SPENDING HABITS OF GRADE 10 STUDENTS BASED ON GENDER IN HOLY

CROSS ACADEMY, INC.

A Research Paper Presented to the Senior High School Department

Holy Cross Academy, Inc., Digos City

In Partial Fulfillment for the Requirement of the Subject

PRACTICAL RESEARCH 2

Ms. Iljeanne M. Tortal

Subject Teacher

Barcibal, Denver
Cavan, Francis Ryan
Causing, Khrystin
Pentado, Junissa
Valeria, Renee Angela
 CHAPTER 1

THE PROBLEM AND ITS SETTING

Introduction

Living creatures... are bundles of habits and those habits that have an innate
tendency are called instincts Error: Reference source not found. People may not realize
it and act as if it is just a natural way. Sometimes we are influenced by our
surroundings, by the people we choose to surround ourselves with. We may not realize
that we are influenced by factors like our culture, religion, social media and our own
unique personalities. For this reason, the researchers wish to conduct a study on the
spending habits of the junior high school students of Holy Cross Academy Inc.
specifically Grade 10 students. We would like to know if what we perceive to be a
natural practice can be a good or a bad habit to continue. It is believed that, big
spenders at a young age are more likely to have financial problems in the later stage of
their lives.

Globally, due to pandemic, pandemic-influenced consumer patterns rendered

many historic demand models obsolete. Complicating factors will be that demand and
preferences will evolve unevenly and at different rates across the globe. Understanding
consumers’ financial well-being may become key to regional and local market trends
Error: Reference source not found. When we get down to forces that affect our
spending in the real world, it’s a very different story. Emotions are one of the strongest,
if not the strongest influence on our spending habits. Error: Reference source not found

In some studies, conducted in the Philippines, spending behavior is a learned

pattern of conduct that is repeated on a regular basis thus a habit. A good spending
habit is a crucial component of financial success Error: Reference source not found.
The adolescent of today is developing in a society of obligation assisted by luxurious
ways of life and simple credit. It was proven that adolescence spend significantly. It was
also found out that the ethnic identities had another difference at purchasing amounts of
goods especially on consumption goods Error: Reference source not found. According
to Tew (2012), the spending behavior of students in modern times has emerged as an
essential concern in our society. He also concluded that socioeconomic status issue
influences the spending behavior of the students.

Locally, according to the study conducted by the group of students from Malayan
Colleges Mindanao, the way students manage their finances is directly proportional to
the amount of allowance their parents give. If a student receives less allowance for a
week, he/she knows that there is less to spend. These gives them a better sense of
financial awareness, establishing priorities for them to rationalize and spend their
money effectively Error: Reference source not found. Mostly, students tend to spend
their allowances carelessly without thinking of saving. But there are students who also
consider saving depending on the economic stability and behavior of the students
themselves.

Statement of the Problem

1. What is the level of spending habit of male respondents?

2. What is the level of spending habit of female respondents?

3. Is there a significant difference in spending habit of male and female respondents?

Null Hypothesis

There is no significant difference in the spending habit of male and female respondents.

Significance of the Study

The study will be a great benefit to the following:

Students: It will make the students aware about their spending habits and help them
control it.
Teachers: It helps them track their own spending habits and can be a good example to
their students on how to handle financial problems.

Personnels: Give them understanding that spending money irrationally can be a bad
example to students and teachers alike.

Scope and Limitation

The respondents of this research were the grade 10 students of Holy Cross
Academy. The research will focus on 10 male and 10 female respondents. The
procedure that will be used is sampling distribution of mean. The research will be
applicable only to the grade 10 students in Holy Cross Academy, Inc.

DEFINITION OF TERMS

Habit – is settled or regular tendency or practice, especially one that is hard to

give up.

Essential – absolutely necessary; extremely important.

Economic Stability - is the absence of excessive fluctuations in the

macroeconomy. An economy with fairly constant output growth and low and
stable inflation would be considered economically stable.

Adolescence - is the phase of life between childhood and adulthood, from

ages 10 to 19. It is a unique stage of human development and an important time for
laying the foundations of good health.

Priorities - a fact or condition of being regarded or treated as more important.

Budget - an estimate of income and expenditure for a set period of time.
Theoretical/Conceptual Framework

The Theory of Planned Behavior (TPB). Started as the Theory of Reasoned Action in
1980 to predict an individual's intention to engage in a behavior at a specific time and
place. The theory was intended to explain all behaviors over which people have the
ability to exert self-control. The key component to this model is behavioral intent;
behavioral intentions are influenced by the attitude about the likelihood that the behavior
will have the expected outcome and the subjective evaluation of the risks and benefits
of that outcome. Error: Reference source not found

Grade 10 Students
Gender
1. Male
Spending Habit
2. Female

Figure 1. Schematic Diagram showing the Variables of the study

 CHAPTER 2

Review of Relevant Literatures and studies

The literature and studies listed below will help readers have a deeper
knowledge of the many indicators of this study. These include the varying attitudes of
students toward research as well as an additional explanation of the indicators of this
study, which are listed below.

Budget
According to Error: Reference source not found a typical 18-year-old is not a
“budgeter.” They typically don’t realize what they are spending money on. An
important part of being successful with their money is being able to track it. Students
can take advantage of whatever tool (an app, a spreadsheet, whatever works) that
makes it easiest for them. Make them a list of the categories they will need to pay for
on their own and simply set a weekly budget amount to spend. If the weekly budget is
blown through in one week, the student knows they have less to spend the following
week. Keep it simple, and students will learn some great financial habits . The best
way for students to be responsible for their spending money is through employment.
Students can work over summer and holiday breaks. A typical college semester is 15
weeks long. A student planning on spending $50 per week will need to save $750 to
cover those weeks. Error: Reference source not found

College is a phase of transition in many ways. Most students go to college with

hopes of acquiring skills and qualifications that would get them better jobs, thereby
allowing them to lead better quality lives. From a financial point of view, this phase is
peculiar, making college student spending statistics worth analyzing. A lot of individuals
end up with significant debt as a result of going to college. This is also the period when
a lot of students get their first credit cards and begin to have a lesser degree of checks
on their spending. Many students try to be frugal with food at times when they are
struggling to manage expenses. At the same time, with peer pressure and social media
pressure becoming a major player today, food bills have also acquired the tendency to
inflate as students increasingly opt for fancy food choicesError: Reference source not
found

The characteristics of student spending generally include greater money spent

on food, entertainment, electronic devices, and personal care products. Teenage
spending often involves cash spent on clothing, music, movies, and video games. While
many college students spend money on these same items, their expenses are often
larger for this category of students. Teenagers usually have access to food at home, so
the bulk of their spending tends to revolve around entertainment and clothing. The
teenage years present social pressures related to fitting in with peers and preserving a
specific image. Wearing the right brand-name clothing and shoes as well as keeping up
with the latest fashion trends is a large part of creating and preserving this image.
Teenage spending also often includes purchases of video games and music. These
items are common components of social activities and interaction among teenagers.
Error: Reference source not found

Student budgeting refers to the management of financial expenses within the

budget given to them. The major challenge that students face is the difficulty to budget
their expenses and save a proportional amount every time for contingent events since
most of students get their monthly allowance from their parents and are responsible for
their own expenditures. The term budgeting behavior refers to a desirable financial
behavior to indicate consumer financial capability. Several factors influence the
students’ budgeting behavior. These factors can be technical as well as psychological
and controllable or uncontrollable, in addition, the advanced marketing strategies of the
firms have made the students spend extravagantly not just on needs but also on wants.
Error: Reference source not found
 Savings and spending are two sides of a coin. Saving and spending are
mutually interrelated. For many young people, the transition from childhood to adulthood
is difficult. Young people must overcome the hurdles of leaving their parental home,
entering the workforce, and starting a family. However, the task for today’s young
people is even greater because they must achieve all of this while dealing with a failing
economy. Increased pocket allowances and employment possibilities allow the
youngsters to become one of the most powerful spending forces. The youngsters
spending and saving patterns reveal not only economic and lifestyle trends, but also
bigger social trends of the country. Two basic characteristics associated with the
spending behavior of the youngsters’ preference for shopping online and the increasing
brand awarenessError: Reference source not found.
 Chapter 3

Research Methodology

This chapter contains the method of research, population, sample size, and
sampling technique, description of respondents, research instruments, data gathering
procedure, and the statistical treatment of data used in the conduct of this study.

Research Method

The researchers used the survey methodology. This method enabled the
researchers to collect information from the respondents by asking multiple survey
questions. This allowed the researchers to understand students’ opinions, preference
and behavior, making it crucial for the research and decision making.

Population, Sample Size and Sampling Technique

Selected Grade 10 students were utilized for this study. The researchers utilized
the stratified random sampling method in selecting the respondents. Stratified random
sampling is a method of sampling that involves the division of population into smaller
groups known as strata (as in section). In stratified random sampling, the strata are
based on members shared attributes of characteristics.

The sample size was determined using the Yamane's Formula which is

n= N/1+*(e)2

n- the sample size

N- the population size

e- the acceptable sampling error

*95% confidence level and p=0.5 are assumed Research Instrument

Respondents

In this study, the researchers chose 20 students (10 male and 10 female
respondents) each section from grade 10 level at Holy Cross Academy, Inc. located at
Gallarde Street, Brgy. Zone II, Digos City, Philippines. Please keep in mind that this
study is hypothetical and therefore, the data gathered is also hypothetical.

Research Instruments

Researchers use stratified sampling to arrange participants into subgroups

known as strata according to shared features (e.g., race, gender, educational
achievement). After being partitioned, a different probability sampling technique is used
to randomly sample each subgroup.

Grade 10 Population Percentage Sample

Male 45 43.69% 10

Female 58 56.31% 10

Total 103 100%

Data Gathering Procedure

The following procedure have been carried out by the researcher in conducting the
study.

Letter of Permission. In order to conduct this study, a letter of permission

was addressed to the Directress of Holy Cross Academy Inc. The survey questionnaire
was prepared by the lead researcher of this study along with the associate researchers.
Another letter was also addressed to the respondents for their awareness and
preparation.

Administration and Retrieval of Instruments. The researchers distributed

the questionnaire and waited for the respondents to complete it before retrieving their
responses.

Collection and Processing of Data. After collecting the data, the

researchers will summarize and total all of the responses before submitting them to the
statistician.

Statistical Treatment of Data. The following statistical tools were used in the analysis
of data.

Mean Score: This refers to the sum of all the respondents’ responses as points.
 Chapter 4

PRESENTATION AND ANALYSIS OF FINDINGS

In this chapter, the results of this study were presented and analyzed to

answers the statement of the problem.

Table 1: Demographics of the respondents

Section Frequency Percent Valid Percent Cumulative Percent

Immaculate Conception 16 42.105 42.105 42.105
Lady of Lords 22 57.895 57.895 100.000
Total 38 100.000

Gender Frequency Percent Valid Percent Cumulative Percent

Female 23 60.526 60.526 60.526
Male 15 39.474 39.474 100.000
Total 38 100.000

Table 2: Monthly Allowance of the Respondents

How much is your monthly allowance? Frequency Percent

1000-1500 PHP 7 18.421
1500-2000 PHP 4 10.526
500-1000 PHP 27 71.053
The result of the descriptive statistics shows that majority of the respondents have a
monthly allowance of 500-1000 Pesos (n=27, %=71.05%).

Table 3: Respondents Percentage of Allowance Spent for Personal Needs

Frequency Percent
10% 13 34.211
20% 6 15.789
30% 10 26.316
40% 2 5.263
50% 2 5.263
60% 1 2.632
80% 1 2.632
90% 1 2.632
100% 2 5.263

The result of the descriptive statistics shows that majority of the respondents allocates
10% and 30% of their allowance on their personal needs. Noticeably, 2 respondents or
5. 25% of those surveyed, spent their whole allowance on their personal needs.

Table 4: Respondents Percentage of Allowance Spent for Food

Frequency Percent
10% 6 15.789
20% 10 26.316
30% 9 23.684
40% 5 13.158
50% 1 2.632
70% 1 2.632
80% 1 2.632
90% 2 5.263
100% 2 5.263
The result of the descriptive statistics shows that majority of the respondents allocates
20% and 30% of their allowance on their Food. Noticeably, 2 respondents or 5. 25% of
those surveyed, spent their whole allowance on their foods.

Table 5: Respondents Percentage of Allowance Spent for Academic Purpose

Frequency Percent
10% 9 23.684
20% 7 18.421
30% 12 31.579
40% 2 5.263
50% 1 2.632
70% 1 2.632
80% 3 7.895
90% 1 2.632
100% 2 5.263
_________________________________________________________________
The result of the descriptive statistics shows that majority of the respondents allocates
30% of their allowance on Academic Purposes. Noticeably, 2 respondents or 5. 25% of
those surveyed, spent their whole allowance on their Academic Performance.

Table 6: Respondents Percentage of Allowance Spent for Transportation

Frequency Percent
10% 11 28.947
20% 5 13.158
30% 10 26.316
40% 6 15.789
50% 3 7.895
80% 2 5.263
100% 1 2.632
The result of the descriptive statistics shows that majority of the respondents allocates
10% and 30% of their allowance on Transportation. Noticeably, 1 respondent or 2.53%
of those surveyed, spent his whole allowance on his transportation.

Table 7: Spending Behavior of the Respondents

SPENDING BEHAVIOUR Mean Std. Deviation Interpretation

Personal needs 2.926 0.789 Moderate
Foods 3.432 0.958 High
Academic purpose 3.032 0.795 Moderate
Transportation 2.984 0.967 Moderate
Overall 3.094 0.877 MODERATE

The result of the descriptive statistics shows that overall spending behavior of the
respondents is Moderate (M=3.094, SD=0.877). Only foods got a high spending
behavior with mean of 3.432, SD=0.958.
 CHAPTER 5

SUMARRY, CONCLUSIONS AND RECOMMENDATIONS

This chapter presents the summary of findings; the conclusions made,

and the recommendations offered.

Summary

This study was conducted in Holy Cross Academy Incorporated. The purpose of
this study is to know the spending habits of the grade 10 students. Many students
struggle to budget their allowance and tends to waste their money on useless things.
This study seeks to know how the grade 10 students budget their money on everyday
basis. Specifically, the researchers try to answer the following questions:

1. What is the level of spending habit of male respondents?

2. What is the level of spending habit of female respondents?

3. Is there a significant difference in spending habit of male and female

respondents?

Conclusions

The following conclusions are drawn based on the findings of this study
1. The level of spending habit of male respondents is MODERATE.

2. The level of spending habit of female respondents is MODERATE.

3. The overall spending behavior of the male and female respondents is MODERATE.
4. There is NO significant difference in spending habit of male and female respondents.

Recommendations

The researcher’s formulations of the following recommendations are based on these

conclusions:

1. Students need to know their wants and needs. Needs are the essentials of day-
to-day life, and wants are the desired things of students. Knowing this, the
students can separate their necessities and desires, making them rationalize
between the two.

2. Creating a budget list can help the students arrange their budget, helping them
spend their money wisely and essentially. A budget list helps a person keep track of
their spending and gives them peace of mind.
 References
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