Effect of having Financial Problem on the Academic Performance of Selected ABM

Students

A Research Presented to the Faculty of

Franklin Delano Roosevelt Memorial School

Sto. Cristo, Angat, Bulacan

In Partial Fulfillment of the Requirements in

By:

Carandang, Shane H.

Castillo, Kurt A.

Dagoros, Eugene A.

Galamiton, Raiven

Lizaso, Luis

Ocampo, Jericho B.

Placido, Patricia C.

Plasabas, Mark C.

1
 Singian, Pauleen

MAY 2023

Chapter 1

The problem and it’s background

Introduction

Do you think money is important? People are currently having financial

difficulties, and a lack of school supplies is another issue that affects children. Added two

extra years for senior high school; students who wish to work but are underage are unable

to do so because they are underage; and students whose parents cannot afford to pay for

their education because of a disability. Also, other students will be less informed if they

do not receive financial aid. Making money for necessities like food, supplies, and school

materials these days is challenging. Given that stress has been shown to negatively

impact student persistence (Letkiewicz, in press), increased scrutiny of graduation rates

from federal and state governments should motivate administrators to understand the

causes of stress among students. More specifically, stress resulting from personal

financial difficulties is worth exploring in more detail given the challenge college

students and recent graduates face regarding the growing burden of student loans.

According to Dang and Bulus (2015) Education is a high-cost social service therefore

insufficient financial support will be a problem for students to enhance themselves in

academics thus leading to poor academic performance. Most students struggle with

school expenses because they come from underprivileged families. Thus, students have to

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 make difficult decisions whether to spend money on food or other essential needs. With

the lack of finance, students faced financial problems to adapt to the high cost of living.

Financial is a severe issue that lingers among students and might affect their academic

performance. Therefore, the purpose of this study is to identify the relationship between

financial problems and academic performance faced by the students in Angat, Bulacan.

Background of the study

At this time, some students are struggling with school expenses, and another

problem for students is a lack of school equipment. Also added are two more years for

senior high school, and those students who want to work but are underage can’t work

because they are underage, and their parents can’t afford to educate their child due to a

disability on financial support, so if other students lack the financial support, they will be

less educated. Nowadays, it is difficult to make money for school supplies, foods,

supplies, and more (Dang, 2020).

Financial problem is a situation where money worries are causing stress. However,

every student that facing financial problem lately and it became a major problem for

student. Financial problems faced by students are known as they do not have enough

money for their daily expenses, where money worries are causing them stress and

anxiety. After that, financial problems will bring impact to both mental and physical

health. When a student is having an ongoing financial stress, it will affect their personal

life such as sleep problems where they worry about their financial status and could not

3
 fall into sleep. Financial problems will also affect student’s mental health such as facing

depression and anxiety. Study by (Thomas Richardson, 2013), there is a strong

relationship between financial problems and depression. Moreover, due to inflation and

trade war, it had made most of the country facing recession and increases the cases of

student facing financial problem. Hill et al., (2004) also argued that the financial status of

parents does not only affect the academic performance of the child, but also makes it

impossible for the child to compete with his counterpart from high financial status under

the same academic environment. According to Smith, Fagan and Ulvund (2002)

asserted that significant predictor of intellectual performance of a child at age of 8 years,

included parental socio-economic status. Other researchers had posited that parental

financial status could affect school children as to bring about flexibility to adjustment to

the different school schedules (Guerin et al., 2001). Civic education and empowerment

involve space and resources outside the classroom, this book focuses on funding. The

book leaves aside adult financial literacy education, a method largely tied to credit

counseling, given the focus on financial and civic education in schools. This chapter

presents a dominant consumerist view of financial literacy education generated in textual

material from a number of prominent organizations: the Organization for Economic

Cooperation and Development (OECD), the Canadian Federal Government, the Investor

Education Fund (IEF), Junior Achievement, the Ontario Institute for Educational Studies

(OISE) and the Ontario Provincial Government Arthur (2012).

4
 Statement of the Problem

The study sought to determine the correlation of financial problems to the academic

performance of senior high school students in F.D. Roosevelt Memorial School.

Specifically, this study sought answers the following questions:

1. Financial problem does affect the studies

2. How do financial problems affect academic performance?

3. What are the effects of financial to the academic performance of students?

1.What is the ethic profile of respondent in term of:

1.1 name (optional).

1. 2 ages

1. 3 genders

1. 4 year\section

1. 5 daily allowances

Significant of the Study

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 This study will inform and make teenager aware how teenage pregnancy can affect them

and also, we researchers believe that this study will provide information to every student

regarding on our topic.

Senior High Students – They are the ones who experience the financial problem

information to have knowledge about these financial problems.

Community – The stress of student is appearing to connect much of this research, stress

is defining leads one to understand the role of stress in the development of the persons

personality both physical and emotional condition

Future researchers – To make clear why your study was needed and the specific

contribution your research made to furthering academic knowledge in your field.

Teachers – For they have the awareness of the students that the financial problem is the

reason why some student will not go to school and considerate the side of student.

Scope and Delimitation of the Study

This study is limited to finding out the factors affecting the financial problem of

students. Hence, it is further delimited to the male and female students in Angat enrolled

in the second semester with the number of eighty five (85) respondents school year

2023-2024. Each of the respondents is given a questionnaire to answer questions about

financial problems and its effects on their academic performance.

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 Chapter II

Review of Related Literature and Conceptual Framework

This chapter presents the foreign and local literature. This study will provide better

understand regarding our topic.

Related studies and Literature

When students face financial problems to cope with the high cost of living, they

are more exposed and vulnerable to health problems. Therefore, here comes the issue of

whether students who have financial problems can handle the stress of managing their

daily lives and finances. According to Widener (2017) mentioned that there are two

ways of how a financial problem could affect the students' academic performance which

are health problems and having to work part-time. Widener (2017) further added that

financial problems lead to health problems such as anxiety which then led to negative

behaviors such as addiction to alcohol or uncontrolled shopping, hence making the

students lose their focus on their academics. According to Asri et al. (2017) stated that

7
 poor financial management could cause an individual to be unable to control stress and

thus it affects their daily life such as health by making them depressed and becoming

physically ill. This can be further supported by the study of Asri et al. (2017) which

stated that one of the causes of stress among students is because of their financial

problems in which the students tend to feel dizzy and have anxiety that will eventually

create tension with them.

Local Literature

Experiencing financial stress is not unlikely among Filipino students, and

government statistics suggest that a significant proportion of the school-age population

experience financial difficulties. Starting at the basic education level, almost 20% of

Filipino children who dropped out of school mentioned insufficient financial resources as

the main reason for quitting school (Philippine Statistics Authority, 2015). Dropping out

of school was most probable among 17-year-olds, particularly among those from the

lowest income families (Reyes, 36 Financial Stress and Well-being Tabuga, Asis, &

Mondez, 2015). In the college- age population, the top reason (mentioned by 37.58%) for

not going to 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. 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

8
 stress but showed that sense of poverty was associated with the experience of

psychological distress among students (Reyes & Yujuico, 2014).

Foreign Literature

Avard et al. (2005) reveals that graduates from high schools lack the

understanding of basic personal finance issues. This emphasizes that most students find it

difficult to balance a checkbook and lack the basic principles in finance (Avard,

Manton, English and Walker, 2005). Another academic work conducted by A National

Council on Economic Education study (2005) indicates that 53 per cent of

senior high students performed woefully on the basic quiz on economics and personal

finance in the United States. This stresses that there is inadequate personal finance among

senior high students and that it has had a negative effect on their financial decisions and

behavior.

High school students therefore leave school without the basic skills to manage

their personal financial affairs, putting them at a high risk for not being able to plan

responsibly for their financial future. The ability of senior high school students to deal

with financial difficulties is dependent on financial exposure gained before entering

college (Lyons, Scherpf, and Roberts, 2006).

Financial literacy used for the study was centered on basic money management,

Worthington (2006) used logit regression 17 models to forecast personal financial

literacy of Australian adults. The study reveals that personal finance tends to be adequate

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 among individuals aged between 50 and 60 years, professionals, business and farm

owners.

Conceptual Framework

This show the relationship between the different factors and academic

performance. It show that financial problem is an independent variables and Academic

Performance is an dependent variables.

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 Independent variables Dependent variables

Financial Problems of
Academic Performance
ABM Students

Figure 1. Conceptual Framework of the study

Theoretical Framework

According to Crocker and Luhtanen (2003). The unique effects of level of

self- esteem and contingencies of self-worth assessed prior to college on academic,

social, and financial problems experienced during the freshman year were examined in a

longitudinal study of 642 college students. Low self-esteem predicted social problems,

even controlling for demographic and personality variables (neuroticism, agreeableness,

and social desirability), but did not predict academic or financial problems with other

variables controlled Academic competence contingency predicted academic and financial

problems and appearance contingency predicted financial problems, even after

controlling for relevant personality variables. We conclude that contingencies of self-

worth uniquely contribute to academic and financial difficulties experienced by college

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 freshmen beyond level of self-esteem and other personality variables. Low self-esteem,

on the other hand, appears to uniquely contribute to later social difficulties. According to

Muizzuddin, et al, 2013. Financial Literacy; Strategies and Concepts in Understanding

the Financial Planning with Self-Efficacy Theory and Goal Setting Theory of Motivation

Approach is still room for improvement in order to improve people’s access to financial

services.

This study is aimed at students. When trying to decide how to best handle their

financial issues and worry about paying for school, many people start to wonder if they

missed anything in school. We are expected to manage our finances and property as

adults. Therefore, either a lot of individuals skipped that lesson, or maybe it was never

offered. The good news is that you can resolve your financial issues without having a

degree from an Ivy League institution. You can challenge yourself with the following 9

steps and 8 self-study tasks from the school of common cents if you want to resolve your

financial and debt issues

Research Hypothesis

Null – There is no significant relationship between the students that effect of financial

problem on the academic performance of students in Angat Bulacan.

H1 – There is significant relationship between the students that effect of financial

problem on the academic performance of students in Angat Bulacan.

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 Definition of Terms

Financial Problem - is the avenue through which students' bills are paid. If their finances

are not adequate, the situation may tend to affect their academic performance adversely.

If, on the other hand, their financial needs are met adequately, probably their academic

performance may be enhanced.

Academic Performance - is defined or regarded as participants ‘examination grades at

the end of a given duration. It could also be seen as the level of performance in a

particular field of study. Higher scores indicate better academic performance.

Anxiety - is an emotion characterized by feelings of tension, worried thoughts, and

physical changes like increased blood pressure.

Stress – is defined as a state of worry or mental tension caused by a difficult situation

Depression – It is characterized by persistent sadness and a lack of interest or pleasure in

previously rewarding or enjoyable activities. It can also disturb sleep and appetite.

Tiredness and poor concentration are common.

Academic Environment – A number of diverse factors significantly influence the way

students perceive and experience their education.

Financial Literacy – used for the study was centered on basic money management.

Chapter III

Research Methodology

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 This chapter are consisting of the details regarding to the methods and techniques

that was used by the researchers which are the research design, sampling techniques,

research instrument, data gathering procedure as well as the statistical treatment of

the data that is correlated in the analysis and interpretation of the study.

Research Design

The quantitative-correlation method was used to find out the relationship

between the problems encountered by the respondents senior high ABM students.

Researchers will use it to measure the seriousness of the problems encountered by the

students in their financial situation and how it affects their academic performance. We

also used the survey method in certain groups (age, gender, grade level). The quantitative

method explains phenomena by collecting numerical data that is analyzed using

mathematically based methods, in particular statistics. This makes the correlation-

quantitative approach appropriate for the study because we interpret the data's percentage

and determine if there is a relationship between the problems encountered and the profile

variables.

Research Locale

The study was conducted at Franklin Delano Roosevelt Memorial School. A

dependently managed private school in Guzman St., Sto. Cristo Angat Bulacan. This

school comprises a senior high school and a junior high school, and it offers two tracks,

which are Accountancy, Business, and Management (ABM) and Science, Technology,

14
 Engineering, and Mathematics (STEM). It is located at Guzman St., Sto. Cristo Angat

Bulacan.

Research Participants

The study was conducted at the Franklin Delano Roosevelt Memorial School.

All the participants are students who are managing financial problems, and the

participants were selected from ABM grade 11 and 12 students at Franklin Delano

Roosevelt High School. If initially interested in taking part, a meeting was arranged

where they could be fully briefed regarding the requirements of the study. All participant

data was collected between April and May 2023. A total of eighty-five (85) people were

approached. This group comprised men and women. The age of the participants ranged

from sixteen and above, and all were affected by financial problems with their academic

performance. The ethics committee of the faculty gave the study protocol its approval for

the research to be conducted.

Data Gathering Procedure

The purpose of this study is to conduct field research to collect data from the

chosen senior high school students through the use of questionnaires. Questionnaire

refers to the data collection instruction in which respondents are allowed to answer the

same set of questions in a prearranged manner (deVaus 2002). The demographic

information on age, gender, grade level, and daily allowances was covered in the first

section of the questionnaire for this study. The second section of the questionnaire

covered the students’ money management strategies in terms of saving and spending. Ten

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 questions were posed to the respondents. The Likert scale was used to evaluate the

second section of the questions. A questionnaire is typically used in survey design

because it offers an effective way to collect large amounts of data or responses from the

selected sample frame. It is also suitable for descriptive or explanatory research because

it allows the researcher to identify and describe variables in various contexts or to look

into and determine the relationships between variables. The responders were given the

assurance that all information would be kept in the strictest confidence and would only be

used for academic purposes only.

Research Instruments

The researchers used the survey questionnaires as an instrument to gather

primary data on the respondents. A questionnaire is a research instrument consisting of

questions and other prompts for the purpose of gathering information from respondents.

It used the sampling technique of random sampling because it got a random number of

respondents from the Franklin Delano Roosevelt Memorial School (FDRMS) to get the

answers of the students we interviewed.

Data Analysis

The respondents are Accountancy, Business, and Management (ABM) Grade 11

and 12 students in Franklin Delano Roosevelt Memorial School. The sample size of the

study is 85 students which are selected from the school using Slovin’s Formula technique

will be employed in this research where the samples are gathered in a process that does

not give all the individuals in the population equal chances of being selected. This

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 technique allow researcher to answer research questions and to achieve research

objectives by making statistical inference from the features of the population studied

stratified sampling is the probability sampling technique wherein the researcher divides

the entire population into different subgroups or strata, then randomly selects the final

subjects proportionally from the different strata. One questionnaire was given to which

form the total sample size of eighty-five (85) respondents.

Slovin’s Formula technique formula:

n = N / 1 + N(e) ²

n – Sample Size

N – Population

e – Margin error

Simple Percentage The demographic profile variables of the respondents were analyzed

using the simple percentage with the following formula:             

P= F/N(100)

P = Percentage

F = Frequency of each category

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 N = Total number of respondents

100 = Constant multiplier

Weighted Mean. The statistical tool was used to compute the weight of the responses in

the questionnaire assigned by the respondents during the actual data

Gathering procedure. The formula for the weighted moon is follows:

WM= ΣFW / N

Where:

WM = Weighted Mean

Σ=Summation symbol

F = Frequency for each option

W = Assigned weight

N = Total number of frequencies

The following are the corresponding verbal interpretations for the weighted mean,

Weighted Mean Corresponding Weight

Remarks
2.56 Strongly Agree 3

5.06 Agree 5

2.84 Neutral 4

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 1.05 Disagree 2

0.26 Strongly Disagree 1

Chapter IV

Presentation, Analysis, and Interpretation of problems

This chapter presents the interpretation of the data gathered by the researcher.

The presentation, analysis, and interpretation of these data were reinforced by tables and

were arranged in the same order as they were presented in the statement of the problem

and the researcher made instrument. The respondents who are part of this research are the

ABM Senior High school Students in Franklin Delano Roosevelt Memorial School Inc.

SY 2022-2023.

ABM Senior High Students

Grade/section Sample size Percentage

11 Jupiter 31 36.47 %
11 Venus 23 27.06 %
12 Neptune 16 18.82 %
12 Mercury 15 17.65 %
Total: 85 100 %
Table 4.1

Table 4.1 shows the percentage of each Accountancy, Business, and

Management (ABM) students: Grade 11 – Jupiter at 36.47%, Grade 11- Venus at 27.06

%, Grade 12 – Neptune 18.82% and Grade 12 – Mercury at 17.65%

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 Grade/Section Gender: Female Gender: Male
11- Jupiter 17 14
11- Venus 9 14
12- Neptune 11 5
12- Mercury 8 7
Total: 45 40

Gender of Sample size

Table 4.2

Table 4.2 shows the percentage of Gender of each Accountancy, Business, and

Management (ABM) students: Grade 11 – Jupiter Female at 17 or 37.78% and Male 14

or 35%. Grade 11- Venus Female at 9 or 20 % and Male 14 or 35%. Grade 12 – Neptune

Female at 11 or 24.44 % and Male 5 or 12.5%. Last, Grade 12 – Mercury Female at 8 or

17.78%, Male 7 or 17.5%.

Allowance of ABM Students

Allowance Jupiter Venus Neptune Mercury

50- 100 16 16 6 13
100- 200 13 5 7 1
200-300 2 2 3 1

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 Table 4.3

Table 4.3 shows the allowance of each Accountancy, Business, and Management (ABM)

student: a total of 51 allowances for 50–100, 26 allowances for 100–200, and 8

allowances for 200–300.

Presentation of the data

1. Financial problem affects the academic performance of the students

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

∆ Strongly Disagree

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 Graph 1 shows the results of the percentage of Selected ABM students grade

11 and grade 12. So, 33% answered strongly agree, 53% answered agree, 11%

answered neutral, 3% answered disagree, and lastly 0% answered strongly

disagree.

2. Financial problem can affect your personality

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

22 ∆ Strongly Disagree
 Graph 2 shows the results of the percentage of Selected ABM students grade

11 and grade 12. So, 15% answered strongly agree, 27% answered agree, 37%

answered neutral, 18% answered disagree, and lastly 3% answered strongly

disagree

3.Financial problem are cause why some students do not attend in school

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

∆ Strongly Disagree

23
 Graph 3 shows the results of the percentage of Selected ABM students grade

11 and grade 12. So, 34% answered strongly agree, 39% answered agree, 14%

answered neutral, 12% answered disagree, and lastly 1% answered strongly

disagree.

4.A person can study well even with a financial problem.

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

∆ Strongly Disagree

24
 Graph 4 shows the results of the percentage of Selected ABM students grade 11 and

grade 12. So, 18% answered strongly agree, 43% answered agree, 24% answered

neutral, 7% answered disagree, and lastly 8% answered strongly disagree

5.Education can make a better life in the future

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

∆ Strongly Disagree

25
 Graph 5 shows the results of the percentage of Selected ABM students grade 11

and grade 12. So, 46% answered strongly agree, 41% answered agree, 12% answered

neutral, 0% answered disagree, and lastly 1% answered strongly disagree.

6.Having financial problem affects your surrounding.

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

∆ Strongly Disagree

26
 Graph 6 shows the results of the percentage of Selected ABM students grade 11 and

grade 12. So, 15% answered strongly agree, 34% answered agree, 32% answered

neutral, 14% answered disagree, and lastly 5% answered strongly disagree

7.People that disobey the rights because of financial problem.

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

∆ Strongly Disagree

27
 Graph 7 shows the results of the percentage of Selected ABM students grade 11 and

grade 12. So, 9% answered strongly agree, 20% answered agree, 54% answered

neutral, 14% answered disagree, and lastly 3% answered strongly disagree

8.Some people not educated because of financial problem.

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

∆ Strongly Disagree

28
 Graph 8 shows the results of the percentage of Selected ABM students grade 11 and

grade 12. So, 6% answered strongly agree, 48% answered agree, 35% answered

neutral, 10% answered disagree, and lastly 1% answered strongly disagree

9.A students should have financial goals and strive to achieve it.

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

∆ strongly Disagree

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 Graph 9 shows the results of the percentage of Selected ABM students grade 11

and grade 12. So, 18% answered strongly agree, 63% answered agree, 14% answered

neutral, 5% answered disagree, and lastly 0% answered strongly disagree

10.We students should make other ways to go school when we don’t have enough

money.

∆ Strongly Agree

∆ Agree

∆ Neutral

∆ Disagree

∆ Strongly Disagree

30
 Graph 10 shows the results of the percentage of Selected ABM students grade 11

and grade 12. So, 24% answered strongly agree, 62% answered agree, 8% answered

neutral, 6% answered disagree, and lastly 0% answered strongly disagree

Chapter V

SUMMARY OF FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

In this chapter, an overview of the most recent statistical findings is presented in

detail. Followed by a conclusion and recommendation that the researchers may offer

based on the study’s results.

Summary of findings

The results of the data gathering procedure are based on the statement of

the problem provided in this study. The respondents of this research consist of eighty five

(85) respondents of ABM senior high school students.

Grade/section

Total of 86 respondents, Grade 11 – Jupiter at (31) 36.47%, Grade 11- Venus at (23)

27.06 %, Grade 12 – Neptune (16) 18.82% and Grade 12 – Mercury at (15) 17.65%

Gender

Total of 85 respondents, 45 (53%) were female and 40 (47%) were male.

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 Allowance

Total of 51 allowances for 50–100, 26 allowances for 100–200, and 8 allowances for

200–300.

Question 1. Financial problem affects the academic performance of the students

33% answered strongly agree, 53% answered agree, 11% answered neutral, 3% answered

disagree, and lastly 0% answered strongly disagree.

Question 2. Financial problem can affect your personality

15% answered strongly agree, 27% answered agree, 37% answered neutral, 18%

answered disagree, and lastly 3% answered strongly disagree.

Question 3. Financial problem are cause why some students do not attend in school

34% answered strongly agree, 39% answered agree, 14% answered neutral, 12%

answered disagree, and lastly 1% answered strongly disagree.

Question 4. A person can study well even with a financial problem

18% answered strongly agree, 43% answered agree, 24% answered neutral, 7% answered

disagree, and lastly 8% answered strongly disagree.

Question 5. Education can make a better life in the future

46% answered strongly agree, 41% answered agree, 12% answered neutral, 0% answered

disagree, and lastly 1% answered strongly disagree.

Question 6. Having financial problem affects your surroundings

15% answered strongly agree, 34% answered agree, 32% answered neutral, 14%

answered disagree, and lastly 5% answered strongly disagree.

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 Question 7. People that disobey the rights because of financial problem

9% answered strongly agree, 20% answered agree, 54% answered neutral, 14% answered

disagree, and lastly 3% answered strongly disagree.

Question 8. Some people not educated because of financial problem

6% answered strongly agree, 48% answered agree, 35% answered neutral, 10% answered

disagree, and lastly 1% answered strongly disagree

Question 9. A students should have financial goals and strive to achieve it.

18% answered strongly agree, 63% answered agree, 14% answered neutral, 5% answered

disagree, and lastly 0% answered strongly disagree

Question 10. We students should make other ways to go school when we don’t have

enough money

24% answered strongly agree, 62% answered agree, 8% answered neutral, 6% answered

disagree, and lastly 0% answered strongly disagree

Conclusion

1. Based on the survey that came out, half of students answered agree that financial

problem affects their academic performance

2. Some of students answered neutral to the financial problem can affect your

personality.

3. Mostly, the answer of third question is agree and strongly agree.

33
 4. The majority of students stated that a person can study well even with a financial

problem.

5. Most of the students answered strongly agree and agree that Education can make a

better life in the future.

6. Most of the students answered strongly agree and agree but there’s also some students

answered neutral to the questions having financial problem affects your surrounding.

7. Half of the students answered neutral that people disobey the rights because of

financial problem.

8. It appeared in the survey that some people not educated because of financial problem.

Mostly, they answered agree and neutral.

9. Based on the survey that came out, 63% answered agree that a students should have

financial goals and strive to achieve it.

10. The majority of the students stated that a students should make other ways to go

school when they don’t have enough money.

Recommendation

These are the recommendation of the study

One of the happiest days for most senior high students is when they start senior

high. When you reach senior high school, you must leave your parents’ home and

establish your own independence. Some pupils even get the opportunity to relocate to a

new town or city. All youngsters eagerly anticipate their time in school, where they will

meet new people and create new memories. For some students, happiness wanes quickly.

34
 Senior high school might not be at all what they had anticipated. A few weeks into senior

high, you can start to experience some issues that make life in high school a little

challenging and uncomfortable. Financial difficulties are among the issues that senior

high school students encounter most frequently. Financial issues among senior high

school students may experience financial difficulties as a result of using debit and credit

cards, which can encourage overspending, failing to create a spending plan or budget, and

accruing debt due to high and prohibitive tuition costs. Most senior high school students

experience financial difficulties due to indebtedness as a result of increased tuition,

housing, food, supply, and transportation costs. As a result, they borrow money to cover

the rising cost of surviving in senior high school..

Several approaches can be taken to solve financial issues.

1. You can submit an application for scholarships and jobs that will lessen your

financial burden for tuition. As a full-time senior student, you might have to pay for

campus parking, books, and other expenses. Hours of credit. For the majority of your

expenses, you can search for information on grants that you can apply for.

2. Find out about the various possibilities you can think about on your student website

or at the counseling office. Applying for grants and scholarships might help you pay

for your education more affordably, and you could think about hiring a specialist to

assist you find the scholarship that best meets your needs.

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 3. Look for a part-time job that will help you earn money for necessities and basic needs.

You just have to make time management to do your job and schoolwork and make no

distractions.

Reference

Dang and Bulus, (2015).

Education is a high-cost social service

https://eprints.kuptm.edu.my/1788/

Dang, (2020)

Students struggle

https://bmcgastroenterol.biomedcentral.com/articles/10.1186/s12876-020-01548

Hill et al., (2004)

36
 Parental involvement

https://journals.sagepub.com/doi/10.1111/j.0963-7214.2004.00298.x

Thomas Richardson, (2013)

Strong relationship between financial problems and depress.

Smith and Ulvund (2002)

Parental financial status could affect school children.

https://pubmed.ncbi.nlm.nih.gov/27473685/

Guerin et al.,

Parental financial status

https://academic.oup.com/humupd/article/7/2/175/638051

Widener (2017)

Financial problems could affect the students' academic performance.

https://firescholars.seu.edu/honors/63/

Asri et al. (2017)

Poor financial management

37
 https://www.studocu.com/my/document/

Avard et al. (2005)

Basic personal finance issues

https://www.academia.edu/36086162/

Phhilippine Statistics Authority, 2015

https://psa.gov.ph/tags/popcen-2015

Tabuga, Asis & Mondez (2015)

Financial Stress and Well-being

https://pdfcoffee.com

Avard, Manton (2005)

English and Walker

https://psycnet.apa.org/record/2005-06700-013

Lyons, et al ( 2006)

Deal with financial difficulties

https://www.researchgate.net/publication/284696254

Economic Education study (2005)

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 https://online.hbs.edu/courses/economics-

Worthington (2006)

Basic money management

https://psycnet.apa.org/record/2006-09517-000

(Lusardi and mitchell 2011)

Financial literacy

https://www.nber.org/papers/w17107

(Devaus 2002)

Survey in social work

https://www.scirp.org/(S(351jmbntvnsjt1aadkposzje)

Crocker, J. Luhtanen, K. (2003)

Contingencies of Self-Worth

https://doi.org/10.1037/0022-3514.85.5.894

Letkiewicz, J.C (2015)

https://newprairiepress.org/jft/vol5/iss2/6/

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 Appendix

There are a lot of students who are experiencing of having a financial

problem to their education specially to those senior high school students that are

going into college. It is also because of the higher price of their course. Specially

when you are having to partake a 4 years course. However, this situation can

affect to the academic performance of student itself. It is highly proven by a lot of

40
 students here at Angat. There’s a lot of complaints about the students because

their family can’t handle their educational Bills, in that case some students are

applying for a job so that they can support their selves In fact a lot of the students

who are having some financial problem are applying for a scholarship so that they

can Continue their study without worrying about the expenses. But, not all people

are lucky to have a Scholarship for their study, that’s why they still keep

continuing to work or selling some products to support their own.

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