SENIOR HIGH SCHOOL

IMPACT OF FINANCIAL MANAGEMENT SKILLS ON ALLOWANCE

ALLOCATION AMONG GRADE 12 ABM STUDENTS

A Research Paper
Presented to the Faculty of Research of the Senior High School
Philippine Christian University, City of Dasmariñas

In Partial Fulfillment
of the Requirements for the Subject
Inquiries, Investigation & Immersion

by
Ampatin, Ashley Keith H.
Caballa, Mark Dave C.
David, Bhea G.
Gain, Rhanjiko T.
Garcia, Shayne Frances P.
Guisijan, Clein Joshua D.
Llamoso, Yhannice Gracielle C.
Medina, Ellyza F.
Pizarra, Zsarnhey Luisa A.
Salas, Irene May J.

Submitted to:
Jhenna S. Montano, LPT
Subject Teacher

March 2025
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CHAPTER I
PROBLEM AND ITS BACKGROUND

Introduction

The Perceived Gap

This research study will help contribute to the body of knowledge as this subject
lacks on how to do proper budgeting and how it affects their financial management skills
as a student. Based on the previous study of Rodriguez et al. (2024), the researchers have
observed that it has come to the point that the students have not fully tracked how their
financial planning changes over time or considered how other factors might impact their
ability to manage their money. The importance of financial management skills on
allowances in terms of budgeting is important because as individuals grow older, the more
financial responsibilities these individuals will be facing. The researchers want to
distinguish how huge the impact of financial management skills is when it comes to
allowances. This study will seek to encourage the students to focus more on saving and
investing rather than spending. Understanding the importance of budgeting is a must
because it is one of the things that individuals experience in their daily lives.
Background of the Study
Money management is important for everyone, especially students. According to
Tatad et al. (2024), learning these skills early can improve their financial well- being. It
helps students think critically by planning and making decisions. As they learn about
personal finance, students become more responsible and wiser with their money. A study
in Malaysia on students' financial literacy and spending habits found a positive link
between financial knowledge and responsible spending (Ahmad et al., 2024). Students
who understand money management are more likely to use their allowances wisely and
avoid impulsive buying. Lusardi and Streeter (2023) also found that people with better
financial knowledge tend to save more. This implies that Grade 12 ABM students with
strong financial management skills may be more likely to save some of their allowances
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for future goals. While there are countless studies in financial literacy and budgeting
practices among youth, there needs to be more knowledge on how they manage their own
money, and that affects their management abilities which they will outgrow. Filling in
these gaps could give the researchers a clearer understanding of how students use their
financial knowledge more effectively. The present study will focus on the student's
economic management skills' impact on their allowances and ability to budget their
money properly.
This study examines the student's skills and spending habits, where they allocate
their allowances, classifying expenses for food, transportation, and preferences. It will
also emphasize the importance of budgeting for students and how it can help them. The
researchers’ target participants are Grade 12 ABM students. This study will show how
they can budget their allowance, especially now that senior high school students are
gradually entering adulthood. As part of their growth, they gradually understand their
financial responsibilities. With this study, researchers can better understand the students'
insights about properly budgeting their allowances.
Statement of the Problem and Purpose
This research entitled “Impact of Financial Management Skills on Allowance
Allocation among Grade 12 ABM Students" aims to investigate how financial
management skills influence Grade 12 ABM students' use of their allowances and answer
set of questions with the quantitative approaches and methods to achieve the indicated
research purpose. Specifically, the study seeks to answer the following questions:
1. What is the influence of financial management skills on the management of
allowance among Grade 12 ABM students?
2. What are the factors that influence the allowances of Grade 12 ABM students?
3. What are the budgeting techniques used by Grade 12 ABM students for their
allowance?
4. What are the importance of financial management skills on budgeting Grade 12
ABM students' allowance?
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Based on the stated questions, the researchers aim to achieve relevant purposes such
as to: (1) Understand the influence of financial management skills on the allowance
management among Grade 12 ABM students; (2) Identify the factors that influence to
Grade 12 ABM students' allowances, (3) Determine the budgeting techniques of Grade
12 ABM students, (4) Understand the importance of financial management skills on
Grade 12 ABM students' allowances. These research purposes will be achieved following
certain research protocols and be constructed and aligned with several theories reflecting
the research context.
Significance of the Study
This study aims to offer information that will be helpful to particular people as well
as the target respondents concerning the importance of money handling skills in the
utilization of allowances. This is actually the effort to outline how required monetary
control contributes to improved funding and saving patterns among learners so they are
able to turn into economically accountable citizens in a given society. The following
group of people are the following:
 Students - This study may shed enlightenment to students to be wiser in spending
their money and further develop their financial literacy skills, as this study will
reveal the impacts of financial literacy skills on their allowance. It will be
beneficial for students, especially now that the prices of goods are rising, to have
proper self-discipline regarding what to spend or buy. Exploring this impact can
provide a better understanding of the two variables and help them to think of a
way to discipline themselves when it comes to budgeting as well as spending their
allowances and also to help students to become more mindful in spending their
allowances.
 Educators - This study will help the educators gain information and knowledge
about this and also the importance of their financial management status. It also
aims to help fellow educators, who also want to study more about this certain
topic. The benefits of this study are that they can better manage their personal
finances. Some knowledge of financial management can help educators maximize
their use of benefits. The research findings will enable educators to support
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students in managing their everyday expenses and making career plans, ultimately
improving their overall preparedness for life after school.
 Parents - The parents can learn about this study by how their children spend their
allowances through financial budgeting in terms of the budget that they give. If
the student's parents are aware that their children are spending their allowances
wisely, it will lessen the parent's worry or stress when it comes to financial
problem. They can guide their children about the importance of financing their
budget for the better. Additionally, the parents can also gain a knowledge by
knowing the importance of financial literacy by helping their child manage their
expenses and help them learn about budgeting and saving their money.
 School administrators - This research will help school administrators to know
the impact of financial management skills on students' allowance allocation and
to increase knowledge about students' behavior when it comes to spending
money. The knowledge obtained from this research by school administrators will
help them know what should be added to their school's curriculum. In this way
they can help the students to enhance the knowledge of the students in managing
money and to be responsible in handling their money. When the students apply
the knowledge they have gained in the curriculum added by the school
administrators, the administrators will help reduce the students' financial stress.
School administrators can help prepare students to be ready in the future by
being financially responsible.
 Future researchers - This study will help future researchers to have a wider
knowledge and gain insights about the impact of financial management skills in
the allowance allocation of Grade 12 ABM, which will be helpful for new
investigation. This study can be use as an instrument for future researchers who
want to develop framework and create a strategy on how to enhance individuals'
financial management skills. The results of this study will help future researchers
to further improve their financial management skills and also use it as a basis to
teach others on how to be financially responsible.
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Hypothesis of the Study

Ho1 - There is no significant influence of financial management skills on the allowance

allocation of Grade 12 ABM students.
Ho2 - There is no significant factors that influence the allowance allocation of Grade 12
ABM students.
Ho3 – Budgeting techniques have no significant effect on Grade 12 ABM students’
allowance.
Ho4 – Financial management skills have no significant importance on allowance
allocation of Grade 12 ABM students.
Scopes and Delimitations of the Study
This quantitative research is a descriptive research that will determine the impact of
financial management skills on allowance allocation among Grade 12 ABM students.
This study will be focusing on the allowances of the Grade 12 ABM students at Philippine
Christian University - Dasmariñas for the S.Y. of 2024 - 2025. The Grade 12 ABM
students' financial management skills is the major variable in this study because it is the
variable that could be affecting the other variable or sub-variable from the proposed
research title. This research study will also discuss further about the cause and effect
between the two variables.
As for the scope's delimitations, the students of ABM 12 are the only qualified
respondents for this study and shouldn't be anyone from the other grade level and strands.
As well as for the allowances, the ABM 12's allowances should be the only relevant thing
that the researchers should be focusing on, not with the other students' allowances from
different strands. In addition, the respondents of this study should be a Grade 12 ABM
student from Philippine Christian University at Dasmariñas Cavite only and nowhere else.
Lastly, the respondents must be a students from Accountancy, Business and Management
(ABM) that are in the 12th Grade for the S.Y. of 2024 - 2025.
Definition of Variables
1. Financial management skills - financial management refers to supervision and
handling of the financial affairs of an organization and skill is the knowledge and ability
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that enables you to do something well (Collins Dictionary, n.d.). This study refers
to different financial management skills of the Grade 12 ABM students such as
students' budgeting techniques, spending habits and how it helps them as ABM
students. It will study impacts of these skills on their allowance. This study will
highlight how skilled students are in managing their money and how this affects their
decisions on where to spend it.
2. Budgeting skills - According to the Drever Dictionary, budgeting skills refer to
skills with financial planning. Also for Grade 12 ABM students, this includes
guiding their allowance, categorizing expenses, and having an idea for saving. This
study will show how it improves financial literacy and encourages responsible
spending, leading to increased savings. In this way, these skills can be developed to
better prepare students for future financial responsibilities as they grow older.
3. Spending - refers to the money that is used for a particular purpose, especially for
a student who has educational needs (Cambridge Dictionary, n.d.). In this study it
refers to where ABM students spend their allowance and how their spending habits
affects their allowance. It can be seen here whether they spend their money for
important things such as, their education and daily living expenses or just for their
personal wants. It is also essential for financial planning and budgeting.
4. Allowance allocation - refers to money that is given regularly and part of the total
amount of money to use in a particular way (Cambridge Dictionary, n.d.). This study
will highlight the importance of allowance allocation as a student in terms of their
financial management skills. It will also show how these Grade 12 ABM students
use their money in terms of saving and budgeting their allowances for their usage.
5. Saving - refers to money that you have saved, especially in a bank or a building
society (Collins Dictionary, n.d.). This include the normal saving behavior, the
saving goals and the ability to resist spending on the unnecessary needs. Better
saving behavior result to enhanced financial management skills.
6. Impact - refers to the force of impression of one thing or another, a significant or
major effect (Merriam-Webster, n.d.). It refers to the effects or impacts of students’
financial management skills on their allowance. It can be seen here the possible
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effects on the two variables in this research, whether it has a good or bad effect.
7. Financial literacy - refers to the ability to understand basic principles of business
and finance (Cambridge Dictionary, n.d.). In this study, it determines how broad the
knowledge of Grade 12 ABM students when it comes to managing and spending
their allowance. It can be seen here how the students' ability to understand and
effectively use different financial skills affects the students' allowance.
8. Expenses - refers to the money that something costs you or that you need to spend
in order to do something (Collins Dictionary, n.d.). This study will emphasizes the
importance of expenses for the students. These students will determine the
importance of expenses in terms of knowing on how to track their money and help
these students in terms of decision making. In this study, this will help students to
create a budget that will ensure these students that they don't run out of money
because of saving awareness for their expenses. It can be seen here that by
recognizing the significance of these students' expenses, students can make a better
financial decisions.
9. Grade 12 ABM Students - Grade 12 refers to the final year of secondary school
after which students usually graduate at age 17 or 18 (Collins Dictionary, n.d.). The
Accountancy, Business and Management is a strand in the senior high school.
Students who are enrolled in the Accounting, Business and Management from the
K-12 curriculum will be the respondents of this research along with the researchers
who will be collecting the data.
10. Philippine Christian University - Dasmariñas - a private school located in
Dasmariñas Cavite that offers a basic and higher learning education. This refers to
the locale of this study. The students in this school will help us gather some
information about the research that we are conducting regarding the financial
budgeting and allowances of the students. The respondents that we will be needing
for conducting this research must be a student from this particular school or must be
enrolled from this school.
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Review of Related Literature and Studies

This section contains literature and studies that are related and relevant to the topic
of the study. These include the variables of financial management skills on students,
specifically on Grade 12 ABM. The impact of financial management skills on allowance
allocation of Grade 12 ABM students are also involved in this part.
Role of Financial Management Skills on Allowance Allocation
The financial management skills of students are heavily important in terms of being
financially responsible with their own money now that these students are in the right age
to handle their own money. Student’s financial management refers to the behavior and
perceptions of how students manage their finances and handle their money during studies
(Darlynie & Sapiri, 2020). There should be a balance between financial management
skills and allowances because if not for financial management skills, you cannot handle
your allowances. A fundamental knowledge of credit, investment, budgeting and the
development of long term financial goals will provide students and help them to live
without stress of debt and financial difficulties that faced by many (Darlynie & Sapiri,
2020). A study by Lucero et al. (2024), found that comprehensive financial management
skills are necessary for students to efficiently manage their allowances. Important skills
that researchers discover include budgeting and making responsible spending choices. By
using these skills, they contend, students are more likely to track their spending and
establish reasonable financial goals, leading to better reasonable financial goals. Students
demonstrate that good budgeting techniques have a significant impact on their ability to
manage allowances (Bai, 2024). Students who have strong budgeting skills are better at
providing budgets that are adjusted to their income, leading to better financial results.
These abilities are critical for better personal financial management, especially for
students who often handle limited budgets. Early exposure to budgeting can develop
healthy financial habits that persist into adulthood.
Importance of Financial Literacy

Financial literacy is the ability of different financial types and ways of managing
personal’s financial, budgeting and investing controls (Peralta et al., 2020). These are
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knowledge that need prioritization mainly for students due to its impact on the way they
handle their allowances, especially students under the ABM strand. The study done by
Peralta et al. (2020) elaborately shows how most of the learners have lower allowance
handling due to poor management involving frustrations such as impulse buying from
social media pressure and peer pressure. This points to the fact that schools should
promote and afford to deliver classes with a view to enhancing the standard of its personal
finance. Financial literacy also offers the students a basic knowledge which should help
them to make informed decisions on how to use the resources that they have. This will
actually help schools to contribute to that foundation on which their future financial
stability and success are built.
Factors Affecting Financial Management Skills
Financial management skills play an important role, especially for students who
want to save money but they struggle because of various factors they encounter around
them and other students usually don't think about the importance of spending money
correctly and the possible consequences of this in the future. A study by Egesta et al.
(2021) titled "Factors affecting students' financial literacy (A Study on the Students of the
Faculty of Economics and the Faculty of Science and Technology at Sanata Dharma
University Yogyakarta)”, showed the different factors that affect their skills. One of the
things mentioned in this study is the parental influence on the students. Having
conversations with the parents about how to manage their money helps the students
because parents' advice is usually from their experience. Peer influence also affects the
students because bad peer influence can lead to bad financial decisions of the students. If
the student does not know how to self-control themselves whenever they shop, it will be
more difficult for them to track their allowance. Students are more likely to make
impulsive purchases when they see their peer groups doing it (Rozman & Mohd, 2024).
Positive influence of the student's peer groups will also have a positive outcome, such as
proper spending or money management. It is important that students study the possible
impacts of their decisions. A study by Rodrigues et al. (2021) stated that students with
impulsive decisions are more likely not considering the possible consequences of their
decision or what the impact of their decision will be on their money, with this behavior,
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students will find it difficult to track their money due to not making a plan before
spending.
Spending Behavior

Students do not track their allowance properly because of their spending behaviors,
Lalmuanpui (2021) found that a positive influence on students' budgeting or spending of
money can lead them to more correct and responsible management and financial
decisions. Students have many needs and wants to buy depending on their age, so their
budgeting is sometimes affected because of their spending habits. A study by Sari et al.
(2020) titled "The Effect of Financial Literacy and Pocket Money on Consumer Behavior
of Universitas Muhammadiyah Surakarta (UMS) students", showed that having the
knowledge on how to budget will help students to make better decisions in their
everyday financial decisions. If the students are not easily influenced by their friends,
allocate and spend their money to their needs rather than wants, it can lead to less stress in
managing money and in this way their allowance will not run out immediately. The
spending behavior of students is different, there are responsible consumers, overspend
consumers and wise consumers. It can be seen here that different factors affect their
spending behavior, responsible students usually have a high financial literacy, the students
who always overspend are usually impulsive buyers and do not think about the possible
consequences of this in the future and there are also students who are wise when it comes
to spending their money.

Furthermore, the spending behavior between different genders also has a huge
difference in terms of how they spend their money on things since these genders do not have
the same things to buy. It is very common for male students to gravitate towards masculine
items such as expensive gadgets, watches and purses, while female students may be
interested in decorative items such as makeup or cosmetic products, as well as jewelry
(Kumar et al., 2022). Moreover, despite the differences of their genders when it comes to
spending behavior, their spending behavior is heavily the same when the role of being a
student is involved. Bad spending habits of students can lead to negative impacts on their
pocket money and it can be the cause of their stress and students who know how to manage
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money better will be more financially stable in the future (Sari et al., 2020).
Allowance Allocation
Money is the most essential thing that a human being should have in their daily
lives, without it, a person won't be able to pay for the bills, buy food and many more.
Parents are usually the ones who give allowances to their children and the one who
decides where it will be spent is their children. A study by Moneva et al. (2020) shows
the benefits of having an allowance. One of the benefits that have been mentioned was
having the freedom to manage their own money. However, a person that has the freedom
to allocate their money will unfortunately face challenges such as spending their money
on non-essential things, resulting in an allowance shortage that will eventually lead to
stress. Allowances can either be helpful for a person because they'll get used to properly
budgeting their own money or have a negative effect instead because of impulsive
spending. Students who receive a weekly or monthly allowance allocate more of their
money for their savings, students who receive a weekly allowance usually set aside 20-
30% of their money for savings and students who have a monthly allowance are usually
saving 10-15% of their money (Banquerigo et al., 2024). Students nowadays have tons of
their own needs and wants, most of the students spend their allowances more on their
daily expenses such as transportation and food, 50-60% of students' allowance was
allocated for daily expenses and 10-20% for their wants (Banquerigo et al., 2024).
Students face different budgeting challenges everyday especially when they have to go to
school. It is important to learn proper budgeting because it is something inevitable.
Students should learn more about when and how to spend their allowances properly.
Synthesis

The studies show the importance of financial management skills, especially for
Grade 12 ABM student, having knowledge and skills in managing money helps students
to further develop their skills and decision making with their money. In the first section,
it focuses more on different financial management skills and how it can help the student's
ability to manage their allowance, it highlights the budgeting and financial decisions of
the students and in contrast with the second section of the related literature, this study
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expanded the concept of financial literacy and understanding about the financial behavior
of students. It also emphasizes the positive impacts, negative impacts and factors that
affect the financial management skills and allowance allocation of the students, such as
parental advice, peer influence, impulsive decisions, student spending behavior and
expenses. But overall, both sections show how important it is to have financial
management skills in allowance allocation of Grade 12 ABM students, the consequences
of having poor budgeting skills and also the strategies to enhance the students' financial
management skills. The studies deepen the overall idea on how to prepare students
financially, highlighting the different approaches in financial management skills and
students' financial behavior, as students enter adulthood, it is better to learn these skills to
become financially stable in the future.
Theoretical Framework

This research establishes the Theory of Personal Budgeting by Simone Galperti that
is based on the Department of Economics, University of California, San Diego in the year
2019.
Simone Galperti’s theory of personal budgeting indicates that individuals often use
personal budgets to manage self-control problems. This theory analyzes the link between
budgeting and self-control problems in consumption-saving decisions. This theory of
Galperti will contribute to this study since this theory indicates personal budgeting, one
of the most important things to include when it comes to financial management skills on
allowances among the students. According to Thaler (1999), students can improve their
financial results by effectively managing their finances. The personal budgeting of the
students are heavily important with its relevance to financing the allowances of the
students because the key concepts of financial management skills are saving, budgeting
and managing. The financial management skills indicates the managing of finances for
individuals to control their money. The allowances indicates the allowance that
individuals manage in terms of budgeting these individual’s allowances.
Moreover, this study includes the study gap that the researchers found on the
previous study that will help the researchers to identify the managing of personal
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budgeting of the individuals, specifically the students. The theory that is made by Galperti
will contribute to the future researchers that wants to study like this topic that is relevant
to financial management skills on allowances, saving money, allowance allocation and
personal budgeting. This theory will influence the interpretation of the results based on
the theory of personal budgeting since individuals will have a broad knowledge about
personal budgeting if this theory influences individuals.
Furthermore, these individuals will influence them to track their own expenses,
choose a budgeting method to preserve their money and more. Students can develop a
better understanding of their money and decisions when students are involved in
budgeting decision-making, which further reinforces the belief that good budgeting
results in improved financial literacy (Thaler & Sunstein, 2008).
Conceptual Framework

FIGURE 1

Independent Variable Dependent Variable

Financial Management Allowance allocation
Skills

Fig. 1 shows the conceptual diagram for this research study

Based on the diagram, the framework reveals how the independent variable which
is the financial management of the Grade 12 ABM students affects the dependent variable
which is the allowance allocation of the Grade 12 ABM students. Grade 12 ABM students
from Philippine Christian University - Dasmariñas are the only ones who are qualified
respondents for this study.
According to this study, the Grade 12 ABM students’ financial management skills
greatly affect their allowance allocation in a matter of how students handle their own
money. A student with excellent financial management skills indicates a responsible
student when it comes to money. On the other hand, bad financial management skills will
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likely lead to a shortage of allowance due to improper budgeting along with the others
factors that may be negatively affecting the students’ financial management skills such as
peer influences, impulsive spending, and lastly being unable to differentiate his/her wants
and needs as a student. Therefore, this study is expected to help the students avoid these
negative factors in order to improve their financial management skills as student.
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CHAPTER II
METHODOLOGY

This chapter will cover the methods used in data collection from the target
respondents. Through the survey questionnaire that will be distributed by the researchers to
the respondents in our chosen research locale. The researchers will use the gathered
information to provide additional knowledge and will go through measuring and analyzing
the obtained information since it is important in quantitative research. Therefore, through
the use of correct formulas, techniques, and procedures, the objective of this research will
be clearer.
Research Design
The research design employed in this research is descriptive research. Quantitative
research involves analyzing effects with the use of a specific population sample, a
systematic and formal process in which numerical data are used to acquire any informations
about the variables. In descriptive research, this design will be used to test the variables
“financial management skills” and “allowance allocation” and with proper procedures,
researchers will determine the causality between the two variables and other affecting
variables. The goal of descriptive research is to describe a phenomenon and its
characteristics. Moreover, descriptive research focuses on independent and dependent
variables and this research design will guide the paper to what is needed.
Sample and Sampling Techniques Used
The researchers decided to conduct a survey involving 50 participants from the Grade
12 Accounting, Business, and Management (ABM) students at Philippines Christian
University - Dasmariñas. To better understand the impact of financial management skills
on allowance allocation, a simple random sampling method will be used. This method
involves all 13 ABM sections and randomly select students per section to participate in the
study. Selection will be done by randomly distributing either physical survey forms or
online forms to willing participants. This ensures every student has an equal chance of being
included in the study while simplifying the data collection process.
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Instrumentation
The chosen instrument for this study is a survey questionnaire that consists of 25 items
which will help in order to achieve the research’s goals. The survey questionnaire was
created by the researchers using suitable and relevant questions that is aligned with the
research’s goals. This survey questionnaire will contain two sections of Likert Scale in
which they are focused to different topics. The first part uses Likert Scale to determine
whether the respondent (5) strongly agree, (4) agree, (3) neither, (2) disagree, or (1)
strongly disagree in a statement. The second part also uses Likert Scale to determine
whether the respondent feels that the statement is (5) highly effective, (4) effective, (3)
somewhat effective, (2) hardly effective, or (1) not effective
TABLE 1
Rating Scale for the Impacts of Financial Management Skills on Allowance
Allocation among Grade 12 ABM Students
Ratings Remarks
5 Strongly Agree
4 Agree
3 Neither
2 Disagree
1 Strongly Disagree

TABLE 2
Rating Scale for the Effectiveness of Different Financial Management Skills on
Allowance Allocation of the Grade 12 ABM Students
Ratings Remarks
5 Highly Effective
4 Effective
3 Somewhat Effective
2 Hardly Effective
1 Not Effective
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Procedure
The researchers will conduct a quantitative research study to find out how financial
management skills affect allowance allocation of grade 12 ABM students and will distribute
a 25-item survey questionnaire, allowing respondents to answer the questionnaire briefly
and concisely. After the respondent answers the questionnaire, the respondents’ information
will be kept anonymous. The researchers will analyze and summarize the information that
has been collected using various statistical methods and will display it in tables or graphs.
The results from the survey will be identified as evidence for this study.
Statistical Analysis of Data
To measure and analyze the statistical data that will be gathered from the survey
questionnaire, the researchers will then use the provided statistical formulas which area
called weighted mean and z-test. This way, the researchers will be able to value the weight
of each given scale based on a particular research statement. Based on the responses, the
one that will be representing the answer for that specific statement was the average answer
from all the given frequencies. Furthermore, the z-test will be used to test the hypothesis,
whether the hypothesis is rejected or fails to be rejected. The outcome will also be used as
proof of how the two variables affect each other.

Σ𝑓𝑥
Weighted Mean 𝑥̅ =
𝑛
∑ Summation symbol
f Frequency for each given scale
x Value for each scale
n Total number of frequencies

𝑋̅− 𝜇
Z – test 𝑍= 𝜎
√𝑛
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x̅ Sample mean
μ Population mean
σ Standard deviation
n Total number of frequencies
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Chapter III

RESULTS AND DISCUSSION

This chapter presents the findings of the study based on the collected data. The results
are interpreted using different statistical methods and presented using tables to provide a
clear interpretations on how financial management skills impact the allowance allocation of
Grade 12 ABM students.
Presentation of Results
TABLE 3.1
WEIGHTED MEAN VALUE FOR THE IMPACTS OF FINANCIAL
MANAGEMENT SKILLS ON ALLOWANCE ALLOCATION AMONG GRADE
12 ABM STUDENTS
Research Statements Weighted Mean Description
1. I am confident that I am
capable of budgeting my 3.8 ≅ 4 Agree
allowance properly.
2. I can differentiate my
wants and needs. 3.92 ≅ 4 Agree
3. I know what are my
priorities when it comes to 3.92 ≅ 4 Agree
spending my allowance.
4. I am fully aware how 4.46 ≅ 4 Agree
important budgeting is.
5. I tend to get swayed
into buying things that I 3.6 ≅ 4 Agree
do not really need.
6. I tend to engage in 3.48 ≅ 3 Neither
impulsive spending.
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7. I frequently improperly
spend my allowance due 3.04 ≅ 3 Neither
to my bad financial
management skills.
8. I spend my allowance
impulsively since I do not 2.66 ≅ 3 Neither
know how to budget
9. I always overspend
because I never keep track
of how much I am 2.92 ≅ 3 Neither
spending.
10. I never save since I
only have a little
understanding when it
comes to budgeting that 2.62 ≅ 3 Neither
makes me not save
money.
11. I find it hard to save 3.14 ≅ 3 Neither
and budget my allowance.
12. I tend to have a short 3.22 ≅ 3 Neither
budget.
13. I always stress out due
to my poor financial 3.04 ≅ 3 Neither
management skills.
14. I am fully aware that
poor management skills
lead to allowance 3.9 ≅ 4 Agree
shortage, that is why I am
trying my very best to
budget properly.
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15. I never once got
stressed out because of
money, thanks to my 2.88 ≅ 3 Neither
excellent financial
management skills.
Overall Weighted Mean 3.37 ≅ 3 Neither
Table 3.1 shows the result of the impacts of financial managements skills on allowance
allocation among Grade 12 ABM students
The researchers found that the financial management skills of Grade 12 ABM students
have a moderate effect on their allocation of allowance. The overall weighted mean is 3.37,
which falls under the "Neither" category, it means Grade 12 ABM students have knowledge on
proper money management but not skilled enough in handling money. The weighted mean of
students who understand the importance of spending their money is 4.46 and the weighted
mean of those who know how to prioritize important expenses is 3.92. Despite being ABM
students, they are still easily tempted to buy unnecessary items (3.6) and often spend
impulsively (3.48). The results show that the students are familiar with the concept of budgeting
and saving, but they struggle to control their spending due to various factors.
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TABLE 3.2
WEIGHTED MEAN VALUE FOR THE EFFECTIVENESS OF DIFFERENT
FINANCIAL MANAGEMENT SKILLS ON ALLOWANCE ALLOCATION OF
THE GRADE 12 ABM STUDENTS
Research Statements Weighted Mean Description
1. I review my budget
regularly and make 3.82 ≅ 4 Effective
adjustments as needed.
2. I always save a little
amount from my allowance 3.72 ≅ 4 Effective
so I can set it aside and use it
in the future.
3. I invest and save rather
than spending my allowance 3.36 ≅ 3 Somehwat Effective
to unimportant things.
4. I refrain myself from
buying things that is not
urgently needed so I can 3.84 ≅ 4 Effective
save my money for more
important things.
5. I seek budgeting advices
from my family and friends 3.2 ≅ 3 Somewhat Effective
to improve my budgeting
skills.
6. I always make sure to
keep my expenses on track 3.52 ≅ 4 Effective
to prevent allowance
shortage.
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Research Statements Weighted Mean Description
7. I always set aside my
wants from my needs 3.48 ≅ 3 Somewhat Effective
because I know my
priorities.
8. I find budgeting easy to
do. 3.16 ≅ 3 Somewhat Effective
9. I have a full understanding
of financial management 3.56 ≅ 4 Effective
skills that makes me capable
of handling my money
better.
10. I never got swayed into
buying unimportant things 3.5 ≅ 4 Effective
because I have my priorities.
Overall Weighted Mean 3.52 ≅ 4 Effective

Table 3.2 shows the result of the effectiveness of different financial management skills on
allowance allocation of the Grade 12 ABM students
The researcher found that Grade 12 ABM students tend to budget their money and spend
it carefully to avoid running out of money. This shows that students have knowledge of proper
financial management and they know the value of properly spending their allowance. Based on
the results, the total weighted mean is 3.52, which falls under the "Effective" category. It means
that the majority of students agree on the importance of financial management and it is effective
in allocating their allowance.
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HYPOTHESIS TESTING

Category 1: Influence of financial management skills on the allowance allocation of

Grade 12 ABM students

Step 1: H0: μ =3.00

Step 2: Level of Significance: 0.05

Step 3:
Class Frequency Class fx (x-x̅) (x-x̅)² f(x-x̅)²
Interval (f) Mark
(x)
5 16 5 80 1.1 1.21 19.36

4 20 4 80 0.1 0.01 0.2

3 9 3 27 -0.9 0.81 7.29

2 3 2 6 -1.9 3.61 10.83

1 2 1 2 -2.9 8.41 16.82

n = 50 ∑fx = ∑ f(x-x̅)²
195 = 54.5

𝟏𝟗𝟓
Weighted Mean = x̅ = = 3.9
𝟓𝟎

𝚺𝒇((𝐱−𝐱)² 𝟓𝟒.𝟓 𝟓𝟒.𝟓

s² = = = = 𝟏. 𝟏𝟏𝟐𝟐
𝒏−𝟏 𝟓𝟎−𝟏 𝟒𝟗

𝚺𝒇((𝐱−𝐱)²
𝝈 = √= = √𝟏. 𝟏𝟏𝟐𝟐 = 𝟏. 𝟎𝟓𝟒𝟔
𝒏−𝟏

𝐱̅−𝛍 𝟑.𝟗−𝟑
z= 𝝈 = 𝟏.𝟎𝟓𝟒𝟔 = 𝟔. 𝟎𝟑 (𝑡𝑒𝑠𝑡 𝑠𝑡𝑎𝑡𝑖𝑠𝑡𝑖𝑐 𝑟𝑒𝑠𝑢𝑙𝑡)
√𝒏 √𝟓𝟎
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Step 4: p - value = critical value - z value

p - value = 0.5 – 0.9999

p - value = -0.4999

Step 5: -0.4999 < 0.05, reject H0

Step 6: There is significant influence of financial management skills on the allowance
allocation of Grade 12 ABM students.

A related study by Darlynie & Sapiri (2020) found that student’s financial management
refers to the behavior and perceptions of how students manage their finances and handle
their money during studies. This results the study of Darlynie & Sapiri (2020) highlight the
importance of the behavior of how students should manage their allowances properly.
Therefore, the study of Darlynie & Sapiri (2020) supports the idea that the students’ financial
management skills impacts their overall budgeting skills so that they can manage their
expenses and allowances. This suggestion was tested by the researchers conducting
hypothesis z-testing. The results of the z-value, which is 0.9999 and p-value which is -0.4999
allow the researchers to reject the null hypothesis of this category, which states that the poor
financial management skills can lead to allowance shortage. Thus, there is a significance
between poor financial management skills and experiencing allowance shortage.
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Category 2: Factors that influence the allowance allocation of Grade 12 ABM students

Step 1: H0: μ =3.00

Step 2: Level of Significance: 0.05

Step 3:
Class Frequency Class fx (x-x̅) (x-x̅)² f(x-x̅)²
Interval (f) Mark
(x)
5 16 5 80 1.08 1.1664 18.6624
4 17 4 68 0.08 0.0064 0.1088
3 15 3 45 -0.92 0.8464 12.696
2 1 2 2 -1.92 3.6864 3.6864
1 1 1 1 -2.92 8.5264 8.5264
n = 50 ∑fx = ∑ f(x-x̅)²
196 = 43.68

𝟏𝟗𝟔
Weighted Mean = x̅ = = 3.92
𝟓𝟎

𝚺𝒇((𝐱−𝐱)² 𝟒𝟑.𝟔𝟖 𝟒𝟑.𝟔𝟖

s² = = = = 𝟎. 𝟖𝟗𝟏𝟒
𝒏−𝟏 𝟓𝟎−𝟏 𝟒𝟗

𝚺𝒇((𝐱−𝐱)²
𝝈 = √= = √𝟎. 𝟖𝟗𝟏𝟒 = 𝟎. 𝟗𝟒𝟒𝟏
𝒏−𝟏

𝐱̅−𝛍 𝟑.𝟗𝟐−𝟑
z= 𝝈 = 𝟎.𝟗𝟒𝟒𝟏 = 𝟔. 𝟖𝟗 (𝑡𝑒𝑠𝑡 𝑠𝑡𝑎𝑡𝑖𝑠𝑡𝑖𝑐 𝑟𝑒𝑠𝑢𝑙𝑡)
√𝒏 √𝟓𝟎

Step 4: p - value = critical value - z value

0.5 – 0.9999 = -0.4999

Step 5: -0.4999 < 0.05, reject H0

Step 6: There is significant factors that influence the allowance allocation of Grade 12 ABM
students.
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According to the study of Banquerigo et al. (2024) states that students nowadays have
tons of their own needs and wants when it comes to buying and using their own money. The
study have also stated that students spend their allowances mostly on foods and
transportations. Therefore, the study of Banquerigo et al. (2024) supports the concept of
students using their allowances based on their needs and wants, whether it’s on essential
things or non-essential things. After acquiring a z-value of 0.9999 and p-value of -0.4999,
the researchers reject the null hypothesis. This finding also matched the related study and
found that there is a significance between the ability to differentiate needs and wants and
effective financial decision-making.
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Category 3: Effect of budgeting techniques on Grade 12 ABM students’ allowance

Step 1: H0: μ =3.00

Step 2: Level of Significance: 0.05

Step 3:
Class Frequency Class fx (x-x̅) (x-x̅)² f(x-x̅)²
Interval (f) Mark
(x)
5 10 5 50 1.16 1.3456 13.456
4 23 4 92 0.16 0.0256 0.5888
3 16 3 48 -0.84 0.7056 11.2896
2 1 2 2 -1.84 3.3856 3.3856
1 0 1 0 -2.84 8.0656 0
n = 50 ∑fx = ∑ f(x-x̅)²
192 = 28.72

𝟏𝟗𝟐
Weighted Mean = x̅ = = 3.84
𝟓𝟎

𝚺𝒇((𝐱−𝐱)² 𝟐𝟖.𝟕𝟐 𝟐𝟖.𝟕𝟐

s² = = = = 𝟎. 𝟓𝟖𝟔𝟏
𝒏−𝟏 𝟓𝟎−𝟏 𝟒𝟗

𝚺𝒇((𝐱−𝐱)²
𝝈 = √= = √𝟎. 𝟓𝟖𝟔𝟏 = 𝟎. 𝟕𝟔𝟓𝟔
𝒏−𝟏

𝐱̅−𝛍 𝟑.𝟖𝟒−𝟑
z= 𝝈 = 𝟎.𝟕𝟔𝟓𝟔 = 𝟕. 𝟕𝟔 (𝑡𝑒𝑠𝑡 𝑠𝑡𝑎𝑡𝑖𝑠𝑡𝑖𝑐 𝑟𝑒𝑠𝑢𝑙𝑡)
√𝒏 √𝟓𝟎

Step 4: p - value = critical value - z value

0.5 – 0.9999 = -0.4999

Step 5: -0.4999 < 0.05, reject H0

Step 6: Budgeting techniques have significant effect on Grade 12 ABM students’
allowance.
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It is found that there are a few factors shaping the students’ basic knowledge on
financial management concept such as saving and budgeting that will help them to manage
their allowances effectively and to refrain on buying things that are not urgently needed. The
study by Lucero et al. (2024), found that comprehensive management skills are necessary for
students to efficiently manage their allowances. Therefore, the study by Lucero et al. (2024),
supports the idea that it is necessary to have a knowledge on saving and budgeting to help
them manage their allowances efficiently and effectively. This suggestion was tested by the
researchers conducting hypothesis z-testing. The results of z-value which is 0.9999 and p-
value which is -0.4999 allow the researchers to reject the null hypothesis of this category.
Thus, there are a significance between refraining from buying non-urgent things and the
ability to save money for more important things.
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Category 4: Importance of financial management skills on allowance allocation of Grade
12 ABM students

Step 1: H0: μ =3.00

Step 2: Level of Significance: 0.05

Step 3:
Class Frequency Class fx (x-x̅) (x-x̅)² f(x-x̅)²
Interval (f) Mark
(x)
5 9 5 45 1.44 2.0736 18.6624
4 18 4 72 0.44 0.1936 3.4848
3 17 3 51 -0.56 0.3136 5.3312
2 4 2 8 -1.56 2.4336 9.7344
1 2 1 2 -2.56 6.5536 13.1072
n = 50 ∑fx = ∑ f(x-x̅)²
178 = 50.32

𝟏𝟕𝟖
Weighted Mean = x̅ = = 3.56
𝟓𝟎

𝚺𝒇((𝐱−𝐱)² 𝟓𝟎.𝟑𝟐 𝟓𝟎.𝟑𝟐

s² = = = = 𝟏. 𝟎𝟐𝟔𝟗
𝒏−𝟏 𝟓𝟎−𝟏 𝟒𝟗

𝚺𝒇((𝐱−𝐱)²
𝝈 = √= = √𝟏. 𝟎𝟐𝟔𝟗 = 𝟏. 𝟎𝟏𝟑𝟑
𝒏−𝟏

𝐱̅−𝛍 𝟑.𝟓𝟔−𝟑
z= 𝝈 = 𝟏.𝟎𝟏𝟑𝟑 = 𝟑. 𝟗𝟏 (𝑡𝑒𝑠𝑡 𝑠𝑡𝑎𝑡𝑖𝑠𝑡𝑖𝑐 𝑟𝑒𝑠𝑢𝑙𝑡)
√𝒏 √𝟓𝟎

Step 4: p - value = critical value - z value

0.5 – 0.9999 = -0.4999

Step 5: -0.4999 < 0.05, reject H0

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Step 6: Financial management skills have significant importance on allowance allocation

of Grade 12 ABM students.

Financial Management Skills are important when it comes to handling the allowances of
the students. According to the related study by Bai (2024) good budgeting techniques have a
significant impact on their ability to manage allowances. Additionally, the ability to know
about financial management skills will help them to know the importance of handling their
money better for future needs. Therefore, this related study supports the idea that financial
management skills help students to handle their money better with the help of budgeting
techniques. After acquiring a z-value of 0.9999 and p-value of -0.4999, the researchers reject
the null hypothesis. Thus, financial management skills has significance on handling their
money better.
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DISCUSSION

The findings resulted that the financial management skills plays a significant role for
the Grade 12 ABM Students to allocate their allowances properly. Students who recognize
and possess basic knowledge on financial management concepts such as saving, budgeting,
differentiating between needs and wants, tend to allocate their allowances efficiently are more
likely to set aside a portion of their allowances for saving and essential expenses before
considering using their allowances on non-essential things.
The researchers have found that the spending behavior of the students were indicated
in the results by the respondents. Those who lack proper financial management skills tend to
spend their allowances impulsively on non-essential things such as luxury goods,
entertainment, online products and more instead of using their allowances on essential things
or for emergency purposes. In contrast, the students that are financially responsible are more
mindful of their spending behavior and prioritize on essential expenses rather than on non-
essential things.
The results also highlights that the students with higher financial management skills
tend to allocate their allowances effectively. These students prioritize essential needs like
foods, transportation, school supplies, before considering impulsive buying on things that are
non-essential needs. The respondents have shown the importance of financial management
skills is important for an everyday use.
The saving habits of the students were also highlighted by the respondents. One of the
key findings of financial management skills is the ability to save the student’s allowances,
may it be a big or small amount of money, developing better financial discipline. The
presence of saving habits among Grade 12 ABM Students suggests that they are prioritizing
and recognizing the importance of setting aside some funds for emergency purposes, essential
things or for future purposes. However, there are a few students who struggle with saving
allowance because of impulsive buying and peer pressure.
Budgeting effectively emerged as one of the important skill to have when it comes to
financial management skills on allocating the allowances. The ability of the students to
budgeting effectively is one of the key factors influencing the students’ financial
management. It is found that the students who adhere on a budgeting plan experiences less
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financial strain compared to those who does not adhere on a budgeting plan. A structured
budgeting plan to allocate their money wisely, ensuring essential things on important and
essential things like foods, school supplies, transportation and more.
Financial Literacy is also linked to students’ confidence on saving, budgeting and
managing their allowances. There are a lot of students that are exposed to the knowledge of
financial literacy through education, guidance of their parents, self-learning, and more
structured approach to handling their money.
Challenges in Financial Management were also highlighted in the results by the
respondents. Despite the knowledge of financial literacy, saving and budgeting, these
students still face challenges when it comes to managing their money. The most common
challenges that they face are the peer pressure, social influences, lack of proper financial
education, and the difficulty between needs and wants that results to impulsive buying.
Additionally, our society expanded with online payments which can lead to overspending.
The researchers also found that these key factors can lead to a motivation for the
students to budget and save their money effective for their future needs. Instead of using their
money on non-essential things, these key factors will help them to manage their money for
better usage. The participants agreed that they have a better understanding on financial
management skills on allocating their allowances and can manage their money effectively.
The overall weighted mean for each category shows that most of the students agreed
with all the research questions. Thus, based on the weighted mean gained, the researchers
were able to test the hypotheses and see the results if it is rejected or not. The researchers
rejected all the null hypotheses which means that there is a significant impact of financial
management skills on allowance allocation among Grade 12 ABM students. The financial
management skills come with the financial management factors such as budgeting, saving,
managing that strengthen the students’ financing their money effectively.
These findings suggest that enhancing the basic knowledge of financial literacy
especially to students and focusing on the importance of allocating the students’ allowances
that build to enhance their knowledge when it comes to handling their money for future needs
are hugely important. The respondents’ agreement on these knowledge suggest a better
outcome for allocating the allowances of these students.
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CHAPTER IV

SUMMARY, CONCLUSION, AND RECOMMENDATION

This section provides brief summary of the findings throughout the study. It aims to
provide readers with a clear understanding of the study and potential recommendations for
future researchers.
Summary
The researchers conducted the study “Impact of Financial Management Skills on
Allowance Allocation among Grade 12 ABM Students” which is significant in improving the
learning ways about the financial literacy among the ABM students. The researchers have
found the lack of proper budgeting, saving and managing these students’ allowances that lead
to formulation of this research. It establishes the importance of financial management skills
in students’ lives emphasizing how proper allocation of allowances can lead to better
financial decisions. The research problem seeks to determine how well students manage their
allowances and whether financial literacy influences their spending habits and behaviors. The
researchers used a descriptive type of research to guide the researchers to acquire valuable
information. It explores theories from the same studies about budgeting, saving and managing
allowances, drawing insights from previous studies. It highlights the importance of financial
management skills and allowance allocation and how it impact spending behavior of the
students, forming the theoretical framework and conceptual framework that guides the study.
The researchers gathered data through the use of two sections of likert scale of survey
questionnaire that consists of 25 items answered by 50 respondents, namely the Grade 12
ABM students in Philippine Christian University. In order to give reliable research findings,
the researchers used quantitative approach such as hypothesis z-testing and weighted mean
to support how students allocate their allowances and whether financial management skills
influences their spending behavior. With all the weighted mean resulting in an interpretation
of agree and all the z-values, the researchers rejected all the null hypothesis confirming that
financial management skills significantly impact the allowance allocation of Grade 12 ABM
students. The findings indicates that financial management skills can enhance students’
ability to manage their finances effectively.
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Summary of the Findings

Table 4.1 Grand Weighted Mean

Statistical Treatment Result Description
Grand Weighted Mean 3.45 Neither or Somewhat
Effective
Table 4.1 shows the findings of the overall weighted mean
The overall weighted mean of 3.45 shows that the financial management skills of Grade
12 ABM student are perceived as neither effective nor ineffective. The impact of financial
management skills has a moderate influence on how Grade 12 ABM students allocate their
allowances.
Table 4.2 Findings for Hypothesis Z-testing
Category Decision Result
Category #1 Reject the null hypothesis There is a significant
influence of financial
management skills on the
allowance allocation of
Grade 12 ABM students.
Category #2 Reject the null hypothesis There are significant factors
that influence the allowance
allocation of Grade 12
ABM students.
Category #3 Reject the null hypothesis Budgeting techniques have
a significant effect on
Grade 12 ABM students’
allowance.
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Category #4 Reject the null hypothesis Financial management

skills have a significant
importance on allowance
allocation of Grade 12
ABM students.
Table 4.2 shows the findings for hypothesis testing

The findings of the hypothesis z-testing led to a decision to reject all the null hypothesis.
Financial management skills significantly impact their overall budgeting abilities, allowing
them to manage their allowances effectively and different factors do influence Grade 12 ABM
students’ allowance allocation. Furthermore, knowledge of proper saving and budgeting helps
to avoid unnecessary purchases, better prepare for essential expenses and it also has a
significant effect on students' ability to manage their money better for the future.
Conclusion
After analyzing the data and interpreting the findings which are presented in Chapter
4, the researchers were able to answer the inquiries presented in the research paper’s
introduction. The researchers concluded that:
1. Financial management skills do influence the allocation of allowances of the Grade
12 ABM students as financial management skills involves budgeting, saving and
spending
2. Here are the following factors that can primarily influence the allowances of the
Grade 12 ABM students;
 Impulsive Spending –Being unable to know the difference between the two
will lead into careless spending that will eventually result into allowance
shortage.
 Peer Influence - Some of the students would encourage the other students
to buy the exact same thing they want to buy, swaying them into
unnecessary spending.
 Proper Budgeting – Monitor spending and differentiate between wants and
needs.
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3. Here are the following budgeting techniques that the Grade 12 ABM uses for a
successful budgeting of their allowances;
 Saving – Grade 12 ABM students save a little from their allowances to set
aside to be used in the future when it’s needed.
 Refraining into buying unnecessary things – Grade 12 ABM students
refuses to get swayed into buying things they don’t really need.
 Tracking –Grade 12 ABM students track their allowances regularly to avoid
allowance shortage.
 Knowledge – having knowledge about how important financial
management skills can save a lot of money.
 Priorities – a person will never get swayed into buying unnecessary items
if they know their priorities.
4. Here are the following importance of financial management skills on budgeting
among the Grade 12 ABM students’ allowance;
 Encourages Self-discipline – having knowledge about financial
management skills on budgeting are essential skills to learn about for it to
be a good help not only for the present, but also for the future financial
challenges.
 Saving – proper budgeting also encourages saving, little by little for it to be
put in good use in the future.
 Reduce Stress – having an excellent financial management skills will
prevent from experiencing financial stress, usually occurs when there is a
financial shortage.
 Promotes Financial Independence – learning how to manage and keep track
at your own money at a young age, specifically as a Grade 12 ABM student
is such an advantage for future purposes.
5. All of these factors has an impact on financial management skills of the Grade 12
ABM students’ allowance allocation.
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Recommendation
To support students in their financial management journey, the researcher has
formulated the following recommendations for future researchers to consider in their next
studies. These recommendations are as follows:
1. School-based Financial Literacy Programs: Financial management skills have a direct
effect on students spending behavior concerning their allowance, schools should provide
more financial literacy programs. Teachers can include basic financial management topics in
subjects like Business Math or Entrepreneurship. Schools could also hold workshops or
seminars on budgeting, saving, and spending wisely. Schools could also conduct workshops
and seminars, these not only enhance students' financial management skills but also prepare
them to face realistic financial issues.
2. Future researchers should explore other factors, such as family income, peer influence and
lifestyle choices. By understanding these factors, schools and parents can better support
students in making smarter financial decisions. It would also be interesting to study other
modern financial habits, such as digital wallets and cashless payments.
3. This research focused only on ABM students. However, financial management is an
important skill for all students, regardless of their academic strand. Future studies could
compare how students from STEM, HUMSS, and TVL strands manage their money. This
could help determine whether students from different strands have different financial habits.
Schools can then form financial education programs to address the special needs and
situations of each strand.
4. Working on Efficient Budgeting Models: As budgeting models were found to considerably
affect students' spending of allowance, further research should explore which budgeting
methods work best for its senior high school students. Studying real-life cases of students
who successfully manage their allowances can help identify the best budgeting strategies for
different types of students.
5. Parents play a big role in shaping their children’s financial habits. Future research could
look into how parental guidance affects students’ financial management skills. Schools can
also partner with parents by providing resources on financial education or organizing parent-
student financial planning workshops.
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6. Dealing with Common Problems of Money Management: Not all students are good at
managing their allowances and some may struggle with overspending, peer pressure, or lack
of financial knowledge. Future researchers could investigate the common challenges students
face when managing their money and suggest ways to help them. Understanding these
difficulties could lead to better financial programs and support systems for students who need
help improving their financial management skills.
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References

Ahmad, Nurhafizah & Hamat, Muniroh & Alias, Fadzilawani & Mohamed, Siti & Shuaib,

Norshah. (2024). Understanding the Relationship Between Financial Literacy and

Spending Habits in University Students. International Journal of Academic Research in

Business and Social Sciences. 14. 10.6007/IJARBSS/v14-i9/22785.

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