IMPACTS OF FINANCIAL LITERACY TO THE STUDENTS OF ARELLANO

UNIVERSITY – ELISA ESGUERRA CAMPUS

Presented to the class of

Ms. April Sheen Ibahan

In Partial Fulfillment of Requirements in

Practical Research I

Submitted by:

Agarro, Sophia Klein D

Ciriaco, Justine M.

Golondrina, Angeline Marie B.

Gutierrez, Lyka Nicole S.

Mondero, Trisha F.

Roxas, Jonel A.

Ruba, Cyrel Kay Q.

Santos, Zenia B.

Tamayo, Trixielou Yvonne A.

Trinidad, Justine Laurence D.

April 2019
INTRODUCTION

Financial literacy is the education and understanding of various financial areas including topics
related to managing finance and savings. It is having the set of knowledge and skills that allows an
individual to make right decisions on their financial resources. Financial literacy focuses on the ability
to manage personal financial matters in an efficient manner. (Financial Literacy –
www.investopedia.com). It is the ability to understand how money works: how someone makes,
manages and invests money. It also involves the proficiency of financial concepts such as financial
planning and profitable savings techniques. Having knowledge about this matter involves
understanding how money works and creating and achieving financial goals. The level of financial
literacy can affect your quality of life significantly. It affects your ability to provide for yourself and your
attitude towards your money. Financial literacy enables people to understand how to manage and
achieve a lifestyle that is financially balanced, sustainable, ethical and responsible. Managing your
money is a personal skill that benefits you throughout your life – and not the one that everybody
learns. (Financial Literacy – www.annuity.org).

Having knowledge on Financial Literacy can help people become self - sufficient and achieve
financial stability. Financial Literacy helps them on making good decisions by means of creating a
realistic roadmap throughout their daily lives. It also helps on enhancing money management skills.
This includes being able to save money, distinguish the difference between needs and wants and
manage their budget. (Financial Literacy – www.georgiasown.org). Knowing how to manage your
money imparts a sense of financial awareness and responsibility. Lacking of financial literacy may
lead to making poor financial choices that can have negative consequences on the financial well –
being of a person or an individual. Being financial illiterate prohibits you from being a productive
person. Financial illiterate persons are most likely not able to assess financial risks. This makes it
difficult for them to make good choices and decisions regarding on their money. (Financial Literacy –
www.herald.co.zw).

Furthermore, the goal of this research is to help the Grade 11 and 12 students of Arellano
University – Elisa Esguerra Campus on managing and saving their money by means of giving them
some ways to handle their daily allowances. The researchers are expected to provide an objective
and conclusion through a reliable data and result. This research is also conducted to provide right
information and recommendations to the Grade 11 and 12 students of Arellano University – Elisa
Esguerra Campus.

Scope and Delimitation

The study is all about the Financial Literacy of Grade 11 and 12 students of Arellano University –
Elisa Esguerra Campus.
 This research is conducted at Arellano University – Elisa Esguerra Campus. The researchers
choose this topic because it will be easier for them to get and find information regarding on their
chosen topic. The method they use on gathering data and information is by means of interview
which is a survey.

Statement of the Problem

This research aimed to determine what are the Impact of Financial Literacy to the students of
Arellano University – Elisa Esguerra Campus. The researchers sought answers to the following
research questions.

1. What are the profile of the respondents in terms of:

1.1. Name (optional)
1.2. Age
1.3. Gender
1.4. Section / Strand
2. What are the impacts of Financial Literacy to the Grade 11 and 12 students of Arellano University
– Elisa Esguerra Campus?
3. What are the factors that affects on how the Grade 11 and 12 students of Arellano University –
Elisa Esguerra Campus manage their daily allowance?
4. Why is it important for the Grade 11 and 12 students of Arellano University – Elisa Esguerra
Campus to gain knowledge about Financial Literacy?

Significance of the Study

The findings of this study will redound to the benefits of the school considering that Financial
Literacy plays an important role in the student’s everyday routine. The researchers will provide right
information and recommendation to the students of Arellano University – Elisa Esguerra Campus.
The study will encourage the students to save and manage their everyday allowance.

School’s Administration – The school’s administration is the first beneficiary of this study. It will
make them aware regarding the issue on financial literacy of the students. This research will
enlightened them about the situations of the students in concern with their everyday allowance. In
case the result shows that the students doesn’t have enough knowledge about financial literacy, then
the administration will able to analyze the situation and make good decisions about it. They might
add some lessons about financial literacy and teach it to the students.

Students of Arellano University – Elisa Esguerra Campus – The next one that will benefit the
study is the students of the school. They will be educated in regards of their situation about being
knowledgeable on financial literacy. In addition, this research will also help them to budget their
everyday allowance. The data that will be given to them will help them analyze on how to allocate
their allowance well.
Parents/Guardian of the students – Lastly, the parents or guardians of the students will also be
one of the beneficiary of this study. It will open the door for the parents of the students to be
able to know the everyday situation of their children regarding the everyday allowance they have.
This research will instruct them whether they are providing just enough money to their children or
they are giving more than enough that cause the students to spend their allowance for
unnecessary things.
METHODOLOGY

This chapter presents the methodology employed and the objectives of this study. A descriptive
method with qualitative design was selected for the present study, where the researchers decided to
study the impacts of financial literacy to the Grade 11 and 12 students of Arellano University – Elisa
Esguerra Campus and to help the students of Arellano University on managing and saving their
money by means of giving them some ways to handle their daily allowances.

This research is conducted at Arellano University – Elisa Esguerra Campus. The respondents
of the study were the Grade 11 and 12 students from different strands. The sampling technique the
researchers used is selective sampling in which they pick a total of ten students comprised the
student – respondents. The researchers used an interview which is a survey to gather the perception
of the respondents and to gather information that the researchers need.

Data and Processing

The researchers picked ten informants from different strands of Grade 11 and 12 as their
informants. They divided the team into five groups and each group will pick two students in each
strand as their informants. The researchers pick an interview questions that will use to collect the
needed data. The researchers went to the respondents’ room to personally give the questionnaires as
well as to record the informants’ answers. The gathered data was deeply analyzed by formulating and
categorizing. Once it was been analyzed, the researchers will summarize the essential information
came from the conducted interview to be able to use for the study. The researchers conduct an
individual interview with the Grade 11 and 12 students. They are the one who will conduct the
interview to keep the sensitive and confidential information that the respondents will give. During the
collection of the needed data in the study, the researchers are carefully listening and analyzing the
answers of the Grade 11 and 12 students about their idea and perception about Financial Literacy.
They transcribe the voice – recorded interview to be more clear and reliable on the respondents’
answer.

At the end, the researchers will identify what are the impacts of financial literacy to the students
of Arellano University – Elisa Esguerra Campus and to give them ways on managing and saving their
daily allowance by analyzing and summarizing all the data gathered from the ten respondents inside
the campus.
RESULTS AND DISCUSSION

The researchers present the findings of the study, their interpretations, and analysis of the
result of the study. Ten students of Grade 11 and 12 from different strands were interviewed one-on-
one by the researchers about their perception about Financial Literacy. There are two females and
eight males respondents.

The researchers found out that most of the students are receiving their allowance weekly or
monthly, students said that their allowance ranges from one hundred to two hundred fifty pesos. The
researchers found out that the usual expenses of the students are food, transportation and school
expense. About fifty to seventy pesos is the money left in their allowance. The researchers also find
out that the money left in the students’ allowance or the savings are put in their coin bank or
piggybank. The researchers knew that it is important to have at least a portion of money in their
allowance for them to pay their future expenses. Most of the respondents said that it is hard for them
to handle their money especially when they have this urge to buy a particular thing/s and when their
friends are inviting them to go out and have fun and also because of playing computer games. The
respondents give different ways in handling their allowance properly like knowing how are you going
to prioritize your needs and wants, learn to save money, keep in mind that money can’t get easily so
use it wisely and make a list of the important things that you really need.

The researchers found out that the impact of financial literacy to the students of Arellano
University- Elisa Esguerra Campus was that they can save money and they can buy what they want
without asking money from their parents. Most of the students said that the factors that affect on
managing their daily allowance are school expenses and their urge to buy their desire/wants. The
researchers discovered that financial literacy is important in order to avoid wasting money for
unnecessary things.

CONCLUSION

The following conclusions represent an attempt to better understand the perception of the Grade
11 and 12 students about Financial Literacy as well as to know the impacts of Financial Literacy to the
students of Arellano University – Elisa Esguerra Malabon. Even though half of the students have an
allowance below one hundred pesos, they still manage to have remaining amount of fifteen to seventy
pesos at least for their remaining expenses. However, some of the students are having a hard time on
managing their allowance because of their urge on buying particular thing/s. Financial Literacy helps
the students on making good decisions when it comes to handling their money and it enhance the
students’ money management skills. It also affects in their daily life expenses. Lastly, we also
conclude that Financial Literacy affects the students of Arellano University – Elisa Esguerra Campus
on their way of handling their allowance.
RECOMMENDATION

The recommendations are the outcomes of extensive interaction with the respondents and
reflections of the researchers. The recommendations are as follows:

 The researchers recommend that the Grade 11 and 12 students must learn to manage and
allocate their money properly in order for them to save at least a portion of their allowance to
be used for their other expenses and for themselves as well.
 The researchers also recommend that the students should make a list of important thing/s
that they really need to avoid being costly.
 Next is to use their allowance in appropriate thing/s.
 Last recommendation of the researchers is to be practical.