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INTRODUCTION

There are lot of definition regarding financial literacy and there is no specific definition of
it based on the past authors and researcher. Financial literacy includes, having understanding
and knowledge about financial literacy, effective ways in spending and managing money,
decision making on how to spend money correctly and future plan and goals to be financialy
secured on the future.This issue will help the researchers on how to be financial literate, using
the variables the researcher will going to describe what is the definition of finacial literacy.

Due to the unstable status of the economy, many things change day by day specially in
the value of money. Students need to know the importance of money to set a goal and plan on
how to spend money wisely and prepare for their future (Lusardi et. al 2010). Knowing the right
ethics in financial literacy will help them in improving their decision and also will improve their
behavior in spending money. And having enough knowledge about literacy will help the students
and they can benefit from it (Lyons et. al 2016). Some students are lacking knowledge about
financial literacy. And by having enough information regarding this matter will help them in
managing money in right way. They will learn on how to spend their money wisely (Yip and Say,
2009). Studying financial literacy in important to the students in able to know how to
manage,control and improve their spending habits in different ways in different manner that
could help them in setting goals regarding saving money and will be able to benefit from
it.(Caronell,2019).

The current survey results available are from standard and poor and mastercard.
Standard and poor according to their survey only one out of four (25%) Filipinos are financial
literate (Klapper et al. 2015) found that almost 68% of Filipinos are financially literate.But these
results are used different factors to support and basis. Therefore it came out with different
results.According to the financial literacy index of mastercard (2015) 66% of Filipinos are literate
in basic money management 73% in financial planning 56% in investment. Presently, our
country are in stable economic growth and according to PES (Philippine Economic Society)
Financial Literacy is key in continous growth of economic status, meanwhile according to
Ravago (2018), there is a multiplier effect in the country's GDP which is the main measurement
of economic growth. In result of the citizen of the Philippines will be financially literate. The
country can reach financial inclusion but it takes a long process now that this step may take to
continue development as well as literacy (Mendez, 2015). By the mandate of law, the financial
literacy was proclaimed in both Public Departments. There is such an institution that also
implement financial wise spending among 200. families of indigent people such as (4ps) DSWD
and BPI Globe Banko (Crisostomo, 2014). Financial literacy is growing more important than
today's awareness of money management income. Students are compelled to deal with
challenging financial times it is important that students with knowledge and skills follow as
buyers in today's global economy (Filled, 2006).

Teenagers tend to be more likely knowledgeable on financial literacy as they hit the
adolescenthood wise spending money will take an advantage on the financial stability on the
adulthood of now adolescence. Questionnaire and survey was conducted and prepared among
the class of ECNVHS Senior High students in the Philippines about their wise spending money
for their financial stability in their near future. And they tend to buy or spend their allowance on
food and neglected to practice money saving behaviour.

STATEMENT OF THE PROBLEM

1. Variables: Sub-variables:
- Behaviour - Spending habits - Decision making - Factor that
- Attitude - Saving habits - Leisure affects in spending
- Knowledge - Budgeting habits - Awareness

2. What are the financial literacy level of the Grade 11 students in terms of: spending, saving,
and budgeting habits?
3. What are the factors that affect the students in spending money.
a. needs (pangangailangan sa pang araw-araw)
b. leisure (luho)
c. school projects (mga project sa paaralan)
4. How does the Grade 11 students personal knowledge in financial literacy influence his/her
decision?
5. What are the possible program that can be made to improve the awareness of the students in
financial literacy?
SIGNIFICANCE OF THE STUDY

1. Students
It will help students learn more about financial awareness and learn how to use and
spend money at that point their financial knowledge will help them in the future.
2. Parents
This research will help the parents to understand and guide their children in spending
money. They can help them and support in planning and setting goal in saving money. In this
way parents will able to guide their children in managing their money and on how to spend it
efficiently.
3. Teacher
The teachers will able to get enough knowledge about finacial literacy. They will know
what is need to improve from and students and the teachers will going to assest them and
improve their kbowledge about financial literacy.
4. Community
This research will help the community to gain knowledge regarding this problem and will
know the right way in spending money. And when they have enough knowledge about this
problem, they will find a solution and they will be able to apply it in their daily lives. By applying
this knowledge spending money will be easier and efficient to the people on community.
5. Dep-ed
The Dep-ed will able to get information about financial literacy. They will know that many
students is lacking knowedge about this and can implement a certain program in able to guide
the students regarding on how to be a finacial literate.

RESEARCH GAPS

The previous studies focus on spending money but not tackled the saving money plan of
why and where they consume their money. Therefore, our study will aim to focus on what the
other researcher missed to study. To give significance on financial literacy in the Philippines.

OBJECTIVES
This study aims to describe and investigate the spending behaviour of the SHS in
ECNVHS and their saving money plan.This study will help the students to have enough
knowledge and understanding regarding financial literacy. And also this study will also help the
students in managing their money and setting their plan and goals regarding this issue.

References:
1. A Look at Financial Literacy in the Philippines (David Samuel V. Ang)

2. Personal Finance Knowledge Level among Senior High School


Students (PDF Literature)
3. The Effects of Financial Education on the Financial
Knowledge of High School Students (PDF)
4.
https://www.researchgate.net/publication/292158361_Student_Budgeting_and_Spend
ing_Behaviors_A_Comparative_Study
5.
file:///C:/Users/admin/Downloads/ALAS_KWATRO%20(1)/ALAS_KWATRO/3.%
20Financial%20Management%20and%20Possible%20Programs/(PDF)%20Financial%20
Literacy%20Of%20Secondary%20School%20Students.pdf (PDF)

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