Effects of Financial Problem On Academic Performance: Submitted To: Althea B. Ortiz

Effects of Financial Problem on Academic Performance
A Term paper
Presented to the Faculty of Villamor College of Business and Arts
General Santos City
Submitted to: Althea B. Ortiz
Submitted by: Agnes Villamor
October 21, 2019

TABLE OF CONTENTS
Page
Title Page……………………………………………....1
Table of Contents…………………………………..…2
Introduction………………………………...………….3
Research Problem…………………………………….7
Statement of the Problem…………………7
Conclusion……………………………………….……7
Bibliography……………………………………….….8
2
Effects of Financial Problem on Academic Performance
The Financial problems is a situation where money worries are causing you
stress. Many people are facing hard financial times and the impact on mental health can
be significant. These problems can seem impossible to overcome, but you can get help
and take steps to improve your situation. Some people have financial problems because
of a low income level.
First of all, poor financial management is the main cause students are
facing financial problem. For majority students, it is the first time they have experienced
financial independence without parent’s supervision. They fail to do the management
and flow of their money. They do not have the skill to manage their own money. They
do not ensuring that the money well spent and not misused. This problems are common
among students attempting to balance small budgets with living expenses. Some
students are not mature enough to handle finances and they overspend. Poor financial
management also happened when students do not have discipline in their budgeting
and spending money. Some student like to buy things without considered about the
prices. Which mean student do not make the best buy that can help student spend less
3
money. Besides, although students have tights budget but they tend for living
financially. For example, students that like to go to bars, partying and even go to the
pubs. They do not really planning the future used of the money which can help them to
buy books instead for spending the money in wrong way. So, at the end of the day, they
will face a big crisis of money problems.
Furthermore, students always make excessive spending behaviour. They
like spending more than what they need and have no self-disciplined in sending money.
It is like a student’s habit too. Most college students have spend money either from
earning or allowances. But with little need to pay for living expenses. Many teens
develop spending habits that become unrealistic when they must support themselves.
Sometime, student can become to high-spending lifestyle, it can accustomed be hard
for them to develop new habits that contribute to long term financial well being. They do
not ensure that their money was spent on correct way. But then, they cannot cover all
their necessities. This problem also happened when the individual has chosen a friend
which is a big spender. They can be easily influenced by their friend. Especially when
they spend their money at expensive places like Pizza Hut, McDonalds and Starbucks.
Spending your money at expensive places can easily make your money gone so fast.
4
Besides, they like to follow their friend’s trend and lifestyle. For example, when their
friends have a new mobile phones then the individual starts to feel envy and make a
desire to buy more trendy phone than their friends. Sometimes, student have strong
desire which make they really want to buy anything they want. They don’t decide
carefully when using their money and make wise financial choices. So, it is more to their
personal desire on what they decided.
The Financial problem affects your health in many ways and these health
issues can affect your home life, career and make it feel that is impossible to ever turn
things around. Financial problems can have major effects on your health. Stress, in
general, can cause heart attacks, strokes, and many other serious health issues
regardless of the source. Learn about the effects of financial problems your health and
what you can do to prevent or reduce it.Two of the most common effects of financial
problems are anxiety and depression. Financial problems is, like many others, a
significant stressor, not only among students but also working professionals. Wewould
expect it to have similar psychological, physical, and behavioral strains to that of many
othercommonly studied stressors such as workload or conflict at work. financial
problems affects cognitive ability because it affects your ability to focus if you are
5
worried about more pressing issues .Most of the students face the financial problems
due to over spending, lack of proper guidance, peer pressure, inexperience and many
other factors.
The concept of academic performance has become a source of concern to
researchers, especially as the academic performance of the students is declining.
Academic performance is defined or regarded as participants ‘examination grades at
the end of a given duration (term, semester, and programme). It could also be seen as
the level of performance in a particular field of study. Higher scores indicate better
academic performance.
In an academic institution, these basic needs go beyond food, shelter,
clothing and energy. In addition to these four, the basic needs of a student extend to the
cost of transportation, health care, stationary and more recently, the information and
communication technology. Many students have been finding it difficult feeding
themselves because they lack enough money to do so. The school cafeterias that
impact of students’ financial strength on their Academic Performance are supposed to
serve at subsidized rates are no more functioning. Even students who usually bring their
foodstuff need money for ingredients, kerosene, etc.
6
RESEACH PROBLEM
Statement of the Problem
The term paper aims to identify the Effects of Financial Problem on Academic Performance of a
students.
This specifically aims to answer the question:
1.How does financial problem affects the academic performance ?

Conclusion
This term paper examines the reasons students have poor financial management,
excessive spending behavior and living away from family are the causes of financial
problems among college students .Financial problems will make another burden for
students. Students have to rely on money from their family when their allowances run
out. So, it is all depend on themselves to handle their own finance. No one advise them
in spending their money.
7
Bibliography
Farrell, E. F. (2005, February 4). More students plan to work to help pay for college. The Chronicle
of Higher Education, LI(22), 1. Google
Joo, S., Grable, J. E., & Bagwell, D. C. (2003).Credit card attitudes and behaviors of collegestudents.
College Student Journal, 37, 405–419. Google Scholar
REFERENCES
Allington RL (1991). Effective literacy instruction for at-risk children. Knapp MS, Shields PM
(Eds), Berkeley, CA: MrCutchan Publishing Corp. pp 9-30.
Bergeson T (2006). Race, poverty, and academic achievement. Available on

www.doh.wa.gov/SBOH/ESS/documents/Race&Poverty.pdf
Brooks-Gunn J, Duncan GJ, Maritato N (1996). Poor families, poor outcomes: The well- being
of children and youth. In G.J. Duncan & J. Brooks-Gunn (Eds.), Consequences of Growing Up
Poor. New York: Russell Sage Foundation, pp 1-17.
Duncan GJ, Brooks-Gunn J (1996). Income effects across the life span: Integration and
interpretation. In Duncan, Brooks-Gunn (Eds.), Consequences of Growing Up Poor.
New York: Russell Sage Foundation, pp. 596-610.

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Effects of Financial Problem on Academic Performance

Presented to the Faculty of Villamor College of Business and Arts

General Santos City

Submitted to: Althea B. Ortiz

Submitted by: Agnes Villamor

October 21, 2019

Statement of the Problem…………………7

of a low income level.

financial independence without parent’s supervision. They fail to do the management

will face a big crisis of money problems.

Furthermore, students always make excessive spending behaviour. They

Sometime, student can become to high-spending lifestyle, it can accustomed be hard

personal desire on what they decided.

othercommonly studied stressors such as workload or conflict at work. financial

The concept of academic performance has become a source of concern to

researchers, especially as the academic performance of the students is declining.

Academic performance is defined or regarded as participants ‘examination grades at

In an academic institution, these basic needs go beyond food, shelter,

communication technology. Many students have been finding it difficult feeding

impact of students’ financial strength on their Academic Performance are supposed to

foodstuff need money for ingredients, kerosene, etc.

Statement of the Problem

This specifically aims to answer the question:

1.How does financial problem affects the academic performance ?

Bergeson T (2006). Race, poverty, and academic achievement. Available on

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