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CHAPTER 4

Conclusions and Recommendations

Presented in this chapter is the summary of the study. It begins with an

overview of the entire study; followed by the conclusions derived from the findings;

and lastly, the recommendations made to improve practices.

This study aimed to determine the level of financial literacy of grade 12

STEM students in Davao Doctors College. It specifically investigated the level of

financial literacy in terms of budgeting, savings, and controlling expenses. It also

aimed to determine the level of financial behavior of grade 12 STEM students in

Davao Doctors College when analyzed in terms of cash management, credit

management, and savings management. Furthermore, this study aimed to find if

there is a significant relationship between financial literacy and financial behavior

of grade 12 STEM students in Davao Doctors College.

The study employed a descriptive correlational design. It was conducted at

Davao Doctors College – Senior High School Department. The respondents were

grade 12 STEM students. The respondents were chosen through simple random

sampling. To generate data for both independent and dependent variables, two

questionnaires were utilized. The two questionnaires had twenty-one items which

were divided into three indicators.

The overall mean for the level of financial literacy is 4.02 which can be

described as very high. The highest mean among the indicators is 4.19 for

students’ controlling expenses, on the other hand, the lowest mean is 3.89 for

budgeting.

The overall mean for level of financial behavior is 4.24 which can be

described as very high. The highest mean among the indicators is 4.39 for
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students’ credit management, on the other hand, the lowest mean is 4.03 for

students’ cash management.

The results showed that the relationship between the level of financial

literacy and the level of financial behavior are not significant at a 0.05 level of

significance. These results lead to the failure to reject the null hypothesis which

states, there is no significant relationship between the level of financial literacy and

the level of financial behavior of grade 12 STEM students.

Conclusions

Based on the results of the study, the following conclusions are derived:

In terms of budgeting, the students show comprehensive financial literacy

and are oriented toward financial success. This suggests that they can come up

with a personal budget plan for themselves that strikes a balance between their

needs, wants, and objectives, even though they might encounter some challenges,

particularly in maintaining tabs on their spending and setting up an emergency

fund.

In terms of savings, the students show comprehensive financial literacy and

are oriented toward financial success. This indicates that the students are aware

of the importance of saving money rather than immediately spending it, however,

they occasionally prefer to eat out rather than prepare their own meals to reduce

expenses.

In terms of controlling expenses, the students show extremely

comprehensive financial literacy and are highly oriented toward financial

success. This also means that the students keep track of their spending and take

charge of their own finances although there are instances where they do not

always have control over how they manage their expenses.

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In terms of students’ cash management, the students show that their

financial behavior is highly observed and extremely oriented toward positive

behavior. This demonstrates that the students understand where their money is

going and can recognize and change their poor spending habits although there are

times that they do not set aside enough money to spend on a specific day.

In terms of students’ credit management, the students show that their

financial behavior is highly observed and extremely oriented toward positive

behavior. This means that the students make sure to carefully check the balance

on their online loan account to avoid any over-limit fees. This also means that

students do exert an effort to examine bank accounts and credit cards for the best

possibilities and lowest costs to be aware of how much they are being charged,

the interest rate they will be paying, when and how they will be paying, as well as

the maximum amount they can borrow.

In terms of students’ savings management, the students show that their

financial behavior is highly observed and extremely oriented toward positive

behavior. This implies that the students carefully manage their own funds and can

distinguish between short-term and long-term savings goals, as well as that they

exert an effort to review their regular expenditures to be aware of how much they're

spending to avoid unnecessary purchases.

The results of the test of relationship between the overall level of financial

literacy and overall level of financial behavior led to the retention of the null

hypothesis which states there is no significant relationship between the level of

financial literacy and level of financial behavior of grade 12 STEM students at

Davao Doctors College.

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Recommendations

Based on the conclusions drawn out of the study, the following

recommendations are forwarded:

The Department of Education may intensify and expand the integration of

financial education in the K to 12 Basic Education Curriculum to improve the

financial literacy and capability of its learners which will enable them to acquire

financial health and financial inclusion.

The School Administrators of Davao Doctors College may design a set of

activities that aid in raising public awareness of all areas of money and how it

influences every aspect of the lives of students. It is recommended to establish a

program that advocates the importance of managing finances and aims to increase

the levels of financial literacy and financial behavior of grade 12 STEM students:

Foster Financial Literacy for Youth, which enables the students to practice building

financial education milestones through the program.

The Students may utilize this study as a pioneer guide to behave financially

wisely in daily life by equipping them with a better level of financial literacy and

comprehension. It will help them have the knowledge and confidence to make

informed financial decisions. It enables individuals to wisely manage their finances,

credit, and savings. It will benefit them by educating them on the proper methods

for creating a budget, setting aside money, and controlling spending.

The Future Researchers may base their ongoing investigations on students'

financial literacy and behavior on the findings and outcomes of this study to

determine whether there have been any changes over time. This study can be

used as a reference by future researchers to gain a deeper understanding of the

subject of budgeting, saving, and controlling expenses, as well as cash

management, credit management, and savings management.

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THANK YOU!