i

Level of Financial Literacy of Senior High School Learners

A Research Study
Presented to
The Faculty of Senior High School
STI West Negros University
Bacolod City

In Partial fulfillment in the Requirements in

APPLIED 1014 (Practical Research 2)

Joaquin, Sheal
Buenaflor, Mary Joy
Amorin, Joyce Ruth
Candelario, Rhane Mitchelle
Juanillo, Ren
Villarin, Princess Joy
Caponpon, Earl
Malabanan, Paulene
Mo-ong, Marian
Sellon, Ij
Diopenes, Trixie

ABM 12-B

November 2024
 Table of Contents

Title Page i

Approval Sheet ii

Abstract iii

Acknowledgement iv

Dedication v

List of Tables and Figures vi

Chapter I – Introduction 1

Background of the Study 1

Statement of the Problem 2

Hypothesis 3

Assumptions 3

Study Variables, Indicators and Categories 3

Theoretical Framework 4

Conceptual Framework 5

Schematic Diagram 5

Scope of the Study 6

Significance of the Study 6

Definition of Terms 7

Chapter II – Review of Related Literature 10

Conceptual Literature 10

Foreign 10

Local 11

Research Literature 12
 Foreign 12

Local 12

Synthesis

Chapter III – Methodologies 15

Research Design 15

Locale of the Study 16

Respondents of the Study 16

Validity 17

Reliability 18

Data Gathering Procedure 19

Analytical Scheme 19

Chapter IV – Presentation, Analysis and Interpretation of

Data

Chapter V – Summary of Findings, Conclusions and

Recommendations

Summary of Findings

Conclusions

Recommendation
 ii

STATEMENT OF APPROVAL
 iv

Abstract
 iv

Acknowledgement

Dedication
 iv

List of Tables and Figures

 iv

Page
 1

Chapter I

INTRODUCTION

Background of the Study

Research consistently highlights the link between financial

literacy and financial well-being. Studies in the United States

demonstrate that individuals with higher financial literacy are more

likely to engage in positive financial practices, such as saving and

responsible debt management (Lusardi, A. & Streeter, J., 2023).

However, significant gaps in financial knowledge persist, particularly

among younger populations. Recent research by (Lusardi, A. 2023)

emphasizes students' difficulties in understanding key financial

concepts like budgeting, saving, and debt management. These

challenges often lead to impulsive spending and poor financial

decisions. Early financial education is crucial for fostering resilience

and informed decision-making.

A study by (Barrot et al. 2024) found that while teachers and

school leaders recognize the importance of integrating financial

literacy into the K-12 curriculum, challenges persist. These challenges

include insufficient teacher training, limited resources, and a lack of

engaging teaching materials, particularly for ABM students who need a

strong foundation in financial concepts for their careers. Despite these

obstacles, educators remain positive about incorporating financial

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literacy into the curriculum, highlighting the need for better support

and development to overcome these barriers.

This research aims to address the financial literacy gap among

senior high school students, who often lack the knowledge and skills

for informed financial decision-making.

This study aims to assess the financial literacy of senior high

school students by examining their ability to make informed financial

decisions and identifying their sources of financial knowledge. The

results will help create a financial stewardship plan to enhance

decision-making and promote financial independence.

Statement of the Problem

This study aims to determine the level of financial literacy among

Senior High School, Accountancy, Business and Management (ABM)

Learners in a private university a highly urbanize City in Negros

Occidental for the academic year 2024-2025.

Specifically, it seeks to answer the following questions:

1.) What is the profile of the respondents in terms of the following

variables:

a. Sex

b. Grade level

c. Average Family Monthly Income

2.) What is the level of financial literacy of respondents in terms of the

following areas:
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a. Budgeting

b. Financial planning

c. Saving

3.) What is the level of financial literacy when grouped and compared

according to the aforementioned variable?

4.) Is there a significant difference with the level of financial literacy of

the respondents when grouped and compared according to the

aforementioned variable?

Hypothesis

There is no significant difference in the level of financial literacy

among senior high school students when grouped and compared.

Assumptions of the Study

The level of financial literacy among Accountancy, Business and

Management (ABM) senior high school students varies to a certain

level.

Study Variables, Indicators, and Categories

The table presents the variables, indicators, and categories used

in this study.

Variables Indicators Categories

Biological or physical
Male
Sex distinction between a
Female
man and a woman.
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The level of the

Grade 11 ABM
Grade Level educational program
Grade 12 ABM
studied by a learner.

The average
Average Family consolidation of the Higher
Monthly Income monthly income of the Lower
family.

Theoretical Framework of the Study

This study is based on the Capability Theory of Financial Literacy,

which has been explored in recent years to address comprehensive

financial behaviors such as budgeting, financial planning, and saving.

According to (Kempson et al. 2017), financial capability involves more

than just knowledge; it encompasses the ability to apply financial

knowledge in real-life scenarios, make sound financial decisions, and

manage resources effectively. This theory highlights four dimensions of

financial capability: managing money (budgeting), planning for the

future (financial planning), selecting products (informed decision-

making), and staying informed (financial awareness).

In the context of senior high school students, these dimensions

are critical as they represent foundational skills for effective financial

literacy. Budgeting helps students manage limited resources, financial

planning prepares them for future expenses, and saving builds

resilience against unforeseen challenges. Moreover, the theory

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suggests that financial literacy is influenced by access to financial

education, social influences, and personal experiences.

This theory inspires researchers to explore how financial

capability influences the development of students’ financial literacy,

particularly in the areas of budgeting, financial planning, and saving. In

view of the Capability Theory of Financial Literacy (Kempson et al.,

2019), it is suggested that students’ financial literacy is shaped not

only by their knowledge but also by their ability to apply that

knowledge effectively in real-life scenarios.

Conceptual Framework

In this study, the researchers focused on determining the Levels

of Financial Literacy among Grade 11 and 12 ABM students in a private

university . The framework considers both independent variables and

dependent variables to establish relationships and determine the

students' financial literacy levels.

The researchers interpreted the financial literacy of ABM

students based on the following scale. The questionnaire focused on

key areas such as budgeting, financial planning, and saving. Students

were asked about their practices and knowledge in managing finances,

such as how they allocate their money for expenses, their ability to set

and follow financial goals, and their saving habits. Additional questions
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addressed factors such as sex, grade level, and average family

monthly income to provide a comprehensive understanding of the

variables influencing financial literacy.

The results were measured on a Likert scale, with responses

interpreted as follows: 1 = Very Low, 2 = Low, 3 = Moderate, 4 = High,

and 5 = Very High. These results may vary depending on the

respondents' demographic and financial habits, highlighting

differences in financial literacy levels across the surveyed population.

Scope of the Study

This study aims to assess the Level of Financial Literacy of Senior

High School Learners in a private university during the school year

2024-2025 using a descriptive research design. It focuses on

evaluating students' knowledge, attitudes, and practices in managing

personal finances, such as saving, budgeting, and understanding basic

financial concepts. The study will utilize a survey-based method to

gather data from 30 respondents, equally divided between Grade 11

and Grade 12 students, selected through systematic sampling.

Significance of the Study

This study will be beneficial to the following:

Accountancy, Business and Management (ABM) Senior

High School Learners. As the primary beneficiary of the study, the

results will provide the students knowledge from budgeting and saving

by making wise decisions about spending and saving.

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Teacher/Educators. The findings can help educators design

and implement targeted financial literacy programs within the

curriculum. By identifying specific gaps in students’ financial

knowledge, these programs can focus on specific areas to ensure

students are better prepared for real-world financial challenges.

STI West Negros University Administrators. This study will

give knowledge to the administration in terms of curriculum.

Parents. This research can help parents guide their senior high

school students toward responsible financial habits. By evaluating

students’ current levels of financial literacy, the study provides

valuable insights into their understanding of budgeting, saving,

spending, and other essential financial concepts.

Present Researchers. This research can give researchers

deeper understanding into the financial literacy levels of senior high

school students by evaluating their ability to apply financial concepts

to real-world scenarios, analyze financial information, make sound

judgments, and communicate effectively about financial matters. This

study will also serve as a reference, providing an overview and

guidance on how senior high school students can assess their own

financial literacy levels.

Future Researchers. This study will act as a guide and

framework for future researchers pursuing similar study.

Definition of Terms
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The following terms are conceptually and operationally defined

for a better understanding of this study.

Accountancy, Business and Management (ABM).

Conceptually, ABM refers to a strand in senior high school education

focused on financial management, accounting, business operations,

and management concepts. The goal is to prepare students for careers

in accounting and business administration.(Shuhidan et al., 2022).

Operationally, they are the respondents of the study currently

taking the ABM track in senior high school at STI WNU for the school

year 2023-2024

Budgeting. Conceptually, a budget is a spending plan that

outlines your income, expenses and other financial goals like savings

and debt paydown. It’s an estimate of how much money you’ll make

and spend over a certain period of time, such as a month or year.

(Schwahn, L., 2024)

Operationally, that refers to how student allocate their monthly

allowance. it is one of the core skills that is associated with financial

literacy.

Financial Literacy. Conceptually, financial literacy is the ability

to understand and effectively use various financial skills, including

personal financial management, budgeting, and investing. (Fernando,

J., 2024)
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Operationally, it refers to or it means how well students are

literate in terms of saving, financial planning and budgeting.

Financial Planning. Conceptually, it refers to a an investment

plan starts with a financial plan. Both identify your financial goals and

address the financial resources you have available to meet them.

(Manning, L., 2024)

Operationally, it is a key skill that involves setting financial goals

and creating strategies to achieve those goals.

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Chapter 2

REVIEW OF RELATED LITERATURE

This chapter primarily presents various studies and related

literature from both foreign and local researchers, which have

significant relevance to the variables included in the research. The

study specifically focuses on the level of financial literacy among

Senior High School ABM students in a private university. The literature

reviewed for this study includes sources such as books, journals,

articles, electronic materials like PDFs or E-books, and other existing

theses and dissertations—both foreign and local—that are considered

valuable in enhancing awareness and understanding of the study.

Conceptual Literature

Foreign

According to (Kempson, et al 2017), financial literacy is a vital

component of financial well-being, as it influences decision-making,

budgeting, and resilience to financial challenges. Their conceptual

model highlights the interplay of knowledge, financial behaviors, and

socio-economic conditions in determining financial stability and well-

being. They stress that improving financial literacy at an early stage is

critical to developing positive financial habits that contribute to long-

term financial security.

(Lusardi , A. 2023) highlights the challenges faced by students in

understanding fundamental financial concepts like budgeting, saving,

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and debt management. These gaps often lead to impulsive spending

and detrimental financial behaviors, undermining students’ long-term

financial well-being. Lusardi stresses the need for early interventions to

foster resilience and informed decision-making, laying the foundation

for a more financially secure future.

In another study, (Lusardi, A. & Streeter, J. 2023) explore the

relationship between financial literacy and financial well-being. Their

findings show that individuals with higher levels of financial literacy

exhibit better financial behaviors, such as consistent saving and

efficient budgeting, which significantly enhance their financial stability.

The study underscores the importance of financial education,

particularly for young individuals, to instill habits and knowledge that

support financial well-being over time.

Local

In a study conducted at Central Luzon State University, it was

found that many students lacked essential financial literacy,

particularly in areas like budgeting, saving, and managing personal

finances. The study highlighted that financial practices among students

were often influenced by their socio-economic background and the

allowance they received. The researchers emphasized the importance

of incorporating financial literacy education into university curricula, as

it could significantly improve students' financial decision-making and

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overall financial well-being. The study suggested that greater

awareness and education could empower students to make better

financial choices and ultimately improve their financial stability.

(Pascual, A.M., & Santos-Recto, M. 2021)

However, a study in Dominican High School of Sto. Domingo N.E,

shows that the financial literacy assessment among Senior High

students revealed a generally high level of financial literacy, with room

for improvement in certain areas. While students encountered financial

concepts, textbooks proved to be less impactful, highlighting the need

for alternative resources. Parental guidance played a crucial role,

alongside formal education, in shaping financial literacy. Despite

proficiency in basic financial tasks, students faced challenges such as

high expenses and limited personal funds. The researchers

recommend that students create a financial stewardship plan that

presents financial stewardship plan items mentioned above to enhance

their financial literacy thereby increasing chances for long-term

financial success. (Gabay et al, 2024).

Research Literature

Foreign

Local

The research study conducted by Barrot, Gonzales, Eniego,

Salipande, and Olegario (2024) from De La Salle University examined

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the integration of financial literacy into the K-12 curriculum in the

Philippines. Their study, titled Integrating Financial Literacy into the K-

12 Curriculum: Teachers' and School Leaders' Experience, explored the

experiences of educators and school leaders in incorporating financial

literacy education. The research focused on identifying challenges,

strategies, and outcomes related to the program.

Findings revealed that while financial literacy is crucial for

equipping students with real-world skills, implementation faced

significant obstacles, including inadequate resources, limited teacher

training, and a shortage of instructional materials. Despite these

challenges, innovative teaching approaches—such as project-based

learning and real-life financial simulations—were employed to

effectively enhance students' understanding of financial concepts.

The researchers emphasized the importance of policy reforms to

strengthen financial literacy programs, recommending improved

teacher training initiatives and the development of comprehensive

financial education modules. This study highlights the critical role

educators and school leaders play in fostering students’ financial

competence and long-term economic stability.

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Chapter 3

Methodology

This chapter examines the methods of research applied in the

study, including the participants and procedures. It will be categorized

under the subheadings: Research design, locale of the study,

respondents, Research instruments, Validity of research instruments,

Reliability of research instruments, Analytical schemes and Statistical

tools.

Research Design

The researchers conducted a quantitative study and employed a

descriptive research design. According to (McCombes, 2019), a

descriptive research design is used to systematically describe a

phenomenon, its characteristics, or behaviors, without manipulating

variables.

This research design aimed to identify characteristics,

frequencies, and categories, making it suitable for this study's

objective. The study focused on examining the factors influencing the

financial literacy levels of Senior High School ABM students

The researchers utilized this research design to determine the

the level of financial literacy of Senior High School ABM students. By

using this approach, the study ensures a thorough analysis of the

determinants of the factors influencing financial literacy.

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Locale of the study

The study was conducted in one of the private universities in a

highly urbanize City in Negros Occidental . The university is a second

level-accredited school by the Philippine association of the colleges

and Universities. The private university that has a land area of 4

hectares located in Burgos St. Bacolod City Negros Occidental. The

population of the grade 11 & 12 ABM students has a sub total of 126

students who will be the respondents of this study.

Respondents of the study

The respondents of the study are composed of students of the

Grade 11 and Grade 12 ABM in one of the private university for the

school year 2024-2025. The researchers utilized a stratified sampling

technique. The researchers took a sample size from each Section using

the Crochran’s Formula.

Data Gathering Instrument

The chosen method for this study is the survey method. Surveys

and questionnaires were carefully designed to establish trust and

encourage honest responses from the participants. The use of

structured plans and rating scales forms the foundation of quantitative

surveys, enabling the researchers to efficiently measure and assess

the attitudes, behaviors, and perspectives of the respondents. This

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approach ensures the reliability and validity of the data collected,

facilitating a more accurate analysis of the financial literacy levels of

the participants. The research instruments undergone validity and

reliability testing to ensure its accuracy and consistency

Validity

Validity refers to how accurately a method measures what it is

intended to measure. If research has high validity, that means it

produces results that correspond to real properties, characteristics,

and variations in the physical or social world. (Middleton, F., 2019). To

ensure the validity of the research instrument the researchers

submitted it to three professionals and gathered their comments and

suggestions for the research questionnaires using the Good and Scates

criteria. The first validator is Graduated With Bachelor of Secondary

Education Major in English in year 2018-2019 at Carlos Hilado Memorial

State University- Talisay, Currently a Senior High School Faculty

Member in STI West Negros University. The second validator is

Graduated in STI West Negros University with Bachelor of Science in

Business Administration Major in Financial Management-STIWNU and

Secondary Education Major in Certificate Program-Teacher Certificate

Program 2024-STIWNU, Currently working at STI West Negros

University Inc. as a Senior High School Faculty/ ABM and NSTP-LTS

Coordinator, Currently Pursuing Master of Business Administration. The

last validator is Graduated from University of Negros Occidental

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Recoletos with Bachelors Degree in Accounting in year 2013 and has a

Masters Degree in Business Administration, Graduated in year 2020 at

STI West Negros University, Currently working as a Faculty Member at

STI West Negros University.

The questionnaire obtain the validity score of 4.55, which means

that the questionnaire is valid to be used in this research.

Reliability

Reliability refers to the degree to which a measurement

instrument gives the same results each time that it is used, assuming

that the underlying thing being measured does not change (Crossmen,

2019)The reliability was established and analyzed using Chronbach’s

alpha, this is a measure of internal consistency and it shows how

closely related a set of items are as a group, it is considered as a

coefficient of reliability.

To ensure the reliability of the research questionnaires, the

researchers conducted a dry run with 30 respondents. This preliminary

testing phase will help identify any issues with the clarity, structure, or

relevance of the questions, allowing for adjustments to improve the

instrument's effectiveness. The data collected from this dry run was

analyzed to confirm the consistency and reliability of the responses,

ensuring that the questionnaire could accurately measure the financial

literacy levels of the intended participants.

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Data Gathering Procedure

After establishing the validity and reliability of the research

instrument, the researchers sought approval to conduct the study by

sending a formal request letter to the principal. Once approval was

granted, the survey questionnaires were distributed face to face,

ensuring that respondent privacy was prioritized and that the collected

information was used strictly for research purposes. After data

collection, the responses were carefully checked, processed, tabulated,

and encoded for analysis.

Analytical Schemes

This study used three analytical schemes based on the research

which were descriptive, comparative and relational.

Objective 1 which aims to identify the profile of the

respondents in terms of Sex, Grade Level and Average Family Income,

the Descriptive Analytical Scheme was used.

Objective 2 which aims to identify the factors affecting the

financial literacy of students based on their environment, learning

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facilities, and peer influence, the Causal-Comparative Analytical

Scheme.

Objective 3: Which aims to identify the level of financial

literacy when grouped and compared according to the aforementioned

variable. Descriptive Analytical Scheme was used.

Objective 4: Which aims to identify if there is a significant

difference with the level of financial literacy of the respondents when

grouped and compared according to the aforementioned variable.

Descriptive Analytical Scheme was used.

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A Questionnaire on
Level of Financial Literacy of Senior High School Learners

Dear Respondents:

We are the ABM 12-A students currently working on our research titled “Level of
Financial Literacy of Senior High School Learners.” In line with this we are asking
for your help by answering our survey questionnaire. Whatever information that the
researchers will gather will remain confidential.

Your cooperation is highly appreciated. Thank you!

Respectfully Yours,

Sheal C. Joaquin
Lead Researcher

--------------------------------------------------------------
SURVEY QUESTIONNAIRE

“Level of online Shopping Usability and Customer Satisfaction.”

PART I. PROFILE OF THE RESPONDENTS

Direction: Please answer all questions as truthfully and accurately as possible.

Check or mark the appropriate box/space for each question and answer in the box
or blank provided. All answers are confidential, and all responses will remain
confidential and used solely for research purposes. Your participation is voluntary
and will help us greatly. Thank you.

Name: (optional) _______________________________________________________

Gender: _______________
Grade level: _____________
Average Family Monthly Income: _________________
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PART II. SURVEY QUESTIONS

Directions: Please put a “✔” mark in the box of your answer regarding the Level of
Financial Literacy of Senior High School Learners. Please mark your answers using the
following scale; 1 for Strongly Disagree; 2 for Disagree; 3 as Neither Agree nor Disagree; 4
as Agree; and 5 for Strongly Agree.

5 4 3 2 1
Areas
always often sometimes rarely never

As a student, I compare prices before

buying something to save money

As a student, I allocate part of my

allowance for saving

As a student, I set aside money for

emergencies

As a student, I save my extra money

As a student, I save a portion of my

allowance
a. SAVING
As a student, I prefer walking or taking
cheaper transportation to save money

As a student, I use online banking to

save money

As a student, I bring food from home

instead of buying in the cafeteria to save
money

As a student, I buy secondhand items

instead of buying new and branded items

As a student, I prioritize needs over

wants when making purchasing decision

b. BUDGETTING As a student, I track my expenses to stay

within my budget

As a student, I spend my money on the

things I need
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As a student, I prioritize necessary

expenses over unnecessary purchases

As a student, I find it challenging to

stick to my budget

As a student, I feel stress about

managing my budget

As a student, I stick to my budget set for

myself

As a student, I create a budget to manage

my expenses

As a student, I can make my allowance

last for the entire week

As a student, I check my budget to make

sure I’m meeting my financial goals

As a student, I find myself going over

the budget

As a student, I discuss financial budget

with my family

c. FINANCIAL As a student, I track my expenses

PLANNING regularly

As a student, I make a plan to reach my

financial objectives

As a student, I set financial goals before

making big decisions

As a student, I set a saving target and try

to reach it

As a student, I consider long-term

financial stability when making financial
choices.

As a student, I seek financial help from

experienced individuals, such as,
parents, teachers, or financial advisors.

As a student, I try to avoid unnecessary

borrowing and debt

As a student, I review and adjust my

financial goals

As a student, I participate in student

organizations or activities that help me
improve my financial literacy
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