According to the study, students had to deal with a variety of expenses, such as tuition,

housing, classes, and everyday living expenses. The students reported that they lacked

resources and assistance for handling their finances, as well as having little knowledge of money

matters Jones et al. (2017)

Underto Ahsan (2013) the financial perception is very important for the undergraduate

students. For the developing nation, rising cost of living is the key to financially equip in financial

decision making for the undergraduate students. financial literacy, which can be defined as an

understanding of how to earn, manage, and invest money, has a critical impact on students’

ability to make smart choices about which institute of higher education to attend, what to study,

how to pay for college, and how to manage student loan debt after graduation. Students who

are financially literate are better equipped than those who are not to make wise choices

regarding school selection, what degrees to pursue, and how to pay for postsecondary

education. The choices students make while in school often have a direct impact on their

financial futures.

Ansong and Gyensare (2012) declare that the study, Determinants of institution Working

Students' Financial Understanding at the University of Cape Coast Ghana, really focuses on

looking into the issue to establish the financial knowledge of working students attending the

institution. This indicates that the study's goal is to collect data from potential study

respondents in order to learn more. This study, Financial Education on the Financial Knowledge

of High School Students, demonstrated in a good way how age and work history were closely

elated to one another in describing the subject of financial understanding.

 In the college-age population, the top reason (mentioned by 37.58%) for not going to

college or university was the high cost of higher education; moreover, about 16.0% of those

who opted not to pursue higher education report that they did so in order to look for work to

earn money for their families (Reyes et al., 2015). In the current study, we hypothesized that

financial stress would be negatively related to subjective well-being, or specifically, life

satisfaction of Filipino students. There are currently no published studies that show this

relationship with a Filipino sample. One recent study did not actually measure financial stress,

but showed that sense of poverty was associated with the experience of psychological distress

among students (Reyes & Yujuico, 2014).

Many of the students prefer the option of borrowing or using a credit card to cover the

cost of education and living (Lim et al., 2014). In this context, this situation can also affect the

poor students. Especially in recent years, there is a lot of research about the financial situation

of students Chan et al., (2012).

The concept of financial struggles negatively affects the way people live and the societies

in parallel. In particular, the phenomenon of material poverty, which has a high impact on

mentally affecting individuals negatively affects people physically as well Tasdemir et al., (2014).

The youth of individuals is one of the most important parts of their lives and forms the basis for

future periods (Bas, 2017). It is thought that the material deprivations that individuals will

experience in these periods will adversely affect their thoughts about life. Many studies linking

the concept of happiness and peace to the financial situation show that there is a positive but

not strong relationship between these two concepts Noland et al., (2015).
 The two notions' constructive interaction affects people's ability to maintain a minimal

standard of living, university students have a period of freedom during which they can make

their own judgments and apply them. Students at universities make their own free-will

economic judgments throughout this time. Due to their lack of information and expertise

regarding financial expenses, university students typically suffer financial difficulties.

Universities ought to offer financial education. There is no expectation that university

education will be the sole element capable of resolving the money issue. University education

should only be viewed as a crucial component of the entire. Individuals' economic education

should be given more weight in this situation. and got the problem-solving process going earlier

the study's findings indicated that the participants' financial situation was somewhat poor.

The findings of a study by Daud et al. (2018) indicate that higher education students are

more likely to have a negative attitude toward are struggling financially and unable to pay for

their expensive living expenses. According to the findings of the research, According to Palm

(2017), many university students' credit card usage habits are troublesome. That is According to

the research that has been done, university students have a poor financial situation.

Fry (2014) looked into the financial situation of young students. The study's findings

indicated that as people aged, their financial well-being declined. In this way, it can be seen that

the findings of Fry and those of this study within have some similarities, the age variable's

range.

Financial understanding equips people with the required knowledge, abilities, and

instruments to make informed decisions. Increasing financial knowledge, making confident

financial decisions, and effectively managing one's own wealth for better financial services to be

demanded (Ali, 2013).

Numerous researchers have drawn attention to the need for policy and programmatic

interventions that address the financial challenges faced by students in recent years as a result

of the extensive study of these issues. Goldrick-Rab, (2016)

The influence of financial stress on students' academic results has been the subject of

some studies. According to a systematic evaluation of the research, financial stress is

consistently associated with worse academic performance and higher dropout rates Rosinger et

al., (2017).

The contribution of financial education and knowledge to student financial well-being

has been the focus of more research. According to a study of college students, those who got

financial education had greater financial awareness, less debt, and more responsible financial

habits (Mandell & Klein, 2016).

The difficulties that students experience financially have also been examined from the

standpoint of mental health and wellbeing. According to research, financial stress can have a

students' mental health, including greater anxiety, depression, and decreased overall well-being

(Eisenberg et al., 2016).

According to one study, students' psychological discomfort was much higher when they

were under financial stress, especially those from low-income families (Hefner, et al., 2018).
 The study emphasizes the demand for campus-based mental health services and

financial aid initiatives that are geared toward students from low-income and financially

troubled backgrounds.

Financial stress was discovered to be a prevalent source of worry and uneasiness in one

study that involved interviews with low-income students (Gonzalez, 2016). The participants

described feeling alone and excluded from the experience, juggling many jobs and obligations,

and struggling to make ends meet.

Participants talked about negotiating challenging application procedures, dealing with

unforeseen costs, and experiencing embarrassment and stigma because of their financial

condition (Vargas, Rankin, & Navarro, 2014).

The study emphasizes the demand for more open and transparent financial aid policies

that cater to students' overall requirements and take into account the particular difficulties

experienced by low-income and first-generation students.

Peer support and mentoring were identified as important sources of emotional and

practical help in a study done with low-income and first-generation students. The significance of

feeling a connection to and sense of belonging to others who understand one's problems and

experiences was discussed by participants (Lindsey & Petrie, 2017).

The significance of connecting with people who understand and share their struggles

and sense of belonging. Emphasize the need for policies and programs that support students'

holistic needs, acknowledge the particular difficulties experienced by low-income and first-

generation students, and place a priority on social support and community building.
 Velasco and Cordero (2021) conducted a study investigating the monetary difficulties

encountered by senior high school students, including those enrolled in the HUMSS track. The

results of the research revealed that the primary financial struggles faced by the participants

were the expensive nature of education, transportation costs, and insufficient financial means.

Furthermore, the study discovered that students in the HUMSS track encountered more

pronounced financial obstacles in contrast to students in other tracks, primarily due to the

requirement for supplementary resources for research, projects, and field trips.

According to Grohmann and Menkhoff (2015), an increasing number of individuals are

making unwise decisions in managing their personal finances, which indicates that the impact of

inadequate financial challenges is becoming more serious.

According Stangl and Mathews (2013) The main goal was to find places and groups with

inadequate understanding of financial matters, and to help pinpoint areas where financial

challenges could be better designed or explained. To gauge the personal finance knowledge of

young people in New Zealand, and found that their financial literacy had improved. Gibson et al.

(2014).

Some students still have trouble meeting the costs of their education despite these efforts.

According to a study by Gonzales and Santos (2019), students who lived far from school or had

long commutes faced additional financial burdens due to transportation costs, while those who

were poor or came from big families faced particular difficulties juggling their financial and

academic obligations. Another study by Bulan and De Jesus (2020) investigated the financial

stress and coping mechanisms of college students in a private university in Quezon City and
found that financial strain was a significant predictor of anxiety and depression. Regarding

Filipino high school students, some studies have addressed the economic challenges they face,

albeit not necessarily in the HUMSS program or in the same school as the current study. For

instance, a study by Cayabyab and Ignacio (2018)

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Education, 10(1), 42-48.

Ahsan, M. H. (2013). Financial literacy research on undergraduate students in Malaysia: Current

literature and research opportunities. International Journal of Education and Research, 1(11), 1-12.

Ansong, A., & Gyensare, M. A. (2012). Determinants of university working-students' financial

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Bernardo, A. B., & Resurreccion, K. F. (2018). Financial stress and well-being of Filipino students:

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