Understanding the Allowance and Saving Habits of Grade 10 at Rosebelle Academy

of Tarlac, Inc. : Patterns, Influences, and Motivations

A Research Paper Presented to

Rosebelle Academy of Tarlac Inc.
Senior High School Department
Sitio Almendras Baculong Victoria, Tarlac

In Partial Fulfillment of the Subject

Inquiries, Investigations, and Immersion
Science, Technology, Engineering, and Mathematics

RESEARCHERS:

Abana, Ligorio Jr G.
Contillon, Yuki P.
Galindo, Kenneth Andrew
Sosa, Denver P.
Dizon, Trixie Ann Joy
Gasmido, Clyde Nicole
Mallari, Ericka
Pineda, Camille Joy
Ariana Villegas

Ms. Denice Jean Gabuya

Research Adviser

May 2024

1
 Approval Page

This research study entitled “Understanding Grade 10 student's Allowance and Savings

Habits at Rosebelle Academy of Tarlac, Inc. : Patterns, Influences, and Motivations ”

has been prepared and submitted by Abana, Ligorio Jr G. Dizon, Trixie Ann Joy, Contillon, Yuki P.,
Galindo, Kenneth Andrew, Gasmido, Clyde Nicole, Pineda, Camille Joy, Sosa, Denver P., Mallari,
Ericka, and Villegas Ariana in partial fulfillment of the requirements on the subject of Inquiries,
Investigation, and Immersion and has been examined and hereby recommended for acceptance and
approval.

Denice Jean Gabuya

Research Teacher

THESIS COMMITTEE

Ma. Venus B. Tolentino, M.Ed.

Chairman

Timothy John R. Balmores John Marc G. Millo Rochelle S. Alvaro

Member Member Member

Mary Rose Novillos Cristal R. Zendon Katrine M. Dagohoy

Member Member Member

Daniella Sagun
Member

Accepted and approved in partial fulfillment of the requirements for the Inquiries, Investigation, and
Immersions

Ma. Venus B. Tolentino, M.Ed.

Principal

2
 ABSTRACT

The study investigates the patters, influence and motivations of daily allowance and saving

habits among grade 10 students of Rosebelle Academy of Tarlac, Inc., indicating that individuals who are

more financial literate, good financial management skills, and impressive parental influence may be

better equipped to manage their daily expenses and save effectively.

This study allows and teaches young individuals to become money-wise handlers as they grow

old, with some knowledge of using it properly to at least save up. Moreover, it has been observed that

students who possess adequate financial support, sufficient funds or allowances, and cultivate

commendable financial habits tend to exhibit more effective savings practices compared to individuals

with a less favorable mindset and detrimental spending habits. This phenomenon underscores the

significant influence of financial stability, prudent money management, and behavioral tendencies on the

ability to save effectively. Such findings underscore the importance of instilling sound financial principles

and fostering responsible spending behaviors among students, as they play a pivotal role in shaping long-

term financial resilience and security. 78 grade 10 students are being investigated through the use of an

online survey consisting of 14 research questions that answer the research problem.

3
 ACKNOWLEDGEMENT

This research becomes a reality with the mind support and help of many individuals. We would

like extend our sincere thanks to all of them.

Foremost, we want to offer this endeavor to our God Almighty for the wisdom. He bestowed

upon us, the strength and good health in order to finish this research.

Special recognition is given to the following:

To our research adviser and 3 I’s teacher, Ms. Denice Jean Gabuya, for the intellectual expertise

and support in the preparation and completion of this work, and for inspiring us to do better and pushing

us to our limits. She made us realize that the challenges upon doing this matter has brought good results.

Her encouragement to make us strong to pursue this paper is valuable upon the completion of this paper:

To the chairman of the the thesis committee, Ma. Venus B. Tolentino, M.Ed., for the approval of

this study;

To our research validators, Mr. Timothy John R. Balmores, Ms. Rochelle S. Alvaro, and Ms.

Daniella Sagun, for their comments and suggestions in validating the reliability of our study;

To our statistician, Mr. John Marc Millo, for helping with computing and interpreting the

statistics of the data;

To our dearest participants , for the cooperation and time to answer the researchers questionnaire;

To our families, who served as our inspiration and for the encouragement which helped us to

pursue this undertaking.

Ligorio Abana Jr Kenneth Andrew Galindo Trixie Ann Dizon

Yuki Pandili Ericka D. Mallari Camille Joy Pineda

Ariana Villegas Clyde Nicole Gasmido Denver Sosa

4
 Dedication

This work is wholeheartedly dedicated:

To our Almighty God,

We thank for the Supremacy and to the Redeemer of our Soul.

To our Parents,

for their endless love, support and encouragement throughout our pursuit for education.

To our Teachers,

who thought of and guided us for our near future.

To our Friends and Classmates,

who shared their words of advice and encouragement that helped us be motivated to finish this research

To our Groupmates,

for working as a team and helping each other to finish this research

5
 Page
Preliminaries

TITLE PAGE ……………………………………………………………………………………..

APPROVAL PAGE ……………………………………………………………………………..
ABSTRACT …………………………………………………………
ACKNOWLEDGEMENT ………………………………………….
DEDICATION ……………………………………………………….
TABLE OF CONTENT ……………………………………………
LIST OF TABLES ……………………………………………….
LIST OF FIGURES ……………………………………………….

Chapter

1. INTRODUCTION

Background of the Study/Problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Conceptual Framework . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Statement of the Problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Significance of the study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Scope and Delimitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Definition of Terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2. METHODOLOGY

Research design . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Population . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Sampling Method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Data Collection Procedure . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . .

3. RESULTS AND ANALYSIS

6
 Interpretation of Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Data Analysis Method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4. DISCUSSION

Summary of Findings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Recommendations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

References . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

APPENDICES

Permit to Conduct the Study ………………………………………………

Pictures while conducting the study ……………………………………….

7
 THE PROBLEM AND ITS BACKGROUND

INTRODUCTION

In this chapter, the research study's problem and introduction are presented. It also includes a
definition of each term and information about the conceptual framework, importance of the study, scope,
and delimitation.

Background of the Study

Financial literacy is a crucial skill for navigating the complexities of modern life, yet it remains a
challenge for many, particularly among the youth. In the Philippines, where economic realities intersect
with a young population eager to shape their futures, understanding the financial habits of students is
paramount. This study focuses on Grade 10 students at Rosebelle Academy of Tarlac, Inc., delving into
their allowance and savings habits to uncover patterns, influences, and motivations. Despite the
recognized importance of financial literacy, there is a notable gap in understanding how Grade 10
students manage their daily allowances and savings. This research seeks to bridge that gap by examining
the spending patterns, saving behaviors, and factors that shape financial decision-making among Filipino
youth. By doing so, it aims to provide valuable insights for educational institutions and policymakers to
design interventions that enhance financial management skills and empower young individuals to make
informed choices.

Students in the Philippines have various distinct ways or habits of using their own money in their
daily expenses. Studying students’ financial saving habits has become increasingly important in the
dynamic educational scene. This study investigates the patterns, influence, and motivation of saving
practices among Grade 10 A and B students in Rosebelle Academy of Tarlac, Inc. As financial literacy
becomes more prominent in academic discourse, understanding these probable factors of students'
proclivity to save money do provides significant insights. The purpose of the study is to gain insights into
the spending and saving habits of Grade 10 students at Rosebelle Academy of Tarlac, Inc., in order to
enhance their financial skills. By understanding their patterns, influences, and motivations related to
allowance and savings, the study aims to inform educational and policy interventions aimed at improving
financial management skills among students. Through a focused analysis, we hope to contribute to the
larger conversation around student financial well-being, opening the path for informed interventions and
educational opportunities.

Obagbuwa and Kwenda (2020) found that financial attitude significantly influences students'
spending habits. Mohd Rasid (2023) noted a significant effect between financial literacy, people's
8
surroundings, and spending habits. According to Jeetendra Dangol & Saru Maharjan (2018), there is a
significant influence of peer influence on saving behavior and spending habits. Similarly, there is a
delicate correlation between parental financial teaching and saving behavior. This statement was further
supported by Evgenii Gilenko & Aleksandra Chernova (2021), who emphasized that the habit of saving
takes quite some time to develop, indicating that it is better to start cultivating it from a young age. As
stated by Polo, A., & Nano, D. (2015), one of the factors revealed to influence students' money
management practices is school. The financial knowledge and training gained during university studies
are supposed to equip students with the necessary knowledge and attitude towards financial issues.

In this research, it explores the influence of financial resources to financial practices and habits of
Grade 10 students, the primary target is to unveil patterns and effects that may influence financial
practices among this specific demographic. The respondents, Grade 10 students, become crucial
participants in this study as their spending habits are under scrutiny. The research aims to analyze how the
amount of daily allowance impacts the students' spending choices. By surveying a representative sample
of Grade 10 students, the goal is to identify trends, preferences, and potential financial challenges.
Understanding the effects of financial resources to financial practices can offer insights into financial
literacy levels among the students and provide valuable information for educators and parents alike.
Through structured surveys and interviews, the study seeks to gather quantitative and qualitative data,
allowing for a comprehensive analysis of the factors influencing spending behaviors within this age
group. The findings may contribute to developing targeted financial education programs and strategies to
empower Grade 10 students in making informed and responsible financial decisions as they navigate their
teenage years.

Conceptual Framework
The general aim of this paper is to understand the patterns, influences, and motivations of daily
allowance and saving habits

INPUT PROCESS INPUT

• Parental • Budgeting skills • Spending
Influence Patterns
• Peer Influence • Financial
• Saving
• Personal Knowledge Behaviors
Attitudes • Financial
• Financial • Financial
Management
Literacy
Confidence Skills
Programs

Figure 1. Paradigm of the study

9
In this IPO model:
Inputs represent the factors or influences that contribute to students' allowance and savings habits.
Process refers to the internal mechanisms or actions taken by students based on the inputs received.
Outputs are the observable outcomes or behaviors resulting from the combination of inputs and
processes.

This simplified framework provides a clear overview of the components involved in understanding and
analyzing grade 10 students' allowance and savings habits at Rosebelle Academy of Tarlac, Inc. It can
serve as a basis for structuring research methods and analyzing data to achieve the study's objective.

Statement of The Problem

Despite the importance of financial literacy, there is limited understanding of how grade 10 students
manage their daily allowance and savings. This study aims to investigate the spending patterns, saving
behaviors, and influencing factors among grade 10 students of Rosebelle Academy of Tarlac, Inc., to
provide insights for educational and policy interventions aimed at improving financial management skills.

Especially, it aimed to answer the following questions:

1. How can understanding their spending and saving habits help improve their financial skills?
2. What are the primary factors influencing grade 10 students' spending decisions in Rosebelle Academy
of Tarlac, Inc.
3. How do grade 10 students typically spend their daily allowance?

Significance of the Study

The significance of this study lies in its potential to contribute valuable insights into the financial
behaviors and attitudes of Grade 10 students at Rosebelle Academy of Tarlac, Inc. Understanding how
these students manage their daily allowance and savings is crucial for several reasons:

Students - this study will be beneficial to students, specially those who are trying to manage their
financial habits very well and to let these students know the real value of a hard earned money.
Parents - it enables parents to budget for their kids' future financial requirements, including housing,
schooling, and unforeseen costs. This kind of forethought helps build up a safety net of money to lessen
the effects of unforeseen circumstances.
10
Financial Literacy Teachers - This study will be beneficial for the Financial Literacy teachers as it
would give them ideas on what to teach their students to become successful in handling money in the
future.
Future researchers - This will help the future researchers from this academic paper by having a
comparable study to base their own research on, results to help them anticipate possible outcomes, and
studies to add to their body of related literature.

Scope and Delimitation

The scope of this study will focus on Grade 10 students at Rosebelle Academy of Tarlac, Inc.,
delving into their daily allowance and savings habits. It will examine how students allocate their
allowance across various expenses, their saving behaviors, and the influencing factors such as peer and
parental influence. The study will utilize survey questionnaires and potentially interviews to gather data,
aiming to provide insights into the financial behaviors of Filipino youth and inform educational and
policy interventions for enhancing financial literacy skills among Grade 10 students.

The scope of this study is delimited to Grade 10 students enrolled during the academic year 2023-2024 at
Rosebelle Academy of Tarlac, Inc., thereby excluding students from other grade levels and schools.
Additionally, the study will focus solely on understanding students' daily allowance and savings habits,
without delving into broader financial literacy topics or other aspects of personal finance. Furthermore,
the study's findings may be influenced by factors such as the cultural and socioeconomic background of
the participants, which will be considered within the analysis but not extensively explored. Lastly, the
study's conclusions will be limited to the specific context of Rosebelle Academy of Tarlac, Inc., and may
not be generalize to other educational institutions or regions without further research validation.

Definition of Terms
In order to enhance comprehension of the study, the following terms below are technically and
operational defined below:

Allowance. Is the amount of something that is permitted, especially within a set of regulations or for
a specified purpose. It refers to money given in any amount to be used by a person such as a student,
like the grade 10 students of Rosebelle Academy of Tarlac, Inc., for their daily expenses inside the
campus.

Budget. An estimate of income and expenditure for a set period of time. It is a detailed plan of
students especially the grade 10 students of Rosebelle Academy of Tarlac, Inc., that outlines estimated
11
income and expenses over a specific period. It helps individuals or organizations manage their finances
effectively.

Financial Management. Is all about monitoring and controlling the daily allowance of the students.
It refers to the nature or attitude of students toward spending money.

Influence. Is the capacity to have an effect on the character, development, or behavior of someone or
something, or the effect itself. In this study, it refers to people or things that affect the spending and
saving of money by grade 10 students

Motivation. Is the general desire or willingness of someone to do something. it refers to the things
that motivate grade 10 students so that they can perform the proper handling of money

Literacy. Is the ability to read, write, speak and listen in a way that lets us communicate effectively
and make sense of the world. This is the knowledge and awareness of grade 10 students on money
matters.

Pattern. Is a repeated decorative design. In this study, pattern refers to how they spend their money
and save.

Saving Habits. Are the various ways that you regularly spend your money. Students may be good,
bad or neutral.

Spending Habits. Refer to the patterns and behaviors individuals exhibit when it comes to their
expenditure of money. It refers to the financial practices of grade 10 students on how they manage
to spend from their daily allowance

12
 METHODOLOGY

The research methods and procedures employed in this study are described in this chapter. The
sample and population, the method of sampling, and the procedure for gathering data were all covered.

Research Design
The research titled "Understanding the Allowance and Saving Habits of Grade 10 at Rosebelle
Academy of Tarlac, Inc.: Patterns, Influences, and Motivations" seeks to address the limited
understanding ofhow grade 10 students manage their daily allowance and savings. Through a quantitative
and descriptive research design, the study aims to provide insights into spending patterns, saving
behaviors, and influencing factors among Filipino youth. By administering a survey questionnaire to a
larger sample of grade 10 students and analyzing the responses using descriptive statistics, the research
aims to identify trends in financial decision-making. Additionally, the descriptive method will offer a
detailed reflection of the present state of phenomena, providing a comprehensive understanding of the
subject. Ultimately, the findings from this study can inform educational and policy interventions aimed at
improving financial management skills among youth.

Population
The population in the study entitled “Understanding the Allowance and Saving Habits of Grade 10
at Rosebelle Academy ofTarlac, Inc. : Patterns, Influences, and Motivations,” comprises the two sections
of grade 10 at Rosebelle Academy of Tarlac, Inc. Specifically, Grade 10 A, consisting of 44 students, and
Grade 10 B, consisting of 34 students, who are currently enrolled in Rosebelle Academy of Tarlac, Inc.,
for the academic year 2023-2024. The data collection process will be deemed sufficient if responses fall
within the range of44 responses as determined by Slovin's formula.

Sampling Method
The researchers employed simple random sampling in the research due to its well-known reliability
and relevance to their study goals. In this method, units were selected without the involvement of
complicated techniques. The principle behind simple random sampling was that it guaranteed each
element in a population an equal opportunity to be chosen, which was very helpful in creating a sample
that truly represented all members of the population. This helped reduce biases and increased the
confidence level with which generalizations about the findings could be made.

The researchers used probability sampling design to ensure that each member of the population had
a known chance of being included in the sample. This method provided researchers with a representative

13
sample, allowing them to generalize their findings to the larger population with greater accuracy and
reliability.

Samples and Sampling Technique

Seventy-eight (78) grade 10 students are taken as respondents of the study were chosen through
performing a subgroupings . This is utilize since the students are heterogeneously group by section. The
sample was determined by Slovin's formula with a 10% margin of error or

N
n= 2
1+ Ne

= 78 / 1 +(78)(0.5)²
= 65.272
Where: N = 78
e = 5% or 0.5% margin of error
n = 65
Let N be the population size and the margin of error e denotes the allowed probability of committing an
error in selecting a small representative of the population. The sample size n can be obtained by the
formula.

Data Collection Procedure

For the study, the data collection procedure involved a combination of quantitative research design
and other methods to comprehensively understand grade 10 students' allowance and savings habits at
Rosebelle Academy of Tarlac, Inc. Information was gathered directly from the students through surveys
and interviews, with the potential utilization of secondary data sources such as financial records or school
policies.

The researchers initiated the process by writing a permission letter to their principal, Mrs. Ma.
Venus B. Tolentino, seeking approval to conduct a survey. Subsequently, Ms. Denice Jean Gabuya
reviewed the questionnaire before its administration. Following this, the researchers approached all the
advisers of the grade 10 students, including their advisory teachers, to seek permission to gather data from
their students. Upon obtaining permission, the researchers proceeded to seek approval from the grade 10
students themselves. They provided explanations about the questionnaire, ensuring the students
understood the survey they were participating in.

14
 Finally, the researchers observed the selected respondents, encouraged them to complete the
provided questionnaire for the study, and ensured that all questions that were not understood were
properly explained by the researchers.

Data Analysis
This study aims to determine the effects of social groups to financial practices among grade 10
students at Rosebelle Academy of Tarlac, Inc. A survey questionnaire consisting of 14 questions,
including items related to financial practices and peer influence on savings, was utilized. The
questionnaire responses ranged from 14 (always) to 10 (often) and 18 (sometimes) to 0 (never). Higher
scores indicated that a majority of grade 10 think about their daily allowance sometimes, reflecting their
efforts to become financially literate and improve financial practices. Hence, to measure the impact of the
financial resources and financial practices of the grade 10 students, the researcher conducted a survey.
Additionally, Republic Act No. 10173 of 2012 has been applied, and in this study, the principles and
standards for personal data protection were introduced. The researchers ensured confidentiality and did
not publish information that could identify the participants.

15
 RESULT AND DISCUSSION

This section presents the analysis and interpretation of the study on the "Understanding the
Allowance and Saving Habits of Grade 10 at Rosebelle Academy of Tarlac, Inc. : Patterns, Influences,
and Motivations," following the quantitative methodology. The content of this chapter are the responses
of the respondents gathered through survey methods.

Demographic Profile of Respondents

Table 1.1 Demographic profile of Respondents

Demographics Number of Respondents Percentage

Age

15 years old 25 38.46%

16 years old 35 53.85%

17 years old 5 7.69%

This section presents the age and sex of the grade 10 respondents of Rosebelle Academy of Tarlac, Inc.,
that have answered the given survey. Table 1 shows the corresponding profiling provided for the research
undertaken.The survey was completed garnering 44 grade 10 members in accordance with the given
sampling technique provided on methodologies, the Slovin’s formula. Of the 44 students, 45.45% or 20
respondents are 15 years old, 50% or 22 respondents are 16 years old, and 4.55% or 2 respondents are 17
years old.

16
 Table 1.2 Demographic profile of Respondents

Demographics Number of Respondents Percentage

Sex

Male 35 53.85%

Female 30 46.15%

Respondents were also asked to identify their sexuality and of those answers 54.76% or 23 respondents
were male, and 45.24% or 19 respondents were female.

Table1.3 Demographic profile of respondents

Demographics Number of Respondents Percentage

Grade level & Section

Grade 10 A- Excellence 34 52.31%

Grade 10 B-Amity 31 47.69%

The survey to Grade 10 students revealed a notable contrast in section distribution. Grade 10 A-
Excellence accounted for approximately 65.91% or 29 respondents, while Grade 10-Amity comprised
around 34.09% or 15 respondents

17
Average daily allowance of grade 10 students
Table 2. Average daily allowance of grade 10 students

Daily allowance Number of Respondents Percentage

20 5 7.69%

50 15 23.08%

80 5 7.69%

100 18 27.69%

120 2 3.08%

150 10 15.38%

200 8 12.31%

400 1 1.54%

500 1 1.54%

The survey on Grade 10 students' daily allowances and savings habits at Rosebelle Academy of Tarlac,
Inc. revealed a diverse range of financial situations among the students. The most common allowance
reported was 100 pesos, indicating modest financial resources for many students, while some had access
to slightly higher amounts like 200 pesos. This diversity emphasizes the need for personalized financial
education programs tailored to individual financial contexts. Additionally, the survey highlighted varied
spending patterns among students, underscoring the importance of promoting financial literacy and
developing interventions that address students' specific needs and preferences.
18
Typical expenditures of grade 10 students
Table 3. Typical expenditures of grade 10 students

Number of respondents Percentage

Food and snacks 44 28.57%
Transportation 23 14.94%
School supplies 40 25.97%
Personal items (e.g., 29 18.83%
toiletries)
18 11.69%
Entertainment (e.g.,
movies, games)

The survey data from Grade 10 students at Rosebelle Academy of Tarlac, Inc. reveals a conscientious
approach to spending, with a significant portion of their budget allocated towards essential items like
food, snacks, and school supplies, indicating a prioritization of basic needs and academic requirements.
Additionally, expenditures on personal items demonstrate a consideration for self-care and well-being.
However, there's a lesser emphasis on transportation and entertainment, suggesting that students prioritize
academic and daily living needs over leisure activities. These findings underscore the importance of
financial literacy education in equipping students with the skills necessary for responsible financial
management, allowing them to make informed decisions about their spending habits both now and in the
future.

Average amount they save every day from their daily allowance
Table 4. Average amount they save every day from their daily allowance
Daily savings in (PHP) Number of respondents Percentage
none 13 20%
10-15 2 3.08%
20 15 23.08%

30 11 16.92%
40 1 1.54%
50 14 21.54%
100 8 12.31%
150 1 1.54%

The survey data on Grade 10 students' allowance and savings habits at Rosebelle Academy of Tarlac, Inc.
illuminates a diverse landscape of financial behaviors among Filipino youth. While a notable portion of
19
students reported not saving any money daily, indicating a need for improved financial literacy and
awareness, there is also evidence of commendable commitment to savings among some students, with
significant sums like 100 PHP being set aside regularly. Understanding the factors driving these savings
decisions, whether familial, peer-related, or personal, is crucial for designing effective financial education
interventions. By equipping students with the necessary knowledge and skills to make informed financial
decisions, educators and policymakers can foster a culture of responsible financial management and
savings, setting students on a path towards long-term financial stability and preparedness.

Savings aside from daily allowance

Table 5. Savings aside from daily allowance
Number of Respondents Percentage
Students that have savings 35 53.85%
aside from their daily
allowance
Students that have no 35 46.15%
savings aside from their
daily allowance

Based on the survey data, a significant majority of Grade 10 students (53.85%) reported having savings
aside from their daily allowance. This indicates a commendable financial habit among the surveyed
cohort, demonstrating their proactive approach towards financial planning and saving for the future.
However, it's notable that a portion of students (46.15%) reported not having savings, suggesting a need
for further education and support in financial literacy to empower all students with the necessary tools
and knowledge to manage their finances effectively. Overall, the findings underscore the importance of
promoting responsible saving habits among Grade 10 students to instill lifelong financial competence and
preparedness.

Mediums of saving money effectively

Table 6. Medium of saving money effectively
Number of Respondents Percentage

Piggy banks 15 23.03%

Savings account 15 23.03%
Cash at home 35 53.85%

20
The survey results illuminate the varied approaches Grade 10 students undertake in saving money,
reflecting distinct preferences and habits among respondents. The predominant choice of storing savings
in cash at home, indicated by 60.34% of participants, underscores a reliance on immediate accessibility
and tangible assets. Conversely, the utilization of piggy banks, noted by 24.14% of respondents,
highlights a traditional and tactile method of financial management. Interestingly, a smaller yet
noteworthy percentage (15.52%) opt for savings accounts, indicating an appreciation for the security and
growth potential offered by formal banking systems. These findings underscore the complexity of
financial decision-making among Grade 10 students and suggest avenues for promoting financial literacy
and encouraging diversified saving strategies to foster long-term financial security and prosperity.

Motivations to save money

Table 7. Motivations to save money
Number of Respondents Percentage
Future expenses (e.g., 25 26.88%
college, travel)
Emergency fund 18 19.35%
To buy something specific 41 44.09%
9 9.68%
Family expectations

The survey data provides valuable insights into the anticipated future expenses and financial priorities of
Grade 10 students. Among the respondents, the majority expressed intentions to allocate their savings
towards specific purchases, accounting for 44.09% of the surveyed cohort. This suggests a focus on short-
term goals and tangible acquisitions, reflecting a desire for immediate gratification or practical
necessities. Additionally, a notable proportion earmarked their savings for future expenses such as college
or travel, comprising 26.88% of respondents, indicating forward-thinking and aspirations for personal
growth and exploration. Meanwhile, a smaller yet significant percentage allocated funds to an energy
fund, reflecting a commitment to preparing for unforeseen financial challenges or emergencies. Lastly,
family expectations emerged as a factor influencing financial decisions for a minority of respondents,
underscoring the importance of familial obligations and responsibilities in shaping financial priorities.
Overall, the findings highlight the diverse perspectives and considerations guiding Grade 10 students'
financial planning, emphasizing the need for tailored financial education to support their varied goals and
aspirations.

Level of confidence in ability to save money

Table 8. Level of confidence e in ability to save money
Number of Respondents Percentage
1 (not confident at all) 0 0%
21
 2 15 23.08%
3 8 12.31%
4 7 10.77%
5 (very confident at all) 35 53.855

The survey findings among Grade 10 students at Rosebelle Academy of Tarlac, Inc. regarding their
confidence in saving money provide valuable insights into the complexity of financial attitudes and
literacy levels among Filipino youth. The nuanced landscape of attitudes, with a significant portion
expressing moderate levels of confidence but also notable percentages indicating both high and low levels
of confidence, highlights the diverse range of perspectives within the student demographic. These
findings underscore the importance of tailored educational initiatives to address the varying needs of
students, whether they require support in building confidence or additional guidance to enhance their
financial capabilities. By understanding the factors influencing students' confidence levels and providing
targeted interventions, educators and policymakers can effectively promote financial literacy and cultivate
responsible financial behaviors among Grade 10 students, setting them on a path towards long-term
financial well-being and success.

Attention span given by grade 10 students

Table 9. Attention span given by grade 10 students
Number of Respondents Percentage
Always 14 21.54%
Often 16 24.62%
Sometimes 20 30.77%
Rarely 15 23.08
Never 0 0%

The data collected on Grade 10 students' consideration of their daily allowance at Rosebelle Academy of
Tarlac, Inc. paints a picture of varying levels of financial consciousness among the student body. The
majority of students fall into the categories of sometimes, always, or often thinking about their daily
allowance, indicating a significant portion of the cohort is mindful of their financial resources on a regular
basis. This suggests a degree of financial responsibility and awareness among these students, as they
actively consider how to manage their allowance. However, the presence of a small percentage of
students who rarely think about their daily allowance highlights a potential area for concern, as it may
indicate a lack of awareness or engagement with their financial situation. Educators and policymakers can
use these insights to tailor financial literacy interventions to address the needs of students who may
22
require additional support in developing responsible financial habits and decision-making skills. By
fostering a culture of financial mindfulness and providing resources for effective budgeting and financial
planning, schools can empower Grade 10 students to make informed decisions about their spending and
saving habits, laying the foundation for their future financial well-being.

Encouragement provided by parents of grade 10 students

Table 10. Encouragement provided by parents of grade 10 students
Number of Respondents Percentage
Yes 31 47.69%
No 19 29.23%
Maybe 15 23.08%

The findings regarding the attitudes of guardians or parents towards encouraging Grade 10 students at
Rosebelle Academy of Tarlac, Inc. to save money provide valuable insights into the role of family
influence on financial habits. The significant majority of guardians or parents expressing encouragement
towards saving money for their children reflects a positive trend towards instilling financial responsibility
and foresight from an early age. This parental support can play a crucial role in shaping students' attitudes
towards money management and fostering a culture of saving for future goals. However, it's noteworthy
that a smaller percentage of guardians or parents do not actively encourage saving, indicating potential
variations in financial attitudes within households. Educators and policymakers can leverage these
insights to collaborate with families in promoting financial literacy initiatives that reinforce the
importance of saving and provide practical strategies for both guardians/parents and students to cultivate
healthy saving habits. By harnessing familial support and aligning educational efforts with household
values, schools can effectively nurture a generation of financially empowered Grade 10 students who are
equipped with the skills and mindset needed for lifelong financial well-being.

Influence of parents and classmates to students

The influence of parents on Grade 10 students' saving habits is paramount. By consistently advocating for
financial prudence and demonstrating responsible money management, parents play a crucial role in
shaping their children's attitudes towards saving. Whether through setting aside funds for essential
expenses, instilling restraint in spending, or emphasizing the importance of building a financial safety net,

23
parents provide invaluable guidance that prepares students for future financial challenges. By
internalizing these lessons, Grade 10 students can develop lifelong habits of fiscal responsibility and
ensure their financial security in the years to come.

Things to add about daily allowance or savings habits

In summary, the guidance provided by their parents has laid a solid foundation for their financial
responsibility. Despite the temptation of immediate indulgence, they steadfast in their commitment to
prioritizing saving for the future. This includes exploring the possibility of a higher daily allowance to
address the growing expenses associated with transportation and other necessities. Furthermore, the
respondents recognize the importance of exercising prudence in spending and surrounding myself with
peers who share similar financial values. By adhering to these principles, they will become confident in
navigating the complexities of personal finance and ensure a secure financial future for myself.

24
Summary of Findings

The researchers summarized the findings based on the provided statement of the problem (SOP) and the
corresponding questions:

1. Understanding Spending and Saving Habits:

- The majority of Grade 10 students at Rosebelle Academy of Tarlac, Inc. exhibit varying levels of
consciousness regarding their daily allowance, with a significant portion (40.9%) thinking about it
sometimes, followed by those who always (31.8%) or often (22.7%) consider it. Only a small
percentage rarely think about it (4.5%), indicating a need for increased awareness and engagement
with financial resources among some students. Students often face the challenge of balancing their
academic responsibilities with personal financial obligations. This delicate juggling act requires them
to prioritize their expenditures, allocating funds for essential school needs such as foods and snacks,
school supplies and specific stuffs, while also managing personal expenses like transportation,
entertainment, and leisure activities. This balancing act can vary greatly depending on individual
circumstances, such as whether they work part-time, receive financial aid, or have support from
family members. In essence, students must navigate a complex financial landscape to ensure they
meet both their academic requirements and personal needs effectively.

2. Primary Factors Influencing Spending Decisions:

- Data on the attitudes of guardians or parents towards encouraging their Grade 10 children to save
money reveal a positive trend, with approximately 70.5% expressing support for saving. This
underscores the influential role of family in shaping students' financial behaviors and highlights the
importance of parental involvement in promoting saving habits among youth.

3. Typical Spending of Daily Allowance:

25
 - Analysis of Grade 10 students' typical spending of their daily allowance shows a diverse range of
expenditure patterns. The most common allowance reported is 100 pesos, with a notable proportion
also receiving 200 pesos. Students allocate their allowances towards essentials like food, snacks, and
school supplies, demonstrating responsible prioritization of basic needs and academic requirements.
However, there is also allocation towards personal items, indicating consideration for self-care and
well-being. In summary, the findings highlight the complex interplay of individual, familial, and
societal factors influencing Grade 10 students' spending and saving behaviors at Rosebelle Academy
of Tarlac, Inc. While there is evidence of financial consciousness and parental support for saving,
there are also areas for improvement, such as increasing awareness of financial resources among
students and fostering a more holistic approach to financial literacy education that addresses both
spending and saving habits. These insights can inform tailored interventions aimed at promoting
responsible financial management skills and fostering a culture of financial empowerment among
Filipino youth.

Conclusion
In conclusion, the study on understanding Grade 10 students' allowance and savings habits at
Rosebelle Academy of Tarlac, Inc. sheds light on the multifaceted nature of financial behaviors
among Filipino youth. The findings reveal a diverse landscape of spending and saving habits,
influenced by individual attitudes, familial support, and societal norms. While many students
demonstrate a level of financial consciousness and receive encouragement from guardians or parents
to save money, there are also areas for improvement, such as increasing awareness of financial
resources and fostering a more comprehensive approach to financial literacy education. By addressing
these challenges and leveraging the supportive role of families, educators and policymakers can work
together to empower Grade 10 students with the knowledge and skills needed for responsible
financial management, ultimately laying the groundwork for their long-term financial well-being and
success.

Recommendation
The following recommendations are developed after carefully reviewing and taking into account the
aforementioned findings and research conclusion:

26
 1. Students ought to allocate their daily allowance wisely, create a budget, prioritize saving, resist
impulse purchases, and utilize financial literacy resources. Start small and gradually increase savings
over time. Consider whether their purchases align with financial goals and use financial literacy
workshops to make informed decisions about budgeting, banking, and investing.

2. Teachers and schools ought to incorporate financial literacy instruction across disciplines, use practical
examples, provide resources, encourage students to examine their attitudes, and create a welcoming
environment for critical thinking and problem-solving. This will help students develop their financial
skills and make informed decisions.

3. Guardians and parents ought to serve as role models, demonstrating responsible financial habits and
emphasizing saving. Involve children in household finances discussions, offer guidance, and encourage
open communication. Teach financial literacy concepts, provide age-appropriate resources, hold children
accountable, and offer praise for responsible behavior. Support financial goals by offering additional
income opportunities and encouraging savings.

27
References

Obagbuwa, O., & Kwenda, F. (2020). Determinants of students’ spending habits: A case study of students
at a premier university of african scholarship. African Journal of Business and Economic Research,
15(4), 25–43. https://doi.org/10.31920/1750-4562/2020/V15N4A2

Mohd Rasid, M. F. R. (2023). The Antecedents of Food Spending Habits among University Students.
Journal of International Business, Economics and Entrepreneurship, 8(2), 89–97.
https://doi.org/10.24191/jibe.v8i2.24128

Dangol, J., & Maharjan, S. (2018). Parental and peer influence on the saving behavior of the youth. The
International Research Journal of Management Science, 3, 42-63.
http://ncm.edu.np/wp-content/uploads/2018/12/Parental-and-peer-influence.pdf

Polo, A., & Nano, D. (2015). THE ROLE OF UNIVERSITY ON STUDENTS MONEY MANAGEMENT
PRACTICES. Regional Science Inquiry, 87-96. https://www.semanticscholar.org/paper/THE-ROLE-OF-
UNIVERSITY-ON-STUDENTS-MONEY-MANAGEMENT

Evgenii Gilenko, Aleksandra Chernova, (2021). Saving behavior and financial literacy of Russian high
school students: An application of a copula-based bivariate probit-regression approach, Children and
Youth Services Review, Volume 127, 2, 0190-7409. https://doi.org/10.1016/j.childyouth.2021.106122

28
Appendices

29
\

March 05, 2024

Dear Ma’am Daniella A. Sagun,

Warmest Greetings!
We would like to ask your permission to allow us to survey in the academy. This is given
in our study, entitled, “The Correlation Between Daily Allowance and Savings of Grade
10 Students of Rosebelle Academy of Tarlac, Inc”. We are surveying among grade 10
students, including your advisory class, grade 10-A. Attached herewith is the survey
questionnaire for this study.

The purpose of this research is to investigate the delicate interplay between financial
resources and saving practices and to shed light on probable factors impacting the
financial decisions of Grade 10 students during their formative years.

If you agree, kindly sign below acknowledging your consent and permission for us to
conduct this study/survey at your section, and return the signed form on an enclosed
envelope.

Your approval to conduct this study will be greatly appreciated. Thank you in advance for
your interest and assistance with this research.

Sincerely:
Ligorio G. Abana Jr
3 I’s Group 1 leader

Approved by:
Daniella A. Sagun
Grade 10-B adviser

30
March 05, 2024

Dear Ma’am Edna Liwliwa Gabuyo,

Warmest Greetings!
We would like to ask your permission to allow us to survey in the academy. This is given
in our study, entitled, “The Correlation Between Daily Allowance and Savings of Grade
10 Students of Rosebelle Academy of Tarlac, Inc”. We are surveying among grade 10
students, including your advisory class, grade 10-B. Attached herewith is the survey
questionnaire for this study.

The purpose of this research is to investigate the delicate interplay between financial
resources and saving practices and to shed light on probable factors impacting the
financial decisions of Grade 10 students during their formative years.

If you agree, kindly sign below acknowledging your consent and permission for us to
conduct this study/survey at your section, and return the signed form on an enclosed
envelope.

Your approval to conduct this study will be greatly appreciated. Thank you in advance for
your interest and assistance with this research.

Sincerely:
Ligorio G. Abana Jr
3 I’s Group 1 leader

Approved by:
Edna Liwliwa Gabuyo
Grade 10-B adviser

31
March 05, 2024

Dear Ma’am Denice Jean Gabuya,

We hope this letter finds you well. we are writing to request your approval to conduct a
survey entitled "The Correlation Between Daily Allowance and Savings of Grade 10
Students of Rosebelle Academy of Tarlac Inc." as part of our research study.

The purpose of this survey is to investigate the relationship between the daily allowance
provided to Grade 10 students and their savings habits. By collecting data through a
questionnaire, we aim to analyze the spending and saving patterns of students within our
school community.

We believe that this study will not only contribute valuable insights into the financial
behaviors of students but also provide practical implications for financial education and
management within our institution.

The survey will be administered anonymously and will adhere to ethical guidelines
ensuring confidentiality and privacy of participants' responses. We will handle the data
with utmost care and professionalism.

We kindly request your permission to distribute the survey questionnaire to Grade 10

students during an appropriate class period. We assure you that this research will be
conducted with diligence and integrity, and we will comply with any additional
requirements or guidelines you may have.

Thank you for considering our request. We are eager to commence this study and believe
it will be a valuable addition to our academic pursuits.

Sincerely:
Abana, Ligorio Jr G.

Dizon, Trixie Ann Joy

Galindo, Kenneth Andrew

Cotillion, Yuki P.

Villegas, Ariana
32
Pineda, Camille Joy

Sosa, Denver P.

Gasmido, Clyde Nicole

Mallari, Ericka

Approved by:
Ms. Denice Jean Gabuya
Research Teacher
Rosebelle Academy of Tarlac Inc.

33
34
35