Assessing the Financial Literacy Levels of

Senior High School Students in Tayug

Kingsville Advance School System

Presented to Mr. Randolph Glenn G. Tingco

In partial fulfillment for the requirements of Practical Research 1B

Researchers:

Viernes, Maximmin Alastaire P.

Sanchez, Kate Charish C.

Lacandula, Leonardo III C.

De Los Santos, Venz Rafael

Pajela, Pauleen M.

Bentillo, Aliyah Jane

Kingsville Advanced School Inc.

Manchester-I

1
Chapter 1:

The Problem and Its Background

This chapter addresses the following topics: introduction, conceptual framework,

assumption, statement of the problem, significance of the study, scope and delimitation,

and definition of terms: all of which are essential to introducing the core ideology of our

research.

Introduction:

Financial literacy is the cognitive understanding of financial components and

skills such as budgeting, investing, borrowing, taxation, and personal financial

management. The absence of such skills is referred to as being financially illiterate

(Team, 2023). Managing finances is a major problem for the people of the country. Most

people nowadays face difficulty in managing their finances, especially students.

According to (BSP Bridges Financial Literacy Gap Among Filipinos, 2023), the

Philippines is in the bottom 30 out of 144 countries in terms of financial literacy

according to a global study conducted by Standard and Poor’s [S&P Global Ratings],

while a BSP survey showed that only 1 percent of surveyed Filipino adults correctly

answered questions on financial literacy. This sparks concern as the financial literacy of

the people goes hand in hand with a country’s economic growth.

Being educated about how to spend and manage finances can help solve various

problems such as excessive and frivolous spending, lack of saving, too much debt,

unexpected expenses, etc. Therefore, the researchers want to assess the financial

literacy levels of the students to properly gauge their capabilities and produce policy

2
recommendations to enhance the financial literacy at the community level. The

"Economic and Financial Literacy (EFL Acie)," also known as Republic Act No. 10922,

mandates that awareness-raising and knowledge-expanding programs on economic

and financial literacy be arranged in all public and private elementary and secondary

schools under the Department of Education (DepEd), as well as state and private

colleges and universities under the National Youth Commission (NYC) and the

Commission on Higher Education (ICHED). Participating in forums, book corners,

training sessions, and introductory classes on financial and economic management are

some of these programs. Section 4 (Department of Education, 2021)

Conceptual Framework:

FACTOR ISOLATING QUESTIONS:

1.) To what extent are Kingsville Senior High School students aware of basic

financial concepts and terms:

1.1 Budgeting;

1.2 Savings;

1.3 Debt; and

1.4 Investment

IPO MODEL

3
 INPUT PROCESS OUTPUT

 Basic financial  Collecting data  The level of

concepts and through awareness of

terms; questionnaires, the Kingsville

a. Budgeting surveys, focus Students Senior

b. Savings groups and high school in

c. Debt discussions terms of basic

d. Investment  analysis and financial

 Assessing interpretation concepts and

Financial of data terms

Literacy  statistical  The range of

among the statement of how the

students data students

practice financial

habits

Figure 1. Input Process Output (IPO Model)

The researcher’s used the Input, Process, and Output (IPO Model). It contains all of the

resources and the information needed for the process, as well as exact details of the

process itself, and a guide for evaluating to Senior High School Students in Tayug

Kingsville Advance School Advance School System. The concept model, as shown in

4
Figure 1 shows the conceptual model. It demonstrates the process of determining how

much they know about financial planning and budgeting. Also, what challenges exist in

financial literacy education for Kingsville Senior High School students?

For the input, it contains the basic financial concepts and terms as well as information

regarding the educational studies. typically, all of the items indicated in the statement of

the problem are stimulated here.

For process, it includes the questionnaires that were utilized, the observations that were

made, the collection of data, and the statistical statement of data, analysis and

interpretation of data are also includes everything from the initial gathering of

information or data to the final results and recommendations of the educational

research.

For output, this includes the level of awareness of Kingsville senior high school students

in terms of financial concept and terms. From this, the researcher will develop

recommendations to help students improve their budgeting abilities and comprehend

crucial financial subjects such as saving and investing intelligently.

Assumptions

In studying financial literacy among senior high school students in Tayug

Kingsville Advance School System, the researchers are anchored to the assumption: -

That students from wealthier families might have better money skills than those from

less wealthy backgrounds. This could be because they have more access to financial

education and resources. - That students' financial habits will vary, with some students

5
practicing effective financial behaviors based on their knowledge, while others may

struggle to apply their financial knowledge in real-life situations. Students who actively

engage in extracurricular activities related to financial literacy, such as clubs or

workshops, may demonstrate higher levels of practical application. - That students who

actively engage in extracurricular activities related to financial literacy, such as clubs or

workshops, may demonstrate higher levels of practical application.

Statement of the Problem:

A major area of the research is examining the level of financial literacy among Tayug

Kingsville Advance School System senior high school students. Many students lack the

financial comprehension and abilities necessary to handle financial difficulties and make

wise choices.

It seeks to answer the following questions:

1. To what extent are Kingsville Senior High School students aware of basic financial

concepts and terms?

such as:

a.) budgeting

b.) savings

c.) debt

d.) investment

2. To what extent do Kingsville Senior High School students practice financial habits?

6
3. What challenges exist in financial literacy education for Kingsville Senior High School

students?

Significance of the Study

The result of this study will benefit the following:

Senior Highschool Students. This study will help to empower students to make

better financial decisions and improve their overall financial well-being. By gaining a

deeper understanding of financial concepts, students can effectively manage their

money, potentially reducing financial stress and securing their long-term financial

stability. Moreover, as students develop essential financial literacy skills like budgeting,

saving, and investing, they become more adept at making informed decisions about

their finances. This study will support educators or facilitators in improving their teaching

strategies and identifying the areas of financial illiteracy among students. By

understanding these gaps, facilitators can introduce innovative teaching methods and

resources to better engage students and help them understand financial concepts more

effectively. This encourages a more meaningful learning environment. Furthermore, it

allows facilitators to address these gaps more efficiently, ensuring that students receive

practical and relevant financial education.

Parents and Guardians. Understanding the financial literacy situation in schools

enables parents and guardians to work together with educators and push for better

financial education programs and tools. With the help of research findings, parents can

7
offer helpful advice and resources to assist their children in building crucial financial

skills and habits from an early age.

Researchers. Researchers can see what is happening with how students handle

money. This helps them understand what things affect how students manage their

money and lets them make plans to fix these problems. When they study how little

students know about money, researchers can find out what students really need to

learn. This helps with future studies and projects to help students get better at handling

money.

Future Researchers. The conducted studies will further open doors for future

researchers to refine and expand studies in relation to financial literacy. This study may

serve as a source of information about the financial literacy of senior high school

students in Tayug Kingsville Advance School System.

Scope And Delimitation

This research focuses on assessing the financial literacy levels of senior high school

students in the Tayug Kingsville Advance School System. This study’s feedback is only

limited to the students at senior high school students of the Tayug Kingsville Advance

School System. This group's researchers will ethnographically study, interview, and

observe their subjects and then compile the answers to learn more about the

respondents' concerns. The respondents of this research are the senior high school

students of Tayug Kingsville Advance School System.

The analysis, interview, and observation contain some questions about a student's

financial literacy and how much they know about finance and budgeting their allowance.

8
The researchers are determined to work on this study to find out how researchers can

enhance students when it comes to finances. After the analysis, interview, and

observation, the researchers will find a way how can they evaluate the students in terms

of finances and, to help future students who might experience this. Researchers are

eager to explore potential methods for evaluating students' financial literacy.

Definition of Terms

Adept. Skilled or proficient in a particular area, such as financial management.

Adaptation. The ability to adjust and respond effectively to changing circumstances,

particularly in the context of financial decision-making.

Assessment. The process of evaluating or appraising financial situations, performance,

or potential risks.

Assessing. The act of analyzing and determining the value, feasibility, or suitability of

financial options.

Compound Interest. Interest calculated on the initial principal as well as the

accumulated interest from previous periods.

Context. The circumstances or setting in which financial decisions are made,

influencing their outcomes.

Cognitive. Relating to mental processes, including perception, memory, and problem-

solving.

Educational Policies. Guidelines and rules set by educational institutions or authorities

to shape financial education and awareness.

Financial Components. The essential elements that make up the financial landscape,

such as income, expenses, assets, liabilities, and stability.

9
Financial Concepts. Fundamental principles and ideas related to finance, including

budgeting, risk management, and investment strategies.

Financial Literacy. The ability to understand and use various financial skills, including

budgeting, investing, and managing money effectively.

Financial Stability. The state of having a secure and consistent financial situation,

minimizing the risk of financial crises.

Frivolous Spending. Excessive and unnecessary spending on non-essential items or

services.

Gaps. Spaces or discrepancies in financial knowledge or understanding.

In-depth. Thorough and comprehensive understanding, particularly in the context of

financial knowledge.

Informed Decisions. Decisions are made with awareness and understanding of

relevant information and potential consequences.

Investing. Allocating money with the expectation of generating a profit or achieving

long-term financial goals.

Social Phenomena. Patterns of behavior or occurrences within a society, influencing

financial decisions and trends.

Suitability. The appropriateness or fitness of a financial strategy or product for a

particular individual or situation.

Taxation. The imposition of taxes on individuals or entities by a government to fund

public expenditure.

Empower. To equip or enable individuals with the knowledge and skills needed to make

informed financial decisions.

10
Reference List:

BSP bridges financial literacy gap among Filipinos. (2023). Philippine News Agency.

Comon, J. (2022). Social Support and Financial Literacy for Senior High School

Learners. SciMatic.

DO_s2021_022. (2021). deped.gov.ph.

Team, C. (2023, October 15). Financial literacy. Corporate Finance Institute.

11