Budgeting: As perceived by the students of the

Cauayan City Stand-Alone Senior High school

GR.11 TVL

By: Juliana Pua

Terrie Antonio
Marc Somera
Alexis Rivera
Evrein Avelino
Eziqiel Nicolas
George Edmilao
Jillian Villegas
Michelle Donato
Rodelio Dela Cruz
Luther King Dalope
Charles Vinz Pascua
Angelo Agustin
Kenneth Tejero
INTRODUCTION:

Free from the comforts of home, many students are experiencing being their own for the first
time. One of the challenges they face is budgeting. This becomes particularly problematic
when an unexpected budget item changes.This study focuses on budgeting and its importance
to the students of the Cauayan City Stand-Alone Senior High School, to examine if the
students possess budgeting skills, to find out how much money do the students spend weekly.

A greater knowledge about budgeting may help students and become more aware of how they
spend their money. The students have many different things to spend on, it includes but not
limited to school supplies, food, personal needs, and some if not most fails to manage money
properly. Money is important to our lives as a student as well as an individual since it is used
to buy the needs and wants of a person. The costs of the products in which the students buy
differ, the case is also the same as the daily allowance of a student. In some days, the daily
allowance that the parents give to the student is not enough to suffice the student’s needs.

Budgeting is one of the important financial skill that is essential for everyone, particularly
for students. As students prepare to transition to adulthood, budgeting becomes more even
more important to them. Budgeting includes planning and managing expenses to ensure that
the parent's monthly income is sufficient to cover their needs and wants. The purpose of this
study is to remind everyone that budgeting and its roles is important to the daily lives as a
student. Understanding how students perceive budgeting can provide insight on how to
encourage them to develop and maintain good budgeting habits, which can have long-term
financial benefits.

According to Norvilitis (et al., 2006), the more knowledge students have about their financial
responsibility and status the less likely they are to be in debt.As they go towards higher level
of education, particularly in senior high school, every student encounters one of the
challenging part of their life is to manage their allowance wisely. Many of them are getting
tough times to manage their moneys given by their respective parents or guardians because
being a senior high school student have similarities of being a college student. As money
serves as a necessity to every student, it is a need to put on their minds that they need to be
financially responsible. A kind of responsibility where an individual will be able to save and
budget his or her money and spend the money for important purposes. But the big dilemma
is that how will they do it? It is believed that one of the hardest part of budgeting the
allowance is the isolation of their wants from their needs. A number of students mistakenly
categorize their wants as a part of their “needs” because they cannot perceive what their life
is without it. But in the end, many of their needs are literally wants. As students do not have
the same economic status, others have only limited amount of money of which there exist a
distinction in their budget or financial planning.
STATEMENT OF THE PROBLEM:

The major objective of this study is to determine the perception of students about budgeting
and its roles and significance in their life. It aims to answer the following questions:

1. How much is the daily allowance of a senior high school student?

2. How do senior high school students spend their allowance?

3. Are the senior high school students in Cauayan City Stand-Alone Senior High School
knowledgeable enough in budgeting their allowance?

4. What are the problems encountered when one fails to budget his or her finances?

5. What are the benefits of budgeting to students?

SIGNIFICANCE OF THE STUDY:

This study will benefit the following:

Students: In this study, students will know the importance of budgeting and managing their
money.
Teachers: Through this, the teachers will be able to identify and understand the needs of the
students. Als, this study will inform the teachers if the budgeted allowance of the students is
enough for them to finish all the target requirements. Moreover, this study will help to
enlighten the teachers to be more considerate towards students’ concerns and needs.
School Canteen Management: They will have a clear bases in their pricing strategies that
may benefit both student and the canteen.
Parents: The data gathered here will give parents an idea whether what they give to their
children is enough and make necessary adjustment.
Researchers: The researches will be able to improve their knowledge about budgeting.
Future researchers: The result of this study can be used as a reference for future researchers
in collecting and gathering ideas and information that are essential to the study they will be
conducting for their research.

SCOPE AND DELIMITATION

This study is limited to the students of Cauayan City Stand-Alone Senior High school TVL
Students. A questionnaire will be conducted about the evaluations of the students about how
important budgeting is in their lives and how are they going to do it.
DEFINITION OF TERMS:

Allowance - a sum regularly provided for personal or household expenses.

Benefits - an advantage or profit gained from something

Budgeting - the process of creating a plan for how to spend money based on money based on
income and expenses.

Cost - require the payment of ( a specified sum of money ) before it can be acquired or done.

Cauayan City - a component city in the province of Isabela, Philippines.

Expenses - the cost required for something; the money spent on something.

Income - the amount of such gain received in a period of time.

Individual - intended for one person.

Money - something generally accepted as a medium of exchange, a measure of value, or a

means of payment.

Roles - the functions or purposes fulfilled by something or someone:

Researchers - a person who carries out academic or scientific research.

Significance - the importance or meaning of something.

Students - individuals enrolled in an educational institution to learn and develop skills.

Stand-Alone Senior High school - a type of educational institution in the Philippines that
offers senior high school education independently, without being affiliated with a junior high
school or college.

Salary - fixed compensation paid regularly for services.

Supply - the quantities of goods or services offered for sale at a particular time at one price.