Financial Literacy and Spending Habits of

Bachelor of Science in Accounting

Information System (BSAIS) Students: A
Study at PHINMA Araullo University

Report for:
Mr. Ronald Baldo

Report by:
Ms. Maisie Aisle M. Susaya
BSBA-1A

Date of Submission:
April 12, 2024
Summary/Abstract:

This study determines the financial literacy and spending habits of Bachelor of Science in

Accounting Information System students at PHINMA Araullo University in Barangay Bitas,

Cabanatuan City, Nueva Ecija, Philippines, during the academic year 2020-2021. In this study, a

total of 116 respondents were selected, and questionnaires were administered to gather data on

financial literacy and spending behaviors. They used a weighted mean, and the results, which

were examined by applying a weighted mean, are shown in tables. It indicates that the

respondents possess good financial literacy and demonstrate responsible spending habits across

academic, food, and personal needs.

Introduction:

Financial literacy is a crucial aspect of personal finance, and it is essential for students to develop

good spending habits early on. Also, understanding the spending habits and financial literacy of

BSAIS students at PHINMA Araullo University will help them better understand their financial

decision-making.

Procedure:

The researchers selected a total sample of 116 BSAIS students as respondents for this study to

examine the relationship between financial literacy and spending habits pertaining to academic,

food, and personal needs. Utilizing a 4-point Likert scale, data collection involved the

administration of questionnaires. The gathered data were analyzed using a weighted mean and

presented in tables to facilitate interpretation and analysis

Findings:

The results of the data analysis indicated that the respondents exhibited an excellent

understanding of financial concepts, demonstrating good levels of financial literacy. Moreover,

they displayed responsible spending habits across diverse expenditure categories, such as

academic expenses, food purchases, and personal needs. These findings suggest that BSAIS

students at PHINMA Araullo University possess the required knowledge and skills for effective

financial management.

Conclusions:

Based on the results, the researchers successfully gathered data from the BSAIS students at

PHINMA Araullo University based on their financial literacy and responsible spending

behaviors. The findings emphasize how crucial it is to include financial literacy in the curriculum

in order to improve students' ability to manage their finances and get them ready for new

financial challenges.

Recommendations:

To build upon the positive findings of this study, the following recommendations are proposed:

➢ To raise awareness and improve knowledge of students' financial literacy and spending
habits, it is advised that the study's findings be spread to other educational organizations.

➢ To establish partnerships with financial institutions or professionals to provide BSAIS

students with financial literacy classes that have specifically developed their knowledge
regarding financial literacy and spending habits to further enhance their financial
well-being in the future.
Bibliography:

Fernandez, R. N., Ignacio, A. J. C., Gedo Cruz, J. M. M., Santarina, A. L. A., Canlapan, M. B.,

& Simangan, R. V. (2021). Financial literacy and spending habits of Bachelor of Science in

Accounting Information System (BSAIS) students. Retrieved June 16, 2021, from

https://www.researchgate.net/publication/352481742_Financial_Literacy_and_Spending_Habits

_of_Bachelor_of_Science_in_Accounting_Information_System_BSAIS_Students