I.

Research Title: The Factors of Financial Literacy and its Effectivity to Senior
High School Students of Manila Cathedral School.

A Research Paper Submitted in Partial Fulfillment of the Requirements of the

Course

Research in Daily Life 1

Submitted by:

Acebron, Daphne
Natividad, Gabriel Marco
Nucum, Francisco Tyrone
Tan, Alen
Ugadan, Stephanie
Valencia, Faith

Grade 11 – St. Bernadette Soubirous

Accountancy, Business, and Management (ABM)

Submitted to: Ms. Roseanne Nicole Egang

II. Statement of the Problem:

The objective of this study is to find the effectiveness of Students being

financially literate according to the factors and an attempt to solve the bad spending

behaviors of some Senior High School Students.

The study aims to answer the following questions:

How do these factors affect the Senior High School Student’s Financial Literacy?

A: Experience

B: Environment

Do the students have a budgeting plan? (Experience)

-If so, at what age or when did they start?

Do the strands students choose influence their techniques in managing their allowance?

(Environment)

What will be the effect of having financial literacy to Senior High School Students?

Based on the result of the study, what are the different recommendations to improve our

techniques in budgeting and change spending behaviors?

III. Research Locale:

This research will be held in Manila Cathedral School located at Tondo, Manila.

The participants of this research will be the selected Senior High School Student of the

said school and the respondents will be given a survey and will be answering inside

school premises only. The study will be conducted in Second Semester of the Academic

Year 2022-2023.

IV. Significance of the Study:

For Senior High School Students: Improved financial decision-making skills: The study
can provide senior high school students with knowledge and skills necessary to make
informed financial decisions. Financial literacy education can help students to manage
their finances, develop saving habits, and avoid debt traps.

For parents: The findings of this study can help them understand the financial needs
and behaviors of their children, and enable them to provide better guidance and support
in developing good spending habits.

For teachers: This study can provide insights on how to design and implement financial
literacy programs that are relevant and effective in helping students manage their
finances.

For Future Researchers: They can use the information gathered in this study to
formulate theories, or use it to explore and discover new information about students
managing their personal allowance.
For Future Business Owners: Better preparation for future careers financial literacy is a
critical life skill that can help students to succeed in their future careers. Having a good
understanding of finance and economics can give students an edge in the job market
and help them succeed in their careers.

V. Related Literature:

According to Failaman (2018), budgeting our allowance is one way to

demonstrate to our parents that we are responsible and trustworthy. It was
recommended during the progressive era (1890 - 1920) to give allowance to children in
order to generate/introduce respect for money at a young age. This is a wise decision
because it benefits both children and parents. Children don't have to ask for money to
get things they want and need. Parents can use this as an incentive for their children to
perform better in school, complete chores, and so on (Dehan, 2022). Bad spending
behaviors could affect us not only as high school students, but also as young adults.
Overspending can become a habit when done frequently. (Money Habtitudes 2020;
Pascual, 2021).

The Forbes article discusses the importance of having a weekly budget for
adults, even if they have a steady income. It suggests creating a budget by considering
essential expenses, discretionary spending, and savings goals. The article recommends
allocating a set amount for discretionary spending and highlights the benefits of setting
aside a portion of income for savings. Additionally, the article provides tips for sticking to
a budget and adjusting it as necessary. Overall, the article emphasizes the importance
of responsible financial planning and management.

An article from Course Hero discussed the factors that influence the daily
allowance of Grade 11 students. The study was conducted among students in a
particular school, and data were gathered through survey questionnaires. The factors
that were found to affect the daily allowance of students include their family income,
academic performance, and lifestyle choices. The study also reveals that students who
receive a higher daily allowance tend to spend more on leisure activities, while those
with a lower allowance are more likely to use their money for necessities such as
transportation and food. The findings suggest that students' daily allowance is
influenced by a variety of factors and that it plays a significant role in their daily lives.

VI. References:

Dehan A. (2022). The pros and cons of giving an allowance.

Factors Affecting the Daily Allowance of Grade 11 Students.docx - 1 Chapter I
Introduction in such costly and competitive society and world no one of |
Course Hero. (2021, June 22).
https://www.coursehero.com/file/98039899/Factors-Affecting-the-Daily-
Allowance-of-Grade-11-Studentsdocx/?
fbclid=IwAR0AnORbUHpFtLVJpXCdaoPSjUcrHjKOScGAjpJ4tAQcNE2dN
Ldm5kHFI3s
Failanman K. N. (2018). Daily allowance: how does it affect the academic
performance of grade-11 students in Mandurriao National High School.
https://www.academia.edu/36152521/Research_Study_12_ABM_?
fbclid=IwAR04QBKetn1pVc5grs1rDhDZ878to409Mfu8pjT8SQ_zSSj5L2aw
-Ef1dOo
Pascual, H. (2021, June 4). A Comparative Study about the Spending Habits of
Senior High School and College Students during the Pandemic.
https://www.academia.edu/49121435/A_Comparative_Study_about_the_S
pending_Habits_of_Senior_High_School_and_College_Students_during_t
he_Pandemic
Rocket Money. (n.d.). https://www.rocketmoney.com/learn/personal-finance/the-
pros-and-cons-of-giving-an-allowance
Smith, K. A. (2020, September 18). Minding Your Budget: A Weekly Allowance
for Adults? Forbes Advisor.
https://www.forbes.com/advisor/banking/weekly-allowance-budget-for-
adults/