Documente Academic
Documente Profesional
Documente Cultură
A Research Presented
to the Faculty of the Senior High School
University of Saint Louis
Tuguegarao City, Cagayan
In Partial Fulfillment
of the Requirements for the Course
SENIOR HIGH SCHOOL
By
April 2019
ABSTRACT
One of the challenges that college students encounter is the difficulty to control the way
they spend and in the Philippines, very minimal research has been conducted about this.
The level of the perceived problem on the spending is still not absolutely figured
out.Therefore, this study focused in determining the spending behavior of management
students of the University of Saint Louis Tuguegarao using Quantitative survey research
design. Stratified random sampling was used to determine the 234 respondents who are
taking Management Accounting, Financial Management and Marketing Management
course. A researcher made questionnaire was used for data collection. Respondents were
found to spend tightly in terms of personal needs and academic purposes and loose in
terms of food and transportation. Meanwhile, Independent samples test and Analysis of
Variance were used to test the difference on spending behavior when grouped according
to profile variables. It can be concluded that sex, course, year level and ethnicity are
determinants of the difference on spending behavior of management students while
socioeconomic status was found insignificant when comparing the said behavior.
INTRODUCTION
Background of the Study …………………..……………………… 1
Research Questions ………………………..………………… 1
Hypothesis ………………………..………………… 2
Significance of the Study ……………………………..…………… 2
Literature Review ………………………………….………. 2
Research Simulacrum ……………………………………..…… 5
METHODS
Research Design ………………………………………….. 6
Locale of the Study ………………………………………….. 6
Respondents of the Study …………..…………………………….… 6
Instrumentation ….….…………………………………… 6
Data Collection Procedure ………………..………………………... 6
Data Analysis ……..………………..………………….. 7
Ethical Considerations …………………..………..…………….. 7
RESULTS …………………..………..…………….. 8
DISCUSSION …………………..………..…………….. 13
CONCLUSION …………………..………..…………….. 14
RECOMMENDATION S …………………..………..………………. 15
REFERENCES …………………………………………… 16
APPENDICES
A. Literature Matrix ….….……………………………………. 20
B. Variable Matrix ….….…………………………………… 36
C. Questionnaire ….….…………………………………… 39
D. Code Guide ….….…………………………………… 41
E. Research Instrument Table ….….………………………………… 44
F. Letter to the V.P. for Academics ….….……………………………… 45
G. Letter for Validity ….….………………………………… 47
H. Informed Consent …………………………………………. 49
I. Minutes of the Defense ………………………………………… 51
In the Philippines, very minimal research has been conducted about the
spending behavior of college students. The level of the perceived problems on the said
field is still not absolutely figured out. In this connection, the researchers decided to
conduct a study that will focus on the spending behavior of college students in the
University of Saint Louis Tuguegarao, particularly the management students.
Research Questions
Hypothesis
Literature Review
Underpinning Theory
This study is anchored on the Social Cognitive Theory by Albert Bandura (1977)
which proposes that people are driven not by inner forces, but by external factors. This
model suggests that human functioning can be explained by a triadic interaction of
behavior, personal and environmental factors.
This theory is beneficial in analyzing and interpreting the difference of the profile
variables (sex, course, year level, socioeconomic status, and ethnicity) of the
respondents and their spending behavior.
Koc and Ceylan (2012), stated that consumers in lower status groups spend
the biggest portion of their income on food products. He added that the highest status
consumers always check the price labels of the food products with a high percentage
(66.67 percent) before purchasing. A total of 77 percent of study respondents stated
that they were open to spend in trying new food products. Meanwhile, consumers
within the top socioeconomic groups consider food ingredients carefully before
purchasing.
It has been made issue of whether financial education correlates with behavior
change as per previous studies. Several researchers have agreed that financial
education have brought upon a favorable outcome based on a conducted study from
distinct target population like that of employees, students and financial counselling
clients. To mention, long-term financial behavior had been ascertained to have
influenced by education (Cole, Paulson & Shastry 2012; Willis, 2009). It was also found
that there is a connection between education and financial behavior (Nguyen, 2016).
Moreover, financial seminars brought up a positive difference in behavior (Borden et
al., 2008).
However, some authors are crucial of the impacts of management education
to that of behavior (Hensley, 2015). According to Farinella et al., (2017), students’
financial literacy has not improved after taking a management course. This was
elaborated by Mandell and Klein (2009) disagreeing that those who took management
course assesses themselves that there is no great impact on their financial behavior
rather, they didn’t appear as more financial literate than those who did not took such
course.
Financial Education impacts on behavior change have been charged of such
issues due to a restricted evaluation measurements that have been used. Some
surveys use data from a single source such as a pre-test or post-test, which is
inadequate in data comparison in pre or post intervention (Lyons et al., 2009).
These debate do not reject the link between financial education and behavior
change, but they do imply that a more improved theory and evaluation design work is
claimed (Collins and Holden, 2014).
Research Simulacrum
METHODS
Research Design
This study adopted Quantitative Survey Research Design. This design includes
procedures in which researchers administer a survey to a sample or group of
respondents in order to describe the perceptions, attitudes, behaviors or characteristics
of the population.
This particular approach guided the researchers in assessing the spending
behavior of students.
The researchers conducted the study in the School of Accountancy, Business and
Hospitality (SABH) Department, specifically in the N building of the University of Saint
Louis Tuguegarao.
Instrumentation
The researchers addressed a letter to conduct a research to the Vice President for
Academics of USLT. Upon receiving the approval of the said authorities, the study was
urgently conducted.
The researchers asked permission from the adviser of the class where the
questionnaires were be floated. Permission from the willing respondents was also asked
Spending Behavior of Management Students | 6
before the researchers conducted a brief orientation regarding the scope of the study. To
secure that the questionnaires were properly filled out, the researchers personally
monitored the respondents while they are answering.
The researchers consumed three weeks in gathering data due to the conflicting
class schedule of the respondents.
Data Analysis
The researchers used Statistical Package for the Social Sciences (SPSS) in
analyzing the data. Specifically, descriptive statistics like frequency was used to
determine the number of respondents who belong in each category of the profile
variables, also this was used in knowing the common range of their monthly allowance
and what percentage is spent for food, transportation, academic purposes and personal
needs. Meanwhile, comparison between mean and median was used to determine the
level of spending among the respondents and the criteria include, if mean is greater
than or equal to the median, the level of spending is ‘loose’ while if the mean is less
than the median, the spending level is ‘tight’.
Furthermore, Independent Samples Test was utilized to find out if there is a
significant difference on spending behavior when grouped according to sex and year
level while One way Analysis of Variance was used for the variables such as course,
socioeconomic status and ethnicity. Post hoc was further used for the variables, course
and ethnicity to know on what particular category does the difference come from.
Ethical Consideration
Prior to the conduct of this study, the researchers seek permission from the SABH
dean to legally convey the study to the target respondents. The respondents were then
asked for consent and only those who agreed to participate were given informed consent
and questionnaires. Strict confidentiality of the data gathered and the respondents’ identity
was assured by assigning numeric code for each respondent and by compiling the
questionnaires in a secured place.
The following tables summarize the relevant data taken from the survey conducted
by the researchers which dealt on the spending behavior of management students.
Table 2.2 shows that most of the respondents use 5-21% of their monthly
allowance to finance their personal needs such as clothes and foot wears, toiletries and
rent for apartment.
Table 2.3 displays that approximately half of the respondents’ monthly allowance
is commonly allotted for food.
Table 2.4 shows that majority of the respondents spend 12-23% of their monthly
allowance for academic purposes which include school supplies, review materials and
other expenses in making school requirements.
Table 2.5 shows that about 10% of the majority of the respondents’ monthly
allowance is spent for fare or gas consumption.
Table 4 shows that the spending behavior of the male respondents is significantly
different from females. Male respondents spend more loosely compared to females.
Table 5.1. Test of Significant Difference on the Respondents’ Spending Behavior when
Grouped According to their Courses
Table 5.1 reveals that there is a significant difference on the respondents’ spending
behavior when grouped according to course.
Table 6 proves that year level is one of the factors that makes the spending
behavior of the respondents different when compared to each other. Senior college
students spend their allowance more loosely compared to freshmen.
Table 7 shows that the spending behavior of the respondents who belong to
different socioeconomic class are not significantly different from each other.
Spending Behavior of Management Students | 11
Table 8.1. Test of Significant Difference on the Respondents’ Spending Behavior when
when grouped according to Ethnicity
Category F-value p-value Decision
Ilocano
Tagalog
Ybanag 2.430 .048 Reject Ho
Itawes
Others
Table 8.1 shows that there is a significant difference on the spending behavior of
the respondents when grouped according to ethnicity. This implies that students who
belong to different ethnicity, do not have the same way of spending.
Table 8.2. Post Hoc test of difference in Spending behavior when grouped according to
Ethnicity
Ilocano Tagalog Ybanag Itawes Others
Ilocano 1 1.05252 1.13558 .02384 -10.62199
Tagalog -1.05252 1 .08307 -1.02868 -11.67451
Ybanag -1.13558 -.08307 1 -1.11174 -11.75758
Itawes -.02384 1.02868 1.11174 1 -10.64583
Others 10.62199 11.67451 11.75758 10.64583 1
DISCUSSION
The main purpose of this study was to determine the spending behavior of college
students who are taking management courses.
The researchers hypothesized that there is no significant difference on the
spending behavior of the students when grouped according to sex, year level, course,
socioeconomic status and ethnicity.
CONCLUSION
It can be concluded in this study that the monthly allowance of the respondents is
spent mostly on food, followed by academic purposes and personal needs, and the least
is for transportation purposes.
Respondents are tight in spending when it comes to personal needs and academic
purposes, this implies that amidst the evident increasing demand for the said aspects in
today’s situation, they can still control the way they spend. On the other hand, the
respondents are loose in spending on food and transportation because food is a basic
need and transportation is a necessity considering the locale of the study which is a city.
But this loose level of spending in terms of food and transportation can trigger spending
problems among the respondents if it will not be properly monitored and moderated.
RECOMMENDATION
REFERENCES
Anderson, C., & Card. K. (2012). Effective practices of financial education for college
Bordas, R., Kiss, D., & Yilmazer, T. (2008). Effectiveness of financial education
on financial management behavior and account usage: Evidence from a
‘second chance’ program. Journal of Family and Economic Issues, 29:362.
Retrieved August 30, 2018 from https://doi.org/10.1007/s10834-008-
9115x
Borden, L., Lee, S., Serido, J., & Collins, D. (2008). Changing college students‘ financial
knowledge, attitudes and behavior through seminar participation. Journal of
Family and Economic Issues. Retrieved August 24, 2018 from
https://wp.stolaf.edu/sociology/files/2014/03/Consumption-and- Spending-
Patterns-at-St.-Olaf-College.pdf
Collins, J.M. & Holden, K.C., (2014). Measuring the impacts of financial literacy:
challenges for community-based financial education. in k. sprow forté, e. w.
taylor, & e. j. tisdell, eds. financial literacy and adult education. Wiley
Periodicals, pp. 79–88
Dolan, P., Elliott, A., Metcalfe, R., & Vlaev, I. (2012). Influencing financial behavior from
changing minds to changing contexts. Journal of Behavioral Finance, 13:2, 126-
142.Retrieved August 20, 2018 from
http://dx.doi.org/10.1080/15427560.2012.680995
Economic Planning Unit (2006). Malaysian ninth plan (2006-2010). Prime Minister
Department, Putrajaya. Retrieved December 16, 2018 from
http://www.epu.gov.my/html/themes/epu/html/rm9/english/Chapter16.pdf
Farinella, J., Bland, J. & Franco, J. (2017). The impact of financial education on
financial literacy and spending habits. International Journal of Business,
Accounting, & Finance, 1. Retrieved August 23, 2018 from
tiny.cc/jcrhzy
Gutierez, R.C. (2014). Consumption and spending patterns at St. Olaf college.
Consumption To Predictable Income Growth (2012), 18. Retrieved August
Hayhoe, C., Leach, L., Turner, P., Bruin, M., & Lawrence,
F. (2000). Differences in spending habits and credit use of
college students. Journal of Consumer Affairs, 34(1), 113-
133
Hensley, B.J. (2015). Enhancing links between research and practice to improve
consumer financial education and Well-Being. Journal of Financial
Counseling and Planning, 26(1), pp.94–101.
Holland, K. (2016). How to help your new college student avoid money minefields.
Retrieved December 16, 2018 from
https://www.consumerreports.org/budgeting/money-101-for-college-students-
how-to-budget/
Jin Jin, I. (2017). A study of spending habits among college students in miri. Retrieved
fromwww.ibs.edu.my/pdfdirectory/thesis/Project%200087.pdf onAugust 31, 2018
Koç,B. & Ceylan, M. (2012). The effects of social‐ economic status of consumers
on purchasing, behaving and attitude to food products: Case study of Van,
Turkey. British Food Journal,116. Retrieved August 15, 2018 from
https://doi.org/10.1108/00070701211230006
Levenson, N. (2014). Spending money wisely; getting the most from school district
budgets. The District Management Council (2009), 6-7. Retrieved August
27, 2018 from https://smarterschool spending. org/sites/default/files
/resource /file/ Research_ Spending%20Money% 20 Wisely.pdf
Marx, A. (2014). Higher and further education students’ income, expenditure and
debt in scotland. Journal of Economic Era, 6. Retrieved August 25, 2018
from http://www.gov.scot/ Publications /2009/06/24115743/4s
Opoku, A. (2015). Financial literacy among senior high school students: Evidence
from ghana. Financial Counselling and Planning Education, 10.
Retrieved August 22, 2018from http://ir.knust.edu.gh/ bitstre
am/123456789/8511/1/ ARMSTRON G%20OPOKU.pdf
Sabri,M., MacDonald, M., Jariah Masud, J., Paim, L., Hira T., & Othman, M. (2008)
Financial Behavior and Problems among College Students in Malaysia:
Research and Education Implication. Consumer Interests Annual, 54. Retrieved
on August 18, 2018 from https://www.consumerinterests.org/assets/
docs/CIA/CIA2008/56.sabrimasudhiramacdonaldpaim.pdf
Scott, M. (2012). Financial management practices of college students from states
with varying financial education mandates. Households Below
Average Incomes, 7. Retrieved August 28, 2018 from http://webarchive.
nationalarchives. gov.uk/20130323034744/ https://
www.education.gov.uk/publications/ eOrdering Download /RR213.PDF
VARIABLE MATRIX
Variable or Type of Operational How is the Behavior of the
Conceptual Variable Definition variable Variable
Tags measured
in the
study
Sex Independent Sex is the identity Measured Sex can affect the
Nominal of the respondents, through spending
Qualitative whether female or survey behavior of the
Dichotomou male. questionnair respondents. The
s e. On the means where
first part of they spend their
the money usually
questionnair depend on their
e, the sexual identity.
respondents
were asked
to check
their
correspondi
ng sex.
Course Independent Course is Measured
Nominal the field where through
Qualitative the respondents survey
Multinomial are currently questionnair
enrolled in such e. On the
as Bachelor of first part of
Science in the
Management questionnair
Accounting(BSM e, the
A), Bachelor of respondents
Science in were asked
Business to indicate
Administration the course
Major in that they are
Financial taking up.
Management
(BSBA-FM) and
Marketing
Management
(BSBA-MM).
APPENDIX C
QUESTIONNAIRE
Direction: Please fill out the following and tick the boxes that correspond to
your answers.
I. PERSONAL DATA AND INFORMATION
5 4 3 2 1
A. Personal Needs
1. I compare prices when I buy clothes, shoes and
cosmetics.
2. I spend my money on latest fashion design for
clothes, shoes, and bags.
3. I prefer higher end personal items that are more
expensive than the regular ones
4. I spend a portion of my allowance for the rent of
my apartment/boarding house.
B. Food 5 4 3 2 1
APPENDIX D
CODE GUIDE
APPENDIX E
Dear Sir:
Greetings of Peace!
We, the students from the Accountancy, Business and Management strand, will conduct
a research entitled, “Spending Behavior of Management Students.” The purpose of
this study is to know the spending behavior among college students, taking up
management course such as Management Accounting, Financial Management and
Marketing Management and to determine if there is a significant difference on the said
behavior when grouped according to sex, year level, ethnicity and socioeconomic status.
In line with this, we seek the approval of your good office to allow us to gather the needed
data from the students who are on the said courses. A questionnaire shall be given to our
respondents. Attached in this letter is the said questionnaire.
Respectfully yours,
Noted by:
MA CARINA B. CATUAAN
Accountancy, Business and Management Coordinator
Senior High School
University of Saint Louis Tuguegarao
Dear Maam:
Greetings of Peace!
We, the Grade 12 ABM students of this university will be conducting a study entitled
"Spending Behavior of Management Students" as a final requirement for our subject,
Practical Research 2. This quantitative survey research aims to know the spending
behavior among college students, taking up management course such as Management
Accounting, Financial Management and Marketing Management and to determine if there
is a significant difference on the said behavior when grouped according to sex, year level,
course, ethnicity and socioeconomic status.
In this regard, we would like to respectfully ask your expertise in validating our
questionnaire.
Attached herewith is a copy of our research questionnaire as well as the clarity and validity
assessment form.
We anticipate with gratitude your effort in this noble activity. May God bless you and your
family.
Respectfully yours,
Noted by:
Dear Sir:
Greetings of Peace!
We, the Grade 12 ABM students of this university will be conducting a study entitled
"Spending Behavior of Management Students" as a final requirement for our subject,
Practical Research 2. This quantitative survey research aims to know the spending
behavior among college students, taking up management course such as Management
Accounting, Financial Management and Marketing Management and to determine if there
is a significant difference on the said behavior when grouped according to sex, year level,
course, ethnicity and socioeconomic status.
In this regard, we would like to respectfully ask your expertise in validating our
questionnaire.
Attached herewith is a copy of our research questionnaire as well as the clarity and validity
assessment form.
We anticipate with gratitude your effort in this noble activity. May God bless you and your
family.
Respectfully yours,
Noted by:
INFORMED CONSENT
This informed consent is for the respondents of the research entitled “Spending Behavior
of Management Students”
Name of Researchers: Christine Faith Abawag, John Rex Ancheta, Ivy Joy Domingo,
Genebib Rabina, Aaron Denver Saclote, Gale Myka Taguinod
Name of Organization: Senior High School, University of Saint Louis Tuguegarao City
Objective of the Study: This study aims to know the spending behavior among college
students, taking up management course such as Management Accounting, Financial
Management and Marketing Management and to determine if there is a significant
difference on the said behavior when grouped according to sex, year level, ethnicity and
socioeconomic status.
Significance of the Study: The researchers may use the results of this study to extend
frontier of knowledge regarding the factors that can affect the spending behavior of
students. Moreover, this can be a good way to formulate possible ways to eradicate or at
least prevent spending problems that are commonly encountered by students.
INFORMATION SHEET
We, the undersigned, are Senior High School students of the University of Saint Louis and
currently enrolled as Grade 12 ABM students. We wish to invite you to participate in this
research project that we are undertaking for the completion of our requirement for the said
program. Before you participate in this research, feel free to voice out any concerns you
may have to us. We will be very willing to answer any questions you may have about the
nature of our research.
You are being invited to take part in this research because the study research aims to
determine the spending behavior of college students taking management courses. This
research will be conducted among 234 respondents from the School of Accountancy,
Business and Hospitality using stratified random sampling and we believe that you can
contribute much to this project. Your participation in this research is entirely voluntary. We
can assure you that no physical risks will be incurred unto you while participating in this
study. Whether or not you choose to participate will not have any effect on your standing
as student in the university. Having been able to decide to participate in this study, you
are still free to withdraw your participation the moment that you feel safety and privacy is
at risk.
The research will make use of survey questionnaire as the method of collecting data.
Answering the questionnaire would last for about three to five minutes. If you cannot
understand a particular question asked in the questionnaire, you are free to seek
clarifications from us. Furthermore, we would like to request that you provide us your name
and contact information. Rest assured that the personal information that you entrust to us
will solely be used for research purposes only. All information that will be obtained during
the data collection process will be held confidential.
Respectfully yours,
Noted by:
CERTIFICATE OF CONSENT
I have read the foregoing information and have had the opportunity to clarify my concerns.
The questions that I have raised were answered satisfactorily. I am, therefore, giving my
voluntary consent to be a participant in this study.
___________________________________
Signature over printed name of Participant
___________________________________________________________
Signature over printed name of guardian or parent (if participant is a minor)
I have accurately read out the information sheet to the potential participant, and to the best
of my ability made sure that the participant understood the content.
I confirm that the participant was given the opportunity to ask questions, and all the
questions asked by the participant have been answered correctly. I confirm that the
individual has not been coerced into giving consent.
_________________________________________
Signature over printed name of Researcher
Date: ___________________________________
I. Proposal Defense
a. Introduction
Focus on Spending Behavior
Establish it into the difference between:
- Spending Behavior
- Budgetary Conduct
- Management Practices
- Financial Practices
- Financial Behavior
b. Literature Review
Remove some themes such as spending patterns
Consider other factors such as ethnicity
c. Methods
ABM-HUMMS, STEM H, STEM NH: Cannot be compared due to
Inequality
Change respondents of the study: Compare 1st and 2nd Year
College
d. Appendices
e. Other areas
Change title to: Spending Behavior of Management Students