FINANCIAL LITERACY OF SENIOR HIGH SCHOOL STUDENTS IN VALENCIA
NATIONAL HIGH SCHOOL
A Quantitative Research
presented to the Faculty of Senior High School
VALENCIA NATIONAL HIGH SCHOOL
Valencia City, Bukidnon
in partial fulfillment of the requirements in
INQUIRIES, INVESTIGATION IMMERSION
Berbigal, Althea Bea C.
Codilla, Keziah Cachrisya D.
Labrador, Julean C.
Magdato, Alessah Dane A.
Manangan, Ydrel Hope L.
Grade 12-ABM ADMIRABLE
Carl Raymond M. Rafanan
Sherlyn A. Dutosme
Research Adviser
March 2023
Chapter I
INTRODUCTION
Background of the Study
Financial literacy and money management skills are significant for every
individual, particularly senior high school students, as they transition into an ever-
changing economy. In a global study by Standard & Poor's [S&P Global Ratings], the
Philippines scored in the bottom 30 of 144 countries surveyed on financial literacy
(Medalla, 2022). The findings indicate a growing need for knowledge in the area of
financial literacy and calls for a demand to identify the need of financial literacy of
students as they develop their financial skills.
Moreover, financial literacy refers to the ability to understand and use
effectively the different financial skills such as saving, budgeting, and personal
management (Sujaini, 2023). Academic strand, on the other hand, include Science,
Technology, Engineering, and Mathematics (STEM), Accountancy, Business and
Management (ABM), Humanities and Social Sciences (HUMSS), and General
Academic Strand (GAS), where students can select their strand in relation to their
interests or career choices (Development Asia, 2019).
In the study of Dr. Lalosa (2020), entitled "Contributing Factors of Student’s
Financial Literacy in a State University in Eastern Philippines," it is shown that the
degree program is one contributing factor affecting students' financial literacy. There
were also a large number of students who had inadequate knowledge in terms of
financial literacy, even on the practical level of their daily activities. It shows that
although students tend to be academically prepared, they receive less guidance in
terms of financial literacy. Additionally, Abichuela (2020) revealed in her study
"Financial Literacy among CSU Students" that college students, besides those who
belong to the college of business and management, are neither skilled nor
knowledgeable about financial matters.
Related studies presented the factors affecting financial literacy and its effects
to students. Few studies, however, have particularly sought at senior high school
students' financial literacy levels, and any of the financial literacy studies that are
now available do not yet include the level of financial knowledge of academic strand
students as a variable. Additionally, the level of financial literacy of the students in
Valencia National High School is not yet known. Therefore, there is a need to
conduct this study to evaluate the financial literacy of senior high school students in
academic strand (STEM, ABM, HUMSS, and GAS) in Valencia National High
School.
Statement of the Problem
The study comparatively examined the level of financial literacy of the Senior
High School students enrolled in the academic strand of Valencia National High
School.
Specifically this study sought to answer the following questions:
1. What is the demographic profile of the students in terms of:
a. sex; and
b. academic strand
2. What is the level of financial literacy of students in:
a. STEM;
b. ABM;
c. HUMSS; and
d. GAS
3. Is there a significant relationship between the students’ financial literacy and
their academic strand?
Significance of the Study
This study aims to provide each individual the knowledge about the field of the
financial literacy that focuses on Senior High School Students in terms of their
chosen academic strand for their future advantages. In addition, any situation that is
pertinent to the study is generally beneficial to society. The following groups of
people greatly benefit from the study:
Junior High School Students can greatly benefit from the study in terms of
choosing their desired academic strand in the future. The results are able to give
them the idea of which track would make them more financially literate in terms of
spending, investing, budgeting and saving their money.
Teachers are also made aware of the information pertaining to the status of
their students in terms of financial literacy. Teachers are one of the most influential
people in our society and community. With right awareness, they will be able to
teach students and help them develop their attitudes toward handling money and
being a responsible citizen to the country and the society.
The community can benefit from the study through helping them recognize the
problem, if proven there is any. And lack of financial literacy will be addressed by
implementing various courses to prioritize learning about financial literacy and its
importance in the community.
The results of this study can help future researchers in the field of financial
literacy to vary with this study as a source of information, with references to the
factors used. These can be a guide for the development of future research of
researchers.
Scope and Limitation
The study used a descriptive-correlational research design which focused on
the relationship between grade twelve (12) Senior High School students of Valencia
National High School's academic strand and their financial literacy level according to
the PISA 2018 financial literacy survey. Quota random sampling was used in
determining the samples where grade twelve (12) Senior High School students were
asked to be the respondents for the study. The academic strands consist of four (4)
sections that were surveyed.
Furthermore, the study was limited to assessing the level of financial literacy
of the students and did not assess their financial behaviors or the application of their
literacy in finance. The financial literacy measurement is limited on the standards of
the PISA 2018 financial literacy survey.
Also, the relationship of the included variables are only studied and described
but the research did not explain and investigate the cause of the observed and
concluded relationship.
