Impact of Financial Stress

on the Academic Performance

of Paranaque Senior High School Students

S.Y. 2022-2023

Submitted by:

Jonas Juanes Pimentel

Rain Maegan De Leon San Jose

Dianna Rusiana Alemania

Jumilyn Beto

Blake John Mayor

Rheaann Serrano

i
 TABLE OF CONTENTS

Title Page ………………………………………………………………… i

Table of Content ……………………………………………………......... ii

Chapter I: Background of the Study

Background of the Study…………………………………………………. 1

Conceptual Framework …………………………………………………… 2

Statement of the Problem …………………………………………………

Significance of the Study………………………………………………….

Scope and Delimitations ………………………………………………...

Definition of Terms …………………………………………………….....

ii
Chapter II: Review of Related Literatures and Studies

Foreign Literature ………………………………………………………..

Local Literature…………………………………………………………….

Foreign Studies …………………………………………………………....

Local Studies ……………………………………………………………….

Chapter III: Research Methodology

Research Design …………………………………………………………….

Research Participants ………………………………………………………..

Research Locale ……………………………………………………………..

Sampling Technique …………………………………………………………

Research Instrumentation ……………………………………………………

Data Gathering Procedure ……………………………………………………

Statistical Treatment ……………………………………………………….....

iii
Chapter IV: Presentation, Interpretation and Analysis of Data

Presentation of Data ............................................................................................

Chapter V: Summary of Findings, Conclusion and Recommendation

Summary of Findings ...........................................................................................

Conclusion ...........................................................................................................

Recommendation ..................................................................................................

References ...........................................................................................................

iv
 Chapter I

Background of the Study

Introduction

Financial problem occurs when an individual is having some kind of problem with

money that causes distress. It can range from not making enough money and

overspending to feeling burdened with debt and having little savings (Donohoe,2019).

It can be caused by lack of financial knowledge or in other terms, financial literacy. In

the literature, the term financial literacy is frequently used to refer to financial

education and financial knowledge. However, Potrich et.al, (2016) stressed that

financial literacy conceptually has a deeper meaning and argued that people with

positive attitudes are more likely to behave more consistently, which is shown

through responsible financial attitudes such as the desire to return the money they

borrow.

Today’s young people often face challenges in school life because of their limited

financial management capabilities (Yahaya et. al, 2019). In contrast, students who are

financially literate are less likely to face financial troubles as they can manage their

debt better and are more likely to make right choices about money such as saving for

future. When Covid-19 pandemic emerged, many students experienced major

financial difficulties. A family's financial situation influences their choice of learning

environment, and many students have no choice in the type of school they attend

because their parents are unable to send their children to a private school. According

1
to Dang and Bulus (2015), students are more motivated to learn when all gadgets and

instructional materials are readily available. Some students prioritize thinking about

how to get funds to purchase handouts, practical materials, books, and so on over

concentrating in class. Families in serious financial trouble are more likely to suffer

from half education, Ebunolowa (2015). A lack of monetary resources allocated to

learning acts as an impediment to a student pursuing a senior high school education.

Numerous studies demonstrate that financial issues have an impact on high school

students' cognitive capacities and probably contribute to their subpar academic

results. Students who don't worry about money typically perform better in class and

are more likely to complete their education as compared to those who do poorly or

drop out of school. The students experience financial stress because of their fear of

not being able to cover their expenses at school, according to a study on student

financial wellbeing conducted. Financial stress is a major contributing factor in

many mental health problems that students encounter. Most students tend to isolate

themselves while dealing with these problems. They also experience depression,

Aidan Kang (2022).

The purpose of this study is to determine the struggles of students from Paranaque

Senior High School and show importance of having knowledge on proper financial

management thus, at the end of this study, awareness about these matters is

expected to increase.

2
 Statement of the Problem

The objective of this study was to determine what the thoughts of students are when

it comes to their family's financial status, especially if the COVID-19 pandemic

occurred. Financial problems faced by students are known as their financial

situation is not good and they do not have enough money for their daily expenses.

The frustration arises due to their unawareness about money management wherein

students have to make decisions for saving their money and reducing their daily

expenses as much as possible. This makes them stressed out and feel helpless,

which often leads to the accumulation of stress. Finances affect the student’s

academic performance by its limitation.

1. Why do students need to know how to manage finances?

2. How does financial stress affect students' academic performance?

3. How do students deal with the financial stress they are experiencing?

Conceptual Framework

Accountancy

Business Management

(ABM) Students
 Academic
Financial
Performance
Humanities and Social
Stress
Science (HUMSS)

Students

Figure 1. Conceptual Framework

The study focused on the students at Paranaque Senior High School for the school

year 2022- 2023. In this conceptual framework, the relation of each variable is

shown. The study is essential for the students affected by their family's financial

instability. The flow of this study is shown in the framework.

The independent variable is shown in the first box. This shows what factors affect

Accountancy, Business, and Management (ABM) students and Humanities and

Social Sciences (HUMSS) students.

The assigned respondents are listed in the second box. This box shows who are

affected by financial problems. They will help researchers to gather data from their

perspectives.

The third box shows the dependent variables. This shows how students' academic

performance is affected. By determining the academic performance of students in two

different strands, it will help researchers know how financial literacy would also take

place in this matter.

1
 Significance of the Study

This study aims to know what and how financial problems affect students'

academic performance and how they cope with it. The study will benefit the

following:

Students. This study is important for the students to be aware of financial stress and

how they can cope with it. Students may gain knowledge of different perspective

from different people and their situation.’

Family. This study will help the family to understand the financial stress and how

they can manage it, they can help their children to be aware when it comes to

money, through this study they will more knowledgeable as a family's and how

they can control the financial problem especially during the pandemic, this study

they will be know the way on how they can survive and how they can save money

on daily expenses

Local Government Unit. This study will help local government units (LGU) to

come up with a better solution to the financial problems of the students. With the

existing financial subsidies for students in need yet, there are still students who still

experience financial problems, LGUs may think of ways to really help the students

such as making scholarships more accessible for all students.

Future Researchers. This study will help future researchers to use this as

their guide. If they make a study related to this, this study may serve as their

reference to see which gap, they could focus on and make a wider study for

more future beneficiaries.

Scope and Limitations

The study focuses on finding out how students are affected by the financial

problems of their family. The data collection will be conducted to 85 students. It

is to share their experiences which this study needs the most. The respondents

that will be given a survey should come from a low-income family, enrolled in

Paranaque Senior High School for the School Year 2022-2023 and can come

from any strand: Accountancy Business Management (ABM) or Humanities and

Social Sciences (HUMSS).

Definition of Terms

Academic Performance – otherwise known as academic achievement, it is the

measure or extent to which a student which is the respondent has performed and

reached the educational goal in each academic curriculum.

Accountancy Business Management (ABM) and Humanities and Social Sciences

(HUMSS) – The population where the researchers will get the respondents

Effects - a change which is a result or consequence of an action or other cause.

Financial stress - referred to the amount of stress a student had about their financial

situation. Anyone can experience financial stress, but financial stress may occur more

often in households with low incomes.

Parañaque Senior High School - The setting or scope of the study

Chapter II
 Review of Related Literature

This part of the paper aims to review existing related literatures about the topic.

Foreign Literature

Everyone commonly experiences financial difficulty, especially those who are

from disadvantaged or low-income families. It is an essential concern for all people,

especially students. Due to a lack of financial means, low-income families with

disadvantaged children often experience financial difficulties (Yusuf S. et.al,2020).

Being financially illiterate lead to financial problems. Financial literacy is defined as

the ability to understand and effectively use various financial skills ,including

personal financial management (Investopedia, 2022) . Lacking this can be very

damaging to an individual’s decisions when it comes to finances. On the other hand,

having this protect individuals from becoming victims of financial fraud which have

caused problems in some families.

For students, those with greater financial management have a lower level of

financial problems and stressors (Falahati L. & Paim L. ,2023). With this, it is clearly

important that starting from a young age, managing finances should be learned to

avoid making unsmart decisions when it comes to money matters especially at

toughest times.

Local Literature
 In a statement by Bangko Sentral ng Pilipinas (BSP) , it was said that out of

seven financial literacyrelated questions only three were correctly answered by

Filipino Adults. This show how a lot of Filipinos lack knowledge and skills in

financial management and that it is a must to teach these to students. Financial

problems can be avoided through financial literacy. Senior High School students can

learn it through Accountancy Business Management (ABM) strand. According to

Edukasyon.ph (2023), this strand focuses on the basic concepts of financial

management, corporate operations and all things that are accounted for. This will

enhance their skills and decision-making in money matters. It is an advantage for

ABM students because non-ABM students are needing it too. According to an article

by Galope C. et.al (2019), non-ABM students find it challenging to acquire and

comprehend basic terminologies used in business mathematics. This is a matter

relating to how students could deal with financial problems.

Foreign Studies

As stated above in the introduction, numerous studies demonstrate that

financial issues have an impact on high school students’ cognitive capacities and

probably contribute to their subpar academic results. According to Olufemioladebinu

et al. (2018), students who come from low socio-economic family status tend to show

a poor academic performance compared to students who come from a better family
background status. Similar to that, Asri et. al (2018) explained that students who

come from a high economic status are able to have a stimulating learning

environment and thus it is possible for those who have better family financial

background to perform better academically than those who don’t. In these studies, it

was emphasized that coming from a better family background is a privilege for

students’ learning and development. They won’t need to worry about spending for

learning materials and school-related activities unlike those who come from low-

income families who even need to support their needs because of not having the

ability to purchase materials for learning that will ultimately affect how well they do

in school.

Talking about experiencing financial problems will bring again poor financial

management. Students from low-income families and at the same time lack financial

literacy tend to experience more stress. Asri et.al (2017) stated that individuals with

poor financial management may find it challenging to manage their stress and

consequently, it has an impact on their daily life and health causing them to get sick.

Local Studies

Filipinos too, can’t get away with poor financial management. In fact, Philippines

is the “most stressed” nation when it comes to managing household finances. This is

according to a study conducted by Forrester Consulting who found out that seven(7)

out of ten(10) Filipino consumers are struggling with debt. In addition to that, having

bad money habits and not understanding how money works lead to financial
problems (Go,2017). This creates/worsens family with a low socio-economic status

and often allows their children to suffer the most.

Not only in adults but this problem occurs in students too. In a study by Amaro C.

et al (2022) , students experience stress due to overspending and poor budgeting also,

some of the students don’t feel satisfied with their academic performance due to

financial status. This tells how poor financial management correlates with financial

problem. In addition to that, according to Annual Poverty Indicators Survey (2016),

20% of the students quit school and stated financial concerns as their reason for it.

This shows how financial problem impacts a student.

Chapter III

Methodology
Research Design

The objective of this study was to know the difficulties of students when it

comes to financial problems. This study will use two types of Research Design ;

Quasi-Experimental Research Design and Descriptive Design.

Quasi-Experimental Research Design is for accessing the independent

variables of the study and it can provide strong interval validity when assumptions

are met. According to Thomas L. (2022), establishing a cause-and-effect link

between an independent and dependent variable is the goal of a quasi-experimental

design. A quasi-experiment, however, does not rely on random assignment, unlike an

actual experiment. Instead, non-random criteria are used to classify participants into

groups. In the study, Quasi-Experimental Research Design will be used to

determine the effect of financial stress to students’ academic performance from

Paranaque Senior High School.

In Descriptive Research Design, the features of a population are described. It

gathers information that can be used to respond to many different what, when, and

how queries about a certain population or group (Child Care and Early Education

Research Connections, 2023). The needed data about the difficulties of the students

from low-income family will be described with this research design. Moreover, the

researchers will be able to know the experiences of the respondents with financial

problems and their knowledge on financial literacy.

Research Participants

This study was conducted in low-income students from Paranaque Senior

High School. A pre-survey was done to 85 students to find the right participant for

the study. They were purposefully chosen according to the study who aims to

determine the effects of financial problems to Senior High Students from two

different strands. After analyzing the respondents’ profile, 35 respondents were fit for

the main survey of the study.

Research Locale

The study will be conducted in Paranaque Senior High School located at

Barangay San Dionisio, Paranaque City; a public school for Senior High School

students that was built 3 years ago. This is the best school to conduct the survey

because it is a public school, most students enrolled here chose free education.

According to Rempajo et.al (2021) , students chose to enroll at Paranaque Senior

High School because of its location, students were just within the vicinity of the

school.

Paranaque Senior High School is located near Tramo Street of Baranagay San

Dionisio. 73% of residents here have blue-collar jobs which is also the reason why

majority of families here earn income ranging from 10,000-15,000 per month when

an income below 11,906 monthly was considered poor (National Statistical

Coordination Board,2009). This implies that most of the families are able to provide

adequately their basic needs however, there may also be a high incidence of out of

school youths due to financial difficulties (Legarde,2010). In short, this study which
requires students coming from low-income families can be found at Paranaque

Senior High School given its location.

Sampling Technique

Purposive sampling is the method of sampling that was applied. Purposive sampling

technique was used to determine the research subjects. According to Campbell et.al

(2020), a purposive sampling is concerned with identifying which individuals are the

best candidates to provide the necessary information to achieve the study's

objectives.

Research Instrumentations

The main instrument used in the study is a survey questionnaire through

Google Form. We used two (3) types of questionnaires which are Numerical Rating

Scale, Matrix Questions and Multiple Choice. There are sets of question provided for

Grades 11 and Grade 12 learners from both strands to collect data.

Data Gathering Procedures

During the data

Figure 2. Flow collection, all
respondents
Upon approval, should be
chart of the The researcher The researcher the researchers aware that
develops will request will start to their personal
research questionnaire approval and gather data information
that will best validation from the will remain
procedure fit the research before students in private. After
questions. conducting the Paranaque answering,
data collection. Senior High gratitude
School. should be
expressed to
the
respondents.

Statistical Treatment

The data was acquired and analyzed using survey questionnaires. Through

percentage, the researchers will be able to visualize the data such as, where the

students mostly spend their daily allowance. The formula used to determine the result

was (% = (N/T) *100) to find the total percentage.

 Chapter IV

Presentation, Interpretation, and Analysis

The findings are presented following the sequence of the questions in Chapter 1.

Demographic Profile of Respondents

Profiles Description Frequency Percentage

Age (Main Survey) 16 5 14.3 %

17 7 20%

18 18 51.4%

19 4 11.4%

22 1 2.9%

Sources of Income Family 80 94.1%

(Pre-Survey) Salary(Working Student) 8 9.4%

Own business 2 2.4%

Daily Allowance Below 50 17 20%

(Pre-Survey) 50-100 52 61.2%

120-150 9 10.6%

160-200 7 8.2%
Analysis

Row 1 (Age)

Most of the respondents are in the age of 18 and they still finishing their study however they

cannot meet the basic needs due to have financial problem and it affects to their academics

performance.Most of the student in parañaque Senior high School facing the financial

problem. Students have different expenses especially for their school and personal needs

that leads to poor academic performance.According by Hayes (2018) Financial distress

occurs when an individual's bill or expenses are unable to be met or paid for.Afraid of one's

financial obligations or expenses is defined as financial stress.If a person fails to meet their

financial obligations their debt can accumulate and become unpayable.

Row 2 (Source of Income)

As compared to other options, option no.1 has the highest response which means majority

of the respondents get their money from their family only.

Row 3(Daily Allowance)

Most of the respondents have low daily allowance due to coming from low income family.

According to National Association of Secondarey School Principals (), students living in

poverty often have fewer resources at home to complete homework, study, or engage in

activities that helps equip them for success during the school day.
SOP #1 Why do students need to know how to manage finances?

Figure 3. Why do you think it's important to know how to manage your allowance?

Based on the data shown, among the 35 respondents, why they think it's important

to know how to manage their allowance, 21 or 60% say to avoid worsening

financial problem, 19 or 54.3% say we need to save money, an emergency or

unexpected situation may occur suddenly, 9 or 25.7% say you don't have to spend

as much as your friends to be one of the group, 26 or 74.3% say even if you

received financial support from your family, your funds are not unlimited, and

you'll need to learn to live within the budget. The majority of people saying that
 even they received financial support from their family, their funds are not

unlimited, and they need to learn to live within the budget

SOP #2 How does financial stress affect students' academic performance?

Figure 4. What are the causes of these financial problems? (check all that apply)

Based on the data shown, with a maximum of 35 responses per choice, poor

budgeting got 14 responses or

40%, low income of family got 28 or 80%, lack of stable income got 16 or 45.7% of

the 35 respondents while 3 or 8.6% of the respondents answered others. Majority of

the respondents stated that they are having financial problem due to low income of

family.

Figure 5. During the pandemic, what are the problems that your family

encountered? (check all that apply)

Based on the data, Option 1 A family member lost job got 19 respondents or 54.3%,

Family’s business closed due to strict policy and decline in sales got 7 or 20%

respondents, Family resorted to debts got 5 or 14.3% respondents, Bills piled up got

19 or 54.3% respondents while the Had new source of income but is still not enough

got 17 or 48.6%. The majority of the respondents stated having a family member lost

job and bills piled up as the problems their family encountered during the pandemic.

Figure 6. In what way do these financial problems affect your academic

performance?
Based on the data working before going to school got 2 respondents or 5.7% of them

are late to school because of their work, 1 student or 2% of them lacks money to buy

materials for their projects or homework, 17 respondents or 48.6% of them are

struggling in managing time because of their work, 26 students or respondents are

unable to focus in class because of too much thinking about their problems, 3

respondents stated not being able to attend in class groupings because of their work,

8 respondent stated having no resources especially during online class to keep up

with their lesson or activities and had no gadgets to attend online class. Lastly, 19

respondents stated being pressured about their future because they’re thinking their

future is not secured. According to the data, as compared to other options, Option

no.4 which says that students experience being out of focus during class had the

highest response.

Figure 7. How satisfied are you with your academic performance?

 Researchers used a numerical rating scale of 1 to 5 point Likert scale to determine

how respondents are satisfied with their academic performance, these are the very

unsatisfied, unsatisfied, neutral, satisfied, and very satisfied. The highest ranked was

neutral ranged from 20 or 57.1%, satisfied ranged from 9 or 25.7%, the very satisfied

ranged from 3 or 8.6%, unsatisfied ranged from 2 or 5.7% and the last and lowest

ranged was the very unsatisfied with a range of 1 or 2.9%. Based on the result of the

survey, most of the respondents, 20 out of 35, are neutral about their academic

performance.

SOP #3 How do students deal with the financial stress they are experiencing?
Figure 8. How do you cope up or how do you ease the stress you get from these
problems?

Based on the data, option no.2, practicing proper budgeting got 30 which is the

highest as compared to others. Second, are options 1 and 3 which states trying to earn

and applying for education assistance from the government which got 7, and last is

the option of playing games to relief some stress which got 1 response. The majority

of the responded stated that they try to practice proper budgeting as a way to cope

with financial stress.

How did these coping mechanisms affect your academic performance?

Responses Open Axial

 Respondent#1 Mental issues affect
the academic
performance.
As a student, I can experience difficulty
concentrating, memory problems, and reduced
motivation to study.

Respondent#17 Mental health issues Financial stress affecting

students’ behavoir.
Too much pressure, stressful and lack of sleep.

Respondent#18 Badly

affected
It affect my academic performance some days you
will see me being really approachable but there are behavior and
day when I really want to be alone for sometime and
academic
don't want to participate to anything
performance.

Respondent#22 Think too much

Okay lang naman pero

minsan parang

nakakastress lang kasi

araw araw kailangan

mong isipin yung pera

na ibbudget mo

Analysis
The researcher see in 1st row of the table, respondent's 1, cant focus to their

academics due to have mental issues and difficulties in concentrating. In 2nd row of

the table show that respondent's 17 are experience the pressure and stress that cause

mental health and it affects to their academic performance. In 3rd row of the table,

respondents 18 experience financial stress that affect to the academic performance. In

4th row of the table show that respondent's 22 are experience the financial problem

and it leads to have an stress

Responses Open Axial

Respondent#30 Helps to budget limited
money
Dahil yung pang araw araw kong baon ay sakto lang pero
kailangan ko rin I budget kasi may mga project pa, tulad ng
nalang sa research 29er an need ko rin ng pera para sa gastusin
tsaka di sapat ang 29er ana kinikita ng aking mga magulang.

Respondent#3 Budgeting is essential for The help of

reducing stress financial manag
It helps me handle my money properly and ethically at home reducing
and even at school, by proper budgeting it help me secure stress.
my future and less thinking about it everyday that can cause
me stress during lessons

Respondent#6 Budgeting can help me to

manage finances

Proper budgeting help me manage my finances and become

more financially responsible, which can have a positive effect
on my academic performance. Having a budget can help me to
stay on top of my finances, manage my expenses, and plan
ahead to reduce stress and anxiety. This in turn can help me
focus more on my studies, prioritize tasks, and better manage
my time. Additionally, having a budget can help me better
manage any student loan debt which can reduce the stress of
having to repay a large amount of money.

Analysis
 In 1st row of the table show that respondent's 30, need to practice budgeting to

provide the school needs.

In 2nd row of the table show that respondent's 3, proper budgeting will help to

secure the money and reduce stress. In 3rd row of the table show that respondent's 6,

having a proper budgeting will have a positive impact especially for their studying

and it help to manage finances

 Respondent#13 Focus better and had grades
improved

I found that I was able to focus

better on my studies and my
grades improved. taking regular
breaks, exercising, and talking to
friends

Respondent#19 Able to do assignments and Advantages and

participate in school. disadvantages of trying to
Kahit papaano nagagawa ko cope up with financial
naman ang mga assignments and stress
nakakapag participate naman
ako nang maayus

Respondent#5 I don't manage my time leads to

missed a lessons.

Because I didn't manage my

time properly, sometimes I don't
make it to our first subject, so
sometimes my teachers get
angry and sometimes I miss our
lesson.

Respondent#28 I unable to finish my activities

on time due to work.

Sin

ce

I've

trie

wor

kin

g I
 was

n't

able

to

do

and

fini

sh

my

wor

ks/

mo

dul

es

on

tim

Analysis

In 1st row of the table show that respondent's 13, knowing to focus on study will help

to increase the grade. In 2nd row of the table show that respondent's 19, despite of

financial problem they will be able to do assignment and participate in their classes.

In 3rd row of the table show that respondent's 5, lack of time management will lead

to missed the lesson. In 4th row of the table show that respondent's 28, they cannot

passed their module due to have work that can leads to have low grade
Financial plays an important role in students’ academic performance. Financial

problems are a serious issue that needs to be addressed as it leads to multiple stages

of problems such as health issues and academic performance. Dang and Bulus (2015)

education is a high-cost social service therefore insufficient financial support will be

a problem for students to enhance themselves in academics thus leading to poor

academic performance. According to the respondents, they got lower grade due to

financial stress and they cant passed their projects on time and they can't do their

activities due to dont have a enough money to buy the school needs. Some of them

have to work to self-finance their education and essential daily necessities. (Daud et

al. 2018) stated that some students do not have other financial resources. As a result

student may not be able to provide a school necessities and they can't attend to their

particular classes due to have financial problem

SOP #1 Why do students need to know how to manage finances?

These data represent the difference between abm students and humss students preceptions

on different statements pertaining to financial knowledge.

 Question: Have you ever learned how to manage money in

your class? Respondents from ABM Strand

Figure 9

Respondents from HUMSS Strand

 Figure 10

Analysis

Comparing the two figures show that ABM students are more aware and

exposed to financial education.

Question: How much do you agree with the following statements about the way you handle

your money? Respondents from ABM Strand

 Figure 11

Respondents from HUMSS Strand

Figure 12
Analysis

Statements from this question are about the importance of making careful decisions over

money matters. Comparing the two figures ,ABM students agree more about this matter

while HUMSS on the other side, are just neutral.

Question: To what extent do you agree with the following statements?

Responses from ABM Students

Figure 13

Responses from HUMSS students

Figure 14
Analysis

The statements under this question talk about the students interest in money matters.

Comparing the two figures show that ABM students express clear interest in financial

knowledge while HUMSS students are between neutral and agreement. This study shows

that there’s somehow an interest shown by non-ABM students however, according

to Galope et.al (2019), non-ABM students have difficulty in grasping and understanding

business mathematics terms. It also proves that the students are having a hard time with the

unit/subject because of lack of interest and poor retention. Students from ABM strand has

more interest on topics about money as compare to HUMSS students.

Question: Where do you mostly spend your money?

Responses from ABM Strand

Figure 15

Responses from HUMSS Strand

Figure 16
Analysis:

Shown in the two figures are the things students spend their money at. In this data, it was

shown that ABM students spend more than HUMSS students. Moreover, impulsive buying

had more responses from ABM students than

HUMSS students. This shows that despite having more knowledge about importance of

proper budgeting, they still lack the application of this knowledge in their lives.
Question: How satisfied are you with your academic performance?

Very Unsatisfied- 1 Satisfied-4

Unsatisfied- 2 Very Satisfied-5

Neutral-3

Responses from ABM Strand

Figure 17

Responses from HUMSS Strand

Figure 18

Analysis:

Relating with the different questions above testing ABM Students and Non-ABM students

knowledge and interest on financial management shows that ABM students are more

satisfied with their academic performance than HUMSS students (Non-ABM Students).

Figure shows that ABM students are in between neutral and satisfied when it comes to their

academic performance while most of the HUMSS students are just neutral on their

satisfaction over their academic performance.

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https://www.nassp.org/poverty-and-its-impact-on-studentseducation/?

fbclid=IwAR313ZY_f7LU5HIREvfZbDwK0y4ltDeZAYOLl_jLetlx-ikMEVWQ_f7X5-E

Chapter V

Summary of Findings, Conclusions, and

Recommendations

This chapter presents the summary, conclusions and recommendations that

could help researchers in

their future studies.

This study was conducted for the purpose of determining how financial

problem affects the

Parañaque Senior High School students’ academic performance. The researchers did

a pre-survey to gather up demographic profile to evaluate every respondent to know

if they are qualified to the set of limitations of the study prior to the distribution of

the questionnaires. The inquiry was conducted during the school 20222023.

Summary of Findings

SOP #1. Why do students need to know how to manage finances?

Majority of the respondents stated that even if they receive financial support

from their family, their

funds are not unlimited, and they’ll need to learn to live within a budget. Moreover,

based on the data gathered assessing the difference between ABM students and Non-

ABM students’ financial literacy in relation with their satisfaction over their

academic performance , shows that ABM students having more interest and

knowledge on financial management shows higher satisfaction than HUMSS

students.
 SOP #2. How does financial stress affect students' academic performance?

Based on the data gathered through survey questionnaires, coming from a

low-income family is mostly the reason why financial problem occurs in a student,

especially during Covid-19 pandemic when there was strict implementation of

community quarantine causing job loss, resulting to lack of source of income. Most

households had their bills piled up due to this problem.

Students coming from low-income families stated that as they experience

financial stress, they lose

focus in their studies because of too much thinking of their problems. Moreover,

they stated that they feel pressured because having financial problems make their

future unsecured. Experiencing these made them rate their satisfaction with their

academic performance as a 3 out of 5.

SOP #3. How do students deal with the financial stress they are experiencing?

Majority of the respondents chose proper budgeting as a way to cope with the

financial stress they experience. For them, practicing proper budgeting affected their

academic performance positively. It helps them manage the allowance that they have

properly by allocating it on important things only, and by saving money for other

needs in their studies. These allow them to provide themselves the things that they
need for school activities and projects. However, some stated that too much thinking

of where to budget the limited allowance that they have still gives them stress.

Additionally, a working student respondent stated that because of trying to work,

he/she struggled at finishing his/her activities and projects on time.

Conclusions

Based on the gathered findings, the following conclusions were drawn.

1. Students are aware that having limited allowances

makes them need to practice

budgeting. They need to become practical because of the financial status

they are at.

2. Students from low-income families experience

financial stress and this negatively

affects their academic performance.

3. Practicing proper budgeting is a way to help ease

financial stress of a student. However, it can also be concluded

that students suffer from pressure because of trying to cope with

financial stress.
 4.

Recommendations

On the basis of the aforementioned findings and conclusions, the following

recommendations were

drawn:

recommendations were drawn:

Students. Apply for educational assistance from government. They can also

try to earn by using their

skills such as tutoring and getting commissioned artworks however, they shouldn’t

force themselves to earn if they cannot manage to multitask.

According to Ward (2019), students who work struggle mentally and

physically because of trying to

balance work and school life. Additionally, looking at the answers of respondents at

the questionnaire given to them, will show that working students find it hard to do

their school activities on time, due to having the need to work in order to help earn

for their family.

Family. Since majority of the students stated that coming from a low-income

family causes their

financial problems, it is recommended for families to practice proper budgeting and

seek for additional income. Also, they should check on their children’s health and

help them get through school life.

Local Government Units. LGUs should increase scholarship offerings for

students and provide

accessible educational assistance for all students. They should also give job

opportunities to low-income families. Moreover, seminar should be done to increase

awareness about financial management and mental health intervention should be

created to help struggling people in Paranaque regardless of their age.

Future Researchers. Researcher who would want to study the same topic

should expand the

sampling. They could try to gather data from different schools and more strands to

test more the accuracy of

the results.
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