CHAPTER 4

DISCUSSION

This chapter discusses the result of the study. The obtained data were analyzed

and interpreted. The implications of the result are explained in line with the purpose of

the study.

The Level of Financial Literacy of Grade 12 Students in Pantukan National High

School
Chapter 3 Table 1 shown the indicators of the independent variable which is the

Financial Knowledge that obtained the highest mean score of 3.81 which the description

is high, followed by Awareness gets the lowest obtained mean of 3.79 which the

description is high.

The data revealed that the Financial Knowledge used by the Grade 12 Students

of Pantukan National High School is high. Based on the result, financial knowledge gets

the highest mean score than awareness.

Furthermore, the result of the study supported the proposition of Khan, et al.,

(2017) that people’s perceptions of their own financial literacy are based on what they

believe to be their current degree of knowledge. The level of people’s understanding of

different aspects of financial markets and products, such as numeracy, assets, debts,

savings and investments, the value of money, inflation, compound interest, and risk

diversification, can be used to gauge their level of financial knowledge. The result of the

study also supported by Xiao & Porto (2017) that the best way of fixing behavior at older

age is by teaching a good financial education since childhood. Knowledge on financial

literacy ought to be given as early as possible to allow them to apply it better in their

daily life.

Another indicator of the independent variable which is the Awareness obtained

the mean score of 3.79 and with description of high.

The data revealed that the Awareness used by the Grade 12 Students of

Pantukan National High School is high. Based on the result, awareness gets the lowest

mean score than the financial knowledge.

Furthermore, the result of the study supported the proposition of Hoyt (2016) that

financial awareness is essential to a student’s financial success since it relates to the

awareness of one’s financial transactions and to one’s good or bad financial habits. The

result of the study also supported the proposition of Jorgensen (2017) that children and

adolescents who acquire early financial education and awareness from their family at

home can later develop stronger financial skills and make wiser financial decisions.

The Level of Spending Habits of Grade 12 Students in Pantukan National High

School
Chapter 3 Table 2 shown the indicators of dependent variable which is the

Spending Habits that obtained the highest mean score of 3.75 which the description is

high, followed by Academic Purposes gets the second highest obtained mean of 3.72

which the description is high, and Transportation gets the lowest obtained mean of 3.64

which the description is high.

 The data revealed that the Personal Needs used by the Grade 12 students of

Pantukan National High School is high. Based on the result, personal needs gets the

highest mean score than academic purposes and transportation.

Furthermore, the result of the study supported the proposition of Chhabra (2016)

that spending habits of students with various educational backgrounds vary significantly.

The majority of their money is spent on cosmetics, hygiene products, mobile phones

accessories, shopping, and food. The result of the study also supported the proposition

of Koc & Ceylan (2017) that consumers in lower socioeconomic classes spend a larger

percentage of their income on food items, and such high-status customers always read

the price labels of food items before making a purchase. 77% of the respondents stated

that they would be willing to pay money to try new foods. The upper socio-economic

segments of customers, meanwhile, carefully analyze the components in meals before

purchasing.

Another indicator of the dependent variable which is the Academic Purposes

obtained the mean score of 3.72 and with description of high.

The data revealed that Academic Purposes used by the Grade 12 students of

Pantukan National High School is high. Based on the result, academic purposes get the

higher mean score than transportation but lower mean score than personal needs.

Furthermore, the result of the study supported the proposition of Bona (2017)

that most college students spend more money on their projects and assignments. This

finding is consistent with the findings of the study, which showed that 12-23% of
monthly allowance is set aside for school supplies and study materials, placing these

costs as the respondents’ second highest priority.

And the third indicator of the dependent variable which is the Transportation

obtained the lowest mean score of 3.64 with description of high.

The data revealed that Transportation used by the Grade 12 students of

Pantukan National High School is high. Based on the result, transportation gets the

lowest mean score than the personal needs and academic purposes.

Furthermore, the result of the study supported the proposition of Abawag et al.,

(2019) that students’ main concern is how much money they would be spending on

transportation each day. It is clear that the respondents prefer to commute to school

since it is more convenient and commuters paid more for transportation. The result of

the study also supported the proposition of Bora (2017) that transportation is essential

for students, study shows 10% of the respondent’s monthly allowance is spent for fare

and gas consumption showing that the respondents are willing to spend such for

transportation.

Significant relationship between Financial Literacy and Spending Habits of Grade

12 Students in Pantukan National High School 
The data revealed that there is a significant relationship between the

independent variable and dependent variable. The evidence is hereby presented above

and there is a concrete proof that the independent variable is somehow affecting the

dependent variable of the study. The pearson-r was used to determine the significant
relationship between the independent and dependent variable. The financial knowledge

obtained the mean score of 3.81 followed by awareness obtaining the mean of 3.79.

The computed r-value is .598 with probability value of .000 tested at 0.05 level of

significance. The null hypothesis which stated that there is no significant relationship

between the financial literacy and spending habits of the Grade 12 Student in Pantukan

National High School is hereby rejected.

Conclusion
In conclusion of the study, the result being computed shows the significant

results that the indicator of independent variable affects the spending habits of Grade

12 students in Pantukan National High School. Thus, the financial knowledge obtained

the highest mean score and with a description of often which simply implies that

students have knowledge in dealing with financial. Hence, awareness has obtained a

lowest mean score and with a description of often, this shows that students are aware

about their financial, but not as the same as financial knowledge that happens more

often. In this case, it is majority of cases use by the students at some point. Financial

Knowledge shows the highest mean rate of mean with a description of often and it is

observed that students really know about the finance. Nevertheless, there are some

factors that can also affect the spending habits of Grade 12 Students in Pantukan

National High School.

The researchers concluded that the following result is hereby decided that the

null hypothesis is rejected. Therefore, the result itself shows that there is a significant

relationship between the independent variable and dependent variable of the study.

Recommendations 
 Based on the findings the following recommendations are formulated:

The researchers recommended for the future researchers to support or to look further

about this study, the researchers also recommended to study the significance

relationship of financial literacy and spending habits of the students and if they will

continue this study, they should provide new factors and indicators. The future

researchers must have enough time in conducting such kind of study in the future so

they can get the correct analysis for the needed data however, they can also get

information to the respondents with regards on the reason why they are using social

interactions.