BUDGETING OF ALLOWANCE AND FINANCIAL STABILITY AMONG GRADE 12 GAS STUDENTS

Abstract

The intrinsic motivation of this study is to prove the significant relationship between Budgeting of
Allowance and Financial Stability. The purpose of this study is to describe the two variables:
Budgeting of Allowance and Financial Stability on how they both affect each other. The
quantitative context was engaged in descriptive correlational study that make used of survey
questionnaires and random sampling technique identifying the students that served as the
respondents for this study. The researchers were able to gather data out from the respondents’
collated answers that enabled to arise the following conclusions: students spend depending on
their expenses. This can be due to the differences in their amount of allowance spend daily. Out
of the manifested conclusions were the following interventions that served as the
recommendation of this study: The students must be knowledgeable and disciplined in
budgeting their allowances. Parents should monitor and guide their students on how they should
budget heir allowance and monitor other expenses of the students that affect their allowance for
food and transportation. Teachers can also discuss some tips on proper budgeting of allowance
depending on the amount of budget. Finally, this study recommends further research about the
range of Senior High School allowance to give effective guidelines on how they will budget their
allowance properly.

Keywords: Budgeting of Allowance, Financial Stability

Introduction

Rationale

In the Philippines, respective schools filed

to offer and implement the Senior High
School
program for their students. This is a
program offers an additional two years
of High School
Education. Being a Senior high student
is not that easy because it is already a
preparatory for
every student before prior to their tertiary
education, and aside from that, this is now
where they
are going to practice on how to be a
financially responsible student. To be a
responsible student
is not something that can be achieved
within a day only, it must be taken as an
attitude and needs
to put it into their minds. One of these
responsibilities of a student is to manage
their allowances
given by their parents or guardians.
Money is the most basic requirement of
life, without which, one cannot fulfill his
basic
needs and requirements of the daily
routine. The importance of money is
increasing day by day
as the living has become so costly
(Archana 2017). Allowance refers to
the money given to
students that shall be used for their daily
needs and expenses given by their parents
or guardian
(Galulu, et al., 2017). Allowance is
money earned or given to a child at
regular intervals to teach
the child how to manage money.
(healthofchildren.com)
Statement of the Problem

This study aims to answer the following Questions:

1. What is the level of the GAS Students’ family monthly income?

2. What is the level of Frequency of GAS Students’ budgeting of allowance?

3. Is there a significant relationship between the GAS Students family monthly income and
budgeting of allowance?

Theoretical Framework
According to a theory of Personal Budgeting (Galperti 2016) almost all existing studies
informally suggests that respondents will be use personal budgets that able to manage self-
control problems, often caused by the bias, which interfere with their budgeting allowance. The
budget permeates every level of expenses that integrates the plans expenses and financial
needs. These theories states that in every expenses, they need to budge their money. They
should prioritize their needs instead of their wants. They have to acknowledge on how to proper
budgeting their allowance. It is a way of managing money in order to save more money and
makes them to have a financial stability.

Scope and Delimitation

The research study is limited and conducted only a Francisco Bustamante National High
School. The respondents of the study are the Senior High School GAS Students under 12 year
level. A questionnaire will be supplied to each respondent for them to complete. The
researchers will only offer numerous questions like these in order to ensure the validity of the
data they have collected. This is used to assess and monitor how much money does Senior
High School GAS Students in Grade 12 spend their allowances and how they arrange their
budget.

Significance of the Study

This study can likewise enable

understudies to set monetary
objectives for the future and
it can give a decent prospect on
the ways of managing money.
Also, with the help of the
researchers’ advisor, the
research can be found
essential for seminars and
programs
regarding money management.
Awareness regarding proper
financial management shall
be disseminated along with
other tips and ways on how to
simplify and normalize daily
budgeting of students’ daily
allowance.
This study can likewise enable
understudies to set monetary
objectives for the future and
it can give a decent prospect on
the ways of managing money.
Also, with the help of the
researchers’ advisor, the
research can be found
essential for seminars and
programs
regarding money management.
Awareness regarding proper
financial management shall
be disseminated along with
other tips and ways on how to
simplify and normalize daily
budgeting of students’ daily
allowance.
The study deals with the daily allowance of Grade 12 Senior High School GAS Students. It
looks for answers on where and how the respondents spend their money. Considering that
money is one of the fundamental needs of a student in order to survive, this study is significant
for it will benefit the Grade 12 Students. Their parents, the teachers and at the same time the
researchers.

Grade 12 Senior High Students-

This study is beneficial for Grade 12 Students to make them aware of their practices of
spending money and on how they budget it at the same time. It will also inform the students
where they generally spend their money with. Upon gathering this information, this study will
able to help the students to manage their allowance wisely.

Parents-

As parents have different styles of giving allowance to their children, they believed that giving
allowance to their children can teach them to be financially responsible. This research will
provide them information regarding their child’s expenses of which they can use the result of
this study to monitor on how the allowances of the children are spent.

Teachers-

This study will benefit the teachers for them to know the allowance budgeting practices of the
students regards to the requirements or projects they are giving. Also this study will inform the
teachers if the budgeted allowance of the students is enough for them to finish all the target
requirements. Moreover, this study will help to enlighten the teachers to be more considerate
towards the students’ concern and needs. Through this it can provide them a deeper
understanding to the insights of their students regarding financial budgeting.

Researchers-

This research study will be beneficial to the researchers. This study is significant to the
researchers, not only because it is a requirement but this will help them to be aware on how
important for a student to manage the allowances given. It can also inform the researchers
about the practices of budgeting allowance of each and every respondent.

Operational Definition of Terms

The following terms are used in operationally;

Budgeting- the process of calculating how much money you must earn or save during a
particular period of time and of planning how you will spend it.

Financial stability- a condition in which the financial system is not unstable.

Allowance- an amount of money given or allocated usually at regular intervals for specific
purpose.

Frequency- the rate at which something occurs or is repeated over a particular period of time or
in a given sample.

Range- the range is the difference between the maximum and the minimum value of a sample
on a given variable.

Methodology
This section describes the essential elements of the research process such as research design,
research locale, sampling design, research instruments, the data gathering procedure, statistical
tool and ethical procedure.

Research Design

A qualitative non- experimental descriptive correlational study. It included the researchers

process of the procedure and analysis of data gathered. It is used in gathering data on how
students budget their allowance and their financial stability with the use of survey questionnaire.

Research Locale

There are differences in some students’ budgets or financial planning because not all students
are in the same financial circumstances. This study mainly focuses on determining whether the
students are responsible in budgeting their allowance through these elements that affect one’s
students’ budgeting, such as their family’s monthly income, their Senior High School Strand and
their frequency of budgeting their allowance. These are used to determine if the students are
good with budgeting and to determine the weekly spending of the students.

Sampling design

A stratified random sampling procedure was used for selecting the respondents in the
study to form strata based on members’ shared attributes or characteristics (Steven Nicholas,
2019). This was used since there is a large population existing in Grade 12 Senior High School.
Proportionate stratified random sampling technique was used to select 30 students of 3 sections
from Grade 12 GAS Students.

Research Instrument

The researcher used survey questionnaires as their instrument. Surveys used to collect
quantitative data and to measure he level of students’ frequency of budgeting their allowance.
The respondents are guided by these ratings 1- very rarely, 2- Rarely, 3- frequently and 4- very
frequently. They will be provided with a checklist paper to answer and the data gathered will be
used for the development study. Instrument was pilot to 30 respondents from Grade 12 GAS
Senior High School Students.

Data Gathering Procedure

The researchers used permit to conduct the study and eventually granted by the School Division
Superintendent, a letter of request was forwarded to the principal of concerned schools for the
administration of the survey questionnaires. The survey questionnaire were handed down to the
respondents and answered it briefly.

Data Analysis
After the assessment the researchers proceed to the computation and to the interpretation of
the results. The researchers determined the descriptive statistics test for taking the conclusion
whether financial stability affect he budgeting of allowance of the grade 12 GAS students.

Mean; this is useful in determining the expenditure of Senior High School Students.

Pearson r. this is be utilized to the frequency that determines the students expenditures.

Coefficient: this was utilized to determine the significant relationship between financial stability
and the budgeting of allowance among Grade 12 GAS Students.

Regression Analysis: this was used to examine the significant relationship between the
budgeting of allowance and financial stability of Senior High School GAS Students. This chapter
provides he gathered data and the researchers’ analysis and interpretation of the result of the
distribution. In this study the level of budgeting of allowance and financial stability of Senior High
School GAS Students is Determined.

Ethical Considerations

The researchers made a letter for the respondents, the informed consent. The study was
explained before the respondents agree to answer the questionnaire. It contains an agreement
that the data gathered from the respondents will remain confidential for the protection of one's
privacy. As well as to maintain the confidentiality of respondent`s status and identity to avoid
invasion of information. The letter was formally informed and signed by the teacher and principal
to assure the safety of the participants

Results and Discussion

Conclusion

Based on the findings, the researchers concluded that for each students of GAS Strand, the level of
preference in terms of the variables differed. This means that there is significant difference on every
Students in managed their allowance and on how much a Grade 12 GAS students spends depending
on their expenses. This can be due to the differences in their amount of allowance spend daily .It is
also determined how frequently or rarely do they practice the statements under each variable in their
personal budgeting. There are only two similarities in their personal budgeting in terms of Meals and
transportation where all respondents agreed that they frequently include these variables in their
budgeting

Recommendation

In overall result of the study, the researcher would like to recommend that:
1. Each GAS students should practice more on managing their allowance and saving their
money for the most necessary things that they need. And for the students who already practiced
on saving money from their allowance should continue doing it.
2. The researcher would like to suggest that these GRADE 12 GAS Students should think first
on how they will spend their money.

3. The researchers would also like to recommend to the parents to know where their children
spend their money or allowances in order to help them manage their budget wisely.

For the last recommendation, the researchers suggest that the school especially the Senior
High students should perform more studies related to the study conducted to the student issues
in terms of budgeting and financial management

Reference