FINANCIAL LITERACY BETWEEN MALE AND FEMALE GRADE 11 STUDENTS; A BASIS FOR THE

DEVELOPMENT OF FENANCIAL SCHEME PROGRAM

Problem Rationale
This section of the research paper outlines the problem and its content, including the background of the study,
statement of the problem, objective of the study, scope and delimitation, both theoretical and conceptual
Framework, significance of the study, as well as the definition of the team

Background of the study

The financial literacy between mote and female students is influenced by many things, such as atitude,
behavior, and situation. A financial schemes program on creak various ways to mold students. This will contribute to
the overall understanding of every young student that is very important to effectively manage money whether of
which coped You might be in.

 Effect of financial literacy and lifestyle of finance student behavior by Ade This study aims to examine the
Gunawan, Chairani (2019) relationship between financial literacy and financial behavior of the lifestyle of the
student and determine differences in Financial literacy, lifestyle, and behavior of student Finance and business
economics faculty.
 Equity and diversity in institutional approaches to student-staff partnership schemes in higher education by Lucy
Mercer- Mapstone and Catherine Bouill (2000). They emphasize the importance of financial scheme programs
to students, as they will be influenced by knowledge skills and methods of handling cash or credit.
Background of the study- talks about the historical co-group of financial literacy and financial scheme program.
Statement of the study - states the significant problem that this study aims to resolve
Objective of the study -numerate different questions with regards to the proposed study.
Scope and Delimitation-indicates the area of respondents and the location of the conduct of this study.
Theoretical Framework- states different theoretical basis that supports the development of this study
Conceptual Framework- consist of analytical tools with several variations and content.
Significance of the study - answers the question of why there is a need for this financial research
Definition of terms- which emphasizes the meaning of the terms used for a better understanding of forms

Statement of the problem

In striving to achieve the purpose of this study, specific research questions were formulated and are
detailed. This research will specifically answer the following questions.
1. What is the level of financial literacy level among male & female student respondents?
2. Is there a significant difference between male & female students with regard to financial literacy?
3. What is the financial scheme program as a result of this study?

Objective of the study

The following statement are intentionally aligned with the specific questions indicated in the statement of
the problem which strives to achieve the purpose of this study.
1. To identify the level of financial literacy between male and female students.
2. To determine the difference of Financial literary of male and female student respondent
3. To develop a financial scheme program of this study.

Scope and Delimitation

This study determines the financial literacy between male and female students. The target respondents
Compostela. This study will focus in this study are the grade ll students of legacy College of Compostela. This study
will focus on the financial literacy between male and female students A/Y 2023-2024. Data gathering will contribute
to the overall understanding of the financial gap between the gender 11 students with regards to their gender
differences. The study will be conducted at Legacy College of Compostela (LCC), having all the grade 11 male and
female students as our respondents.
Theoretical Framework
Gender Role Theory by Chen & Vape 1998- Explores how societal norms influence gender-related roles and
Financial in literacy. It also draws from Experiential learning Theory by David Kolb in 1984, emphasizing hand on
learning for for improving Financial literacy.
• This proposes that traditional gender rates and expectations influence financial literacy. -Experiential
Learning Theory This theory highlights the significance of hands-on experience and learning-by-doing in improving
financial literacy

Conceptual Framework
Input - Involves, gathering data, information and resources necessary for the study and program. This includes
assessing the financial literacy of male and female students and identifying relevant educational resources.
1. Financial literacy among male and female students.
2. Significant differences between male and female students with regards to financial literacy.
3. Financial scheme program
4.Gender-specific challenges or barriers.

Process - encompasses the research methodologies and tools used to evaluate students' financial knowledge and
skills. This phase may include surveys, interviews, and other assessment methods.
Data Gathering Procedure:
•Survey Questionnaire
•Statistical Treatment
•Analysis
•Tabulation
•Recommendation
•Conclusion

Output - signifies the program's results, including improvements in students' financial literacy. It may also feature
recommendations and strategies for enhancing financial knowledge.
•Develop a financial scheme program for male and female students.

This paradigm offers a structured approach to address gender-based financial literacy disparities, emphasizing data
collection, effective processes, and meaningful outcomes, essential for the success of the Financial Scheme program
aimed at empowering these students with vital financial skills.

Significance of the study

The result and findings of the study to be conducted will contribute significantly to the following benefactors
which is the School Administrator, Teacher, Parents/Guardian, Students, Business Industry, Future Researchers.

Definition of terms
The following terms used in the study are operationally defined for deeper understanding.

Financial Literacy-This refers to how Grade 11 students manage their finances by dealing various ways and methods that
outcomes to making intensive and viable financial choices.
Financial Scheme- This refers to the established offered programs and suitable plan created by the researchers on this study,
who aim to develop and improve the area of the student’s financial literacy.
Scheme- A plan, program, or policy officially adopted and followed, as by a government or business.
Financial- the finances or financial situation of an organization or individual.
Students- The one who is learning how to research by doing research under the supervision of a more senior academic.
Development-A process that creates growth, progress, positive change or the addition of physical, economic, environmental,
social and demographic components.
SYNTHESIS
This research aims to provide a comprehensive overview of existing studies on financial literacy among male
and female students. It examines the similarities and differences in financial literacy levels, factors influencing
financial literacy, and the impact of financial literacy on various aspects of students' lives. By combining the findings
from multiple studies, this research aims to contribute to a deeper understanding of the gender disparities in
financial literacy and inform future interventions and policies to promote financial literacy among students.

The lack of long-term financing, the low rate of return, the existence of various risks, and the lack of capacity of
market players are major challenges for the development of green energy projects. (Farhad Taghizadeh-Hesary,
Naoyuko Yoshino 2020). Financial literacy in addition also includes the skills, motivation, and confidence to practice
such knowledge and understanding in order to make effective decisions across a range of financial contexts (Lusardi,
2019). Hamid and Loke (2020) examine the correlation between financial literacy, money management skill,
socioeconomic variables, overspending and impulsiveness in credit card repayment decisions among credit card
users in Malaysia. Echavez et al. (2019), financial literacy is one of the crucial factors affecting a person's financial
management. Sarsale (2021) even asserts that financial literacy has a positive correlation with entrepreneurial
characteristics. Sarsale (2021) indicates a positive correlation between financial literacy and entrepreneurial
characteristics among male and female students. According to Pipit Rosita Andarsari, Mega Noerman Ningtyas
(2019), a number of previous empirical studies found that, financially speaking, literate people tend to do budgeting,
saving, controlling expenses, managing debt well, participating in the stock market and planning pension funds, etc.
Tamara A Belousoval et.al (2019), determine the level of financial literacy among students majoring in the field of
finance and to analyze the factors contributing to its improvement. Undergraduate students seek financial
independence but are unaware of how to do simple tasks such as balance a checkbook, pay bills, understand
investment strategies, or how interest works on loans (Lin, Bumcrot, Ulicny, et al.2019). The missions and visions of
higher education institutions are to prepare students for life after college (U.SFinancial Literacy and Education
Commission, 2019). Farooq et al. (2021) examine the influence of financial literacy, financial attitude, and parental
financial socialization on prudent financial management practices among youth in Pakistan. Financial literacy,
according to Jayson Fernando, (2022) is the capacity to comprehend and utilize a range of financial skills, such as
investing, personal financial management, and budgeting. According to Luan Vardari(2020), the study's financial and
mathematical literacy helps to reflect on students' understanding of mathematics and finance acquired during their
studies to the challenges they face in real life as well as to look at how this background impacts their opinions in
practice. According to Mary Taggart Gatti (2022), Many students take on debt to finance their college education and
college is the time that people are laying the foundation for their financial future. Financial literacy is a person's
ability to manage finances for each individual to avoid financial problems (Wanda Ayuwandira 2022). According to
Sirli Mändmaa (2019), Financial literacy is a necessary skill for life that could be improved through financial
education. Arellano, Camara and Tuesta (2018) studied whether gender difference had an effect on financial literacy
and the extent of this effect if any. Gender differences were shown to be more pronounced in narrative texts
compared to other text genres (Parsons et al. 2018). Farrar, Moizer, Lean and Hyde (2019) studied the relation
between sex, retirement plan and financial literacy using the logistic regression model with 516 male and female
participants in England. Understanding why women display less financial literacy than men is crucial for developing
policies to reduce gender inequalities and improve women's financial behavior (Kinga Barraffrem. et al 2021). The
fourth fact is related to the impact of FinTech innovation on the financial literacy that can help companies make
bigger profits, and overcome the very real gender gap that still exists between women's and men's financial health
(Frame et al. 2019; Thakor 2020; Arner et al. 2020). Understanding why women present less financial literacy than
men is crucial to developing policies that lessen gender inequalities and enhance women's financial literacy, agency,
and empowerment (Tinghög et al. 2021). First, males are more likely to be more confident in taking higher financial
risks, which causes them to be more brave in taking riskier financial instruments (Afandy et al., 2020). Second,
Tinghög et al. (2021) found the stereotype that finance is the masculine domain. Therefore, the male is trusted more
to handle finance than the female. According to Haşim BAĞCI, Yunus Emre KAHRAMAN (2020), Financial literacy is
the ability of an individual to take informed decisions on basic financial practices. (Siregar, 2018) which states that
financial management education has a significant effect on financial literacy. In regard to behavior, Zahra and
Anoraga (2021) test the relationship between financial literacy, lifestyle, and social demographics with consumptive
behavior among students in Jawa Tengah. Chong et al. (2021) study the impact of financial literacy, self-coping, and
self-efficacy on financial behavior among emerging adults in Malaysia. Later Financial literacy, demonstrated through
the practice of financial record-keeping, has been linked to lower impulse buying behavior among public school
teachers (Jabar & Delayco, 2021). Goebel (2019), a director at Student Money Management Center at the University
of North Texas also stated that "For college students, financial literacy is important because the formula for college
success today has two factors which are grades and money. According to Kamini Rai et. al (2019), Financial literacy is
an ability of individuals to take considerable decisions in respect of the effective and efficient utilization of money.
Michelle Rudeloff et. al (2019. Adolescent Students need to acquire learning in order to gain new insights and
understanding about the world of finances. This can be accomplished by providing appropriate financial education
programme to the right people at the right time (Thavva, 2021). Financial literacy, as defined by Lampa et al. (2019),
refers to the ability of consumers to understand and use various financial concepts to make decisions about money
management based on their needs or desires.It combines knowledge and financial habits.

METHODOLOGY
Presented in this chapter are the research methodology and procedures in the study. It includes research
design, research respondents, research instruments, research procedure, and statistical treatment of data.
RESEARCH DESIGN
This study will employ quantitative descriptive-correlational research design which is a scientific method that
involves observing and describing the behavior of a subject without influencing it in any way.
LOCALE AND POPULATION OF THE STUDY
The target respondents in this study are the Grade Eleven (11) students of Legacy College of Compostela year
2023-2024. The sample size for the study was 122 respondents. In selecting the correct respondents that will
represent the whole population, the researcher used stratified random sampling. In this type of sampling technique,
the researcher first divided each number of students per strand by the total population of 166 and then divided by
the determined sample size of 122.
SAMPLING METHOD
In this study, the researchers determine the sample size by using Slovin's Theory which is n = N/1+ Ne. Where
n is the sample size denoted as the population of the grade eleven students of Legacy College of Compostela, year
2023-2024, e stands for the margin of error. The researchers used 0.5% as a margin of error.
DATA GATHERING TOOL
In this study, the researchers use an adapted research questionnaire from the previous research Financial
Literacy Between Male and Female Grade 11 Students of Agusan National High School: A basis for development of
the Financial Scheme Program, conducted in October 2017 by Miss Precious Anne Cantaros, questionnaire survey
conducted to understand the current state of financial literacy, i.e., financial knowledge and financial decision-
making skills of individuals. The instrument used in this study was a 10- item questionnaire that thoroughly focused
on financial literacy. To ensure validity, the checklist was scrutinized carefully and thoroughly by one expert for
approval before being given to respondents.
DATA GATHERING PROCEDURE
As a researcher, administer the data gathering process by first defining clear objectives for our study. The
researcher carefully selects appropriate data sources and designs the most suitable methods for data collection,
such as surveys. The researchers adapted data collection tools, ensuring they aligned with our research objectives.
Before launching the research. The data collection process begins by distributing surveys, conducting interviews, or
making observations. Throughout the process, the researchers diligently monitor the quality of the collected data,
addressing any inconsistencies or errors. The researchers securely store and manage the data, adhering to data
protection and privacy regulations. Finally, the researchers analyze the gathered information using appropriate
statistical or qualitative analysis methods and present my findings through reports or other suitable formats.
VALIDATION OF THE INSTRUMENT
This study uses a adapted research questionnaire by securing permission from the previous research Financial
Literacy between Male and Female Grade 11 Students of Agusan National High School: A Basis for development of
the Financial Scheme program, conducted in October 2017, by Miss Precious Anne Cantaros. The instrument use in
this study is a 10-item questionnaire that includes financial knowledge, skills, behavior, and attitude. The level of
Financial Literacy was determined through a rating scale of 1 to 4 with a descriptive equivalent as a basis.
TREATMENT OF DATA
The gathered data will be subjected to statistical analysis using the following tools: Mean also called the
average and median, will be used to determine the level of financial literacy between male and female using the
following guide; Range of Means and Verbal Description as the basis for the result T-test- will be used to determine
the significant difference in the level of financial literacy between male and female student