Role of Financial Management Skills in Shaping Personal Finance Habit of

Research Title Accountancy, Business and Management students at Teodoro M. Luansing

College of Rosario
BRIEF BACKGROUND: Building sound personal finance practices and financial
(Describe the background of management abilities should be the main priorities for students enrolled in the
the topic/area being Accountancy, Business, and Management (ABM) course. Budgeting,
pursued.) financial literacy, investing, saving, and making wise financial decisions are
some of these abilities. Students who are financially literate are better
equipped to manage their money with confidence, save for the future, and
efficiently manage their earnings or allowances. To attain financial stability
and success, students must comprehend and put financial management into
practice. Kwenda (2020), this is more for the purpose of investment.
There are different types of spending habits such as impulse buying, shopping
as a basic habit, spending very frequently on small items, and forgetting to
save Sham (2022) states that financial planning entails gathering and
organizing an individual's personal and financial data in order to generate a
strategic plan for managing income, assets, and liabilities in order to
accomplish both short- and long-term goals and objectives. According to
Mouna and Jarboui (2015), a lack of financial knowledge and skills can lead
to poor financial behavior, resulting in inappropriate decisions and inefficient
wealth allocation. This can also impact individuals' physical, economic, and
psychological well-being due to financial difficulties (Jorgensen and Savla,
2019). This study aims to highlight the significance of financial education for
students in the ABM track to improve their financial well-being.

Research Objective/ The study aims to determine the role of financial management skill in
Statement of the Problem
shaping personal finance habit of Accountancy Business and Management
students of Teodoro M. Luansing College of Rosario

1.What is the profile of the respondents in terms of

1.1 age?
1.2 sex?
1.3 grade level
2. What is the role of financial management skill in shaping the personal
financial habit of Accountancy Business and Management students in terms
of:
2.1 Budgeting of allowance
2.2 saving money
2.3 purchasing decision
3. To what extent does financial management skills affects in shaping the
personal finance habit of Accountancy Business and Management students?
4. What specific action can be taken to improve shaping the personal finance
 habit of Accountancy Business and Management students?

Research Hypothesis (if

there is any)

Locale of the Study The study will conduct at Teodoro M. Luansing College of Rosario

Duration of the Study 2023-2024

Research Design
This study will utilize a quantitative research design to examine the
relationship between financial management skills and personal finance habits
of ABM students. In order to gather information on the financial management
abilities and personal finance practices of a sample of ABM students, a
survey questionnaire will be distributed as part of the study project. The
degree to which ABM students' personal finance practices are influenced by
their financial management abilities will be ascertained by statistical analysis
of the survey results. The research findings will contribute to the development
on how financial management skill connected on shaping their personal
finance habits.
According to Creswell (2023), the descriptive research design is a
study that describes the characteristics of a population or phenomenon being
studied. Primarily used to gain an understanding of a group or phenomenon.
This involves collecting data through surveys, interviews, or observation

Respondents of the Study/

Sample and Sampling
In this research study, the sample will consist of ABM students in a class
Technique
named ABM 11 emerald and ABM 12 Garnet. This will constitute the study
of participants from the total population of 40 students. The survey will make
use of stratified random sampling technique to determine a reliable
presentation of the students’ sample per section. Stratification is the process
of dividing members of the population into homogeneous subgroups before
sampling (Astoria, 2011).

data gathering Instrument

 The data for this research study will be gathered via a survey
questionnaire. The survey will ask questions about the personal finance
practices, financial management skills, and how these skills affect the
financial behaviors of ABM (Accounting, Business, and Management)
students. An electronic copy of the survey will be sent to a sample of ABM
students, and the results will be gathered and examined to ascertain the
connection between personal money practices and financial management
abilities. These data collection tools will give researchers a thorough grasp of
how students' personal finance habits are shaped by their financial
management abilities.

Data Gathering Procedure BEFORE DURING AFTER

The researchers will The respondents will be The researchers will
seek permission asked to check the column collect and classify the
from a Senior High that most accurately data from the returned
School Faculty represents how they view questionnaires and will
member to the various parts of the identify the results as
administer their issues by the researchers. proofs of the research
questionnaire to the Once a senior high school study.
students of Teodoro faculty member has
M. Luansing granted permission, the
College of Rosario researchers will give the
as the respondents questionnaires to each
section's participants in the
study.

Significance of Research: This study will assess the readers on how their knowledge how important
(Briefly discuss the
financial management skill in shaping the personal habits of students at
importance of the study.)
Teodoro M. Luansing College of Rosario would be great benefit to the
following:
The students can benefit from this study because they will gain knowledge on
how to handle their money properly and it will improve their financial
management skills.
The parents can also benefit from this study because when their children
know the proper handling of money, they don’t need to provide all the
demands or needs and wants of their children. In this case the parents will
bale to save money for family and emergency use.
 To the future researchers it can be their guide and foundation to build upon by
exploring the relationship between financial management skills and personal
finance habits of students.
To the researchers this study will contribute knowledge on financial
management skills and personal finance habits of students. Providing
researchers with new insights into factors influencing personal habits

Working Bibliography:
(Write at least five (5) recent
*Jorgensen, B.L., Savla, J., 2019. Financial literacy of young adults: The
references.)
importance of parental socialization.
*https://surveypoint.ai/blog/2023/09/04/introduction-to-descriptive-design-
research/#:~:text=AccordingCreswellthedescriptive,survey
interviewsobservation.
*Azmi, N. F. B., & Ramakrishnan, S. (2018). Relationship between Financial
Knowledge and Spending Habits among Faculty of Management’ s Staff.
Journal of Economic Info, 5(3), 1-6.
*Brau, J. C., Ringwood, M., & West, J. (2020). Budget Habits of College
Students: An Empirical Analysis of Expectations and Realizations.
Journal of the Academy of Business Education, 21
CONCEPTUAL FRAMWORK
Graphical Conceptual Framework

INPUT PROCESS OUTPUT

1.What is the profile of

the respondents in terms
of
1.1 age?
1.2 sex?
1.3 grade level
2. What is the role of
financial management
skill in shaping the
personal financial habit of
Accountancy Business
and Management students
in terms of:
1.Profilling of the Strategies proposed to
2.1 Budgeting allowance
respondents manage the role of
2.2 saving money
2.Survey questionnaire financial management
2. 3 purchasing decision
3.Data analysis skill in shaping personal
3. How does financial
finance habit of the
management skills affect
students
personal finance habit of
ABM students?
4. What specific action
can be taken to improve
the personal habit of
Accountancy Business
and Management
students?

FEEDBACK
Explanation of Graphical Conceptual Framework

The first frame contains the impact of the study including the profile of the respondents in terms of age, sex
and grade level. This may also include the role of financial management skill in shaping the personal
financial habit of Accountancy Business and Management students in terms of Budgeting of allowance
spending behavior and purchasing decision. Lastly to what extent does financial management skills affects in
shaping the personal finance habit of the students?

The process represents the study’s methodology which include survey questions required to collect data for
the study the researchers will make sure that all of the survey questionnaire required for data collection are
prepared. This could involve gathering information on the students’ profile, students’ response and
statistically analysis data

Lastly the output concern all about output of the study which includes the strategies proposed to manage the
role of financial management skill in shaping personal finance habit of the students