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CHAPTER I
The Problem and Its Background

Introduction

Money makes the world go around without it how can we buy the things we needed to in

order to survive in this cruel world. Money has the big role and big impact as well in person’s life

that’s why we have to allocate our money and managed it very well so that it won’t be wasted for

the unnecessary things. Budgeting is the solution for that.

There is a motion that is working on teaching basic personal finances to high school

students before they graduate. A budget is clearly the key to succeeding financially. Students think

that a way to pay for college is student loans, but there are other options like scholarships, financial

aid or work options. Some can take investing classes where students can learn the process of

investing and budgeting. As a student there are also other things to spend on, it can be wants or

needs not just school supplies. Most people recommend parents to have a long-term planning for

their teen. (Caldwell, 2017).

Students on the other hand, learn to save their allowance as they grow and meet different

requirements in school as well as things they want to buy for their own. Budgeting is one of the

practical skills that come in useful for them. It helps them to attain a better understanding of

financial matters that would become handful in their future. Money is a fundamental and

indispensable tool to live in a materialistic world. Only a wise person truly knows the value of it.

Businessmen are people who use their money only when it is necessary. However, they also know

when to invest a lot of money unto something they know will be useful in the future. In fact, all

people in different fields have their own ways to spend and save their money.
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General Objective

The researchers seek to describe how much allowances are given to G-12 students in

general, where they spend their allowances and how at the same time they budget it. This will

illustrate the attributes of the students towards financial matters. The study aims to benefit the

students, parents, teachers and future researcher.

Specific Objectives

 To assess the students in practicing financial management skill.

 To focus on the proper allocation of allowances of every students to help them utilize their

allowances wisely.

 To investigate and formulate an answers from the respondents as to how and where they

spend their money every day.

 To find out the possible allowances given to the students for their needs.

Theoretical Framework

Another study Tempo (2010) he mentioned that “Students have the tendency to spend

their allowances on their recreational activities such as, renting a computer unit for fun and games,

buying items at the shopping mall, and spending money for the peers. Teens are active consumers

in terms of the money they spend, as well as in the influence they wield in their families and on

societal trends. Despite being raised in a period of rapid change; they display a remarkable self-

confidence in their judgment”. They may not realize how their current debt can negatively affect

their future credit rating. Without consistent money management practices, student whiff find it

difficult to reach financial goals. (Brown & Lago, 1997). According to Musk & Winter (1998), it
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will include “regular generation of financial statements; budgeting; control of spending; recording

income and expenses". Remund (2010) tries to conceptualize the definition of personal financial

literacy into five categories which include; knowledge of financial concepts, ability to

communicate about financial concepts, aptitude in managing personal finances, and skill in making

appropriate financial decisions, and confidence in planning effectively for future financial needs.

This implies that financial literacy goes beyond the effective use and management of money and

considers other important areas in finance. Money management is a concept that explains how

financial assets are managed. It is therefore a strategy used to ensure that investment assets yield

the highest interest value. Several academic works indicate that money management skills play an

essential role as it influences the spending habits of students on campus. Students enter colleges

without the basic knowledge of money management which arises from inadequate financial

knowledge (Ibrahim et al., 2009).

We, a student that need to know the proper uses of money. Money manage it and allocate

it well in order to comply all the important matters in every curricular activity. As a student we

need to be responsible and sensitive supposedly engaging money.

Figure 1.1 Research Paradigm of the Study

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Profile of the Respondents

The target population for the study is the G-12 students in ACLC College of Butuan. The

sample size is 75 plus selected through convenient sampling method.

Scope and Delimitation

This research study was limited only to the graduating G-12 Senior High School Students

and conducted only at the ACLC College of Butuan during the first semester of the school year

2019-2020. The researcher sample is composed of seventy-five (75) selected Grade 12 students in

their different courses. The primary data gathering method used was survey questionnaire to

determine how much money of G-12 Senior High School Students spend every week and what

they spend their money on.

Definition of Terms

For better understand and interpretation of this study, the following terms are operationally

defined.

Money. Refers to primarily a medium of exchange or means of exchanges.

Budget. Refers to the process of creating a plan to spend your money.

Allowance. Refers to the money that is given to the ACLC students in order to help them

pay or the things that they need.

ACLC. Serves as Ama Computer Learning Center: chosen target of the study

Senior High Department. Serves as the respondents of or so called study.

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Age. Refers to the maturity and experience of a students in focusing, handling and

managing when it comes to financial difficulties.

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CHAPTER 2
Review of Related Literature and Review of Related Studies

This section offers acknowledgment to the ideas and speculations of money related

spending arranging and control from various books and references which the analysts used to give

beneficial data. Survey of related writing and thinks about, outside and neighborhood was led for

the accomplishment of the objectives and fulfillment of the investigation.

Related literature

Good money management skills are the process of budgeting, saving, investing, spending

the cash usage. Though it is not something we are born with, they are acquired over one’s

lifetime through many successes and some failures as well. “An allowance is not an entitlement

or a salary. It is a tool for teaching children how to manage money.” (Godfrey, 2013).

According to (Mapua, 2016), budgeting is a challenging task for anyone, even more so for

students. Especially if you are studying in the city, say a university in Manila, and whether it’s

architecture, civil engineering, medicine, or the sciences that you are taking, the fact remains:

money management is still a part of everyday life. You have to calculate the amount of money you

need for food, commute, dorm fees, and school-related expenses while having little to no income.

Knowing how much money you should spend and where you should spend it on is very important.

Being able to manage your finances is a sign of maturity and has its rewards. It is better to start

learning it early. Take these tips.

Regarding to the software used in the budgeting process management, Uyar and Bilgin

(2011) mention that this is an important management issue, because the technology used directly

influences the time taken during the whole process. Finally, regarding to the planning stage, we
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describe the practices related to the preparation of strategic planning and its time horizon. About

strategic planning, one of the major research issues is the lack of synchrony between budgeting

and strategic planning (Libby & Lindsay, 2010).

In addition, studies observe motivational aspects at this stage. The main items involve

employees’ participation in the process, responsibilities and goals, and possible gamesmanship

(Castro et al., 2012; Huang & Chen, 2010). Uyar and Bilgin (2011) found in their research that the

most important items are the clear definition of manager’s responsibility and authority, the

participation of managers so that they can consider the budgeting achievable, and when the

budgeting is used as a performance measure for managers.

Furthermore, Tolar (2017) stated that a zero-based budget is also a method to consider

when other budgeting methods do not work for some individuals. It is also a strategy that is easier

and less risky process. Zero-based budgeting can drive significant and sustainable savings, but it

is more than simply building budget from zero (Mckinsey 2017). This allows those savings that

will drive in future growth. In addition, Amatra (2014) states that zero based budgeting

Chapter 3
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Methodology of the Study

The purpose of the study is to determine the allowance and the use of money management

practices of G-12 Senior High School Students in ACLC College of Butuan. The objectives of this

chapter is to (1) describe the research methodology of this study. (2) explain the sample selection

and (3) describe the procedure used in designing the instrument and collecting data.

Research Design

The method researchers will use in collecting information will be through survey. This is

used to evaluate and estimate the amount of money students spend and what they spend their

money on.

Research Method

In order to collect the necessary data, the researchers used the descriptive method of

research to obtain information where data were tabulated, computed and analyzed to determine

outputs.

A survey was administered to 75 plus randomly selected students from ACLC College of

Butuan. A survey is a none experimental, descriptive research method (University of Texas). This

tool is very useful way when a researcher wants to gather information.

Population of Samples

A sample in this study is, therefore, a smaller group of elements drawn through a definite

procedure from an accessible population. The elements making up this sample are those G-12

Senior High School Students. The sample of population of this study stood at selected 75

respondents of G-12 Senior High School Students.

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Location of the Study

The researchers conducted the study in the School of ACLC College of Butuan.

Figure 3.1 Map of ACLC

Research Instrument

The researchers designed a questionnaire survey instrument to assess the money

management practices of G-12 Senior High School Students in ACLC College of Butuan.

Validation of the Procedure

The instrument was validated by giving copies of it to my adviser and other lectures

knowledgeable in questionnaire drafting for comments and criticism. All the corrections made

were reflected in the final draft of the instrument. Concerning the reliability of the instrument, the

researcher used a test retest method in establishing their liability of the instrument.
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Data Gathering Procedure

The researchers addressed a letter to conduct a research to the Principal for Academic

Purposes. Upon receiving the approval of the said authorities, the study was urgently conducted.

The researchers asked permission from the adviser of the class where the questionnaires were

being floated. Permission from the willing respondents was also asked before the researchers

conducted a brief orientation regarding the scope of the study. The researchers consumed two

weeks in gathering data due to the conflicting class schedule of the respondents.

Data Processing and Statistical Treatment

At the point when the analyst assembled information from the field, he will at that point

plunk down and sort and alter the gathered information to guarantee information consistency and

evade information repetition. In spite of the fact that altering and sifting through the information,

this will wipe out occurrence of irregularity of information and maintain a strategic distance from

repetition of information that the scientist will have made during gathering information from the

field. After information handling, it will be additionally depicted through enlightening

investigation in order to have the option to produce importance concerning the information

gathered from the field and this will create significant data. Additionally, through having

significant data, this will empower the analyst to have the option to see if to acknowledge or

dismiss the theory and this will be finished by the utilization of a measurable bundle for social

researcher called SPSS where data will be in type of recurrence tables, rate and will be broke down

factually.

Bibliography
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Micomonaco, J. P. 23 April (2003). Practices, attitudes a knowledge of financial management

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