Chapter 1

INTRODUCTION and BACKGROUND OF THE STUDY

Throughout the years, the problem about money is still a hindrance in

whatever the people are doing. It is a non-stop dilemma which is the whole society
are experiencing then and now, especially those who are not luckily born with a gold
spoon in the mouth. No one cannot change the fact that money is one of the most
important thing in our lives aside from food, shelter, love, and of course faith. It is
one of the factors that makes our life more easier and is keeping us to face the world
confidently.
That is why it is indeed, a big challenge for those students who are struggling
from a financial dilemma, most importantly in sustaining their education fees. Due to
the short coming of money, most of the students who are facing this problem affects
them by not being capable enough to buy projects or school requirements. It can
also made them stressed that can lead to not focusing on their studies anymore.
Some of the students also can’t make sure to pay their tuition fees and because of
too much stress and worry about it, they tend to lost their motivation and think on
quitting school already.
But despite of this hardships in their lives, there are still some students who
are thinking of ways on how to lessen their difficulties in financial problem. One of
those ways is engaging in a small business or what we called part-time jobs to help
their parents or family to support their studies. Unfortunately, while there are
students who are working so hard just to cope up with this problem, there are also
some of the students that despite of the financial absence, they are still continue on
spending their money to useless things instead of saving it for future purposes. And
it’s sad to know the truth that most of the students in this modern world, are not
matured enough in handling finances and do not have self-discipline in budgeting
and spending their money.
One research has shown that adult behavior, including financial behavior, is
learned through socialization. Social learning and consumer socialization
experienced by children brought up in different cultures can be expected to be
different; therefore, it shapes the children’s beliefs and behavior differently. Moschis
(1985) concluded that parents may be instrumental in teaching general, as well as
specific, rational orientation regarding consumption. Parents may also emphasize
normative consumer skills while interacting with their children. In an earlier study,
parents influenced both economic and social motivation for consumption among
adolescents. Hira (1997) summarized that today’s children are much more
independent and are growing up with more control over their lives than in the past.
Students in Hira’s study had twice as many credit cards, generally obtained by the
age of 17, than the total random sample. The same study revealed that a much
higher proportion of students rather than non-students reported being involved in
abnormal buying behaviors.

According to Friese and Koenig (1993), they found a positive relationship

between variables of family discord and compulsive and impulsive buying behaviors.
Respondents in their study were using buying to escape from problems and to
achieve positive feelings about themselves. Hira (1997) supported this finding
indicating that compulsive behavior is associated with unpleasant childhood
experiences such as divorce, death, withdrawal of love, suppression of expressed
feeling, high expectation, and punishment. Family background definitely has an
impact on the lives of compulsive spenders. Financial behavior of college students is
learned through the socialization process. What the adolescent observes and learns
during childhood influences how he or she will behave as an adult. Data indicates
that the greater the level of parental addictive behaviors, the higher the subjects’
levels of compulsive behavior (Friese and Koenig, 1993).
With the above premises, there is really a need to pursue this study, not only
to find ways in overcoming financial dilemma, but also for the researchers to give
and share knowledge on how to change students attitude when it comes in
overspending and misusing their money.
As researchers, they cannot presume that these factors being mentioned is
the very reason of the students difficulties in not having financial management.
Thus, enliven by a fiery spirit, the researchers want to give a crystal clear cut
statement by conducting a study to deepen the knowledge about the issues that
students encountered, and to identify its roots and causes.

SIGNIFICANCE OF THE STUDY

This study can enhance the future development and betterment of those
people in the society who are experiencing this kind of dilemma. The common
benefactors of this study are those students who are suffering in their studies
because of not having the capability to sustain their daily needs. It can help them to
be aware and knowledgeable enough when it comes to financial management
especially in conquering its difficulties. This paper can also be useful to the parents
and families who supports their children at all costs in their education. It also serves
as an eye opener to those students and members of the community to become wise
and responsible in handling their money.
Moreover, this research will be useful in determining the causes of having
financial problems, how does it affect the students on their emotionally, mentally, and
socially aspects, and what are the possible and alternative ways on conquering and
overcoming this dilemma.
 So that in the end, the students and the people who are part of the society will
have the knowledge, awareness, discipline, and liability on conducting and handling
poor financial management that leads to pecuniary adversity.

STATEMENT OF THE PROBLEM

The main purpose of this study is to determine the ways of all the students of
Senior High School on conquering the financial dilemma and difficulties in their
studies.
Precisely, it will challenge them to seek and quest answers in the following
questions:
a.) What is the financial dilemma and why does the students in Senior High
School are experiencing it?
b.) How can this problem affects the students in their school performances
and behavior as a person?
c.) Is there any actions about this problem are the government are making for
the sake of those unfortunate students?
d.) What are the possible and alternative ways of the students in conquering
this kind of difficulty in life.
e.) What is the significance of having your money well-spent and financial
management?

At the end of this study, those students in Senior High School and the people
in the community who are having financial problems in their studies, will definitely
gain knowledge on how important it is to be responsible on spending their money
and will help them develop their future preferences when it comes to Financial
Management.

SCOPE AND DELIMITATION

The coverage of this study is all about Financial Dilemma, what is its causes
and effects, and determining the feasible ways on how to conquer this problem.
Furthermore, it encompasses the views and opinions of the selected Senior
High School students in St. Mary's College of Tagum Inc,. about in not having
financial management and spending their money wisely. It also includes what is the
government actions and programs that they made to solve this kind of problem.
 In addition, due to the limited questionnaire that the researchers conducted,
there are some parameters that they barely surveyed; however if there are some
extent of the research, this is but an elaboration in connection to the problem being
distinguished.
With the above citation, it digs deeper to the experiences of the students
facing the different challenges they encountered with the problem.