1

CHAPTER I

INTRODUCTION

Background of the Study

One of the most important factors in any transactions is money. It is the

object that is most frequently needed while buying products and acquiring

services. In other words, money is the fuel used on creating and to possess

anything. And one area where funding is necessary is education. It needs

money for additional instructional supports and more competitive teacher

compensation, and when evaluating the direct links between a student's

financial resources and academic achievement, money does matters

(Baker,2018). To rephrase it, having enough money, improves adequacy and

equity of spending per student and it is positively correlated with improved

student outcomes.

In the quick expanding world, financial management is one of the most

crucial factors for both individuals and organizations. It is a fundamental

foundation on building a vision for the allocated funds in all parts of a specific

working system. It is vital since it helps every individual to significantly make a

plan about their finance. One needs to have a solid understanding of financial

accounting and management in order to run a firm successfully and achieve

corporate objectives (Sajjan, 2022).

Financial Management can also give positive effect to the learners

themselves and not just the schools. It teaches students important life skills

like budgeting, goal-setting, and saving. It is important for students who

develop good money management skills can benefit from them throughout
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their life, whether they are managing their own funds or those of their

businesses, it can help the students to keep away from debt, to store cash for

the future, and improve an investment strategy (Ambani, 2022).

However, the most underlying trouble among the students presently is

they did not have sufficient money to survive their life at school because of

some factor that can influence their life as a students. Students having a hard

time due to the fact that they are lack of financial assistance.

This study aims to determine the level of financial management among

the Grade 12 Humanities and Social Sciences students in terms of how they

budget and manage their allowance and its relationship towards academic

performance of the learners. It also aimed to evaluate whether students’

financial management skills had a significant effect on their academic

performance.

Statement of the Problem

This study attempted to ascertain whether there is a significant

correlation between the financial management and the academic performance

of Grade 12 Humanities and Social Sciences students of General Santos City

National High School.

Particularly, this study sought to answer the following questions:

1. What is the level of financial management among G12 HUMSS students in

terms of:

1.1 budgeting; and

1.2 managing?
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2. What is the academic performance of Grade 12 Humanities and Social

Sciences (HUMSS) students?

3. Is there a significant relationship between the financial management and

academic performance of Grade 12 Humanities and Social Sciences

students?

Hypothesis

H0: There is no significant relationship between the financial

management and academic performance among Grade 12 Humanities and

Social Sciences students.

Scope and Delimitation

This study was delimited to the 135 Grade 12 Humanities and Social

Sciences students of General Santos City National High School located at the

Barangay Calumpang, General Santos City. It aimed to determine the

financial management and academic performance of the said learner this

school year 2022-2023.

Significance of the Study

This study was conducted to find out the financial management and its

relationship to the academic performance of the HUMSS students in General

Santos City National High School. Through this study, it hoped to significantly

to raise an awareness about financial management and may be beneficial to

the following:
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Grade 12 Students. This study may be an eye-opener to them that this issue

exists and they will be open-minded about this matter. It will also serve as an

awareness how this affects their academic performance.

Parents. This study may help them to know the different difficulties of their

children. It will also serve as a guide to them on how they can assist their

children financially.

Teachers. This study may help them to be aware of the situation of their

students and so they can think of a way they can help.

Non-Government Organizations. This study may inform them about the

concerns of the learners on their finances and will eventually create programs

to assist them.

Student Support Officers. Through this study, this may enlighten them about

the level of financial management of their fellow students and will create some

adjustments on their school fees.

Researchers. This conducted study may help them expand their knowledge

about how the level of financial management of every student can affect the

academic performance of the learners.

Future Researchers. This study may provide them the background and

accurate information about the said subject and will help them to have

credible reference for future research.

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CHAPTER II

REVIEW OF RELATED LITERATURE AND STUDIES

This chapter summarizes the relevant literature and studies that are

deemed to support the importance of the current investigation. The

information comes from a variety of sources, including comprehensive reading

and extensive understanding of discussion.

A. Related Literature

Financial Management Budgeting

The manner of money spending or budgeting of a student is reflected

on his approach and his possible course of action, whether they give

importance to most needed such as projects and performance tasks than

wasting it to irrelevant such as computer shop. When it comes financing

plans, persons with higher financial management skills can make wiser

choices, whereas those with lesser financial skills make bad choices that have

a detrimental impact on their money (Gilenko and Chernova 2021).

In addition, the manner or budgeting of every student is influence by

numerous factors. The budgeting of the pupils is influenced by a variety of

elements. behavior. These factors could be controllable, technical,

psychological, or both (Saumya, et al.,2020).

Moreover, for the reason that spending money on schooling is an act of

investment for the students since it requires time to successfully view the positive

aftermath of it. Hyaman (2017) stated that the increase in school spending

improve students’ long-run outcomes. This depicts the idea that spending of
 6

money for school is indeed plays a consequential role on the level of

possibility of the desired outcome to happen.

On the other hand, the manner of budgeting of a student is also being

influenced by his knowledge on handling money. Students who have a high

financial literacy scale have better attitudes and behaviors related to money,

such as budgeting (Selcuk et al.,2019).

Similarly, the way a person would carefully budget his money could

also be affected on how his perspectives on what is right or wrong to spend

money on. The relationship between the behavioral dimension of money ethic

and financial behavior is positive, it is further demonstrated that a present

orientation leads to more negative financial attitude (Aydin, et al.,2019).

Furthermore, the students should be well aware about the things to be

spending money over because by this they could effectively budget their

money and use it responsibly on their schooling. Students should be aware of

their spending limits and how to develop better financial practices namely,

money budgeting (Mon, 2020).

On the other side, the potential of a person for his future could also be

viewed on how well he budgets his allowance. Having good budgeting habit

represents one of the most predictable determinants of successful personal

and economic development (Aung et al.,2020).

Moreover, money spent or being spend by the students are from the

allowance provided by their parents and the amount of money received by the

learners are based on the level of the financial capability of their parents.

According to Yu and Zhao (2020) there is a significant complementary effect

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between household inputs of time and money and public investments in the

educational process.

Additionally, peer influence and parent socialization are also playing a

great impact on money budgeting of a student. There is a favorable

association between financial budgeting and parental socialization and money

management, but a negative relationship exists between peer pressure and

self-control (Zulfaros et al.,2020).

Lastly, the government is also attempting to speak with educators

about how students approach money because they are seen as a high-risk

group for experiencing financial troubles. Youth financial management

methods have drawn increasing attention between a variety of stakeholders,

including government agencies, the community organizations and educational

institutions since this age group is thought to be more vulnerable to financial

problems (Chuah et al.,2020).

Managing

Financial management and planning can effectively help people spend

and save money wisely. They are able to determine the most to least

important things to spend the money with. People who are financially literate

understand the fundamentals of money and assets; they are educated,

informed, and knowledgeable about matters pertaining to banking,

investments, and money management (Alshebami, 2021).

Moreover, Financial management is not only limited to the people who

are working for money compensation but it also applies to the students who

are spending their money from time to time. Students like all other people
 8

learn financial management early in life. Students are important group that

should be recognized because they practice poor financial management

(Azher and Aishah 2018). And this affects the manner of acquiring knowledge

on their schools. Tools that require money to be available for them such as

printed papers of lesson, technological gadgets to use and even their fare to

school are some of the considerations on their money spending.

Furthermore, an individual like learner is more likely to use their money

wisely when they have more financial knowledge. Financial management thus

encompasses a person's understanding of concepts as well as their ability to

use those concepts effectively when making investment decisions,

(Alshebami and Aldhyani 2022). And they spend their allowance according to

their needs for school like printing lessons and reviewers that enhances their

quality of learning.

Since the parents give all of the learners' funds, their capacity to

provide also influences their ability to make sound financial decisions. Social

difficulties, like the pandemic that just occurred, are one factor that has an

impact on their parents' ability to provide for them financially. Many people

and households are struggling financially as a result of the financial crisis'

effects (Bakar,2020).

Additionally, it was noticed that parents play a significant impact in

influencing their children's attitudes on financial management. Three monetary

socialization strategies utilized by parents, namely, monetary coaching and

monitoring, modelling of monetary behaviour and reinforcement of monetary

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behaviour substantially have an impact on the monetary behaviour of students

(Antoni et al.,2019).

It is also undoubtedly true that having a good financial management

will help you lessen the possibilities of having debts. Practically speaking,

good financial management indicates a lesser risk of debt. This alternate form

can thus be useful as a screening measure for spotting unsafe cognitive

mismanagement for attentive instructors or loan providers (Huang et

al.,2021).

Furthermore, having great sense of managing finances particularly

students, it highlights the potential of having a bright future or even being a

leader. Since managing money is a widespread issue, students who want to

be leaders of organizations and the country in the future need to have this

skill. Due to earlier studies being conducted in wealthy countries, there aren't

many data points from emerging countries or other characteristics outside

financial literacy in the literature (Majid et al., 2021).

Moreover, one of the challenges faced on managing your money is the

circumstances that is out of human control such as disasters or economic

crisis. The effects of the financial crisis have prompted the government, policy

experts, and economists to seek out the best way to encourage responsible

financial behavior among citizens in order to spur economic recovery and

ensure the nation's physical financial stability (Bapat, 2022).

However, the state of mid of a student, knowing having the great level

of impulsiveness, it is hard for a learner to manage their allowances well.

Without consistent money management practices, students will find it difficult

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to reach financial goals. Financial literacy is given a lot of attention in the

research on student money management behavior. Nevertheless, economic,

social, and psychological factors also have an impact on how undergrads

handle their money (Bamforth et al.,2017).

On the other hand, parents play a big part on molding their child’s

financial management. Parental expectations, perceived financial literacy, and

money attitudes all have a big impact on how people handle their finances. It's

interesting to note that parental expectations and money management are

fully mediated by attitude toward money, whereas perceived financial literacy

and money management are not (Sundarasen, et al.,2017).

Academic Performance

The academic performance is the measurement of student

achievement across various academic subjects. Thus, academic performance

determines the future goals and objectives of students. What subject they will

specialize in colleges and universities, which educational institutions they will

get enrolled into, what career opportunities they would take up and so forth,

(Kapur,2018).

The primary source of income for families is money, and it establishes

the amount of cost per unit of time, efficient and effective money management

at home can affect the academic performance of the students. The different

family goals can be achieved with proper financial management. The intense

desire of students to the establishment of financial management behaviour is

caused by people's needs for basic necessities based on their income level.

Financial mindset has a favourable impact on attitudes of pupils towards

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money management (Asandimitra,2021). The secret to wise household

financial management is a regular budget.

Finance like every other resource invested in education is meant to

improve the academic performance of the learners. The government spending

on education has had some success in raising students' academic

achievement. Research has shown that students who received need-based

financial help generally outperformed students who did not receive it in terms

of academic performance. A student's school allowance is a daily financial

resource that can assist them in meeting their needs. School allowance is a

daily finance of the students that can help them to support their needs,

(Rahman et al.,2018)

However, financial problems are commonly faced by everyone,

especially for those who come from underprivileged or low-income families.

The students do not have a commitment to paying monthly debt installments

like other households, their status as students requires them to pay their

education costs, rent, and other essentials, by which they received the

financial support from loans, scholarships, or their families. Thus, students

from poor or low-income families may have a negative impact on their

academic achievement (Asri et al.,2017).

Moreover, some students need to do part time job in order for them to

have the capacity to sustain their school fees. As a result, balancing their time

between employment and education has an impact on their time

management. It was discovered that non-cognitive personal behaviour, such

as a student's time perspective, are efficient predictors of academic outcomes

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because poor time management techniques make it difficult for students to

plan their work and may cause them to feel agitated near the end of a course,

when they are likely to be assessed (Talley and Fife 2017).

However, financial problems lead to the financial stress which will

eventually influence the low academic performance of the students. According

to a Widener (2017) study, pupils' poor academic performance has been

shown to be consistently correlated with financial stress.

Furthermore, there are a variety of elements that affect students'

academic performance highlighted. However, family socioeconomic issues

are important because they involve cash management, which will either

motivate children to have enthusiasm for their academics or not, (Bakar et

al.,2017).

In a more serious notes, because of the recent outbreak of disease the

CoVid 19 pandemic, it led to drastic changes of learning. The transition of old

traditional way to modernized manner of schooling happened, and this set of

studying needs a lot of technological assistance like Laptops and Internet

connection. E-learning in higher education has received a lot of attention

recently because it improves access to learning resources online while

utilizing technology, regardless of learners' geographic locations or time

constraints (Regmi and Jones, 2020). As a result, these actions necessitate

expense from the students.

Additionally, in the last two decades, the great technological advances

sweeping society have made inroads into the educational sphere. The use of

information and communication technology and social networks has opened

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up new possibilities for student learning (Martinez et al.,2018). Technologies

have acquired strategic importance and have been defined as unprecedented

educational tools.

Learning materials can significantly increase learners' achievement by

supporting learning. Adequate and quality of learning materials are basic

factors for quality education and to achieve the intended goal of the goal of

the school programme. Hence, enhances students’ academic performance

(Umoren,2018).

B. Related Studies

Foreign

According to the quantitative study of the researchers from Universiti

Teknologi MARA Penang (UiTMPP) by Ali., et al., (2021) entitled Study of

Financial Management Behaviour and Practices among students of

Polytechnic Bagan Datuk found that the majority of Students spend 23.23% of

their income on necessary food and drink needs, while housing costs 8.68%

of their total income. This suggests that the student basic needs make up the

majority of spending, accounting for 28.20% of total spending, for the study,

total of 30 respondents were chosen. A utilizing questionnaire that has been

used as research instruments. The results demonstrate the relationship

between elements that increases student spending with the application of

financial management techniques to students where r = -2.95 and p = 0.113 is

not significants.

On the other hand, the study conducted by Chuah S. et al. (2020)

entitled, Factors Affecting Financial Management Behaviour among University

 14

Students, proclaimed that “Think before acting" and "money attitudes" are two

subscales of "Power/prestige". It was strongly correlated with prudent financial

behaviour. All information was gathered through a practical sampling

technique employing a 272-person sample was given a self-administered

questionnaire. The data were then examined using structural equation

modeling. Method of partial least squares (SEM-PLS). The findings of this

research showed that financial self-efficacy, financial knowledge, and money

attitude significantly and favorably affected money management behavior

among students in universities.

While the result of the other study conducted by Odide et al. (2021)

entitled, Financial Resource Management and Its Influence on Students

Academic Performance in Public Secondary Schools in Langata Sub-County,

Nairobi County-Kenya, the majority of students enrolled in public schools face

financial difficulties, particularly those living in slums like Kibera Constituency -

Lan'gata Sub County. According to the study, in order to prevent any

corruption in the performance of their duties within the educational setting, all

bursars and board of management representatives should be appointed with

their merit certificates to the specific spot of employment.For the study, a

descriptive research approach was chosen. The investigation was carried out

in secondary public schools. There were five (5) public secondary schools in

the target demographic. A total of 260 participants were selected using the

purposeful sampling technique. Utilizing questionnaires, interview schedules,

and observation schedules, data was gathered.

Moreover, the study conducted by Syakirah (2022) entitled, The

Importance of Financial Management for Students to must manage their

 15

finances wisely in order to repay their education loan. In Malaysia, the

National Higher Education Fund Corporation (PTPTN) is the primary source of

tertiary education funding. In addition, other financial institutions offer loans for

studies, with some charging interest. Students, particularly those enrolled at

universities, are transitioning from being adolescents to a young adult, as

majority of them fall within the 18–25 age range. When a result, individuals

must learn to manage many things on their own, including their finances, as

they enter the young adult phase and begin to learn about adultery phase.

Furthermore the study by Dr.Nguyo R., et al. (2017) Entitled, Influence

of Financial Management and Learners' Performance in Primary Schools in

Kenya, said that ineffective financial management is a significant factor in

student dropouts. This is due to the fact that the majority of students who drop

out of school are unable to pay for necessities like sanitary towels, geometric

sets, and school uniforms, among other things. Because of inadequate

funding, students are discouraged when learning resources are shared. The

survey design was descriptive. Purposive sampling was used in the study.

Two additional measures, a questionnaire and an observation schedule, were

utilized in the office’s investigation. Data were examined by the researcher

using the Statistical Package for Social Science (SPSS). The study employed

both qualitative and quantitative methods, which are essentially descriptive

(measures of central tendency).

On the other hand, the study by Nakamura W., et al. (2017) , entitled

Financial Education Level of High School Students and Its Economic

Reflections showed that young high school students are receiving an effective

financial education, as evidenced by the fact that some of them are not
 16

required to tell their parents how they are using their money, that most

students learned about money management from their parents and other

family members, and that there is little family discussion about money issues.

The quality of the financial knowledge being provided by the school needs to

be improved now or in the future, including in undergraduate courses.

Regarding methods like surveys and the strategy for the problem's

quantitative nature, the study methodology was described as descriptive.

4698 high school students from 14 public schools in the city of Blumenau

made up the research population. The Kruskal-Wallis and chi-square tests

were applied during data processing.

While the study conducted by Widener (2017) entitled, Financial

Management Issues of College-Aged Students: Influences and

Consequences, expalined many students struggle to pay for their education

and make ends meet because of having low income, poor money

management, a propensity for excessive spending and high debt amounts.

These can be attributed to factors like demographics, society, psychological

factors, academic influences, family socioeconomic backgrounds, character,

among many others. Additional investigation reveals that students experience

immediate health issues related to stress as well because of today's financial

decisions.

Also, the result of the study entitled, The Financial Problems and

Academic Performance among Public University Students in Malaysia by

Yusuf et al. (2020) discussed that the relationship between financial problems

and academic performance among public university students in Malaysia is

best described based on financial assistance received late, lack of financial

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resources, insufficient loan/scholarships and lack of financial management.

From the findings, some students depend solely on education loans or

scholarships. Some students depend on their family income, whereas some

have to work to self-finance their education and daily necessities. Data were

gathered from a total of 120 respondents among students at public

universities using self-administered surveys. To produce the descriptive

statistics, the gathered data were examined using SPSS. According to the

findings, there is a strong correlation between financial difficulties and

academic achievement (p = 0.014 0.05), which suggests that students with

financial difficulties have a negative impact on their academic performance.

In general, the study conduct by Daud et al. (2018) entitled, Students

Financial Problems in Higher Education Institutions that the majority of

respondents reported having financial issues like running a deficit. Due to

their limited financial resources and the high cost of living, they fail to plan,

prioritize their spending, keep financial records, budget, or repay loans. The

ratio of income to expenditure is unbalanced. Questionnaires are the

instrument of choice for this study's data collection process. 480 samples of

undergraduate students in HEIs completed the surveys. Data was examined

using descriptive statistics.

Also, The Effect of Personal Finance Education on The Financial

Knowledge, Attitudes and Behaviour of University Students in Indonesia by

Rowlingson et al. (2021) the majority of respondents reported generally

experiencing financial issues like operating on a deficit. Plan ahead, set a

budget, prioritize expenses, keep track of spending, and avoid taking out

loans. They frequently take out loans because of their scarce financial
 18

resources and high cost of living. An instance of spending and income are not

in balance.Nine faculty members and gender served as the strata in the

study's stratified random sample technique.

Local

On the quantitative study of the researchers from College of the

Philippines entitled Academic Performance of Selected Grade 12 Humanities

and Social Sciences Students of as Influenced by Socioeconomic Factor,

Pulalon et al. (2020), revealed that the academic achievement of Grade 12

HUMSS pupils is influenced by socioeconomic issues, according to 90

respondents using the MWF schedule. However, not all of them encounter

this circumstance frequently. The following average composite weighted

mean of 3.39 for projects/activities, 2.82 for attendance, and 2.52 for health

difficulties demonstrated this occurrence. The academic performance of kids

is impacted by socioeconomic circumstances, the researchers discovered.

The study said that in order to avoid this issue and discover strategies to

exercise financial control, students should learn how to manage their money

wisely. The researchers used a descriptive method of research.

Moreover, on other study of Añonuevo et al. (2019) entitled The

Effects of Budget Management in Academic Performance of Grade 12 ABM

Students in College of the Philippines School Year 2018-2019, revealed that

The Grade 12 ABM Student's academic success is impacted by money

management. The findings of this study indicated that budget management

has an impact on Grade 12 ABM students' academic performance and

highlight issues that require attention, particularly poor budget management.

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The school must run a budget management program or seminar that will

provide ideas in effective budget management in order for the Grade 12 ABM

students to understand and practice the proper budget management. With

this, students can succeed academically matter how difficult managing a

budget might be. A quantitative method and descriptive research design were

use in this study.

On other hand the study conducted by Velerio et al. (2019) entitled

Effects of Financial Difficulties to the Academic Performance of Selected

Grade 7 Students of Emiliano Tria Tirona Memorial National High School-

Integrated Senior High School, discovered that the academic performance of

the grade 7 children at the aforementioned school is impacted by financial

challenges. It is also one of the obstacles to achieving their life goals.

Therefore, any student who wishes to attend school needs financial aid. The

respondents of the study were the selected Grade 7 Students of Emiliano Tria

Tirona Memorial National High School, Academic Year 2018-2019.

Furthermore, the study by Moneva et al. (2020) entitled Students’

Satisfaction in Their Financial Support and Persistence in School, Grade 12

students of Jagobiao National High School, students who receive adequate

financial aid can continue their education. Students who are happy with their

parents' support are likely to do well academically in school. Additionally, they

are able to perform better academically than pupils with less support. The

study used the descriptive correlational research design. The researcher used

rating scale as a medium to obtain and gathered data needed.

 20

While on the other study conducted by Cani (2019) entitled The Effects

of Financial Difficulties Towards the Academic Performance of Grade 7

Students of Emiliano Tria Tirona Memorial National High School, revealed

that students from lower socioeconomic levels and those who are having

financial difficulties have both performed exceptionally well in their academic

work. Because they believe that doing so will pave the way for their success,

they are all motivated to enroll in school, stay enrolled, and put forth the effort

necessary to graduate. Additionally, several of them have original techniques

to demonstrate their education The researcher used simple random sampling

among Grade 7 students of Emiliano Tria Tirona Memorial National High

School.

Moreover, on the Study of Panganiban (2019) entitled The Effects of

Financial Support on TVL Student's Performance Towards Their Studies, one

of the most difficult issues to deal with is financial instability. Some people

cannot attend school because they are poor, while others can but receive

poor grades because they are unable to meet their academic obligations

because of a lack of financial assistance. One of the main causes of poor

grades and occasionally student dropout is financial problems. Random

sampling, the research uses a sample chosen randomly that is meant to be

unbiased representation of the total population.

In addition, the conducted Study of Abellana et al. (2019) entitled

Financial problem to Senior High School students in relation to their academic

performance, HUMSS students in grade 12 should understand how to

manage their finances to prevent financial difficulties because they will

undoubtedly have an impact on their academic achievement. Furthermore, if

 21

people are struggling financially, it also affects their mental and physical

health.l. This is a quantitative study which made use of a survey questionnaire

to gather data. A questionnaire helped the researchers in analyzing the

financial problem of Senior High School HUMSS Students in Cebu City Don

Carlos A.

While, on the Study conducted by Acbang et al. (2019) entitled, Effects

of Financial Shortage to the Academic Performance of Grade 12 ABM

students in Bestlink College of the Philippines SY 2018-2019, revealed that

financial difficulties were a common occurrence for the majority of ABM

students, which could have a negative impact on their academic performance.

Regular attendance at school is not possible for students. The study suggests

that students should understand how to properly handle their finances and set

up a budget. The descriptive research design and pre-structured

questionnaire with both open-ended and closed-ended questions were used

to conduct the investigation.

Lastly, on the study of Cayetano et al. (2019), The Causes of Financial

Problem of Grade 12 HUMSS Students of Bestlink College of the Philippines

A.Y 2018-2019, it was noted that each student's studies or academic

performance is influenced by a variety of factors, including their economic

situation. Financial difficulties make educational attainment impossible.

According to this study's economic-status-based conclusions, a student may

skip class if their family has a low salary. If the family makes a lot of money,

the student is likely to be able to attend the private school of his or her choice

and be present in class each day. This study implies the use of the discovery

time method of research in gathering, analyzing, classifying, and tabulating

 22

data. Purposive sampling was used by the researcher. Survey questionnaires

were used to identify the causes of the financial problem among the selected

Grade 12 Humanities and Social Sciences (HUMSS) students in Bestlink

College of the Philippines (BCP).

D. Research Gap

The study by McKenzie (2019) entitled The Effects of Poverty on

Academic Achievement, emphasized the significant influence of parents on

their children's attitudes towards life in general as well as financial

management. Therefore, in order to give themselves the best opportunity of

succeeding as adults, young people must start learning about finance during

their youth. On the other hand, the study titled, Factors affecting the spending

behaviour of college students conducted by Bona (2018), stated that students

raised in poverty are more likely to face emotional and social difficulties,

mental health problems, continuous stressors in their daily lives, and cognitive

deficits. While the study conducted by Johson et al. (2018), titled Money and

Freedom: The Impact of California's School Finance Reform on Academic

Achievement and the Composition of District Spending, revealed that

spending money specifically intended for students' needs can significantly

impact student results and close performance gaps. Moreover, the study

entitled, Analysis Factors Influencing Financial Management Behaviour

discussed that Although there is a relationship between financial attitude and

financial management practices, there is no relationship between locus of

control and these practices. Lastly, on the conducted study by Dwiastanti

(2017), Analysis of financial knowledge and financial attitude on locus of

control and financial management behavior, discovered a substantial

 23

correlation between students' financial management practices and locus of

control.

Nonetheless, the purpose of this study was to concentrate on the

financial management of the Grade 12 Humanities and Social Sciences

students and its relationship to academic performance. This research will

successfully assist everyone, particularly the parents and even teachers and

school personnel about how learners tend to manage their money at school.

In addition, this research will also provide information about the factors

affecting the financial management of the students.

E. Conceptual Framework

The figure on the next page depicted the conceptual framework of the

study that examined financial management and its impact on the academic

performance of Grade 12 Humanities and Social Sciences students at

General Santos City National High School.

The financial management is the independent variable. Even without

assistance from the dependent variable, academic success, they said variable

can stand on its own.

Academic Performance is the study's dependent variable, because this

variable depends on the presence of the independent variable, which is

financial management.
 24

Independent Variable Dependent

Variable

Level of Financial

Management

1.1 Academic Performance

budgeting; and

1.2

managing
 25

Figure 1. Conceptual Framework

CHAPTER III

METHODOLOGY

This chapter presents the processes and methods needed to conduct

study. This chapter contains the following: the research design, respondents,

locale of the study, map of the location, data collection, sampling,

instrumentation, data analysis and its interpretation and operationalization of

variables.

Design
This study was conducted to determine the level of financial

management among Grade 12 HUMSS students and its relationship towards

their academic performance. The researchers used the descriptive-

correlational method as a research design since the researchers want to know

the relationship between the level of financial management and the academic

performance of Grade 12 HUMSS students.

 26

The descriptive-correlational research is a sort of non-experimental

study that makes it easier to predict and explain how different variables are

related (Seeram, 2019).

Respondents

The respondents of this study were the Grade 12 Humanities and

Social Sciences students of General Santos City National High School who

are officially enrolled in the school year 2022-2023. Using the LR Gay

technique the researchers got the 20% of the total population. They came up

with 135 students as the total respondents and total sample size.

Locale of the Study

This research study was conducted at General Santos City National

High School located Barangay Calumpang, General Santos City. The school

has high-rise classrooms, making it one of the most decorated and

competitive schools in the country. It is one of the highest enrollments of any

public secondary school in region 12. This school provides education for both

junior high and senior high school students that offers academic track, ABM,

GAS, HUMSS and STEM strand. Arts and Design track, Sports track and TVL

track.

Data Collection
These are the following steps that the researchers will follow on

collecting the data:

1. The researchers asked permission to conduct the study from the school's

administrator.
 27

2. The researchers carefully identified their respondents from the Grade 12

HUMSS Senior High School students in the General Santos City National

High School.

3. The researchers informed the respondents on how to answer. The

researchers volunteered themselves to guide the respondents if some

difficulties of analyzing the questions will happen.

4. The respondents was given an ample time to answer the given

questionnaires.

5. Lastly, the researchers collected the given questionnaires from the

respondents and will start studying the data.

Map of the location of the study

 28

Figure 2. Map of General Santos City National High School, located at

barangay Calumpang, General Santos City.

Sampling
The sample of the study was selected by the researchers using a

simple random sampling technique. A subset of a population is chosen at

random in a basic random sampling. Every person in the population has an

equal probability of getting chosen using this sampling technique (Thomas

2020).

The respondents were picked through the use of "draw lots" method.

The researchers wrote the names of the whole class members, which was

gathered in a sampling list, on pieces of paper. One number for each student,

then the papers are rolled up and shuffled in the bowl. Then, the researcher

took a rolled paper from the bowl. From this, the researcher will get 135

respondents as a sample. Additionally, the L.R. method was used to

determine the sample size or sample representation.

Instrumentation
 29

A 5-point Likert scale questionnaire was used by the researchers to

assess the academic and financial management skills of grade 12 HUMSS

students. The Likert scale used in the questionnaire ranges from 1 to 5, with 5

being the highest score.

In particular, the questionnaire has 10 indicators covering two sub

variables: Level of financial management in terms of budgeting and

managing. The experts certified the validity of the aforementioned

questionnaire.

Data Analysis and Interpretation

The researchers will evaluate, compile, interpret, and use descriptive statistics

on the data they collect. The following are the statistical tools:

For SOP 1, weighted arithmetic was used to assess the level of financial

management of the Grade 12 HUMSS students.

For SOP 2, Frequency percentage was used to determine the academic

performance of Grade 12 HUMSS students.

For SOP 3, to ascertain the relationship of the level of level of financial

management and the level of academic performance of Grade 12 HUMSS

students, the statistical tool used was the Pearson r correlation coefficient to

measure the statistical relationship between the two variables. Pearson's

correlation coefficient is the test statistics that measures the statistical

relationship, or association, between two variables.

Operationalization of variables
 30

In order to effectively understand the content of this study, the following

terms were defined operationally:

Academic Performance. This refers to the level academic engagement of

the students such as the students’ scores on their quizzes or examination and

their average grade at the end of semester.

Financial management. This refers on how students decide to manage their

school allowance.

Managing. This refers to the way of the students of handling their money for

them to have a better financial capacity.

Budgeting. This refers to how the students decide to choose on how they

spend their money such as what are the important things to prioritizing on

buying.

Chapter IV

PRESENTATION, ANALYSIS, AND INTERPRETATION OF DATA

This chapter presents the data gathered, the results of the statistical

analysis done and interpretation of findings based on the statement of the

problem.

Table 1
Level of Financial Management

Indicators Mean
Interpretation
Budgeting
1.I tend to spend my allowance 4.15 High
labeled as my “needs”.

2.My school allowance is enough 3.57 High

for my daily school expense.
 31

3.It is easy for me to budget everything 3.31

Moderate
since I have enough allowance to spend.

4. I spend part of my allowance for 4.22 High

my school projects.

5.A big part of my allowance is spend for 4.27 High

my school allowance.

Grand Mean 3.90

High
Managing
6. I tend to spend allowance on the 4.11 High
things labeled as my needs.

7.I choose not to spend big amount over 3.97 High

things that are not necessary for my school needs.

8.I spend money on important things. 3.60 Moderate

9.I carefully manage my money, that is 4.14 High

enough for my daily expenses.

10.I manage not to spend on 3.43 High

unnecessary things.
Grand Mean 3.85 High

Table 1 showed the level of financial management of the

respondents. Based on the data presented, the students highly managed their

finance in terms of budgeting with the grand mean of 3.90 and can highly

manage their finances in terms of managing with the grand mean of 3.85.

The indicator with the highest mean of 4.27 stated that much amount of the

students' allowance is spend for their school needs. While, the indicator with

the lowest mean of 3.31, stated that it was easy for the students to budget

everything since they have enough allowance to spend. Furthermore, it

indicates that the students can highly manage their finances.

 32

This implied that the students manage their allowances in

accordance to the level of prioritization of necessary things. They choose to

spend their finances over the things that are much needed on their schooling.

They understand that big part of their allowance is spent for school

allowances and they can high manage their allowance so that it will be

enough for their needs.

According to a quantitative study conducted by researchers from

Universiti Teknologi MARA Penang (UiTMPP) entitled Study of Financial

Management Behaviour and Practices among Students of Polytechnic Bagan

Datuk, the majority of students spend of their income on necessary food and

drink needs and housing costs on their total income. Thus, financial

management comprises a person's conceptual understanding as well as their

ability to apply those concepts successfully while making investment

decisions, Alshebami and Aldhyani (2022). And students spend their

allowance on school-related expenses like as printing lessons and reviewing,

which improves their learning quality.

However, knowing that a student has a high level of impulsiveness, it

is difficult for a learner to manage their allowances efficiently. According to

Bamforth et al. (2017), economic, social, and psychological factors influence

how undergrads manage their money and students will struggle to meet

financial goals if they do not practice constant money management. Financial

literacy is a major focus of study on student money management behavior.

 33

Table 2
Academic Performance of the Respondents

Academic Performance f Percentage (%)

90-100 (Outstanding) 61 45

85-89 (Very Satisfactory) 63 47

80-84 (Satisfactory) 4 3
75-79(Fair) 5 4

Below 75 (Did not meet the expectation) 2 1

TOTAL: 135 100

Table 2 showed the students’ academic performance using

frequency and percentage. According to the data presented, 63 or 47% of the

 34

total respondents they have satisfactory. 61 or 45% of the respondents have

an outstanding academic performance while 2 or 1% did not meet the

expectation.

The result further revealed that the majority of the students were able

to get the grades from 85 to 89 that indicates that their level of their academic

performance is adequate. Thus, most of the respondents are performing well

in their academics.

Students from low-income families may experience lower academic

attainment, Asri et al. (2017). Everyone faces financial difficulties, especially

those who come from low-income or disadvantaged homes. Students, unlike

other households, are not committed to paying monthly debt payments; their

status as students requires them to cover their education costs, rent, and

other necessities, for which they receive financial assistance from loans,

scholarships, or their families.

Furthermore, learning tools that promote learning can dramatically

increase learners' achievement. Adequate and high-quality learning resources

are essential for excellent education and achieving the stated purpose of the

school program. As a result, it improves kids' academic performance, Umoren

(2018).
 35

Table 3
Significance Relationship between Financial Management and Academic
Performance of the Respondents

2
Variables x value
Computed Tabular P-value
Remarks

Level of Financial
Management
14.255 12.59 0.0269
Significant
Academic Performance

As shown in Table 3, the relationship between financial management

and academic performance of the students has a computed chi-square of

14.255 is greater than the tabular value of 12.59 at .05 level of significance
 36

and p-value of 0.0269. Hence, there is a significant correlation between the

level of financial management of the Grade 12 Humanities and Social

Sciences students of General Santos City National High School.

Furthermore, the result indicated that the financial management skills

of a student did significantly contribute to the academic performance of

HUMSS students in grade 12. The way of the students choosing the manner

of managing their finances is reflected on their academic performance.

Therefore, the null hypothesis, there is no significant relationship between

financial management and the academic performance of Grade 12

Humanities and Social Sciences is not accepted.

On the study of Panganiban (2019) entitled The Effects of Financial

Support On TVL Student's Performance Towards Their Studies, one of the

most difficult issues to deal with is financial instability. One of the main causes

of poor grades and occasionally student dropout is financial problems.

However, the investigation conducted by the researchers from the

College of the Philippines entitled Academic Performance of Selected Grade

12 Humanities and Social Sciences Students of as Influenced by

Socioeconomic Factor, Pulalon etal., (2020), revealed that despite the fact

that the academic achievement of Grade 12 HUMSS pupils is influenced by

socioeconomic issues, not all of them are frequently confronted with this

situation. Thus, there might some more heavy factors that affect the

performance of the learners in school that the financial capacity itself.

 37

CHAPTER V

SUMMARY, FINDINGS, CONCLUSIONS AND RECOMMENDATIONS

This chapter presents the summary, findings, conclusions and the

corresponding recommendations based on the results of the study.

Summary

The purpose of this study was to determine the Financial Management

and its relationship to Academic Performance among Grade 12 Humanities

and Social Sciences students. It utilized a descriptive-correlational method as

a research design that sought to answer the following objectives:

1. What is the level of financial management among G12 Humanities

and Social Sciences students?

 38

2. What is the academic performance of Grade 12 HUMSS students?

3. To determine if there is a significant relationship between the

financial management and academic performance of Grade 12 HUMSS

students.

Findings

1. The level of financial management of the students is high with the grand

mean of 3.90. It implied that the students manage their allowances base on

their school needs.

2. 47% or 63 of the students they have a very satisfactory academic

performance. Majority of the students were able to get grade from 85 to 89

indicating that theye are performing well in school.

3. There is a significant correlation between the level of financial

management of the students. It has a computed chi-square of 14.255 is

greater than the tabular value of 12.59 at .05 level of significance and p-

value of 0.0269. It implied that the financial management manner of the

students could affect the academic performance of the students.

Conclusions

Based on the findings of the study, the following conclusions were drawn.

1. Students prioritize their finances over schooling, managing their

allowances to meet their needs.

2. majority of the students received marks ranging from 85 to 89,

indicating that their academic performance is satisfactory. As a result,

the majority of respondents are doing well in school.

 39

3. Financial management skills significantly affect academic performance

of HUMSS students in grade 12, rejecting the null hypothesis.

Recommendations

In line of the conclusions, the successive recommendations are drawn.

1. The parents should encourage their students to carefully manage their

finances and adjust them according to the demand of their school fees

by talking to them in their classroom.

2. The school should make a symposium program that would enlighten

the students about the aftermath of knowing how to responsibly spend

their allowances, particularly in school.

3. The school must also provide ways to enhance students' academic

performance that do not require money, such as letting them watch

videos or having a simple talk with them inside their own rooms.

4. Students should also help themselves understand that their financial

capacity does not fully affect their academic performance. It is still all

up to their own hard work.

5. Insert a session in the classroom schedule that serves as a guiding tool

for the students about how to effectively manage their finances and to

teach them about how this does not entirely affect their studies and that

there are some heavier factors that affect their studies more.
 40

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APPENDIX A
Letter Of Permission

February 16, 2023

RUSTICO S. PELONIO, JR.
Principal III
General Santos City National High School
Barangay Calumpang, General Santos City

Dear Sir,
Magandang Gensan!
 45

In fulfillment of the requirement in the research subject, the student

researchers are currently conducting their study entitled “Financial
Management and its Relationship towards the Academic Performance
among Grade 12 Humanities and Social Sciences”.

In line with this, the researchers are requesting your permission to administer
their questionnaire to Grade 12 HUMSS students who will be the respondents
of the study and to gather the data needed to complete their study.

Rest assured that the gathered data will be kept with confidentiality. Thank
you.

Respectfully yours,

RHYSA A. ALAMADA
Group Representative

Noted by: Approved by:

ALMA E. AGULAN RUSTICO S. PELONIO, JR.

Research Adviser School Principa
APPENDIX B
Validation Form

SCALE- TYPE QUESTIONNAIRE FOR THE ESTBALISHEMNT

OF CONTENT VALIDITY
Research Title: FINACIAL MANAGEMENT AND ITS RELATIONSHIP TOWARDS
THE ACADEMIC PERFROMANCE AMONG GRADE 12 HUMANITIES AND
SOCIAL SCIENCES STUDENTS
General Instruction. Based on the description, to determine the
content validity through the adequacy, appropriateness and
acceptability of the test, the content validity will be established
using the scale, please answer the items sincerely and honestly by
checking which, corresponds the value of your rating.
Legend: 5 - Very High Extent
4 - High Extent
3 -Moderate Extent
2 - Less Extent
1 - Least Extent
Score/Value
Criteria 5 4 3 2 1
a. The item in the questionnaire gives the
 46

learners the opportunity to explore the use of

the language.
1. Adequacy b. The item in the questionnaire provides various
experiences in getting the needed data.

c. The item in the questionnaire evaluates skills

performance.
a. The items are appropriate in getting
information about the subject matter
2. Appropriateness b. The items are relevant in the coming up with
the questions.
c. The terms used are in accordance with the
understanding of the learner
a. The questionnaire contains
questions needed in research.
b. The questionnaire items are
3. Acceptability
understandable and interesting to learn
c. The questionnaire motivates interest in
research activities

4. Other
Comments and
Suggestions

__________________________
Name and Signature of Validator
APPENDIX C
Questionnaire

Name: __________________________
Date: _______

Financial Management and its Relationship Towards the

Academic Performance among Grade 12 Humanities and
Social Sciences Students

Directions: Check the Column that corresponds to your answer. Use

the scale as your reference.

SCALE DESCRIPTION INTERPRETATION

5 Strongly Agree Very High

4 Agree High
 47

3 Nuetral Moderate
2 Disagree Low
1 Strongly Disagree Very Low

Level of Financial Management

Indicators 5 4 3 2 1
A. Budgeting
1. I tend to spend my allowance labeled as my

“needs”.

2. My school allowance is enough for my daily

school expenses.

3. It is easy for me to budget everything since I have

enough allowance to spend.

4. spend part of my allowance for my school

projects.

5. A big part of my allowance is spend for my school

needs.

B. Managing

1. I tend to spend my allowance on the things

labeled as my “needs”.

2. I choose not to spend big amount over things that

are not necessary for my school needs.

3. I spend money on important things

4. I carefully manage my money, so it could be

enough for my daily school expenses.

5. I manage not to spend on unnecessary things.

 48

CURRICULUM VITA E
Personal Information:
Name: Jarsam A. Abdulkarim
Sex: Female
Age: 18
Address: Prk. Maguindanao, Labangal, General Santos
City
Date of Birth: September 15, 2004
Place of Birth: General Santos City
Contact Number: 0965-649-3608
E-mail Address: abdulkarimjarsam78@gmail.com
Mother’s Name: Jamaria A. Abdulkarim
Mother’s Occupation: Deceased
Father’s Name: Sahabudin A. Abdulkarim
Father’s Occupation: Vendor

Educational Background:
Prk. Acharon Day Care Center
Pre-school: Labangal, General Santos City
2010-2011

General Santos City of the Arts

Elementary: Apopong, General Santos City
 49

2011-2017

General Santos City National High School

Junior High School: Calumpang, General Santos City
2017-2021

General Santos City National High School

Senior High School: Calumpang, General Santos City
2021- Present
Achievements/Organizations:
2016-2017: N/A
2017-2020: Achiever
2019-2020: Achiever
2020-2021: N/A
Learning Insights:

While conducting our research I have learned that it's not easy to manage and budget

money. Budgeting is incredibly important for everyone, particularly for students who are often

facing financial challenges and limited resources. It is a necessary skill for students to learn

in order to manage their expenses wisely, avoid overspending. As a student it is important to

know the right way to budget and manage our allowance

CURRICULUM and develop good financial habits.
VITAE
Personal Information:
Name: John Paul Achacoso
Sex: Male
Age: 17
Address: Prk. Rovalgon, Brgy. Calumpang, General
Santos City
Date of Birth: April 19, 2005
Place of Birth: General Santos City
Contact Number: 0955-903-6703
E-mail Address: Johnpaul.mole123@gmail.com
Mother’s Name: Checille M. Achacoso
Mother’s Occupation: Utility
Father’s Name: Benjie M. Achacoso
Father’s Occupation: Sikad driver

Educational Background:

Pre-school: N/A

Calumpang Elementary School

 50

Elementary: Calumpang, General Santos City

2011-2017

General Santos City National High School

Junior High School: Calumpang, General Santos City
2017-2021

General Santos City National High School

Senior High School: Calumpang, General Santos City
2021- Present
Achievements/Organizations:
2016-2017: Achiever
2017-2020: N/A
2019-2020: N/A
2020-2021: N/A

Learning Insights:

Because of our Research study, I have realized that managing and budgeting money are not that

easy specially for students who has financial problem regarding for those self-support working

students, and I realized how important that we need to learn managing and budgeting money is.

CURRICULUM VITAE
Personal Information:
Name: Rhysa A. Alamada
Sex: Female
Age: 17
Address: 11-A, Uhaw, Brgy. Fatima, General Santos City
Date of Birth: April 20, 2005
Place of Birth: Tacurong City
Contact Number: 0936-819-1086
E-mail Address: alamada.rhysa@gmail.com
Mother’s Name: Sitie A. Alamada
Mother’s Occupation: Self-employed
Father’s Name: Solaiman S. Alamada
Father’s Occupation: Self-employed

Educational Background:
Pre-school: Dadiangas South Central Elementary School
Quirino Ave., Dad. South,General Santos City
2010-2011
 51

Dadiangas South Central Elementary School

Elementary: Quirino Ave., Dad. South,General Santos City
2011-2017

General Santos City National High School

Junior High School: Calumpang, General Santos City
2017-2021

General Santos City National High School

Senior High School: Calumpang, General Santos City
2021- Present

Achievements/Organizations:
2016-2017: Classroom Officer – Vice President, With Honor
2017-2020: Classroom Officer – V-Pres., With Honor and Campus
Journalist
2019-2020: Classroom Officer – Pres., With Honor and Campus
Journalist
2020-2021: With High Honor

Learning Insights:

After conducting this study, I have learned that the financial capacity of a learner might o

not impact their academic performance. It all depends on how a student handles their ac

endeavors, regardless of their financial situation. I also learned how to appropriately write my pap
CURRICULUM VITAE
Personal
realized howInformation:
teamwork can be so significant in making this group paper.
Name: Bai Hamia P. Linog
Sex: Female
Age: 18
Address: Prk-4 Bo.B'laan,Labanal, General Santos City
Date of Birth: March 18, 2004
Place of Birth: General Santos City
Contact Number: 0910-248-1370
E-mail Address: linoghamia@gmail.com
Mother’s Name: Mildred P. Linog
Mother’s Occupation: Self-Employed
Father’s Name: Asieron U. Linog
Father’s Occupation: Self-Employed

Educational Background:
School
Pre-school: Messiahs Learning Center
 52

Bo. B’laan, General Santos City

2010-2011

Elementary: Dadiangas West Central Elementary School

  Magsaysay Ave., Dad. West, General Santos City
2011-2017

General Santos City National High School

Junior High School: Calumpang, General Santos City
2017-2021

General Santos City National High School

Senior High School: Calumpang, General Santos City
2021- Present
Achievements/Organizations:
2016-2017: Classroom Officer – Vice President
2017-2020: With Honor
2019-2020: With Honor
2020-2021: N/A
Learning Insights:

I thought that budgeting and managing money were easy. But, in our research study, I realized

that budgeting and managing money are not easy, especially for students. We really need to learn how

to budget and manage money. The lack or absence of budgeting and money management, especially

among students, can greatly affect their academic performance or studies.

CURRICULUM VITAE
Personal Information:
Name: Jun Rey Z. Marqueda
Sex: Male
Age: 19
Address: Prk-19 bayanihan, Brgy. Fatima, General Santos
City
Date of Birth: October 7, 2003
Place of Birth: General Santos City
Contact Number: 0965-461-9696
E-mail Address: junreymarqueda143@gmail.com
Mother’s Name: Ester Z. Marqueda
Mother’s Occupation: Housewife
Father’s Name: Regino V. Marqueda
Father’s Occupation: Sikad Driver

Educational Background: Fatima Central Elementary School

 53

Pre-school: N/A

Fatima Central Elementary School

Elementary: Fatima, General Santos City
2015-2016

General Santos City National High School

Junior High School: Calumpang, General Santos City
2019-2020

General Santos City National High School

Senior High School: Calumpang, General Santos City
2021- Present

Achievements/Organizations:
2016-2017: N/A
2017-2020: With Honor
2019-2020: N/A
2020-2021: N/A
Learning Insights:

Through this research, I have learned the importance of managing money for your academic

performance and how to budget your allowance. It also helped me understand that not every student

has tight financial assistance for their school expenses. and also helps me to deeply understand the

effects of financial budgeting on students like us.

CURRICULUM VITAE
Personal Information:
Name: Mary Rose Q. Palanog
Sex: Female
Age: 18
Address: 11-C, Uhaw, Brgy. Fatima, General Santos City
Date of Birth: December 27, 2004
Place of Birth: M'lang North Cotabato
Contact Number: 0907-369-9031
E-mail Address: maryrosepalanog@gmail.com
Mother’s Name: Myrna Q. Palanog
Mother’s Occupation: Small business owner
Father’s Name: Renante L. Palanog
Father’s Occupation: Deceased

Educational Background:Fatima Central Elementary School

 54

Pre-school: Dalipe Elementary School

M’lang, North Cotabato
2010-2011

Dalipe Elementary School

Elementary: M’lang, North Cotabato
2011-2017

Lika National Highschool

Junior High School: M’lang, North Cotabato
2017-2021

General Santos City National High School

Senior High School: Calumpang, General Santos City
2021- Present
Achievement/Organizations:

2016-2017: Classroom officer - Business manager

2017-2020: Achiever
2019-2020: With honor
2020-2021: With Honor
Learning Insights:

Through this research I've learned a lot of things. I am able to learn on what should a research

paper must contain and what are the things we must consider and avoid in writing a research paper.

This research journey thought me on how to manage my time and deepen my knowledge towards

this specific topic that we choose which is, the factors that affect the academic performance of the

students like us.