Practical Research II: Quantitative Research PAMANTASAN NG LUNGSOD NG MARIKINA

Research Study of Humanities and Social Sciences N. Nicanor St. San Roque, Marikina City
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!

THE BUDGETING HABITS OF SELECTED GRADE 11 ACCOUNTANCY AND BUSINESS

MANAGEMENT (ABM) STUDENTS IN PAMANTASAN NG LUNGSOD NG MARIKINA:
TOWARDS "50-20-30" BUDGET RULE STUDENTS CONFERENCE
Aguilar, K., Cazar, D., Cruz, B., De Guzman, M.
Grandia, J., Jocson, J., Ladines, N., Magparangalan, K., Sampaga, B., Tamayo K.,
HUMSS 207 – Dalai Lama
Background of the Study
students. This is why the researcher chose
Schwahn, L. (2021) A spending plan based this topic to determine the budgeting habits of
on income and costs is called a budget. In selected Grade 11 Accountancy and Business
other words, it's a projection of your income Management (ABM) students in Pamantasan
and expenses for a specific time frame, like a ng Lungsod ng Marikina.
month or a year. Making a detailed list of
expenses or concentrating on a few areas can From the previous scholar, Holland (2016),
both be part of budgeting. Habits are the most students are unsure of managing their
actions you take in specific situations. money wisely. Students do not have access to
Basically, anything that is repeated accurate information or knowledge regarding
frequently enough to become automatic budgeting habits.
might be considered a habit.
1. Students may track their expenses.
According to Smart Capital Mind (2022) According to Klein, R. (2017) The
one of the challenges that senior high school best way to make sure your spending
students encounter is the difficulty to control is within your budget, whether it be
the way they spend and budget their money. daily, monthly, or annual, is to track
Student spending generally includes greater your spending. You can make sure
money spent on food, entertainment, your money is being utilized wisely
electronic devices, and personal care when you keep track of your
products. Student spending often involves expenditures and know where your
cash spent on clothing, music, movies, and money goes.
video games. Students usually have access to 2. Most of the students lack
food at home, so the bulk of their spending knowledge when it comes to
tends to revolve around entertainment and budgeting. According to Budget
clothing. The student years present social University (2021) young people who
pressures related to fitting in with peers and lack financial literacy or know how to
preserving a specific image. Wearing the manage their money frequently
right brand-name clothing and shoes as well engage in bad financial practices like
as keeping up with the latest fashion trends is gambling. Additionally, they have a
a large part of creating and preserving this strong ability to persuade people to
image. These items are common components make poor financial decisions.
of social activities and interaction among

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 Practical Research II: Quantitative Research
Research Study of Humanities and Social Sciences
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!
3. Students may set financial goals.
Establishing attainable financial
objectives gives you a head start when
drafting your budget. It's crucial to
have a financial goal in mind, whether
it's paying all of your bills on time
each month or putting money down
for a trip. However, it's equally
crucial to make sure you're aiming for
achievable targets so you don't feel let
down by falling short of impossible
ones. Budgeting Tips for
Students—Great Lakes (n.d.)
Brief Review of Related Literature and
Studies
Financial Peer Pressure
According to Rebecca Lake (2022) financial
peer pressure can have a huge influence on
what you do with your money. For previous
generations it was all about "keeping up with
the Joneses." For millennials and Gen Z, it's
the fear of missing out that results in pressure
to spend.
Financial Capability
The notion of financial capability augments
financial literacy (defined as a combination
of financial knowledge, skills, and
confidence) by another dimension—
desirable financial behaviors. This broader
concept has been used in the well-known
Organization for Economic Co-operation and
Development studies (OECD, 2016) with
addition of another formative factor of
consumers’ financial capability: their
financial attitudes.
PAMANTASAN NG LUNGSOD NG MARIKINA
N. Nicanor St. San Roque, Marikina City
Financial Stress
According to HanNa et al. (2015), Students
who experience financial difficulties were
more likely to develop detriment. Fewer
people were worried about not having enough
money for necessities or emergency savings.
They are more likely to pay their bills on
time, save consistently, bond with their
purchases, and have faith in their ability to
manage their finances. These fearful students
are then more inclined to participate in
undesirable actions like drinking or
overindulging in shopping, which could
increase credit card bills and cause the cycle
to recur.
Teen financial Literacy
Teenagers acknowledged that they lack
confidence in their grasp of personal finance,
as noted in Greenlight (2021). Students
could say that they save money every week
or month, although the quantity varies, and
that they have the same amount of money
each time.
Gender differences in the spending
behavior
According to PISA (2015), guys are more
likely to receive pocket money for
completing tasks and are the ones who
carefully consider their future spending as
opposed to girls, who squander their money
without considering how to manage it. While
women hunt for products that are not
particularly what they are looking for, men
limit their search to certain items they have
been trying to find at the moment of purchase.
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 Practical Research II: Quantitative Research
Research Study of Humanities and Social Sciences
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!
When making decisions, both genders take
pricing into consideration.
Financial Parenting
According to Serido J, Deenanath V (2016)
Parents training their kids about cash helps
the kids and the next ages to know and
consent to take obligation for long-haul
financial success. Parents’ financial
instruction is a multi-generational thing.
Studies demonstrated that guardians who
grant their posterity to settle on financial
decisions and let them get from those choices,
those people have monetary self-viability in
them. Guardians who demonstrate great
monetary conduct to their kids, their
youngsters additionally will in general have
sound financial behavior.
Self-control
According to Cornerstone (2019), impulsive
behavior and emotions are common in people
who lack self-control. This implies that they
might make bad choices that hurt them or
others, and that they might act out when their
wants are not met.
Saving Attitude
According to Ejercito, R. G. (2017) one
measure of development is the human
development index, which is currently
lagging. Many people continue to live in
poverty, while others can only meet the bare
necessities for their families. Saving money
seems to be a concept that only wealthy and
business-minded people practice. This idea is
always associated with the thrifty mindset of
PAMANTASAN NG LUNGSOD NG MARIKINA
N. Nicanor St. San Roque, Marikina City
the Chinese. Saving is a habit that is not just
practiced by wealthy folks and business-
minded people. Anyone can be an excellent
saver if they have the appropriate mindset
and discipline.
Related Studies
Making a budget is a crucial part of planning
our spending for both personal and academic
expenses. Students should develop the habit
of budgeting so they can allocate their
allowance to cover their necessities, costs,
and future savings.
According to the study of Elif Akben-Selcuk
(2015) entitled Factors Influencing College
Students’ Financial Behaviors in Turkey:
Evidence from a National Survey. From the
findings of logistic regression, students who
are more financially aware are more likely to
display the three good financial habits
(paying bills on time, having a budget in
place, and saving for the future). Positive
attitudes toward money and parental financial
education were also discovered to be
important determinants of good financial
conduct.
The study written by Kumar, D. S., and
Sudin, H. (2015) entitled the influence of
spending behavior among university students
in Malaysia discusses the rising of
insolvencies among youths in Malaysia. The
related study elucidated that the common
reason for insolvencies among youth is the
lack of financial capabilities and budgeting
alliteration as a reason. It investigates the
factors affecting the spending behavior of
university students in Malaysia. Related
study uses primary data collected through
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 Practical Research II: Quantitative Research
Research Study of Humanities and Social Sciences
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!
structured survey questionnaires. Similarly,
the researchers in the current study wants to
determine the budgeting habits of selected
grade 11 Accountancy and Business
Management (ABM) students in Pamantasan
ng Lungsod ng Marikina. In terms of the
respondents, the previous study has a three-
hundred (300) college students who gave
their comments and opinions to determine the
relationship between the spending behavior
of university students in Malaysia: Financial
Management Knowledge (KFM), Parental
Income (PI), and Peer Influence (P). On the
other hand, the current studies have eighty-
seven (87) grade 11 Accountancy and
Business Management (ABM) respondents
regarding the budgeting habits of selected
grade 11 Accountancy and Business
Management students in Pamantasan ng
Lungsod ng Marikina.
(Harrington, 2016) This study examines the
impact of cognitive and life cycle
characteristics on students' purpose to budget
and attitude toward budgeting in order to
identify solutions for enhancing college
students' financial behavior. The intention to
budget is significantly positively influenced
by attitude, subjective norm, and perceived
behavioral control, according to survey data
of business students. Prior financial
education and financial responsibility have a
positive impact on attitudes toward
budgeting. The findings imply that
introducing students to a low-effort
budgeting technique and highlighting how
budgeting teaches students to notice when
they are overspending may increase the
attraction of personal budgeting.
Bernardo & Fernando Resurreccion
PAMANTASAN NG LUNGSOD NG MARIKINA
N. Nicanor St. San Roque, Marikina City
(2018) Character strengths serve as a buffer
against the negative consequences of
experiences on wellbeing, which is one of the
core tenets of positive psychology. The
purpose of this study was to determine if
external locus-of-hope (LOH) moderates the
negative impacts of financial stress on the
well-being of Filipino students. Students
from different universities filled out
questionnaires with measures for life
satisfaction, internal and external LOH, and
financial stress; all the relevant scales had
good psychometric properties with the
current sample. Financial stress was found to
be a negative predictor of life satisfaction and
a positive predictor of three LOH aspects.
More crucially, external-family LOH
attenuated the association between financial
stress and life satisfaction; among students
with high external-family LOH, there was no
negative relationship between financial stress
and life satisfaction. However, the findings
also imply that financial stress abates.
Nerdwallet.com (2022) proposes certain
valuable suggestions regarding the proper
control of financial budgeting.
1. Figure out your after-tax income: If
you receive a regular paycheck, the
amount you receive is probably all
you need to know. However, if you
have automatic deductions for things
like a 401(k), savings, health and life
insurance, or other expenses, you
should add those back in to get a more
accurate picture of your income and
outgoings. If you have additional
sources of income, such as side jobs,
deduct anything that lowers it, such as
taxes and business expenditures.
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 Practical Research II: Quantitative Research
Research Study of Humanities and Social Sciences
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!
2. Choose a budgeting plan: Any
budget must cover all of your
requirements, part of your wants, and
— this is essential — saves for
emergencies and the future. The
envelope method and the zero-based
budget are two examples of budgeting
plans.
3. Track your progress: Use internet
tools for budgeting and saving or keep
a record of your spending.
4. Automate your savings: Automate
as much as possible so the money
you’ve designated for a specific
purpose gets there with minimal
effort on your part. An accountability
partner or online support group can
help so that you're held accountable
for choices that blow the budget.
5. Practice budget management: You
should actively manage your budget
by checking in on it frequently, like
once every three months. Your
income, expenses, and priorities will
change over time. Try these
budgeting suggestions if you're
having trouble staying on track with
your plan.
Statement of the Problem
Budgeting habits have always been an
issue in people, especially in students.
Students are having a hard time managing
their money properly. That is why the
researchers would like to take this
problem. This research study aims to
determine the budgeting habits of
selected grade 11 ABM (Accountancy
and Business Management) students on
PAMANTASAN NG LUNGSOD NG MARIKINA
N. Nicanor St. San Roque, Marikina City
budgeting habits in Pamantasan ng
Lungsod ng Marikina, District II,
Division of Marikina City, during the
school year 2022-2023.
More specifically, it will seek an answer
to the following questions:
1. What are the Budgeting Habits of
respondents in terms of;
1.1 financial stress
1.2 saving attitude and control
2. What efficient method can be used?
3. What possible program can be developed
to help students be more knowledgeable in
budgeting their own money?
Scope and Delimitation
This research study focused only on the
budgeting habits of selected grade 11
accountancy and business management in
Pamantasan ng Lungsod ng Marikina during
the school year 2022-2023. Basis “50-20-30”
budget rule student conference.
Conceptual Framework
The conceptual models that guide the
study in getting the budgeting habits of
selected grade 11 ABM students in
Pamantasan ng Lungsod ng Marikina
towards “50-20-30” budget rule student
conference are shown in Figures 1-3.
Figure 1: Shows the input, process, and
output of the validated survey questionnaire
(SQ) to get the budgeting habits of selected
grade 11 ABM students in PLMAR.
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 Practical Research II: Quantitative Research
Research Study of Humanities and Social Sciences
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!
Figure 1. Conceptual Model for the
Validation of Survey Questionnaire of
selected Grade 11 ABM Students
Regarding the Budgeting habits.
Figure 1. Conceptual Model for the
Validation of SQ to get the Budgeting Habits
of selected grade 11 ABM student in
PLMAR.
The input shows the construction of SQ and
the Validator.
The process shows the content validation of
SQ and the name of the validator who is Mr.
Roland M. Pajo.
The output shows the validated interview
questionnaires to get the budgeting habits of
selected grade 11 ABM students in PLMAR.
Figure 2. Demonstrates the input, and the
output of the gathered budgeting habits of
selected grade 11 ABM students in PLMAR.
PAMANTASAN NG LUNGSOD NG MARIKINA
N. Nicanor St. San Roque, Marikina City
Figure 2. Conceptual Model for the
Gathering of Budgeting Habits of selected
Grade 11 ABM students in PLMAR.
Figure 3. Shows the input, process, and
output of the “50-20-30” budget rule student
conference based on the budgeting habits of
selected grade 11 ABM students in PLMAR.
Figure 3. Conceptual Model for the
Modification of a Seminar Program Based on
the Budgeting Habits of selected Grade 11
ABM students in PLMAR.
Research Design
In order to better understand a research
problem, a mixed methods research design is
a process for gathering, analyzing, and
"mixing" both quantitative and qualitative
research and methodologies in a single study.
In our survey questionnaire, we used the
Likert scale which represents quantitative
research. It measures how much a student
agrees with our questions. And the part that
our study became qualitative when we get the
perception of our respondents regarding
budgeting habits.
The goal of our study is to determine the
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 Practical Research II: Quantitative Research PAMANTASAN NG LUNGSOD NG MARIKINA
Research Study of Humanities and Social Sciences N. Nicanor St. San Roque, Marikina City
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!

Budgeting Habits of selected grade 11 ABM ABM students in Pamantasan ng Lungsod ng

students, on how they spend and save their
money properly.
Population and Sample
To estimate the number of participants who
will respond to our study, the researchers
used Slovin’s Formula to calculate the
number of respondents and get the 10% of
Grade 11 ABM students of Pamantasan ng
Lungsod ng Marikina. The result indicates
that 87 of Grade 11 ABM students will
answer the prepared survey questionnaires.
The sampling method that the researchers
used is the cluster sampling method, not all
sections will be surveyed by the researcher;
the researchers only select sections that are
compatible with other sections. Instead of
twelve (12) sections, the research makes it
seven sections (7) since the other half might
have similar characteristics. Cluster sampling
methods avoid congestion and are hassle-free
for students and teachers, also using cluster
sampling methods is efficient and cost-
effective for the researchers.
Marikina.
Statistical Tools of Data
1. Frequency Distribution
It was used to determine the number
of Grade 11 ABM students who
answer how frequently they
experience each given situation
through a five-point Likert scale.
Thus, the researchers get the entire
number of frequencies for each item
which categorize into two sub-topics
which are financial stress and saving
attitude and control.
2. Percentage
The frequency distribution was then
converted to percentage to find out
it’s equivalent portion from 1 whole
or 100% to give a clear view result of
the research.

Research Instrument
In order to determine the budgeting habits of
selected Grade 11 ABM students, the
researchers used a survey questionnaire that
includes how frequently students experienced
each scenario given in survey questionnaires
that categorize into two sub-topics: a.)
financial stress, b.) saving attitude and
control, also each sub-topic contains four
questions. The survey questionnaire was
validated by the validator Mr. Roland M.
Pajo and distributed to the selected Grade 11

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 Practical Research II: Quantitative Research PAMANTASAN NG LUNGSOD NG MARIKINA
Research Study of Humanities and Social Sciences N. Nicanor St. San Roque, Marikina City
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!

Where: References

% - percent NCBI - WWW Error Blocked Diagnostic.

f – frequency (n.d.).

N – number of cases https://www.ncbi.nlm.nih.gov/pmc/articles/P

MC6895142/
3. Five-point Likert scale
This was used to determine the numerical and Schwahn, L. (2021, December 7). What Is a
verbal interpretation of the results of the
budgeting habits. Budget? NerdWallet.

https://www.nerdwallet.com/article/finance/
Scale Range Verbal
what-is-a-budget
Interpretati
Habits (Good & Bad): Definition, Books &
on (VI)
Tips. (n.d.-b). The Berkeley Well-Being
5 4.50-5.00 Always
Institute.
4 3.50-4.49 Sometimes
https://www.berkeleywellbeing.com/habits.h
3 2.50-3.49 Often
tml
2 1.50-2.49 Rarely
Klein, R. (2017, November 16). Importance
1 1.00-1.49 Never
of Keeping Track of Your Expenses. Long

Island CPA Firm - Richard L. Klein.

4. This is the calculated weighted
average of how students frequently https://richardkleincpa.com/importance-of-
experience the given situation from
the two sub-topic which are financial keeping-track-of-your-expenses/
stress, saving attitude and control.
Budgeting Tips for Students - Great Lakes.

(n.d.). My Great Lakes.

https://mygreatlakes.org/educate/knowledge-

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 Practical Research II: Quantitative Research PAMANTASAN NG LUNGSOD NG MARIKINA
Research Study of Humanities and Social Sciences N. Nicanor St. San Roque, Marikina City
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!

center/successful-budgeting.html

Times of India. (2021, October 26).

The 50/30/20 Budget Rule Explained With Differences in shopping habits between men

Examples. (2022, September 17). and women - Times of India. The Times of

Investopedia. India.

https://www.investopedia.com/ask/answers/ https://timesofindia.indiatimes.com/life-

022916/what-502030-budget-rule.asp style/fashion/buzz/differences-in-shopping-

Cornerstone University. (2021b, April 19). habits-between-men-and-

The Critical Importance of Self-Control (And women/articleshow/87263287.cms

How to Grow in It). Just a moment. . . (n.d.-b).

https://www.cornerstone.edu/blog-post/the- https://www.moneycrashers.com/men-

critical-importance-of-self-control-and-how- women-money-sexes-differ-finances/

to-grow-in-it/ Widener, Katharine N., "Financial

Just a moment. . . (n.d.-b). Management Issues of College-Aged

https://www.collinsdictionary.com/dictionar Students: Influences and Consequences"

y/english/self-control (2017). Selected Honors Theses. 63.

Yahoo is part of the Yahoo family of brands. http://firescholars.seu.edu/honors/63

(n.d.-b).

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lack-financial-literacy-

153951873.html++https://www.moneycrash

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finances/

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Practical Research II: Quantitative Research PAMANTASAN NG LUNGSOD NG MARIKINA
Research Study of Humanities and Social Sciences N. Nicanor St. San Roque, Marikina City
MULA SA TALINO NG MGA HUMANISTA, UUSBONG ANG BAGONG PAG-ASA!

pg. 10