Arellano University – Plaridel Campus

53 General Kalentong St. Mandaluyong City

Senior High School Department
_____________________________________________________________________
___

THE FINANCIAL LITERACY AS PERCEIVED BY THE GRADE

12 STUDENTS IN IMPROVING FINANCIAL DECISION-

MAKING SKILLS AT ARELLANO UNIVERSITY PLARIDEL

CAMPUS

_____________________________________________________________________
___

Researchers

Leader
Mary Elaine P. Sayson
Member
John Cedrick De Ocampo
Mariane Cathleen Joy L. Diaz
Dustin Andrei F. Donato
Christina Garcinego
Nichesha E. Garcia
Arashane Lareza
Johannah Marie I. Macahilig
Ella Mae A. Mataac
Marbury Dwayne Serdoncillo
Sophia Franz G. Tancioco
2023-2024
 TABLE OF CONTENTS

Title Page
Approval Sheet
Acknowledgement..........................................................................................................i
Dedication…………......................................................................................................ii
Research Abstract.........................................................................................................iii

Introduction.................................................................................................................1-3
Methods..........................................................................................................................5
Results............................................................................................................................9
Discussion....................................................................................................................10

Appendices
Appendix A
(References)
Appendix B
(Research Instrument)
Appendix C
(Letters)
Appendix D
(Research Project)
Appendix E
(Tables)
Appendix F
(Resume)
 APPROVAL SHEET

This Research entitled “THE FINANCIAL LITERACY AS PERCEIVED

BY GRADE 12 STUDENTS IN IMPROVING FINANCIAL DECISION-

MAKING SKILLS AT ARELLANO UNIVERSITY PLARIDEL CAMPUS ”

which have been prepared and submitted by (Mary Elaine P. Sayson, John Cedrick

De Ocampo,Mariane Cathleen Joy I. Diaz, Dustin Andrei F. Donato,Christina

Garcinego, Nichesha E. Garcia,Arashane Lareza, Johannah Marie I.

Macahilig,Ella Mae A. Mataac, Marbury Dwayne Serdoncillo, Sophia Franz G

Tancioco) in partial fulfilment of the requirements for the subject RESEARCH

PROJECT which had been reviewed and recommended for oral examination.

_______________________

Ms. Riesa D. Habin

(Research Adviser)

Approved as partial fulfillment of the requirement for the subject, Research Project
with the grade of ____.
 ACKNOWLEDGEMENT

First and foremost, the research would like to offer their sincerest gratitude to

their Research Project Teacher, Ms. Riesa Habin, whose dedication and understanding

towards our capacity never faltered. And to her endless effort to sustain us with the

right information. Without her guidance and effort this project won't be existing. To

all our participants who did their best to deliver us an answer that would be essential

in the gathering of our data, we want to express our sincerest gratitude.

To all of our parents and guardians who stood behind us and lifted us up

during the times where difficulties are present. Your presence and love have given us

a dedication to continue. We'll forever be striving because of you; we express our love

and gratitude.

And lastly, we would like to thank God, the Almighty, for His endless support

and love for us. The wisdom, strength, patience and love he bestowed upon us became

the strength and resilience essential to continue this research.

DEDICATION
 The researchers would like to sincerely dedicate this research to their beloved

families who encouraged and supported them emotionally and financially. They

would also like to dedicate this research to their Research Project adviser Ms. Riesa

Habin, who remained patient and opened to their inquiries and active on checking

their progress. Moreover, they also dedicate this Prudence Foundation, who released

an animated series called ‘’Cha-Ching’’ where they first learned about financial

literacy. To Mr. Robert Kiyosaki, who authored the book ‘’ Rich Dad, Poor Dad’’ that

helped them on having an in-depth understanding about Financial Literacy. And to

those students and individuals with financial problems, they dedicate this to them.

They may find money such a difficult subject right now, just know that the

researchers of this study are determined to empower Financial Literacy Awareness in

every best was possible. Lastly, the researchers would like to dedicate this to God,

who blessed them with enough resources to conduct and finish this research.

ABSTRACT
 Globally, students struggle with financial decision-making due to insufficient

financial literacy, particularly in personal budgeting and financial management due to

rapid economic changes and inflation. In this study the researchers sought to

determine the perception of students in financial literacy in terms of their financial

decision-making skills, personal budgeting, financial decisions, social status. Ten (10)

Grade 12 students from all strands were the participants of the study. This research

used Phenomenology as a research design because it explores the essence of human

experiences and the nature of things through people that experience it. Through this

design, the researchers are able to understand and comprehend the perception of

students on financial literacy in improving their financial decision-making skills This

study proved that students acknowledge financial literacy in improving their financial

decision-making skills. With financial literacy students are able to assess and analyze

the way they handle their money and financial decisions. As a result, this research is

highly recommended to social media sites that caters to many students with different

ages. The social media sites cater a lot of audience and it is the main source of

information, it does not only contain rich information but also professionals to

collaborate with in expanding and promoting financial literacy. Because financial

literacy is a basic life skill every person must have.

Keywords: Financial Literacy, Financial Decision, Personal Budgeting, Social

status, Financial Decision-Making Skills

iii
 INTRODUCTION

In today's globalized world, students face complex financial decision-making due to

insufficient financial literacy. According to Thavva (2021) Financial literacy involves

understanding money's workings and making informed decisions. With the rapid economy and

inflation, students struggle with personal budgeting and financial management. Financial education

is crucial, as it helps students develop financial habits that carry over into adulthood. As Robert

Kiyosaki famously said, "money is one form of power but what is more powerful is Financial

Education."

In the Philippines having financial literacy is a significant challenge for many Filipinos.

Ignacio (2023) stated that financial matters may appear to be the domain of adults. However,

financial education can be beneficial to impart at a young age, just like other essential life lessons.

According to Camayo (2016) there is a positive correlation between age and year level and financial

literacy, with Ilocanos being more prepared for the future based on ethnicity. Camayo (2016) also

stated that women are more interested in increasing financial literacy and future readiness. Filipino

Millennials have embraced a more independent approach to money, viewing expenditure as a way

to reward themselves or release tension (Manotoc, 2017). In foreign countries, young people are

starting to manage their own finances, allowing them to make responsible decisions and increase

their overall well-being. Wafula (2022) stated that there are ten countries reported to contain high

financial literacy. Standard and Poor’s global financial literacy survey reported that as of April 2021

Denmark, Norway, Sweden, Canada, Israeli Entity, United Kingdom, Germany, Netherlands,

Australia, and Finland obtained the position of the highest financial literacy. However, countries

like India have low levels of financial literacy, making a large population vulnerable. Governments

and organizations in other countries that rank with High financial literacy rate are now focusing on

empowering the level of awareness and establishing programs and activities for the younger

population, specifically targeting students.

 One of the researchers during the high inflation rate increase faced difficulty with managing

their finance. Especially at making financial decision since financial education that time isn’t

explored that much. The researcher settled with the few concepts that are related to financial

literacy. One being commonly known which is saving didn’t help especially when the researcher’s

economic environment changed. The researcher’s saving didn’t become an asset since its value

decreased as prices became higher. The sudden changes in the economy made the researcher

conclude that there is a lack of awareness on their part towards financial education. That lack

became the hunger for improving the researcher’s finance leading to the researcher to discover a

book entitled ‘’Rich Dad, Poor Dad’’ authored by famous finance advisor named Robert Kiyosaki

making the researcher encounter few topics about finance. Furthermore, the other researchers also

faced difficulty with making financial decision due to poor awareness towards Financial Literacy.

The frequency of financial difficulties became one of the researchers’ inspirations in conduction

this study. The main goal of the researchers in this study is to determine whether the application of

financial literacy improves the financial decision-making skills of Grade 12 students at Arellano

University Plaridel-Campus. The researchers also wanted to highlight the importance of obtaining

financial literacy at adolescence in future financial decision-making. Also, the lack of access to

financial education here in the country. The researchers also seek to acknowledge the importance

of financial literacy in personal budgeting, financial management and responsible financial

decision-making.

Statement of the Problem

This study aims to determine The Financial Literacy as perceived by Grade 12 Students in

Improving Financial Decision-Making Skills at Arellano University - Plaridel Campus. Specifically,

it intended to answer the following questions:

Research Questions

1. How does the awareness of financial literacy help grade 12 students in improving their financial

decision-making skills at Arellano University Plaridel Campus?

2.How financially literate are grade 12 students at Arellano University Plaridel- Campus on

managing their personal budget?

3.How does the financial decisions of grade 12 students at Arellano University Plaridel- Campus

affect their financial situations, especially in different economic changes?

4.How does social status affect the financial decision-making skills of Grade 12 students at

Arellano University Plaridel- Campus?

Theoretical Framework

Behavioral Finance Theory,

(Seldon, 1970, as cited in Mendoza., et al. in 2023).

This study is correspondent to the behavioral Finance theory, a theory that was cited by (Seldon,

1970 as cited in Mendoza., et al. in 2023). Considering that it focuses on the part that emotional

behaviors play in influencing financial decisions. Contrary to conventional financial theory,

behavioral finance contends that people's financial decisions can be influenced by their emotions

and their level of self- control.

Operationalized framework

With Behavioral Finance theory, the aim is to recognize the influence of psychological biases or

emotional behaviors on the financial decision of students. When observing the students' financial

knowledge, the incorporation of behavioral Finance can provide insights into the students'

awareness of cognitive biases and their ability to make financial judgment despite the biases. By
understanding and addressing these biases, students can strive for more rational and informed

financial decision making

Conceptual Framework

RESEARCH PARADIGM

INPUT

Financial Literacy

 Personal Budgeting
 Financial Decisions
 Social Status

PROCESS

Data Gathering
Interview
Interpretation of Data

OUTPUT

“To promote and empower Financial Literacy.”

PROJECT TITLE: (Animated Series: ‘’Investkada”)

The researcher's main focus was Financial Literacy, and they also covered three subtopics:

Personal Budgeting, Financial Decisions, Social status. In order to identify whether financial

literacy awareness helps in improving the students financial decision-making skills. The researchers

selected three subtopics since they are related to the main issue and would enable the researchers to

address their research questions. To identify whether financial perception improves financial
decision-making skills the researchers included personal budgeting because it depicts the

framework on how a student’s budget. The researchers also chose financial decisions in order to be

able to assess the financial literacy of students to decide. To find out how financial literacy as

perceived by grade 12 students improves financial decision making-skills, the researchers also

decided to study the students’ social status on their Financial Decision-Making skills.

Prior to obtaining data, the researchers would first get submit their consent letter of approval

allowing them to interview. Next the researchers would begin as they get the approval from their

Research Teacher. The researcher would begin to find interviewee through voluntary and

availability sampling. After obtaining their respondents the researchers would then begin to conduct

face to face semi-structured interviews. The researchers would then gather and collect the data

through audio recording, video recording, and written documentation if the interviewee does not

consent to show their face. Then, the researchers would begin to analyze the data they have

obtained.

The researchers aim to determine the financial literacy as perceived by Grade 12 Students

in Improving Financial Decision-Making Skills at Arellano University - Plaridel Campus. The

researchers also aim to empower the awareness of students towards financial literacy. The

researchers also wanted to establish responsible financial decision-making among students.

 METHODS

Research Design

The researchers decided to apply phenomenology as research design and methodology in

order to achieve the purpose of the study. This design and method contributed to the researchers to

accumulate the required data that will sustain their study.

As defined by Delve (2022), phenomenology focuses on exploring the essence of human

experiences and understanding the meaning people attribute to those experiences. It is a study that

seeks to explain the nature of things through the way people experience them (Dovetail, 2023).

Phenomenology is convenient and used since the main purpose of the research is to

determine the perception on financial literacy of students on improving their financial decision-

making skills.

Gathering of Data

Prior to conducting the research, the gathering of data was strategically planned and

thoroughly organized. The researchers first organized a structured research plan which encompasses

the objectives, methodologies, and procedures for data gathering that they would use. Before

starting the interviews, the researchers collected their materials which are consent forms, validation

letter and questionnaires. In order to obtain the datas, the researchers created open-ended

questionnaires about the Perception on Financial literacies of Grade 12 students in improving their
financial decision-making skills. The researchers then performed an Interview with the participants,

as part of the data gathering process. Subsequent to distributing semi-structured interviews, the

researchers were able to ensure a detailed understanding of the experiences and opinions of the

participant. The researchers then analyzed and study the data they obtained from the data gathering

process they conducted. The transcription of the qualitative datas were then carried out after the

organization and compilation of the Participants Interview ended. As a result, the data collection

was conducted due to the aim of getting a comprehensive and an in-depth understanding of

improving the financial decision-making skills through the perception on financial literacy of Grade

12 students.

Participants of the Study

The study involved ten Grade 12 students from AUPC, representing diverse Humanities and

Social Sciences (HUMSS) (2), academic backgrounds in business and management (ABM) (2),

information and communications technology (ICT) (2), science, technology, engineering, and

mathematics (STEM) (2), and humanities (HE) (2). The participants were selected based on their

varying levels of financial literacy awareness, determined through a financial literacy test, and

chosen using voluntary and availability sampling techniques. By including students from different

strands, the study aimed to gather valuable insights into financial literacy and its impact on financial

decision-making skills. These participants from the 2024–2025 academic year were selected to

ensure a comprehensive and relevant representation of the study's target population.

Sampling Technique

The researcher utilized availability and voluntary sampling. The use of availability sampling

is a practical method, as it targets persons who are conveniently accessible during the study time.

Voluntary sampling allows persons who want to participate to do so voluntarily. The participants

were advised that if they wanted to participate in the interview process, their availability or

willingness to accept or decline would be respected.

Research Instrument

The researchers collect information through the use of a self-made questionnaire with nine (9)

items that students in the course are required to complete in an in-depth interview. The

questionnaire consists of a set of organized and prepared questions, and the researcher will use a

consent form to ascertain the degree of agreement or disagreement with each statement addressed.

Before conducting a semi-structured interview.

Validity and Reliability Test

The researchers only have one validator, and that is Mr. Marvin Calanoc. As Mr. Calanoc is

one of the best teachers of research subjects and is the H UMSS Coordinator, the researchers chose

him as our validator because Mr. Calanoc has a vast understanding of research papers and is

knowledgeable in this field. Mr. Calanoc gave advice and opinions regarding our research paper on

how it should be done and what the correct way is to do it.

Treatment of Data

The researchers utilized electronic communication through a messaging application to

conduct interviews with participants, as some individuals were not at ease with face-to-face

interviews. Following the collection of responses, the researchers analyzed the data by organizing it

into a table and scrutinizing the participants answers.

Ethical Considerations

The researchers will apply the principles of ethical considerations developed by Bryman and

Bell (2007). In regard to the involvement to this study, the participants will not be subjected to harm

in any ways. Prior to the study, full consent will be obtained from the participants, the students and

teachers of Arellano University Plaridel Campus. In addition, the protection of the privacy of
research participants will be ensured. Voluntary participation of respondents in the research will be

treated very important. Moreover, they have rights to withdraw from the study at any stage if they

wish to do so. Their full consent will be applied before the study even begins. In handling the data,

an adequate level of confidentiality will be ensured. Any form of misleading information, as well as

representation of primary data findings in a biased way will be avoided. On the other hand,

maintaining the highest level of objectivity in discussions and analyses throughout the research will

be considered. Furthermore, affiliations in any forms, sources of funding, as well as possible

conflicts of interest will be declared. Lastly, any type of communication to this action research will

be done with honesty and transparency.

 RESULTS

In the first sub-question under research question number one, the participants were

asked that as a student, do they “demonstrate financial literacy in managing your personal budget?

please explain” and majority of these students have said no to having the financial literacy

knowledge to budget their money, while four of them consider that they apply this knowledge in

their expenses.

The next sub-question under research question number one was asked to the

participants, “what difficulties did you encounter when you tried to pursue your personal budget

plans? how were you able to overcome it?” About five students consider it difficult to try and

pursue personal budget plans because their money often falls over to school projects or unexpected

bills. Two other students tend to spend their allowance due to cravings and urges while the last two

students are able to set aside extra money for personal expenses.

And so, the last sub-question under research question number one would be; “how do

you deal with unexpected expenditures when your parents implement a limited allowance?” Eight

students stepped up to save and spend their money much more wisely, suppressing their cravings or

inner wants to spend, and two other students found their own way of limiting allowance. One of

them says they’ll acquire their own card to save their money while the other one promptly asks for a

bit of money from classmates and pays them back later once, they have extra allowance again.
 In response to the first sub-question under the second research question, participants

were asked “As a student, if our curriculum added financial literacy learning, how do you think it

would help you with dealing with different economic situations?" The majority of participants

expressed the belief that financial literacy education would enhance their ability to use money

wisely, consider budgeting, and make right financial decisions. ABM students specifically noted the

relevance of understanding economic principles such as supply and demand and inflation in

managing their finances effectively. Some participants also highlighted the importance of saving

money for future expenses and navigating economic uncertainties.

Along with that, “As a student, how did you deal with inflation of prices while having the

same allowance?" was the second sub-question under research question number two, several

participants shared various strategies for coping with rising costs. These included prioritizing needs

over wants, seeking cheaper alternatives, limiting non-essential spending, and saving money

whenever possible. Participants demonstrated resourcefulness in adjusting their spending habits to

accommodate inflation and making thoughtful choices on their daily expenses.

In the last question under the second research question, “As a student, do you consider

reviewing financial situations? If yes please explain. If not, why?", the participants shared their

financial circumstances to improve their money management skills and budget effectively, others

mentioned relying on parents for financial decisions or prioritizing necessities over luxuries. The

need for self-awareness and reflection on spending habits was shown in the responses, highlighting

the importance of understanding one's financial situation to make informed decisions.

The first sub-question under research question number three, participants were asked

"As a student what factors you considered on how social status showcased a family's financial

decision-making skills?", Four of the participants consider what their family can afford and focus
more on their necessities; others seek an alternative that meets their social status, prioritizing the

most expensive; they have a parent that is able to support and provide for their needs; and two of

them expressed their belief in accurate planning for how they manage their finances.

The second question, explores the impact of social status on students' financial decisions in

different economic situations. The responses from students consistently highlight the challenge of

balancing personal needs with the responsibility of managing their limited allowance. Many

prioritize essential expenses like transportation and school-related costs. Furthermore, students

demonstrate awareness of economic phenomena such as inflation and often choose to bring their

own meals to school as a cost-saving measure.

The last question under the third research questions, "As a student, how does your social status

and your parent’s financial decisions affect your view on handling your finances?”. Some

mentioned that their parents' financial decisions helped them learn to use money wisely and be

mindful of their spending. Others highlighted the importance of adapting to limited budgets and

learning to manage finances effectively within those situations. Many participants noted the impact

of their parents as role models for financial management, with positive habits positively influencing

their own decisions. Overall, the participants expressed gratitude for the financial guidance

provided by their parents and acknowledged the importance of responsible money management in

their own lives.

 Discussion

Specific Findings

In this study, according to the research, students have an awareness and understanding of the

need for financial literacy. It was shown that students possess the information and abilities needed

to efficiently establish and maintain budgets. They are taught how to divide up their income and

expenses, set spending priorities, and make responsible financial decisions. Since The students

spend on a lot of things; they learn how to manage their own finances, put their needs ahead of their

wants, and engage fully in class. Base on this study shows that students have become more

independent in their budgeting to meet their important needs.

This study also found that students had difficulty managing finances due to their parents'

financial allocation. They also said that due to inflation and other costs, the stipend provided by

their parents was not enough to cover all their expenses as students, even though they had planned

and budgeted their finances as well as determined what they really needed and bought inexpensive

food and try to find another food that fits their budget or has the same value as the product to save

half of the total product cost. Consistent with their financial literacy experience, students budget

makes sure to buy the essentials first, then, if they have the money available, they can buy whatever

they want. Participants emphasized their understanding of financial literacy, which improved their

personal financial decision-making skills. The researchers found that grade 12 students are in
charge of personal budgeting and financial management, and their socio-economic status influences

learning financial literacy in educational decision-making. A deeper understanding of personal

budgeting and decision-making skills has helped students cover their education while meeting their

financial needs.

General Findings

The researchers concluded that financial literacy varies widely among students, many

students lack basic knowledge about managing their finances, budgeting, and saving. Students

indicated difficulties in managing how they spend money, especially when it came to things that are

not necessary. Further, some students have limited allowances, which makes it difficult for them to

budget correctly.

Recommendation

This study is highly suggested to schools and universities. It would be beneficial for them

because this study proves that the awareness in financial literacy improves the financial decision-

making skills of students. It may serve as a guide for them as they create future curriculum, policies,

and tactics for education that will improve learning delivery while taking students' mental health

into account. The researchers also suggest this study to the parents who are managing their finances

or have children managing their own finances. This study shows that the financial decisions of the

parents affect the financial decision-making skills of children. This study might help them plan their

finances ahead. This study might also help them avoid financial difficulties for generations. This

study is highly suggested to students. They will be able to assess different financial difficulties and

practice responsible financial decision-making. With that many financial difficulties might be

avoided beforehand and many would manage their finances wisely. Additionally, they would be
able to exercise their financial literacy. Also, to the teachers since they are the firsthand to educate

students about finance. As they also as an individual face a financial crisis and manage their

finances too.

This study is also suggested to individuals facing financial difficulties currently. They would

be able to learn to adapt to new strategies in preserving and growing money. With that, more people

will be able to leave their bad financial handling habits. Additionally, it may also help them sustain

and provide for their loved ones without them sacrificing not to spend on themselves.

The researchers would like to recommend it to the future researchers. The researchers hope

to add more variables to the study, such as subjects that can have a significant impact on a student's

financial decisions-making skills, in terms of their financial literacy awareness. These subjects

might be the curriculum, over consumerism, and the student’s access to financial literary works.

With this, the study can spread more knowledge and have the ability to transmit information that

will benefit the community as a whole, not just those who are financially illiterate.

Lastly the researchers would like to suggest the proposed research project to social media

sites. The researchers would be making an animated series through computer, drawing pad and an

iPad. Apps such as flipaclip, ibispaint, capcut,and canva are employed in creating the series. On the

other hand, they would be uploading the animated series called ‘’Investkada’’on social media sites

such as facebook, tiktok, and youtube. The series would encompass different financial situations

and financial handling techniques that would promote financial literacy awareness and its

application on financial decision-making skills. With that the social media users may have an easy

access towards financial literacy and they may be able to educate themselves and apply the lessons

from the series on real life situations while enjoying an educational content.
.

APPENDICES
 APPENDIX A
References

Arya “ Financial literacy and financial education in india : an assessment” (2018).

Retrieved last March 30, 2024

fromhttps://www.academia.edu/36819236/Financial_Literacy_and_Financial_Education_in_India_

An_Assessment

Wafula” Financial literacy all over the world” (2020).Retrieved last March 28, 2024 from

https://blogs.illinois.edu/view/7550/558591870

Cada”Exploring the Budgeting Behavior of the Senior High School GAS Students of UST

Angelicum College” (2019). Retrieved last March 28, 2024 from

https://www.scribd.com/document/431256317/EXPLORING-THE-BUDGETING-BEHAVIOR-

OF-THE-SENIOR-HIGH-SCHOOL-GAS-2-STUDENTS-OF-UST-ANGELICUM-COLLEGE

Balaza”Financial Literacy integration the K to 12 Social Studies Curricula in the Philippines: Basis

for a Contextualized COVID-19 Teaching Model”(2021). Retrieved last March 28,2024 from

http://psychologyandeducation.net/pae/index.php/pae/article/view/3014
Camayo”Financial Awareness and Literacy Among the Students Of Cagayan State

University”(2016). Retrieved last March 28,2024 from

https://www.semanticscholar.org/paper/An-Analysis-on-The-Financial-Awareness-and-Literacy-

Dulin/ce66679c9ddd5cd03734799673ac93ebefdee269

APPENDIX B
Research Instrument

“The Financial literacy as perceived by Grade 12 students in improving their financial

decisions-making skills at Arellano University- Plaridel Campus”

Researchers’ note: This research aims to determine the Awareness on Financial literacy of grade

12 students on improving their financial decisions-making skills at Arellano University- Plaridel

Campus. Furthermore, the researchers would like you to answer the following questions carefully

and with honesty. Rest assured that the collected data shall be treated with the utmost

confidentiality following R.A. No. 10173, otherwise known as the Data Privacy Act of 2012.

I. Demographic Profile

Name (optional):

Age:

Gender:

II.Financial Personal Budgeting

1. How financially literate are grade 12 students at Arellano University Plaridel- Campus on

managing their personal budget?

1.1. As a student, do you demonstrate financial literacy in managing your personal budget? If yes,

how do you say so, if no, please explain.

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
_______________________________

1.2. As a student, what difficulties did you encounter when you tried to pursue your personal

budget plans? How were you able to overcome it?

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
_______________________________

1.3. As a student, how do you deal with unexpected expenditures when your parents implemented a

limited allowance?

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
_______________________________

IV. Financial Decisions

2.How does the financial decisions of grade 12 students at Arellano University Plaridel-

Campus affect their financial situations, especially in different economic changes?

2.1. As a student, If our curriculum added financial literacy learning, How do you think would it

help you with dealing with different economic situations?

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
_______________________________
2.2. As a student, how did you deal with inflation of prices while having the same allowance?
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
______________________________

2.3. As a student, do you consider reviewing financial situations? If yes please explain. If no Why?
________________________________________________________________________________
________________________________________________________________________________
__________________________________________________
_____________________________________________________________

IV. Financial Decision-Making Skills

3.How does social status affect the financial decision-making skills of Grade 12 students at

Arellano University Plaridel- Campus?

3.1 As a student, what are the factors you considered on how social status showcased a family’s

financial decision-making skills?

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
_______________________________

3.2 As a student, how do your social status contribute to your financial decisions, especially at

different economic phenomena?

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
______________________________

3.3 As a student, how does your Social status and your parent’s financial decisions affected your

view on handling your finance?

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
__________
 ___________________

Participant’s Signature

APPENDIX C
Letter of Request, Consent, and Validation
 APPENDIX D

RESEARCH PROJECT

(This kind of research project needs an action plan)

 APPENDIX E
(TABLES)

Answers of the Participants to the Interview Guide Questions.

Table 1. Financial Literacy and Managing Personal Budget

1.1. As a student, do you demonstrate financial literacy in managing your personal budget?
If yes, how do you say so, if no, please explain.
“Yes, as a student, I manage or budget my
money with financial literacy. I exclusively
Participant 1
set aside the money for my education; I don't
utilize it for anything else other than school.”
“I should practice financial literacy as a
student since I take classes like economics
and entrepreneurship that provide basic
Participant 2
knowledge. However, because I am a student,
I have a somewhat tight budget, therefore I
must respect when there isn't one.”
“I don’t think so, because most of the student
Participant 3 don't have any idea on how to demonstrate
financial literacy.”
“No, since, if you ask me, I still don't have a
firm hold on my personal budgeting because I
Participant 4
love to spend money on foods that I enjoy, but
I eventually run out of money.”
“For me as a student, I don't have financial
literacy nor do I have the knowledge what
Participant 5 financial literacy is. I lack a little knowledge
on how to save and budget for myself since
my parents are willing to meet my needs.”
“I have a limited budget, so I really need to
Participant 6 allocate it based on my needs, especially for
school expenses and personal needs.”
“No, I have not learned financial literacy in
any of the schools I’ve been or the strand I
Participant 7
am in, so I do not demonstrate financial
literacy in managing my personal budget.”
Participant 8 “I can budget, putting it where I want to go
 but it’s not very effective since we have needs
and wants. And most often than not, wants is
where I tend to spend. I have some knowledge
in financial budgeting but not put in a place
that should be. I misplace where I should
budget my money.”
“Yes, I considered financial literacy in the
personal budget because, as a person, we are
not rich in our lifestyle, and the money I
Participant 9
touch every day is important to us or to me.
So yes, I apply financial literacy to my
expenses.”
“Yes, because not all of my budget is what I
use for my own preferences, and I also use it
Participant 10
according to the important things that must
be used.”

1.2. As a student, what difficulties did you encounter when you tried to pursue your
personal budget plans? How were you able to overcome it?

Participant 1 “I found it difficult to create a budget since,

at times, my allotted amount was insufficient,
and I was unable to purchase the food I
wanted to buy during recess because I had
only set aside money for school assignments
or other necessities.”
Participant 2 “As a student I should priorities my needs
and wants when planning purchases, as
budgeting changes weekly due to increased
fares and prices may lead to buying what I
want instead of what I need.”
Participant 3 “As a student, I still have difficulties pursuing
my budget plan because of unexpected bills.”
Participant 4 “I struggle with accurate budgeting due to
my desire to buy non-essential items like face-
care cosmetics and to satisfy my cravings.”
Participant 5 “In my defense of difficulties the wants and
needs that are very expensive and hard to
earn. I have two allowances, one from my
mother for my school needs and one from my
father for my personal needs and this is the
allowance I usually save up.”
Participant 6 “I have a limited budget and primarily based
on parental allowance but it can be
challenging to budget as a group leader. I
carefully manage expenses by selecting
affordable materials for group projects to
save money.”
Participant 7 “I have face-to-face only 2 or 3 classes per
 week and my parents give me 200 pesos per
day. With the 400 or 600 pesos, I usually
bring 50 or 100 pesos and leave the rest of
the money at home to save but with the
difficulties I would say the urges to spend,
and the school projects that require money to
spend.”
Participant 8 “I think my personal difficulties are that the
money I get goes to my family. But how I
overcome it is I separate it. For example, I
have 500, I will keep 250 while the other half
are for other things like for the family and
such.”
Participant 9 “One of the difficulties I have encountered
when it comes to my savings is that there are
times when I can't save because sometimes
the expenses for school and for my food are
expensive, so that's why I can't save.”
Participant 10 “As a student, I faced a financial issue during
our research, unable to contribute due to the
significant expenses we had to make, leaving
me with no immediate solution in my personal
budget.”

1.3. As a student, how do you deal with unexpected expenditures when your parents
implement a limited allowance?

Participant 1 “I promise that I will no longer be

"magastos"; instead, I will handle money
wisely, save it all, and only use it for
necessities.”
Participant 2 “The first thing I do is determine how much I
can spend per day, and then I limit what I
want to what I need. It's also a great way to
save money on food. You should also know
where to acquire cheap food, so if there is
any at home, I will simply wrap it.”
Participant 3 “I try to always limit my wants and only focus
on my needs.”
Participant 4 “Perhaps by not buying unnecessary stuff, I
will be able to save money so that I can use
the allowance they originally gave me and
have more for when they give it to me after
that.”
Participant 5 “I'll be acquiring my own credit. So that all
my money will be saved and secured.”
Participant 6 “Based on my experience, I resolved it by
borrowing from a classmate who had extra
funds. After that, I was able to have an
 allowance again and repay them later.”
Participant 7 “Even with a limited budget. I could still
make a makeshift of something or so. Then I
could still save up.”
Participant 8 “Since my budget is limited, then I’ll have to
cut off expensive things that I’d want to have
so that I still have money to keep and the
main things that I want, then that is what I
would buy.”
Participant 9 “I save on other things; sometimes when
there are big expenses in school, I don't spend
on food; sometimes I prioritise my expenses
in school.”
Participant 10 “I will be more careful to always spend
money on myself, and I will focus more on the
important things that I should spend money
on. Let me say that I know that groupings are
coming. Until those groupings are over, I will
not spend my money and I will save more.”

Table 2.

2.1. As a student, if our curriculum added financial literacy learning, how do you think it
would help you with dealing with different economic situations?

Participant 1 “As a student, it will help me to know how to

use my money properly and how to spend it,
what are the things I should consider before I
spend.”
Participant 2 “As a student, maybe I can be given more
context on how to budget my money; as I
previously stated, the subject that discusses
financial literacy is very limited perhaps if
that is added to the subject, it will benefit all
students, but I simply need to have a better
understanding of spending money and
creating a proper budget so that your pocket
is satisfied.”
Participant 3 “As an ABM Student, it would be a great help
when it comes to dealing with different
economic situations especially these days.”
Participant 4 “I will be able to comprehend economic
principles like supply and demand and
inflation better as an ABM student if I learn
financial literacy. I can handle my money
better and make more responsive decisions in
response to developments in the economy
here.”
Participant 5 “For me, my parents have work balance. So,
I don't really encounter difficulties as a
student, but for other students it will be
helpful to them since not all parents are both
working parents and that their jobs aren't
always stable. Saving money for future
expenses is crucial especially in dealings with
accidents. Both of my parents have money to
be able to support me if accidents do come.”
Participant 6 “Helping students balance their budget based
on their allowance or savings can be
beneficial. This (if financial literacy is added
in our curriculum) can assist students in
managing the money they have.”
Participant 7 “It would be a great help especially in
learning things about like taxes, because we
students have no idea what is going on in our
economy. Let’s implement the education
system of the U.S for example, the students
there are already being taught about taxes at
grade 6? So, it would be nice if that system
were to be brought here.”
Participant 8 “I think I could utilize my budget more
effectively, instead of maybe wasting it
anywhere and have an actual plan on how I
can use the budget and money I have in a
better way.”
Participant 9 “If our curriculum includes financial literacy
learning, it will help me and the student
youth, especially in handling money.
Nowadays, there are many fees, and the price
of goods is increasing, so it is really
important that we are aware of and apply
financial literacy in our lives.”
Participant 10 “If our curriculum includes financial literacy
learning, it will help me and the student
youth, especially in handling money.
Nowadays, there are many fees, and the price
of goods is increasing, so it is really
important that we are aware of and apply
financial literacy in our lives.”
2.2. As a student, how did you deal with inflation of prices while having the same
allowance?

Participant 1 “I avoid spending money and because of

what I see my parents are having a hard time
providing my allowance so at least that way I
can help not only myself but also my
parents.”
Participant 2 “First and foremost, maybe we can't change
the way things are, so what I'm going to do is
find another way to eat where I can get the
same value as eating because the most I'll
spend is on food and fare.”
Participant 3 “I focus only on my needs and lessen my
wants. I also try to look for cheaper prices as
much as possible.”
Participant 4 “I limited my non-essential spending. In this
way, my allowance will still be able to adjust
for inflation. I made a point of saving money
whenever I could and concentrated on needs
rather than wants.”
Participant 5 “In my own expenses I can only use them if
one of my peers or friends would ask me to go
out with them and that's when I’ll be using my
own expenses, If my only problem is food, I
usually tend to have snacks that I bring on my
own in my bag. My current expenses are just
my jeepney or bus fare.”
Participant 6 “I face inflation by basing my purchases on
my allowance, especially for food. When I'm
hungry and my allowance is limited, I opt for
the cheapest food that can fill me up with the
money I have.”
Participant 7 “It’s a struggle of course since it’s rising, but
at the end of the day, even if there wasn’t an
inflation and the person was already suffering
or indigent, then really of course they would
struggle. Always saving and saving up money.
So we work on our assets and save up.”
Participant 8 “I think it wouldn’t satisfy my needs if
inflation start to rise and I can no longer
afford the things I want. So, I’d be less
satisfied when I can only buy limited things.
On how I deal with it however, whatever is
given to me, then that is all that I can use to
spend. I suppose I’ll just try to budget on
what I need even with limited allowance. The
canteen for example and I only have 50
pesos, then I can only use that for food and
drinks in small amounts. Which is fine, I’ll
just budget it instead.”
 Participant 9 “Like what is said, sometimes I will sacrifice
for example as a student my priorities school
fees than my meals and my fare.”
Participant 10 “I will save more or prioritize the expenses
that are more necessary to buy.”

2.3. As a student, do you consider reviewing financial situations? If yes please explain. If
not, why?

Participant 1 “Yes, because through this I know or see

where the money that we will use should go
and how I can budget and where I should
allocate it.”
Participant 2 “Yes, because the budget is usually limited,
so I need to know our financial condition so
that I can handle it.”
Participant 3 “Yes, because us students are the most
affected when struggles financially.”
Participant 4 “Yes, as a student of ABM, I am thinking of
looking at financial circumstances. We
studied in class the significance of
approaching financial decisions with
knowledge. I'm learning to be less
extravagant and responsible with my money
by maintaining of how I spend my money.”
Participant 5 “As a student I have experienced that my
expenses would decrease because of my
parents. Us students would often think and
engage in 'side hustles' or part time jobs.”
Participant 6 “Yes, I'm considering it, given my financial
situation. I take into account my financial
challenges.”
Participant 7 “I would reconsider or review financial
situations only if I have to. But as of now, as
a student, no. Maybe in the future once we’re
working but right now as a student no I would
not.”
Participant 8 “Not really, because I lack knowledge in that
aspect and it isn’t necessary for me. I just
tend to let my parents handle those situations
to them.”
Participant 9 “As a student, I review my financial situation
so that I know where my flaws are in that
situation. Sometimes I spend too much, so I
always review what I spend during this time.”
Participant 10 “As a student, I have to consider those
situations because we are here in this
reality.”
 Table 3.

3.1. As a student, what are the factors you considered on how social status showcased a
family’s financial decision-making skills?

Participant 1 “As a student, I consider our status in life and

what our family can afford. Sometimes I find
it difficult to spend on myself and my needs.
We consider our needs to be more important
than anything else.”
Participant 2 “Because each student's social status is
unique, perhaps you'll notice this as well. For
example, instead of purchasing more
expensive food, I'll examine where my budget
is and see if there's an alternative that meets
my social status.”
Participant 3 “I think have the most basic knowledge is a
must to have the accurate planning.”
Participant 4 “I believe that accurate planning requires at
least the most fundamental understanding.”
Participant 5 “Not all people have their own budget;
there's a limit to what they can buy. Like I
have said, I don't have many limitations since
I have my parents that work for me and my
siblings and they are able to balance their
work for us. That's why I don't have much
knowledge about that. Although, I can see
that it can help them grow as an adult
because they can save money for their future
while being a student. It can help us know
what our budget is, especially if you're a
working student. You need to know how to
save for your monthly expenses or how you
can save within a month.”
Participant 6 “Having financial decision-making skills can
demonstrate when you can balance your
family's finances better. For example, if I
come from a low-income household, having
financial decision-making skills can
potentially improve our financial situation
and help us overcome hardship.”
Participant 7 “I’m not really that rich nor am I that poor,
just set in the middle class of things but we
still experience if we’re getting to the point of
being deficient. As a learning student, let’s
say Meralco, our bill there is pretty hefty as
well as our water bill and let’s say gas. So
what happens here, if you’re in the mid-range
 of your finances or salary— what my mother
does is she collects what is the most expensive
and what is the most used source like water
and electricity, that is what we prioritize in
paying for first.”
Participant 8 “Allowance, depending on how much money
they give to their children. And since there
are public and private schools, and their level
of education, there we could see if their
families are lower income or higher income,
we can see how they manage their finances.”
Participant 9 “In family, it is your state in life and your
status in society. It sometimes affects me as a
student because there are also sacrifices; for
example, there are school fees, and it seems
that there is a lack of financial support or
payment. join in an important activity.”
Participant 10 “As a student, it's okay in the past, we're used
to being able to buy anything we want, and
now of course our prices are increasing,
there are times when we can't get what we
want.”

3.2. As a student, how do your social status contribute to your financial decisions, especially
at different economic phenomena?

Participant 1 “It will help to give more attention to the

needs that my family has, and then we will
learn how to handle our money more
correctly.”
Participant 2 “That's the only thing because our financial
situation isn't as good as it could be, so I'm
more limited and don't have the freedom to
buy what I still want to buy compared to
people with a better financial situation, so I
focus more on needs, so even if I really want
something, if I don't really need it, that's
really my only basis, like whether I can live
with what I bought or live without it.”
Participant 3 “I tend to know more and that's one of the
advantages as a student.”
Participant 4 “One benefit of being a student is that I
prefer to know more knowledge.”
Participant 5 “For inflation, it is mostly on products,
especially vegetables. As a student, I'm a
picky eater. My only problem is food outside.
Most fast-food restaurants have meat and
poultry, but my favorite is Thai food, and the
prices have gone up a maximum of five times.
 That's why it's much better, and I prefer to
cook on my own rather than buy something
from outside.”
Participant 6 “My social status affects my financial
decisions. For instance, when I'm hungry and
short on money, I often choose to save rather
than spend, especially when I have limited
funds and need to save for transportation and
school expenses.”
Participant 7 “The decision making here is what’s crucial
first. As I’ve said earlier, it’s better to pay
what is most crucial first since you could just
pay off the less expensive ones last since it’ll
be easier than paying off the ones that are
more helpful and expensive.”
Participant 8 “Since our status is pretty low, I need to keep
some money for emergencies and spend it
only on what I need since we aren’t
necessarily capable sometimes.”
Participant 9 “It will help me in my life because I think that
if only I have enough finances for my
expenses as a student, it will help me a lot
because there are many opportunities,
especially if I can get a job, and that is when I
lack time and I don't have enough money. My
shortcomings can be filled up there if only I
have enough money.”
Participant 10 “It affects me because I had a hard time
because that's what I grew up with, and when
it came to our view, it was hard for me to
spend time thinking about the things that
shouldn't be done. Since our culture is
changing nowadays.”

3.3. As a student, how does your social status and your parent’s financial decisions affect
your view on handling your finances?

Participant 1 “My parents' decisions help me because I

learned to use my money carefully.”

Participant 2 “Since I'm aware of my family's situation, if

the budget is limited, I'll just respect that and
adjust to where I'm satisfied with what's given
to me. It's also difficult because you might be
short at least when you plan ahead of time,
and you won't be short even if you know that
an amount is limited.”

Participant 3 “My perspective on managing money has

 been significantly influenced by my social
standing and my parents' financial choices.
Sometimes my opinions weren't taken
seriously. Still, I'm learning a lot and trying
to improve my financial decision-making.”
Participant 4 “Being a teenager, I can speak at times, but
people may not always take my age into
consideration.”
Participant 5 “My parents have their own part in what
they're able to pay. Like I said, my mother
gives me a school allowance, and that's only
for school needs, while my father gives me my
personal allowance. For example, my father
pays for the bills at home while my mother
pays the bills at school. That's how we can
handle our finances; we have our parts to pay
as well.”
Participant 6 “My parents' views influence me, as they are
my role models in handling money. If they
show good financial habits, it positively
impacts my own financial decisions. I am
grateful that my parents are skilled at
managing money and have set a good
example for me.”
Participant 7 “It’s very nice and very useful because we
would list things from the most expensive to
the most inexpensive. It goes really smoothly,
especially if you know how to save money
since you can handle it well and how to
effectively save up some money.”
Participant 8 “For me, I think your money shouldn’t be a
waste on things you don’t necessarily need
and you need to manage your money much
more responsibly to what you spend on.”
Participant 9 “It affected me in a good way; I learned to
save, save money, and be aware of expenses.”
Participant 10 “Because my parents also experienced
difficulties in life, we are trained to be good
at handling money, and they give us advice
on how to spend our money. They also taught
me that when you want something, choose it
first and make sure you can use it.”
APPENDIX F
Resume