Undergraduate Feasibility Study Bachelor of Science in Business Administration Major in Financial Management University of Rizal System Binangonan 2024

This study aimed to determine the financial literacy of Senior High School
students in Vicente Madrigal Integrated School, focusing on savings, budgeting, investing, and spending. The 337 respondents were grouped by sex, age, civil status, strand, monthly allowances, working status, and parent marital status.
The descriptive method of conducting research was applied, in which data
gathered from the survey-questionnaire served as the primary source of data. The questionnaire was distributed to 337 senior high school students at Vicente
Madrigal Integrated School, divided into two parts. Part one encompassed the
respondents' profiles, including age, sex, civil status, strand, monthly allowances,
working status, and parental marital status. Part two focused on the students'
perceptions regarding saving, budgeting, investing, and spending. Additionally, the
questionnaire checklist served as the primary data collection tool, while secondary
data were gathered from various electronic sources and unpublished thesis.
The paper utilized statistical tool to analyze the gathered data. For the
profile of the respondents, frequency, percentage, and rank distribution were
employed. For the perception of the respondents regarding savings, budgeting,
investing, and spending, the weighted mean was utilized. For the significant
difference in the perception of financial literacy of the respondents, One-Way
Analysis of Variance (ANOVA) was used. Based on the data at hand, the findings regarding the profile of the
respondents showed that most of the students were aged 15-17 years old. The
majority were female, and most were single. They studied in the HUMSS strand,
with most having monthly allowances below 500. Additionally, most were not
working, and the majority of their parents were married.
Furthermore, based on the data, it revealed that the financial literacy of the
students regarding savings practices is sometimes practiced by the students with
a general mean of 3.16, while the financial literacy in terms of budgeting, investing,
and spending practices is often practiced by the students with a general mean of 3.35, 3.43, and 3.86. Overall, the financial literacy of the students regarding
savings, budgeting, investing, and spending practices is often practiced by the
students with a general mean of 3.56.
With respect to the significant difference in the personal profile of the
respondents and their perception, it was found that in terms of the data, there was
no significant difference in the perception of financial literacy among Senior High
School students at Vicente Madrigal Integrated School in terms of the said
variables when they are grouped according to their age, monthly allowances, and
parent marital status.
The data also showed that there was a significant difference in the
perception of financial literacy among Senior High School students at Vicente
Madrigal Integrated School with respect to the cited variables when grouped
according to their sex, civil status, strand of students, and working status.
The summary of findings revealed that students were good at budgeting
and spending, managing their allowances well to cover essential needs. However,
they had difficulty saving and investing. Many students found it hard to save
because their allowances were often too small to cover all expenses. Even though
they tried to budget carefully and focus on necessities, they didn't have enough
money left over to save or invest. This highlights a critical gap in financial
preparedness among students, necessitating targeted educational initiatives to
enhance their financial literacy and capability to manage finances effectively. To effectively save and invest money, students should begin by creating a
savings plan, setting aside a small, fixed portion of their allowance each week to
develop the habit of saving. Financial education is crucial, so attending workshops
or seminars on financial literacy will provide practical knowledge on saving and
investing. Increasing financial awareness through such workshops helps students
understand the importance of these practices. Setting realistic financial goals is
essential; establishing clear, achievable goals for saving and investing, even if the
amounts are small, can lead to significant accumulation over time. Utilizing
financial tools like budgeting apps can help track expenses and identify potential
savings opportunities, aiding in efficient financial management. Seeking guidance
from financial advisors or mentors can offer personalized advice on managing
finances, including strategies for saving and investing. Additionally, exploring
additional income sources, such as part-time work or freelance opportunities, can
increase income and provide more flexibility to save and invest.