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A CORRELATIONAL STUDY ABOUT THE MONTHLY ALLOWANCES TO

THE DAILY EXPENSES OF THE ACCOUNTANCY AND BUSINESS


MANAGEMENT GRADE 11 STUDENTS OF STI
ACADEMIC CENTER OF LAS PIÑAS

A Research Study Presented to


The Senior High School Faculty of
STI College Las Piñas

In Partial Fulfillment of the


Requirements in Practical Research 2

By:

Alngog, Marie Bell


Baylon, Mikee
Beatingo, Theresa
Bondones, Neliza
Dalogdog, Diane Hazel
Españo, Mia Grace
Milo, Bryan Andrew
Miranda, GeeneMeryll
Nasam, Joyce
Pagunuran Samantha Cheyenne Gail

October 2018
CHAPTER 1
THE PROBLEM AND ITS BACKGROUND

This chapter will show the problem and its background of the study,
statement of the problem, hypothesis, significance of the study, scope and limitations, and
definition of terms. This chapter will help the readers to know what is the content of this
research, the flow of the study, what will be the researchers wants to know on this study,
the assumptions of the researchers on this study, who will get a benefit on this study,
where will be the study conducted, and the meaning of the terms that are not common to
the eyes of the readers.

INTRODUCTION

Every student learns to value money ones they received their own allowances.
The amount of money that parents give to their children is a money to spend on what they
want which differ from family needs. Allowances can give the children a chance to
experience the things that they want to do. The students may spend all their allowances
soon after they received it. If they do this, they will learn the hard way that spending
money must be done within budget. So that, young people need to understand that their
every cost that they spent is important. “You have to cut cost and plan for the future’’,
quoted by VOA Learning English. They tackled about "How an Allowance Helps
Children Learn About Money", it says that saving helps children to understand that costly
goals require sacrifice. It means that young people need to be wise in spending money.
The students should apply it to their selves in order to save money which it is a way to
make a savings and investing for their own future sake.

Barbara Coloroso quoted that "what is important for kids to learn is that no matter
how much money they have earn, win, or inherit, they need to know how to spend it, how
to save it, and how to give it to others in need. This is what handling money is about and
this is why we give kids an allowance". This quotation portrays that money should be
handle in a good process of saving and spending. Saving and spending is like the inflow
and out flow of the cash in the business where the holders will not have a bankruptcy
once he/she take good care for his/her own money. Money should be spent for good
reasons in order to prevent regretting soon.

Benjamin Franklin states that people should beware of little expenses because a
small leak will sink a great ship. A good example for this thing is buying a candy. A
student bought a one piece of candy that cost one peso. Since the student was starting to
crave for it, he/she will buy again and again until he/she spends 50 pesos for it. This
situation wants to show that people can buy expensive things unless it is worth using it
and it cannot cause you to repeatedly purchasing it. For example, a student bought a
mega pack of milk. This milk will be used for two months since it is not easily to
consume in one day

An allowance is a basis for buying needs and wants in life. Allowances help a
person to conduct what he/she should spend for. The famous thing that the student wants
every day is their allowance. For them, allowances can help them to survive a day since
many things can buy on it. Especially, allowance ensures them that they can go home or
hang out with friends after schooling.

An expense is an amount of money that may be spent regularly to pay for the
things you want and need to buy in life. It is the reason why the allowance of a person
decreases. Expense is one of the tragedies in life of a person especially to the person who
wants to save money. Also, it is unavoidable since it was included in a daily lifestyle of a
person.

Budgeting daily allowances is a precise plan. It enables the students to know the
amount of money that they need to spend. They will also know the expected income that
they will earn. Budgeting promotes the economy and efficiency because it controls the
expenses. It makes you aware of what is going on with your money. It does not stop you
from enjoying stuff it ensures that you enjoy the stuff when you want it. Being an ABM
student, you should apply your knowledge in accounting on budgeting daily allowances.
STATEMENT OF THE PROBLEM

The researchers are determined to know if there is a significant relation between


students’ monthly allowances and their daily expenditures. Though knowing students’
expenditures helps the student deduce on how to handle the monthly allowances wisely.

 What is the possible range of allowance of a Grade 11 ABM Student?


 What are the main expenditures of the Grade 11 ABM Students?
 What is the relationship of monthly allowance and the daily expenses of Grade 11
ABM Students?

HYPOTHESIS

Null Hypothesis (Ho)

Independent Variable: Monthly Allowance

Dependent Variable: Effects to the daily expenses

Monthly allowances have no direct effect to the daily expenses of Grade 11


Accountancy and Business Management Students.
SIGNIFICANCE OF THE STUDY

The study deals with monthly allowance of Grade 11 ABM students of STI
Academic Center Las Piñas. It seeks to show and answer how and where the respondents
maximize their allotted allowances. Considering that money is an essential to our
everyday lives because it is accepted as a medium of exchange, this study is significant
for it will benefit the following:

•Accountancy, Business and Management Students

The study is beneficial for ABM Students to help them assess the
importance of spending, to help them realize the value of it so that they could
spend their money wisely.

•Parents

This study can be beneficial to the parents because it shows how and
where the ABM students are spending their money and to be informed about the
accurate amount of money they can give to their children to use for they financial
needs concerning their chosen track.

•Non-ABM Students

The study can also be beneficial to the other students because the
relationship between monthly allowances and expenses is the foremost of the
study that can be applied not only for ABM students but also to the other students.

•Teachers

The study informs the teachers about how the requirements of the course
affect the monthly allowance of the students. The study apprises the teachers to
consider the students’ monthly allowances when giving requirements in school.

•Future Researchers

The study can be beneficial to the future researchers because it can be


used as their basis to their study about student’s allowances and expenses.
SCOPE AND LIMITATIONS

This research study was conducted only at the STI Academic Center of Las Piñas,
located in Alabang-Zapote road, Pamplona 3. The study focuses on the effects on the
daily expenses coming from the monthly allowances of the students. The respondents
of the study are the whole Grade 11 ABM (Accountancy and Business Management)
students of STI Academic Center Las Piñas Year 2018-2019 whose students are from
16-18 years of age. The researchers have planned to use survey-questionnaire to
collect some information from the students.

DEFINITION OF TERMS

Accountancy, Business and Management- focuses in concept of business

Allowance – A certain amount of money given by parent or guardian for the day.

Correlational – The relationship of daily expenses of the student to their monthly


allowances

Expense – The accumulation of money lost to an individual’s personal needs and


wants
CHAPTER 2

REVIEW OF RELATED LITERATURE

This chapter provides an overview of related literature and studies after


the in-depth search done by the researchers. This will also present the theoretical and
conceptual framework to fully understand the research to be done by the researchers.

INTERNATIONAL

Daily allowances can vary depending on the individual’s socio-economic


status, though some may think that they can manage their own money by not spending.
Some students only buy their necessities like food and water for the whole day at school
to further manage their daily allowance. Though some may ask how the expenses of the
students can vary depending on the amount of their weekly allowance.

From another article online from the Learning English Website (2012) stated that
the money children receive as an allowance depends on their family income and financial
status. It includes the time the money given, may it be a time when they are financially-
stabled or full of expenses. Allowances may be daily, weekly and monthly given to
children.

According to Lewis Mandell (2013), regular allowance to children may help them
know how to budget and create responsible decisions about money. It is not suggested to
give them a regular and unconditional allowance for it will let them be unaware of
savings, spending and credit. It is also suggested that parents must be involved in order
for the development of students’ beliefs and behaviours.

According to an article from Psychology Today entitles “Should You Give Your
Kids an Allowance?” (2013), allowances are powerful things. It lets children be aware of
how a simple decision regarding money will affect them. With this, parents are feeling a
bit of nervous excitement yet they think that school allowance allow their children to be
valuable and patient. But there would still be negative circumstances wherein children
may feel authorized holding on to the money given to them and might possess greed.
According to Jessica l. Knudsen, we gain good money management skills as we
go through life. It will be because of our successful and failed experiences in life. Giving
students allowance serves as the key for them to realize the true value and importance of
money. Also, budgeting is what they will learn as they handle their own allowances.

In the “What do students spend their money on?” article from the Save the student
website (2018), the average students’ monthly expenses are shown in diagram form. They
conducted survey to 2,219 respondents from the universities in UK. The result showed
that aside from rent (when studying away from home) expense for mobile phones bigger
slightly to their expense for stationery. Since these days, students spent their money by
socializing through internet rather than buying academic materials.

According to a research conducted by M.F. Sabri, M. MacDonald, J. Masud, L.


Paim, T.K. Hira, and M.A. Othman (2008). The bivariate analysis of financial behavior
and problems of Malaysian university students revealed that the students were using the
education fund for purposes other than for their academic expenses. Most of them were
uncertain about where money spent which they bought unnecessary things and lent
money to friends.

However, they skipped meals to save money. The multivariate analysis found that
childhood consumer experience, spending patterns, savings, and financial literacy were
the significant predictors of college student financial behavior and problems. Childhood
consumer experience had a positive effect while spending patterns had a negative effect.

In the comparative study about student budgeting and spending behaviors


Matthew Stollak, Amy Vandenberg, Kevin Steiner, and Jessica Richards from St. Norbert
College (2011), it is included that several factors such as age, personality traits, and
knowledge affects how students manage their money. Since students only have limited
source of income (from the money given by the parents) but have variety of expenses
such as transportation, food cost, school requirements, they manage their money
differently. In abroad, students use credit cards for their finances.

In a study conducted by Mathew Stollak, students face budgeting challenges.


Students allowance or budget for the day may vary depending on item changes. The item
changes greatly affect the students budgeting plan making it challenging for them to
budget their daily expenses.

The third measure of financial management practices was participants'


perceptions about particular practices. Respondents rated the degree to which statements
about practices were true of them including budgeting practices, comparing receipts,
buying on credit and working extra hours to compensate for insufficient finances. High
scores (out of 10) reflect a self-perception of good financial management practices. The
two lowest scores were for items measuring the tendency to budget and to compare
receipts from purchases to credit card bills. On the measure about budgeting, participants
recorded a mean of 6.53 with a standard deviation of 2.78. Participants reported a mean
of 4.33 and a standard deviation of 3.27 for a statement about comparing receipts. All
other statements garnered mean scores from 8.71 to 9.77 indicating overall positive
financial management practices among participants. These findings suggest that college
students tend not to budget their money or reconcile their credit card bills with their
actual expenditures. These findings are not surprising given that most participants were
18-23 years of age and may not have extensive experience budgeting and managing
finances. However, the responses suggest that college students are casual with certain
elements of their finances and do not manage their spending habits well. This lack of
financial management may lead to higher levels of debt if they live beyond a reasonable
budget for their income.

According to Jessica Murray’s survey, 3,167 students asked where all their money
goes which they find it pretty interesting. With an average monthly spend of £770, the
results reveal that the maintenance loan often falls short of covering students' living
expenses. So, if you want to budget your monthly expenses or just see how you spend,
compare it to the average student.

A dissertation conducted in Mahatma Gandhi University, Kottayam (2016)


determining the spending and saving habits of the students in Newman College
Thodupuzha. Their findings and conclusion show that the students spend more than they
save and that male students spend more on leisure, luxury and transportation while
females spend in the area of studies and tuition fees expenses.
From the introduction of a research entitled “Gender Differences in Saving and
Spending Behaviours of Thai Students”, people should remind the youth about how they
should consume every money they have wisely. This could be a big way for them to
accomplish a comfortable quality of life. With this, they could grow as individuals who
have proper spending habits. (Likitapiwat, Sereetrakul, &Wongveeravuti, 2013)

“Expected Income and Consumption Habits of Undergraduate Students” is a


senior study conducted by Brittani Edge (2014) which used a survey to breakdown how
and where undergraduate students are spending and saving money. At the end of the
study, Edge was able to draw a conclusion that students who expect to have or to make
more money in the future have high potential of spending more in the present. After all
the data collected, the population shows that price and quality are the factors considered
when purchasing some goods.

LOCAL

According to Studymoose.com (2016), allowance is the money that parents give


to their children in order to practice them on how to budget the money they have. In this
situation, the students would show to their parents that they are responsible and trusted
enough to have money on hands. But because of temptations, students cannot stop
themselves to buy everything they want and to hang out with friends to have fun.

According to ABS-CBN News (2013), the students are spending their allowances
more on mobile phone load, food, transportation, and on the things that they want to buy
for their selves. There are a lot of wise methods for students to lessen their expenses and
save more money as said by an expert. Duplito said that it takes time and effort
maximizing a daily allowance and it may need to have small changes in your daily
routine. He recommends bringing home cooked or prepared foods to their school instead
of buying at the canteen.

Journal & Economics (2011) says that many students spend more than the given
budget allocation given by parents and they spend beyond their means. Student youths
fork over money to buy CP loads, play computer games, buy cigarettes, luxury and
entertainment.(ABS-CBN News, 2011). According to the research of Bansil, Cuenca,
&Gantala (2014), some of the students aging from 16-20 years old were dependent to
their parents while some are dependent to their salaries. Researchers concluded that the
students have the capacity to prioritize where to spend their earned money in order to buy
their needs and wants in life.

According to PhilSTAR.com’s computation (2014), the daily allowance ranges


from P100 to P150 for students from outside of Manila excluding the transportation
expense while students studying in Manila get theirs raging from P150 to P250 specially
to those who study at exclusive schools like Ateneo De Manila Universty, DLSU and
other university schools. The standard allowance covers the expense for lunch, merienda,
and cost for school requirements (printing, photocopy, and buying stationery, etc.) Also,
a mother they interviewed said that one reason they find giving too much allowance risky
is that it may result to financial irresponsibility such as computer games or hanging out
with friends. Parents must be in great wonder and have question as to how and where
their children are spending their money. Most of the students receive their allowance
daily or weekly when they live with their parents while students who study away from
their homes receive their weekly or monthly.

According to the research study of BS Agribusiness Economics from Davao


(2014), even if students have variety of needs and wants, may it be for personal
satisfaction or academic purposes, if their budget or allowance is not enough, their
behavior towards budget constraints would be depends on the allocated budget. Their
consumption of various commodities varies as to how much their allowances and is
limited as response to budget constraint. In short, they tend to spend within their means.
From the results of their conduction of survey, they assessed the expenses of their
respondents and it includes food, groceries, fare, printing and photocopy, laundry,
savings, and entertainment and relaxation expenses. They also found out that the
respondents amount of consumption increase when the students’ allowance increase.

According to Yahoo (2012), most Filipino kids save their pocket money to buy
only an item they want and not to prepare to grow more funds for their future. For every
10 Pinoy children, seven of them spend a part of the allowance given by their parents
while setting aside funds to buy the latest gadgets, clothes and toys. These were revealed
recently following an August survey of 211 Filipino children in Metro Manila and Cebu
by independent research firm Cimigo for the regional arm of British insurer Pru Life UK.
In this study illustrates that the children aged seven to 12 years old can get the average of
P157.60 in pocket money a week. The Philippines recently launched its second season in
the Philippines which aimed to introduce financial concepts such as budgeting, credit and
investing after the first part which taught them earning, saving, spending and donating. In
this age when money comes in many forms and may be used in different ways, it is
important to make children understand at an early age the value of using money wisely.

A blog from Mapua Website (2016) quoted that “Budgeting is a challenging task
for anyone, even more so for students”. Computing and limiting your spending is a must
to budget your allowance. This includes your expenses for food, transportation, school-
related and many more. You became mature as you consider the value of your allowance
and only using it for what is really needed. They mentioned tips such as separate wants
from needs, include savings in your budget expenses, don’t abuse credit cards, keep
everything organized and forgive yourself if you slip up.

According to J. T. C. Bona (2018), the attitude of students with regards to


spending money depends on the family background, lifestyle and financial knowledge.
Subsequently, this study was done to better understand how these factors influenced the
spending conduct of college students and their financial behavior.

In the research of De Guzman, Mary R., Inamac, G., Lee, J., Sangria, N., K., and
Tia T. (2008), the courses correspond on their allowances, since the findings shows the
difference on their allowances based on their courses. It can be derived that the Interior
Design students has the highest expenditures among all CFAD students. The average
amount of all the CFAD students ranges from Php 200-299. Most of their allowance goes
to food, transportation and art materials.

According to the researchers of the La Salle University of Ozamiz City (2016),


students are often whined about the allowance due to financial dilemmas. By this, student
should always remember how to budget their allowance in order to ensure their need to
meet their day-to-day living expenses. Allowance should be spent wisely in order to save
some money and use it for the future. The researchers conduct this study in order to know
how and where the student’s going to spend their allowance and if it is enough for their
day-to-day living expenses.

One of the reasons why the researchers of the La Salle University of Ozamiz City
conduct this study is because of behaviour of a person. According to Crumley,
behaviourism identifies mental states with disposition to act in certain situations which
means this has something to do with the interaction to the surroundings like if someone
invites you to go at the restaurant and you do not have extra budget then you should say
no to it. Other reason of the researchers is the decision making. According to Teays, some
preliminary work needs to be done before coming up with a decision that will not be later
regret. For example, when you go out with your friends then you think that it is their treat
then suddenly you will be surprise that they are asking you for your contribution. This
situation shows that an individual should always think twice about what he/she should do
in order to save money from unexpected contribution. According to Students Lifestyle
and Spending Habits, students all over the world spend in several different ways and
there are several common patterns that can be seen. Spending habits in adolescents is
changing drastically in the last few years but the change is almost uniform in all metros
of the world. While, the study of banks and financial institution says that youth uses
money to purchase a load on cellphone, to play computer games at Internet Cafes, to buy
cigarettes and alcohol, to hang out with friends, and also to buy clothes and accessories.
Lastly, Tempo stated that teens are active consumers in terms of the money they spend as
well as the influence they wield in their families and on social trends despite of being
raised in a period of rapid change.

A study was conducted in Technological Institute of the Philippines (2016)


determining the personal budgeting practices of their respondents. It also seeks to know
how much allowance is given to the Business Students in general and where they spend
it.

At the end of the study, they were able to draw a conclusion that the students
rarely spend for Transportation while regularly include the other variables in their
budgeting practices.
The study recommends for the students to save for the variables that really
matters and necessary and to understand the importance of having a budget plan, the
school department to conduct a seminar concerning budget planning.
CHAPTER 3

METHODS AND PROCEDURE

This chapter consists of the methods of research on how the data will obtained,
the subject of the study who are the target respondents, research instrument that will used
in conducting the data and the process on how the researcher will gather the data needed
in the study.

Methods of Research

The researchers used Quantitative type of research method and Correlational type
of Quantitative Research. According to Aliaga and Gunderson (2002) “Quantitative
research is an inquiry into a social problem, explain phenomena by gathering numerical
data that are analyzed using mathematically based methods e.g. in particular statistics”.
According to Arlos A.P. Francisco V.S “Correlational research is a procedure in which
are simply measured without manipulation of any variables to determine whether there is
a relationship between them”.

This method of research will reach the goal of the researcher to bring new ideas
from the data collected.While, the chosen research design used by the researchers is
accurate and applicable to study since the study seek to know the relationship of monthly
allowances with the daily expenses.

Subject of the Study

The study will focus to the population of the Grade 11 Accountancy and Business
Management students which is 137 overall. The respondents will be the Grade 11 male
and female students ages from 16-18 years old.

The researchers used the Slovin’s Formula (n = N ÷ (1 + Ne2)) which lead them
on having 102 respondents only
Description of Research Instruments

The researchers used survey to gather data needed in research. The survey
contains questions that seek to know how much the allowance of students’ in a month
and how much they spent for the daily expenses to obtain sufficient data needed in a
study. It consists ten questions with a multiple-choice type of questions. Survey
questionnaire used as the research instrument that contains the name, age of the student
and most importantly the questions need to be answer by the respondents.

Statistical Treatment

The statistical treatment used in this study are Slovin’s Formula and Pearson
Correlation Coefficient. These will help to find the density of the population among
Grade 11 ABM students and to know the relationship between the independent and
dependent variables.

Slovin’s Formula is used in this study to calculate the sample size (n) given the
population size (N) and its margin of error (e) among the Grade 11 students surveyed by
the researchers.

The formula for Slovin’s:

n = N ÷ (1 + Ne2)

Legend:

n: no. of samples

N: total population

e: error margin / margin of error

Pearson Correlation Coefficient (PCC) also known as the Pearson’s R or bivariate


correlation. It is used by the researchers since the study aims to know the relationship
between monthly allowances to the daily expenses of ABM students. This is one of the
most appropriate formulas to use in measuring the relationship between the variables.

The formula for Pearson r:

𝑛(Σ𝑥𝑦) − (Σ𝑥)(Σ𝑦)
=
√⌊𝑛𝛴𝑥 2 − (Σ𝑥)2 ⌋⌊𝑛𝛴𝑦 2 − (Σ𝑦)2 ⌋

Data Gathering Procedure

The researchers should have an excuse letter and survey questionnaires on hands.
The researchers should present excuse letter to the teacher in the specific section in order
to have an approval to conduct a survey in class. This will be happened if the section does
not have a discussion but the teacher was there. After that, the researchers will start to
give a survey questionnaire to the target respondents. As much as possible, survey
questionnaires will also be given during break time and ensure that the respondents are
ABM students. Especially, the information gathered from the students will be subjected
to confidentiality and will be used for research purposes only.

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