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Spending Behavior of Management Students
Spending Behavior of Management Students
Spending Behavior of Management Students
A Research Presented
to the Faculty of the Senior High School
University of Saint Louis
Tuguegarao City, Cagayan
In Partial Fulfillment
of the Requirements for the Course
SENIOR HIGH SCHOOL
By
April 2019
In partial fulfillment of the requirement for the SENIOR HIGH SCHOOL ABM course, this
research study entitled “SPENDING BEHAVIOR OF MANAGEMENT STUDENTS” has
been prepared and submitted by ABAWAG CHRISTINE FAITH NICHOLE B.,
ANCHETA, JOHN REX S., DOMINGO, IVY JOY B., RABINA, GENEBIB A., SACLOTE,
AARON DENVER N., TAGUINOD, GALE MYKA M.; thus, hereby presented for
approval.
DAISY A. LUYUN
Adviser
PRECIOUS BAGALAYOS
Adviser
PANEL OF EXAMINERS
Accepted and approved partial fulfillment of the requirements for the SENIOR
HIGH SCHOOL ABM course. KRISTEL M. CASTRO, LPT
Member
A puzzle can never be formed without its small pieces, fitted together.
The researchers sincerely express their deepest thanks and gratitude to the
noteworthy people who gave their innumerable contributions to reveal the picture behind
this study.
Dr. Emmanuel James P. Pattaguan, Vice President for Academics of the
University of Saint Louis Tuguegarao for his approval and guidance;
Ma’am. Mary Ann Baquiran, Principal of the High School Department and Ma’am
Jenifer Bangui, Research coordinator for their intensive but motherly supervision;
Ma’am Precious Bagalayos and Ma’am Daisy Luyun, Research advisers for
sharing their expertise in conducting such research and for giving their full support, trust,
patience and words of wisdom to help the researchers complete this study;
Panel of Examiners headed by Ma’am Jonalyn Santos, for their substantial critics
and suggestions;
Ma’am Carina Catuaan and Sir Michael Angelo Surla , for sharing their expertise
in validating the questionnaires used in this study;
The main stay faculty of the Accountancy, Business and Management, especially
Sir Garry Addatu for their moral support;
The parents and families of the researchers for their unconditional care and
support at times of success or failures;
For the management students of the SABH department who willingly participated
in this study;
Those whose worthy names were not mentioned;
And above all, to the Almighty God for everything.
Genebib A. Rabina
The Researchers
The success of this study is humbly dedicated to the Almighty God, the giver of
this challenging wave. The supportive families of the researchers; their friends and
classmates who motivated them to keep fighting despite the challenges that may come
their way; their teachers who guided them all through out the duration of conducting this
study and to all those who inspired and urged them to seek success.
Genebib A. Rabina
The Researchers
One of the challenges that college students encounter is the difficulty to control the
way they spend and in the Philippines, very minimal research has been conducted about
this. The level of the perceived problem on the spending is still not absolutely figured
out.Therefore, this study focused in determining the spending behavior of management
students of the University of Saint Louis Tuguegarao using Quantitative survey research
design. Stratified random sampling was used to determine the 234 respondents who are
taking Management Accounting, Financial Management and Marketing Management
course. A researcher-made questionnaire was used for data collection. Meanwhile,
Independent samples test and Analysis of Variance were used to test the difference on
spending behavior when grouped according to profile variables. In conclusion, monthly
allowance of management students is spent mostly on food, followed by academic
purposes and personal needs, and the least is for transportation purposes. They are
tight in spending in terms of personal needs and academic purposes while loose in
spending on food and transportation. In general, the spending behavior of management
students is not entirely affected by their course as there are other factors that contribute
to the differences of the way they spending which include sex, year level and ethnicity.
INTRODUCTION
Background of the Study …………………..……………………… 1
Research Questions ………………………..………………… 1
Hypothesis ………………………..………………… 2
Significance of the Study ……………………………..…………… 2
Literature Review ………………………………….………. 2
Research Simulacrum ……………………………………..…… 5
METHODS
Research Design ………………………………………….. 6
Locale of the Study ………………………………………….. 6
Respondents of the Study …………..…………………………….… 6
Instrumentation ….….…………………………………… 6
Data Collection Procedure ………………..………………………... 6
Data Analysis ……..………………..………………….. 7
Ethical Considerations …………………..………..…………….. 7
RESULTS …………………..………..…………….. 8
DISCUSSION …………………..………..…………….. 13
CONCLUSION …………………..………..…………….. 14
RECOMMENDATION S …………………..………..………………. 15
REFERENCES …………………………………………… 16
APPENDICES
A. Literature Matrix ….….……………………………………. 20
B. Variable Matrix ….….…………………………………… 36
C. Questionnaire ….….…………………………………… 39
D. Code Guide ….….…………………………………… 41
E. Research Instrument Table ….….………………………………… 44
F. Letter to the V.P. for Academics ….….……………………………… 45
G. Letter for Validity ….….………………………………… 47
H. Informed Consent …………………………………………. 49
I. Minutes of the Defense ………………………………………… 51
In the Philippines, very minimal research has been conducted about the
spending behavior of college students. The level of the perceived problems on the
said field is still not absolutely figured out. In this connection, the researchers decided
to conduct a study that will focus on the spending behavior of college students in the
University of Saint Louis Tuguegarao, particularly the management students.
Research Questions
Hypothesis
Literature Review
Underpinning Theory
Spending Behavior
D’Silva (2008) defined spending behavior as a conduct influencing the
manner in which a man utilize their money to fulfill their needs and needs with no
utilization of control.
He elaborated that the spending behavior of students today is fairly not quite
the same as before, he claimed that students are getting more into consumerism
consistently.
Studies have shown different factors that can affect the spending behavior of
individuals, and these include demographic factors (Levenson, 2014), age,sex,
ethnicity (Villanueva, 2017),qualities and learning or education (Norvilitis, et. Al,
2006).
Koc and Ceylan (2012), stated that consumers in lower status groups spend
the biggest portion of their income on food products. He added that the highest status
consumers always check the price labels of the food products with a high percentage
(66.67 percent) before purchasing. A total of 77 percent of study respondents stated
that they were open to spend in trying new food products. Meanwhile, consumers
within the top socioeconomic groups consider food ingredients carefully before
purchasing.
Research Simulacrum
Social Cognitive Theory by Albert Bandura (1977) suggests that the way
humans function can be explained by a triadic interaction of behavior, personal and
environmental factors. Thr researchers used this triadic interaction in establishing the
connections of the variables of this study.
The figure above illustrates the association of spending behavior (dependent
variable) with environmental factors such as personal needs, academic purposes,
food and transportation, and with personal factors such as sex, year level, course,
socioeconomic status and ethnicity (independent variables).
METHODS
This chapter discusses the methods that were used in this study which
includes research design, locale, respondents, instrumentation, data gathering
procedure, data analysis and ethical consideration.
Research Design
Instrumentation
Data Analysis
The researchers used Statistical Package for the Social Sciences (SPSS) in
analyzing the data. Specifically, descriptive statistics like frequency was used to
determine the number of respondents who belong in each category of the profile
variables, also this was used in knowing the common range of their monthly
allowance and what percentage is spent for food, transportation, academic purposes
and personal needs. Meanwhile, comparison between mean and median was used to
determine the level of spending among the respondents and the criteria include, if
Spending Behavior of Management Students | 6
mean is greater than or equal to the median, the level of spending is ‘loose’ while if
the mean is less than the median, the spending level is ‘tight’.
Furthermore, Independent Samples Test was utilized to find out if there is a
significant difference on spending behavior when grouped according to sex and year
level while One way Analysis of Variance was used for the variables such as course,
socioeconomic status and ethnicity. Post hoc was further used for the variables,
course and ethnicity to know on what particular category does the difference come
from.
Ethical Consideration
Prior to the conduct of this study, the researchers seek permission from the
SABH dean to legally convey the study to the target respondents. The respondents were
then asked for consent and only those who agreed to participate were given informed
consent and questionnaires. Strict confidentiality of the data gathered and the
respondents’ identity was assured by assigning numeric code for each respondent and
by compiling the questionnaires in a secured place.
RESULTS
The following tables summarize the relevant data taken from the survey
conducted by the researchers which dealt on the spending behavior of management
students.
Table 2.1 reveals that majority of the respondents have monthly allowance
ranging to P3001-Above.
Table 2.2 shows the breakdown of the respondents’ expenses. It reveals that the
respondents spend most of their allowance for food with a percentage of 39-55%.
Second is for academic purposes which include school supplies, review materials and
other expenses in making school requirements with a percentage of 12-23 %. This was
closely followed by their expenses for clothes and foot wears, toiletries and rent for
apartment under personal needs having a percentage of 5-21%. Meanwhile,
respondents spend the least portion of their allowance, not exceeding 10%,for
transportation purposes (fare or gas consumption).
Table 5.2. Post Hoc test of difference in Spending behavior when grouped according to
Course
Management Marketing Financial
Accounting Management Management
Management
1 4.39382* 1.37903
Accounting
Marketing
Management -4.39382* 1 -3.01478*
Financial
Management -1.37903 3.01478* 1
First Year
-2.648 .009 Reject Ho
Fourth Year
Table 6 proves that year level is one of the factors that makes the spending
behavior of the respondents different when compared to each other. Senior college
students spend their allowance more loosely compared to freshmen.
Table 7 shows that the spending behavior of the respondents who belong to
different socioeconomic class are not significantly different from each other.
Table 8.1 shows that there is a significant difference on the spending behavior of
the respondents when grouped according to ethnicity. This implies that students who
belong to different ethnicity, do not have the same way of spending.
Table 8.2. Post Hoc test of difference in Spending behavior when grouped according to
Ethnicity
Ilocano Tagalog Ybanag Itawes Others
Ilocano 1 1.05252 1.13558 .02384 -10.62199
Tagalog -1.05252 1 .08307 -1.02868 -11.67451
Ybanag -1.13558 -.08307 1 -1.11174 -11.75758
Itawes -.02384 1.02868 1.11174 1 -10.64583
Others 10.62199 11.67451 11.75758 10.64583 1
DISCUSSION
Majority of the respondents in this study are female, and are commonly taking up
Bachelor of Science in Business Administration, Major in Financial Management. The
said course has the largest sample size among the three strata.
First year students dominated the sample due to the evident increase of the
number of enrollees for the school year 2018-2019. This result can be derived on the
fact that the senior high school pioneer graduates under the K-12 curriculum have
entered tertiary level of education. Moreover most of the respondents belong to Ilocano
group.This can be due to the location of the study which is in Tuguegarao City,part of the
province of Cagayan where Ilocano ethnic group is most prominent (Philippine Statistics
Authority [PSA], 2002) .It was also discovered that most of the respondents belong to
the middle level of socioeconomic status,this fits in to the perceived range of monthly
allowance of the respondents which is Php 3001-Above.
CONCLUSION
It can be concluded that the monthly allowance of the respondents is spent mostly
on food, followed by academic purposes and personal needs, and the least is for
transportation purposes. Respondents are tight in spending when it comes to personal
needs and academic purposes while loose in spending on food and transportation. In
general, the spending behavior of management students is not entirely affected by their
course as there are other factors that contribute to the differences of the way they
spending which include sex, year level and ethnicity.
RECOMMENDATION
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students: Students' perceptions of credit card use and financial
responsibility. College Student Journal, 2. Retrieved August 15, 2018
from https://bit.ly/2IrDufp
Bordas, R., Kiss, D., & Yilmazer, T. (2008). Effectiveness of financial education
on financial management behavior and account usage: Evidence from a
‘second chance’ program. Journal of Family and Economic Issues, 29:362.
Retrieved August 30, 2018 from https://doi.org/10.1007/s10834-008-
9115x
Borden, L., Lee, S., Serido, J., & Collins, D. (2008). Changing college students‘
financial knowledge, attitudes and behavior through seminar participation.
Journal of Family and Economic Issues. Retrieved August 24, 2018 from
https://wp.stolaf.edu/sociology/files/2014/03/Consumption-and- Spending-
Patterns-at-St.-Olaf-College.pdf
Collins, J.M. & Holden, K.C., (2014). Measuring the impacts of financial literacy:
challenges for community-based financial education. in k. sprow forté, e. w.
taylor, & e. j. tisdell, eds. financial literacy and adult education. Wiley
Periodicals, pp. 79–88
Dolan, P., Elliott, A., Metcalfe, R., & Vlaev, I. (2012). Influencing financial behavior from
changing minds to changing contexts. Journal of Behavioral Finance, 13:2, 126-
142.Retrieved August 20, 2018 from
http://dx.doi.org/10.1080/15427560.2012.680995
Economic Planning Unit (2006). Malaysian ninth plan (2006-2010). Prime Minister
Department, Putrajaya. Retrieved December 16, 2018 from
http://www.epu.gov.my/html/themes/epu/html/rm9/english/Chapter16.pdf
Farinella, J., Bland, J. & Franco, J. (2017). The impact of financial education on
financial literacy and spending habits. International Journal of Business,
Accounting, & Finance, 1. Retrieved August 23, 2018 from
tiny.cc/jcrhzy
Hayhoe, C., Leach, L., Turner, P., Bruin, M., & Lawrence,
F. (2000). Differences in spending habits and credit use of
college students. Journal of Consumer Affairs, 34(1), 113-
133
Hensley, B.J. (2015). Enhancing links between research and practice to improve
consumer financial education and Well-Being. Journal of Financial
Counseling and Planning, 26(1), pp.94–101.
Holland, K. (2016). How to help your new college student avoid money minefields.
Retrieved December 16, 2018 from
https://www.consumerreports.org/budgeting/money-101-for-college-students-
how-to-budget/
Jin Jin, I. (2017). A study of spending habits among college students in miri. Retrieved
fromwww.ibs.edu.my/pdfdirectory/thesis/Project%200087.pdf onAugust 31, 2018
Koç,B. & Ceylan, M. (2012). The effects of social‐ economic status of consumers
on purchasing, behaving and attitude to food products: Case study of Van,
Turkey. British Food Journal,116. Retrieved August 15, 2018 from
https://doi.org/10.1108/00070701211230006
Levenson, N. (2014). Spending money wisely; getting the most from school district
budgets. The District Management Council (2009), 6-7. Retrieved August
27, 2018 from https://smarterschool spending. org/sites/default/files
/resource /file/ Research_ Spending%20Money% 20 Wisely.pdf
Marx, A. (2014). Higher and further education students’ income, expenditure and
debt in scotland. Journal of Economic Era, 6. Retrieved August 25, 2018
from http://www.gov.scot/ Publications /2009/06/24115743/4s
Opoku, A. (2015). Financial literacy among senior high school students: Evidence
from ghana. Financial Counselling and Planning Education, 10.
Retrieved August 22, 2018from http://ir.knust.edu.gh/ bitstre
am/123456789/8511/1/ ARMSTRON G%20OPOKU.pdf
Sabri,M., MacDonald, M., Jariah Masud, J., Paim, L., Hira T., & Othman, M. (2008)
Financial Behavior and Problems among College Students in Malaysia:
Research and Education Implication. Consumer Interests Annual, 54. Retrieved
on August 18, 2018 from https://www.consumerinterests.org/assets/
docs/CIA/CIA2008/56.sabrimasudhiramacdonaldpaim.pdf
VARIABLE MATRIX
Variable or Type of Operational How is the Behavior of the
Conceptual Variable Definition variable Variable
Tags measured
in the
study
Sex Independent Sex is the identity Measured Sex can affect
Nominal of the respondents, through the spending
Qualitative whether female or survey behavior of the
Dichotomou male. questionnair respondents. The
s e. On the means where
first part of they spend their
the money usually
questionnair depend on their
e, the sexual identity.
respondents
were asked
to check
their
correspondi
ng sex.
Course Independent Course is Measured
Nominal the field where through
Qualitative the respondents survey
Multinomial are currently questionnair
enrolled in such e. On the
as Bachelor of first part of
Science in the
Management questionnair
Accounting(BSM e, the
A), Bachelor of respondents
Science in were asked
Business to indicate
Administration the course
Major in that they are
Financial taking up.
Management
(BSBA-FM) and
Marketing
Management
(BSBA-MM).
APPENDIX C
QUESTIONNAIRE
Direction: Please fill out the following and tick the boxes that correspond to
your answers.
I. PERSONAL DATA AND INFORMATION
5 4 3 2 1
A. Personal Needs
1. I compare prices when I buy clothes, shoes
and cosmetics.
2. I spend my money on latest fashion design for
clothes, shoes, and bags.
3. I prefer higher end personal items that are
more expensive than the regular ones
4. I spend a portion of my allowance for the rent
of my apartment/boarding house.
B. Food 5 4 3 2 1
APPENDIX D
CODE GUIDE
APPENDIX E
APPENDIX F
Dear Sir:
Greetings of Peace!
We, the students from the Accountancy, Business and Management strand, will conduct
a research entitled, “Spending Behavior of Management Students.” The purpose of
this study is to know the spending behavior among college students, taking up
management course such as Management Accounting, Financial Management and
Marketing Management and to determine if there is a significant difference on the said
behavior when grouped according to sex, year level, ethnicity and socioeconomic status.
In line with this, we seek the approval of your good office to allow us to gather the
needed data from the students who are on the said courses. A questionnaire shall be
given to our respondents. Attached in this letter is the said questionnaire.
Spending Behavior of Management Students | 44
We hope for your most favorable response regarding this matter.
Respectfully yours,
Noted by:
APPENDIX G
MA CARINA B. CATUAAN
Accountancy, Business and Management Coordinator
Senior High School
University of Saint Louis Tuguegarao
Dear Maam:
Greetings of Peace!
We, the Grade 12 ABM students of this university will be conducting a study entitled
"Spending Behavior of Management Students" as a final requirement for our
subject, Practical Research 2. This quantitative survey research aims to know the
spending behavior among college students, taking up management course such as
Management Accounting, Financial Management and Marketing Management and to
determine if there is a significant difference on the said behavior when grouped
according to sex, year level, course, ethnicity and socioeconomic status.
Attached herewith is a copy of our research questionnaire as well as the clarity and
validity assessment form.
We anticipate with gratitude your effort in this noble activity. May God bless you and
your family.
Respectfully yours,
Noted by:
Dear Sir:
Greetings of Peace!
We, the Grade 12 ABM students of this university will be conducting a study entitled
"Spending Behavior of Management Students" as a final requirement for our
subject, Practical Research 2. This quantitative survey research aims to know the
spending behavior among college students, taking up management course such as
Management Accounting, Financial Management and Marketing Management and to
determine if there is a significant difference on the said behavior when grouped
according to sex, year level, course, ethnicity and socioeconomic status.
In this regard, we would like to respectfully ask your expertise in validating our
questionnaire.
Attached herewith is a copy of our research questionnaire as well as the clarity and
validity assessment form.
We anticipate with gratitude your effort in this noble activity. May God bless you and
your family.
Respectfully yours,
Noted by:
INFORMED CONSENT
This informed consent is for the respondents of the research entitled “Spending
Behavior of Management Students”
Name of Researchers: Christine Faith Abawag, John Rex Ancheta, Ivy Joy Domingo,
Genebib Rabina, Aaron Denver Saclote, Gale Myka Taguinod
Name of Organization: Senior High School, University of Saint Louis Tuguegarao City
Objective of the Study: This study aims to know the spending behavior among college
students, taking up management course such as Management Accounting, Financial
Management and Marketing Management and to determine if there is a significant
difference on the said behavior when grouped according to sex, year level, ethnicity and
socioeconomic status.
Significance of the Study: The researchers may use the results of this study to extend
frontier of knowledge regarding the factors that can affect the spending behavior of
students. Moreover, this can be a good way to formulate possible ways to eradicate or at
least prevent spending problems that are commonly encountered by students.
INFORMATION SHEET
We, the undersigned, are Senior High School students of the University of Saint Louis
and currently enrolled as Grade 12 ABM students. We wish to invite you to participate in
this research project that we are undertaking for the completion of our requirement for
the said program. Before you participate in this research, feel free to voice out any
concerns you may have to us. We will be very willing to answer any questions you may
have about the nature of our research.
You are being invited to take part in this research because the study research aims to
determine the spending behavior of college students taking management courses. This
research will be conducted among 234 respondents from the School of Accountancy,
Business and Hospitality using stratified random sampling and we believe that you can
contribute much to this project. Your participation in this research is entirely voluntary.
We can assure you that no physical risks will be incurred unto you while participating in
this study. Whether or not you choose to participate will not have any effect on your
standing as student in the university. Having been able to decide to participate in this
study, you are still free to withdraw your participation the moment that you feel safety
and privacy is at risk.
The research will make use of survey questionnaire as the method of collecting data.
Answering the questionnaire would last for about three to five minutes. If you cannot
understand a particular question asked in the questionnaire, you are free to seek
clarifications from us. Furthermore, we would like to request that you provide us your
name and contact information. Rest assured that the personal information that you
entrust to us will solely be used for research purposes only. All information that will be
obtained during the data collection process will be held confidential.
Respectfully yours,
Noted by:
CERTIFICATE OF CONSENT
I have read the foregoing information and have had the opportunity to clarify my
concerns. The questions that I have raised were answered satisfactorily. I am, therefore,
giving my voluntary consent to be a participant in this study.
___________________________________
Signature over printed name of Participant
___________________________________________________________
Signature over printed name of guardian or parent (if participant is a minor)
I have accurately read out the information sheet to the potential participant, and to the
best of my ability made sure that the participant understood the content.
I confirm that the participant was given the opportunity to ask questions, and all the
questions asked by the participant have been answered correctly. I confirm that the
individual has not been coerced into giving consent.
_________________________________________
Signature over printed name of Researcher
Date: ___________________________________
I. Proposal Defense
a. Introduction
Focus on Spending Behavior
Establish it into the difference between:
- Spending Behavior
- Budgetary Conduct
- Management Practices
- Financial Practices
- Financial Behavior
b. Literature Review
Remove some themes such as spending patterns
Consider other factors such as ethnicity
c. Methods
ABM-HUMMS, STEM H, STEM NH: Cannot be compared due to
Inequality
Change respondents of the study: Compare 1st and 2nd Year
College
d. Appendices
e. Other areas
Change title to: Spending Behavior of Management Students
b. Introduction
Give emphasis to Management students and how they apply the
knowledge that they have learned in their course, into their
spending behavior
c. Literature Review
Explain the Underpinning theory
Discuss spending behavior of business people in general
d. Results
Summarize Table 2.2 - 2.4 in one table.
e. Discussion
Do not just present similar or contradicting studies, provide
implications of the results.
f. Conclusion
Two- three sentences only
Justify whether or not, management students apply their learning
into their spending behavior
g. Other areas
Observe proper spacing