Chapter 1-5 Level of Financial Stress

OUR LADY OF LOURDES COLLEGE
5031 GEN T. DE LEON, VALENZUELA CITY
CHAPTER I
THE PROBLEM AND ITS BACKGROUND
INTRODUCTION
Everyone is experiencing financial stress and the financial stress
is one of the main problem of people. One of them are those
graduating Grade 12 students that cannot handle their allowance
properly. Students have their different level of financial stress and it
depends on their daily allowance because if they have larger
allowance, they will not experience financial stress because they have
enough money to provide their needs. Students are experiencing
financial stress if they can’t provide what they need in school and they
are struggling with handling their money.
Financial stress occurs when a student needs to process the
requirements which are needed for the school works that involves
money. Also, some of the students who want to excel in their class are
experiencing financial stress because they think that if they will buy an
expensive material it will be more fascinating but little did they know
that they can recycle those materials that will not be useful. This will
be helpful and talent of individuals can be shown here.
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Nowadays, students are experiencing lack of financial support
because not all of them are rich or their salary is suited for their daily
needs in a month. It’s really difficult to budget their allowance because
they are just students who are asking for their parents’ money and
there are a lot of requirements that you need to pass for your grade to
improve or you will fail if you did not pass it. Daily allowance of some
students is not enough for them to supply their needs in everyday life
as a graduating student. If the students are experiencing high level of
financial stress, they can’t manage their money properly but if the
students are experiencing low level of financial stress, they can afford
what they need in their school and it is easy them to buy an expensive
material for their requirements.
So, one of the grade levels who are struggling are Grade 12
students and they kept on thinking, how they are going to manage
their daily allowance for their eight subjects. Because in order to pass
their subjects, every semester they need to put lot of efforts in passing
requirements on time and if they did not pass anything they will fail in
that particular subject but one of their reasons is mostly it includes
money that’s why they can’t pass on time or they can’t put a lot of
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efforts. And most of the students don’t want to be a parasite to their
parents. So, they are finding ways to budget their allowance.
Altogether, experiencing financial stress is not easy because it
has a lot of effects to the students who cannot handle this kind of
situation. The researchers will look at different levels of their financial
stress to find out how they can solve these problems quickly. Also, the
researchers can help with the use of this study if we find out the levels
of their financial stress for them to escape it quickly like every student
doing and on how they are going to save their daily allowance so they
can avoid this problem. And financial stress is a problem and every
person can experience. Moreover, even if they have a lower or higher
level of financial stress it depends on them on how they will manage
their money properly.
CONCEPTUAL FRAMEWORK OF THE STUDY
The financial stress may affect the positive and negative aspects
of students daily allowance. Whether it’s good or bad, the researchers
need to arrange and analyze the data collected. As seen in the figure
below, the financial stress is connected to the positive and negative
effects and as you can see the figures are connected to the students
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followed by Daily Allowance wherein, they also have an important roles
in this study because they are the participants. Means that the daily
allowance is important as the basis of the data that will be gathered on
the next process.
DEMOGRAPHIC PROFILE Giving the letter of

approval to the school
 Age principal
 Gender
Giving of informed
 Daily Allowance consent form to the
respondents
They can manage
Level of financial stress and save money at
Giving of survey
the same time.
Reasons of financial questionnaire to
stress respondents
Is there a significant Retrieval of survey Improved level of

relationship between the questionnaire financial stress
financial stress and daily Analyzing, interpreting
allowance of Grade 12 and calculating the
students? answers of the Avoiding higher level
respondents
of financial stress
Identifying their
different level of
financial stress
INPUT PROCESS OUTPUT
Figure 1.1 Paradigm of the study
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THEORETICAL FRAMEWORK OF THE STUDY
The theories are based on our research study about levels of
financial stress. These following theories are included in our study; The
Circular Theory, Social Cognitive Theory, and RAM Theory. Each theory
has supports the entire research study.
THE CIRCULAR THEORY
According to Yardley (2018), financial Stress drives and
therefore, controls the human race where Financial Stress is defined as
the circular (relative) relationship between more and less. Where fear
of not having enough like too much or too little is a contingent of
human financial stress where we make all of our decisions about more
and less.
SOCIAL COGNITIVE THEORY
As cited by (Britt et. al., 2015) asserts on a macro level that
learning is a social process influenced by cognitive, behavioral, and
environmental factors (Bandura, 1997). With the literature illustrating
a generally positive relationship between subjective financial
knowledge and lower levels of financial stress levels in college students
(Joo & Grable, 2004), it can be asserted that the amount of knowledge
a student believes he or she has is realted to his or her ability to

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mediate financial stressful situations. Social Cognitive Theory would
label this as self-efficacy, whcih is an important tenant of this
framework.
RAM THEORY
Financial Stress is a concern because of the negative health
outcomes associated with increased levels of stress. Therefore, as
researchers examine factors related to the likehood of reporting
financial stress, it may be useful to to turn to a health care model.
(Heckman, Lim, Montalto, 2014)
STATEMENT OF THE PROBLEM
The purpose of this survey research is to determine the level of
Grade 12 students’ financial stress by answering the questionnaires at
Our Lady of Lourdes College to identify their different levels about the
topic related to our research study.
This research study will seek answers to the following questions:
1. What is the profile of the respondents as to:
a. Age
b. Gender
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c. Daily Allowance
d. Level of Financial Stress
2. What is the level of financial stress to the Grade 12 students’
daily allowance?
3. What are the reasons of financial stress to the Grade 12
students’ daily allowance?
4. Is there a significant relationship between the financial
stress and daily allowance of Grade 12 students?
HYPOTHESES
: There is no significant relationship between financial stress
and daily allowance of Grade 12 students.
: There is a significant relationship between financial stress
and daily allowance of Grade 12 students.
SIGNIFICANCE OF THE STUDY
This study talks about the levels of financial stress to the Grade
12 students and it may help the following group of people who are part
of the society.
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First, the Students. In this research, a student is the most
important beneficiary for this. They should be aware of the financial
needs that they are going to face as the education went higher. They
will also be informed of the different sources of financial supports that
may help them through their education.
Next, the Parents. As the guardians of the students, they
should be informed in this kind of issue. Of course, when they decided
to educate their children, they should have enough money to support
them. Parents should also be attentive and concerned about the status
of their child studying.
Third, the Teachers. In this study, teachers should be aware of
the costly materials and requirements that a student may have. They
should consider students who are in lack of money to help them
survive their education. Teachers, through this study, will be more
open and conscious of the school works that may affect students’
financial needs.
Fourth, the Society. In this study, they should not be naive in
this kind of cases wherein a student needs to be successful and they
should help them by giving them support that they deserve. A society
will also be educated of the various needs of a student, especially in

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terms of money. They will also be informed of the certain factors that
may affect the performance of the graduating students.
And lastly, the Future Researchers. They will gain knowledge
about the different expenses as well as the benefits of it regarding to
their education when they turn as graduating students. They will also
know the different institutions or programs for education that can help
them for their financial needs. They will also be concerned of
graduating students’ struggles because this situation may help them to
have their own strategy in getting their own financial support. This will
also serve as a guide for more research purposes in the future.
SCOPE AND DELIMITATIONS OF THE STUDY
This research will focus on the levels of financial stress to Grade
12 students’ daily allowance. This study will be conducted by the
researchers at Our Lady of Lourdes College from June 2019 until
October 2019.
The researchers will analyze, investigate and observe the
students’ different levels of financial stress and how they will avoid it
as a graduating Grade 12 student.
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This study is limited to Grade 12 students of Our Lady of Lourdes
College. The study will use simple random sampling where it will
provide information and data that will help the researcher to conduct
the study. Also, we will use 120 respondents.
DEFINITION OF TERMS
For the understanding of this research study, these are the
terms to be defined.
Daily Allowance. It is a money that your parents giving to you.
It is also the amount of money that is entitled on daily basis. It is
useful here to identify how much money they have in a day.
Financial Stress. It is a problem with financial and/or they can’t
manage their money properly. Also, it can change the behavior and
thoughts of a person. It is useful here to identify their different level of
financial stress.
Grade Level. It is the level of educational program. It refers to
those students who are studying their course that they want to take or
they’ve taken. It is useful here for us to know if that specific Grade
Level is really experiencing financial stress compared to others.
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High Level of Financial Stress. It refers to people who are
struggling financially. Because either they can’t save money or they
can’t manage their allowance. It is useful here to identify why it is
their situation.
Low Level of Financial Stress. It refers to people who can
afford expensive material and their wants. Either they know how to
manage money, save money, and maybe they are rich. It is useful
here to know how they can do that.
Level. It is a measurement of different financial stress level. It is
the ability of those people who can manage or save money. It is useful
here to identify what kind of situation they are dealing with.
Requirements. It is needed in school that every student needs
to pass with an effort. If they will not pass it there’s a chance that they
will fail in that particular subject. It is useful here to know if they are
really giving efforts for their requirements so we can identify the level
of their financial stress.
School. It is an organization that educate students. Also, it is
the second home of the students that will discipline them in a way that
will get better. It is useful here to conduct our research.
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School Expenses. It refers to the overall expenses in school
including the tuition, activity fees, and more. Also, it can be more
expensive if you are studying in private school compared to those who
are studying in public school. It is useful here to identify if their money
is enough for the school expenses.
Subject. A thing that is being discussed by a person. Also, you
can knowledge, thoughts, and information about the lesson. It is
useful here to identify if their whole expenses with all the subjects are
pricier.
CHAPTER II
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REVIEW OF RELATED LITERATURE AND RELATED STUDIES
In this chapter, the researchers will establish the information
that is being collected about the level of financial stress to Grade 12
students’ daily allowance. This chapter includes articles and periodicals
about the study that explain what are the causes of level of financial
stress. Also, other literature and study has a relation regarding the
level of financial stress.
REVIEW OF RELATED LITERATURE
According to Claessens et. al (2010), the financial crisis of
2007--2008 is rooted in a number of factors, some common to
previous financial crises, others new. Analysis of post-crisis
macroeconomic and financial sector performance for 58 advanced
countries and emerging markets shows a differential impact of old and
new factors. Factors common to other crises, like asset price bubbles
and current account deficits, help to explain cross-country differences
in the severity of real economic impacts. New factors, such as
increased financial integration and dependence on wholesale funding,
help to account for the amplification and global spread of the financial
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crisis. Our findings point to vulnerabilities to be monitored and areas of
needed national and international reforms to reduce risk of future
crises and cross-border spillovers. They also reinforce a (sad) state of
knowledge: much of how crises start and spread remains unknown.
This paper examines why some financial stress episodes lead to
economic downturns. The paper identifies episodes of financial turmoil
in advanced economies using a financial stress index (FSI), and
proposes an analytical framework to assess the impact of financial
stress – in particular banking distress – on the real economy. It was
characterized by banking distress Economies with more arm's-length
financial systems seem to be more exposed to contractions in activity
following financial stress, due to the greater procyclicality of leverage
in their banking systems. (Cardarelli, Elekdag and Lall, 2011)
Most regulators around the world reacted to the 2007–09 crisis
by imposing bans on short selling. These were imposed and lifted at
different dates in different countries, often targeted different sets of
stocks, and featured varying degrees of stringency. We exploit this
variation in short‐sales regimes to identify their effects on liquidity,
price discovery, and stock prices. Using panel and matching
techniques, we find that bans (i) were detrimental for liquidity,

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especially for stocks with small capitalization and no listed options; (ii)
slowed price discovery, especially in bear markets, and (iii) failed to
support prices, except possibly for U.S. financial stocks. (Beber, 2013)
Likewise, threshold VAR analysis is used to study the linkages
between changes in the debt ratio, economic activity and financial
stress within different financial regimes. We use quarterly data for
specific countries. The results show that output reacts mostly
positively to an increase in the debt ratio in both financial stress
regimes; however, the differences in estimated multipliers across
regimes are relatively small. Furthermore, a financial stress shock has
a negative effect on output and worsens the fiscal situation. The large
time-variation and the estimated nonlinear impulse responses suggest
that the size of the fiscal multipliers was higher than average in the
2008–2009 crisis. (Afonso, Baxa, and Slavík, 2018)
We examine whether and how selected central banks responded
to episodes of financial stress over the last three decades. We employ
a recently developed monetary-policy rule estimation methodology
which allows for time-varying response coefficients and corrects for
endogeneity. This flexible framework applied to the USA, the UK,
Australia, Canada, and Sweden, together with a new financial stress

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dataset developed by the International Monetary Fund, not only allows
testing of whether central banks responded to financial stress, but also
(Baxa, Horváth, and Vašíček, 2013)
A research study by (Polat, 2019), measuring, analyzing and
understanding systemic risk in financial system have become very
important in the light of the recent global crisis.
In this study, we follow Holló, Kremer, and Lo Duca (2012) and
evaluate systemic stress of financial system of Turkey with a high
frequency (daily) financial stress index which consists of daily 13
financial market indicators. Dynamics of the financial stress index
indicate that the index creates proper signals to the well-known
financial stress events. The dynamic interaction between financial
stress and real economic activity is investigated with application of
structural VAR (SVAR) model. Results of the study suggest that
deterioration of financial conditions impacts real economic activity
significantly and adversely.
Concerns that debt loads and other financial worries negatively
affect student wellness are a top priority for many university
administrators. Factors related to financial stress among college
students were explored using the Roy Adaptation Model, a conceptual

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framework used in health care applications. Responses from the 2010
Ohio Student Financial Wellness Survey were analyzed using
proportion tests and multivariate logistic regressions. The results show
that financial stress is widespread among students – 71% of the
sample reported feeling stress from personal finances. The results of
the proportion tests and logistic regressions show that this study
successfully identified important financial stressors among college
students. Two of the most important financial stressors were not
having enough money to participate in the same activities as peers
and expecting to have higher amounts of student loan debt at
graduation. The results also indicate that students with higher financial
self-efficacy and greater financial optimism about the future are
significantly less likely to report financial stress. Implications for
student life administrators, policymakers, financial counselors, and
financial therapists are discussed. (Heckman, Lim, and Montalto, 2014)
Staying in school and graduating on time is an important factor
for students and their families. Greater financial burdens may lead
students to reduce coursework or drop out of school for paid work. A
Web-based survey (N = 503) was conducted in fall 2004 at a large
public university to examine the characteristics of students who

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experienced dropping out or reducing credit hours due to financial
reasons. Analyses were conducted to compare these students with
those who did not drop out or reduce their coursework. Findings show
the relationship between financial stress and academic performance.
(Joo, Durband, and Grable, 2009)
Financial stress is commonly experienced among college
students and is associated with adverse academic, mental health, and
physical health outcomes. Surprisingly, no validated measures of
financial stress have been developed for undergraduate populations.
The present study was conducted to generate and evaluate a measure
of financial stress for undergraduate students. The newly developed
scale and measures of demographics, general stress, and health were
completed by 177 undergraduates. The reliability, validity, and factor
structure of the new scale were evaluated. Results indicate good
reliability and validity, suggesting that the measure can be used in
research and in applied settings to assess financial stress. Possible
implications are discussed. (Northern, O’Brien, and Goetz, 2010)
According to (Carlson, Lewis, and Nelson, 2013), this paper
describes the construction of a financial stress index (FSI). Our index

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incorporates the level, volatility and co-movement of a variety of
financial series, rather than a single dimension of the data. To
determine which time periods are ones of notable financial stress and
thus the relevant ones for determining the role of the level, volatility
and co-movement of our financial series, we use actions taken by
policymakers. In addition to describing the construction of our FSI, we
discuss issues relevant to the general construction of stress indexes
such as how an FSI differs from a financial conditions index, the
challenges of combining different financial series into a single measure
and the role historical experience plays in index construction.
This paper describes a financial stress index for the United
States, the CFSI, which provides a continuous signal of financial stress
and broad coverage of the areas that could indicate it. The design of
the index allows the origin of the stress to be identified and they
compare it to other. To that end, we investigate alternative stress
signaling thresholds and frequency regimes and establish optimal
frequencies for filtering out market noise and idiosyncratic episodes.
Finally, we quantify a powerful CFSI-based rating system that assigns
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a probability of systemic stress to ranges of CFSI outcomes. (Oet et.
al., 2011)
This paper studies how financial stress, defined as periods of
impaired financial intermediation, is transmitted from advanced to
emerging economies using a new financial stress index for emerging
economies. Previous financial crises in advanced economies passed
through strongly and rapidly to emerging economies. Higher current
account and fiscal balances do little to insulate emerging economies
from the transmission of acute financial stress in advanced economies,
although they may still help dampen the impact on the real economy.
(Balakrishnan et. al., 2014)
We introduce a dynamic banking-macro model, which abstains
from conventional mean-reversion assumptions and in which—similar
to Brunnermeier and Sannikov (2010)—adverse asset-price
movements and their impact on risk premia and credit spreads can
induce instabilities in the banking sector. To assess such phenomena
empirically, we employ a multi-regime vector autoregression (MRVAR)
approach rather than conventional linear vector autoregressions. We
conduct bivariate empirical analyses, using country-specific financial-
stress indices and industrial production, for the U.S., the UK and the
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four large euro-area countries. Our MRVAR-based impulse-response
studies demonstrate that, compared to a linear specification, response
profiles are dependent on the current state of the economy as well as
the sign and size of shocks. Previous multi-regime-based studies,
focusing solely on the regime-dependence of responses, conclude that,
during a high-stress period, stress-increasing shocks have more
dramatic consequences for economic activity than during low stress.
Conducting size-dependent response analysis, we find that this holds
only for small shocks and reverses when shocks become sufficiently
large to induce immediate regime switches. Our findings also suggest
that, in states of high financial stress, large negative shocks to
financial-stress have sizeable positive effects on real activity and
support the idea of “unconventional” monetary policy measures in
cases of extreme financial stress. (Mittnik and Semmler, 2013)
Another study on the topic by Evgenidis and Tsagkanos (2017),
During period of financial stress, the effect of financial stress shocks
on economic activity might be different from what is usually observed
in normal times. This paper investigates the transmission of financial
stress episodes on the macroeconomy during stressed and normal
periods and it explores how these events are transmitted to the

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Eurozone. We find that, a detrimental US financial shock leads to a
worsening in economic and financial conditions both domestically and
in the Eurozone. In addition, during turmoil times, financial accelerator
mechanism amplifies and propagates the transmission of US financial
stress shocks to the Eurozone by reducing its economic activity.
Moreover, small financial stress shocks, rather than infrequent large
ones, are able to create large fluctuations in inflation rates. Last, the
effect of a detrimental shock in financial conditions has larger negative
effects in the economy compared with the positive effects that would
be generated by a beneficial shock in financial conditions.
One of the biggest challenges of keeping Euro area financial
stability is the negative co-movement between the vulnerability of
public finance, the financial sector, security markets stresses as well
as economic growth, especially in peripheral economies. This paper
utilizes an ARMA-GARCH based R-vine copula method to explore tail
dependence between the Financial Stress Indices of 11 euro area
countries with an aim of understanding how financial stress are
interacting with each other. We find larger economies in the Euro area
tend to have closer upper tail dependence in terms of positive shocks,
while smaller economies tend to have closer lower tail dependence

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with respect to negative shocks. The R-vine copula results underline
the complex dynamics of financial stress relations existing between
Euro Area economies. The estimated R-vine shows Spain, Italy, France
and Belgium are the most inter-connected nodes which underlying
they might be more efficient targets to treat in order to achieve a
quicker stabilizing. Our results relate to the fact that Eurozone is not a
unified policy making area, therefore, it needs to follow divergent
policies for taming the effects of financial instability to different regions
or groups of economies that are more interconnected. (Zhang, Yan,
and Tsopanakis, 2017)
According to Vaughn (2013), the purpose of this study was to
examine the relationship between financial stress and academic and
social functioning and satisfaction in a volunteering sample of
undergraduate residential college women in Western Massachusetts,
which included students who identified their enrollment status as
either dependent or independent as defined by 2011-2012 federal
financial aid guidelines. However, because of the limited responses
received, and the study’s small sample, these findings are inconclusive
in regards to the research questions asked and the diversity of the
population sampled. The applicability of the findings reported is limited

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to the respondents in this study and not generalizable to the target
population of undergraduate residential college women attending
schools in Western Massachusetts.
Many governments have adopted a policy of seeking to increase
the number of students entering higher education and to finance this
expansion by transferring costs from the state to the individual. In the
United Kingdom, this policy has been pursued with relatively little
concern for the impact that the increasing financial burden may have
on students. Research at one case-study University suggested that
many students were coping with their day-to-day living costs more
comfortably than they had expected to in the first year. However,
those in a difficult financial position at the start of their period of study
were likely to face greater problems in the course of their first year.
Two difficulties in particular – having missed payments at the start of
the academic programme, and having to wait for the first student loan
payment – were shown to have a damaging effect on academic
performance. (Harding, 2010)
This study investigated the prevalence of psychological distress
among parents in Western Sydney households and examined its

24
relationship with household financial, family and life stressors, and
potential resilience factors. As part of a longer-term study, parents
from Western Sydney, New South Wales (NSW), completed computer-
assisted telephone interviews. Respondents were primary caregivers of
at least one child (aged 4–16). Responses were weighted to reflect the
Western Sydney population. Multivariate analyses were conducted to
examine the relationship between parent experiences of stressor and
resilience factors and reported psychological distress. (Taylor et. al.,
2017)
REVIEW OF RELATED STUDIES
In this article, we propose a new monetary framework that
defines a broader set of assets, De Facto Money (DFM), as the
benchmark for improving financial stability. DFM is defined as
traditional monetary aggregates plus other liquid assets such as stocks
and bonds. Empirical evidence for the USA, other Organization for
Economic Co-operation and Development countries, and a few
emerging countries lends strong support for the connection between
exceptionally fast growth of DFM and subsequent financial instability.
We recommend several potential policy instruments to implement the

25
new monetary framework. Due to cross-country spillovers from
national financial crises, we suggest that international surveillance will
be necessary to monitor DFM and thus the underlying conditions for
financial stability in major countries. We argue that the International
Monetary Fund is the ideal institution to carry out this. (Hufbauer and
Xie, 2010, pp. 939-953)
A research study by (Cassimon et. al., 2011, pp. 139-156), a
decade has passed since participants in the World Education Forum
committed themselves to achieve, by 2015, the six Education for All
(EFA) goals under the Dakar Framework for Action. Despite significant
progress, some of the goals are likely to be missed by a large margin.
Besides the absence of a well co‐ordinated multi‐donor approach in
education, another major problem is the lack of funds: the EFA
financing gap in low‐income countries is now estimated at around $16
billion annually. This article zooms in on debt swaps as one particular
instrument of innovative financing. More specifically it assesses the
macro‐economic impacts of debt‐for‐education swaps and their relation
to the aid approach now advocated by the donor community. It does
so on the basis of theoretical insights from debt relief and case studies
26
on recent swap initiatives between Germany and Indonesia and
between Spain and El.
In this study, we examine financial stress co-movements and
spillovers among the G7 economies by employing a Financial Stress
Index as a proxy variable and accounting for financial instability. To
examine the interdependence of financial stress, we parse the dynamic
conditional correlations of financial stress among these countries for
the 1981–2009 period. In addition, we present spillover indices and
plots of financial stress that indicate financial stress innovations and
spillover dynamics, respectively. In general, our findings provide a
clear view of the transmission of financial stress during important
stressful episodes, suggesting the existence of an increased interplay
among the financial markets. (Apostolakis and Papadopoulos, 2014,
pp. 128-149)
Similarly, employing a generalized vector autoregression (VAR)
framework, this paper examines financial stress spillovers in five Asian
countries, namely, China, South Korea, Malaysia, Thailand, and the
Philippines, during turmoil periods. Our data span the period from the
end of 1997 to early 2009, encompassing the impact of the 2007–
2009 global financial crisis on several Asian economies. We use a

27
financial stress index specifically designed for emerging economies as
a proxy for financial stress, and our findings reveal significant cross-
country stress spillover effects, where China is the dominant stress
transmitter among the five countries during stressful periods. Further,
the generalized impulse responses (GIRs) on stress innovations show a
positive short-run effect up to one standard deviation before it fades
away. Overall, our findings shed light on the dynamics of financial
stress spillovers in the Asian financial markets. (Apostolakis, 2016, pp.
542-551)
College students are frequently experience financial stress.
According to recent national survey, 35% of said their finances were
“traumatic” or “very difficult” to handle. Means that financial stress
were not that easy to handle and should take seriously by a person or
their parents, if they are living with their parents. (ACHA, 2013)
This study examined the process of how socioeconomic status,
specifically parents' education and income, indirectly relates to
children's academic achievement through parents' beliefs and
behaviors. Data from a national, cross-sectional study of children were
used for this study. The subjects were 868 8–12-year-olds, divided
approximately equally across gender (436 females, 433 males). This

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sample was 49% non-Hispanic European American and 47% African
American. Using structural equation modeling techniques, the author
found that the socioeconomic factors were related indirectly to
children's academic achievement through parents' beliefs and
behaviors but that the process of these relations was different by racial
group. Parents' years of schooling also was found to be an important
socioeconomic factor to take into consideration in both policy and
research when looking at school-age children. (Kean, 2009, p.
vvhu294)
According to Trombitas (2012), survey was focused specifically
on financial stress and found that four out of the five most common
stressors among students related to their personal finances.
Similarly, financially stressed students were more likely to drop
courses and less likely to graduate. (Welbeck et. al., 2012)
A research study by Inceptia’s (2012), students, both those
enrolled & ones who have recently graduated, are under high level of
stress. A number of factors contribute to students’ stress, but very
prominent are those related to student finances. Aside from this, the
study shows that one third of respondents said stressors have had a
negative impact on their academic performance.

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In today's incoming college students are reporting high levels of
poor mental health than ever before & financial stress is an emerging
is within this trend. (CIR, 2010)
Likewise, student wellness is an important topic on college
campuses nationwide as higher education and student life
administrators are becoming increasingly concerned with stress among
students. Given that stress has been shown to negatively impact
student persistence increased scrutiny of graduation rates from federal
and state governments should motivate administrators to understand
the causes of stress among students. (Letkiewicz, 2015)
According to (Fosnacht et. al., 2013), he found that students
with financial stress perceive a less supportive campus environment,
but focused on ways that students cope with stress rather than the
impact of that stress on academic performance. Several studies found
that financially stressed students were more likely to be employed and
work longer hours, leaving less time for study.
Furthermore, seventy four percent of respondents are working
during the academic year, the 15 percent of students are working full-
time. NSSE (2011)

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According to O'rien and Goetz (2010), financial stress defines as
the inability to meet one's economic responsibilities and is influenced
by attitudes, beliefs, and other psychological factors.
A research study by (Ross, Cleland and Macleod, 2009), explains
that while the above research suggests that financial stress is common
among undergraduates, little research has investigated how it impacts
students. The results of two suggest that students under financial
stress are more likely to suffer from depression, anxiety. or suicidal
thoughts (Eisenberg, Gollust, Golberstein, & Hefner, 2007; McPherson,
2012). While others have associated financial difficulties among college
students to their self-esteem related to their physical appearance
(Crocker & Luhtanen, 2003). Financial stress may also lower academic
performance.
The latest work by (Mehtan, 2019) said that it may not always
be possible to control the causes of stress, especially if these spring
from macroeconomic factors, but for others, you can take timely
action. planning well in advance, conducting adequate research,
making correct calculations, covering your risks, and working with a
budget can help reduce financial stress to a large extent.
31
SYNTHESIS OF RELATED LITERATURE AND RELATED STUDIES
Altogether, there are a lot of causes regarding financial stress
and students are the only one who are experiencing it. All of us,
especially the students must prioritize their needs first before their
wants. To cope up with this situation, they need to manage and save
their money instead of spending to get what they want.
This research study will help them with their situation. It will
guide them to do such things that will help them save more money or
to manage it. In the end, they can buy their wants because they can
manage or save money at the same time.
CHAPTER III
RESEARCH DESIGN AND RESEARCH METHODOLOGY
32
Gathering data in this chapter will be tough. The researchers will
give their very best to gather accurate result of the data. It will result
to an orderly research study if we followed the following procedure of
research design and methodology.
In this chapter, it includes process of collecting data,
instruments, sampling techniques, place of the conducted research
study and research design.
RESEARCH DESIGN
This research uses survey research design wherein the
researchers are going to get the perceptions and opinions of the
respondents by asking them either in paper or by phone or online.
Through this, the researchers will use survey method to clarify
the data. This is useful to describe our respondents’ preferences,
views, and feelings. Also, it is useful to gather more information from
the group of people by selecting and studying samples chosen from a
population. The main purpose of this is to know the Level of Financial
Stress to the Grade 12 Students’ Daily Allowance.
33
RESEARCH LOCALE
Our Lady of Lourdes College will be the location of this study and
the main sources of the data will be coming to Grade 12 students. Our
Lady of Lourdes College was founded by Mr. Alfredo D. Demetillo and
Dr. Adelia C. Demetillo as an educational institution primarily to serve
the educational needs of the youth of Valenzuela City.
Back in 1986, where there was only a Pre-School that was
officially established (Cherub Learning Center). Our Lady of Lourdes
College had humble beginning and years passed by it grows because
of their sheer courage but with an unfailing faith in the divine
providence and became known along Valenzuela and some areas.
The growth of Our Lady of Lourdes College is accelerative in both
human and material resources providing the academic community with
an environmental conductive learning.
SAMPLES AND SAMPLING TECHNIQUE USED
The respondents of this research study are those students who
are experiencing level of financial stress. This study will use a simple
34
random sampling. It is useful to determine the number of students
that having no particular same characteristics and the objectives of the
study (Crossman, 2018).
The researchers will choose 120 chosen respondents to gather a
lot of information from Grade 12 of Our Lady of Lourdes College.
To get the number of samples to be used in our study, we will
use the Slovin’s formula here and it comes up that our samples to be
used is 92 samples out of 120 total population.
The formula for Slovin’s formula are as follows:
n=
where: n = sample size
N = population size
e = margin of error (0.05)
INSTRUMENTATION
The researchers will use a survey questionnaire as a medium to
gather timely information from the Grade 12 respondents.
35
To collect information, they are going to answer the
questionnaires provided by the researchers and after minutes left: we
will gather, compare, and tally it.
Moreover, this instrumentation is helpful to determine the facts
about the research title entitled, “Level of Financial Stress to Grade 12
Students’ Daily Allowance.”
SURVEY QUESTIONNAIRE
RESEARCH TITLE: Level of Financial Stress to Grade 12
Students’ Daily Allowance
Name: (optional) _______________ Date: ________________
Strand & Section: ____________________
PART I: PROFILE OF THE RESPONDENTS
 Age: ______
 Gender: _____
 Daily Allowance: _____
 Level of Financial Stress: Please check (/)
____Higher level of financial stress. (You can’t manage your
36
money regularly. You can’t afford to buy expensive materials
because of your daily allowance. You can’t buy your wants and your
needs. You can’t save your money regularly.)
____Moderately higher level of financial stress. (You can’t
moderately manage your money and can’t save sometimes.)
____Neither higher or lower level of financial stress. (You may
or may not manage your money properly and may or may not save
your money properly.)
____Moderately lower level of financial stress. (You can
moderately manage your money and can save sometimes.)
____Lower level of financial stress. (You can manage your
money regularly. You can afford to buy expensive materials because
of your daily allowance. You can buy your wants and your needs.
You can save your money regularly.)
PART II: Level of Financial Stress to Grade 12 Students’ Daily
Allowance
37
 Direction: Read the following statements and answer it
seriously. Put a check on the specific column of your chosen
answer.
5 – Strongly Agree (SA) – You are really agreed with the
statements.
4 – Agree (A) – You are agreed with the statements.
3 – Neither Agree nor Disagree (NAD) – You are agreed or not
agreed with it.
2 – Disagree (D) – You are disagreed with the statements.
1 – Strongly Disagree (SD) – You are not really agreed with the
statements.
STATEMENTS SA A NAD D SD
(5) (4) (3) (2) (1)
1. Not saving your money can cause
higher level of financial stress.
2. Being rich can cause lower level of
financial stress.
38
3. Saving half of your daily allowance
causes lower level of financial stress.
4. Buying your wants cause lower level
of financial stress.
5. Recycling some used materials can
cure higher level of financial stress.
6. Higher salary of parents causes lower
7. You can control financial stress if you
have higher daily allowance.
8. Lower level of financial stress is
caused by being creative in terms of
budgeting your daily allowance.
9. You can experience depression
because of higher level of financial
stress.
10. Buying needs can cause higher
39
PART III: Reasons of Financial Stress to the Grade 12 Students’
Daily Allowance
 Direction: Read the following statements and answer it
seriously. Put a check on the specific column of your chosen
answer.
5 – Strongly Agree (SA) – You are really agreed with the
statements.
4 – Agree (A) – You are agreed with the statements.
3 – Neither Agree nor Disagree (NAD) – You are agreed or not
agreed with it.
2 – Disagree (D) – You are disagreed with the statements.
1 – Strongly Disagree (SD) – You are not really agreed with the
statements.
STATEMENTS SA A NAD D SD
(5) (4) (3) (2) (1)
40
1. You can’t manage your daily allowance.
2. Your parents have low salary.
3. You are saving money for your wants
instead of your needs.
4. You are the one who is providing your
allowance.
5. You can’t save left money on your daily
allowance.
6. Your daily allowance isn’t enough.
7. You are a working student and your
salary is not enough for your daily
needs in school and everyday life.
8. You don’t know how to control financial
stress.
9. You are buying your wants even if you
are experiencing money problems.
10. You are buying expensive
materials instead of recycling some
materials.
41
LEGEND FOR LIKERT SCALE
Rate Interpretation Symbols
4.21-5.00 Strongly Agree SA
3.41-4.20 Agree A
2.61-3.40 Neither Agree/Disagree NAD
1.81-2.60 Disagree D
1.00-1.80 Strongly Disagree SD
DATA GATHERING PROCEDURE
The purpose of this study is to know the different level of
financial stress of graduating Grade 12 students.
To make this study possible, the researchers made a survey
questionnaire that provide questions that is related to the study and
those answers will benefit the study.
The survey questionnaire will last for 15 minutes and will be held
in every specific classroom of Grade 12 in Our Lady of Lourdes College.
For the validation of survey process, the researchers provide a request
42
of the approval to the school principal. Also, the respondents will be
given informed consent to inform them that we will only use their
answers as part of the research study and to assure them that their
identity will remain confidential.
The survey questionnaires will be given to 120 individuals as
respondents and after they answer the questionnaire, the researchers
will collect the questionnaire and will apply the formulas and then
other process will follows.
From that, the researchers will use simple random sampling to
pick randomly from 1 up to the result of it. After that, we will analyze
those questionnaires using different statistical method.
STATISTICAL TREATMENT OF DATA
The researchers will use different statistical tools such as
Percentage Frequency Distribution, Weighted Mean, Slovins Formula
and One-Way ANOVA (Analysis of Variance). These statistical tolls will
help us to identify the relevance of the study.
First, percentage frequency distribution. It is a display of
data that specifies the percentage of observations that exist for each
data point or grouping of data points (Lavrakas, 2008). We will use

43
this to identify the percentage of each. Usually the data of the
students’ profile like age, gender, and level of financial stress.
%= x 100
Where: % = Percentage
f = frequency of number
s = number of samples
Another statistical tool, the weighted mean. It is a type of
mean that is calculated by multiplying the weight (or probability)
associated with a particular event or outcome with its associated
quantitative outcome and then summing all the products together (CFI
Education, 2015). The observation in the data set is
WM
Where: ∑fx=Summation of the product of frequency
N=Total number of respondents

44
Third, the Slovins Formula. It is used to calculate the sample
size (n0 given the population sine (N) and a margin of error (e). It is
computed as n = N / (1+Ne2), Slovins Formula is used when nothing
about the behavior of a population is known at all.
(“prudencexd.weebly.com”, 2019). This statistical tool will help us to
determine the total number of the respondents that we need.
S=
Where: n= number of samples
N= population size
E=margin of error
Lastly, Analysis of Variance (ANOVA) is a statistical technique
that assesses potential differences in a scale-level dependent variable
having 2 or more categories (“statisticssolutions.com”, 2017). It is use
to get the hypothesis.
Total df= N-1
45
Group df= k-1
Error df= N-k
Where: Df= Degrees of freedom
N= Total number of population
K= Total number of Groups
To calculate the correction factor, the formula is
CF =
Where: CF = correction factor
Σx = summation of X
N = total population
To calculate Sum of Squares Total Value (SS total), the formula
is
46
SS Total = Σx2 – CF
Where: Σx2 = summation of x2
CF = correction factor
To calculate SS Group Value, the formula is:
SS Group = Σ – CF
Where: SS Group = sum of squares group value
n = number of panelists
Σx = summation of x
CF = correction factor
The formula for calculating SS Error value is
47
SS Error = SS Total – SS Group
Where: SS Error = sum of squares error value
SS Total = sum of squares total value
SS Group = sum of squares group value
The value of MS Group is calculated as follows
MS Error =
Where: MS = mean square of error
SS Error = sum of square error value
df error = number of factors error
Every statistical tool will help the researcher to evaluate the data
gathered and will provide table to interpret the data.
CHAPTER IV
48
PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA
In this chapter of it represents the summary of the data that the
researchers gathered from the respondents. This research study wants
to determine the different level of their financial stress as a graduating
grade 12 students here in our school. The data that we gathered from
the questionnaires we’ve made will having three parts.
The first part of this chapter contains the profile of the
respondents that includes; gender, age, daily allowance, and level of
financial stress. The second part of the questionnaire contains level of
financial stress to grade 12 students’ daily allowance. The last part of
the questionnaire contains reasons of financial stress to the grade 12
students’ daily allowance.
1. PROFILE OF THE RESPONDENTS
TABLE 1
Gender Distribution of the Respondents
Gender Frequency Percentage
Male 23 25%
Female 69 75%
49
Total 92 100%
Table 1 shows the percentage of male and female. The
percentage of male respondents was 25% or 23 is the frequency while
the percentage of female was 75% or the frequency is 69. The total of
the respondents who answered the questionnaires are 92 and the table
shows that the female respondents are greater than male respondents.
TABLE 2
Age Distribution of the Respondents
Age Frequency Percentage

16 7 7.61%
17 52 56.52%
18 31 33.70%
19 2 2.17%
Total 92 100%
The respondents who answered the questionnaires range from
16 to 19 years old. Respondents aged 17 got the highest percentage
which is 56.52 percent, while second to the highest percentage is 18
who got 33.70 percent and the 16-year-old respondents got 7.61 and
the last one which is 19-year-old got 2.17 percent.
TABLE 3
50
Daily Allowance of the Respondents
Daily Allowance Frequency Percentage

40 1 1.09%
50 14 15.22%
60 3 3.26%
70 6 6.52%
80 6 6.52%
100 32 34.78%
120 7 7.61%
130 1 1.09%
150 13 14.13%
200 4 4.35%
250 2 2.71%
300 1 1.09%
500 2 2.17%
Total 92 100%
The range of respondent’s daily allowance is 40-500 from the 92
respondents. One respondent has 40 pesos daily allowance who got
1.09 percent. Fourteen respondents have 50 pesos daily allowance
who got 15.22 percent. Three respondents have 60 pesos daily
allowance who got 3.26 percent. Six respondents have 70 pesos daily
allowance who got 6.52 percent. Six respondents have 80 pesos daily
allowance who got 6.52 percent. Thirty-two respondents have 100
pesos daily allowance who got 34.78 percent. Seven respondents have
120 pesos daily allowance who got 7.61 percent. One respondent has
130 pesos daily allowance who got 1.09 percent. Thirteen respondents
have 150 pesos daily allowance who got 14.13 percent. Four
51
respondents have 200 pesos daily allowance who got 4.35 percent.
Two respondents have 250 pesos daily allowance who got 2.71
percent. One respondent has 300 pesos daily allowance who got 1.09
percent. Two respondents have 500 pesos daily allowance who got
2.17 percent. This table shows that those students who have 100
pesos daily allowance have a greatest number of the respondents.
TABLE 4
Level of Financial Stress of the Respondents
Level of Financial Frequency Percentage

Stress
Higher 13 14.13%
Moderately Higher 21 22.83%
Neither Higher or 25 27.17%
Lower
Moderately Lower 25 27.17%
Lower 8 8.70%
Total 92 100%
This table shows the level of financial stress of the respondents.
Thirteen respondents answered higher level of financial stress who got
14.13 percent. Twenty-one respondents answered moderately higher
who got 22.83 percent. Twenty-five respondents answered neither
higher or lower who got 27.17 percent. Also, twenty-five respondents
answered moderately lower who got 27.17 percent. Eight respondents
answered lower level of financial stress who got 8.70 percent. It

52
means that neither higher or lower and moderately lower got the
greatest number of respondents.
2. LEVEL OF FINANCIAL STRESS TO GRADE 12 STUDENTS’

DAILY ALLOWANCE
TABLE 5
Variables Weighted Mean Verbal

Interpretation
Not saving your 3.81 Agree
money can cause
higher level of
financial stress.
Being rich can cause 3.63 Agree
lower level of financial
stress.
Saving half of your 3.72 Agree
daily allowance causes
lower level of financial
stress.
Buying your wants 3.47 Agree
cause lower level of
financial stress.
Recycling some used 3.93 Agree
materials can cure
higher level of
financial stress.
Higher salary of 3.87 Agree
parents causes lower
level of financial
stress.
You can control 3.93 Agree
financial stress if you
have higher daily
allowance.
Lower level of 3.85 Agree
53
financial stress is
caused by being
creative in terms of
budgeting your daily
allowance.
You can experience 3.38 Neither Agree or
depression because of Disagree
higher level of
financial stress.
Buying needs can 3.48 Agree
cause higher level of
financial stress.
Grand Weighted Mean 3.71 Agree
The table 5 shows about the perceptions of Grade 12
respondents about the level of financial stress to their daily allowance.
The following statement with their weighted mean 3.38 respectively
with verbal interpretation of Neither Agree or Disagree. The following
statement with their weighted mean 3.81, 3.63, 3.72, 3.47, 3.93,
3.87, 3.93, 3.85, and 3.48 respectively with verbal interpretation of
Agree. It shows that most of the respondents answered agree on the
statement about the level of financial stress.
The grand weighted mean of the statement is 3.71 with verbal
interpretation of agree. This imply that the respondents are agree with
the statement about the level of financial stress.
54
3. REASONS OF FINANCIAL STRESS TO THE GRADE 12
STUDENTS’ DAILY ALLOWANCE
TABLE 6
Variables Weighted Mean Verbal

Interpretation
You can’t manage 3.29 Neither Agree or
your daily allowance. Disagree
Your parents have low 3.07 Neither Agree or

salary. Disagree
You are saving money 3.24 Neither Agree or

for your wants instead Disagree
of your needs.
You are the one who 2.29 Disagree
is providing your
allowance.
You can’t save left 2.98 Neither Agree or
money on your daily Disagree
allowance.
Your daily allowance 3.28 Neither Agree or
isn’t enough. Disagree
You are a working 2.24 Disagree
student and your
salary is not enough
for your daily needs in
school and everyday
life.
You don’t know how 3.03 Neither Agree or
to control financial Disagree
stress.
You are buying your 2.98 Neither Agree or
wants even if you are Disagree
experiencing money
problems.
You are buying 2.91 Neither Agree or
55
expensive materials Disagree

instead of recycling
some materials.
Grand Weighted Mean 2.93 Neither Agree or
Disagree
The table 6 shows about the perceptions of Grade 12
respondents about the reasons of financial stress to their daily
allowance. The following statement with their weighted mean 2.29 and
2.24 respectively with verbal interpretation of Disagree. The following
statement with their weighted mean 3.29, 3.07, 3.24, 2.98, 3.28,
3.03, 2.98, and 2.91 respectively with verbal interpretation of Neither
Agree or Disagree. It shows that most of the respondents answered
neither agree or disagree on the statement about the reasons of
financial stress to their daily allowance.
The grand weighted mean of the statement is 2.93 with verbal
interpretation of neither agree or disagree. This imply that the
respondents are neither agree or disagree with the statement about
the reasons of financial stress to their daily allowance.
56
Legend for Likert Scale
Rate Interpretation Symbols
4.21-5.00 Strongly Agree SA
3.41-4.20 Agree A
2.61-3.40 Neither Agree/Disagree NAD
1.81-2.60 Disagree D
1.00-1.80 Strongly Disagree SD
4. SIGNIFICANT DIFFERENCE
TABLE 7
Significant Relationship between Financial Stress and Daily
Allowance of Grade 12 students
Anova: Single
Factor
SUMMARY
Groups Count Sum Average Variance
Level of
Financial
Stress 92 344.8 3.747826 0.429995
Daily
Allowance 92 10380 112.8261 5512.805
57
ANOVA
Source of P-
Variation SS df MS F value F crit
Between 5.76E-
Groups 547311.1 1 547311.1 198.5445 31 3.893061
Within Groups 501704.3 182 2756.617
Total 1049015 183
The following data imply the results of computing level of
financial stress and daily allowance about the research study Level of
Financial Stress to Grade 12 Students’ Daily Allowance. The table of
level of financial stress shows that F value is 198.5445 and the F crit is
3.89, making the F value is greater than F crit. And P value is less than
0.05.
Altogether, the null hypothesis is rejected while the alternative is
accepted. It shows that there is a relation and connection between the
variables that the researchers expect.
58
CHAPTER V
SUMMARY OF FINDINGS, CONSCLUSIONS AND
RECOMMENDATIONS
In this chapter, the researchers present their perceptions and
interpretation based on the gathered data. The following discusses the
major findings, the conclusion drawn and recommendations made to
include in our study.
SUMMARY OF FINDINGS
These are the following important findings of the study:
1. The Profile of the Respondents
Most of the respondents of our research study are females which
is 69 or 75 percent while the males are 23 who got 25 percent in
population and their age is ranging from 16-19-year-old. The daily
allowance of the students ranging from 40-500 pesos and a lot of
respondents answered 100 pesos. The one who got the greater
number of levels of their financial stress is neither higher or lower and
moderately which is 27.17 percent and the rest got the least
percentage.
59
2. The respondent’s perceptions about level of financial
stress
The Grade 12 respondents who are included in this research
shows that all of their verbal interpretation is agree. The grand
weighted mean of this is 3.71 with the verbal interpretation of agree.
It shows that most of the respondents answered agree on the
statements about the level of financial stress.
The respondent’s perceptions about the reasons of financial
stress The Grade 12 respondents who are included in this research
shows that all of their verbal interpretation is neither agree or
disagree. The grand weighted mean of this is 2.93 with the verbal
interpretation of neither agree or disagree. It shows that most of the
respondents answered neither agree or disagree on the statements
about the reasons regarding level of financial stress.
3. The significant relationship between the financial stress
and daily allowance of Grade 12 students
The table shows that the F value is 198.5445 of the level of
financial stress and the F cri is 3.89, making the F value is greater
than F crit. The null hypothesis is rejected making the research study
significant.
60
CONCLUSIONS
Based on the findings these are the conclusions drawn:
1. The levels of financial stress help and teaches the students to
understand more the different levels of their financial stress.
2. This research study about financial stress is effective to everyone
especially the Grade 12 students.
3. This research study is useful to all of us and it will teach us a lot
regarding financial stress.
RECOMMENDATIONS
These are the following recommendations for this research study:
1. The researchers recommend that students must save money to
avoid financial stress.
2. Teachers can use this research study to teach those students on
how to manage their daily allowance when it comes to
requirements that they need to pass.
3. To the future researchers, this research study will help them to
have more knowledge about this study regarding financial stress.
61
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OUR LADY OF LOURDES COLLEGE

5031 GEN T. DE LEON, VALENZUELA CITY

THE PROBLEM AND ITS BACKGROUND

Everyone is experiencing financial stress and the financial stress

is one of the main problem of people. One of them are those

graduating Grade 12 students that cannot handle their allowance

properly. Students have their different level of financial stress and it

depends on their daily allowance because if they have larger

enough money to provide their needs. Students are experiencing

are struggling with handling their money.

Financial stress occurs when a student needs to process the

be helpful and talent of individuals can be shown here.

Nowadays, students are experiencing lack of financial support

needs in a month. It’s really difficult to budget their allowance because

as a graduating student. If the students are experiencing high level of

material for their requirements.

that particular subject but one of their reasons is mostly it includes

efforts. And most of the students don’t want to be a parasite to their

parents. So, they are finding ways to budget their allowance.

Altogether, experiencing financial stress is not easy because it

situation. The researchers will look at different levels of their financial

person can experience. Moreover, even if they have a lower or higher

level of financial stress it depends on them on how they will manage

their money properly.

CONCEPTUAL FRAMEWORK OF THE STUDY

of students daily allowance. Whether it’s good or bad, the researchers

below, the financial stress is connected to the positive and negative

followed by Daily Allowance wherein, they also have an important roles

allowance is important as the basis of the data that will be gathered on

the next process.

DEMOGRAPHIC PROFILE Giving the letter of

Is there a significant Retrieval of survey Improved level of

INPUT PROCESS OUTPUT

Figure 1.1 Paradigm of the study

THEORETICAL FRAMEWORK OF THE STUDY

The theories are based on our research study about levels of

has supports the entire research study.

THE CIRCULAR THEORY

According to Yardley (2018), financial Stress drives and

therefore, controls the human race where Financial Stress is defined as

of not having enough like too much or too little is a contingent of

SOCIAL COGNITIVE THEORY

As cited by (Britt et. al., 2015) asserts on a macro level that

learning is a social process influenced by cognitive, behavioral, and

environmental factors (Bandura, 1997). With the literature illustrating

a generally positive relationship between subjective financial

knowledge and lower levels of financial stress levels in college students

a student believes he or she has is realted to his or her ability to

mediate financial stressful situations. Social Cognitive Theory would

label this as self-efficacy, whcih is an important tenant of this

Financial Stress is a concern because of the negative health

outcomes associated with increased levels of stress. Therefore, as

researchers examine factors related to the likehood of reporting

financial stress, it may be useful to to turn to a health care model.

(Heckman, Lim, Montalto, 2014)

STATEMENT OF THE PROBLEM

The purpose of this survey research is to determine the level of

Grade 12 students’ financial stress by answering the questionnaires at

topic related to our research study.

This research study will seek answers to the following questions:

1. What is the profile of the respondents as to:

d. Level of Financial Stress

2. What is the level of financial stress to the Grade 12 students’