by a group of researchers, one
hundred and two (102) students belonging to the 3 Class Section of
the Grade 12 ABM community in General Santos City SPED-
Integrated School Department (GSC SPED-IS) were selected as
respondents. To ensure the study's validity and reliability, We the
researchers utilized random sampling to determine which
participants would take part in the study.

we targeted a sample size of 34 participants, and they used the

referral method to randomly select participants until they reached
their target number. The referral method is a technique that involves
asking participants to refer others to participate in the study.

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Ethical Consideration

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The researcher considered both the study process and ethical
and moral issues when conducting the research. It is optional
to participate. Participants in this poll were requested to do so
willingly. Moreover, withdrawal of participation and refusal to
participate were considered without any repercussions. Also,
there will be no monetary or tangible reward for the
respondent's participation in the study for the researcher's
gain. Discretion and privacy. The Data Privacy Act of 2012 was
adhered to in the letter by the researcher.

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RESULTS AND DISCUSSION

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 TABLE 1
According to the table 4.1 on the daily average allowance of sections Taclindo, Dumao, and
Gonzaga showed varying percentages across different allowance range. The graph shows that
P100 to P200 pesos had the highest percentage of students receiving an allowance.

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 TABLE 2

Based on the data provided, it appears that a significant majority of ABM Senior High students in SPED IS save

less than half of their allowance. The two most common responses to the question "What percentage of your

allowance do you save?" were 20% to 40% and 10% to 20%, with 37 and 61 students giving these responses,

respectively. This indicates that most students are not saving a significant amount of their allowance and may be

spending it on other things such as leisure activities or expenses related to school. The mean values of 1.68 and

3.56 suggest that the responses are skewed towards the lower end of the range, with only a small percentage of

students saving more than 80% of their allowance

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 The provided data consists of a series of surveys conducted among ABM Senior High students regarding their
financial habits and behaviors. The surveys cover various topics such as saving habits, allowance sufficiency,
educational expenses, remaining allowance, comparing prices, and budget plans.
the data highlights the need for financial planning and management skills for ABM Senior High students to help
them manage their expenses effectively while in school. The findings may be valuable for parents, guardians, or
educators interested in educating students about the importance of making informed shopping decisions and
managing finances effectively.

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 TABLE 3
The provided data highlights the financial literacy levels of ABM Senior High students in various aspects such as
self-assessment, learned financial practices, confidence in managing finances, and familiarity with basic financial
concepts. The majority of the students rated themselves as having "Good" financial literacy skills, while the most
common source of financial education was found to be from their parents. Most of the students feel confident in
managing their finances, but some still lack confidence in this area.

The data presented offers insights into the financial literacy and habits of ABM Senior High students. The majority
of students have learned how to manage their allocated money, indicating that financial literacy is being prioritized
in the curriculum. However, there is still some variability in the responses, suggesting that not all students have
mastered the skills required for effective financial management. Furthermore, only a small percentage of students
have taken a class or workshop on personal finance, highlighting the need for increased education in this area.
While most students have a budget in place for managing their income and expenses, there is still room for
improvement in terms of equipping students with the necessary financial skills and habits to succeed in the future.
It is important to note that the sample size is limited and there may be potential biases in the responses, thus
further research may be necessary to gain a more comprehensive understanding of the financial literacy of ABM
Senior High students.

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Conclusion and Recommendation

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