The Problem and Its Settings

Chapter I
THE PROBLEM AND ITS SETTINGS
Introduction
Financial Management can be described as one’s attitudes and actions
regarding the handling of finances. Currently, student financial management
pertains to how students perceive and behave in managing their money while
pursuing their studies. (Che, Che, & Hasimah, 2017). Additionally, effective
financial management alleviates stress for students and equips to navigate
more complex financial situations. Financial Management is crucial in the
student’s life because money undeniably holds significance, but neglecting
financial management can have adverse effects of students. Hence,
developing a solid foundation in financial management is essential to prepare
students for the challenges of the working world. (Syakirah, 2017)
Many students experiences tight budget, with expenses mainly on
lifestyle and entertainment, driven also by brand preference. More students as
parents for money during budget deficits, indicating heavy reliance in parental
support. Saving habits vary, with some wisely saving and others investing. A
practical approach to cut spending is behavior analysis and reinforcement.
Stressing financial education in adolescence is vital, along with positive
attitude and parental support for responsible financial habits. (Lalmuanpuia,
2021)
Effectively handling your finances is crucial, particularly for individuals
facing financial constraints in funding their education. Despite students
perceiving this responsibility as challenging, it is prudent to grasp the
1
fundamentals of financial management, as it holds the potential to pave the
way for a more promising future. (Bercus, 2023)
While saving money is a positive step towards an improved financial
future, the key aspect lies in acquiring the skill of prudent spending. In today's
era, impulse buying is commonplace, making it essential to discern between
necessities and desires when making a purchase. (Murphy, 2018)
High school students incur various expenses, covering items like
school supplies and participation in social activities. Specifically, the average
high school student allocates a significant amount of money annually solely
for school supplies. When factoring in expenses related to extracurricular
activities, sports, field trips, as well as the costs associated with
transportation, lunches, new clothing, and social outings like going to the
movies or sharing meals with friends, this total expenditure can easily double
and even increase further. (The American Academy, 2020)
This research seeks to shed light on the level of effects of financial
management skills and allowance budgeting among Grade 11 students at
Poblacion Polomolok National High School. The primary objectives are
threefold: firstly, to uncover the specific effects of financial management skills
on allowance budgeting; secondly, to gauge the level of influence these skills
have on the budgeting practices of Grade 11 students; and thirdly, to pinpoint
the most significant factor within financial management skills that
predominantly affects allowance budgeting in this student population at
PPNHS. Through this study, the researcher provides valuable insights that
can contribute to enhancing the financial literacy and budgeting capabilities of
2
Grade 11 students, fostering a better understanding of the practical
implications of financial management in their daily lives.
Statement of the Problem
This study provided a knowledge about the level of effects of financial
management skills on allowance budgeting among Grade 11 students in
Poblacion Polomolok National High School, this answered the following
questions:
1. What are the effects of financial management skills on allowance
budgeting among Grade 11 students in PPNHS?
2. What are the level of effects of financial management skills on
allowance budgeting among Grade 11 students in PPNHS?
3. What is the dominant effect of financial management skills on
allowance budgeting among Grade 11 students in PPNHS?
Scope and Delimitations
The respondents of this research study are 126 Grade 11 students of
Poblacion Polomolok National High School which is the 20% of the total
population. This identify the level of effects of financial management skills on
allowance budgeting among Grade 11 students in Poblacion Polomolok
National High School.
3
Significance of Study
For Researchers. This study offers valuable insights into the effects of
financial management skills on allowance budgeting among Grade 11
students at Poblacion Polomolok National High School. Researchers can use
this information to deepen their understanding of the practical implications of
financial literacy among students, contributing to the body of knowledge on
effective budgeting practices.
For Future Researchers. Future researchers can build upon this study
to explore additional dimensions of financial literacy and its impact on
students' financial behaviors. This research provides a foundation for further
investigation into strategies for enhancing financial management skills among
high school students, fostering a continuous cycle of improvement in financial
education.
For the School. Poblacion Polomolok National High School can
benefit from the findings by implementing targeted interventions to enhance
financial education programs. This study provides actionable insights that the
school can use to tailor its curriculum and support services, promoting better
financial preparedness and responsible budgeting among Grade 11 students.
For Respondents. The students who participated in this study gain
awareness of the importance of financial management skills in their daily
lives, particularly in relation to allowance budgeting. This knowledge equips
them with practical skills that can positively impact their financial decision-
making, leading to more responsible and informed money management.
4
For the Community. The community surrounding Poblacion
Polomolok National High School stands to benefit from a more financially
literate and responsible younger generation. As students develop effective
financial management skills, they are likely to contribute positively to the local
economy and foster a culture of financial responsibility within the community.
Conceptual Framework
This conceptual framework explored what were the level of effects of
financial management skills on allowance budgeting of Grade 11 students in
Poblacion Polomolok National High School.
Financial Allowance
Management Budgeting
Skills
Independent Dependent
Variable Variable
Figure 1: Research Paradigm
The figure above presents the conceptual framework of the study. It
consists of two variables. The first box shows the independent variable which
is financial management skills, this variable has a significant effect on the
Grade 11 students in PPNHS. However, the second box presents the
dependent variable which is allowance budgeting.
Theoretical Framework
This study was based mostly on Franco Modigliani and the life cycle
theory of consumption.
According to this study, life cycle theory proposes that individuals make
wise financial choices throughout their lifetimes, modifying their consumption
5
according to factors such as age and available resources. This idea ties
wealth to the length of retirement and suggests that national saving depends
on income growth rather than its level. The life-cycle concept is nevertheless
essential for comprehending social security, the impact on the stock market,
changes in the population, economic growth, and the factors that determine
national wealth, despite a number of challenges. (Angus Deaton 2016)
In studying how Grade 11 students manage their allowance, it’s crucial
to avoid oversimplifying by connecting behaviors solely to inferred
motivations. The criticism of such theories suggests considering various
factors, like external influences and individual contexts, for a more accurate
understanding of financial management skills in the specific setting of
Polomolok National High School.
Hypothesis
This study id hypothesis free because the researchers only focused on
the level of effects of financial management skills on allowance budgeting
among grade 11 students in Poblacion Polomolok National High School.
Definition of Terms
The definitions of the following concepts are conceptual. To help the
researchers better understand the importance of these words in their current
study, some have been operationally defined.
6
Allowance Budgeting: Planning and managing the money set aside for
personal spending to ensure responsible financial behavior.
Financial Management Skill: The ability to handle money wisely, including
budgeting, saving, and making informed financial decisions.
Grade 11 Students: High school juniors, usually aged 16 to 17, going
through a crucial stage in their academic journey.
Level of Effects: How much and in what ways financial management skills
impact the way students handle their allowance budgeting.
Poblacion Polomolok National High School: The school where the
research is happening, providing the context for studying how Grade 11
students manage their finances.
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Chapter II
REVIEW OF RELATED LITERATURE
Foreign Literature & Studies
A study discovered that most students don't have a budget, run out of
money before their next income, don't save for unexpected expenses or
Covid-19-related medical costs, and usually borrow money from relatives and
friends to manage financially. Many students faced financial difficulties
because of the Covid-19 pandemic. (Gumbo, Mutengezanwa, & Munyaradzi,
2022)
Large proportion of students encounter financial difficulties prior to
receiving their subsequent allowance. So they take out loans, even ones with
interest, from friends, family, and acquaintances (Labbutan &
CarbonelLoneza, 2022). It is also discovered that most students lack effective
budgeting habits. It recommends that students should learn to determine their
spending limits and improve their budgeting skills (Ni Aung & Mon, 2020).
Budgetary features show how well organizations can predict financial
goals. Human factors, including managerial commitment, employee
motivation, training, competence, and attitude, influence the budget control
process (Fines, 2018). It is really crucial for young individuals to start learning
about finance during adolescence to increase their chances of success in
adulthood (Bona, 2018).
8
Students who effectively handle their finances experience peace of
mind by fulfilling their financial duties with minimal debts and liabilities.
Successfully managing financial resources leads to lower debts and liabilities,
ultimately boosting satisfaction with the level of financial support (Moneva &
Tunacao, 2019).
A study that was discovered that parents play a significant role in
teaching children about finance, influencing students' knowledge in effectively
utilizing scholarships to meet college expenses (Pappang & Anastasia, 2019).
Public secondary schools should implement efficient budget management
systems and robust financial controls. (Munge, Kimani, & Ngugi, 2020)
While college is often associated with discovering passions and
socializing, it's crucial for students to consider financial planning. With soaring
education costs, accumulating debt can have long-lasting effects on post-
graduation life. Smart financial habits learned in college, like living within your
means, can set the foundation for a more secure future, impacting decisions
on cars, homes, and retirement savings. Taking control of personal finances
during this time can be invaluable in navigating post-college life. (MoneyGeek
Team, 2022)
A financial goal is a monetary target you aim to reach, whether it's
building a substantial nest egg or saving for a specific short-term expense.
These goals serve as benchmarks in your journey to accumulate savings,
make investment decisions, and eliminate debt. They essentially act as
milestones on the path toward achieving the lifestyle you desire. (Marquit,
2023)
9
Regarding personal finance challenges, numerous college students
rely on family members or parents for support, while others quickly exhaust
their student loans. Effectively managing your finances not only allows you to
enjoy certain advantages but also enables you to save and handle money
wisely. This, in turn, provides the opportunity to accumulate extra funds for
significant purposes, such as projects. (Bercus, 2023)
Local Literature & Studies
Many students often run out of money before their next allowance and
end up borrowing from family, friends, or others, sometimes even with
interest. This highlights the importance of teaching personal financial skills,
focusing on areas where students might lack knowledge to help them manage
money better (Cruz, 2022)
Students receive between forty-one to fifty pesos as their daily
allowance, and they find this amount satisfactory for their daily needs.
Students appear to have less financial stress because they can fulfill their
obligations without accumulating too much debt. When students handle their
money well, they tend to have fewer debts and feel more satisfied with the
financial support they receive (Dulin, 2016).
A study that was discovered that the research found that students'
financial choices are affected by various people in their lives, including
parents, siblings, friends, relatives, grandparents, and classmates . To
improve financial management the financial management, students should
spend their money wisely. Educators need to prioritize teaching children the
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importance of managing finances effectively (Ablay, et al., 2023). Also,
Parents should also support in helping their kids manage the money they get
as allowances. (Deloso, Gales , Labasan, Boneo , & Rosario, 2019)
Students’ financial well-being is significantly influenced by their
financial behavior, indicating that coaching to change behavior may be more
effective than just teaching financial concepts (SciSpace, 2023).
Synthesis
The synthesis of the descriptive research titled "The Level of Effects of
Financial Management Skills on Allowance Budgeting Among Grade 11
Students in Poblacion Polomolok National High School" demonstrates how
financial management skills effects on how Grade 11 students budget their
allowance. This investigation investigates the numerous elements that
influence these students' financial decisions, stressing the critical role that
well-developed financial abilities play in instilling good budgeting habits.
Furthermore, the synthesis identifies gaps in previous evidence, allowing the
current study to make a significant addition to understanding how Grade 11
students manage their finances, particularly in terms of allowance budgeting.
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Chapter III
METHODOLOGY
Restatement of the Problem
This study examines how financial management skills impact
allowance budgeting among Grade 11 students in Poblacion Polomolok
National High School, assessing the overall level and identifying the most
dominant effect of these skills on their budgeting practices.
Research Design
The researchers employed a quantitative method and use descriptive
design to determine the level of effects of financial management skills of
allowance budgeting among Grade 11 students at Poblacion Polomolok
National High School. This design allows for statistical analysis and numerical
representations of the level of effects of financial management skills on
allowance budgeting.
Research Locale
The study was conducted Poblacion Polomolok National High School
in Purok Masikap, Barangay Pagalungan. Students from the school were
surveyed by the researcher. The study was conducted in the first semester of
the academic year 2023-2024. PPNHS is a public secondary educational
institution located in Barangay Pagalungan, Polomolok, South Cotabato.
Since it’s established on January 01, 1997, the school provides curriculum-
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based quality and affordable education to the residents. This school has a
faculty, a library, a gym, a wide field where the students do activities.
Figure 2: Research Locale of the Study
Population and Sample
Population refers to individuals that is focus of the study. In order to
determine the level of effects of financial management skills on allowance
budgeting among Grade 11 students at Poblacion Polomolok National
Highschool. The researchers used stratified random sampling. There a total of
126 respondents which is the 20% of the population of Grade 11 department,
took part in the study as participants.
Table 1: Computation in Sampling
Grade 11 Solution No. of Respondents
ABM MARKETING 33 (20%) 6
ABM FINANCE 30 (20%) 6
13
STEM EUCLID 43 (20%) 8
STEM PASCAL 44 (20%) 9
STEM PYTHAGORAS 42 (20%) 8
HUMSS SOCRATES 50 (20%) 10
HUMSS ARISTOTLE 48 (20%) 9
HUMSS THALES 51 (20%) 10
HUMSS MENCIUS 44 (20%) 9
HUMSS HERACLITUS 48 (20%) 10
HUMSS EPICURUS 37 (20%) 7
HUMSS LEUCIPPUS 45 (20%) 9
ICT TECHNOPHILE 48 (20%) 10
AGRI 44 (20%) 9
TVL 37 (20%) 7
TOTAL 126
Data Gathering Instrument
The instrument used was a survey questionnaire. These
questionnaires assessed student’s financial management skills, budgeting
practices, and their perceived impact on financial decisions. The researchers
gave the questionnaires to the respondents that was answered by the Grade
11 students. The tools provide the specific inquiry with 15 questions regarding
“The Level of Effects of Financial Management Skills on Allowance Budgeting
among Grade 11 Students at Poblacion Polomolok National High School”.
14
The Likert 5-point scale was used to measure the respondents. A five-
point Likert Scale is used by respondents to indicate what is the level in each
statement.
VERBAL INTERPRETATION:
Strongly Strongly
Agee Neutral Disagree
Agree Disagree
5 4 3 2 1
Data Gathering Procedure
In the data gathering procedure, the researchers used questionnaires
and the research objectives that were clearly defined which is to identify the
level of effects of financial management skills on allowance budgeting among
Grade 11 students at Poblacion Polomolok National Highschool. The
researchers formulated a set of clear and unbiased questions, and experts
can validate them from reliability.
The reseachers based their questionnaires to statement of the
problem. The target audiences are the 126 Grade 11 students in Poblacion
Polomolok National High School which is the 20% of the populations. The
questionnaires are distributed through various means like paper forms, with a
focus on obtaining informed consent. The collected questionnaires are
meticulously gathered and responses tallied. Data is cleaned, analyzed for
patterns and insights, and conclusions and recommendations are drawn from
the findings. A concise report was the prepared by the researchers to convey
15
the results effectively. It’s essential to uphold data privacy and adhere to
ethical guidelines throughout the procedure.
Statistical Treatment for Data
The responses made by the Grade 11 students describing their
experiences of financial management skill on allowance budgeting were
presented. The overall picture of the result will also be presented.
Responses to the questionnaires by the Grade 11 students in
Poblacion Polomolok National High School were statistically analyzed with
the data requirements of the study. Descriptive statistics such as percentage,
frequency and mean were considered.
Formula:
Ʃx
Weighted mean= r where:
Ʃ x = sum of all responses

r = number of questionnaires
Ethical Considerations
In the development of this research, the researchers is committed to
upholding its integrity and conducting an independent and impartial study. The
researchers ensured that every participant’s involvement is entirely voluntary,
and they have the unequivocal right to give or withhold consent, as well as to
refuse or participate in the study. The participants were informed of the
16
study’s objectives, and their responses were treated with strict confidentiality,
solely used for academic purposes. Furthermore, their views, opinions and
comments are safe guarded, ensuring their safety.
17
Chapter IV
Presentation, Analysis, and Interpretation of Data
This chapter exhibits the analysis and interpretation of data. The data
that was gathered were taken from the responses of the respondents to the
questionnaire. In taking the data frequency count, weighted mean, and Likert
Scale were used. After all data were analyzed, all variables were tallied,
computed the overall weighted mean, and were given interpretation.
TABLE 1: Level of Effects of Financial Management Skills on Allowance
Budgeting Among Grade 11 Students in Poblacion Polomolok National
High School
Weighted Verbal
Questions Description
Mean Interpretation
1.I seek guidance for teachers
or parents regarding to my
3.49 Agree High level
spending management
practices.
2. I think that my personal
preferences significantly
influence my spending
decisions.
3. I believe that media 3.51 Agree High level
advertising influence my
spending choices and
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allowances.
4. My ability to understand
financial goal is a factor that
affects how I handle my 3.97 Agree High level
spending as a Grade 11
student.
5. I think stress or pressure
affects my spending 3.66 Agree High level
decisions.
6. I worried about peer
pressure affecting my 3.57 Agree High level
allowances.
7. I notice any connection
between academic success

and effective spending
management.
8. I agree financial education
programs shapes spending 3.79 Agree High level
management skills.
9. I see varying impacts of
economic conditions on my 3.72 Agree High level
spending behavior.
10. I believe that societal
trends affect how I spend 3.70 Agree High level
money in varying degrees.
19
11. I think that peer pressure
has a stronger influence on

my allowances than other
factors.
12. The amount of guidance
from my parents noticeably
affect on how I manage my 3.77 Agree High level
spending as a Grade 11
student.
13. I notice a consistent
influence from economic

conditions on how I spend
money.
14. I see a main influence
from my personal preferences 3.77 Agree High level
in my spending choices.
15. I recognize that societal
trends significantly affect how 3.77 Agree High level
I spend money.
Total 3.69 Agree High Level
Table 1 shows the different effects of financial management skills on
allowance budgeting among Grade 11 students of PPNHS, and the following
effects described into themes which are: guidance and influence, personal
20
preferences and spending decisions, media influence on spending, financial
goal understanding, stress on spending decisions, peer pressure on
spending, academic success and spending management, financial education
impact, economic conditions on spending behavior, societal trends on
spending choices, parental guidance influence, consistent economic
influence, peer pressure dominance, impact of guidance on spending
management, and recognition of societal trends.
Data in the table shows that the level of effects of financial
management skills on allowance budgeting of students in terms of financial
goal understanding have the highest mean score of 3.97, indicating a high
level of effect. It was then followed by the following effects: financial education
impact (3.79 – high level), personal preferences on decision-making (3.78 –
high level), consistent economic influence (3.77 – high level), impact of
guidance on spending management (3.77 – high level), recognition of societal
trends (3.77 – high level), academic success and spending management
(3.73 – high level), economic conditions on spending behavior (3.72 – high
level), societal trends on spending choices (3.70 – high level), peer pressure
dominance (3.68 – high level), stress on spending decisions (3.66 – high
level), peer pressure on spending (3.57 – high level), media impact on
spending choices (3.51 – high level), seeking guidance (3.49 – high level),
and lastly, parental guidance influence (3.44 – high level). The overall mean
of the level of effect of financial management skills on allowance of students is
3.69 indicating a high level of effect.
The data table showcases the intricate dynamics surrounding the
effects of financial management skills on students' allowance budgeting.
21
Notably, "Financial Goal Understanding" takes center stage with the highest
mean score of 3.97, indicating a substantial and high-level impact on students'
budgeting behaviors. This underscores the paramount importance of fostering
a clear understanding of financial goals as a foundational element in shaping
responsible financial practices among students. The prominence of this theme
suggests that educational initiatives and interventions targeting goal
comprehension could significantly contribute to improved financial decision-
making.
Following closely are themes like "Financial Education Impact,"
"Personal Preferences on Decision-Making," and "Consistent Economic
Influence," all with mean scores above 3.75, categorizing them as high-level
factors. This underscores the interconnected nature of individual preferences,
formal financial education, and economic conditions in influencing how
students manage their allowances. The collective influence of these factors
speaks to the complexity of the decision-making process and emphasizes the
need for a holistic approach to financial education.
Moreover, the data reveals the societal and environmental factors that
play significant roles in students' financial decisions. Themes such as
"Recognition of Societal Trends," "Academic Success and Spending
Management," and "Impact of Guidance on Spending Management" received
high mean scores, indicating that external influences, academic
achievements, and guidance mechanisms are integral components in shaping
students' financial habits. The cumulative mean score of 3.69 for the overall
impact of financial management skills on students' allowances further
solidifies the notion that a comprehensive approach, addressing both
22
individual and external influences, is crucial in fostering responsible financial
behaviors among students.
TABLE 2: Dominant Level of Effects of Financial Management Skills on
Allowance Budgeting Among Grade 11 Students in Poblacion
Polomolok National High School
Weighted Verbal
Effects Ranking
Mean Interpretation
1. Seeking Guidance 3.49 High level 14
2. Personal Preferences in
3.78 High level 3
Decision-Making
3. Media Impact on
3.51 High level 13
Spending Choices
4. Financial Goal
3.97 High level 1
Understanding
5. Stress on Spending
3.66 High level 11
Decisions
6. Peer Pressure and

3.57 High level 12
Allowances
7. Academic Success and

3.73 High level 7
Spending Management
23
8. Financial Education
3.79 High level 2
Impact
9. Economic Conditions
3.72 High level 8
and Spending Behaviour
10. Societal Trends on

3.70 High level 9
Spending Choices
11. Parental Guidance

3.44 High level 15
Influence
12. Consistent Economic

3.77 High level 4
Influence
13. Peer Pressure Economic

3.68 High level 10
Influence
14. Impact of Guidance on

3.77 High level 5
Spending Management
15. Recognition of Societal

3.77 High level 6
Trends
The dominant level of effect in the study is highlighted by the highest
mean score of 3.97 attributed to the theme of "Financial Goal Understanding."
This underscores the paramount influence of having a clear comprehension of
financial goals on students' allowance budgeting. The consistently high scores
across various themes, including financial education impact, personal
preferences, and economic conditions, indicate a complex interplay of factors
24
shaping students' financial decisions. Recognizing the significance of financial
goal understanding as the dominant influence.
This result was supported by Stephen Kyne (2023) in his article, stating
that, “The path toward financial success is a personal journey for individuals,
shaped by their unique aspirations, responsibilities, and circumstances.
However, a universal aspect that everyone must embrace is the importance of
setting financial goals. When individuals set clear, well-defined objectives,
their financial planning becomes more structured and effective, ultimately
paving the way toward long-term prosperity.”
CHAPTER V
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
Summary and Findings
The summary findings, conclusion, and recommendations regarding
the level of effects of financial management skills on allowance budgeting
25
among Grade 11 students in Poblacion Polomolok National High School, are
presented in this chapter.
1. What are the effects of financial management skills on allowance budgeting
among Grade 11 students in PPNHS?
The factors that gives the level of effects of financial management skills
on allowance budgeting among Grade 11 students in PPNHS, and the
following effects described into themes which are: seeking guidance and
influence, personal preferences and spending decisions, media influence on
spending, financial goal understanding, stress on spending decisions, peer
pressure on spending, academic success and spending management,
financial education impact, economic conditions on spending behavior,
societal trends on spending choices, parental guidance influence, consistent
economic influence, peer pressure dominance, impact of guidance on
spending management, and recognition of societal trends.
2. What are the level of effects of financial management skills on allowance
The factors that gives the level of effects of financial management skills
on allowance budgeting of students in terms of financial goal understanding
have the highest mean score of 3.97, indicating a high level of effect. It was
then followed by the following effects: financial education impact (3.79 – high
level), personal preferences on decision-making (3.78 – high level), consistent
economic influence (3.77 – high level), impact of guidance on spending
management (3.77 – high level), recognition of societal trends (3.77 – high
level), academic success and spending management (3.73 – high level),
economic conditions on spending behavior (3.72 – high level), societal trends
26
on spending choices (3.70 – high level), peer pressure dominance (3.68 –
high level), stress on spending decisions (3.66 – high level), peer pressure on
spending (3.57 – high level), media impact on spending choices (3.51 – high
level), seeking guidance (3.49 – high level), and lastly, parental guidance
influence (3.44 – high level). The overall mean of the level of effect of financial
management skills on allowance of students is 3.69 indicating a high level of
effect.
3. What is the dominant effect of financial management skills on allowance
The dominant level of effect in the study is highlighted by the highest
level of effects mean score of 3.97 attributed to the theme of "Financial Goal
Understanding." This underscores the paramount influence of having a clear
comprehension of financial goals on students' allowance budgeting
Conclusions
Based on the findings, the following conclusions are obtained.
1. The researcher found out that ang 1 financial management skills
significantly impact Grade 11 students' allowance budgeting at PPNHS.
Factors like guidance, personal preferences, media influence, and financial
goal understanding play crucial roles. Recognizing these influences is key for
27
developing effective strategies to enhance students' financial management
skills and encourage responsible allowance budgeting.
2. The researcher found that financial management skills significantly
impact Grade 11 students' allowance budgeting at PPNHS, with an overall
high level of effect (mean score of 3.69). Notably, understanding financial
goals (mean score 3.97) plays a pivotal role, emphasizing the importance of
addressing this aspect for promoting responsible budgeting among students.
3. Among Grade 11 students at PPNHS, the most dominant factor
affecting allowance budgeting is "Financial Goal Understanding," with the
highest mean score of 3.97. This underscores the crucial role of clear financial
goals in shaping students' budgeting decisions. Recognizing this influence is
vital for effective strategies in enhancing financial management skills and
promoting responsible allowance budgeting.
Recommendations
Based on the presentation of findings and conclusions, the researchers
determined the effects of financial management skills which is the increased
difficulty in Budgeting money.
Furthermore, the researchers recommend the following
Students- enhance financial management skills to navigate challenges like
budgeting.
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Teachers- incorporate practical lessons on budgeting to empower students.
Parents- encourage financial literacy at home, fostering responsible money
habits.
Future researchers- explore interventions to mitigate difficulties in budgeting
and contribute to financial education strategies.
29
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(Bercus, 2023) SPENDING PRACTICES AND MONEY MANAGEMENT
STRATEGIES OF ASPIRING ACCOUNTANTS: AN INVESTIGATION
start=10&q=THE+LEVEL+OF+EFFECTS+OF+FINANCIAL+MANAG
EMENT+SKILLS+ON+ALLOWANCE+BUDGETING+AMONG+STUDE
NTS+ARTICLES&hl=en&as_sdt=0,5#d=gs_qabs&t=1703054328
288&u=%23p%3DBEj9NFV5U08J
(Murphy, 2018) The impact of perceived financial literacy and parental norm
towards money management of bidikmisi student
113&u=%23p%3DNdThHV-gJwwJ
(The American Academy, 2020) Attitude towards money: Mediation to money
management
760&u=%23p%3D1Uf_n2r1UlcJ
(Gumbo, Mutengezanwa, & Munyaradzi, 2022) Factors influencing financial
management in public secondary schools in Nakuru County, Kenya
31
%23p%3DAciCC9eA0KkJ
(Angus Deaton 2016) social learning theory
https://scholar.google.com/scholar?hl=en&as_sdt=0%2C5&q=Bandura
%E2%80%99s+Social+Learning+Theory
%2C+&oq#d=gs_qabs&t=1706166492449&u=%23p%3Djf_4WGfyjiIJ
(Ni Aung & Mon, 2020) Trends in Spending and Money Management Practices
among Students of Kerala
%23p%3Dochurq5DB1EJ
(Fines, 2018) How does financial literacy affects students spending behavior in
the Philippines?
https://typeset.io/questions/how-does-financial-literacy-affects-
students-spending-1ia8zaekv2
(Bona, 2018) Budgeting Strategies and Its Impact to the Financial Decision-
Making of Grade 12 ABM Students in Bestlink College of the Philippines
School Year 2018-2019
32
%23p%3DAciCC9eA0KkJ
(Moneva & Tunacao, 2019) THE RELATIONSHIP BETWEEN SPENDING
BEHAVIOR AND STUDENT FINANCIAL MANAGEMENT SKILLS
%23p%3DNdThHV-gJwwJ
(Munge, Kimani, & Ngugi, 2020) BUDGET MANAGEMENT AND CONTROL:
SPECIAL EMPHASIS ON ETHIOPIAN ROAD AUTHORITY
%23p%3DBEj9NFV5U08J
(MoneyGeek Team, 2022) An analysis on the financial awareness and literacy
among the students of Cagayan State University Andrews campus
hl=en&as_sdt=0%2C5&q=THE+LEVEL+OF+EFFECTS+OF+FINANCI
AL+MANAGEMENT+SKILLS+ON+ALLOWANCE+BUDGETING+AMO
33
NG+STUDENTS+ARTICLES&btnG=#d=gs_qabs&t=1703053747341&
u=%23p%3DNMm066MO2fwJ
(Marquit, 2023) The influence of attitudes, internal locus, and financial
socialization agents on financial management behavior
u=%23p%3DJr3QM5IogSwJ
(Bercus, 2023) The influence of attitudes, internal locus, and financial
socialization agents on financial management behavior
u=%23p%3DJr3QM5IogSwJ
(Cruz, 2022) Using a budget standards approach to assess the adequacy of
newstart allowance
hl=en&as_sdt=0%2C5&q=allowance+budgeting+&btnG=&rlz=#d=gs_q
abs&t=1706166609176&u=%23p%3DpR6S0ab4s3EJ
34
.
APPENDIX A
Republic of the Philippines
Department of Education
Region XII
Division of South Cotabato
POBLACION POLOMOLOK NATIONAL HIGH SCHOOL
Brgy. Pagalungan, Polomolok, South Cotabato
LETTER OF PERMISSION
December 7, 2023
MARY ANN F. BAJAR

School Principal II
Poblacion Polomolok National High School
Madam:
Greetings of Peace!
We, the grade XII Accountancy, Business and Management (ABM)

students of Poblacion Polomolok National High School (PPNHS) are currently
conducting a research study entitled The Level of Effects of Financial
Management Skills on Allowance Budgeting Among Grade 11 Students
in Poblacion Polomolok National High School as a fulfilment to the
requirements in our subject Practical Research II.
35
In line with this, we are asking permission from you to conduct a survey
to the Grade XI students in PPNHS. The respondents will answer the given
questionnaire and will only consume 3-4 minutes of their time. The data
gathering will only be on the vacant time of the researchers and the
respondents.
We are hoping for your kind consideration. Thank you and God bless.
Respectfully yours,
CLYDE VINCENT V. DIAZ (SGD)

Researchers’ Representative
Noted by: Approved by:
LYNSDALE C. BATIANCILA (SGD) MARY ANN F. BAJAR (SGD)

Practical Research II Instructor School Principal II
Region XII
LETTER TO THE RESPONDENTS
December 11, 2023
To the Respondents,
Greetings of Peace!
We, the grade XII Accountancy, Business and Management (ABM) students
of Poblacion Polomolok National High School (PPNHS) are currently
To make this study possible, we need to conduct a survey with regards to the
study. Please be assured of the confidentiality of your ways of living as no one
except us will utilize the data to be obtained for this undertaking.
36
Thank you so much for your kind consideration. God bless us all!
Respectfully yours,

Noted by:
LYNSDALE C. BATIANCILA (SGD)

Practical Research II Instructor

Region XII
LETTER TO THE VALIDATOR
December 7, 2023
MARY ANN C. PEÑAFLORIDA

Teacher III
Brgy, Pagalungan, Polomolok, South Cotabato
Madam:
Greetings of Peace!
37
To make this study possible, we would like to ask your expertise to validate
our questionnaire.
Thank you so much for your kind consideration. God bless us all!
Respectfully yours,

Noted by:

38
Region XII
LETTER TO THE STATISTICIAN
January 5, 2023
ADELAIDA D. OMANIO
Teacher III
Brgy, Pagalungan, Polomolok, South Cotabato
Madam:
Greetings of Peace!
With your expertise, we are humbly asking your valuable assistance with our
research in order for us to adequately complete it. We are looking forward that
our request would merit your positive response.
Thank you and more power.
Respectfully yours,

Noted by:

39
APPENDIX B
Region XII
CERTIFICATION
To Whom It May Concern:
This is to certify that the undersigned had reviewed and validated the
instrument employed in the research paper of CLYDE VINCENT V. DIAZ,
IRYSH ANNICA BIANCA R. MONTAÑO, and QUEENLY LOVE M.
MOSCOSO, entitled The Level of Effects of Financial Management Skills
on Allowance Budgeting Among Grade 11 Students in Poblacion
Polomolok National High School. It has been validated in terms of content,
organization, mechanism and format.
This certification is issued to the names listed above for whatever legal
purposes this may serve best.
Issued this 7th day of December 2023 in Poblacion Polomolok National

High School, Brgy. Pagalungan, Polomolok, South Cotabato.
MARY ANN C. PEÑAFLORIDA, T III

(SGD)
Validator
40
41
Region XII
CERTIFICATION
To Whom It May Concern:
This is to certify that the undersigned had reviewed and corrected the
statistical tool employed in the research paper of CLYDE VINCENT V. DIAZ,
IRYSH ANNICA BIANCA R. MONTAÑO, and QUEENLY LOVE M.
MOSCOSO, entitled The Level of Effects of Financial Management Skills
on Allowance Budgeting Among Grade 11 Students in Poblacion
Polomolok National High School
This certification is issued to the names listed above for whatever legal
purposes this may serve best.
Issued this 5th day of January 2023 in Poblacion Polomolok National

High School, Brgy. Pagalungan, Polomolok, South Cotabato.
ADELAIDA D. OMANIO, T III (SGD)

Statistician
APPENDIX C
42
THE LEVEL OF EFFECTS OF FINANCIAL MANAGEMENT SKILLS ON
ALLOWANCE BUDGETING AMONG GRADE 11 STUDENTS IN
Statement of The Problem:
1. What are the effects of financial management skills on allowance budgeting among grade 11 students in
PPNHS?
2. What are the level of effects of financial management skills on allowance budgeting among grade 11
students in PPNHS?
3. What is the dominant effect of financial management skills on allowance budgeting among grade 11
students in PPNHS?
Directions: Please indicate the level of satisfaction with each of these statements regarding financial
management skills on allowance budgeting. Please put a check ( ̷̷ ) on the box.
(5)-STRONGLY AGREE, (4)-AGREE, (30)-NEUTRAL, (2)-DISAGREE, (1)- STRONGLY DISAGREE
Strongl Disagre Strongly

Questions Agree Neutral
y Agree e Disagree
5 4 3 2 1
1.I seek guidance for teachers or parents regarding to
my spending management practices.
2. I think that my personal preferences significantly

influence my spending decisions.
3. I believe that media advertising influence my spending

choices and allowances.
4. My ability to understand financial goal is a factor that

affects how I handle my spending as a Grade 11 student.
5. I think stress or pressure affects my spending

decisions.
6. I worried about peer pressure affecting my

allowances.
7. I notice any connection between academic success

and effective spending management.
8. I agree financial education programs shapes spending

management skills.
9. I see varying impacts of economic conditions on my

spending behavior.
10. I believe that societal trends affect how I spend

money in varying degrees.
11. I think that peer pressure has a stronger influence on

my allowances than other factors.
12. The amount of guidance from my parents noticeably

affect on how I manage my spending as a Grade 11
student.
13. I notice a consistent influence from economic

conditions on how I spend money.
14. I see a main influence from my personal preferences

in my spending choices.
15. I recognize that societal trends significantly affect

how I spend money.
APPENDIX D
43
44
APPENDIX E
CURRICULUM VITAE
PERSONAL DATA
Name: Clyde Vincent V. Doaz
Sex: Male
Address: Ilang-Ilang Street. Brgy. Poblacion, Polomolok,
South Cotabato
Date of Birth: November 30, 2005
Age: 18
Place of Birth: Polomolok, South Cotabato
Civil Status: Single
Citizenship: Filipino
Religion: Alliance
Height: 171 cm
Weight: 55 klg
Cellphone Number: 09935097909
Father’s Name: Rolando T. Diaz
Mother’s Name: Juliet V. Diaz
EDUCATIONAL ATTAINMENT
Elementary: Polomolok Central Elementary School
Year Graduated: 2018
Junior High School: Poblacion Polomolok National High School
School Year Completed: 2022
Senior High School:
Year Graduated: N/A
45
CURRICULUM VITAE
PERSONAL DATA
Name:Irysh Annica Bianca R. Montaño
Sex: Female
Address: Purok. Malinawon Hilltop Village Polomolok,
South Cotabato
Date of Birth: November 12, 2005
Age: 18
Place of Birth: Polomolok South Cotabato
Religion: Christian
Height: 170cm
Weight: 35 kg
Cellphone Number: 09501491535
Father’s Name:Irene T. Montaño
Mother’s Name:Edelina R. Montaño
Senior High School:
Year Graduated: N/A
46
CURRICULUM VITAE
PERSONAL DATA
Name: Queenly Love M. Moscoso
Sex: Female
Address: Adelfa street Poblacion Polomolok South Cotabato
Date of Birth: November 15,2005
Age: 18
Place of Birth: Upper Klinan
Religion: Pentecostal
Height:
Weight:
Cellphone Number
Father’s Name: Ryan S. Moscoso
Mother’s Name : Ginalyn M.Moscoso
Senior High School: Poblacion Polomolok National High School
Year Graduated: N/A
47

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Chapter I

THE PROBLEM AND ITS SETTINGS

Financial Management can be described as one’s attitudes and actions

regarding the handling of finances. Currently, student financial management

financial management alleviates stress for students and equips to navigate

more complex financial situations. Financial Management is crucial in the

student’s life because money undeniably holds significance, but neglecting

financial management can have adverse effects of students. Hence,

developing a solid foundation in financial management is essential to prepare

students for the challenges of the working world. (Syakirah, 2017)

Many students experiences tight budget, with expenses mainly on

lifestyle and entertainment, driven also by brand preference. More students as

practical approach to cut spending is behavior analysis and reinforcement.

Stressing financial education in adolescence is vital, along with positive

attitude and parental support for responsible financial habits. (Lalmuanpuia,

Effectively handling your finances is crucial, particularly for individuals

facing financial constraints in funding their education. Despite students

perceiving this responsibility as challenging, it is prudent to grasp the

way for a more promising future. (Bercus, 2023)

While saving money is a positive step towards an improved financial

era, impulse buying is commonplace, making it essential to discern between

necessities and desires when making a purchase. (Murphy, 2018)

High school students incur various expenses, covering items like

school supplies and participation in social activities. Specifically, the average

high school student allocates a significant amount of money annually solely

for school supplies. When factoring in expenses related to extracurricular

activities, sports, field trips, as well as the costs associated with

and even increase further. (The American Academy, 2020)

This research seeks to shed light on the level of effects of financial

management skills and allowance budgeting among Grade 11 students at

Poblacion Polomolok National High School. The primary objectives are

threefold: firstly, to uncover the specific effects of financial management skills

on allowance budgeting; secondly, to gauge the level of influence these skills

have on the budgeting practices of Grade 11 students; and thirdly, to pinpoint

the most significant factor within financial management skills that

predominantly affects allowance budgeting in this student population at

can contribute to enhancing the financial literacy and budgeting capabilities of

implications of financial management in their daily lives.

Statement of the Problem

This study provided a knowledge about the level of effects of financial

management skills on allowance budgeting among Grade 11 students in

Poblacion Polomolok National High School, this answered the following

1. What are the effects of financial management skills on allowance

budgeting among Grade 11 students in PPNHS?

2. What are the level of effects of financial management skills on

allowance budgeting among Grade 11 students in PPNHS?

3. What is the dominant effect of financial management skills on

allowance budgeting among Grade 11 students in PPNHS?

Scope and Delimitations

The respondents of this research study are 126 Grade 11 students of

population. This identify the level of effects of financial management skills on

allowance budgeting among Grade 11 students in Poblacion Polomolok

National High School.

financial management skills on allowance budgeting among Grade 11

students at Poblacion Polomolok National High School. Researchers can use

this information to deepen their understanding of the practical implications of

financial literacy among students, contributing to the body of knowledge on

effective budgeting practices.

to explore additional dimensions of financial literacy and its impact on