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Chapter 5

This study examined the budgeting styles of 20 accounting and business management (ABM) students at San Andres Vocational School for the 2022-2023 school year. The majority of respondents were female students aged 16-18 in 11th grade. The top budgeting style was the 50/30/20 rule, where students prioritize needs over wants. Other identified styles included the 80/20 rule and reverse budgeting. Budgeting helps students manage their finances by allocating funds to goals, establishing priorities, and saving for future expenses or emergencies. The researcher recommends using in-depth interviews for future studies and examining budgeting concerns among more senior high school students.

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101 views

Chapter 5

This study examined the budgeting styles of 20 accounting and business management (ABM) students at San Andres Vocational School for the 2022-2023 school year. The majority of respondents were female students aged 16-18 in 11th grade. The top budgeting style was the 50/30/20 rule, where students prioritize needs over wants. Other identified styles included the 80/20 rule and reverse budgeting. Budgeting helps students manage their finances by allocating funds to goals, establishing priorities, and saving for future expenses or emergencies. The researcher recommends using in-depth interviews for future studies and examining budgeting concerns among more senior high school students.

Uploaded by

Prince Justin Solano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Chapter 5

SUMMARY, CONCLUSIONS AND RECOMMENDATIONS

This chapter summarizes the findings, conclusions, and


recommendations of this study.

Summary
This study determined the budgeting styles of ABM students of
San Andres Vocational School SY 2022-2023 in their allowances.
Specifically, answers to the following questions were sought:
1. What is the demographic profile of respondents in terms of:

1.1 sex;

1.2 age;

1.3 grade level/section;

1.4 address?

2. What are the budgeting styles of ABM Students in their


allowances?

3. How do the budgeting styles help the students in


managing their finances?

Findings
The following are the findings of this study:
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I. Profile of the Respondents


Age. Age of the ABM Students, 18 or 90 percent are in the age
bracket of 15-18 years old; 2 or 10 percent are 21 and above years old,
respectively.
Most of the ABM students are in the age bracket of 16-18 years old
which means they are responsible in handling their allowances.
Sex. Females dominated the group. In fact, out of 20 respondents,
13 or 65 percent are females, while 7 or 35 percent are males.
Through these findings, it can be concluded that majority of the
ABM students of San Andres Vocational School are female.
Grade level/section. Out of 20 respondents, 15 or 75 percent are
grade 11-Bravery, 5 or 25 percent are grade 12-Dauntless.
This implies that most of the ABM Students are in grade 11.
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II. Budgeting Styles of ABM Students in their allowances

Budgeting
Response Memo Analysis
Styles
50/30/20 “I spend my money by Therefore, the majority of the
Rule spending for respondents prioritize their
educational expenses, needs over their wants, such
transportation, foods as food, school costs, and
and savings.” transportation in their
allowance. By utilizing this
strategy, students can save
some money from the
allowance they receive from
their parents or another
source of income. They made
an expenditure to their funds
for a reasonable cause. The
respondents want to use
their money for upcoming
needs, crises, and necessary
costs.
80/20 Rule “My mother gives me a Therefore, 80% of their
weekly allowance 60% income goes towards meeting
of it is for the their requirements, with the
transportation fees, 20% going toward to savings.
20% for my food and
20% for savings.”
Reverse “I spend my allowance Therefore, the response from
Budgeting by saving more money the single parent indicates
and other that the social media
expenditure.” marketing affects her
because the arrival of the
product she purchases
online is delayed.
No “I don’t have an The survey found out that
Budgeting allowance.” one of the respondent had no
budgeting styles.
22

Manage Response Memo Analysis


Saving for “It does helps me in a Therefore, the majority of
wants way that I spend my respondents saved an
money on my essential important amount of money
needs and then I can
to purchase their wants.
save money for my
wants.” Based on how they allocate
their funds for their wants,
they assist them in creating
a budget.
Help to "It helps me in a way Therefore, using budgeting
track that my money is techniques makes it easier
expenses enough for my expenses for people to keep track of
and to track my
their spending. They benefit
expenditures."
from having a strategic plan
to ensure that their
allowances are enough and
to establish priorities by
identifying their financial
objectives and allocating
funds appropriately.
Additionally, it develops
self-control and discipline
so that you can make wise
financial judgments.
Saving for “It makes me be sure not Therefore, the respondents
future to run out of money like want to spend their funds
purposes/ the remaining money, it on future needs,
emergencies will be used to other like
emergencies, and other
savings, emergency, and
other stuff.” necessary expenses. By
doing this, it enables people
to experience as little stress
as possible whenever an
unforeseen event
necessitates financial
assistance.
III. Budgeting Styles help the students in managing their finance
23

Conclusions
Based from the findings of the study, the following conclusions
were drawn:
Most of the ABM students of San Andres Vocational School SY
2022-2023 are 16-18 years of age; majority are female and most of the
respondents are from grade 11-Bravery.
The Budgeting Styles of ABM Students in their allowances are:
50/30/20 Rule, that prioritize needs over wants and this strategy may
make budgeting a little simpler.
While the other respondents budgeting styles are: 80/20 Rule,
Reverse Budgeting and No Budgeting.
These budgeting styles help students in handling their money:
Budgeting Styles assist the students in allocating their money for their
goals, establishing priorities by setting goals, and experiencing as few
worries as possible whenever an unforeseen situation arises. Saving for
wants, assisting with expense tracking, and saving for future uses or
emergencies.
24

Recommendations
On the bases of findings and conclusions drawn, the following
recommendations are offered:
It is suggested that the study should have used a different data
gathering procedure than the survey questionnaires. An in-depth
interview with the respondents is more recommended to get detailed and
extensive answers that could help the researchers comprehend their
study more fully.
It is recommended that this study should not have chosen the
ABM students to be their respondents since proper budgeting of their
allowances has already been taught to them. It is a great way to save
money while also meeting their needs and wants.
The researcher's most recent suggestion is that additional studies
should be done to evaluate the students' concerns with budgeting and
financial management at the school, particularly among senior high
school students.

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