TABLE OF CONTENTS

Page
Title Page i
Approval Sheet ii
Abstract iii
Table of Contents
CHAPTER 1: THE PROBLEM AND ITS BACKGROUND
1.1 Introduction 1
1.2 Research Objectives 2
1.3 Significance of the Study 2
1.4 Scope and Delimitation 3
1.5 Operational Definition of Terms 4
CHAPTER 2: REVIEW OF RELATED LITERATURE
2.1 Literature Review (Local/Foreign Studies) 5
2.2 Theoretical Framework 7
2.3 Conceptual Framework 8
2.4 Research Hypotheses 9
CHAPTER 3: RESEARCH METHODOLOGY
3.1 Research Design 10
3.2 Research Locale 10
3.3 Population and Sampling 10
3.4 Research Instruments and Techniques 11
3.5 Data Gathering Procedure 11
3.6 Data Analysis Procedure 12
3.7 Ethical Consideration 12
CHAPTER 4. RESULTS AND DISCUSSION 13
CHAPTER 5. SUMMARY OF FINDINGS, CONCLUSIONS AND 18
RECOMMENDATIONS
REFERENCES 21
APPENDICES
 CHAPTER 1
THE PROBLEM AND ITS BACKGROUND

1.1 INTRODUCTION

Money, in the world of business, is a form or medium of exchange for goods and
services, and could also be a symbolism for wealth, and financial and social status of either an
individual or group of individuals. It has somehow become a necessity in a daily basis
perspective of any individual. Money is anything of value that serves as a generally accepted
medium of financial exchange, legal tender for repayment of debt, standard of value, unit of
accounting measure and means to save or store purchasing power (businessdictionary.com,
2018).

An individual works, for instance, a professional, in a way that he is maximizing and not
limiting himself to do his profession in exchange for money and sometimes even incentives, and
this money, earned by anyone, is used for paying everyday necessities in a form of intangible or
tangible, varies on scenarios, or even personal preferences in order to live and survive. It is used
to sustain and satisfy people’s needs and wants that is payable.

Financing or financial management is merely the main context and concept of budgeting.
People are aware of the importance of this in terms of everyday expenditures on how to utilize
money in an efficient and productive manner. According to Cabrera (2013), financial
management, also referred as managerial finance, corporate finance, and business finance, is a
decision making process concerned with planning, acquiring and utilizing funds in a manner that
achieves the firm’s desired goals.

Due to the passage of time, an individual’s responsibility is compiling itself because of

variations happening in the society one is belonging to. In students’ case, they do not have a
source of income that made it hard for them to manage their allowance well. There are projects,
transportation expenses, and expenses allocated for their food that made it more challenging for
them to keep money for savings.

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 Upon realization of this, the researchers therefore aim to know how Senior High School
students manage their allowances. The researchers plan to conduct a survey to different Senior
High School students of Jose Rizal University. The researchers are eyeing to engage in a
research which will talk over with the effectiveness of allowance management of students of Jose
Rizal University and the different degree of assumptions, preference, and perceptions the
respondents have in the said topic.

1.2 RESEARCH OBJECTIVES

The objective of this research is to determine if the amount of allowance affects the
lifestyle, spending behavior and savings of Senior High School student of Jose Rizal University.
The researchers aim to assess the individual saving pattern of different students from Jose Rizal
University. Moreover, the research itself measures the effectiveness of how a student uses the
method of financing to manage their own expenses and have savings. The researchers want to
provide understanding on how to manage money properly because the expenditures of students
nowadays are greater than the savings that a student should make and have.

1.3 SIGNIFICANCE OF THE STUDY

The findings and other valuable results the study may possess in the completion will
redound to the benefit of different socio – demographic factors or beneficiaries that are evidently
affected in numerous ways ending to a much developed and progressive community and society.

 Students. The results of the study will provide students with numerous information
adequate for the self – development and progressive approach of the students in learning
the essence and importance of allowance management given the circumstance of having
unexpected expenses on a daily – basis, and having the initiative to set and plan for any
unexpected expenses that may occur.

 Parents. Like the students, the parents and legal guardians of the students will have a
much precise perspective on what will be the expected expense frequency of the students

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 adjusting the regular allowance to a much higher yet efficient manner, and also have
further understanding of what the students are currently facing, specifically numerous
circumstances that can occur in any given circumstance.

 Jose Rizal University. The university will benefit much from the study as the University
is known to be an affordable institution equipped with high-quality education. For that,
the Jose Rizal University would be the right place for students to save and invest their
cash at the same time.

 Banking Institutions. The findings and recommendations of the study will highly benefit
banking institutions as they are the institutions that the students would be finding in order
for the students to keep their money safe with small annual earnings per year.

1.4 SCOPE AND DELIMITATIONS

This research study would focus on how students’ way of life will influence the amount of
their daily allowance as well as how they are going to oversee it and how they will control their
spending behavior. The research study is limited to the Senior High School Students of Jose
Rizal University as perceived by fifty students enrolled from different strands. The method that
the researchers will use in collecting information will be through survey. The study will be used
to determine how the Senior High School students’ will manage their allotted allowance well.
The research would focus mainly on the behavior of students in managing their allotted
allowance and using it as basis of recommending effective way of managing allowance that this
research presents.

In the research, there are four variables that are present. The research states that the
amount of allowance is the manipulating variable for it is the controllable data the researcher
could either change or leave out. The amount of allowance affects the three dependent variables.
First would be savings wherein the students learn how to manage their allowances. Second is the
spending behavior as the students learn on how they could spend the allowance given to them.

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Last would be the lifestyle as it tackles on the students’ daily habits involving money within the
process of enjoying such habits.

The research is delimited only in individual's savings specifically student's, the researcher
didn't include presenting effective ways on controlling spending behavior and, managing
behavior of a group. Since nowadays, students are lacking proper allowance management, and
also spend most of the time in and out of academic purposes. The researchers chose the students
as valuable participants of this research for they may produce effective data.

1.5 OPERATIONAL DEFINITION OF TERMS

Allowance - an amount of money that is given to someone regularly or for a specific purpose.
Budget - an official statement from a government about how much it plans to spend during a
particular period of time and how it will pay for the expenses.
Expenditure - an amount of money that is spent on something.
Lifestyle – a way of living of individuals, families and societies.
Money - generally accepted as a medium of exchange, a measure of value, or a means of
payment.
Spending Behavior – It is the act of disbursing money in response to an action, environment, or
person in the satisfaction of needs and wants.
Savings – an amount of something that is not used or used.

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 CHAPTER 2
REVIEW OF RELATED LITERATURE

The previous chapter discusses the conceptual frame work of the present research
problem and primary matters regarding the research. Moreover, for any specific research to
comply with the needed spaces in the development of the study, the researchers must thoroughly
and efficiently be familiar with any related previous researches and theories to support the
concreteness of the study. To assure that familiarity a review of related literature is done. It
allows the researchers to assess and know the adequate amount work done in the concerned area.
The clarity of the problem is possible with the thorough understanding of the knowledge
generation in the area of research. It provides the source for the hypotheses. This chapter
provides some insights regarding strong points and ideologies of previous studies. It enables to
improve the investigation and process of the study.

2.1 LITERATURE REVIEW

Lifestyle

According to Knudsen (2013), giving an allowance to children is not an entitlement or a

salary rather it is a way of giving your child proper discipline on how they can manage their
daily allowance for their needs. Having an allowance doesn’t mean that you just have to spend it
all to things that you just want, an allowance is money that you need to budget in order to satisfy
your needs and wants with a limited budget. When a child starts from a lower amount of
allowance, the child develops a sense of value with his or her allowance resulting in harnessing a
skill of allowance management.

Meanwhile, in the Philippines, according to Ferreira (June 2017), a personal finance

consultant, suggests that practicing of giving weekly allowances may be a better choice not just
for the family budget but the children as well. A weekly allowance lowers the chances of giving
the child different daily amounts. Furthermore, it exposes the child to financial management.
Instead of the usual, children have to save twenty percent of what is given to them.

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 Furthermore, Duplito (2013) argues that a daily allowance takes effort and discipline, and
may require small changes in an individuals’ daily routine. Duplito (2013) recommended a
practice of tracking down weekly expenses on a notebook to monitor the items bought, cost per
item, and time it was purchased.

Spending Behavior

Bhardwa (2017) reports that a survey of more than 2,000 UK university students found
that 15 per cent feel that managing finances is the most stressful aspect of college life. The stress
of managing finances is on par with their examinations. Research shows that students really have
a hard time managing finances because managing finances may include reviewing, planning, and
consuming the right outputs. The stress between examinations and allowance management could
add up to a 30 per cent which may affect the students’ lifestyle and emotion.

Meanwhile, according to a 2015 social learning theory, spending behavior can be viewed
as a learned behavior often transmitted by parents and other influential individuals, and is,
therefore, predominantly, one that is passed from generation to generation. Spending behavior
and their patterns have been conceived as existing along a continuum running between two
poles. One pole represents the "holding on" behaviors or a preoccupation with the acquisition
and hoarding of money; the other pole, the obsessive spending behavior.

Consequently, Villanueva (2017) point out that Asian students are willing to spend higher
expenses than other ethnic groups inside the university. This may lead to an overestimation on
future earnings and resulting to more financial issues to deal with at a later time or in the near
future. Asian students, like Filipinos, are assumed by many to be costly as most students are seen
in fast food chains rather than bringing their own packed lunch in school. Also, students tend to
rely on load expenses for personal wants for entertainment and emergency purposes. Moreover,
other ethnic groups or races tend to save more like the black people that save significantly the
most.

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 Savings

Mariquit (2015) explains that an individual must figure out first what matters the most,
then stop spending on the things that are not important. Mariquit emphasizes on the mentality of
knowing what is the most important and how will it benefit you as an individual. Taking the time
to set financial priorities is the first step to have a healthy savings. Just being aware of your
priorities and using your money accordingly, can save you a great deal of money over time.

Meanwhile, in the Philippines, Villafuerte (July 2014) emphasized that balancing one’s
budget and expenses is a must, especially when saving to invest. It is a task for everyone who has
an income, whether it comes from one’s salary or allowance for school. Failing to manage your
finances would make your budget out of proportion to your expenses, leading to negative cash
flow and even debts.

Subsequently, according to a Bangko Sentral ng Pilipinas survey in 2014, only 1 in 4

Filipino households have savings. It's been argued that the Filipinos’ fatalistic or easy-go-lucky
attitude prevent many from getting into the savings habit. There is also the lack of discipline and
commitment to stay on the savings path. Most of the Filipinos lacks of literacy about savings and
money management that results to having no allocation for savings for their future uses.

2.2 THEORETICAL FRAMEWORK

This research is in line with the previous study of Galperti (2016) and his theory in
Personal Budgeting. The researchers believe the theory makes the current study more concrete
and accurate in terms of context and content. Allowance management among the respondents of
the research is a broad demographic to consider but the researchers urged to have attained the
theory adequate to fulfill the need of concreteness and completeness that the study needs.
Galperti stated in his Theory of Personal Budgeting, “that the use of good-specific budgets
depends on the combination of a demand for commitment and the demand for flexibility
resulting from uncertainty about intratemporal trade-offs between goods.” In addition the said
ideology explains the subtle mechanism which renders budgets useful commitments, their

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interaction with minimum-savings rules, and how budgeting depends on the intensity of self-
control problems. The variables of this study suits the explanation of the theory wherein the
allowance management, spending behavior, and lifestyle of the respondents vary on myriad
number of variations and context in accordance with the amount allowance each respondent have
on a timely basis. The study circulates and suits the concept of the theory making a credible
foundation in the progression and development of the research.

2.3 CONCEPTUAL FRAMEWORK

Figure 2.3 The Relationship of Amount of Allowance,

Lifestyle, Spending Behavior and Savings

Illustrated in figure 2.3, the relationship of amount of allowance affects the lifestyle,
spending behavior, and savings of the respondents that includes these independent and dependent
variables, respectively. The factors provided for the dependent variables are students' lifestyle,
savings, and spending behavior. Everything mentioned variables are affected by the independent
variable which is the amount of allowance. This affects the students' lifestyle in different aspects
such as health condition, for example, a student will not eat satisfyingly because of insufficient
or lack of allowance. In mental behavior and decision making, in line with this aspect, students
will have their decision for them to save or where to allocate their allowance or money. It will
also affect their savings or allowance management. For example, the students will have their way
to save their money as much as possible. In that case, this will develop a sense of discipline and
responsibility in regards to their savings. Lastly, the amount of allowance affects the spending

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behavior specially the students who has a big amount of expenses in line with their strand. The
students should know what to spend on, when to spend out, and where to allocate the money that
they have.

2.4 RESEARCH HYPOTHESES

Based on the aforementioned conceptual framework, the researchers have these

hypotheses:

 Ho - There is no significant relationship between amount of allowance and students'

lifestyle.
 H1 - There is a significant relationship between amount of allowance and students'
lifestyle.
 Ho - There is no significant relationship between amount of allowance and savings.
 H1 - There is a significant relationship between amount of allowance and savings.
 Ho - There is no significant relationship between amount of allowance and spending
behavior.
 H1 - There is a significant relationship between amount of allowance and spending
behavior.

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 CHAPTER 3
RESEARCH METHODOLOGY

Presented in this chapter are the methods and procedures that will be used in making this
research. It will give information about the device which is useful in the data gathering and the
statistical tools that will be used for the analysis and interpretation of the data that will be
gathered.

3.1 Research Design

This research will be conducted utilizing a correlational, survey research design and is
chosen to investigate the relationship of the amount of allowance affecting the lifestyle, spending
behavior and savings of senior high school students in Jose Rizal University. The researchers
will utilize a survey design to collect the quantitative data for this study. This will be
accomplished through the use of the Likert-scale survey. The methodology will be engaging for
a statistical analysis of the data.

3.2 Research Locale

The study will be conducted at Jose Rizal University. Respondents will be questioned
through the use of survey questionnaires in their classrooms and other adequate facilities around
the campus. The researchers will gather respondents in various strands in the Senior High School
division. The researchers gather adequate pieces of information from respondents that
correspond to the effectiveness of allowance management with their different degree of
assumptions, preference, and perceptions.

3.3 Population and Sampling

The researchers will utilize a survey design to collect the quantitative data for this study.
Correlational statistical analysis will be performed on the sample groups to determine the rate of
relationship of the variables of the study. The researchers will then conduct surveys to one
hundred (100) students of Jose Rizal University from various strands from both Academic and
Technical-Vocational-Livelihood track.

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 A purposive sampling, which belongs to the category of non-probability sampling
techniques, will be used for selecting the participants in this study as the researchers chose the
population based on their characteristics. The sampling frame will be a total of seventy four (74)
students from Accountancy, Business and Management strand, Science, Technology,
Engineering and Mathematics strand, and Humanities and Social Sciences strand, and a total of
twenty six (26) students from Technical-Vocational-Livelihood track in Senior High School
division from Jose Rizal University who are eligible of having such allowances and savings

3.4 Research Instruments and Techniques

The researchers will design a self-administered questionnaire for the data collection
process to get quantitative data. The survey will be conducted to the Senior High School students
of Jose Rizal University. The survey questionnaires aim at eliciting relevant information
concerning the relationship of the amount of allowance affecting the lifestyle, spending behavior
and savings of the respondents. There are five questions that will be designed by the researchers
for each variable namely lifestyle, spending behavior and savings that will be used in the study.

The survey will be divided into two sections. The first section will be a survey about the
demographics of the respondents. The second section will be an instrument designed in a
modified Likert scale, on a four-point scale that will measure the preferences of the respondents
regarding with the particular statements, ranging from “strongly agree” (SA), through “agree”
(A), “disagree” (D) to “strongly disagree” (SD). Subjects were then instructed to respond to their
degree of agreement with the statements contained in the instrument.

3.5 Data Gathering Procedure

The researchers will go and conduct a survey to the school of their chosen respondents.
To ensure having a feasible and unbiased data, the researcher will personally distribute the
survey questionnaires to the respondents who have the knowledge and familiarity with the
research topic. To avoid conflicts with the credibility of the data, the questionnaires will be
scored, tallied and tabulated by the researchers themselves.

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3.6 Data Analysis Procedure

The study will utilize first hand data which will come from the chosen respondents who
will answer the survey questionnaires that will be given to them. In order to analyze the data that
will be gathered from the survey, the weighted mean for each item will be computed. The data
will be described in frequencies and percentage; and its magnitude will be categorized and
compared.

A data analysis of descriptive analysis will be used in order to determine the mean and
standard deviation of each of the respondent’s answer to the corresponding questions. Moreover,
after the mean and standard deviation are determined, a correlational data analysis is then
formulated to analyze the relationship between the variables ranging from strong negative
correlation, no correlation, to strong positive correlation, Lastly, a regression data analysis is
considered to determine whether the null hypothesis is to be rejected or accepted, and the
alternative to be accepted or rejected.

3.7 Ethical Consideration

As this study will utilize human participants and investigate on personal savings,
expenditure and lifestyle, there will be certain issues that will be addressed. The consideration of
these issues is necessary for the purpose of ensuring the privacy as well as the security of the
participants. These issues will be identified in advance so as prevent future problems that can
arise during the research process. Among the significant issues that will be considered included
consent, confidentiality and data protection.

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 Chapter 4

Results and Discussion

Table 4.1 Respondents’ Profile (n = 100)

Frequency Percentage Mean

Gender M 36 36%
F 64 64%
Total 100 100%
Strand STEM 25 25%
ABM 24 24%
HUMSS 25 25%
CSS 17 17%
TG 8 8%
AAD 1 1%
Total 100 100%
Age 15 1 1%
16 20 20%
17 46 46%
18 32 32%
19 1 1%
Total 100 100% 17.12

Table 4.1 illustrates the respondents’ profile on their gender, strand, and age with their
corresponding frequency, mean, percentage, and mean. Both the STEM and HUMSS strand were
the highest number of respondents to participate in answering the survey questionnaires. As for
AAD, only one student participated in the study.

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Table 4.2 Lifestyle of Students (n =100)

Variable Statement Mean SD Interpretation

1 Allowance is enough for expenses 3.05 0.76 Important

Going home immediately after school

2 2.78 0.93 Important
ends
Going to malls and/or food stalls after
3 2.44 0.9 Important
school ends

4 Love shopping 2.65 0.9 Important

Money is for spending, not for holding

5 2.61 0.85 Important
on to

Composite Mean and SD 2.71 0.87 Important

Table 4.2 illustrates the statements from the variable, lifestyle. The respondents sees that
allowance being enough for the expenses is important (Mean = 3.05, SD = 0.76). On the other
hand, going to malls and/or food stalls after school ends shows the least rate of importance
(Mean = 2.44, SD = 0.9). This indicates that most of the respondents are favorable that the
allowances they are receiving are adequate enough to suffice their daily or weekly expenses
despite unexpected phenomena that can occur. It also implies that students are highly aware that
their expenses must be planned and has a backup plan in which that there is a need for other
funds. On the other hand, since the demand for more money and/or funds is highly needed by the
students, going to malls and/or food stalls after school is the least thing the respondents may
engage in since they are aware that they have limited amount of resources and they are trying to
spend their money efficiently and effectively.

Table 4.3 illustrates the statements from the variable, spending behaviour. The
respondents have garnered spending allowance for school related manners with the highest rate
of importance (Mean = 3.06, SD = 0.74). In contrast, spending more on wants than need gathered
the least importance rate (Mean = 2.59, SD = 0.86). It is highly observable that the respondents

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are more likely to spend their allowances on school related matters such as the following: group
activities, requirements, school supplies etc. This is evident due to the need to suffice the needs
of the students in order for them to excel at their highest potentiality keeping up with innovative
approaches laid down by the curriculum. In retrospect, the respondents are least to do spending
their allowances on personal wants than needs, maybe due to the social status of the students and
the influence of their families because of economic factors that should be considered such as
inflation and tax. Students are more into spending their allowances wisely to ensure that they can
easily adapt and survive a day with sufficient finances.

Table 4.3 Spending Behaviour of Students (n = 100)

Variable Statement Mean SD Interpretation

1 Managing daily expenditures 3.02 0.77 Important

Spending allowance for school related

2 3.06 0.74 Important
matters

3 Spending more than saving 2.87 0.92 Important

4 Spending more on wants than needs 2.59 0.86 Important

Spending money after creating a

5 2.83 0.78 Important
spending plan

Composite Mean and SD 2.87 0.81 Important

Table 4.4 illustrates the statements from the variable, savings. The respondents had a
highest rate of importance on being interested in finding different ways on saving money (Mean
= 3.37, SD = 0.76). On the other hand, saving money is optional reveals the least rate of
importance from the respondents (Mean = 2.64, SD = 0.85) The data serves as proof that
students today are more interested in saving money for personal use and also for investing.
Knowing that people can easily gain access to numerous financial institutions that can aid them
to save money, a lot of students are now engaging in saving more than spending maybe due to
preparation for their tertiary level of education. In addition, students also want to ensure that they
are financially stable for years to come so that they can manage and jumpstart their adulthoods

15
correctly. On the other hand, least number of students say that saving optional, maybe because of
having no money to save or they have already engage in other ways on how they can handle their
finances.

Table 4.4 Savings of Students (n = 100)

Variable Statement Mean SD Interpretation

1 Saving money is optional 2.64 0.85 Important

Difficulty of saving money differs

2 3.33 0.67 Important
from every person

3 Saving of money regularly 2.91 0.85 Important

4 Possessing a personal savings account 2.76 0.99 Important

Interested in finding different ways on

5 3.37 0.76 Important
saving money

Composite Mean and SD 3.00 0.82 Important

Table 4.5 Correlation of Variables

Lifestyle Spending Behaviour Savings

Lifestyle 1
Spending Behaviour 0.48 1
Savings 0.21 0.38 1
Daily Allowance 0.13 0.12 -0.21

Table 4.5 shows the correlation indicating that there is a positive relationship between the
variables lifestyle, spending behaviour, and savings. While the daily allowance correlating to
savings has a negative correlation, implying that the higher the amount allowance of the student
would be the lower the savings they could accommodate, while the lower the amount of

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allowance of the student would be the higher the savings they could accommodate. It is because
when students have more allowance, then they spend more of their money. On the other hand,
when students have lesser money, they save more due to the fact that students are already used to
a low amount of money and tend to want to have more money due to the less amount of their
allowance.

Table 4.6 Regression of Variables

Variables P-Value Implication

Lifestyle 0.18 Accept Null
Spending Behaviour 0.23 Accept Null
Savings 0.03 Accept Alternative

Table 4.6 illustrates the variables’ corresponding calculated probability (p-value) with the
use of an analysis of regression. Both the lifestyle and spending behavior has gathered a P-Value
more than the margin of error, which is 0.05. Moreover, the null hypothesis on both variables
relating to the amount of allowance is accepted, implying that both variables have no significant
relationship with the amount of allowance. On the other hand, the variable savings has achieved
a value lower than the margin of error, which means that the alternative hypothesis would be
accepted as it has a significant relationship with the amount of allowance of students.

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 Chapter 5

Summary of Findings, Conclusion, and Recommendation

Summary

The research used several data analysis tools namely Anova: Two-Factor without
Replication, Descriptive Statistics, Correlation, and Regression. With all the data analysis tools,
the research was able to analyze the gathered data to show the results and implications.

Through out the research, the profile of the respondents show that female was far
superior to male in participating in the research. As per strand, both STEM and HUMSS were on
par with twenty-five students participating in each academic strand. On the contrary, the CSS
strand had the most number of students participating on the tech-voc strand. Moreover, all of the
respondents’ average age participating in the research was 17.2 or 17 years old.

The illustrations of each table was able to compare and contrast the respondents’ rate of
importance through analyzing the mean of each and every statement and identifying the
statements of each variable from the most important and agreed item to the least important and
agreed item.

At the end of analyzing the research, lifestyle and spending behavior does not affect the
student’s amount of allowance despite of having either an incredible or dull lifestyle and
spending behavior towards expenses and daily routines. Moreover, the research implicates that
the variable savings had an accepted alternative hypothesis wherein it has a significant
relationship with the amount of allowance of students implicating that the amount of allowance
varies on how much students save in their savings or rather pockets. On the other hand, both
lifestyle and student behavior had an accepted null hypothesis causing it not to have a significant
relationship to the students’ allowance.

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 Conclusion

Based on the results gathered, the research concludes that the students, in general, are
satisfied on their allowances given to them. Lifestyle, spending behaviour, and savings of
students revealed credible results as it shows how each of the variables affect the management of
the amount of allowance to these variables.

As for analyzing the data per respondent, each and every student has a different
perspective and approach on how they could manage their allowances through limited resources
with unlimited wants though lifestyle, spending behaviours, and savings. It was also revealed in
the research that the difficulty of saving money differs from every person was the second highest
satisfaction next to interests in finding different ways on saving money. It strongly implies that,
all students, the greatest factor in managing the allowance would be the lifestyle of the student
regardless of its amount of allowance owing to the fact that students with greater amount of
allowance have produced nearly positive results in lifestyle and negative in savings.

Overall, the study concludes that there is no relationship between amount of allowance
and lifestyle, in general, of students. But rather, savings has a significant relationship with the
amount of allowance as it measures how much can students save, depending it on how large the
amount of their allowance is. Furthermore, the research produced dependable and honest results
from students, thus resulting to a rating of importance of students relating their amount of
allowance aligned to their savings.

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 Recommendation

The study recommends students to engage more on saving rather than spending their
allowances. As much as possible, the study wants to encourage students to seek professionals on
how to save such allowances and how to make their savings grow larger financially. Moreover,
as fellow researchers, students should also research on different techniques on how to manage
such allowances without affecting their lifestyle.

The researchers suggest limiting such spending behaviours for it may cause the students
to suffer from uncontrollably spending too much until they could not save anymore in the future.
Furthermore, researchers encourage students to start opening up a savings account for the bank
gives an annual interest to the savings that you placed. It may be a small interest, but at least the
savings that the student placed in the bank would grow passively per year.

As for the recommendation on the study, the researchers would like to recommend to the
further researchers, who would be citing the study, to increase the number of respondents of the
study, and also the future researchers would provide more questions to further validate and
produce more credible data.

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