Grade 11 Senior High School

UBOS UBOS BIYAYA MAMAYA NAKATUNGANGA:

BUDGETING STYLES OF SHS STUDENT

AT STI COLLEGE LUCENA

Submitted to the Faculty of

STI Academic Center Lucena

In Partial Fulfillment of the Subject

PRACTICAL RESEARCH 1
Senior High School Department
STI College Lucena

To:
Baustista, Haziel R.

By:
Alcaraz, Ma. Noreen C.
Bernabe, Jella Gelwin R
Capistrano, Althea Joy V.
Capistrano, Clare Joyce T.
Diaz, Jasmin Cassandra H.
Dinglasan, Shania Flor O.
Panuncio, Junelou R.
Trinidad, Maerah Azumi

March 2023

STI COLLEGE LUCENA

 Grade 11 Senior High School

TABLE OF CONTENTS

CHAPTER I – THE PROBLEM AND ITS BACKGROUND

Background of the Study......................................................................................................1-2
Statement of the Problem........................................................................................................3

Scope and Limitation..............................................................................................................4

Significance of the Study.....................................................................................................4-5

Definition of Terms................................................................................................................5
Theoretical Framework..........................................................................................................6
Conceptual Framework..........................................................................................................7
CHAPTER II – REVIEW OF RELATED LITERATURE AND STUDIES
Related Literature...............................................................................................................8-10
Related Studies.................................................................................................................10-12
CHAPTER III – RESEARCH METHODOLOGY
Research Design....................................................................................................................13
Research Locale....................................................................................................................13
Research Population..............................................................................................................14
Research Instrument..............................................................................................................14
Data Gathering Procedure.....................................................................................................14
Statistical Treatment of Data.................................................................................................15
 Grade 11 Senior High School 1
CHAPTER I

THE PROBLEM AND ITS BACKGROUND

Introduction

Budget according to George R. Terry “A Budget is an estimate future needs arranged in an

orderly basis, covering some or all of the activities for a definite period of time”. The process of
making a spending plan is known as budgeting. Budget refers to this plan for spending money.
Making this spending plan enables you to estimate your financial situation in advance and decide
whether you will have enough money to accomplish your goals. (My money coach, 2023)

The amount of wealth and resources that a nation has to offer affects the budgeting process
greatly. The most prevalent budgeting technique is revenue budgeting when the country is
underdeveloped, but the environmental conditions are predictable and consistent. The budgeting
process involves repetitive budgeting when money, or a country that is impoverished and has an
uncertain environment, is lacking. As a result of shifting circumstances, scarce resources, and poorly
thought-out tactics, repetitive budgeting is a prevalent problem in developing nations. (Management
study guide, 2022).

Only during the budget preparation phase, which is close to the end of the fiscal year, does the
management team's focus turn to strategy. There is no formal obligation to revisit strategy for the
remaining months of the year. With no framework in place to properly analyze the situation and make
changes, a company will be at a disadvantage to its nimbler competitors if a fundamental shift in the
market occurs soon after a budget has been prepared. (Accounting tools, 2022)

Kakeibo, which translates to "household account book," tries to physically document a

person's spending patterns. You start by establishing savings objectives and responding to basic
monetary queries. Then, at the end of each month, you examine your activities, record your spending,
and group your purchases into categories. Kakeibo, a proven method of budgeting money, is a notion
from Japan. Kakeibo is a sensible strategy for saving that is based on the notion of deliberate and
thoughtful spending. According to estimates, Kakeibo can help you reduce your monthly spending by
up to 35%. (Finio Loans, 2021)

Grade 11 Senior High School 2

In the Philippines, using the capital budgeting approach, the various government agencies
would compile and submit their individual comprehensive budget estimates that rank programs,
projects, and activities. The agencies then defend their proposed budgets in front of the DBM
technical panels during budget hearings. The proposed budget is examined and approved by the
President and the Cabinet following the submission of proposed expenditure programs by the relevant
agencies and the subsequent approval by the DBCC. The President then sends Congress the proposed
budget. ( Rappler, 2022)

To assist the implementation of numerous programs and initiatives that best advance the
development of the nation, it gives the government the ability to plan and manage its financial
resources. The Sangguniang Panlungsod's second reading was presided over by Vice Mayor Philip
Castillo, while the discussion on the LGU Annual Budget for Fiscal Year 2022 was heard by the
chairperson of the Committee on Appropriations under Councilor Anacleto Alcala III. This comes
after each department head thoroughly discussed and defended their separate budgets, especially
those related to their staff, overhead expenditures, and other office-related charges. (Bandilyo.ph,
2021) The appropriations committee and the relevant House subcommittees hold budget hearings for
each department or agency to examine the specifics of the proposed programs and projects. The
General Appropriations Bill that the House body passed incorporates the revisions made by the
House. (Rappler, 2022)

The various ways to cut costs or save money. Make a budget; it will enable you to plan for
expenses and prevent wasteful spending. Establishing goals can help you plan ahead for the things
you're saving for, which is a crucial component of a savings strategy. Some seniors in high school
might desire to put money aside. They will gain from it not only by being able to meet their needs
while attending school, but also by becoming better equipped to manage their money. A budget can
give you a sense of financial control and make it simpler for you to save money for your objectives.
Keep track of your spending. Keeping track of and categorizing your outgoing costs will help you
figure out where you are spending the most money and where you could have the most room for
savings. Make a list of your short- and long-term financial goals before you begin sorting through the
data you have gathered. Regularly review your budget. Once your budget is established, it's crucial to
regularly check it and you're spending it to make sure you remain on track.

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Statement of the Problem

This study aims to identify the budgeting for senior high school students of STI College
Lucena.

Specifically, the study aims to answer the following:

1.What are the budgeting styles of senior high school students?

2. How does budgeting can affect students?

3. What recommendation can be made to improve students budgeting style?

 Grade 11 Senior High School 4

Scope and Limitation

The main purpose of the study is to come up with the information regarding to different
budgeting styles and how budgeting styles assist the expenses of the students, this study contemplates
the personal information of the students name, age, gender, and strand.

The researchers limited the study to randomly selected students enrolled in the second
semester of school year 2022-2023 of STI College Lucena. Each of the respondents was given a
questionnaire to answer. The students selected came from different strands to prevent bias and get
objective perceptions.

Significance of the study

This study seeks to give an insight about the budgeting styles of an ABM students at STI
College Lucena City. The outcome of this study will benefit the following:

To the Students. The source of information and direct participants of the study will garner the

most advantages. The information gathered from the study can help the students about the importance

of budgeting in their everyday life. This study will also supply them with new and more knowledge

regarding to the said topic.

To the Teachers. To identify the factors that affect teachers' budgeting practices. To evaluate
the impact of budgeting on teachers' financial management.

To the School Administrator. This study benefits the school administrator, in a way it can
help the school administrator to identify areas where cost savings can be achieved. By carefully
analyzing the school's expenses and revenue, the administrator can identify areas where costs can be
reduced without negatively impacting the quality of education provided to students. Provide targets
for growth, improved focus based on facts, manage cash flow more efficiently, monitor performance
and progress, allocate resources more appropriately and troubleshoot financing problems.

Grade 11 Senior High School 5

To the Researchers. This study will benefit the upcoming researchers/s and all people who
are interested in studying or adding their knowledge of how this study affects the daily life of people.
They can easily acquire the idea and methods on how budgeting style works. With the different styles
that are included in this research it is easy now to budget money.

Definition of Terms

To better understand the terms used throughout the study, this part of the research paper
presents the definition of the following terms:

Budget Styles. It is a way of saving money and identify if the money of the respondents will
be enough for the future expenses

Style. It is a different way, technique or methods that is used by the respondents to perform
budgeting.

Senior High School/SHS students. This refers to senior high school students enrolled in the
first grade of senior high school at STI College Lucena who will be the respondents of the study.
 Grade 11 Senior High School 6

Theoretical Framework

In order to prove that the researcher's study “Ubos Ubos Biyaya Mamaya Nakatunganga:
Budgeting styles of SHS student at STI College Lucena” is feasible, the researchers provided an
existing theory that correlates with the given study.

According to Motivational Theory developed by Kay Hofstede in 1967, indicates that senior
highschool students need to be motivated in order to save or budget their allowances. The idea also stated that
in order to drive yourself to stick to your budgeting plan, you must have a specific objective before you start
saving. Claims that the budget planner adopts a wider perspective during the entire budget planning
process as opposed to the costing phase. Each stage of a project requires specific resources, such as
labor availability or funding sources, which must be identified. A budget planner also examines the
cost components for various project components and determines how they connect to one another.
This can aid in locating potential redundancies and bottlenecks.
 Grade 11 Senior High School 7

Motivational Theory
( Kay Hofstede,1967)

Specific Ojectives
(Kay Hofstede,
Funding Sources 1967) Costing Phase
(David Carnis, 2017) (David Carnis, 2017)

Budget Planning
Process
(David Carnis,
2017)

Figure 1: Motivational Theory

Relating to the study, this theory proves that students need to be aware and motivated on doing
budgeting plan and how these strategies could assist financial expenses, this is also implies to the study that
we conducted, different budgeting strategies that can be use. When students have a budget plan or process,
they are often more motivated to try to achieve their goals. By setting clear and defined targets based on the
budget, students understand what is expected of them and can therefore feel more motivated.

Grade 11 Senior High School 8

CHAPTER II

REVIEW OF RELATED LITERATURE AND STUDIES

The researchers have analyzed relevant sources in order to more vividly convey the nature of
the problem. This section provides descriptions of relevant works by both international and local
writers along with the unpublished studies that significantly influenced the direction of this research
problem.

Related Literature

According to Tri Artharini, Nungki Noor, Susanti Oktaviani, Cris Kuntadi (2022) Leadership
Styles, Communications, and Resources Affecting The Development of E-Budgeting In The Public
Sector. The use of e-budgeting, the leadership style, communication, and resources all have an impact
on how it is implemented in the public sector. Communication affects how well e-budgeting is
implemented, in a way that if it's not discussed properly there could be a possible chance of
misunderstanding, and resources have an impact as well, resources have a big impact in budgeting
such as it cannot perform a budgeting if there are no resources.

This statement is significant to the study since it presents how budgeting affects the
development of E-budgeting in the public sector.

According to Aman Khan (2019) Understanding the Budget Process. Budgeting is a

continuous process with several discrete phases. However, several state and local governments
diverge from the standard of twelve-month fiscal years. The preparation of biennial budgets for two-
year execution saves the government money by eliminating the need for yearly meetings. With a brief
history of budget formulation at the federal level, the current procedure has developed through time
and has a considerable impact on how budgeting is carried out at the subnational level.

This statement is significant to the study since it shows the impact of how budgeting is carried
out at the subnational level.

According to Rey Fernan Refozar (2019) The Financial Behavior of College Students in a Private
Academic Institution in the Philippines. The process of creating a budget is ongoing and involves
several distinct stages. Although most state and municipal governments stick to the standard of
twelve-month fiscal years, there are several that do not. The government saves money by avoiding the
additional expenses of holding annual meetings when biennial budgets are prepared for execution
over a two-year period. Budgeting at the subnational level is significantly impacted by the current

Grade 11 Senior High School 9

procedure, which has developed over time with a small history of budget formulation at the federal
level.

The statement above is significant to the present study since it entails the process and stages of
budgeting used by government.

According to Tamiki Hara (2019) Defeating a Political Dynasty: Local Progressive Politics
through People Power Volunteers for Reform and Bottom-up Budgeting Projects in Siquijor,
Philippines at the federal level, the Aquino administration was unable to provide positive
achievements during its tenure. However, numerous political movements and legislative changes that
came about with the administration led to a notable shift at the municipal level. The Liberal Party and
its allies, Akbayan, evaluate the circumstances that led to this transition by concentrating on the work
of People Power Volunteers for Reform, the effects of bottom-up budgeting initiatives, and the
mobilization of the national government's resources through interpersonal connections.

This statement is significant to the study since it presents the effects of budgeting in
government.

According to C Réka, P Ştefan, C Daniel (2014) Traditional Budgeting Versus Beyond

Budgeting. Since 1920, budgets have played a significant role in the corporate world. They are seen
as vital planning and control tools as well as the primary drivers and judges of managerial
performance. The most effective weapon for management control is the budget. Because it can
provide top management with more power and authority while limiting the autonomy of lower-level
managers, the budget can be a crucial factor in the organization's power dynamics.

The statement above is significant to the present study since it entails the effectiveness of
budgeting.

According to Joseph Capuno, Ana Maria Ruiz Rivadeneira, Ivor Beazley, Akiko Maeda, Chris
James (2018) Health financing and budgeting practices for health in the Philippines. Recent years
have seen a significant rise in the amount of government money allocated for health thanks to
increasing levies on alcohol and cigarettes. If the extra money is used wisely, it has a significant
potential to increase access and health outcomes. A robust budgeting procedure for health is a crucial
prerequisite for efficient spending. At the national level, the Philippine government has implemented
a comprehensive set of public financial management reforms that apply to all sectors in terms of
budget preparation and planning.

Grade 11 Senior High School 10

The statement above is significant to the present study since it indicates the use of budgeting
in public.

According to Pia Daniella L Martinico, Demi Mariel M Pineda, Loriemay E Lamayan, Jofel
Jay G Macapas, Marvin B Lucero, Analyn Magalso (2019) Proper Budgeting of Selected Grade 12
ABM Students: Basis for proposed Guidelines in Handling Allowance. Money is a significant aspect
of everyone's life since everyone has at least once had the experience of seeing and holding it. People
depend on money to meet their basic requirements, such as food, water, and clothing. Given that they
are students, their allowances should be carefully budgeted and distributed according on how much
they get each day that they attend class, especially for those who receive allowances of at least 100
PHP. This was done to find out if the chosen Bestlink College of the Philippines grade 12 ABM
students knew how to handle their allowance properly and to assist them if they didn't. According to
Rachael Moralde, Ronnel Ubungen, Kenneth Armas (2018) Revisiting the Bottom-Up Budgeting
process in the Philippines: Issues, findings and recommendations. The Bottom-up Budgeting (BuB)
strategy was developed.

The statement above is significant to the present study since it indicates how budgeting affects
the grade 12 ABM students.

Related Studies
 According to Lekha Chakraborty (2016) Asia: A survey of gender budgeting efforts. Gender
budgeting is a fiscal innovation that translates gender-related goals into budgetary commitments,
helping countries achieve Sustainable Development Goals. India has a sustainable model, while the
Philippines and South Korea have legislative mandates that are contributing to their efforts.

This statement is significant to the study since it indicates the gender budgeting efforts.

According to J. Myanmar Acad. (2020) Budgeting habits are important for every person. How
well they handle their own finances may be a good predictor of how effectively they would manage
the finances of their employer when employed. This research aims to examine the spending patterns
of first-year economics students at Yangon University. It also shows that students who have saved
money often use it to pay for additional school expenses. They set goals for themselves as well in
order to improve their motivation to save money.

The statement above is significant to the study since it illustrates how everyone manages their

finances.

Grade 11 Senior High School 11

According to Kanting Thobejane, Olawale Fatoki (2017) Budgeting and spending habits of
university students in South Africa, they conducted a study that examines the different spending
habits of university students at a South African university As a result Female students are more likely
to spend more than male students to have a budget.

This statement is significant to the study since it shows the budgeting habits of students.

According to Ronel Dagohoy (2021) Capabilities and Difficulties of Barangay Officials on

Local Budgeting Process. Barangay authorities in the Philippine province of Davao del Norte's
Municipality of Santo Tomas discussing the local budgeting process. The study revealed those
processes for planning, approving, carrying out, and reporting. It also showed a big gap between the
degree holders and non-degree holders in barangay officials' capacity for local budgeting.

This statement is significant to the study since it presents the process of budgeting in local.

According to John Lenard Arcangel (2019) Budgeting is a task that everyone must do to be
able to check and assess their spending and how they spend their money. The study discovered
students' spending patterns and budgeting habits. Students spend a large portion of their allowance on
various school costs, including their homework, projects, papers, activities, and handouts.
Additionally, they place a high focus on their travel costs to and from school and home.
 This statement is significant to the study since it determines how they spend their money

According to Stephan Thomsen, Friederike von Haaren-Giebel (2016) Did tuition fees in
Germany constrain students’ budgets? New evidence from a natural experiment Researchers
examines the financial implications on students, although previous research has shown little impact
on enrolment. We took advantage of the natural experiment created by the imposition of fees to
determine causal effects.

This statement is significant to the study since it indicates

According to Marilou P Pascual (2022) Low-Income Earners of Nueva Ecija: Their Budgeting
and Decision-Making before and during the Covid-19 Pandemic. In this study, low-income earners'
spending and decision-making patterns in Nueva Ecija, Philippines, were compared before and after
the COVID-19 outbreak. The findings indicated that the most important variables in determining
when and how much to spend were daily money and the costs of products and services.

This study evaluated the spending and decision-making habits of low-income earners, before
and after the COVID-19 outbreak.

Grade 11 Senior High School 12

According to, Aimee L Franklin, Carol Ebdon (2020) Participatory budgeting in the
Philippines. Participatory budgeting has been adopted and adapted by governments around the world,
but its impacts on individuals, groups, and society vary. This study uses the case of the Philippines to
explore the differences in impacts. Gains in individual education, representation of marginalized
groups, and government accountability were seen, but civil society and democratic legitimacy were
weaker. Additionally, According to A Szczepańska, M Zagroba, K Pietrzyk (2022) Participatory
budgeting as a method for improving public spaces in major polish cities. Local communities
participate in the allocation of public resources through civic budgeting. Public space-related budget
records from Polish cities were examined in this study. Results uncovered variety in urban
commitment and neighborhood needs, which can be utilized to foster rules for planning public spaces.

The statement above is significant to the study since it explains how budgeting has different
effects on people, communities, and society.

According to Ahyar Amir (2022) Public Policy Implementation: Study on Educational

Budgeting of Palopo. The moderating role that the personality trait of locus of control plays in the
relationship between management performance and involvement in the budget. Budgetary
participation was found to be beneficial for those who believe they have a lot of control over their
future as well as those who believe their fates are determined by chance. In additional, According to
Sun-Moon Jung (2022) Participatory budgeting and government efficiency: Evidence from municipal
governments in South Korea. The civil government in South Korea is around an obligatory
participatory planning reception period, in the wake of figuring out that participatory planning
selections are trailed by progress in numerous elements of government effectiveness. The ongoing
review proposes that participatory spending plan frameworks not just add to quality in that frame of
mind earlier examinations have found, yet additionally work on money.

Grade 11 Senior High School

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CHAPTER III

RESEARCH METHODOLOGY

In this chapter, the researchers discuss the research methodology of the study. The approach
utilized in the research, the study design and locale, research instrument, data gathering procedure and
statistical treatment of data are described. This chapter features the processes and procedure used
towards the development of the study.

Research Design

This research is using case study qualitative research design because the researcher conducted
research about the budgeting strategy of the SHS student at STI College Lucena. Case study, helps
demonstrate how the many components of your company interact. They draw attention to a challenge
and demonstrate the advantages of the adopted solution. They may also contribute to more extensive
study. Other theories and approaches may come to light as you investigate and evaluate new concepts
(Jeremy Aschenbrenner, 2022). Using case study to collect the data that is needed to the conducted
study makes it easier to compare, evaluate and understand the different aspect of the gathered data.

Research Locale

The research is conducted at STI College Lucena wherein Senior High School students
present and currently enrolled in the school year 2022 – 2023 are the respondents of the study. STI
College Lucena is located at the center of Lucena City Proper and is one of the recognized private
schools in Lucena City.

This study aims to know what are the difficulties and struggles in budgeting their allowance
that respondents encountered. STI College Lucena is one of the private schools in Lucena City. In
terms of population there are almost 1500 senior high school who are currently enrolled in this school
and the population is Senior High school students. The researcher chooses one student each strand to
conduct research, there are 7 Senior High school strands at STI College.

Grade 11 Senior High School

14

Research Population

This study aims to know what are the difficulties and struggles in budgeting their allowance that respondents
encountered. STI College Lucena is one of the private schools in Lucena City. In terms of population there are
almost 1500 senior high school who are currently enrolled on this school and the population is Senior High
school students. The researcher chose one student each strand to conduct research, there are 7 Senior High
school strands at STI College. The researcher conducted a survey each strand. In the Science, technology,
engineering, and Mathematics STEM strand one (1) male are survey from the section of STEM 121. In the
Humanities and and Social Sciences (HUMMS) strands, one (1) female are surveyed from HUMMS 211. In
Accountancy, Business and Management (ABM) one (1) male are surveyed from ABM 221. In the Tourism
Operations (TOPER) one (1) female surveyed from TOPERS 221. In the Strands of Culinary Arts (CA) one
male surveyed from Culinary Arts 121. In the Strand of Information and Communication Technology Digital
Arts (ICT-DA) one (1) female surveyed from the section of DA. In the Information Communication
Technology in Mobile App and Web Development (ICT-MAWD) one (1) male surveyed from MAWD 121.

Research Instrument

An interview was written list of questions that were answered by the participants or use to questioner, A focus
group of discussion will conduct a further validate to the responses of the students in order to identify the
different budgeting strategy. There are seven (7) strands from grade 11 and 12 students of STI COLLEGE
LUCENA. To stratify or subdivide the population, stratified sampling was used. With relation to the collision
they are in. It will include all of the initially strands. STEM (Sciences, Technology, Engineering, Mathematics)
Strand. ABM (Accountancy Business, And Management) Strand HUMSS (Humanities And Social Sciences.)
Strand CUL ( Culinary ARTS) Strand. Toper (Tourism Operation) Strand. MAWD (Mobile App And Web
Development) Strand. With the total of 1 representative each participant that will be source of the data that will
be used in the study. The participants will be described according to their demographic profile. A questioner

Data Gathering Procedure

The researcher conducted a study about the students budgeting behavior at STI College
Lucena. The researcher concludes the target participants then make the data gathering instrument that
will consist of a consent form and a semi structed interview guide. One approved by the research
adviser, the researchers can begin finding participants and conduct the interview. The data gathered
will be analyzed using the content analysis method. This method will be useful in interpreting how
students come up with their budgeting behavior. The data gathered will then be summarized to gain
the general idea based on the student's experiences.

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Statistical Treatment of Data

Statistical treatment of data is taking raw data and turning it into something that can be
interpreted and used to make decisions. After collecting data from their sample, they can organize and
summarize the data using descriptive statistics. Researchers conducted an interview in STI College
Lucena and most of the students find it hard to budget their allowance. Some of the students avoid
buying unnecessary things to save their allowance, it's their way to save money. It's their decision to
budget their allowance. Statistical treatment of data is to apply any statistical method to your data and
those statistical methods are mean, standard deviation, regression, hypothesis testing, and sample size
 determination, these statistical methods allow researchers to investigate the statistical relationships
between the data and identify possible errors in the study.

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