Impact of Financial Literacy to the Spending Habits of Accountancy, Business

and Management Senior High School Students at Immaculada Conception

College

A Research Paper

Presented to the Faculty of Senior High School

Immaculada Concepcion College

In Partial Fulfillment

Of the Requirements for Practical Research 2

Name of Lead Researcher

Chiapco, Abby Lorreign

Members

Casimiro, Christna Mae

Galleposo, Jehiah

Tagalag, Benedict

Zafra, Jerome

November 2023
 APPROVAL SHEET

This research paper, entitled, Impact of Financial Literacy to the Spending

Habits of Accountancy, Business and Management Senior High School Students
at Immaculada Conception College in partial fulfillment of the requirements for
Practical Research 2, has been examined and is recommended for acceptance and
approval for ORAL EXAMINATION.

Ms. Jasmin Buergo

Adviser

PANEL OF EXAMINERS
Approved by the committee on Oral Examination with a Grade Point Average of
(numerical grade out 100%).

NAME OF PANELIST
Panel Chair

NAME OF PANELIST NAME OF PANELIST

Member Member

Accepted and approved in partial fulfillment of the requirements for Practical

Research 2 in November 2023.
 ACKNOWLEDGMENT
First and foremost, we want to thank the Lord, our Almighty God, for continuing
to give us blessings and guiding us during the times we are doing this research until we
successfully complete our research.

We, the researchers, would like to express our deep and sincere gratitude to our
research adviser, Ms. Jasmin Buergo; if not for her patience, teaching, and guidance,
we would not be able to succeed in our research. We would also like to express my
deepest appreciation to our panelists for their comments to better shape our research,
for their encouragement and their time, and to our beloved school, Immaculada
Conception College, we are very grateful for giving us the opportunity to conduct this
research and for supporting us to successfully complete our research. It is a privilege
and honor for us that we have done our study in this school.

We are extremely grateful to our parents for their tireless support, prayers, love, and
sacrifices throughout our research. to our friends and classmates for their support and
help in completing the research.

DEDICATION

This study is wholeheartedly dedicated to the people who stayed by our side, helped,
prayed, and supported us; if not for them, we would not have been competent to
succeed in our research.
to our parents for supporting us and giving us the strength to finish this research.
to Ms. Jasmine Buergo, our mentor, and to the teachers of Immaculada Conception
College who taught us and gave us courage.
to our friends and classmates who also showed their support and help.
To Immaculada Conception College which gave us the opportunity to conduct this
study.
and above all to the Lord, our Almighty God, who guided and gave us a broad mind to
successfully complete our research.

TABLE OF CONTENTS
Page
TITLE PAGE
ABSTRACT
APPROVAL SHEET
ACKNOWLEDGEMENT
DEDICATION
TABLE OF CONTENTS
LIST OF TABLES
LIST OF FIGURES
Chapter
1 THE PROBLEM AND ITS BACKGROUND
Introduction
Background of the Study
Statement of the Problem
Hypothesis of the Study
Scope and Delimitation of Study
Significance of the Study

Chapter
2 REVIEW OF RELATED LITERATURE AND STUDIES
Review of Related Literature
Review of Related Studies
Synthesis of the Reviewed Literature and Studies
Theoretical Framework
Conceptual Framework
Definition of Terms
Chapter
3 RESEARCH METHODOLOGY
Research Method
Research Design
Population and Sample of the Study
Sampling Technique
Locale of the Study
Research Instrument
Validation of Research Instrument
Data Gathering Procedure
Statistical Treatment of Data
Chapter
4 PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA

Chapter
5 SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS
Summary of Findings
Conclusions
Recommendations

Bibliography
Appendices

LIST OF TABLES
Table Page

1. Name of Table #1
 2. Name of Table #2
3. Name of Table #3

LIST OF FIGURES
Figure Page

1. Figure #1
2. Figure #2

Chapter 1

THE PROBLEM AND ITS BACKGROUND

This includes the introduction, background of the study, statement of the problem, the

hypothesis of the study, scope, and delimitation of the study, and significance of the

study.
 INTRODUCTION

Today's generation is very different from before, the youth were happy if they were

given five or ten pesos, now when you give that amount to the youth today they will

complain. In today's time when prices are increasing, students' expenses are also

increasing, there are other students who do not see the value of money, buy here buy

there, as if they do not doubt the price of what they buy, because maybe they lacked in

learning how to spend money, the correct spending of money.

In 2022, 87% of teenagers claim they do not fully comprehend their personal

economics, according to Forbes. Programs that promote financial literacy are

unquestionably necessary. More than a third of states have financial education

requirements, and many more have pending legislation.

Understanding of budgeting, investing, saving for retirement, and retirement planning

are all included in financial literacy. These abilities include the capacity to effectively

find, assess, and utilize data, resources, and services as well as the capacity to decide

wisely regarding financial commitments, budgeting, credit, debt, and future planning. In

order to help students acknowledge the value of money, financial literacy is crucial. If

students do not understand the value of money, they will not be able to manage their

finances effectively, which could have an impact on their academic performance or

prevent them from pursuing higher education. Anxiety, depression, low performance in

school, health issues, and difficulty persevering toward degree completion are all

negative effects of financial stress.

The students who have a problem with financial literacy are recommended to do a

daily budgeting plan to minimize and monitor their expenditures. Tracking ones’
spending is also important to get an accurate picture of your financial situation. Be wise

when spending money because no matter how little or how much money you have,

spending it wisely is a good idea. Avoiding impulse buying and planning purchases in

advance is also a great idea for the students to save money and at the same time be

financially literate.

Background of the Study

Basic financial concepts that someone has learned on their own and from different

institutions make up their knowledge base. This then affects how they act when it

comes to money. The spending habits are influenced by how they perceive this

fundamental financial concept. Their behavior can be affected by a variety of variables,

including their sex and age. Gender affects how people make decisions because

individuals of various sexes have different traits and characteristics. Age is another

factor that significantly affects actions because as people age, their needs and

preferences change.

Understanding and being proficient in the use of different financial skills, such as

saving, budgeting, and personal finances, is known as financial literacy. For someone to

make better financial decisions and avoid issues like low savings and failing debt and

loan management, they must learn and understand the basics of finance.
 According to Aina Caplinska & Anila Ohotina 2019, Researching the standard of

financial literacy among younger adults is important because those with the greatest

amount of financial literacy tend to be those who could contribute more to the state

economy. Students who learn about money management can better appreciate the

importance of money.

Early planning, saving, and investing education increases students' likelihood of

making wise financial choices in the future. They can stay out of debt and limit their

spending thanks to this information. In order for students to utilize financial management

both in the real world and after graduation, it is imperative that they receive a solid

foundation in the subject. With a plan, you can manage your expenses and determine

how much you want to spend based on your needs. A student's family has a big

influence on how they spend their money.

Family members have a big influence on the choices of things you buy and use. A

person's buying habits are influenced by their lifestyle. As a rule, we observe and imitate

the spending behavior of our parents and other family members. Parents have a great

influence on how their children develop. Children's positive and negative spending

behavior is influenced by their parents' spending behavior. Socialization factors,

including peer groups and family, affect people's attitudes toward money.

The information and abilities needed to make wise choices regarding budgeting,

investing, money management, and other financial issues are referred to as financial

literacy. Early financial literacy development is essential for people because it enables

them to make appropriate spending decisions and manage their personal resources. It

is anticipated that students majoring in accounting, business, and management will

work in the financial and business sectors. For this reason, their future success

depends on their comprehension of financial ideas and their capacity for personal

money management.

Statement of the Problem

This study aims to determine the Impact of Financial Literacy to the Spending Habits of

Accountancy Business and Management Senior High School Students at Immaculada

Conception College, it specifically addresses to answer the following questions;

1. How can financial literacy help you as a student?

2. What is the students’ level of spending in terms of:

2.1 Personal needs

2.2 Academic purposes

2.3 Food

2.4 Transportation

3. What are the factors affecting spending behavior?

4. What is the significant effect of Financial Literacy on spending habits of Accountancy,

Business and Management Senior High School Students at Immaculada Concepcion

College
Hypothesis of the Study

The hypothesis of the study is what the researchers expected to happen and the

expected result of the study.

H0. There is no relationship between financial literacy and spending habits of

Accountancy Business and Management Senior High School Students at Immaculada

Conception College.

Scope and Delimitation of the Study

Senior High School Students specializing in Accountancy, Business, and Management

(ABM) Academic Year 2023-2024 served as the research sample at Immaculada

Conception College. The researchers will use a close-ended survey to gather data.

Findings from this study will be used to better understand these students' financial

literacy and spending habits, especially those from the ABM Senior High School

Students at Immaculada Conception College.

The respondents evaluate their spending habits in terms of their personal needs,

academic purposes, food, and transportation.

Significance of the Study

This study aimed to obtain valuable information about the financial practices and

spending habits of accounting, business, and management students at Immaculada

Conception.

Thus, the result will benefit:

Students. The study will help students develop essential financial skills and knowledge,

allowing them to make informed decisions regarding their finances from an early age.

This will equip them with the necessary tools to manage their money effectively and

avoid financial pitfalls later in life.

Parents. They will acquire a greater understanding of money management,

encompassing efficient budgeting, money-saving techniques, and the establishment of

financial objectives. This will significantly alleviate the burden of financial stress.

Teachers. This study is significant for them to know the budgeting practices of the

students regarding the projects. It can help them to inform students about their spending

habits and guide them along the way.

Institution. This study will help them expand their knowledge about financial literacy

and spending habits. Also this study will open their minds about financial literacy and

spending behavior.
Future Researchers. This research can be used by future researchers in their new

study as their reference when they choose the study related to this. Future researchers

can also investigate more into particular factors influencing spending patterns in various

domains.

BIBLIOGRAPHY

Forbes Finance Council (2022). Should Schools teach Financial Literacy Classes?

https://everfi.com/k-12/financial-education/

Aina Caplinska & Anila Ohotina (2019). Analysis of financial literacy tendencies with

young people

https://scholar.google.com/scholar?hl=en&as_sdt=0%2C5&q=Analysis+of+financial+lite

racy+tendencies+with+young+people&btnG=#d=gs_qabs&t=1699942461431&u=%23p

%3DuRTdoDDrRDcJ
 Chapter 2

REVIEW OF RELATED LITERATURE AND STUDIES

(Include an introductory paragraph here.)

 Chapter 3

RESEARCH METHODOLOGY

(Include an introductory paragraph here.)

 Chapter 4

PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA

(Include an introductory paragraph here.)

 Chapter 5
SUMMARY OF FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS
(Include an introductory paragraph here.)
BIBLIOGRAPHY
(References must be arranged alphabetically.)
APPENDICES