CHAPTER I

THE PROBLEM AND ITS BACKGROUND

Introduction

Money plays a very important role in everyone’s life.

People use it for something in exchange like food, water,

services and other materials that they need in their

everyday living. Without money people cannot buy what they

need and what they want, without money they cannot satisfy

themselves. According to Ayn Rand, money is the source of

survival.

Our government implemented the Tax Reform Acceleration

and Inclusion (TRAIN) Law which means that people who earned

21,000 pesos monthly and below are exempted from paying

personal income tax (PIT), but along with this law is the

higher inflation rate that caused a big trouble and change

in the prices of the needed goods and services. Since then,

Filipinos are trying their best to adjust their budget to

buy what they really need to spend their money wisely.

In this case, the time value of money (TVM) is

necessary. It means that what money you have now may double

after how many years due to its potential earning capacity

(Chen, 2019). Everyone should be very wise in their spending

activities, sometimes they also need to think for their

future so they must invest something to prepare for it.

Money is all-important to continue living in this

materialistic world. Only wise person spend their money

responsibly.

According to a research of Westwood College in United

States (2009), most of the seniors and college students

spend the least of their allowance in transportation, books

and supplies but spends 40 percent on discretionary

activities- entertainment, apparel and services, travel and

vacation.

Since, Senior High School (SHS) is like taking up your

course in college, every strand has their different

expenses. At this young age students still lack experience,

it might be hard for them to spend their money wisely

because they do not know how to budget their allowance on

their own and they do not even know the value of it. As the

time passes by there will be changes until they reach the

time that they were the ones who will be earning money for

themselves, thus, spending would be too hard for them

because as they grow up as an individual their perception

about money will change. They will be one of the wisest

people who spend their money wisely and responsibly.

9
 Budgeting is the key. It helps you reach your goals. It

helps you to prioritize your spending, with a budget you can

move focus your money on the things that are most important

to you (Caldwell, 2019). Following your budget or spending

plan will also keep you out of debt or help you work your

way out of debt (my MoneyCoach, 2019).

This study will be conducted because the researchers

want to know if there is a significant difference between

the spending behaviors of the different strands. The

researchers also want to know how the students allocate

their money for their expenses.

Therefore, this study aims to know how SHS students

spend their allowance daily and how they manage or budget

their own allowance. The researchers decided to conduct a

survey to the SHS students of the Our Lady of the Pillar

College- San Manuel Incorporated.

Conceptual Framework

10
 This study supporting the idea that transportation,

school projects, school fees, and entertainment are factors

affecting the students spending behavior. This study is to

help the students monitor their expenses and for them to

make a strategy in spending their money.

The input presents the profile of the SHS students,

especially the strand, gender, monthly income of parents,

and the monthly allowance of the respondents. It also

includes the Data Privacy Act of 2012.

The process covers the collecting of information among

SHS students about their allowance and daily expenses

through the given questionnaires.

The output of the study covers the proposed budget plan

for the students to help them monitor their daily or monthly

spending. The research paradigm that will guide the study is

shown.

Input Process Output

11
Profiles of Senior  Surveillance to Spending
High School SHS students behavior Among
students according about their Senior High
to: allowance and School of Our
how they spend Lady of Pillar
 Strand it College- San
 Sex  Assessment in Manuel
 Monthly the extent of
Incorporated
income of spending of
parents Senior high
 Monthly School Students
allowance  Questionnaire Budgeting plan

Data Privacy Act

of 2012

Feedback
Figure 1: Paradigm of the Study

12
Statement of the Problem

This study aims to seek the answers of the following

questions:

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

following?

a) Strand

b) Sex

c) Monthly income of parents

d) Monthly allowance

2. What are the expenditures of the Senior High School

students of the Our Lady of the Pillar- San Manuel

Incorporated?

3. Is there a difference on the spending behaviors of the

respondents in terms of the following?

a) Strand

b) Sex

4. What budget plan can be formulated based on the

spending behavior of Senior High School?

Significance of the study

Nowadays, the value of money is getting lower not

unlike the past generation. There are many factors affecting

the spending behavior of students some of them are the

school projects, transportation fees, school fees and even

13
the money they use for entertainment or leisure activities.

This study deals with the daily allowance of Senior High

School student of Our Lady of the Pillar College- San Manuel

Incorporated.

Considering that money is the one of the important

things to run our life, this study is significant for it

will benefit the students, parents and even the teachers.

Students. This study will inform students on what and

where they can primarily spend their “baon” or allowance.

Upon this information, it will help them have the knowledge

and a better understanding on how they will spend their

money wisely

Parents. This study is significant to the parents for

this will give enough information for them to understand

where their children spend their money because they were the

ones who are responsible on the monetary issues of their

children.

Teacher. This study will give information and deeper

understanding on how the requirements affects the senior

high school students spend their money. This can help them

to be more considerate in their students’ needs.

Researchers. This research will lead the researchers to

the answers they try to seek while conducting the research.

14
 Future Researchers. This research is significant to the

future researchers for they can use it as their guide in

conducting related researches.

Scope and Delimitation

The focus of this study is to determine and evaluate

the amount of money or the allowance the students get from

their parents, where they spend their money on and how they

manage it.

This research was limited and conducted only at the Our

Lady of the Pillar College-San Manuel Incorporated school

year 2019-2020. The respondents of the study are the 60

Senior High students. The method of the researchers will use

the descriptive type and will use the survey forms in

collecting information.

Definition of Terms

The following terms are given for the better

understanding of this paper and are operationally and

conceptually defined:

Allowance. This is the amount of money given to the

students by their parents for their expenses.

15
 Budget planning. It is the process by which an

individual evaluates her earning and expenses and project

his/her monetary intakes and outtakes for the future.

Data Privacy Act of 2012. This is to protect the

fundamental human right of privacy of communication while

insuring free flow of information to promote innovation and

growth. This is to protect the personal information of the

respondent.

Expenditure. This is the action of spending money for

something in exchange

Inflation rate. This is the rate of increasing of

prices of goods and decreasing in the purchasing power of

money

Monthly Income. It is the amount of money or income a

person earns in a month after taxes or deductions are taken

out.

Spending. This is the act of using money for something

in exchange

Spending Behavior. It is a behavior offering the way a

person use their money in order to satisfy their wants and

needs (Norvilitis, 2006)

Time Value of Money (TVM). It is the concept that

money available at the present time is worth more than the

16
identical sum in the future due to its potential earning

capacity.

Train law. It is the law that exempts employees who has

salary of 20,000 and below monthly to pay tax payment

17
 Chapter 2

REVIEW OF THE RELATED LITERATURE AND STUDIES

This chapter includes discussion on related foreign and

local literature and studies reviewed by the researchers

which provides relevant facts about the Spending behavior of

consumers.

FOREIGN AND LOCAL LITERATURE REVIEW

Factors Affecting the Spending Behavior of Consumer

There are many factors that influence a consumer in

his decision making process, shopping habits, purchasing

behavior, the brands he buys or the retailer he goes. A

consumer is led by his culture, his subculture, his social

class, his groups, his family, his personality, his

psychological factors, and is being influenced by cultural

trends, as well social and societal environment. And

initially a consumer tries to find what commodities he would

like to consume his money, and then select later only those

commodities that offer greater utility. Lastly, the consumer

analyzes the price of commodities and takes the decision on

which he should spend his money. (Ramya & Ali, 2016)

a. Personality and states

18
 Financial psychology focuses on what people buy but

rather on the beliefs, emotions, and behaviors that explain

“why”. Personalities do affect spending, like the attitude

of a person and relationship with money. A healthy attitude

of a person knows how to prioritize, have self-confidence

and at the same time knows how to say “no”. While a bad

state of attitude such as anger, depression or frustration

can cause emotional spending and can be the root cause of

devastating financial effects. (Lohrey, 2009)

As consumers, people tend to buy not only the things

that they need but those products that they see being fit

with their own self-concept. In other words, people

generally want their products to match with who they think

they are. (Middlebrook, 2016)

b. Culture and subculture

Consumers’ everyday decisions including the buying

decision are deeply influenced by culture (Pratap, 2017).

Culture exerts different level of influence on each member.

Young people may not adopt cultural practices that adults

are commonly doing; they may develop practices that are

unique and new to their own subculture. This can involve

everything from buying trends to new product use trends. As

people relocate and culture comes in a new way, the

19
intensity of culturally determined consumer behavior changes

even more. (Hartman, 2017)

c. Peer group and Family

A person’s kind of selection is based on different

consideration and many of them are influenced by his or her

family. Whether it is a tie’s color or favorite perfume,

family and friends are bound to have limited but certain

influence in someone’s life. This influenced lasts and

remains throughout the life of a person from being a kid

until he became a grandparent. From the time others make

purchase for someone who is self-dependent and start making

decisions, family role is significant. (Pratap, 2017)

When it comes to motivating behavior change, there is

nothing more powerful than the recommendations of your

peers. This applies to everything from musical tastes of

teenagers to brand selections among consumers in India.

(Purcell, 2014)

d. Psychological factors

Consumer behavior is a psychological process and the

psychology of buying behavior that is deeply related to the

emotion of a consumer goes through. A consumer will

recognize that he is in need of the product and afterwards

will buy the product to fulfill his needs. Psychological

factors makes a consumer know where is the best place to buy

20
the product, the best time to buy the product, and how much

it costs. (La Marco, 2018)

According to Danes, Huddleston, and Boyce (1999) as

cited by Opoku (2015), SHS and College students in recent

times have easy access to funds but on the contrary have

shown to have inadequate financial literacy and as a result

have become impulsive buyers.

Expenses

According to Canlas (2014), in the computation of

philSTAR.com, parents could spend anywhere between ₱25,000

and ₱30,000 for the allowance of their child. College

students typically get 150 pesos to 250 pesos (excluding

transport allowance) per day. Students from exclusive

schools like Ateneo de Manila and De La Salle University

receive where surrounding places to eat tend to be more

expensive receive higher allowance. The allowance covers ₱50

to ₱100 for lunch, ₱30 to ₱50 for snack, ₱20 on average for

photocopies, and ₱50 to ₱80 for school requirements like

printing, buying pens, etc.

According to Security Bank Team (2017), millennial

boosts the “experience economy.” Millennial most spend on

real-life experiences that allow them to bond with their

family and friends. A study by Harris Group found that 72

21
percent of millennial prefer to spend more money on

experiences than on material things.

Sex and Age Differences

According to Blake (2018), men are more influenced to

make a purchasing decision when choosing restaurants, cafes

and bars (61%), festivals and events (55%), and travel

destinations (35%). Women, on the other hand, are more

likely to be influenced to purchase fashion and beauty items

(71%), followed by restaurants cafes and bars (66%) and

festivals and events (57%), while 32 percent of students

admitted a level of remorse, despite 72 percent always

considering what they can afford before spending their

money.

Although most Filipino kids save part of their pocket

money, they do it to buy items they and not to prepare for

the future. For every 10 Filipino children, seven of them

spend a part of their allowance given by their parents while

setting aside funds to buy the latest gadgets, clothes or

toys. Pru Life UK has expanded the “Cha-Ching Money Smart

Kids” in collaboration with Cartoon Network and recently

launched its second season in the Philippines, aimed

introducing financial concepts such as budgeting, credit,

and investing. Tiongco said that at the young age when money

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comes in many forms and be used in different ways, it is

important to make children understand at an early age the

value of using money wisely. (Patria, 2012)

According to a new report from Charles Schwab that is

cited by Elkins (2017), millennial spend more than other

generations on comforts and conveniences like taxis, pricey

coffee and dining out. Sixty percent of millennial admit to

spending more than $4 on coffee, 79 percent will splurge to

eat at the hot restaurant in town and 69 percent buy clothes

they don’t necessarily need. Despite of their more liberal

spending habits, millennial are more planning-oriented than

their parents and grandparents. Schwab also repot that more

than a third of millennial (34%) say they have a written

financial plan compared to far fewer Generation X (21%) and

boomers (18%).

Sex differences indicate that females are economically

less active and more economically conservative as compared

to males. (Furnham, 1999)

Social and Technological

According to Valdez (2018), Filipino consumers are

becoming more aware of how their purchasing power can

influence companies and promote products and ways of doing

business that they support, a media communications company

said, citing the results of a study. The shift comes in the

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context of a boarder movement from being a passive consumer

to a so-called prosumer, one who also serves as an advocate

for products or ways of doing business. In a briefing in

Makati City, the company’s head of data analytics Philip V.

Tiongson said, “This means there is going to be a shift

which will see us moving from mindless consumption into what

we can only call meaningful consumption.” He also added that

technological changes over the past 15 years which allowed

the people to find their voice through social media and the

Internet.

As stated in the latest UniBank Social Spending Report

social media has a significant impact on the spending habits

of university students. Digital platforms influence the

spending of 88% of students. Almost half (43%) of students

surveyed noted that the seamless, in-platform shopping

experience of Instagram and Facebook are major trigger for

how much they spend through social media, with over a third

(39%) citing FOMO (fear of missing out) and peer pressure as

a driving factors. (Blake, 2018)

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FOREIGN AND LOCAL RELATED STUDIES

Women vs. Men

Vijaya Lakshmi, Aparanjini Niharika, and Lahari (2017),

conclude in their study that gender plays a very crucial

role in purchase decisions. Women are more internally

focused whereas men ought to be externally focused. It has

been suggested that male and female consumers demonstrate

considerably different approaches in their decision making

and purchasing behavior when shopping.

According to Hayhoe, et al., (2005), their study among

college students’ effective credit attitude and gender

influenced college students’ credit purchasing. Gender was

more influential in predicting financial management

practices than was affective credit attitude, with female

students employing a greater number of financial practices.

Females purchased clothing; males purchase electronics,

entertainment, travel, gasoline, and food away from home.

Part-time Jobs or Employment

According to Messinger (2018), the best way for

students to be responsible for their spending money is

employment. Students can work during summer and holiday

breaks. A typical college semester lasts for 15 weeks. A

student planning on spending $50 per week will need to save

25
$750 to cover those weeks. The parents were to decide if

they would give or provide allowance for their child or not.

Expenditures

According to the study of Bona (2017), after studying

the data, most of the respondents from Surigao del Sur and

Saint Michael College spent more money on their projects and

assignments, tuition fees and school supplies, and room and

board, and spent less on their clothing and accessories.

According to the result of the study of Jin Jin (2017),

there are four major findings. The first finding is that

college students mostly like to spend their money on food

because they are students and they need a lot of foods to

survive in their life. The second finding is majority of the

female respondents most likely to spend money on shopping

because shopping is a woman thing, they love to explore

things and even shopping comes to their rescue at this time

when they feel sad or unhappy. On the other hand, majority

of the male respondents mostly like to spend on

entertainment compared to other activities because male most

likely to play game and half of them who play video,

computer or online games, they feel that it keeps them from

studying “some” or a “lot.” The third finding is majority of

the respondents get the source income from the family income

26
because the college students like to spend money on some

expenses. The last finding the financial planning is an

important ways to improve the financial management because

it plays an important role in determining the college

students how to spend their money wisely.

According to the study of Bona (2017) that is conducted

in college students of Surigao del Sur State University

(SDSSU) and Saint Michael College (SMC) in Cantilan, the

northernmost municipality in the province of Surigao del Sur

it is revealed that there are no significant differences on

the extent of spending as to room and board, transportation,

projects and assignments, tuition fees and school supplies,

laptops and other gadgets between the two schools. Most of

the respondents spent more money on their projects and

assignments, tuition fees and school supplies, and room and

board. This is due to increasing price of materials to be

used in doing their projects and assignments. Moreover, the

growing rate of tuition fees, room and board.

Upsi (2014), found out that students of Sultan Idris

Education University has 16 expenditure types but the 5 most

incurred expenses are food and beverages, study materials

(including stationeries), clothing, personal

hygiene(toiletries), and telecommunication expenses. It was

also found out that out of ten predictor variables, five can

27
be predicted as affecting students’ spending behavior namely

faculty, semester, gender, residency, and household income.

Social media in Purchasing Behavior of Consumers

Social media works well with groups especially with

millennials. The Deloitte report found that 47% of

millennials are influenced in their purchases by social

media, compared to 19% for all other age group. In the

report it is also noted that consumer who uses social media

during their shopping process are four times more likely to

spend more on purchases than those who do not. The report

also state that shoppers are 29% more likely to make a

purchase the same day when using social media to help shop

before or during a trip to the store. Deloitte report

provided some insight on which product works best in social

media. According to their data, 56% of consumers buying baby

products, compared to 40% home furnishings, 33% for health

and wellness and 32% for automotive.

Purchasing According to Age

According to Richards et al., (2011), women were much

better planners and budgeters than males. There were also

significant differences according to age. Freshmen were much

more likely to spend all their money quickly than juniors

28
and seniors. This could be due to lack of awareness of their

budget, or not planning appropriately. Similarly, students

became better budgeters and planners as they matured.

Money and Happiness

Most spending choices can be categorized as either

material or experiential purchase. Material purchases are

those made with “the primary intention of acquiring a

material possession-a tangible object that you can obtain

and keep in your possession,” such as a new laptop, vase, or

bracelet (Van Boven and Gilovich, 2003, p.1194). In

contrast, experiential purchases are those made with “the

primary intention of acquiring a life experience-an event or

series of events that you personally encounter or live

through,” such as trip to New York City, a whale watching

cruise, or night outs (Van Boven and Gilovich, 2003,

p.1194). Applying this distinction, one of the most robust

findings to emerge over the past decade and half on the

science of spending is that experiential purchases lead to

greater satisfaction and enjoyment than do material

purchases (see Gilovich, Kumar, and Jampol, 2015, for

review). (Aknin, Hannibal, and Wiwad, 2018)

Financial Knowledge

Peng et al., 2007 conducted study to analyze the impact

of financial education on the financial knowledge and saving

29
rates of the high school and college. The study is conducted

through online survey measuring past and current financial

experiences, demographic characteristics, income and

savings. The results suggest that personal financial course

improves financial literacy. The study highlights the

importance of finance courses todevelop saving habits at the

college level.

Chapter 3

METHODS AND PROCEDURES

This chapter presents the research design, participants

of the study, instruments use in gathering the data, data

gathering procedure, and data analysis tools that were used

in this research study. This serves as a basis for the

30
validation to the methods and analysis of data deployed by

the researchers.

Research Design

In order to gather the necessary data the researchers

used the descriptive method.

The researchers designed a survey questionnaire aimed

to know the spending behavior of SHS students of the Our

Lady of the Pillar College-San Manuel Incorporated for the

school year 2019-2020. It was designed to know how much

allowance the participants have in general, how they budget

and where they spend it too.

Participants of the Study

In this research, the participants are the 60 students

(20 from Accountancy and Business Management, 20 from

Science, Technology, Engineering and Mathematics and another

20 from Humanity and Social Sciences) of Senior High School

of the Our Lady of the Pillar College-San Manuel

Incorporated school year 2019-2020.

Data Gathering Instrument

Assessment tool. The researchers adopted a survey-

questionnaire that they used to gather data or information

and be filled up by the respondents. The questionnaire used

31
is adapted from the study of Adrian Furnham entitled “The

saving and spending habits of young people” (1999) and

questionnaire from Mazen Alqadi entitled “Spending Habits

among Malaysian Students.”

Data Gathering Procedure

First, the researchers prepared the data gathering

tool. After the preparation, they asked for the permission

of the head of the school or the principal to allow them in

conducting their research. After that, the researcher

distributed their survey-questionnaire to the participants

or respondents. After the questionnaires were filled up,

they were collected for checking and validation of data and

to ensure that the data gathered from the respondents will

stay at its highest confidentiality. The researcher used

Microsoft Office Excel to tabulate and tally the scores.

After everything has done, the results were analyzed and

interpreted according to the purpose of the study.

Data Analysis

The following tools were used for the interpretation and

data analysis:

1. Frequency Count and Percentage Distribution. This was

used to analyze all the data gathered from the

32
 respondents such as sex, year, strand, monthly income

of parents and monthly allowance.

Formula:

f
%= x 100
N

%= percentage

f= frequency count

N= total no. of cases

2. Weighted Mean. This was used to compute the average

values of the observation.

x́ =
∑ W n Fn
N

x́= weighted mean

ΣWnFn= total mean and frequency count

N= total number of respondents

3. Likert Scale. This scale was used to analyze the data

gathered about the behavior of the respondents toward

spending their monthly allowance habits and expenses of

Senior High School Students.

Scale Weighted Mean Descriptive Rating

1 1.00-1.74 Strongly Disagree

33
 2 1.75-2.49 Disagree

3 2.50-3.24 Agree

4 3.25-4.00 Strongly Agree

CHAPTER IV

PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA

This chapter includes the presentation, analysis and

interpretation of the data gathered by the researchers from

their respective respondents. This chapter provides the

final tally of results of the survey the researchers have

conducted. These data are gathered from equal number of

34
respondents per strand (STEM, ABM, HUMSS) and sex

(male/female) for the respondents to avoid biased answers

from the respondents.

Table 1: Profile of the Respondents According to Strand

Strand No. of Respondents Percentage

ABM 20 33.33%
STEM 20 33.33%
HUMSS 20 33.33&

TOTAL 60 100%

Table 1 shows the profile of the respondents according

to their strand. This information was taken to know which

strand spends more or less. The researchers decided to float

on equal number of respondents from each strand to get more

appropriate answers that can help for having reliable

conclusion.

Table 2: Profile of the Students According to their Gender

Sex No. of Respondents Percentage

Female 30 50%
Male 30 50%
Total 60 100%

Table 2 presents the profile of the respondents

according to their gender. This was gathered to know if

35
there are differences between the way female and male spend

their monthly allowance and their behavior towards spending.

Table 3: Profile of the Respondents According to their

Parents Monthly Income

Monthly Income of No. of Respondents Percentage

Parents
10000-29000 32 53.3%
30000-49000 17 28.3%
50000-69000 4 6.7%
70000-above 7 11.7%
Total 60 100

This table shows the monthly earnings of the parents of

the respondents. Most of the respondents have parents who

earn ₱10,000 up to ₱ 29,000 income monthly. This table was

used to know if the income of parents can affect the

spending and saving behavior of the students.

36
 Table 4: Profile of the Respondents According to their
Monthly Allowance

Monthly Allowance No. of Respondents Percentage

2000-2500 32 53.3
2501-3000 16 26.7
3001-3500 12 20
60 100

Table 4 shows the monthly allowance of the students.

There are 32 (53.3%) students who were given a monthly

allowance ranging from ₱ 2,000-2,500, while 16 of them have

monthly allowance ranging from ₱2,501-₱3,000, and the

remaining 12 have monthly allowance ranging from ₱3,001-

₱3,500. This data was collected from the respondents for the

researchers to know how much money they can allot for their

monthly spending.

Table 5: Monthly Spending of the Respondents according to

their Strand

ABM
A. DAILY EXPENSES
₱50-₱299 ₱300-₱549 ₱550-₱799 ₱800-above
1. Study materials( such as
stationeries, lectures, 16 2 1 1
and printings)
2. Food and beverages 6 5 2 7
3. Daily needs ( such as 11 5 2 2
transportation)
4. Beauty products 11 6 2 1
B. PERIODIC EXPENSES
1. Books 7 10 1 2
2. Clothing and 7 7 1 5
accessories
3. Entertainment and 5 7 5 3
leisure
4. Savings 6 7 4 3
A. DAILY EXPENSES STEM

37
 ₱50-₱299 ₱300-₱549 ₱550-₱799 ₱800-above
1. Study materials( such 13 7 0 0
as stationeries,
lectures, and
printings)
2. Food and beverages 8 7 3 2
3. Daily needs ( such as 11 7 2 0
transportation)
4. Beauty products 12 5 2 1
B. PERIODIC EXPENSE
1. Books 5 9 1 5
2. Clothing and accessories 3 6 6 5
3. Entertainment and leisure 8 8 1 3
4. Savings 12 1 4 3

HUMSS
C. DAILY EXPENSES
₱50-₱299 ₱300-₱549 ₱550-₱799 ₱800-above
1. Study materials( such as 12 4 4 0
stationeries, lectures,
and printings)
2. Food and beverages 2 5 4 9
3. Daily needs ( such as 7 5 4 4
transportation)
4. Beauty products 10 6 2 2
5. PERIODIC EXPENSE
1. Books 14 2 1 3
2. Clothing and accessories 1 11 3 5
3. Entertainment and leisure 8 5 6 1
4. Savings 6 5 4 5
A. DAILY EXPENSES ABM STEM HUMSS
1. Study materials( such as
stationeries, lectures, ₱50-₱299 ₱50-₱299 ₱50-₱299
and printings)
2. Food and beverages ₱800-above ₱300-₱549 ₱800-above
3. Daily needs ( such as
transportation) ₱50-₱299 ₱50-₱299 ₱50-₱299

4. Beauty products ₱50-₱299 ₱50-₱299 ₱50-₱299

B. PERIODIC EXPENSES
1. Books ₱300-₱549 ₱300-₱549 ₱50-₱299
2. Clothing and
₱300-₱549 ₱300-₱549 ₱300-₱549
accessories
3. Entertainment and
₱300-₱549 ₱300-₱549 ₱50-₱299
leisure
4. Savings ₱300-₱549 ₱50-₱299 ₱50-₱299

38
 The table 5 shows the monthly spending of the

respondents from the different strands. Comparing all the

results of the answers of the respondents from the strand of

ABM and STEM, they were almost the same. From the ABM

strand, the results state that they allot more money in food

and beverages; and spend less on study materials, daily

needs and beauty products. The result from the data gathered

from the STEM strand shows that they spend more food and

beverages; clothing and accessories as well as on

entertainment and leisure. While, the result from the Strand

of HUMSS shows that the respondents spend more on their food

and beverages. Comparing all the results the HUMSS strand

spends less than STEM and ABM, but comparing the allotted

money for the savings it shows that ABM strand students

allot more on their savings than the other strands.

Table 6: Monthly Spending of the Respondents According to

Sex

Female
A. DAILY EXPENSES ₱50-₱299 ₱800-
₱300-₱549 ₱550-₱799
above
1. Study materials( such as 22 4 3 1
stationeries, lectures, and
printings)
2. Food and beverages 11 4 4 11
3. Daily needs ( such as 18 6 2 2
transportation)
4. Beauty products 14 11 3 2
B. PERIODIC EXPENSE
1. Books 12 11 2 5
2. Clothing and accessories 5 14 2 9
3. Entertainment and 13 6 8 3

39
 leisure
4. Savings 12 9 6 3
Male
A. DAILY EXPENSES ₱50-₱299 ₱800-
₱300-₱549 ₱550-₱799
above
1. Study materials( such as 19 9 2 0
stationeries, lectures, and
printings)
2. Food and beverages 5 13 5 7
3. Daily needs ( such as 11 11 6 2
transportation)
4. Beauty products 19 6 3 2
B. PERIODIC EXPENSE
1. Books 14 10 1 5
2. Clothing and accessories 6 10 8 6
3. Entertainment and leisure 8 14 4 4
4. Savings 12 4 6 8
SEX
A. DAILY EXPENSES
Female Male
1. Study materials( such as ₱50-₱299 ₱50-₱299
stationeries, lectures, and
printings)
2. Food and beverages ₱800-above ₱300-₱549
3. Daily needs ( such as transportation) ₱50-₱299 ₱300-₱549
4. Beauty products ₱50-₱299 ₱50-₱299
B. PERIODIC EXPENSE
1. Books ₱50-₱299 ₱50-₱299
2. Clothing and accessories ₱300-₱549 ₱300-₱549
3. Entertainment and leisure ₱50-₱299 ₱300-₱549
4. Savings ₱50-₱299 ₱50-₱299

The table 6 shows the comparison of the monthly

spending behavior of the respondents based on their gender.

Based on the results, female spend more than men when it

comes to food wherein they spend ₱800-above of their

allowance while men spend ₱300-₱549 from their allowance.

The result is contrast to the research of GrubHub Inc.

(2014), where women spend three percent more when it comes

to food, on average, per order than men. Comparing all their

40
answers, men seem to spend more of their allowance than

women does.

41
Table 7: Respondents’ behavior in Saving and Spending their Allowance (By Strands)

ABM STEM HUMSS

B. Students’ Ways of Saving Descriptive Descriptive Descriptive
µ µ µ
Rating Rating Rating
1. It is important to save 3.15 Agree 2.95 Agree 3.25 Strongly
Agree
2. I tend to spend money as soon as I get it 2.50 Agree 2.30 Disagree 2.15 Disagree
3. I believe in putting some money aside for a rainy day 3.15 Agree 2.30 Disagree 2.65 Agree
4. When I save, it is usually because I want something special. 2.70 Agree 2.65 Agree 3.05 Agree
5. I am interested in looking at different ways of saving money 2.00 Disagree 2.45 Disagree 2.60 Agree
6. I have always tried to save 2.95 Agree 2.75 Agree 3.25 Strongly
Agree
7. Money is for spending not for holding on to 2.90 Agree 2.75 Agree 2.70 Agree
8. Every once in a while I like to go on a big spending spree 2.50 Agree 2.20 Disagree 2.35 Disagree
9. I never pay for something if I can get credit 2.60 Agree 2.45 Disagree 1.55 Strongly
Disagree
10. I don’t like owing money 2.85 Agree 2.50 Agree 2.40 Disagree
11. Having a lot of money has never been my aim in life 2.60 Agree 2.75 Agree 2.65 Agree
12. Price comparison 2.60 Agree 2.15 Disagree 2.50 Agree
13. I would not be without a credit card 2.45 Disagree 2.20 Disagree 1.90 Disagree
14. Everybody should have a bank account. 3.05 Agree 2.50 Agree 2.50 Agree
15. Modern people use checks (cheque) and cards not cash 2.10 Disagree 2.65 Agree 2.45 Disagree
16. I record my expenses 2.80 Agree 2.70 Agree 2.20 Disagree
17. You can’t get far without a bank account 2.80 Agree 2.75 Agree 2.45 Disagree
18. I never seem to have enough money 2.80 Agree 2.65 Agree 2.25 Disagree
19. I kept all the receipts and bills whenever I pay for my 2.65 Agree 2.70 Agree 2.45 Disagree
things.
20. I love shopping. 2.70 Agree 2.30 Disagree 2.30 Disagree
21. The lower price products are usually my choice. 3.05 Agree 2.70 Agree 2.90 Agree
22. I compare prices between shops before buying a product 2.70 Agree 2.65 Agree 3.15 Agree
23. I prefer to buy known national brands 2.60 Agree 2.45 Disagree 2.20 Disagree
24. I postpone my shopping until during sales period 2.65 Agree 2.65 Agree 2.75 Agree
25. I look carefully to find the best value for my money. 3.05 Agree 2.70 Agree 2.75 Agree
Factor Average 2.72 Agree 2.55 Agree 2.53 Agree

42
 The table 7 shows the behavior of the respondents towards

spending and saving their monthly allowance. The results were

separated according to strand (ABM, STEM, HUMSS) to know if

the answers of the respondents have significant differences.

The behavior of the respondents from the ABM strand towards

spending their monthly allowance, most of the items were rated

as agree that makes the grand mean resulting to 2.72. This

means that the respondents often considers/ practice this kind

of behaviors. They believe that saving money and putting money

aside for rainy day is important. They also compare prices

between shops before buying a product. For the STEM strand,

most of the items were also rated as agree resulting to its

grand mean of 2.55 which means most of the time they are

practicing these kind of behavior towards spending and saving

their monthly allowance. Respondents from the STEM strand

always find some ways to save money but they also believe that

money is for spending not for holding on to, and having a lot

of money was never been their aim in life. While the

respondents from the HUMSS strand, almost half of the items

got a rate of disagree and the other half got a rate of agree

these results for having a grand mean of 2.53, compared to the

grand mean of the ABM and STEM, HUMMS is little bit lower

though it still means that most of the behavior were still

considered. Like the respondents from the ABM strands they

43
also compare prices between shops before buying a product.

Most of the time, respondents from these three strands

considers lower price yet has the quality they want.

44
 Table 8: Respondents’ Behaviors in Saving and Spending their Monthly Allowance (According
to Sex)
TOTAL Descriptive
MALE FEMALE
B. Behaviors in spending and saving monthly allowance MEAN Rating
Descripti Descripti
µ µ
ve Rating ve Rating
1. It is important to save Strongly
2.80 Agree 3.43 Agree
3.12 Agree
2. I tend to spend money as soon as I get it 2.37 Disagree 2.27 Disagree 2.32 Agree
3. I believe in putting some money aside for a rainy day 2.60 Agree 2.90 Agree 2.75 Agree
4. When I save, it is usually because I want something special. 2.70 Agree 2.87 Agree 2.79 Agree
5. I am interested in looking at different ways of saving money 2.57 Agree 3.03 Agree 2.80 Agree
6. I have always tried to save 2.63 Agree 3.20 Agree 2.92 Agree
7. Money is for spending not for holding on to 2.67 Agree 2.63 Agree 2.65 Agree
8. Every once in a while I like to go on a big spending spree 2.63 Agree 2.46 Disagree 2.55 Agree
9. I never pay for something if I can get credit 2.53 Agree 2.60 Agree 2.57 Agree
10. I don’t like owing money 2.47 Disagree 2.70 Agree 2.59 Agree
11. Having a lot of money has never been my aim in life 2.77 Agree 2.56 Agree 2.67 Agree
12. Price comparison 2.43 Disagree 2.67 Agree 2.55 Agree
13. I would not be without a credit card 2.23 Disagree 2.13 Disagree 2.18 Agree
14. Everybody should have a bank account. Strongly
3.37 agree
2.67 Agree 3.02 Agree
15. Modern people use cheques and cards not cash 2.53 Agree 2.60 Agree 2.57 Agree
16. I record my expenses 2.27 Disagree 2.67 Agree 2.47 Agree
17. You can’t get far without a bank account 2.57 Agree 2.73 Agree 2.65 Agree
18. I never seem to have enough money 2.60 Agree 2.60 Agree 2.60 Agree
19. I kept all the receipts and bills whenever I pay for my things. 2.57 Agree 2.63 Agree 2.60 Agree
20. I love shopping. 2.27 Disagree 2.60 Agree 2.44 Agree
21. The lower price products are usually my choice. 2.60 Agree 3.17 Agree 2.89 Agree
22. I compare prices between shops before buying a product 2.47 Disagree 3.20 Agree 2.84 Agree
23. I prefer to buy known national brands 2.13 Disagree 2.50 Agree 2.32 Agree
24. I postpone my shopping until during sales period 2.40 Disagree 2.90 Agree 2.65 Agree
25. I look carefully to find the best value for my money. 2.67 Agree 3.00 Agree 2.84 Agree
Factor Average 2.55 Agree 2.75 Agree 2.65 Agree

45
 The table 8 shows the comparison of the answers from

the female and male student respondents towards their

behavior in saving their monthly allowance. For the male,

the result of their grand mean is 2.55, most of items got a

rate of agree. This means that most of these behaviors were

also practiced by men. Based on their answers, they do save

because they want something special. For the female, almost

all of the items were rated as agree this resulting to a

grand mean of 2.75, this means that they consider/practice

most of these behaviors. Unlike men, women tend to keep all

the receipts and bills whenever they pay for their things

and record their expenses. Yet, both are finding ways to

save money because they believe that saving money is

important.
 CHAPTER V

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

This chapter includes the summary of findings,

conclusion, and recommendations that the researchers came up

with after conducting the research.

SUMMARY OF FINDINGS

There are 60 respondents, which were equally divided

into three different strands the Accountancy and Business

Management (ABM), Science, Technology, Engineering, and

Mathematics (STEM), and Humanity and Social Sciences

(HUMSS).

Based on the result, the respondents from ABM strand

allot more money in food and beverages; and spend less on

study materials, daily needs and beauty products. STEM

strand spend more on food and beverages; clothing and

accessories as well as on entertainment and leisure. While,

HUMSS strand shows that the respondents spend more on their

food and beverages. But comparing between male and female,

female spend more than men when it comes to food, but saves

more compared to men.

On the behavior of the respondents towards saving and

spending their monthly allowance the ABM give importance in

47
saving money not just on rainy days, respondents from the

STEM strand also give importance in saving up some of their

allowance but they also believe that money is for spending

not for holding on to, while the HUMSS like the other

strands they also give importance in saving money and they

compare prices between shops before buying a product. On the

other hand, comparing the data gathered between male and

female, the researchers found out that females/ women tend

to keep all the receipts and bills whenever they pay for

their things and record their expenses more than men, yet,

both of them are finding ways to save money.

CONCLUSION

After studying all the data that were gathered,

the researchers found out that most of the student from ABM,

STEM, HUMSS spent more of their monthly allowance on their

food and beverages as well as for their clothing and

accessories; and entertainment and leisure.

Based on the findings, ABM, STEM, and HUMSS practice

and always finds way to save money because they believe that

saving money is important.

After the researchers have examined the data they have

gathered, they found out that there are no significant

differences on their answers spending and saving behavior.

48
RECOMMENDATIONS

The following recommendations created were based on the

findings and conclusion of this study in benefit of the

student, parent, and future researchers:

Students. They should continue saving up some money, and

always find some ways to set aside some money for something

that they want or for future purposes. Also, the researchers

recommend that they should start keeping receipts whenever

they buy to track their expenses so that they could minimize

their expenses and maximize their savings. Additionally,

they should learn to set their financial goals, long-term

and short-term goals, start to plan for their monthly

budget, and learn to stick to their budget plan, it will

allow them to allocate their money in a way that will help

them to achieve their goals.

Parents. They should help their children to save money and

guide them in managing it wisely. Teach their child on how

to value their money and the importance of hardwork.

Future Researchers. They may conduct a study towards the

spending behavior of private school students and public

students to know the difference between private and public.

The researchers would like to recommend to conduct study to

those student have a part time job. The nature of their

49
school expenditures is also an advisable study for it can

expand their knowledge about their research. The future

researchers may also conduct a study about the behavior of

ABM students regarding the input and output of their

projects or school activities.

50
BIBLIOGRAPHY

51
 REFERENCES

Aknin,L., Hanniball, K.,Wiwad, D. (2018).Buying well-being:

Spending Behavior and Happiness.

Alqadi, M.“Spending Habits among Malaysian Students”

(https://www.slideshare.net/mobile/amaamazen2/que
stionnaire-msc).

Blake, D. (2018).Social media impacts student spending

habits.

Bona, J. T.(2017).Spending behavior among college Students.

Canlas, M(2014).The breakdown of students’ allowance.
Furnham, A. (199).The saving and spending habits of young
people. Journal of Economic and Research Psychology,
20(6), 677-697

Jin Jin, I. T. (2017).A study of Spending Habits Among

College Students in Miri.

La Marco, N. (2018).Psychological Factors That Influence

Consumer Buying Behavior.

Lohrey, J. (2009). How Personalities Affect Spending.

Messinger, J. (2018).Students Spending Habits.
Middlebrook, S. B.(2016).Personality and Related
Characteristics that Affect Consumer Buying Behavior.

Opoku, A.(2015).Financial Literacy among Senior High School

Students.

Peng, T. M., Fox, A. J. J., Bartholomae, S., Cravener, G.,

Martina, T. C., Ae, P., Cravener, G. (2017). The impact
of personal finance education delivered in high school
and college courses. J Fam Econ Iss, 28, 265-284.

Ramya, N., and Ali, M. SA. (2016). Factors affecting

Consumer Buying behavior.

Security Bank Team (2017). What Are Millennials Doing With

Their Money?

GrubHub Inc. (2014). Men vs.Women Eating Preferences:

52
 Online Ordering Data Reveals Gender Differences in
Takeout Dining

Valdez, D. A. (2018) Consumer becoming more aware of their

social influence-Havas.

Vijaya Lakshmi, Aparanjini Nihanka, and G. Lahari

(2017).Impact of Genderon Consumer Purchacing
Behaviour.

53
APPENDICES

54
 APPENDIX A

QUESTIONNAIRE

Our Lady of the Pillar College- San Manuel Incorporated

District No. 3, San Manuel, Isabela

Dear Respondents,

We are the researchers from Grade 12 who are enrolled in

Accountancy, Business and Management (ABM) strand.
Presently, we are conducting a study entitled “Spending
Behaviour of the Senior High at Our Lady of the Pillar
College San Manuel Incorporated: Basis for Budget Plan S.Y.
2019-2020”.

In regard, we are asking for your precious time and effort

to answer all the questions in the questionnaire that are
important and helpful for the completion of our study.

Rest assured that all data gathered from you will be kept in
highest confidentiality.

Your positive response in this request will be valuable

contribution for the success of the study and will be highly
appreciated.
Thank you very much for your cooperation.

Respectfully Yours,

Respondents

55
Name (Optional): _______________________________________

Age: _______ Sex: ( ) Female ( ) Male

Grade Level: ( ) 11 ( ) 12 Strand: ______

Monthly Income of Parents: ___10,000-29,000 ___30,000-

49,000

___50,000-69,000 ___70,000-
above

Monthly Allowance: ___2000-2500 ___2501-3000 ___3001-

3500

A. Direction: Put a check () on the amount of money that

indicates your monthly spending.

Where: 1- ₱50-299
2- ₱300-549
3- ₱550-799
4- ₱800-above

Daily expenses Amount Spent

Monthly
1 2 3 4
1. Study materials( such as
stationeries, lectures, and
printings)
2. Food and beverages
3. Daily needs ( such as
transportation)
4. Beauty products

Periodic Expenses 1 2 3 4
1. Books
2. Clothing and accessories
3. Entertainment and leisure
4. Savings

56
Direction: Put a check () on the number of column that
answers the indicator that shows how students’ save their
allowance.

Legend:
 1-Strongly Disagree
 2-Disagree
 3-Agree
 4-Strongly Agree

B. Students’ Ways of Saving 1 2 3 4

1. It is important to save
2. I tend to spend money as soon as
I get it
3. I believe in putting some money
aside for a rainy day
4. When I save, it is usually
because I want something special.
5. I am interested in looking at
different ways of saving money
6. I have always tried to save
7. Money is for spending not for
holding on to
8. Every once in a while I like to
go on a big spending spree
9. I never pay for something if I
can get credit
10. I don’t like owing money
11. Having a lot of money has
never been my aim in life
12. Price comparison
13. I would not be without a
credit card
14. Everybody should have a bank
account.
15. Modern people use cheques
and cards not cash
16. I record my expenses
17. You can’t get far without a
bank account
18. I never seem to have enough
money
19. I kept all the receipts and

57
 bills whenever I pay for my
things.
20. I love shopping.
21. The lower price products are
usually my choice.
22. I compare prices between
shops before buying a product
23. I prefer to buy known
national brands
24. I postpone my shopping until
during sales period
25. I look carefully to find the
best value for my money.

58
APPENDIX B

59
 APPENDIX C
PICTORIALS

While Adrian and Victor asking for the respondent to

cooperation in answering the question for the completion of
the research and while discussing to the respondents the
direction in answering the questionnaire.

60
 This was taken during the computation and
interpretation of the data gathered from the respondents.

61
 Appendix D
Proposed Monthly Budget Plan
Monthly Allowance: ₱2500
COMMON EXPENSES BUDGET
 Lunch ₱800
 Snacks ₱800
 Transportation ₱400
 Entertainment (phone bills/load) ₱400
 Others (module, stationaries, ₱100
miscellaneous)
 Savings ₱200
TOTAL ₱2500

DAILY EXPENSES TRACKER

AMOUNT SPENT DAILY TOTAL
DAILY EXPENSES EXPENSES
Monday Tuesday Wednesday Thursday Friday
 Lunch
 Snacks
 Transportation
 Entertainment
(phone bills/load)
 Others (module,
stationaries,
miscellaneous)
 Savings
TOTAL EXPENSES
CURRICULUM
VITAE
Name: Juvelle Cudal

Address: District No. 3, San Manuel,

Isabela

Sex: Female

Status: Single

Educational background

Elementary: San Manuel Central School

S.Y 2013-2014

Junior High School: Callang National High School

S.Y 2017-2018

Senior High School: Grade 12 ABM Of Our Lady Of The Pillar

College-San Manuel Inc.

S.Y 2019-2020

64
Name: King Harry D. Fernandez

Address: District No. 2, San Manuel,

Isabela

Sex: Male

Status: Single

Educational background:

Elementary: Our Lady of the Pillar College - Cauayan San

Manuel Branch

S.Y 2013-2014

Junior High School: Our Lady of the Pillar College – San

Manuel Incorporated

S.Y 2017-2018

Senior High School: Grade 12 ABM Of Our Lady Of The Pillar

College-San Manuel Inc.

S.Y 2019-2020

65
Name: Adrian Joseph T. Pagatpatan

Address: District No. 3, San Manuel,

Isabela

Sex: Male

Status: Single

Educational background:

Elementary: Our Lady of the Pillar College - Cauayan San

Manuel Branch

S.Y 2013-2014

Junior High School: Our Lady of the Pillar College – San

Manuel Incorporated

S.Y 2017-2018

Senior High School: Grade 12 ABM Of Our Lady Of The Pillar

College-San Manuel Inc.

S.Y 2019-2020

66
Name: Angielina S. Carmelo

Address: Sandiat West, San Manuel,

Isabela

Sex: female

Status: Single

Educational background:

Elementary: Sandiat West San Manuel Isabela

S.Y 2013-2014

Junior High School: Sandiat National High School

S.Y 2017-2018

Senior High School: Grade 12 ABM Of Our Lady Of The Pillar

College-San Manuel Inc.

S.Y 2019-2020

67
Name: Marife A. Magdangal

Address: Cabaritan, San Manuel,

Isabela

Sex: Female

Status: Single

Educational background:

Elementary: Cabaritan Elementary School

S.Y 2013-2014

Junior High School: Eden Integrated School

S.Y 2017-2018

Senior High School: Grade 12 ABM Of Our Lady Of The Pillar

College-San Manuel Inc.

S.Y 2019-2020

68
Name: Victor Jordan T. Lanuza

Address: District No. 4, San Manuel,

Isabela

Sex: Male

Status: Single

Educational background:

Elementary: Our Lady Of The Pillar College - Cauayan San

Manuel Branch

S.Y 2013-2014

Junior High School: Our Lady Of The Pillar College – San

Manuel Incorporated

S.Y 2017-2018

Senior High School: Grade 12 ABM Of Our Lady Of The Pillar

College-San Manuel Inc.

S.Y 2019-2020

69
Name: Chin Darlyn S. Ulanday

Address: District No. 3, San Manuel,

Isabela

Sex: Female

Status: Single

Educational background:

Elementary: Roxas Central School

S.Y 2013-2014

Junior High School: La Salette of Roxas College

S.Y 2017-2018

Senior High School: Grade 12 ABM Of Our Lady Of The Pillar

College-San Manuel Inc.

S.Y 2019-2020

70