Chapter 1

THE PROBLEM AND ITS SCOPE

Introduction

Money has a big impact to the everyday life of every person. It also plays a big role in
every student. It is something that is generally accepted as a medium of exchange, a measure of
value, or a means of payment (Merriam dictionary). In early age, students should know how to
manage their money. They need to have the knowledge on how to budget their money and how
they will spend it the whole school year. Every student need know the value of spending and
budgeting so that they will not depend on their parents' money in near future. Budgeting is a
making a plan on how they used to decide the amount of money that can be spent and how it will
pay for the expenses while spending is consuming money for their needs and wants especially at
school, It has many requirements that are needed to be bought to accomplish some tasks

"An allowance is not an entitlement or a salary. It is a tool for teaching children how to
manage money." (Godfrey, 2013) Usually the allowance of a student is given every Mondays for
every week; sometimes an allowance is given per month or given every day. An allowance is an
amount given for daily spenditures of teenagers at school to buy their needs and wants. Good
money management skills are the process of spending, saving and investing the cash of each
students.

Background of the study

 Going to Senior High School 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 a 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
(Kazmer, 2004) 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 budgeting their
allowances. Money as one of the main necessity plays a significant role in every student to
survive Senior High School (Babbie, 1997).

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 (Norvilitis, et al., 2006). It helps them to attain a
better understanding of financial matters that would become handful in their future. 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. The more knowledge students have about their
financial responsibility and status the less likely they are to be in debt (Norvilitis, et al., 2006).
According to study women are more likely to report having a budget than men (Norvilitis, et al.,
2006). Allowance is a necessity for every student (Micomonaco, 2003). It is a means of survival.
It can also help students be financially responsible. Being essential, it just is right to state that

students shall be able to budget their allowance appropriately. The problem is how to do
it. Doing so isn't easy since students need to manage their allowance between their needs and
wants. Also some only have a limited amount of money. Proper budgeting is important. If done
responsibly, it can give both the students' needs and wants.
 Due to factors that can affect budgeting, there exists a difference on planning a budget.
The manner in which college/senior high school students manage their money is based on several
factors such as age, personality traits, and knowledge (Gordon, 2010). This is the main focus of
the study - the personal budgeting practices of students. To assess if the students possess
financial management skill. To know how they manage their finances and the impact of the
variables to their personal budgeting practices.

Objective of the study

This study aims to know how money spending practices among Sicayab National High
School in Grade 12 students

1.How do they budget their money in terms of the following ?

1.Food

2.Transportation

3.Online Shopping

4.Load

5.School Projects

2.What are the priorities of student spending ?

3.What is the minimum amount of allowance of a Grade 12 student in Sicayab

National High School?

4.Do the students live by their own budget?

Hypothesis of the study

The researchers conducted a study about the budgeting and spending money of the Grade
12 students in Sicayab NHS, therefore they used the Descriptive Research study to describe the
behaviour of the students on their money.
Conceptual Framework

The proponents opted to use Input-Process-Output diagram. The first box shows the
inputs needed to gather data. These are the variables specific to each respondent. The second box
represents the how the data will be gathered and the tools to be used in analyzing the data. The
last box will be the result which is the main focus of this study.

PROCESS
INPUTS

Profile  SURVEY QUESTIONNAIRE

 DATA GATHERING
 AGE  ANALYTICAL PROCEDURES
 PEOPLE’S  STATISTICAL PROCEDURES
 ALLOWANCE PER
DAY
 NO.OF CLASS DAY

VARIABLES
OUTPUT
 TRANSPORTATION
 BUDGETING PROCESS OF A
 FOOD
STUDENTS Senior High
 SAVINGS
School in Sicayab NHS of
 SCHOOL PROJECT
S.Y.2022-2023
 LOAD
 To find out the possible
outcome on this topic
Significance of the Study

According to Merriam-Webster Dictionary, budgeting is an amount of money available for

spending that is based on a plan for how it will be spend and allowance is an amount of
something that is allowed o available. If we connect these two words, it would mean, spending
the available money within a plan. This research focuses on the significance of different point of
view of the users such as the students the parents, the administration, teachers or professors and
the researchers.

For the students, some of the senior high school students are free from home and mostly they
are living on a budget, others are living without worrying their allowances running out because
they have enough to survive and the worst case are those students who simply getting themselves
into a cycle of debt by each other mean. This is where the significance of allowance budgeting
practices exists, to know; means to survive within daily allowance, ways to avoid over spending
and having debt, allowance budgeting practices that they do; suit to their lifestyle and live within
their means

To the Administration, the school is the second home of the students and most of them spend
their entire day in school. Through this research, the school administration will be informed and
have idea on how they will formulate the class schedule of the students, that is one of the
significant variables given, that affects the allowance budgeting practices of the students.

To the Teachers, one of the variables given is the project that is usually given by the teachers.
This study has significance to them, to know the allowance budgeting practices of the students
regards to the projects. The sum that the students give up or practices that they set aside,
enabling them to comply.

To the Researches, we, the researcher, the study itself is significant to us, not only, it is required
for us to conduct but also it give us the awareness and a chance to inform the users of the
research, on how the variable; Transportation, Meal, Luxury, and Projects affect the students on
their allowance budgeting practices. Also, it enhances the students' awareness as to the
importance of planning a budget. They say the key is financial success is to be well aware of
how to spend your money.

SCOPE AND DELIMITATION

The research study is limited and conducted only 100 students at Sicayab National
High School Senior High School in the 1st semester of school year 2022-2023. The respondents
of the study are from the from Senior High School Grade 12 since they have the knowledge in
budgeting. Each of the respondents will be given a questionnaire to answer.

In order to assure the manageability of the collected data, the proponents will only
provide multiple questions like, checklist, ranking and rating question. This is used to assess and
estimate the amount of money of Senior High School student where and how they spend their
money and how they manage their finances.

DEFINITION OF TERMS

Allowance
Is an amount of money given or allotted usually at regular intervals for a specific purposes like
load, food, transportation and etc.
Budgeting
Is a process of creating a plan to spend your money. It is simply balancing your expenses with
your allowance.

Budgeting Practices

An behavior that we can see on the students who are started to budget.

Luxury and Leisure

Activities or hobbies students usually do after class or vacant period.

Meal

The food students eat at school.

Projects and Books

These are the school requirements the students must comply with.

Transportation

Mode of travelling from home to school.

Communication

It can use load to communicate someone in other place.

Wants and Needs

are goods or services that are not necessary but we desire or wish for (wants); defined as goods
or services that are required (needs).

Entertainment Purposes

Activity that holds the attention and interest or gives pleasure and delight.