RESULTS AND DISCUSSION

This chapter presents, analyzes results and interprets the data gathered to answer the problems of the study more
specifically on comparing the budgeting strategies of grade 11 and grade 12 Accountancy, Business and
Management students.
Budgeting strategies and budgeting awareness
With the help of the respondents, the researchers were able to come up with the sufficient data that they will
be using in order to identify the budgeting strategies, the budgeting awareness and to identify difference of the
grade 11 and grade 12 ABM students when it comes to budgeting their allowance. The table on the next page shows
the difference of the grade 11 and grade 12 ABM students in budgeting strategies and budgeting awareness.
Table 1
Common Budgeting strategies and Budgeting Awareness of the Grade 11 and Garde 12
Accountancy Business, and Management Students
Grade 11 Grade 12
Yes No Differenc Rank Yes No Differenc Rank
e e
A. Budgeting Strategies
2. Do you budget before spending your 150 34 116 5 166 68 98 6.5
money?
3. Do you set aside money regularly in case of 139 45 94 7 166 68 98 6.5
emergencies in the future?
4. Do you make a written budgeting plan? 42 142 -100 10 45 189 -144 8
5. Do you record all your expenses? 47 137 -90 9 41 193 -152 9
6. Do you keep all your receipts? 82 102 -20 8 91 143 -52 7
10. When budgeting, do you over-estimate
purchases to ensure you have enough 155 29 126 4 173 61 112 5
money?
Budgeting awareness
1. Do you think of saving? 175 9 166 1 216 18 198 2
7. As a student, do you have difficulties in
158 26 132 3 189 45 144 3
managing your finances?
8. Does budgeting serve as a practice to you 174 10 164 2 218 16 202 1
 for the future?
9. Does budgeting help you get through the
144 40 104 6 188 46 142 4
week without being financially stressed?

Generally, the results show that majority of both grade 11 and grade 12 students over-estimate
purchases as their budgeting strategies and the budgeting awareness of grade 11 students is that they think of
savings while the budgeting awareness of grade 12 is that budgeting serves as a practice to their future.
The table shows that indicator 6 has the highest rank in the first category (budgeting strategies) for both
grade 11 and grade 12 ABM students. This implies that both the grade 11 and grade 12 students over-estimate
purchases to ensure that they have enough money. On the other hand, for the second category (budgeting
awareness) the indicator 7 has the highest rank for the grade 11 students. While for the grade 12 students the
indicator 9 has the highest rank for their budgeting awareness.
Difference of the budgeting strategies of the ABM Students

The table on the next page represents the comparison of the grade 11 and grade 12 ABM students in their budgeting
strategies and their money expenditures in ranking.

Table 2.
Comparison of the Budgeting Strategies and Money Expenditures of the Grade 11 and Grade 12 Accountancy
Business and Management Students
Grade 11 Grade 12
Yes No Difference Rank Yes No Difference Rank
A. Budgeting Strategies
1. Do you think of saving? 175 9 166 1 216 18 198 2
2. Do you budget before spending your money? 150 34 116 5 166 68 98 6.5
3. Do you set aside money regularly in case of
139 45 94 7 166 68 98 6.5
emergencies in the future?
4. Do you make a written budgeting plan? 42 142 -100 10 45 189 -144 8
5. Do you record all your expenses? 47 137 -90 9 41 193 -152 9
6. Do you keep all your receipts? 82 102 -20 8 91 143 -52 7
7. As a student, do you have difficulties in managing
158 26 132 3 189 45 144 3
your finances?
8. Does budgeting serve as a practice to you for the
174 10 164 2 218 16 202 1
future?
9. Does budgeting help you get through the week 144 40 104 6 188 46 142 4
 without being financially stressed?
10. When budgeting, do you over-estimate
155 29 126 4 173 61 112 5
purchases to ensure you have enough money?
B. Money Expenditures
1. Do you spend all of your allowance? 49 135 -34 6 91 143 -52 6
2. Do you spend on things that are on trend? 34 150 -116 10 80 154 -74 7
3. Do you spend your money more on your wants
81 103 -22 5 93 141 -48 5
than your needs?
4. Have your spending habits lead you into debt? 50 134 -84 9 73 161 -88 8
5. Do you compare prices before buying something? 166 18 148 1 211 23 188 1
6. Do you think thoroughly before buying
163 21 142 3 189 45 144 3
something?
7. Do you look carefully to find the best value for
164 20 144 2 202 32 170 2
1your money?
8. Does it matter for you having all your things
51 133 -82 8 56 178 -122 10
branded?
9. Do you prefer higher end personal items that are
52 132 -80 7 67 167 -100 9
more expensive than the regular ones?
10. Do you prefer buying bestselling brands or
82 102 -20 4 119 115 4 4
products?
Generally, the results show that most of the grade 11 ABM students think of savings and the students also compare
prices before buying. While the grade 12 ABM students agreed that budgeting will help them in their future and the students
also compare prices before buying.

The table shows that the indicator 1 (budgeting strategies) and the indicator 5 (money expenditures) have the highest
rank for the grade 11 students. This implies that out of the 184 grade 11 ABM respondents, 175 respondents think of saving and
166 students compare prices before buying. For the grade 12 students, the indicator 8 (budgeting strategies) and the indicator
5 (money expenditures) have the highest rank for the grade 12 students. This implies that out of the 234 grade 12 ABM
students, 218 students serve budgeting as a practice for them in the future and 211 students compare prices before buying.

On the other hand, indicator 4 (under budgeting strategies) and 2 (under money expenditures) have the lowest rank for
the grade 11 students. This implies that out of the 184 grade 11 students, 142 respondents do not make a written budgeting
plan and 150 respondents spend their money on things that ae o trend. While the indicator 5 (under budgeting strategies) and
indicator 8 (under money expenditures) has the lowest rank for the grade 12 students. This implies that out of the 234
respondents in grade 12, 193 students do not record their expenses and 178 students do not matter to them if all of their things
are branded.

Moukendi (2019), states that financial literacy is critical for students to increase their knowledge of why and how they
can live a financially stable life while still in school. He further added that when students become aware of their finances, they
will think about successful ways to save for their future. Since, students know that budgeting can serve as a practice for them in
the future, it is a big help for students for saving early as a student will not only worry less on money but rather, they are
preparing themselves to their adult lives. As a student, this is a nice mindset since it really helps and serves as a preparation in
the future for the students. When speaking about the future, the students should also think ahead of everything before taking
an action and saving is one of the actions needed to be taken as a student. Saving as a practice may influence a lot as well so in
case of emergency, there is somewhere to get money instead of leading into debt.

The results show that writing a written budget plan and recording the expenses has a low rank in the data. According to
McWhirter (2016), determining the expenses is a valuable step to students which will help the students to have a variable
expense each month. She further added that these fixed expenses ae the transportation, books or handouts needed by the
students. Caldwell (2019), stated that it is important to track how one person spend his/her money and it will help them to
create financial awareness. She further added that if one person does not know where his/her money goes then he/she will not
know what habits to change in order to have a better savings.