Descriptive Research On Personal Finance in Savings Behaviour and The Knowledge Level Possessed by Graduating College Students Chapter 1 4

National Polytechnic College of Science and Technology
BACHELOR OF SCIENCE IN ACCOUNTANCY
CHAPTER 1
RESEARCH PROBLEM
In this chapter, researchers introduced regarding the research problem and present
background information in relation to the topic. These include the statement of the
problem, the null hypotheses, the scope and limitation and significance of the study.
1.1 INTRODUCTION AND BACKGROUND OF THE PROBLEM
The aim of this thesis is to introduce the concept of Personal Finance

Management and to explain the most common good of having Personal and Student
finance of graduating students along Regalado Quezon City.
We all know that money is important on our daily lives. It also plays a vital role in
every person’s life. In fact, it is the current medium of exchange in the form of coins and
banknotes. It is also used as a way to pay goods and services to pay people for their work.
It can also prevent the sufferings that come with poverty like cold and hunger, give
satisfaction, provides education and even power. Without it, one cannot buy anything he
needs and wants. Learning key financial concepts around taxes, credit and money
management would provide both understanding and confidence as you begin to navigate
your own route to future security. Discover how education, career choices and financial
planning can lead you in the right direction to making your life simpler, steadier and
more enjoyable.
(https://edynamiclearning.com/courses/high-school-personal-finance/)
At every stage of your life, you would encounter various challenges and rewards.
One of the most important things you can do to prepare for the life event you face next is
to plan ahead. Although you have likely already created a budget and saved money in
your lifetime, you would have to consider many other factors when budgeting and saving
for your family, including financial planning. According to Ayn Rand, money is the
source of survival. She explains in her book Atlas Shrugged that the source of a person's
livelihood is the verdict he pronounces in his life.
As prices of commodities become higher, money has gained more value today.
Additionally, there are only few materials left that cannot be bought by money. This is
why it is very important to spend it wisely. Still, using money doesn't end from spending,
it is also very essential to save wealth for future use and plans.
Money is a fundamental and indispensable tool to live in a materialistic world.
Only a wise person truly knows the value of it. Businessmen are people who use their
money only when it is necessary. However, they also know when to invest a lot of money
unto something they know would useful in the future. In fact, all people in different fields
have their own ways to spend and save their money.
Students on the other hand, learn to save their allowance as they grow and meet
different requirements in school as well as things they want to buy for their own.
Budgeting is one of the practical skills that come in useful for them. It helps them to
attain a better understanding of financial matters that would become handful in their
future.
However, with escalating responsibilities and opportunities as they go towards
higher level of education, particularly in college, it becomes very challenging for students
to manage their money. Tuition, textbooks and transportation are not the only things they
need to worry about, there are the housing, food and supplies together with socializing.
With their young age and lack of experience, it might be hard for college students to
budget their allowance on their own. In fact according to a research of Westwood College
in U.S., most college students spend the least of their allowance in transportation, books
and supplies but spends 40% on discretionary activities- entertainment, apparel and
services, travel and vacation.
Additionally, expenses of college students also depend on their chosen course.
Graduating students particularly, spend more money than the others because they have
such things as graduation fee, school works that need to be passed on, and etc. The
researchers decided to survey the graduating students along Regalado Quezon City.
1.2 Statement of the Problem
1. What are the profiles of graduating the students in terms of:

1.1 Age
1.2 Gender
1.3 School
1.4 No. of class per week
1.5 Living Accommodation
1.6 (working or not working)?
2. What are the financial behaviours of the graduating students?
3. How do the graduating students allocate their budget?
4. Is there significant difference in the financial behaviour and in the allocation of
budget of the graduating students when they are classified according to their
demographic profile?
1.3 HYPOTHESIS AND ASSUMPTION
In the study made, two main variables are hypothesized: null and alternative.
The null hypothesis tested in this study is:
Ho
There is no significant relationship between the age of the students and their
budget plan.
H1
There is a significance relationship between personal finance and financial

behaviour.
1.4 SIGNIFICANCE OF THE STUDY
The study deals with everyday allowance of graduating students along Regalado
Quezon City. It seeks answers as to how and where the respondents spend their money
every day. Considering that money is an essential commodity that helps a person to run
his or her life, this study is significant for it would benefit the graduating students, other
students, and parents.
 Graduating students:
This study is beneficial to graduating students to appraise their practice of
spending money. First, this would inform them where students like them
generally spend their money with. Upon this information, this study can
enlighten them on how to use their allowance wisely
 Other students:
This study seeks and enlighten other students so they have an idea on how
to budget there allowances and manage their expenses so they can save for
the future expense. This lessons benefits other students with a basic
knowledge of saving and investing. The process starts with setting

financial plan or goals.
 Parents:
This study can benefit the parents by providing insights and information
about the allowance they give to their children and how and where they
generally use it. This study can inform them as to how much allowance is
accurate for their children to use it for their needs in their chosen course.
1.5 SCOPE AND DELIMITATION
This research study was limited and conducted only at the schools located at the
Regalado Quezon City during the first semester of the school year 2018-2019. The
respondents of the study are graduating students from 19-25 years of age. The researchers
have planned to survey 15 graduating students from the schools along Regalado Quezon
City. The method the researchers would use in collecting information would through
survey. This is used to evaluate and estimate the amount of money of graduating students
spend every week and what they spend their money on.
1.6 DEFINITION OF TERMS
1. Personal Finance – Managing money, savings and investings.

2. Budget – A spending plan that accounts for your sources of income.
3. Uses – Help assist the financing process.
4. Financial Information – It is a proper record of financial events.
5. APR - Annual Percentage Rate- A standard calculation by lenders to
show what the interest rate and fees are on credit product, (e.g. loan,
credit card, etc); Allows borrowers to compare different loan products.
6. Roles – It is an act of understanding and studying Personal Finance and

related concept.
7. Organizational Strategy- Are plans of a company to propose in
accomplishing long term goals.
8. Liquid Assets – Assets which can be turned into cash easily.
CHAPTER 2
RESEARCH FRAMEWORK
This chapter encompasses the review of related literature and studies with the
synthesis and illustrations of thesis guiding the present study, theoretical and conceptual
frameworks, research paradigm and operational definition of terms.
2.1 REVIEW OF RELATED LITERATURE
Local Literature
The Breakdown of Student’s Allowance
MANILA, Philippines - For many parents, the question of how much school allowance
should they give their children is a lingering one.
By philSTAR.com's computation, parents could spend anywhere between P25,000 and

P30,000 (computed at three times a week of classes for 18 weeks of two semesters at
P250 allowance per school year). College school students typically get P150 to P250
(excluding transport allowance) per day. Students from exclusive schools like Ateneo
and DLSU receive where surrounding places to eat tend to be more expensive receive
higher allowance. The allowance covers P50 to P100 for lunch, P30 to P50 for merienda,
P20 on average for photocopies, and P50 to P80 for school requirements like printing,
buying pens, etc.
Students outside of Manila, especially those living in municipalities usually get about
P100 to P150 per day (excluding transport allowance). Transport allowance is easy to
compute, however.
Emma, mother of a college student, says that she gives her son, Paulo, P250 per day
which is P100 higher than his allowance when he was in high school. This is to account
for more photocopies and requirements in college.
She notes that “giving too much allowance to a student risks financial irresponsibility
including unnecessary hanging out with friends and playing LAN-based games in
computer shops”.
Donna, a college student from a single income family notes that she only receives P100
as an allowance. Even if she deems this insufficient, she notes that she understands that
with the death of her father, it means less resources and she need to make do with what is
given. Her siblings who are in high school in Ibaan, Batangas receive P30, which is
enough for the needs of a student in a public high school.
The frequency of giving the allowance is another issue. Students who live with their
parents usually receive their allowances daily or weekly. Students who move to study
away from their homes receive theirs weekly or monthly. Consider the cost in terms of
time and transaction charges when deciding the frequency of remitting allowance for
children who live away from home.
It is a good idea to teach kids budgeting skills as early as when they are high school.
There is nothing more real than the pain of a grumbling stomach to teach them about
handling their finances well.
Smart Budgeting for College Students

MANILA, Philippines - Most college students are living on a budget. If not, they are
likely the students who have enough to survive the whole year without worrying about
their allowances running out or the students who are simply just getting themselves into a
cycle of debt.
You can become smarter about the way you consume your money. Be wary of your
spending and keep yourself away from getting tangled up on the debt web. Bear in mind
that the key to financial success is to be well aware of how you are spending your money.
Know that there is a certain line between being cheap and having spending savvy. There
is nothing wrong with living within your means, rather than beyond them.
Now that school has started, the dreaded allowance budgeting is once again here. Stretch
your peso further with the following money saving tips:
1. Rummage through your home. Before purchasing anything from the store, search for
treasures in your own home. Stash of pens and pencils may be hidden in your dreaded
junk drawer and perfectly clean notebooks and papers may be stuffed in your cabinets.
Take note of what you already have at home and consider what you would really need
before hitting the stores.
2. Look for hand-me-down books and other reference materials. Instead of buying a
new book or photocopying handouts that you need for your classes, ask your friends who
already took up those classes if they have kept theirs. You may ask them if you may buy
or rent the materials for a much cheaper price or better if they may lend it for free for the
whole semester.
3. Do not make impulse purchases. This goes out to school supplies and other personal
belongings. Before wasting a ridiculous amount of money on anything, you must always
ask yourself first if you really need it or you just want to have it. Impulse purchases can
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quickly and massively blow your budget. Aside from creating your shopping list, set a
spending limit, and stick to both.
4. Shake off your cravings and do some meal planning. Your body needs food to
withstand the stress that come with being a college student, but that does not mean that
you have to eat plenty to stay healthy. Do not eat more than what your body needs. It is
important to oversee what you consume, because a healthy diet is a key to a strong body
and sound mind. Aside from the health benefits that you can get from eating just enough,
this may help you reduce your daily spending. Meal planning is your road map. Once you
are in the grocery store, this would help you stick to the task of eating enough and not
spending way too much. In addition, you may also try to make dinner with friends and
split the cost of groceries. Making your own coffee is also a way to save money. While
coffee shops are convenient, they charge hefty prices that really add up over time.
5. Cut out vices. While the personal indulgences provide momentous sheer visceral
pleasure that can make up for the stressful and dragging day, these vices surely drain out
a big bulk from your savings. There is nothing wrong with having fun once in a while;
just make sure that you are mostly zeroing in your money on the necessities rather than
on your personal indulgences.
Foreign Literature
This review presents a summary of the literature related to savings attitudes,

behaviors, and knowledge of graduating college students on how to manage their
Personal Finances. The basis of this study is on gathered information from the materials
we used various reference such as articles and theories among other researchers and
published and unpublished theses.
Many graduating college students are living on the edge of financial crisis and
many of them do not possess the knowledge needed to manage their personal finances.
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The purpose of the study was to determine the use of money management practices, their
savings behavior and the knowledge level possessed of Graduating college students along
schools in Regalado Fairview Quezon City.
Good money management skills are the process of budgeting, saving, investing,
spending the cash usage. Though it is not something we are born with, they are acquired
over one’s life time through many successes and some failures as well. “An allowance is
not an entitlement or salary. It is a tool for teaching children how to manage money.”
(Godfrey, 2013) Allowance is an amount of money given. It is a need for teenagers where
they can save up for their wants or daily needs.
For many of us, having a healthy financial life while in college is a challenge. The
most frequent interaction we have with money is when we spend it. And we don’t often
think about ways to manage it, and other concepts like saving, investing etc. Ann House,
accredited financial counselor and director of the Personal Money Management Center at
the University of Utah, argues that college students should spend their years working on
their finances. They should educate themselves in money management and turn that
knowledge into concrete moves.
Brushing up on skills like budgeting is essential, since many students today lack
even basic financial knowledge. “People are dealing with a topic they don’t know much
about and therefore don’t know how to manage,” says Annamaria Lusard. It’s vital for
graduating students to have a clear understanding of their monthly expenses and how
they allocate their budget comes from their allowances and part time jobs. “You can
reduce stress by at least knowing what you have to cover every month,” says Michael
Wroblewski, a D.C.-based financial planner who does a lot of work with young
professionals. “Delaying getting a handle on your situation only makes things worse.”
A budget is clearly the key to succeeding financially. Students think that a way to
pay for college is student loans, but there are other options like scholarships, financial aid
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or work options. Some can take investing classes where students can learn the process of
investing and budgeting. As a student there are also other things to spend on, it can be
wants or needs not just school supplies. Most people recommend parents to have a long-
term planning for their teen. (Caldwell, 2017)
One of the articles which has attracted researcher's attention is a term paper
written by Mohamad Fazli Sabri and Maurice MacDonald (2010) entitled "Savings
Behavior and Financial Problems Among College Students: The Role of Financial
Literacy in Malaysia". They demonstrate that students who had higher financial
knowledge were more likely to report savings behaviour and also reported fewer financial
problems. According to them, students with financial knowledge promote better financial
management whether or not they can afford to indulge themselves during the college
years. The study done by Cunningham, 2001; Nellie, 2002 point out those students
entering their university education without ever having been responsible for their own
personal finances. While in the college or university students have to manage their own
expenditures.
Student's ability to manage their financial resources is very important for

everyday life activities. Financially educated people are able to make better decision, thus
lead to higher financial security (Hilgert and Hogarth, 2003). Recent studies are mostly
focus on the financial planning of university students because many of them fail to plan
their expenditure and unexpectedly experience financial problems. While many worries
of the importance of financial education, Brennan and Ritters (2004) indicated that,
financial education plays a key role in financial empowerment.
Many researchers have suggested that a lack of financial knowledge and skills
results in students' experiencing financial problems. Norvilities et al. (2006) and Hilgert
and Hogart (2003) indicated that, financial knowledge is one 16 of the strongest predictor
of financial behaviour among college students.
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Financial management refers to a set of behaviours related to cash management,

credit management, financial planning, investments, insurance and retirement and estate
planning (Parotta & Johnson, 1998). Previous studies have found that individual positive
financial management practices have been the single most influential detenninant of
household solvency status and financial satisfaction (Joo & Grable, 2004; Parotta &
Johnson, 1998).
Lusardi points out those students who have control of their finances are more
likely to finish their degrees and be stronger alumni. “It’s a win-win solution,” she says.
“Providing this information and knowledge is the best thing that a university could do for
its own students.”
2.2 REVIEW OF RELATED LITERATURE
Local Studies
There was a study conducted in University of Santo Tomas comparing the

allowance and budget of College of Fine arts and Designs students. Their desire to obtain
was to describe how much is given to CFAD students in general, from how they are
spending it and up to how they budget their allowances. It illustrates the attributes of
students towards financial matters.
As a result of their study, the researchers were able to draw their conclusion that
students spend based on the priority they are following. The study recommends that
parents must be aware of the spending habits of their children and where most of their
allowances goes. Both parents and students must understand the importance of savings
and should try to take means to save money. The institution should conduct further
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studies to evaluate students’ issues and make adjustments for the benefit of all the
students.
Foreign Studies
A study was conducted by Kutlu Ergun analyzing the level of financial literacy
among university students in Estonia, Germany, Italy, Netherlands, Poland, Romania,
Russian Federation and Turkey. The purpose of the study was to determine the level of
financial literacy among university students, and to find out the relationship between
financial knowledge and demographic characteristics of students.
This study concluded that independent living support and improves personal
financial literacy because students who did not live with their parents had high level of
financial knowledge score. Following father's and mother's advice on financial matters
seems to be not effective to have a high level of financial literacy. Environmental and
technological influences and accessing to accurate information directly in terms of having
financial competence may be more important than parental influence.
And also, they concluded that getting financial information from university
education is the most effective way to improve students’ financial literacy. Increasing
financial courses in university education would produce positive results for students’
awareness on financial matters and sustainable development for general economy. Social
media is not effective to have good skills on personal finance as compared to university
education. Most students from all participant countries are not interested in their
retirement plan. They believe that retirement is too far away to think about right now, and
it is required for only older people. This is the case to be considered as an important data
for policy makers. On the other hand, students are more interested in unemployment rates
than inflation rate in their countries. This can be an expected result because inflation is
not a major problem compared to unemployment for most of European countries.
2.4 THEORETICAL FRAMEWORK

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Cash Diet
Depositing
Budget Plan
money
Personal finance of
Graduating
College Students
Look for Students

Build Your
Discounts
Savings
Make smart
Investment
Figure 1. Shows the possible ways of how graduating college students manage their
personal finances
2.5 CONCEPTUAL FRAMEWORK
Ability of the Ability of the Lack of financial

students in managing students in managing knowledge and skills
their allowance. their allowance. results in students'
experiencing financial
(Godfrey, 2013) (Godfrey, 2013) problems. Norvilities et
al. (2006)
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KNOWLEDGE LEVEL ABOUT PERSONAL FINANCES

OF GRADUATING COLLEGE STUDENTS AROUND
REGALADO, FAIRVIEW QUEZON CITY
Savings Behavior and Students’ ability to Importance of

Financial Problems manage their financial having knowledge in
among College resources. Personal Finance
Students
(Mohamad Fazli Sabri, (Hilgert and Hogarth, (Parotta & Johnson,
2012). 2003). 1998)
Figure 2. Conceptual Framework discusses the flow of the study being taken. This study
used the system approach. This approach is composed of three frames- the input, process
and output. The first frame contains the profile of the respondents and the Knowledge
level about Personal Finance of Graduating College Students around schools in Regalado,
Fairview Quezon City.
Research Paradigm
Input Process Output

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• Identify the demographics

of the graduating students to know Survey questionnaire - To know the
their classifications from their behavior of the
school, age, course and schedule - Checklist
graduating college
of their classes.
- Multiple Choice students in terms of
• Distinguish the attitude of saving a part of their
the students when the allowances - Rating allowances.
are already in their hands.
- Ranking - To know the level
• Know how the graduating
student’s budget and spend their of knowledge about
allowances. Personal Finance or
the Financial
• Determine if the graduating
Statistical Tool Literacy of the
students are financial literate and if
they’re already ready to budget the graduating college
income or salaries as they would - Percentage students.
enter the professional world.
- Weighted Mean
• Learn the importance of
having knowledge about saving, - Correlation
budgeting and spending their
personal finances smartly.
This paradigm shows the different processes used by the researchers to answer those
questions presented in the Statement of the Problem.
CHAPTER 3
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RESEARCH DESIGN
This chapter describes the methodology of research study, supervision of

interviewers, and data analysis techniques, including collection of data, study
design and procedure of respondent’s selection. The techniques used under
Descriptive Research Method as well as the data gathering tools and analytical
tools used would be further explained in this chapter.
3.1 RESEARCH METHOD USED
The descriptive research method is used in gathering the needed

information for this study. This method enables the researchers to interpret the
theoretical meaning of the findings and hypothesis development for further
studies. Specifically the researchers utilized a questionnaire type of descriptive
research method which enables the researchers to gather information from the
respondents without the respondents having any difficulties in answering the
questions required for the researchers to have information regarding Personal
Finance in Savings behavior of Graduating students along Regalado, Fairview,
Quezon City.
Researchers utilized the descriptive method of research. Descriptive

research according to Burns and Grove (2003), is a method that provides an
accurate portrayal or account of characteristics of a particular individual, event, or
group in real life situations. This type of research is conducted to discover new
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meaning, describe what exists, determine the frequency with which something
occurs, and categorize information.
In the words of Shields (2006), she stated further:
“Descriptive research is also called Statistical Research. The main goal of this type of
research is to describe the data and characteristics about what is being studied. The idea
behind this type of research is to study frequencies, averages, and other statistical
calculations. Although this research is highly accurate, it does not gather the causes
behind a situation. Descriptive research is mainly done when a researcher wants to gain
a better understanding of topic”.
Explanatory research is defined as an attempt to connect ideas to understand

cause and effect, meaning researchers want to explain what is going on. Explanatory
research looks at how things come together and interact. This research does not occur
until there is enough understanding to begin to predict what would come next with some
accuracy
3.2 POPULATION AND SAMPLING RESPONDENTS
The main concern of conducting this survey research is the sampling due to restricted
resources and time. The population for this study included graduating students in
different school along Regalado, Fairview, Quezon City. Convenience sampling is the
rationale behind and the selection of locale.
A random sampling procedure was used for selecting the participants in this study. This
technique was employed to ensure a fairly equal representation of the variables for the
study.
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To maintain the worth and usefulness of this survey research, the researchers selected
fifteen (15) graduating students. It is only through the researchers personal finances in
savings behaviours and the Knowledge Level Possessed by Graduating College Students.
Table 1.0
Respondent Distribution
N=15
Year/Level No. of respondent Percentage
4th year 15 100%
Total 15 100%
3.3. INSTRUMENT USED IN COLLECTION OF DATA
Organized questionnaire would use as an instrument for collection of primary data for
this study. In all, a total of fifteen copies of questionnaire would distributed and
administered to students randomly selected to fill the questionnaire by the used of an
online survey. The instrument used for the study is labelled “Descriptive research on
personal finances in savings behaviours and the knowledge level possessed by graduating
college students along schools in Regalado, Fairview, Quezon City”.
The questionnaire was divided in two main sections: the profile and the survey proper.
The profile comprised socio-demographic characteristics such as respondent’s name
(optional), course, year and section, age, gender, and birthdate.
The next part includes five (5) different questions. First part “What is the profile of the
students in terms of name, age, gender, course, year level, class schedule, and number of
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class per week. For the second part on what are the financial behaviors of the students?
Part three How the students allocate their budget? For the part four Why is it important
to know how graduating college students spend their budget? And for the part five What
is the significance of having knowledge personal finance?
3.4. DATA GATHERING PROCEDURE
The researcher wrote a letter to students to ask permission to allow the researchers
to conduct a survey in colleges along Regalado, Fairview, Quezon City.Upon the time
managing and approval, probing a lot is the researchers first based on everything. In order
to support the validity of the data, survey has been conducted to gather information. The
researchers were also consulted in the internet, books and tutorials that are conducive in
developing the research. Upon the distribution of the survey questionnaire, without much
hesitation, respondents provided answer to question stated by the researcher. They
honestly pointed out perception, concern and interest, experience, pressing factors
concerns Accounting Information System.
These data made available by respondents are subjected to statistical treatment

has been validated by restrictions. The final marks obtained from the survey would
tallied according to the frequency of items checked by the respondents; various statistical
tools would used to interpret the data after tabulated.
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September October
4th
1st 2nd 3rd 4th 1st 2nd 3rd wee
week week week week week week week k
Chapter 1: Research
problem
1.1 Background of the study
1.2 Statement of the problem
1.3 Hypothesis and

Assumption
1.4 Scope and limitation
1.5. Significance of the study
Chapter 2: Research
framework
2.1 Review of related

literature
2.2 Review of related study
2.3 Theoretical Framework
2.4 Conceptual Framework
Chapter 3:Research Design
3.1 Research method used
3.2 Population and Sampling

respondents
3.3 Instrument used in

collecting data
3.4 Data gathering

procedure
3.5 Statistical Treatment

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Chapter 4
Data presentation, analysis,

and interpretation
Testing Hypothesis
Chapter 5 Conclusion and

recommendation
5.1 Summary of findings
5.2 Conclusion
5.3 Recommendation
Bibliography
Survey Questionnaire
3.5 STATISTICAL TESTNG
In this study, the researchers used the statistical tools appropriate to the
treatment and analysis of the data that were gathered. The formulas for these
statistical tools are written as follows:
1. Percentage
This is used in the presentation of the student’s profile.
f
P= (100)
n
Where:
P – percentage
f – frequency
n – total number of respondents
2. Ranking
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This is descriptive measure to describe numerical data in addition to percentage.

Ranking system has been useful tool in this research especially in comparative
purposes and presenting the relationship and significance of items or analyzed.
3. Weighted mean
It is used in the analysis of the response of the respondents. The weighted mean
was computed using the following formula:
(f1 x s1 ) + (f2 x s2 ) + … + (fn x s n)

x̅ =
Σfn
Where:
𝐱̅ - is the weighted mean
𝐟𝐧 - is the frequency of response for each scale item
𝐬𝐧 - is the score on the particular scale item
𝚺𝐟𝐧 - is the sum of the response frequencies
Correlation Analysis
Correlation analysis was used in testing the hypothesis. It is an analysis of
two population means through the use of statistical examination. Presented below
is its formula:
r = NΣxy-(Σx)(Σy)/√[NΣx²-(Σx)²][NΣy(Σy)²]
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CHAPTER 4
Presentation, Analysis, Interpretation of Data
The purpose of this chapter is to analyze and discuss the results of a survey to test
the financial knowledge and financial behaviors of graduating students studying in
Regalado Fairview, Quezon CityProfile
Graph 1. Frequency, percentage and rank classified according to age.
Table 1 show that out of 15 respondents, eight (8) or fifty point three percent
10.0
7.5 8 (53.3%)
5.0
4 (26.7%)
2.5 3 (20%)
0.0
20 21 22
(53.3%) of them has an age of 20 years old. The next age is 21 years old having
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frequency of four (4) or twenty six percent (26.7%) respondents of total. The remaining
three (3) or twenty percent (20%) aged 22 years old.
Gender
47% Female
53% Male
Figure5.1 Respondents According to Gender
Figure 5.1 shows that out of fifteen (15) respondents, fifty three (53%) of the
respondents were female and the remaining five forty seven percent (47% )were male.
33%
40%
AMA College
Our Lady of Fatima University
STI College
27%
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Figure5.2. Respondents According to School
The biggest part of the respondents came from STI College which is forty percent
(40%). The second one is the AMA College which is thirty three percent (33%) came
from them and the last one is the Our Lady of Fatima University who has a twenty seven
percent (27%) of the respondents.
35%
23%
14% 14%
7% 7%
BS Accounting BS Information BS Computer BS Medical BS Hotel and BS Tourism

Technology Technology Engineering Laboratory Restaurant
Science Management
Figure5.3. Respondents according to Course
The thirty five percent (35%) of the respondents came from BS Information
Technology. The second one is the BS Accounting Technology which has a twenty three
(23%) of the respondents. The third one is the BS Computer Engineering and BS Medical
Laboratory Science who has respondents of fourteen percent (14%). Last one is BS Hotel
and Restaurant Management and BS Tourism who have a seven (7%) of the respondents
each.
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6.67%
6.67%
6.67%
Figure5.4 Respondents according to their Daily Allowance
It shows that in this figure sixty percent (60%) of the total respondents are agreed
that their total daily allowance are ranging to PHP 101 to PHP 200 while twenty percent
(20%) of them are in the range of PHP 50 to PHP 100. In PHP 201 to PHP 300, PHP 301
to PHP 400, and PHP 501 and others contains the same percentage of the respondent’s
population of six point sixty seven percent (6.67%) and no one agreed that their daily
allowance is PHP 401 to PHP 500.
6.67%
Figure. Respondents who has a part time job
This figure represent on how many of the respondents are currently working as a
part time while studying. Sixty six point seven percent (66.7%) of them respond for a
“no” while tirty three point three (33.3%) are “yes”.
29
Figure. If yes, do allowances gets from salaries
In the questions if there is a part time job, do they get their allowances in their
salaries? Fifty five point six percent (55.6%) of them are agreed and forty four point four
percent (44.4%) are not.
Figures. Respondents living in a dorm or apartment
This figure shows that out of fifteen (15) respondents, seventy three point three percent
(73.3%) of them are not living any apartment or dorm while twenty six point seven
(26.7%) are yes.
30
Figure. If yes, how much is the rental expenses
These figure shows that majority or eighty percent (80%) of the total respondents are
PHP 1,000 to PHP 2,000 total expenses while twenty percent (20%) of them are in PHP
2,001 to PHP 3000.
Figure. If not, how much money spent of the transportation?
Most common expenses of the graduating students is ranging to PHP 10 to PHP

50 as fifty five percent (55%) are agreed while forty four point percent (44.4%) are in
the range of PHP 51 to PHP 90.
31
Figure. Spending food everyday
Most graduating college students spent their food every day in the canteen and
carinderia with forty six point seven percent (46.7) respectively and six point six percent
(6.6%) is in the fast food restaurants.
Figure. Bringing packed lunch
This figure shows that graduating students are aware in packing lunch to lessen
expenses proving that sixty percent (60%) of them responds in “yes” while forty percent
(40%) are “no”
32
Figure. If bringing packed lunch, how much do they save?
Usually the savings of the students is in between PHP 50to PHP 100 by seventy
two point seven percent (72.7%) of the respondents while twenty seven point three
percent (27.3%) are in between PHP 101 to PHP 150 budget savings.
Figure. Spending on projects, research, or other subject related expenses
Mostly they spent their projects, research or other subject related expenses for
about to PHP 51 to PHP 100 or sixty percent (60%), second is the PHP 101 to PHP 150
by twenty six point seven percent(26.7%) and the last one PHP 151 to PHP 200 by
thirteen point three percent (33.3%)
33
Graph. Long hours of break time
Based on this graph representing on what are those things graduating students
usually doing, seven (7) or forty six point seven percent (46.7%) of the respondents does
having snacks or food trip, followed by renting computer by four (4) or twenty six point
seven percent (26.7%) of them, third they decided to go home or dorm with the friends
consist of three (3) or twenty percent (20%) and last they spent their break time doing
sports by one (1) or twenty percent (20%) of the total population.
Figure. Spent leisure time
This figures show how much students allowance spent in their leisure time and
the most frequent is PHP 50 to PHP 100 with forty percent (40%), next is PHP 101 to
34
PHP 150 with twenty six point seven percent (26.7%), next is PHP 151 to PHP 200 and
last is PHP 250 and more also none consist six point six percent 6.6%.
Figure. Communication purpose
showing on what are those communications used by the students and the most
common is surfing the internet to have access on different social media applications with
forty percent(40%) of the total respondents, followed by the registering to text and call
promos and spent mony6.7%
for communication, if it is for emergency or needed with the
same average rating of twenty six point seven percent(26.7%). And six point six percent
(6.6%) for the subscribed to monthly plan that suit to my preference of usage.
Figures. Respondents allowances goes to

35
With the total of fifteen (15) respondents, fifty three point three (53.3%) of them
agreed that projects, research or other subject related expenses are the most, second is for
the food which twenty percent (20%) of them agreed, the third one is for the
transportation thirteen point three percent (30%) and for the luxury and leisure and
communication kike loads or monthly internet is the same total of six point seven
percent(6.7%).
Ranking
Table shows the result of the respondents ranking they’re expenses in food, which
leads to 3 is the highest rank that stated respondents also spend a little bit of their money
36
in food, next is the 3 colors ( blue, green, red ) which have an equal result, and the last
one is the violet.
Project payment
Next table
Transportation
37
Budget plan
38
Figure shows that some respondents uses a budget plan which has an percentage
of forty six and seven percent (46.7%) the red one, and the next percentage is twenty six
point seven percent (26.7%) which represent Yes, always. And sometimes got an twenty
percent (20%) from respondents and the last one is No which has no percentage.
Follow the budget plan
In this figure, it represents the percentage of respondents in regards to following

their budget plan. First, Yes often had a highest percentage with thirty five point seven
percent(35.7%). And the next one is Yes, always got an twenty eight point six percent
(28.6%). The third one is twenty one point four percent (21.4%) which is the No. and the
last is fourteen point three percent (14.3%) the Yes, sometimes.
39
Try to save money
For this
How do you try to save money
How much you usually save

40
What bank account you have
Ability to manage own finance
Thrifty
41
I want to buy I don’t buy it
Put money in savings account

42
Chapter 5
SUMMARY, CONCLUSIONS, AND RECOMMENDATIONS
This chapter summarizes the study by emphasizing the research

conducted on the topic. It presents the summary of the findings, so
conclusions drawn from the findings and the corresponding
recommendations
1. Demographic Profile of Respondents
Based on the analysis and interpretation of data, the

following findings are summarized:
Result showed that the most common age of respondents

is in between 18-22.
There are 7 male and 8 female of respondents from
students along Regalado, Fairview, Quezon city.
2. COMMON FACTORS IN CONTROLLING BUDGET

Result of the findings from the respondents chose that the
budget plan is the most common factors in controlling the
budget of graduating college students. And the next one is the
cash diet may teach you to spend your money to the thing that
is important only. And the third one is the Depositing that will
help the respondents in saving their money if ever there is an
unnecessary events that will happen. Savings is the fourth
43
according to respondents emphasizing that saving your money

will help you minimize your expenses and save it for the things
that is mostly needed. And next is Make a smart investment,
respondent said that making a smart investment will help them
to increase their money but additionally, they also said that the
money you invest is at good investor so that the money will
return as what you expected. According to the observation the
last one is Look for student discount.

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Descriptive Research On Personal Finance in Savings Behaviour and The Knowledge Level Possessed by Graduating College Students Chapter 1 4

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National Polytechnic College of Science and Technology

BACHELOR OF SCIENCE IN ACCOUNTANCY

1.1 INTRODUCTION AND BACKGROUND OF THE PROBLEM

The aim of this thesis is to introduce the concept of Personal Finance

1.2 Statement of the Problem

1. What are the profiles of graduating the students in terms of:

1.3 HYPOTHESIS AND ASSUMPTION

There is a significance relationship between personal finance and financial

1.4 SIGNIFICANCE OF THE STUDY

knowledge of saving and investing. The process starts with setting

1.5 SCOPE AND DELIMITATION

1.6 DEFINITION OF TERMS

1. Personal Finance – Managing money, savings and investings.

6. Roles – It is an act of understanding and studying Personal Finance and

2.1 REVIEW OF RELATED LITERATURE

The Breakdown of Student’s Allowance

By philSTAR.com's computation, parents could spend anywhere between P25,000 and

Smart Budgeting for College Students

This review presents a summary of the literature related to savings attitudes,

Student's ability to manage their financial resources is very important for

Financial management refers to a set of behaviours related to cash management,

2.2 REVIEW OF RELATED LITERATURE

There was a study conducted in University of Santo Tomas comparing the

2.4 THEORETICAL FRAMEWORK

Look for Students

2.5 CONCEPTUAL FRAMEWORK

Ability of the Ability of the Lack of financial

KNOWLEDGE LEVEL ABOUT PERSONAL FINANCES

Savings Behavior and Students’ ability to Importance of

Input Process Output

• Identify the demographics

This chapter describes the methodology of research study, supervision of

3.1 RESEARCH METHOD USED

The descriptive research method is used in gathering the needed

Researchers utilized the descriptive method of research. Descriptive

In the words of Shields (2006), she stated further:

Explanatory research is defined as an attempt to connect ideas to understand

3.2 POPULATION AND SAMPLING RESPONDENTS

Year/Level No. of respondent Percentage

4th year 15 100%

3.3. INSTRUMENT USED IN COLLECTION OF DATA

3.4. DATA GATHERING PROCEDURE

These data made available by respondents are subjected to statistical treatment

1.1 Background of the study

1.2 Statement of the problem

1.3 Hypothesis and

1.4 Scope and limitation

1.5. Significance of the study

2.1 Review of related

2.2 Review of related study

2.3 Theoretical Framework

2.4 Conceptual Framework

Chapter 3:Research Design

3.1 Research method used

3.2 Population and Sampling

3.3 Instrument used in

3.4 Data gathering

3.5 Statistical Treatment

Data presentation, analysis,

Chapter 5 Conclusion and

5.1 Summary of findings

3.5 STATISTICAL TESTNG

This is descriptive measure to describe numerical data in addition to percentage.