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Introduction
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 will be useful in the future. In
fact, all people in different fields have their own ways to spend and save their
money.
Money plays a vital role in every person's life. It is the medium used for
goods and materials that are necessary in life. It can also prevent the sufferings
that come with poverty like cold and hunger, give satisfaction, provide education
and even power. Without it, one cannot buy anything he needs and wants. In fact
according to Ayn Rand, money is the source of survival. She explains in her book
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.
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
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
college students spend the least of their allowance in transportation, books and
manage . Some students particularly, are expected to spend a lot of money for
the expensive materials they use on their subjects. Recognizing this, the study
therefore aims to know how students budget their allowance. The researchers
decided to survey selected junior high school student of Diplahan National High
School.
The significance in the discovery of how much a student can save money
from their allowances. Upon the information, the researcher will be able to
determine the same qualities or habits that each has and the traits that will create
Objectives
The researcher seek to describe how much allowance are given to junior
high school students in general, where they spend their allowance and how at
the same time they budget it. This will illustrate the attributes of the students
towards financial matters. The study also aims to benefit students, parents and
the Diplahan National High School upon the information gathered on the end of
the study.
This study is aimed to find out how much the Students of the Diplahan
address to the selected junior high school students during the school year 2017-
2018.
student spend?
3. Is there significance on how the students allocate their budget?
that helps a person to run his or her life, this study is significant for it will
their practice of spending money. First, this will 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.
• Parents:
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
Related Literature
paper written by Mohamad Fazli Sabri and Maurice MacDonald (2010) entitled
"Savings Behavior and Financial Problems Among Junior High School 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
management whether or not they can afford to indulge themselves during the
college years. The study done by Cunningham, 2008; Nellie, 2009 point out
those students entering their university education without ever having been
responsible for their own personal finances. While in the college or university
their financial resources is very important for everyday life activities. Financially
educated people are able to make better decision, thus lead to higher financial
Recent studies are mostly focus on the financial planning of university students
because many of them fail to plan their expenditure and unexpectedly experience
Brennan and Ritters (2008) indicated that, financial education plays a key role in
problems. Norvilities et al. (2009) and Hilgert and Hogart (2008) indicated that,
on the needs, interests, and abilities of each student. Clearly, more financial
source of financial knowledge comes from their family. Danes, Sharon M. (1994),
points out that parent plays an essential role in transferring knowledge of the
practising good financial guidance. In addition, many parents thought that they
can influence or encourage their children spending habits due to peer influence.
The family is the source for most of a child's financial knowledge and provide the
most deep-seated education. Clarke, et al. (20011) found that the poor financial
added parents have the responsibility to guide and educate their children to
create and maintain on mature responsibilities and tasks. Some parents may not
feel comfortable with their own financial situation therefore it may be difficult for
them to talk about the matter with their children. Children watch and model their
parental figures. If more parents could factually educate their children about
finance, children may be less likely to develop poor habits. Parents can help
al. (2005), young adults feel more equipped to manage their 17 own financial
student's age increase, they will probably have more money under their control
and become more responsible for their personal spending. Also they tend to
appreciate more the goods and services they buy with their own money,
especially if they have saved for them over a period of time. An allowance can
help eliminate the problem of parents having to say uno" when their children ask
for money regularly. It is an important tool for teaching money management skills
of how students manage their own money based on their needs, wants and
goals. Students should have control over how the allowances is spent or saved.
Parents can encourage their children to make careful spending decisions and
plan the use of their money. An allowance can help make students independent
Saving money for an emergency fund is important for everyone at all times.
Having a savings account for emergencies can prevent financial disaster in the
expenses. An emergency fund can also help students avoid using their credit
cards or incurring debt to pay for emergencies that arise. Dave Ramsey, an
outspoken radio talk show and television show host who teaches a course called
people should have a starter emergency fund of $1000.00. Ramsey suggests this
serve as emergency fund until they have paid off all of their high interest credit
card debt, at which they should begin building a full savings account for
emergencies.
expenses. He found that they use regular savings; 22 percent used emergency
saving now or saving earlier can certainly be a good starting point and can help
student cope with those minor emergencies that crop up in day-to-day life.
Methodology
The purpose of the study is to determine the allowance and the use of
Diplahan National High School. The objectives of this chapter is to (1) describe
the research methodology of this study. (2) explain the sample selection and (3)
describe the procedure used in designing the instrument and collecting data.
I. Research Design
A. Research Method
describe numerical data for the purpose of easier interpretation (Kazmier, 2004).
University of Santo Tomas College of Fine Arts and Design. A survey is a non
important tool for collecting and analyzing information from selected individuals. It
is widely accepted as a key tool for conducting and applying basic social science
B. Research Instrument
The researchers designed a questionnaire survey instrument to assess
It is usually faster and cheaper than interviews and direct observations. It is also
important to note that questionnaires provide reliable data that are simpler to
use this kind of instrument considering the desire to obtain first hand data from
A. Sampling Design
know how much the allowance of the respondents is in general, how and where
they spend it to and how they budget it. These questions will then illustrate the
attributes of the students towards financial matters and point out the differences
practices.
Below is the sample questionnaire:
Gender: _F_M
Grade:
__ Grade 7 __Grade 8
__ Grade 9 __ Grade 10
__ 10-20
__ 20-30
__ 30-50
__50-100
__Yes __No
__No, Never
5. If so, do you follow it (budget plan)?
6.How much money do you spend for your food every day?
__PHP10-20
__PHP20-30
__PHP30-50
__ PHP 50-100
__ Php 100-150
__Yes __No
__20-50
__50-75
__75-100
__100-200
9.Where do you think does most of your allowance go to?
__food
__ transportation
__ savings
__Always
__Often
__Sometimes
__ Never
The participants for this study is a selected junior high school students of
Diplahan National High School school year 2017-2018 o. The students is divided
into four grade 7, 8, 9 and grade 10. The researcher have therefore randomly
This chapter presents the summary of the findings, conclusions from the
This study was taken at the Diplahan National High School particularly
with the Grade 7. Grade 8, Grade 9 and Grade 10 students pertaining to the topic
• In the Junior High School students , from what grade has the
Summary of Findings
to their grade
Based on their respective grade, the Grade 10 were found to have the
• Based on the research gathered, the researchers found out that out
of the total population of the students who took the survey, almost 20% lives in
the dormitory and the remaining 80% goes home every single day. In addition to
the students going home every day, majority of the students answered that they
• It was found that the majority of 47% spends php 50-100 in their
Junior high school students spends for their projects ranges from Php 50-100,
5 .Budget Plan
observe and to know if there is a difference. But both majority of male and female
was found that they make a budget plan every day. The difference was majority
56% of male said yes and a majority of 57% in females. There is only little
• Both female and male students follow their budget plan and also
there is little difference between the majorities that said yes. Almost all of the
students (97%) was found that they save money every day and only very little
Majority of students (38%) was found that they can save money ranging
from php10-50. Followed by 23% of students who can save amount ranging
from Php50-90. Minority of the students saves php90-130 from their allowance
Conclusions
Based on the findings derived from this study, the following conclusions
were drawn:
1. Findings showed that based on their respective grade level, the
Grade 10 students were found to have the highest average of daily allowance,
shows the difference on their allowances based on their needs. It can be derived
that the grade 10 students has the highest expenditures among all junior high
school students. The average amount of all the junior students ranges from
home.
4. Almost all Junior high school students are responsible enough to try
to save money and create a budget plan, and tend to follow it. Both female and
students from the Grade 10 spends a lot based on the data and on which priority
they are following. The researchers also concluded that the Grade students
spending big amount of money on their priorities which is either food or art
materials. All in all, female students spend great amount of money on food and
art materials while on the other hand, male students has different kind of
priorities.
REFERENCES
Gender: _F_M
Grade:
__ Grade 7 __Grade 8
__ Grade 9 __ Grade 10
__ 10-20
__ 20-30
__ 30-50
__50-100
__Yes __No
6.How much money do you spend for your food every day?
__PHP10-20
__PHP20-30
__PHP30-50
__ PHP 50-100
__ Php 100-150
__Yes __No
__20-50
__50-75
__75-100
__100-200
__food
__ transportation
__ savings
__Always
__Often
__Sometimes
__ Never