THY COVENANT MONTESSORI SCHOOL

“THE FACTORS AFFECTING THE BUDGETING SKILLS AND SPENDING BEHAVIOR AMONG
SENIOR HIGH SCHOOL STUDENTS OF THY COVENANT MONTESSORI SCHOOL IN S.Y. 2019-
2020”

A Research Paper
presented to
the Faculty of Senior High School
of
Thy Covenant Montessori School

In Partial Fulfillment
of the Requirements for the Course
Practical Research 2

ABANES, CYRIN
ACCAD, LEA MHARIE
ELANO, STAR
OBIS, DALENRY

March 10, 2020

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 APPROVAL SHEET

This undergraduate Research entitled THE FACTORS AFFECTING THE BUDGETING SKILLS AND
SPENDING BEHAVIOR AMONG SENIOR HIGH SCHOOL STUDENTS OF THY COVENANT
MONTESSORI SCHOOL IN S.Y. 2019-2020 prepared and submitted by Cyrin Abanes, Lea Mharie Accad,
Star Katherine Elano and Dalenry Obis, in partial fulfillment of the requirements for the Practical Research
2, has been examined and is recommended for acceptance and approval for oral defense.

MR. JONATHAN CARLOS

Adviser

APPROVED in partial fulfillment of the requirements in Practical Research 2 by the Oral Examination
Committee with the grade of__________.

MR. JEMIMAH REYES MR. BJARNE LEX FRANCIS AGBON

Research specialist Research specialist

MR. CRIS DEL PRADO

Chairman

ACCEPTED in partial fulfilment of the requirements for Practical Research II.

MRS. MARILYN DELOS SANTOS

SHS Coordinator

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 TABLE OF CONTENTS

TITLE PAGE …………………………………………………………………………………………….1

APPROVAL SHEET …………………………………………………………………………………….2

TABLE OF CONTENTS ………………………………………………………………………………3 - 4

ACKNOWLEDGEMENT ……………………………………………………………………………….5

ABSTRACT.……………………………………………………………................................................... 6

CHAPTER I

INTRODUCTION……………………………………………………………………………………….. 7

RESEARCH LOCALE ……………………………………………………………...................................8

CONCEPTUAL FRAMEWORK ………………………………………………………………….…..... 9

STATEMENT OF THE PROBLEM …………………………………………………………………… 10

HYPOTHESIS ………………………………………………………………………………………..….. 10

SIGNIFICANCE OF THE STUDY …………………………………………………………..………….10

SCOPE AND DELIMITATION ……………………………………………………………………...… 11

DEFINITION OF TERMS ……………………………………………………………………………… 11

CHAPTER II

REVIEW ON RELATED LITERATURE AND STUDIES ………………………………... 12

FOREIGN ………………………………………………………………………………………………… 12

LOCAL …………………………………………………………………………………………………….12

RELATED STUDIES

FOREIGN …………………………………………………………………………………..………………13

LOCAL ……………………………………………………………………………………………..……….13

RELATIONSHIP OF THE PREVIOUS STUDIES TO PRESENT STUDIES ………………….…….14

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CHAPTER III RESEARCH METHODOLOGY ……………………………………..… 15

METHOD OF RESEARCH STUDY ………………………………………………………………….…. 15

POPULATION SIZE AND SAMPLING TECHNIQUE …………………………………………….…. 15

DESCRIPTION OF THE RESPONDENTS ……………………………………………………………...15

DATA GATHERING AND PROCEDURE ………………………………………………………….……16

RESEARCH INSTRUMENT ………………………………………………………………………………16

STATISTICAL TREATMENT OF DATA ………………………………………………………….…... 16

CHAPTER IV

PROFILE OF THE RESPONDENTS ………………………………………………………………..….. 17

INDICATORS ……………………………………………………………………………………………… 18

INDICATORS ……………………………………………………………………………………………… 18

CHAPTER V

SUMMARY ………………………………………………………………………………………………… 19

HYPOTHESIS ……………………………………………………………………………………………… 19

FINDINGS ………………………………………………………………………………………………….. 20

CONCLUSION ……………………………………………………………………………..…………..…… 21

RECOMMENDATION ……………………………………………………………………..…………..….. 21

REFFERENCES ………………………………………………………………………………..…………… 20

APPENDICES ……………………………………………………………………………………….………. 21

CHI SQUARE SOLUTION ………………………………………………………………………………..24-25

CHI SQUARE SOLUTION …………………………………………………………………..………...… 25-26

CHI SQUARE SOLUTION …………………………………………………………………………...….. 26-27

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 ACKNOWLEDGEMENT
First of all, we would like to thank God for making this research possible to us to finish with all are
might. We thank him for boosting our self-confidence and guiding us for our research paper. Thank you
for the blessings you gave for making our body healthy, for us to accomplish the requirements. Thank
you for the wisdom you gave.
We would like to acknowledge our parents for supporting us financially by giving our needs such as
to print our thesis. Thank you for helping us to finish the questionnaire and for all the love. We are
proud to be your children, we love you!
For our beloved teacher, thank you for having patience, being hardworking, cooperative and most of all
being considerate teacher at all times.
To our dearest friends, thank you for your caring, intelligence, full support, and compassionate
personality because of you, it wouldn’t be possible for us to finish this research.
To the panelist, thank you for your kind consideration in giving us scores, and knowledgeable
information. It really helps a lot specially, in improving our knowledge in this kind of paper works.
This research has been the result of the researchers’ hard work with the help of the respondents in
answering the questionnaire with all honesty and effort. We tried as much as we could so that, this
research will be beneficial to the society and in the business world. We thank all of them for their
cooperation in this research.

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 ABSTRACT

The research entitled THE FACTORS AFFECTING THE BUDGETING SKILLS AND SPENDING
BEHAVIOR OF SENIIOR HIGH SCHOOL STUDENT OF THY COVENANNT MONTESSORI SCHOOL
(TCMS) S.Y 2019-2020 has the purpose to determine the factors affecting the budgeting skills and spending
behavior of the senior high school. One of the challenges that a senior high school student is the difficult to
control the way they spend. The level of the perceived problem on the budgeting skills and spending behavior is
still not absolutely figured out. This study examines the budgeting skills and spending behavior of senior high
school students aged between 15-16 years old and 18-19 years old. A survey conducted among 100 students
comprising of 43 males and 57 females belonging to the grade 11 and grade 12 students of TCMS. The study
reveals that the there is a significant relationship between the budgeting skills and spending behavior of the
students. In this study, budgeting, spending, and planning was the first examined. Spending habits were then
examined by first looking at how students used their money for meals. And seniors are the one who most likely
to have a budget than juniors, because senior students are in the unique situation because they have restricted
incomes and high expenses that's why they need to manage their money well.

Based on the gathered information, the researchers determine that it’s hard for some student to save or to
budget their money, because of their lifestyle and they have some excuses not to save money. While the study
says that we believe that our spending went in to the purchase of our daily lunch, and snacks. But the article
says, that the manners of the students on how they spend and budget their money is based on their age and
knowledge. And it is more difficult to save money for the seniors because they have priorities like school paper
works. The entire article says that students can budget or manage their money well by creating a plan, our
purchase in advance. But some article says that we need to have a strategic management, operation and tactical
management.

The gathered information shows that age has a strong influence of pending behavior. Females tend to spend
on appearance goods like clothing while males spend for electronics, entertainment and food. Females were also
found to exhibit more financial practices like keeping a written budget, planning spending and saving regularly.
We recommend students to try their best when it comes to budgeting on their money and are mindful on their
spending and they should have a goals saving in mind. As an individual, they must be the one to show initiative
in regards to this and have a willingness to learn on how to budget and spend their money wisely. Parents must
note that having learned the importance of budgeting and saving money at a young age is a factor that
determines success for the child’s future, they must teach their children to be aware on their expenses.

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 CHAPTER I

THE PROBLEM AND ITS SETTING

INTRODUCTION

Budgeting skills is simply balancing your expenses with your income, plan for managing money,
dividing up expected income and expenses among spending and saving options based on personal financial
goals during a given time period. Spending plan people make in order to make sure there is enough income to
cover all expenses. Creating this spending plan allows you to determine in advance whether you will have
enough money to do the things you need to do or would like to do. And spending is the act of giving up your
money in order to have the goods and services.

Budgeting skills and spending behavior is a broad term that has multiple meanings, depending on an
individual’s situation. It may mean learning how to create and manage a household budget, learning how to
invest money for retirement, or participating in one-on-one coaching and counseling to determine how to buy a
house or start a business. It also is part of an overall strategy to increase economic security for lower-income
families. Financial education, just like reading and writing, affects the well-being of every individual.

The importance of budgeting skills and spending behavior in the schools cannot be overstated;
students vitally need this information and they aren’t getting it in other places. Students are leaving our schools
without even the most basic of ideas about how to manage their money. Every two years, the Jump start
Coalition conducts a nationwide survey of high school students looking at what students know about issues such
as insurance, credit and debt management, and basic money management such as banking and checking. Every
year the survey has been conducted our nation’s students have scored below a 60 percent accuracy–a percentage
that would not allow a student to pass a course in most districts around the country. And it helps individuals
become self-sufficient so that they can achieve financial stability. Those who understand the subject should be
able to answer several questions about purchases, such as whether an item is required, whether it is affordable,
and whether it an asset or a liability.

Budgeting is the possession of the set of skills and knowledge that allows an individual to make
informed and effective decisions with all of their financial resources. Understanding basic financial concepts
allows people to know how to navigate in the financial system. People with appropriate budgeting can make a
better financial decision and manage money better than those without such budgeting plan. It is also the
education and understanding of various financial areas including topics related to managing personal finance,
money and investing. This topic focuses on the ability to manage personal finance matters in an efficient

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manner, and it includes the knowledge of making appropriate decisions about personal finance such as
investing, insurance, paying for college, budgeting, retirement and tax planning.

The manner in which college students manage their money is based on several factors such as age,
personality traits, and knowledge (Norvilitis, et al., 2006). Budgeting is the ability of an individual to adopt a
proactive approach towards managing his own money is known as his budgeting skills. Budgeting skills involve
conscious decision making about allocation of money such that expenditures do not exceed in the savings.
Budgeting skills serve as a great tool for planning and control since it involves planning all expenditures for
everyday living, and determining in that process whether or not the savings has enough value to do all things
that require attention. In case resources are not enough, an individual with ideal budgeting skills shall be able to
prioritize and focus the spending on things that are most important. Going to college is an important part of any
person’s life. It is probably the first time students get to experience independence. Being independent is both a
privilege and responsibility. To be responsible student isn't something that can be achieve overnight. It needs to
be put in mind and be an attitude. One of these responsibilities is managing their allowance. One of the
challenges that every student encounter is to manage the money their parents provide them. Many students are
having a hard time in terms of having to budget their allowances.

Money as one of the main necessity plays a significant role in every student to survive college. The
manner in which the students manage their money depends on their daily needs, somehow it changes due to
some factors. Students have their personal needs, and through this study we will know how and where they
generally spend their money. At present, students assume a vital part as one noteworthy part of the general
purchaser spending in the nation. Previously, books, stationaries, garments and other comparable items were
purchased by understudies for their study. In the meantime, at this present age, student’s needs have increased
because laptops are required for assignments and ventures. Propels in innovation have likewise prompted
expansion of understudy's costs. Student’s expenses are directly associated to student’s resources. Being wise in
one’s spending will lead to improved available resources and reduced financial problems during education.
Senior high school students spending, was identified as one important component of the total consumer
spending.

RESEARCH LOCALE

The research dwells on the factors affecting the budgeting skills and spending behavior among the senior high
school students of Thy Covenant Montessori School which is located in University Parkway District, 32nd
Street Corner C-5 Road, Bonifacio Global City, Taguig, and Metro Manila. The respondents are specifically
senior high school students of Thy Covenant Montessori School SY. 2019-2020. There are 100 respondent
combination of boys and girls that were chosen to take part in the survey.

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 CONCEPTUAL FRAMEWORK

INPUT
PROFILE

• Age(15-19 years old) PROCESS OUTPUT

•Gender The researchers used a

•Identified factors
printed questionnaire to
•Grade Level gather the information by affecting the budgeting
distributing the skills and spending
1.Budget questionnaires to the
behavior of the senior
respondents.
1.1 Food high school students.

1.2 Transportation

1.3 School Supplies

1.4 School Project

2.Spending

1.1 Project 1.2 Leisure

1.3 Personal needs

3.Saving

1.1 Bank

1.2 Alkansya

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 STATEMENT OF THE PROBLEM

This study entitled “The Factors affecting the budgeting Skills and Spending behavior among Senior High
School Students of Thy Covenant Montessori School in S.Y. 2019-2020”. It seeks to answer the following
questions:

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

• Age
• Gender
• Grade Level
2. Is the senior high school student has budgeting plan?
• Food
• Transportation
• School supplies
3. Is there a significant relationship between the budgeting and saving money?
4. Is there significance on how budgeting skills affect the spending behavior of a student?

HYPOTHESIS

There is no significant relationship between budgeting skills and students spending behavior.

SIGNIFICANCE OF THE STUDY

Students - They will become more knowledgeable about the budgeting of their allowance. They will also know
how to cut the impulsive way of spending their money. This study also provides financial knowledge.
Parents - They are the one who provides the allowances of the students. This research could also know where
their children spend their money. Additionally, this research would educate them on how financial literacy
works.
Future Researchers - They will know more about the topic and broaden their knowledge about this topic. They
will be more confident about the answers and have a better out comes. They can also help with the
understanding of the effectiveness of having a financial literacy.

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 SCOPE AND DELIMITATION
This study focused on the factors affecting the budgeting skills and spending behavior of senior
high school students. This study is only limited to 100 chosen students of Senior High School of Thy Covenant
Montessori School S.Y. 2019-2020. It will not involve anyone from elementary, junior high school students and
any college department of any school. A limitation of this study is the fact that the researcher will never know if
the participants in the survey have responded 100% honesty. This research could have been more if we have
access to a larger number of people. Since the sample size was fairly small the results cannot be generalized the
entire population under the study, no experiments were conducted to verify the result of the survey, and no in-
depth interviews were conducted to get more results about how participants interact with the factors affecting
the budgeting skills and spending behavior. However, the limitations in word count and time allocated for the
research didn't allow more depth about these findings.

DEFINITION OF TERMS
Investment - Setting aside money for future income, benefit, or profit to meet long-term goal; using savings to
earn a financial return.

Saving - The process of setting income aside for future spending. Saving provides ready cash for emergencies
and short-term goals, and funds for investing.

Emergency fund - is money set aside for big, unexpected expenses such as job loss or large medical bills. It
provides a financial buffer that shields against accruing unwanted debt.

Value of money -is the concept that money available now is worth more than an identical amount in the future.
This is because money that’s invested has the potential to grow, and the longer that it’s invested, the more it will
appreciate. Money that’s acquired later has less time to grow through investments, and is thus considered less
valuable.

Asset - is a resource with economic value that an individual, corporation or country owns or controls with the
expectation that will provide a future benefit.

Estimate - as it relates to the creation of financial statements, is a calculation of a financial transaction for
which no exact value is determinable, and is based upon judgment, historical understanding, and experience.

Spending limit - A better control of spending your money.

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 CHAPTER II
REVIEW OF RELATED LITERATURE AND STUDIES

RELATED LITERATURE

Foreign

This study is anchored on the Social Cognitive Theory, which proposes that people are driven not
by inner forces, but by external factors. This model suggests that human functioning can be explained by a
triadic interaction of behavior, personal and environmental factors. This theory is beneficial in analyzing and
interpreting the difference of the profile variables (sex, course, year level, socioeconomic status, and ethnicity)
of the respondents and their spending behavior.[ CITATION Alb97 \l 13321 ].

Students manage their money is based on several factors such as age, personality traits, and
knowledge (Norvilitis, 2006), students are in a unique situation because they have restricted incomes and high
expenses; therefore, they manage money differently, women were much better planners and budgeters than
males. Similarly, students became better budgeters and planners as they matured (Micomonaco, 2003).

The findings of the study show that the majority of university students do not have a written
budget. In addition, the majority of university students spend money on groceries and fast food. Female students
are more likely than male students to have a budget. Recommendations to improve the budgeting and spending
habits of university students are suggested. (Olawale fatoki, 2017)

Local

Studies have shown different factors that can affect the budgeting and spending behaviors of
students and this include demographic factors (Levenson, 2014), age sex (Villanueva, 20017).

The results show that there is a strong influence of sex in spending behavior. Females tend to
spend on appearance goods like clothing while males spend for electronics, entertainment and food. Females
were also found to exhibit more financial practices like keeping a written budget, planning spending and saving
regularly. (Villanueva, 2017).

In any economically hard-up country, like the Philippines, the average citizen is just short of
money. The cliché is no longer “More money at the end of the month” but the other way around, “More month
at the end of the money.” And it is not at all hard to understand – the Philippines would not be a poor country if

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there was enough money in people’s hands. Kara Peres, relates her own awkward money habits as a student:
Like her peers, Peres spent what little extra cash she had on experiences that made her happy. She traveled, and
went out to bars and restaurants and ran up big tabs a few nights a week. She attended trendy events. She told
herself that since she was working hard, she deserved to use her income to enjoy life. When she slashed her
expenses to just the necessities – like rent and food – she jacked up her income, as she continued to take on
part-time jobs. She stopped going out, gave up frequent traveling, and worked on saving money – she paid off
all her debts. (Kara Peres, 2017).

RELATED STUDIES
Foreign
This study is to investigate if there is a significant gender difference in the spending and
budgeting habits of university students. Based on this study, the manner in which college students manage their
money is based on several factors such as age, personality traits, and knowledge. Budgeting is a process of
creating a plan to spend your money well. It can be viewed as a strategy to manage personal finances with the
purpose of avoiding negative outcomes. While spending can be practiced on activities such as entertainment,
personal things and business operations. And according to this article, The spending behavior of university
students can be linked to the life-cycle theory of consumption by Modigliani &Blumberg, which individuals
make intelligent choices about the amount of money that they want to spend at a particular age. This is limited
only by the amount of resources that are available over their lives. (Thobejane,2008).

Budgeting and saving money is not easy for many people. Even if they are committed into a
well-laid spending plan. You need to reorganize your finances, prioritize spending, and manage debt. Thus,
allowing you to make progress toward your long-term financial goals by taking the time to create your budget.
And to build a classic budget, we need to create a budget worksheet, add up each set of figure, drill down into
your expenses, and reduce spending. (Wes moss,2019).

In this study, we need to have a strategic management, tactical management, and operational
management. Our first need is a solid strategy which is financial goal, and current situation, to do well in
tactical and operational. Which is our day to day money, and spending habits. Set goals that make sense based
on what you want out of life and what your current situation is. We need to be optimistic but also realistic.
Doing this will help you create the systems that’ll start moving you forward. (Thomas frank, 2019).

Local
Seven out of 10 Filipinos believe their spending went into the purchase of snacks, daily lunch and
coffee breaks, hang out with friends, and so on. So that, it is difficult for us to keep on budget. According to this

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study, we need to closely monitor our budget to better manage our finances through the use of electronic cards
on our transactions. (Bianca Cuaresma,2015).

This study is to determine our spending habits, sometimes we are afraid to say “no", prefer to
live by the “bahala na" lifestyle, and trying to find some excuse not to save. According to this study, it is very
essential to know on how to handle our money wisely. We need to create budget, and plan our purchase in
advance, and it will help and teach us about the important use of money. (Imee Lacuesta,2014).

Students manage their money is based on several factors such as age, personality traits, and
knowledge. One of the challenges they face is budgeting. In this study, budgeting, spending, and planning was
the first examined. Spending habits were then examined by first looking at how students used their money for
meals. And seniors are the one who most likely to have a budget than juniors, because senior students are in the
unique situation because they have restricted incomes and high expenses that's why they need to manage their
money well. (Matthew,2016).

(2000 as cited in Villanueva, 2017) results show that there is a strong influence of sex in
spending behavior. Females tend to spend on appearance goods like clothing while males spend for electronics,
entertainment and food. Females were also found to exhibit more financial practices like keeping a written
budget, planning spending and saving regularly. It was supported by De Guzman (2011) who found out that
female students of University of Sto. Thomas tend to spend huge amount of money on food and art materials
while male students have different kind of priorities. Male students also spend more on recreation and females
spent more on books and school supplies outspending males by 15% (Bailey,2009).

RELATIONSHIP OF THE PREVIOUS STUDIES TO THE PRESENT STUDIES

The article about the spending habits of the students by Imee Lacuesta, determine that it is hard
for some students to save or to budget their money because of the lifestyle they had and having some excuse not
to save. While the study by Bianca Cuaresma, says that we believe that our spending went in to the purchase of
our daily lunch, including snacks and coffee. But the article by Thobe Jane, says that the manners of the
students on how they spend and budget their money is based on their age and knowledge. And it is more
difficult to save money for the seniors because they have priorities like school paper works. All of the article
says that students can budget or manage their money well by creating a plan and plan our purchase in advance.
The one article by Thomas frank, says that we need to have a strategic management, operation and tactical
management. While our study is focused on budgeting skills and spending behaviors affecting to senior high
school students. It determined that it is hard for some students to save money on their allowance. They save
their money based on their age, personality and knowledge. And the senior high school students are the one who
most likely to save and budget their money from their allowance.

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 CHAPTER III

RESEARCH METHODOLOGY

In this chapter, research methodology includes the method, population sample size, procedure in
gathering data, research instrument, administration of the instrument and method of data analysis.

3.1 METHOD OF RESEARCH STUDY

In this study, descriptive method is used, a method in which is a fact finding study with adequate and
accurate interpretation of findings. This method will be used because it seeks to study the factors that affecting
the budgeting skills and spending behavior of the students of “Thy Covenant Montessori School” (TCMS).

According to Manuel and Mendel (1998), it involves the description, recording, analysis and
interpretation of the present nature, composition of processes of phenomena. Through the descriptive method of
research, the researcher will be able to identify and interpret what is the current situation of the students when it
comes to saving, budgeting, and spending.

3.2 POPULATION SIZE AND SAMPLING TECHNIQUE

The researcher will take the answers of the students of TCMS in University Parkway District, 32nd
Street Corner C-5 Road, Bonifacio Global City, Taguig, Metro Manila. There are approximately 100
respondents that is randomly chosen, divided into 50 grade 11 and 50 grade 12 students. The researchers use the
Stratified random sampling. It is a type of probability sampling technique, also sometimes called proportional or
quota random sampling, involves dividing your population into homogeneous subgroups and then taking a
simple random sample in each subgroup. The researcher use stratified random sampling to highlight specific
subgroups within the population. Researchers also use stratified random sampling to observe relationships
between two or more subgroups. The respondents are one hundred (100) students of TCMS. Through this, the
researchers will be able to gather data and information in order to come up with a general statement from the
respondents.

3.3 DESCRIPTION OF THE RESPONDENTS

The survey was completed by the students of Thy Covenant Montessori School (TCMS) S.Y 2019-
2020 at University Parkway District, 32nd Street Corner, C5, Taguig, Metro Manila , including 16 girls and 44
boys in 11th grade, while we have 23 girls and 27 boys in 12th grade, in the total of 100 respondents.

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3.4 DATA GATHERING AND PROCEDURE

In this study, the researchers will ask the permission of some teachers to allow the researcher to give or
distribute some survey questionnaire and let the students read and answer the papers.

3.5 RESEARCH INSTRUMENT

The instrument used was a researcher made questionnaire checklist to gather the needed data for the
student’s profile. It is used to measure the behavior and skills of the senior high school students in TCMS. This
research instrument has five choices that is composed of descriptive rating scale like, strongly agree, slightly
agree, neither agree or disagree, strongly disagree and slightly disagree. This survey can determine the different
student characteristics on how they budget or spend their money well.

3.6 STATISTICAL TREATMENT OF DATA

The gathered data were translated into frequency distribution to be easy to analyze and interpret. Such as
the percentage and ranking comparison we’ve used. The mean and standard deviation are also computed.

According to the presentation of profile, the formula for frequency and percentage distribution

F
Percentage = % × 100
N

will be used. And for the presentation of the effect, weight mean will be computed.

As the researchers, we used the chi- square for examining the relationship between categorical variable.
It is a non-parametric test that shows or performed on categorical, ordinal or nominal data.

FORMULA WE USED:

Chi square = ∑ (O-E) 2

Total of
Weighted mean = Scale x frequency
Total respondents

Percentage = f
N × 100 %

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 CHAPTER IV

PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA

This chapter presented the analysis of the data gathered from the respondents based on the given questionnaires.

This study dwells the factors affecting the budgeting and spending behavior of the senior high school students.
Also it aims to find the significance relationship of the profile of the respondents.

1. Profile of the respondents

Grade 11 and grade 12

Age Frequency Percentage
15-16 17 17%
17-19 83 83%
Total 100 respondents 100%
Table 1.5
Age of the respondents

The table and the figure shows that the majority of both Grade 11 and 12 respondents came from the age of 17-
19 years old having a 83% which is equivalent to 83 out of 100 resondents. The remaining 17% are the 17
respontends fall down to the bracket of 15-16 years old.

Gender Frequency Percentage

Male 43 43%
Female 57 57%
Total 100 respondents 100%
Table 1.2
Gender of the Respondents
The data stated in table and figure shows that most of the respondents in Grade 11 and 12 consisting 57% or 57
individuals are female and 43% are male with the number of 43.

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2. Factors affecting the budgeting skills and spending behavior

GRADE 11 AND GRADE 12

INDICATORS WEIGHTED VERBAL RANK

MEAN DESCRIPTION
1. I save money to become 3.17 Neutral 3
financially secured.
2. Save money at the bank. 2.44 Disagree 5

3. I save my money in alkansya. 3.04 Neutral 4

4. I always put a little more 3.73 Agree 1

money aside regularly in case of
emergency
5. I set a personal financial goals. 3.53 Agree 2

OVERALL WEIGHTED 3.182 Agree

MEAN
Table 1.2 SAVING

INDICATORS WEIGHTED VERBAL RANK

MEAN DESCRIPTION
6. I plan out my purchase. 3.51 Agree 2

7. I track down how much money 2.82 Neutral 3

I spend every day.
8. I write down my total 2.35 Disagree 5
allowance for the month.
9. I create a list of product with 2.49 Disagree 4
estimated value.
10. I buy the most important 3.76 Agree 1
things first.
OVERALL WEIGHTED 2.986 Agree
MEAN
Table 2.2 BUDGETING

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 INDICATORS WEIGHTED VERBAL RANK
MEAN DESCRIPTION
11. I spend money for less 3.42 Agree 4
expensive food.
12. I take control on spending. 3.61 Agree 1

13. I avoid spending triggers. 3.47 Agree 3

14. I value my money and spend it 3.40 Neutral 5

wisely.

15. I spend money in necessary 3.60 Agree 2

things.
OVERALL WEIGHTED 3.5 Neutral
MEAN
Table 2.3 SPENDING

Summary of the computation of the Chi-square Values, used to compare the opinion of the respondents in
saving, budgeting, and spending money according to categorized factors by questions.

GRADE 11 AND GRADE 12

LEVEL DEGREE
INDICATORS COMPUTED OF OF CRITICAL DECISIO SIGNIFICANC
X2 VALUE SIGNIFICANCE FREEDO VALUE N E
M
SAVING 78.63 0.05 16 26.296 Reject Significant
HO
BUDGETING 55.5 0.05 16 26.296 Reject Significant
HO
SPENDING 18.84 0.05 16 26.296 Accept No
HO Significance

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 CHAPTER V

SUMMARY, FINDINGS, CONCLUSION AND RECOMMENDATION

SUMMARY

The summary answers the following statement of the problem.

This study entitled “The Factors affecting the budgeting Skills and Spending behavior among Senior High
School Students of Thy Covenant Montessori School in S.Y. 2019-2020”. It seeks to answer the following
questions:

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

i. Age
ii. Gender
iii. Grade Level
2. Is the senior high school student has budgeting plan?
i. Food
ii. Transportation
iii. School supplies
3. Is there a significant relationship between the budgeting and saving money?
4. Is there significance on how budgeting skills affect the spending behavior of a student?

HYPOTHESIS

There is a no significant relationship between budgeting skills and students spending behavior.

FINDINGS

The researchers summarized and categorized the factors of saving, budgeting, and spending behavior of the
random students of TCMS. After analyzing the profile of the respondents, in terms of age, our respondents
grouped into two, 15-16 years old and 17-19 years old. Majority of both Grade 11 and 12 respondents came
from the age of 17-19 years old having a 83% which is equivalent to 83 out of 100 respondents the remaining
17% are the 17 respondents fall down to the bracket of 15-16 years old. In terms of gender, the respondents in
Grade 11 and 12 consists 57% or 57 female individuals and 43% are male with the number of 43. In this study,
20 ABANES | ACCAD | ELANO | OBIS | CAPERNAUM |
researchers found out that the student respondents has a neutral opinion when saving money can make you
financially secured with a weighted mean of 3.17. Respondents answers disagree in saving money in a bank
with the mean of 2.44 and others has a neutral answers in saving money in alkansya with the mean of 3.04.
They all agree in put a money aside for emergency purposes with a mean of 3.73 and set a financial goal with a
mean of 3.33. In all, the overall weighted mean for saving category is 3.182 with agree as a verbal description.
In budgeting, they agree in planning out purchase with 3.51 mean. Has a neutral answers in tracking down
money with 2.82 mean. Respondents answers disagree in both writing down your total allowance with 2.35
mean and creating a list of total estimated value with 2.49 mean. Buying important things first got 3.76 mean, in
overall weighted mean is 3.76 equivalents in agree in verbal description. In spending, respondents answers
agree in spend money for less expensive foods with 3.42 mean, take control on spending with 3.61 mean and
avoiding spending triggers with 3.47 mean. And value money and spend it wisely has a mean of 3.40 and they
agree on spending money on necessary things with 3.60 mean. In overall weighted mean got neutral with 3.5
mean. In terms of result, There is a significant relationship between factors of saving and their age and grade
level, the computed x2 value for the category of saving of grade 11 and grade 12 students is 78.63, and the
decision is to reject the null hypothesis ( HO ). The calculated value in the category of saving is higher than the
critical value of 26.962. There is a significant relationship between factors of budgeting and their age and grade
level, the computed value for the category for the budgeting of grade 11 and grade 12 students is 55.5, and the
decision is to reject the null hypothesis ( HO ). The calculated value in the category of budgeting is higher than
the critical value of 26.962. There is no significant relationship between factors of spending and their age and
grade level, the computed value for the category for the spending of grade 11 and grade 12 students is 18.84,
and the decision is to accept the null hypothesis ( HO ). The calculated value in the category of spending is lower
than the critical value of 26.962.

CONCLUSION

Based on the gathered information, the researchers determine that it’s hard for some student to save or to
budget their money, because of their lifestyle and they have some excuses not to save money. While the study
says that we believe that our spending went in to the purchase of our daily lunch, and snacks. But the article
says, that the manners of the students on how they spend and budget their money is based on their age and
knowledge. And it is more difficult to save money for the seniors because they have priorities like school paper
works. The entire article says that students can budget or manage their money well by creating a plan, our
purchase in advance. But some article says that we need to have a strategic management, operation and tactical
management.

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 The gathered information also shows that age has a strong influence of pending behavior. Females tend to
spend on appearance goods like clothing while males spend for electronics, entertainment and food. Females
were also found to exhibit more financial practices like keeping a written budget, planning spending and saving
regularly.

Budgeting and saving money is not easy for many people. Even if they are committed in to a well-laid
spending plan, you need to reorganize your finances, prioritize spending, and manage debt. thus allowing you to
make progress toward your long-term financial goals by taking the time to create your budget. Students manage
their money is based on several factors such as age, personality traits, and knowledge. One of the challenges
they face is budgeting. In this study, budgeting, spending, and planning was the first examined. Spending habits
were then examined by first looking at how students used their money for meals. And seniors are the one who
most likely to have a budget than juniors, because senior students are in the unique situation because they have
restricted incomes and high expenses that's why they need to manage their money well.

RECOMMENDATION

The researchers strongly recommend the following had been concluded, for them to be mindful in their
spending and learn the importance of it that will help them in the future.
 Students must know the importance of budgeting, how it will affect their lives and try their best when it
comes to budgeting on their money and be mindful on their spending. They must have the willingness to
learn on how to budget their money as well as saving it.
 As an individual, they must be the one to show initiative in regards to this, to exercise their budgeting
skills and spending behavior.
 The researchers suggest that students should have a goal savings in mind at the end of the week to be
able to practice their budgeting skills.
 Parents must note that having learned the importance of budgeting and saving money at a young age is a
factor that determines success for the child’s future, they must teach their children to be aware on their
expenses. An easy way for their children to learn is when they have examples.

REFFERENCES

-- https://www.researchgate.net/publication/330425997_FACTORS_AFFECTING_THE
_SAVING_BEHAVIOUR_OF_TAJ_INTERNATIONAL_COLLEGE_STUDENTS
- https://www.ukessays /marketing/factors-affecting-the-spending-behaviour-of-students-marketing-essay.php
- https:// www.questia.com/read/1P4-213736048/busgeting-and-spending-habits-of-university-students
- https://www.researchgate.net/publication/329720597 in search of Theory of Budgeting A Literature Review

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 APPENDICES

QUESTIONNAIRES

“THE FACTORS AFFECTING THE BUDGETING SKILLS AND SPENDING BEHAVIOR

AMONG SENIOR HIGH SCHOOL STUDENTS OF THY COVENANT MONTESSORI SCHOOL

IN S.Y 2019-2020”

NAME(OPTIONAL):___________________________ AGE: ( ) 15-16 ( ) 17-19

YEAR LEVEL: _________________________________ SEX: ( ) MALE ( ) FEMALE

Legend:

5 – STRONGLY AGREE 2 – SLIGHTLY DISAGREE

( lubos na sumasang-ayon) ( bahagyang di sumasang-ayon)

4 – SLIGHTLY AGREE 1 – STRONGLY DISAGREE

( bahagyang sumasang-ayon) ( lubos na di-sumasangayon)

3 – NEITHER AGREE NOR DISAGREE

SAVING 5 4 3 2 1
1. I save money to become financially secure.
2.I save money in the bank.
3.I save my money in alkansya.
4.I always put a little more money aside regularly in case of
emergency.
5.I set a personal financial goal.
BUDGETING
6. I Plan out my purchase.
7.I track down how much money I spend every day.
8.I write down my total allowance for the month.
9.I create a list of products with estimated value.
10.I buy the most important thing first.
SPENDING
11.I spend money for less expensive food.
12.I take control on spending.
13.I avoid spending triggers.
14.I value money and
15.I Spend money in necessary things

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CHI SQUARE TEST
X2 = ∑(Fe-Fo)2
Fe

GRADE 11
SAVING
X2 = ( 17-17.4)2 + ( 13-17.4)2 + ( 16-17.4)2 + ( 19-17.4)2 + ( 22-17.4)2 = 27.11
17.4 17.4 17.4 17.4 17.4

X2 = ( 10-11.2)2 + ( 6-11.2)2 + ( 17-11.2)2 + ( 13-11.2)2 + ( 10-11.2)2 =

11.2 11.2 11.2 11.2 11.2

X2 = ( 6-7.4)2 + ( 7-7.4)2 + ( 4-7.4)2 + ( 10-7.4)2 + ( 10-7.4)2 =

7.4 7.4 7.4 7.4 7.4

X2 = ( 17-7.6)2 + ( 13-7.6)2 + ( 16-7.6)2 + ( 19-7.6)2 + ( 22-7.6)2 =

7.6 7.6 7.6 7.6 7.6

X2 = ( 17-17.4)2 + ( 13-17.4)2 + ( 16-17.4)2 + ( 19-17.4)2 + ( 22-17.4)2 =

6.4 6.4 6.4 6.4 6.4

BUDGETING

X2 = ( 11-9.6)2 + ( 10-9.6)2 + ( 5-9.6)2 + ( 4-9.6)2 + ( 18-9.6)2 = 27.11

9.6 9.6 9.6 9.6 9.6

X2 = ( 16-11.6)2 + ( 12-11.6)2 + ( 8-11.6)2 + ( 11-11.6)2 + ( 12-11.6)2 =

11.6 11.6 11.6 11.6 11.6

X2 = ( 18-12.4)2 + ( 10-12.4)2 + ( 10-12.4)2 + ( 10-12.4)2 + ( 14-12.4)2 =

12.4 12.4 12.4 12.4 12.4

X2 = ( 3-8)2 + ( 8-8)2 + ( 10-8)2 + ( 14-7.6)2 + ( 5-8)2 =

8 8 8 8 8

X2 = ( 2-8.2)2 + ( 10-8.2)2 + ( 17-8.2)2 + ( 11-8.2)2 + ( 1-8.2)2 =

8.2 8.2 8.2 8.2 8.2

SPENDING
X2 = ( 17-14.2)2 + ( 15-14.2)2 + ( 11-14.2)2 + ( 14-14.2)2 + ( 14-14.2)2 = 15.744
14.2 14.2 14.2 14.2 14.2

X2 = ( 7-12.2)2 + ( 16-12.2)2 + ( 15-12.2)2 + ( 9-12.2)2 + ( 14-12.2)2 =

12.2 12.2 12.2 12.2 12.2

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X2 = ( 16-15.6)2 + ( 15-15.6)2 + ( 15-15.6)2 + ( 17-15.6)2 + ( 15-15.6)2 =
15.5 15.6 15.6 15.6 15.6

X2 = ( 8-6.4)2 + ( 4-6.4)2 + ( 9-6.4)2 + ( 7-6.4)2 + ( 4-6.4)2 =

6.4 6.4 6.4 6.4 6.4

X2 = ( 2-1.6)2 + ( 0-1.6)2 + ( 0-1.6)2 + ( 3-1.6)2 + ( 3-1.6)2 =

1.6 1.6 1.6 1.6 1.6

GRADE 12
SAVING
X2 = ( 9-9.8)2 + ( 4-9.8)2 + ( 6-9.8)2 + (15-9.8)2 + ( 15-9.8)2 = 61.064
9.8 9.8 9.8 9.8 9.8

X2 = ( 12-8.8)2 + ( 6-8.8)2 + ( 7-8.8)2 + (14 -8.8)2 + ( 5-8.8)2 =

8.8 8.8 8.8 8.8 8.8

X2 = ( 9-9)2 + ( 4-9)2 + ( 10-9)2 + ( 11-9)2 + ( 11-9)2 =

9 9 9 9 9

X2 = ( 9-8.8)2 + ( 5-8.8)2 + ( 10-8.8)2 + (8-8.8)2 + ( 12-8.8)2 =

8.8 8.8 8.8 8.8 8.8

X2 = ( 11-13.6)2 + ( 31-13.6)2 + ( 17-13.6)2 + (2 -13.6)2 + ( 7-13.6)2 =

13.6 13.6 13.6 13.6 13.6

BUDGETING

X2 = ( 10-8.2)2 + ( 5-8.2)2 + ( 4-8.2)2 + ( 5-8.2)2 + ( 17-8.2)2 = 53.14

8.2 8.2 8.2 8.2 8.2

X2 = ( 11-8.4)2 + ( 9-8.4)2 + ( 6-8.4)2 + ( 5-8.4)2 + ( 11-8.4)2 =

8.4 8.4 8.4 8.4 8.4

X2 = ( 21-12.6)2 + ( 12-12.6)2 + ( 8-12.6)2 + ( 8-12.6)2 + ( 6-12.6)2 =

12.6 12.6 12.6 12.6 12.6

X2 = ( 5-8.8)2 + ( 7-8.8)2 + ( 11-8.8)2 + ( 15-8.8)2 + ( 2-8.8)2 =

8.8 8.8 8.8 8.8 8.8

X2 = ( 3-12)2 + ( 17-12)2 + ( 21-12)2 + ( 17-12)2 + ( 3-12)2 =

12 12 12 12 12

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SPENDING

X2 = ( 11-9.8)2 + ( 9-9.8)2 + ( 10-9.8)2 + ( 9-9.8)2 + ( 10-9.8)2 = 11.412

9.8 9.8 9.8 9.8 9.8

X2 = ( 9-13)2 + ( 13-13)2 + ( 13-13)2 + ( 13-13)2 + ( 17-13)2 =

13 13 13 13 13

X2 = ( 17-16)2 + ( 17-16)2 + ( 14-16)2 + ( 16-16)2 + ( 16-16)2 =

16 16 16 16 16

X2 = ( 8-8.8)2 + ( 10-8.8)2 + ( 12-8.8)2 + ( 9-8.8)2 + ( 5-8.8)2 =

8.8 8.8 8.8 8.8 8.8

X2 = ( 5-24)2 + ( 1-24)2 + ( 1-24)2 + ( 3-24)2 + ( 2-24)2 =

24 24 24 24 24

GRADE 11 AND GRADE 12

SAVING

X2 = ( 26-27.2)2 + ( 17-27.2)2 + ( 22-27.2)2 + ( 34-27.2)2 + ( 37-27.2)2 = 78.63

27.2 27.2 27.2 27.2 27.2

X2 = ( 22-20)2 + ( 12-20)2 + ( 24-20)2 + ( 27-20)2 + ( 15-20)2 =

20 20 20 20 20

X2 = ( 15-16.4)2 + ( 11-16.4)2 + ( 14-16.4)2 + ( 21-16.4)2 + ( 21-16.4)2 =

16.4 16.4 16.4 16.4 16.4

X2 = ( 17-16.6)2 + ( 18-16.6)2 + ( 1-16.6)2 + ( 14-16.6)2 + ( 18-16.6)2 =

16.6 16.6 16.6 16.6 16.6

X2 = ( 20-19.8)2 + ( 42-19.8)2 + ( 24-19.8)2 + ( 4-199.8)2 + ( 9-19.8)2 =

19.8 19.8 19.8 19.8 19.8

BUDGETING

X2 = ( 21-17.8)2 + ( 15-17.8)2 + ( 9-17.8)2 + ( 9-17.8)2 + ( 35-17.8)2 = 55.5

17.8 17.8 17.8 17.8 17.8

X2 = ( 27-0)2 + ( 21-0)2 + ( 14-0)2 + ( 16-0)2 + ( 23-0)2 =

0 0 0 0 0

X2 = ( 39-25)2 + ( 22-25)2 + ( 18-25)2 + ( 18-25)2 + ( 28-25)2 =

25 25 25 25 25

X2 = ( 8-16.8)2 + ( 15-16.8 )2 + ( 21-16.8)2 + ( 29-16.8)2 + ( 11-16.8 )2

16.8 16.8 16.8 16.8 16.8

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X2 = ( 5-0)2 + ( 27-0)2 + ( 38-0)2 + ( 28-0)2 + ( 3-0)2 =
0 0 0 0 0

SPENDING

X2 = ( 28-24)2 + ( 24-24)2 + ( 21-24)2 + ( 23-24)2 + ( 24-24)2 = 18.48

24 24 24 24 24

X2 = ( 16-25.4)2 + ( 29-25.4)2 + ( 28-25.4)2 + ( 22-25.4)2 + ( 31-25.4)2 =

25.4 25.4 25.4 25.4 25.4

X2 = ( 33-31.6)2 + ( 32-31.6)2 + ( 29-31.6)2 + ( 33-31.6)2 + ( 31-31.6)2 =

31.6 31.6 31.6 31.6 31.6

X2 = ( 16-15.2)2 + ( 14-15.2)2 + ( 21-15.2)2 + ( 16-15.2)2 + ( 9-15.2)2 =

15.2 15.2 15,2 15.2 15.2

X2 = ( 7-4)2 + ( 1-4)2 + ( 1-4)2 + ( 6-4)2 + ( 5-4)2 =

4 4 4 4 4

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