1

Chapter I

INTRODUCTION

Background of the study

Financial challenges can really affect students in many

ways. Struggling to pay for things can make students feel

very stressed and worried, making it hard for them to

focus on their studies. Always being concerned about how

to afford things like school fees, books, rent, and other

important stuff can make it difficult for them to

concentrate and be well. This financial pressure can also

make students take on extra jobs or take fewer classes,

which can lower their grades and make it take longer to

finish school. Also, not having enough money can affect

students decision-making and well-being. If they do not

have the right resources, students might miss out on good

experiences like internships, events to meet people, or

activities outside of classes that could help them get

better at things and succeed in the future. Worrying

about not having enough money can make students feel like

they're not good enough or like they are pretending to be

someone they are not, which can make them doubt

themselves. Overall, money problems can be big obstacles

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to students getting better at everything and doing well

in school and in life.

Around 48% of students who had encountered financial

difficulties throughout their education acknowledged that

their financial situation made it difficult for them to

focus on their studies (Mowreader, 2022). Comparatively

to their peers, nontraditional students, first-generation

students, and students with jobs were more likely to

report that financial problems made it difficult for them

to concentrate on their studies. The Philippine

Statistics Authority has reported that approximately 16.7

million Filipinos live below the poverty line, with many

of them struggling to make ends meet on a daily basis.

Consequently, education becomes an unaffordable luxury

for many families, especially those living in the most

impoverished communities. The inability to send their

children to school forces them to work instead,

perpetuating the cycle of poverty for generations

(Bai, 2023).

The Department of Education (DepEd) has established in

place a number of programs to help students who are

struggling financially. These initiatives include the

Alternative Learning System, school nutrition programs,

conditional cash transfer participation, student loan

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programs, and scholarships. These programs seek to

improve student access to and affordability of education

for all students, irrespective of their financial

situation. Department of Education (DepEd) strives to

guarantee that all students have equal possibilities to

finish their education by offering support and financial

aid. Department of Education has implemented a policy

that prohibits students from contributing financially to

school-related expenses. But along to this it is not

enough to support and prevent the financial challenges of

the student, even that programs is already implemented

there are a lot of students who is still struggling with

this problem, and choosing to work rather than to finish

there education.

Catarman National High School students is also facing

Financial challenges, where students is struggling for

their financial expenses, there twenty pesos budget is

good for their snacks, lunch, and even their afternoon

snacks. They also have to walk home because they don’t

have enough money for transportation. With it comes to

school contribution many students are choosing to help

out with other activities instead of contributing

financially. They are only giving their time and effort

as contribution instead of giving money. Other activities

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like practices and group study for their performance

task, many students failed to attend because they don’t

have budget for transportation, resulting them to being

not belong to the group and being failed for the subject.

There is we so called 4P’s or Pantawid Pampamilyang

Pilipino Program where helps the students and parents by

their expenses, every month they will receive an amount

that regards to their grade level, and it helps the

students to buy their school expenses and other supplies.

This program is only available to a family with a small

income.

The financial obstacles faced by students is essential

for comprehending the extent of the issue, pinpointing

contributing factors, devising effective remedies, and

advocating for fairness and inclusivity in education.

Through analyzing the prevalence, characteristics, and

seriousness of these obstacles, researchers can measure

the scale of the problem and highlight specific areas of

concern. Delving into the root causes—such as escalating

tuition fees, limited financial aid, and inadequate

financial knowledge—enables the formulation of precise

strategies to tackle these fundamental issues. This study

can guide the development of evidence-based

interventions, like initiatives enhancing financial

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literacy, broadening scholarship and grant accessibility,

and providing more flexible work-study options.

Ultimately, exploring these inequities supports the

promotion of policies and initiatives that uphold

fairness and ensure that every student has an equitable

opportunity to thrive, regardless of their financial

circumstances.

Objective of the study

This study tries to find out the Financial challenges,

well-being and decision-making of grade 12 senior high

school students at Catarman National High school.

Specifically this study aimed to;

1. describe the profile of the grade 12 senior high school

students in terms of demographic characteristics in

terms of:

1.1 age;

1.2 gender; and

1.3 household income

2. determine the financial challenges of Grade 12 Humss

students

3. determine the emotional and mental well-being of Grade

12 Humss students
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4. determine the financial decision-making of Grade 12

Humss students

5. know the relationship between profile and financial

challenges of Grade 12 Humss students

6. Know the relationship between profile, emotional and

well-being of Grade 12 Humss student.

7. Know the relationship between financial challenges,

emotional and mental well-being of Grade 12 Humss

students

8. Know the relationship between profile and decision

making of Grade 12 Humss students

Significance of the study

The result of this study will benefit the following:

Grade 12 Students. This study will help the students by

gaining valuable insights into their financial challenges

and learning strategies to enhance their decision-making and

overall well-being.

Teachers. They could help each other to develop

customized financial literacy programs and curriculum that

cater to students' specific needs, providing better support.

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Parents and Guardians. This research can help as a

guide to help their children with financial education and

tackle possible obstacles in this area, and this can help

there children to foster responsible financial habits.

School administrators. This study can use to pinpoint

areas where they can enhance support services for students

experiencing financial difficulties.

Future Researchers. This study can contribute to the

existing knowledge base on adolescent financial behavior and

well-being through this study.

Scope and Limitation

This research focuses on the financial challenges,

well-being, and decision-making of Grade 12 students in all

strands, exploring the unique pressures and experiences they

face during this crucial transition period.

This study may be limited by the sample size and

representativeness of participants and the subjectivity of

quantitative data.
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Theoretical Framework

This theoretical framework integrates well-established

principles from psychology, economics, and education to

explore the intricate connections among financial hurdles,

well-being, and decision-making within Grade 12 senior high

school students at Catarman National High School.

Stress and Coping Theory (Lazarus & Folkman, 1984)

Lazarus and Folkman's stress and coping theory highlights

that stress is not solely a response to external events, but

rather a subjective process shaped by an individual's

perception and evaluation of those events. It emphasizes the

importance of primary appraisal, where the researcher assess

whether the event is a threat, a challenge, or a loss.

Secondary appraisal follows, where the researcher evaluate

the resources and coping strategies to handle the situation.

Coping strategies, such as problem-focused coping and

emotion-focused coping, play a crucial role in managing

stress. By understanding the cognitive processes involved in

stress and the various coping mechanisms available,

individuals can develop effective strategies to mitigate the

negative impact of stressors on their well-being.

Lazarus and Folkman's stress and coping theory is

particularly relevant when studying the financial challenges

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faced by Grade 12 senior high school students. This theory,

which emphasizes the role of personal perception and coping

strategies, provides a useful framework for understanding

how students perceive and manage financial stress. By

examining how students assess financial situations (primary

appraisal) and then choose their coping mechanisms

(secondary appraisal), researchers can gain valuable

insights into the psychological impact of financial

challenges on this age group. This knowledge can then be

used to develop targeted interventions that support their

decision-making and overall well-being.

Self-Determination Theory (Deci and Ryan, 1985)

explores what drives us as humans. It suggests that the

researcher naturally motivated when the fundamental needs

for autonomy (feeling in control), competence (feeling

capable), and relatedness (feeling connected) are met. When

these needs aren't met, It might become extrinsically

motivated, relying on external rewards or pressures to get

things done. This theory has been applied in various fields,

offering valuable insights into how to understand and

encourage people's motivation.

Self-Determination Theory (SDT) is a valuable tool for

understanding the financial challenges, well-being, and

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decision-making of Grade 12 students. It helps the students

see how their motivation and behavior are influenced by

their psychological needs. By examining how well their needs

for autonomy (feeling in control), competence (feeling

capable), and relatedness (feeling connected) are met, we

can gain insight into their financial decision-making

processes. This understanding can then be used to develop

interventions that support their well-being and help them

cope with challenges.

Social Cognitive Theory (Bandura, 1986) highlights how

people, their environment, and their behavior all influence

each other. It suggests that a students can learn by

watching and imitating others, and that there actions are

shaped by beliefs, expectations, and confidence. By

understanding these factors, Social Cognitive Theory

provides a framework for understanding how individuals learn

and grow, and has implications for promoting positive

change.

Social Cognitive Theory (SCT) provides a helpful lens

for understanding how Grade 12 students develop their

financial behaviors, and how those behaviors impact their

well-being and decision-making. SCT recognizes that students

learn financial habits by observing and imitating those

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around them – their peers, family, and even role models. It

also emphasizes the importance of self-efficacy, or a

student's belief in their ability to manage their finances.

By understanding these factors, researchers can develop

interventions to improve financial literacy, encourage

positive financial habits, and support students' overall

well-being.

The Theory of Planned Behavior (Ajzen, 1991) helps

understand why people behave the way they do. It suggests

that intentions drive our actions, and these intentions are

shaped by three things: our attitudes, what we think others

expect of us (subjective norms), and how much control we

feel we have over the situation (perceived behavioral

control). In essence, TPB says we are more likely to do

something if we like it, think others approve, and believe

we can actually do it. This theory has been used in many

fields to predict and understand human behavior.

The Theory of Planned Behavior (TPB) is a helpful tool

for understanding why Grade 12 students make the financial

choices they do. It suggests that a student's intention to

engage in a particular financial behavior is influenced by

how much they like or dislike the behavior, what they think

other people expect of them, and how much control they feel
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they have over the financial decision. By understanding

these factors, researchers can gain insight into the

psychological reasons behind students' financial decisions

and develop programs to improve their financial literacy,

encourage positive financial habits, and promote their

overall well-being.

Human Capital Theory (Gary Becker, 1964),education and

training as investments that individuals make to boost their

earning potential. It's like an investment with expected

returns and costs. According to this theory, individuals

will invest in education up to the point where the benefits

outweigh the costs. This theory has been influential in

understanding the connection between education, income, and

overall economic growth.

Human Capital Theory helps us understand how education

connects to future financial success, which is especially

important for Grade 12 students. This theory suggests that

students who invest in their education by completing high

school and pursuing further studies are more likely to earn

more and have better job opportunities in the future. This

positive impact on their financial well-being can also help

them make better financial decisions. By understanding this

connection between education and financial success,

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researchers can develop programs to help students make

informed decisions about their education and career paths,

leading to better financial prospects and a more secure

future.

Social Capital Theory (Pierre Bourdieu, 1986), suggests

that our social networks and relationships are valuable

assets. These connections provide us with access to

resources and opportunities, known as social capital. This

social capital can influence our chances of getting a good

education, finding a job, and achieving success in life.

Bourdieu believed that social capital is often distributed

unevenly, which contributes to societal inequality.

Social Capital Theory is a helpful lens for

understanding how Grade 12 students' social connections

affect their financial situation and overall well-being. It

suggests that students with strong social networks, like

supportive families, friends, and mentors, have access to

valuable resources and opportunities. These resources could

include financial advice, job leads, or just emotional

support. Social connections can also make students feel like

they belong and are supported, which is important for their

overall well-being. Researchers can use this understanding

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to develop programs that promote positive relationships and

help students overcome financial challenges.

Conceptual Framework

This study examines the relationship between financial

challenges, well-being, and decision-making of Grade 12

Senior High School students in Catarman National High

School. It makes the argument that having financial

difficulties can have a negative general well-being impact

on students, increasing stress and anxiety as well as

lowering academic achievement. Furthermore, the study

asserts that these difficulties may influence students'

decision-making, particularly with regard to their future

professional and academic endeavors as well as personal

finance management. The research strives to provide

educators, policymakers, and support services with vital

insights to address the unique requirements of senior high

school students and improve their overall welfare by

analyzing the complex relationships between these

components.

Financial obstacles, such as low income, debt from

student loans, or unstable family finances, will be examined

in this study to see how they affect students' mental,

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emotional, and physical well-being. Moreover, it will

examine the ways in which these obstacles affect students'

ability to make educated decisions about college, career

pathways, and financial planning. Understanding these

relationships will enable the research to identify practical

strategies for assisting students in overcoming financial

challenges and achieving their goals, both academic and

personal.

Paradigm of the study

INDEPENDENT
VARIABLE

DEPENDENT
VARIABLE

Profile Well Being

Well-being

Financial
Challenges
Decision-making

Definition of terms
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In order to give a common definition, the following

terms were defined. To provide a common frame to facilitate

understanding on the part of the readers.

Challenges. Conceptually, it refers to something

difficult or demanding that tests your abilities or requires

effort to overcome. In this study it refers to the obstacles

or difficulties that students face when managing their

finances.

Decision-making. Conceptually, it is the process of

selecting a course of action from among several

alternatives. In this study it refers to how the students

will decide in the midst of financial challenges.

Financial. Conceptually, it refers to anything related

to money or how money is managed. In this study it refers to

the expenses, budget, and allowances of the students.

Well-being. Conceptually, it is a state of being

healthy, happy, and prosperous. It encompasses both physical

and mental health, as well as social and emotional well-

being.

In this study it refers to the effects of financial

challenges to the emotional and mental health of the

students.
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Hypotheses

This study hypothesizes that:

1. There is no significant relationship between profile of

the respondents and their financial challenges.

2. There is no significant relationship between profile of

the respondents and their mental and emotional well-

being towards financial challenges.

3. There is no significant relationship between financial

challenges of the respondents and their emotional and

mental well-being.

4. There is no significant relationship between profile of

the respondents and their decision-making towards

financial challenges.

Chapter II

REVIEW OF RELATED LITERATURE

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Profile

Age

It finds that age is a significant factor in acquiring

financial knowledge, suggesting that younger students may

need tailored financial education programs to address

specific needs and development stages (Palomo et al., 2023).

Financial stress can have a profound impact on the

mental health of adolescents. Studies show that students

facing financial difficulties often report higher levels of

anxiety and depression, which can hinder their academic

performance and overall well-being. Age-related factors,

such as peer pressure and social comparisons, can exacerbate

these feelings, making it essential to consider age when

providing support (Ashley Mowreader, 2022).

Mature students face unique financial barriers often

prioritizing immediate living cost over long term

educational investments which can exacerbate the financial

challenges (Abid et al., 2023)

Financial difficulties are linked to for mental health

outcomes with younger students reporting higher rates of

anxiety and depression compared to their older peers (Boe et

al., 2021)
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Age also influences financial literacy with younger

students often lacking the knowledge necessary to make

informed financial decisions leading to increase

indebtedness ( Bobeba, 2023)

Gender

Studies have shown that financial literacy levels can

vary significantly between genders. For instance, a 2021

study in the International Journal of Innovative Research in

Engineering & Multidisciplinary Physical Sciences found that

male college students generally possess higher levels of

financial literacy compared to their female counterparts.

This disparity can lead to differences in how each gender

approaches financial decision-making and problem-solving.

Gender roles and socialization affect financial

attitudes and behaviors. A 2020 study in Humanities and

Social Sciences Letters highlights that gender significantly

moderates the relationship between financial literacy and

financial behavior among students. This suggests that

societal expectations and upbringing can shape how male and

female students perceive and manage financial challenges

(Emre Can Kahraman, 2020)

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An interesting finding was a gender effect. The results

show women to have lower level of financial well-being than

men (Joonas Hirvonen, 2018).

Studies show that women have less access to financial

education which is vital for informed decision making and

economic independence (Santos et al., 2023)

Financial literacy initiatives tailored for women's

needs are essential for overcoming these barriers and

enhancing their financial capabilities (Ojo, 2024)

Gender differences and attitudes toward money revealed

that men often view it as a symbol of success, while women

may associate with the anxiety and security, impacting their

financial behaviors (Sesini et al., 2023)

Household Income

Individuals from lower household income backgrounds

often exhibit lower levels of financial literacy, which

significantly impacts their ability to manage finances

effectively. Studies show that financial knowledge is a

crucial predictor of financial management behavior, with

those possessing higher financial literacy making more

informed financial decisions (Damayanti et al., 2020)

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Conversely, individuals with lower household income

status tend to make poor financial choices, such as

overspending and failing to save, due to a lack of financial

education and resources (Munisamy et al., 2022)

Financial instability including poverty and

unemployment significantly correlates with increase anxiety

and depression among students which adversely affects their

academic performance (Samejo et al., 2024)

Household financial vulnerability, characterized by

short-term liquidity issues and long term solvency concerns,

can lead to financial stress that hampers students ability

to focus on their studies (Biju et al., 2024)

The dynamic of financial strain, such as rising living

cost, further exacerbate the challenges, making it difficult

for students from low income families to succeed

academically (French, 2022)

Financial Challenges

The absence of structured financial education in high

schools exacerbates these issues, as students often graduate

without the knowledge needed to manage finances, such as

budgeting, saving, and understanding credit (Samantha Rose,

2024)
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Financial challenges significantly impact students

educational experiences and mental health research indicates

that financial instability leads to increase anxiety,

depression, and stress, which adversely affect academic

performance and cognitive functions ( Samejo et al., 2024)

Moreover students facing financial hardships often

struggle with access to educational resources, resulting in

educational inequality ( Perdana et al., 2024)

Financial difficulties are linked to worsening mental

health outcomes, including depression and anxiety,

particularly among students who considered abandoning their

studies due to financial constraints (Richardson et al.,

2017)

Social work students for instance face unique financial

demotional challenges due to unpaid placements, highlighting

the intersection of financial stress and educational demands

(Cox et al., 2022)

Well-being

Students, especially first-generation students, face

numerous challenges that may impact their subjective

perceptions of their well-being (Pretorius et al., 2020).

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Financial well-being is a multifaceted concept that

encompasses various aspects of an individual's financial

life, including their ability to manage their finances

effectively, feel secure about their financial future, and

make informed financial decisions. (Kaur et al. 2021)

While financial well-being is crucial for all

individuals, it is particularly important for senior high

school students as they transition into adulthood and face

increasingly complex financial decisions. (J Financ Serv

Mark, 2022).

According to Dr. K Riyazahmed (2021) Financial behavior

and financial well-being are two closely related aspects of

an individual’s financial decision-making.

The implications of financial stress extend beyond

immediate academic outcomes. Prolonged financial strain can

lead to psychological issues such as anxiety and depression,

which further impair academic performance and overall

student well-being (Adams et al., 2016)

Decision-making

The lack of financial literacy among Grade 12 students

is a significant contributing factor to their financial

challenges. A study on the financial literacy of 12th-grade

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science high school students in the Philippines explored the

students' knowledge and confidence in managing financial

matters (Galdonez et al., 2023)

Individuals who are financially literate can make

informed decisions about investing, understanding the risks

and benefits associated with various financial products.

This knowledge enables them to grow their wealth over time

and prepare for retirement

(James Brosnan, 2024).

Financially literate individuals are better equipped to

make sound financial decisions, which can lead to greater

financial stability and independence. They are less likely

to fall victim to financial scams and more capable of

navigating complex financial landscapes, such as mortgages

and investment opportunities (Lusardi et al., 2023)

Financial decision-making is often affected by biases

and heuristics, which can lead to suboptimal choices among

students ( Park, 2022)

A case study in Poland indicated that many students

even those in financial fields lack adequate financial

literacy, which is essential for effective decision making (

Palimaka, 2020)
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Chapter III

METHODOLOGY
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Locale of the Study

This study will be conducted in Catarman National High

School Senior High School, Catarman, Northern Samar. It is a

government institution which operates through HB #418

Catarman National High School acquired its own school site

with an area of 2.8 hectares, situated close to the

Tamburusan Beach. It could road, West: Tara Subdivision, and

East: Provincial Capitol. It is located at Rizal Extensions,

Purok 1, Brgy. Dalakit Northern Samar.

Senior High School student in Catarman National High

School has a total population of 1,845 enrollees for the

school year 2024 to 2025. It follows K to 12 curricula.

Junior High School offers specialization and program such as

the Science Technology and Engineering (STE), a Special

Program in the Arts (SPA), Special Program in the Sports

(SPS), Basic Education Curriculum (BCE), and Special

Education Curriculum (SPED). Meanwhile, Senior High School

Department offers two (2) Tracks: Academic and Technical

Vocational and Livelihood. Under Academic Track, it offers

four (4) strands namely: Science Technology and Engineering

Mathematics

(STEM), Humanities and Social Science (HUMSS), General

Academic (GA) and, Accounting and Business Management (ABM).

 27

Senior High School Students were chosen as respondents as

they were expected to have a experience in financial

challenges.
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Figure 2. Map of Brgy. Dalakit Highlighting the location of

Catarman National High School.

Research Design

This research will used a descriptive-correlational qu

design. This means that the study aimes to describe and

quantify a phenomenon, and to explore the relationships

between variables. The researchers used a systematic and

objective approach to gather data, and analyzed the data to

understand the respondents' profiles, their financial

challenges, well-being and decision-making. The study also

investigated the relationship between different variables.

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Variables of the study

The Variables of this study are classified as dependent

and independent showing its significant relationship.

The Independent variables of this study are the profile

in terms of age,sex,income and grade and the financial

challenges of the students.

The dependent variables of the study is the well-being

and decision-making of Senior High School students in

Catarman National High School.

Population and Sampling

The researchers used random sampling technique to

determine the number of respondents needed in this study.

Slovin Formula was used to determine the total number of

samples for every section and every strand in Grade 12.

Having total of 837 in all strand of Grade 12 were the

respondents of the study.

The Respondents
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The Senior High School students of Catarman National

High School are the selected respondents of this study.The

respondent of this study as all Grade 12 students in all

strand namely; Emerald, Diamond, Onyx, Carnelian, Sardonyx,

Pearl, Sapphire, Aquamarine, Beryl, Jade, Chalcedony,

Citrine, Ruby, Alexandrite, Amber, Obsidian, Topaz, Quartz,

and Zircon.

Research Instrument

The research instrument utilized in this study is

survey questionnaire. The questionnaire is divided into four

(4) parts: 1) Profile of the students, 2) Financial

Challenges, 3) Mental and Emotional Well-Being, and 4)

Decision-making.

The first part is the profile of the respondents in

terms of Age, Gender, Household Income.

The second part is the Financial Challenges faced by

the respondents . There are 10 survey items to determine the

students’ financial challenges.

The third part is the Mental and Emotional well-being

of the respondents and is created by the researcher. It has

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10 questions that survey students’ Mental and Emotional

Well-being.

The last part is the Decision-making of the

respondents. It has 10 questions that survey students’

Decision-making.

Scoring and Interpretation of Data

The age will be categorized based on actual data. The

gender was divided into male and female. The household

income is divided into seven (7) category. Above Php 30,000

is interpreted as high income. Php 10,000 - Php 20,000

monthly income is interpreted as middle income. And below

Php 10,000 household income is interpreted as low income.

The data will be scored and interpreted using the

following classification as the basic for further analysis

as well as for determining the respondent’s financial

challenges, well-being and decision-making.

The items in part II will be rated on a 5-point Likert

scale, represented in the table bellow along with their

interpretation.
 32

Score Adjectival Description

5 Always

4 Often

3 Sometimes

2 Rarely

1 Never

The items in part III will be rated on a 5-point Likert

scale, represented in the table bellow along with their

interpretation.

Score Adjectival Description

5 Stongly Agree

4 Agree

3 Nuetral

2 Disagree

1 Strongly Disagree

The items in part IV will be rated on a 5-point Likert

scale, represented in the table bellow along with their

interpretation.
 33

Score Adjectival Description

5 Stongly Agree

4 Agree

3 Nuetral

2 Disagree

1 Strongly Disagree

The effect of financial towards the respondents was

measured below:

Scale Interpretation

4.20-5.00 Always

3.40-4.19 Often

2.30-3.39 Sometimes

1.80-2.59 Rarely

1.00-1.79 Never

The effects of Financial Challenges to the well-being of the

respondents was measured below:

Scale Interpretation

4.20-5.00 Strongly Agree

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3.40-4.19 Agree

2.30-3.39 Neutral

1.80-2.59 Disagree

1.00-1.79 Strongly Disagree

The effects of Financial Challenges to the Decision-

making of the respondents was measured below:

Scale Interpretation

4.20-5.00 Strongly Agree

3.40-4.19 Agree

2.30-3.39 Neutral

1.80-2.59 Disagree

1.00-1.79 Strongly Disagree

Validation of Research Instrument

The research instrument of this study is a research

made survey questionaire. The instrument will be submitted

to the research adviser for corrections and revisions. The

revised instrument will undergo content validation. The

validators include Research experts. These experts may come

from the Catarman National High School, and this

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questionnaires will be submitted for validation to

Accountancy, Business, and Management teachers and

Humanities and Social Sciences teachers. Their feedback,

including comments, suggestions, corrections, and additional

input, will be incorporated into the final version of the

instrument used for data collection.

Data Gathering Procedure

The Researchers will use a survey questionnaire to

collect data from the respondents.First, the researcher will

aske permission from the Senior High School Grade level

Coordinator and Senior High School advisers for proper

notification and the nature of the study. The researcher

asked consent from the students through letter, asking for

their outmost cooperation as well as securing their privacy.

Upon approval for conducting the research, the researcher

distributed the questionnaire during the free time of the

students. When the respondents finished answering the

questionnaire , the researchers gathered it immediately. The

data collected was analyzed and interpreted by the

researchers.
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Statistical Treatment of Data

The researchers will analyze the results using

statistical tools, Statistical Package for the Social

Sciences (SPSS) software. Frequency distribution and

percentage will be used to describe the respondents'

characteristics, while the mean will be used to determine

the well-being and decision-making towards financial

challenges of the respondents. Lastly, Pearson’s R will be

used to know the relationship between the variables.

37