https://www.studocu.com/ph/u/43195980?

sid=01709878097

RATIONALE

The process of making a spending plan is known as budgeting. Budget refers to

this plan for spending money. Making this spending plan enables you to estimate your
financia
The process of making a spending plan is known as budgeting. Budget refers to
this plan for spending money. Making this spending plan enables you to estimate your
financial
The process of making a spending plan is known as budgeting. Budget refers to
this plan for spending money. Making this spending plan enables you to estimate your
financial
The process of making a spending plan is known as budgeting. Budget refers to this plan for spending

money. Making this spending plan enables you to estimate your financial situation in advance and decide

whether you will have enough money to accomplish your needs. If you’ve ever been worried about your

finances, budgeting can help. Actively monitor your income and expenses. An individual requires a record-

keeping system and the management of each peso within their system. Your priorities, income, and

expenses will change over time; hence, it is important to manage your budget by checking in on it frequently,

like once every three months. (Credit Counseling Society, 2022). Most people today cannot survive without

money, and students are among them. Students depend on money for a variety of daily expenses, including

food, transportation, wants, equipment, ingredients, and the majority of their educational costs. Additionally,

they want to follow trends and purchase whatever they desire while still being students, and they are also

required to pay for anything they receive through their allowance, making them unable to effectively manage

their daily finances due to this.

Managing the allowance for specialization expenses instills financial discipline and responsibility. FBS

students learn to prioritize spending, differentiate between needs and wants, and make informed decisions

about their finances. In addition, the connection between financial investment and academic success

becomes evident through allowance management. When students actively contribute to their specialization,

they are more likely to be engaged and committed to their studies. Understanding the tangible impact of their

financial decisions on their educational pursuits enables them to navigate the financial challenges of

education while fostering a sense of responsibility and commitment to their chosen field, laying the

foundation for both academic success and future professional growth.

 A multifaceted strategy is needed to address the difficulties FBS students encounter when

allocating their allowances for specialized contributions. This problem can be mitigated by putting

in place financial literacy initiatives, offering budgeting, seminars, and fostering a safe space

where students can discuss cost- cutting tactics. Furthering their research into possible

collaborations of funding sources relevant to their subjects of study may also help ensure their

financial viability. The reports of FBS students having trouble managing their allowances are

worrisome their financial load may be lessened by looking into financial aid possibilities, taking up

part-time employment, or contacting educational institutions for assistance. Efren Nolasco (2022)

claimed that the majority of Filipino students struggle to budget their allowance because it hardly

covers their daily expenses. Additionally, he stated that students who have more than 200 pesos

in their pocket when they get home from school are lucky enough. Even when they are unsure of

whether they actually need something, many students get excited about making purchase. This is

due to fact that they do not make the money they spend, however, they will eventually learn. To

save money, consider splitting or splitting things that can be shared.

Scope and Delimitation

The researchers focus on the learners of Maragusan, National High School because this place contains a

number of students in Maragusan, Davao de Oro. It will be conducted at the end of the school year 2023-

2024. This phenomenological study is limited to the tertiary education of our Grade 12 FBS learners,

considering their experiences in preparing for college. The researchers will prepare a maximum of three (3)

questions for interviews and focus on four (4) participants. The researchers will also use observation as the

basis for gathering data.

Moreover, the study is dependent on the ability of the informants and participants to describe their

experiences and answer the interview questions. Lastly, the results of the study will only be limited to the

perspectives, feelings, and knowledge of the witnesses regarding their experiences. Their responses will be

recorded, analyzed, and utilized as information to address the questions of this study.
PURPOSE STUDY

The purpose of this phenomenological study is to collect data to help FBS students understand how to

manage their allowance in order to support their area of focus. In order to comprehend the distinct financial

factors that support their area of focus. In order to comprehend the distinct financial difficulties that FBS

students encountered while offering their specialized knowledge, this study aims to acquire insights into their

new point. The goal of the research at this point is to find practical solutions to help students manage their

salary more wisely. Students at FBS demonstrate the intricate relationship between educational costs,

necessities, and few resources. The project aims to provide specific answers and interventions to improve

the financial well-being and overall academic experience of FBS students by gaining knowledge of these

issues. The main goal is to understand how these students manage their time and prioritize their time and

tasks in order to satisfy their academic obligations. To find out how our respondents budgeting their

allowance can affect their academic performance and to help them improve their financial budgeting.

The conduct of this phenomenological study has a multitude of benefits. The following individuals. First,

informed decision-making: the research can provide valuable insights into the specific financial challenges

faced by Food, Beverages, and Services (FBS) students, empowering them to make informed decisions

regarding budgeting and financial management. Second, the program improvement may contribute to

improvements in educational programs catering to FBS students by addressing their unique financial needs,

potentially enhancing the overall student experience. Third, Policy Implications: The research may inform the

development of policies at educational institutions or governmental levels to support FBS students

financially, fostering a conducive learning environment. Fourth, Financial Literacy Promotion: Identifying

struggles in budgeting could lead to initiatives promoting financial literacy among FBS students, helping them

develop essential skills for managing their finances effectively.

The study's researcher's findings can benefit academic institutions by guiding them in tailoring support

services and resources to meet the specific financial needs of FBS students. Industry stakeholders may

benefit from a workforce that is better equipped financially, potentially improving employee satisfaction and

productivity, and government agencies and policymakers can use the research to understand the financial

challenges faced by FBS students, leading to the development of targeted policies that support this particular

student group. Lastly, financial literacy program organizations or initiatives focused on promoting financial

literacy stand to benefit by incorporating insights from the research into their educational materials or

workshops, addressing the unique challenges of FBS students.