ANGELES CITY NATIONAL HIGH SCHOOL

SENIOR HIGH SCHOOL

Experiences of Senior High School Students in Financial Difficulties

In Partial Fulfillment of the requirements

for the Academic Track
Accountancy, Business and Management Strand Strand

Alejandro, Jhon Renz Mark G.

Camagong, Francis Ponce P.

Saldua, Shawn Michael B.

Figueroa, Allysa Kim H.

Lopez, Shiela Nicole R.

Centeno, Maureen M.

Lansang, Marielle P.

Dizon, Archivald C.

Pakig, Loraine O.

June 19, 2023

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Table of Contents

Introduction 1-9
General Background ……………………………………….. 1-2
Information
Scope of the Study ……………………………………….. 2
Limitations and ……………………………………….. 2-3
Delimitations
Significance of the ……………………………………….. 3
Study
Research Problem ……………………..…………………. 4
Research Questions ……………………..…………………. 4
Review of Related ……………………..…………………. 4-9
Literature
Synthesis ……………………...………………… 9
Methodology 9-13
Research Approach and ……………………….……………….. 9-10
Type
Respondents/ ……………………………………….. 10
Participants
Sampling Techniqeus ……………………………………….. 11
Research Locale ……………………………………….. 11
Research Procedures ……………………………………….. 11-12
Conceptual Framework ……………………………………….. 12
Data CollectionMethod ……………………………………….. 12-13
Data Analysis ……………………………………….. 13
Results and Discussion 13-16
Theme 1 ……………………………………….. 13-14
Theme 2 ……………………………………….. 14
Theme 3 ……………………………………….. 14-15
Conclusion ……………………………………….. 15
Recommendation ……………………………………….. 15-16

References ……………………………………… 16-18

Appendices ………………………………………
Appendix A
(Thematic Matrix)
Appendix B
(Interview
Questionnaire)
Appendix C
(Profile of the
Researchers)
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INTRODUCTION

General Background Information

According to Daud et al. (2018), students in other countries face the

same problem of high educational costs. As higher education costs in public
and private educational institutions rise. Students in higher education require
more money to cover the cost of study and living in universities. Students
may face financial difficulties in their daily lives as a result of limited financial
resources and rising educational costs. Even students who attend a public or
state institution and pay lower or no tuition must pay money to cover study
costs such as photocopying books, printing outputs, purchasing school
materials, providing snacks and meals, and a variety of other charges.

As students enter higher education, their living expenses rise too.

Private school tuition fees are rising, which means that the cost of studying
also increases. Public educational institutions are far from private schools;
they charge students a smaller amount of money or no tuition fees at all.
However, being in a public school does not mean everything is free. Students
in public schools still face financial difficulties, preventing them from meeting
or paying their financial obligations in school.

Based on the research of Reyes et al. (2015), almost 20% of Filipino

students who dropped out of school (Philippine Statistics Authority, 2015)
cited lack of financial resources as the main reason for quitting school,
particularly for students who do not receive enough financial support from
their families. Financial stress and difficulties are not uncommon among
Filipino students, and government figures indicate that a significant
proportion of the school-age population faces financial challenges. The age
group most likely to drop out of school was 17-year-olds, particularly those
students who are from the lowest-income families and do not have enough
financial resources due to poverty. One recent study did not actually measure
financial stress but showed that a sense of poverty was one of the primary
reasons students stopped attending school.

Financial difficulties are a problem for Filipino students, leading young

children to quit school. The majority of the students came from low-income
families, which means that their yearly incomes did not exceed 80% of the
average income in the region. Filipino students who drop out of school do not
have enough money to cover the cost of education.

According to Parafina et al. (2018), since the beginning of these

platforms, financial and educational scholars have discussed and debated
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financial issues. As time goes on, students are becoming more and more
involved in personal financial issues that have an impact on their education.
Some students have been talking to their parents, teachers, and education
researchers about the financial issue. The ratio is significantly higher for
several subgroups of the population, with more than one in five children living
in financial difficulty. Among the 35 "richest" nations in the world, the
Philippines comes last in terms of children's financial well-being. The goal of
this report is to present an overview of poverty in the Philippines, with a
special focus on the effects of poverty on children's educational attainment
and the government's efforts to mitigate those effects.

Studies show that financial challenges exist for students, especially

those who do not have enough resources to meet their needs in school.
Filipino students are involved in financial issues, which is not good for their
financial well-being. Financial and educational scholars have already
discussed this issue and found out that students were seeking advice.

Scope of the Study

According to Fernando (2023), understanding and being proficient in

the use of different financial skills, such as investing, budgeting, and personal
financial management, is known as financial literacy. Being financially
educated gives you the groundwork for a relationship with money that is a
lifetime learning process. The earlier you begin, the better off you will be as
education is the secret to financial success.

Financial literacy is a skill on how people make a smart decision on

their money. Being financial literate from a young age can really be the
source of how you will manage the money wisely. The lack of financial
literacy can lead to unsustainable debt.

Limitations and Delimitations

Limitations
This study has a lot of shortcomings that need to be mentioned. First,
the research presented here was limited by time. Second, the study had a
limited access to information because some articles requires money to be
open. Third, our study had conflict over biased views and personal issues.
Fourth, the researchers struggled in looking for students who are
experiencing financial difficulties. In reality, researchers end up choosing only
those results and data that can support their main argument, which are trying
to avoid by the researchers in order for them to be objective.
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Delimitations
The research is all about the financial struggles faced by the students in
senior high school and what the reasons are behind this, knowing that
students have financial support. Therefore, the respondents will be senior
high school students who are experiencing financial challenges. This study
will no longer include students who are struggling academically due to
financial difficulties. We will also not include studies about students who are
mentally affected due to their financial instability.

Significance of the Study

This study aimed to provide information about the experiences of senior high
students in financial difficulties.

The result of the study will give advantage to the following:

For the students, the study will give them knowledge about financial
difficulties they are dealing with. It will also serve as their voice that many
students are struggling financially.

For the parents and guardians, this study will give them understanding
about the financial difficulties of their children. This will also help them to seek
financial support and advice for the financial fees of their children.

For the teachers, the study will help them recognize that many of their
students are struggling financially and not in the same financial status.

For the school administrators, the study will help them understand the
financial difficulties of their students in their campus and give them
consideration about school fees and needs.

For the financial counselors, the study will help them recognize that
many students are struggling financially. It will also give them the idea to
advocate for a campaign that can help students and parents who are
struggling financially.

For the future researchers, they can use the study as their basis for
their research and help them carry on the experiences of students in financial
difficulties.

Overall, the study will surely give you knowledge about financial
difficulties that are being faced by students.
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Research Problem

According to Cayetano et al. (2019), every student deals with a variety

of issues throughout their lives. One of these issues is money-related. When
money worries are putting pressure on you, you are experiencing financial
problems. Financial difficulties can affect anyone at any time, but they are
especially common during recessions. People might not have enough money
to cover their expenses because they lost their jobs or just do not make
enough money.

The study's overall goal was to discover why Filipino students continue
to face financial difficulties despite having financial support. It aimed to
explore the factors contributing to this issue, understand the unique
challenges faced by Filipino students, and identify potential solutions to
alleviate their financial burdens.The study might have investigated several
factors that contribute to financial difficulties among Filipino students such as
the cost of education, accessibility of support programs, and financial literacy.

Research Questions

This study aims to investigate the financial difficulties of students. The

following research questions will help us obtain new knowledge and
information. The said research questions are:

How to overcome the financial difficulties being experienced by the students?

What are the financial struggles faced by the students?

How do financial difficulties affect students decision to continue education?

Review of Related Literature

According to Zamora et. al. (2022), the two most frequent financial
issues students had to deal with throughout their moderately difficult school
years were finding a part-time job to supplement their parentally funded
school allowance and being unable to purchase internet data or wifi. The
components of financial challenges, as described under Financial
Challenges, are known to be presented by students with a moderate degree
of difficulty while also giving them some practice. Part-time employment and
avoiding purchases that could harm their finances are skills that students
have mastered.
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According to Polinar et al. (2023), anyone who wants to raise their
standard of living, alleviate poverty, and have an advantage over others in
the job and profession market needs to go to school. However, students face
a variety of challenges along the way. Thus, the financial difficulties faced by
students in grade 11 and their solutions are examined in this qualitative
study. Focus group discussions (FGDs) were used to conduct interviews with
the twelve (12) informants who were eligible to take part in the study. Three
themes emerged when Colaizzi's method was applied, and they are: (1)
Inadequate daily allowance; (2) Dependence on one income; and (3)
Prioritization of Wants over Needs. The majority of those surveyed admitted
that their average daily budget is only fifty pesos, with nearly half of that
amount going toward transportation costs, which forces them to forgo buying
food for their snacks. Additionally, some of the informants have siblings who
are also enrolled in school, necessitating them to take on side jobs to
supplement their income. As a result, relying on one source of income is
seen as a financial challenge. Another interesting response from the
informants is that they put their wants before their needs. They contend that
in order to make sound financial decisions, they must alter their perspective
and prioritize their needs over their wants. The researchers came to the
conclusion that teachers should take an interest in having meaningful
conversations with their students and asking them a variety of questions
about their daily lives.

According to Doniego (2021), the world now recognizes financial

literacy also a critical component for the growth and stability of the economy
and the financial system. Trends back up the growing awareness of the
importance of financial literacy as a life skill worldwide. At the moment,
students account for a significant portion of the total consumer spending in
the country. An improvement in the resources available and a decrease in
financial issues during schooling are both results of sound financial
management. With the development of online shopping due to technology,
youths are dealing with an increase in issues of money-related carelessness.

According to Abichuela (2020), the ability to respond, have in-depth

knowledge, skill, attitude, and behavior related to money, credit, and banking
required to make excellent financial decisions is known as financial literacy.
To achieve significant financial inclusion and boost economic development,
financial literacy promotion is essential. Because many college students need
this as a significant factor in their saving, credit, and investment decisions
and because they will enter the workforce after graduation, college students
are the ideal audience for financial literacy programs. They will be
responsible for overseeing the management of their pay, retirement
accounts, and investment options. Making decisions that could affect their
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financial well being now will prepare them for later, more responsible financial
choices as they develop into financially literate, self-sufficient adults. While
earlier research has provided evidence of people's knowledge of personal
finance and advanced our understanding of the problem, many studies only
focus on a few aspects of personal finance while ignoring others. Many
earlier studies only reported the levels of financial literacy without analyzing
the significance that influences people's knowledge, which exacerbates these
limitations. Prior research hasn't looked at college students' financial literacy,
particularly in Catanduanes. This critical area is the gap that the present
study filled.

According to Pagaduan (2020), for many Filipinos, having good

financial knowledge is an ongoing difficulty. In a study on financial literacy,
the Philippines ranked in second last among ASEAN nations. The purpose of
this study is to examine the impact of financial literacy on students' attitudes
and money management behaviors. It involved eighty-three (83) participants
from Baliuag University's College of Business Administration and
Accountancy (CBAA). They completed a self-report questionnaire to assess
their attitudes and habits towards managing their personal finances as well
as their knowledge and familiarity with financial topics. Two different simple
linear regressions employing financial behaviors under two categories—
financial attitudes and financial practices—were conducted to test the
hypotheses that financial literacy does not significantly influence any of these
behaviors and the use of financial practices as requirements factors. On
measures of financial literacy, financial views, and financial habits, the
study's findings point to moderate levels. Financial understanding was
discovered to have a considerable effect on financial attitudes. Attitudes
about handling one's finances are significantly influenced by financial
knowledge.

According to Polinar & Delantar (2022), the study examined the various
significant financial issues that business administration students at one of the
state colleges in Dumaguete City faced. Their current financial practices were
also looked at in relation to this goal. The study used a convenience
sampling technique and a quantitative research approach based on
Cochran's approach to collect data from 308 respondents. A self-
administered survey was utilized. Additionally, the creation of the instrument
was influenced by a number of published research articles. A weighted mean
and ranking were used to evaluate the data. The results showed that getting
a part-time job to supplement their parentally funded school allowance and
not being able to buy internet data to attend online classes were the two most
prevalent financial issues students had to deal with during their moderately
difficult college years. Saving as much money as possible is one of the
students' most important financial habits, which is notably regarded as highly
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practiced in the study. The elements of financial challenges that are known to
exist presented business administration students with a moderate challenge
while also providing them with some practice, as explained under Financial
Challenges. Students are good at working part-time jobs, saving money, and
avoiding purchases that could put their finances at risk. The study also
recommended that the school administration develop and implement a
thorough financial education, improve students' financial quotient by
incorporating financial courses into program curricula, and regularly hold a
series of seminars and workshops on the topic. The effectiveness of the
program may also be assessed by conducting pre- and mid-program
surveys.

According to Miningou et al. (2014), students’ financial difficulties can

be considered as one of the most important barriers in postsecondary
education. Researchers from various domains have attempted to understand
the relationship between students’ financial difficulties and persistence in
postsecondary education. In this paper, we propose an analysis of the
literature concerning students’ financial barriers and persistence in
postsecondary education, mainly in the USA and in Canada. We find that
students’ financial difficulties can affect postsecondary persistence through
three channels: financial aid imperfections, working while in school and
parents’ revenue. These three dimensions of financial difficulties can also
affect achievement in postsecondary education.

According to Daud et al. (2018), financially educated society tend to

make better financial decisions. Nevertheless, individuals are seldom having
a perfect financial knowledge. Behavioral economics admitted that individuals
are not always rational and emotions can always affect decision making.
Thus objectives of this paper are to investigate the financial problems among
the students as well as their financial management practices. This is because
the ability to manage personal finances has become increasingly important in
both university and college in preparing their students with good financial
management. Data for this study was collected through a self-administered
questionnaire and distributed through purposive judgmental sampling
method. A total of 369 questionnaires were completed and been analyzed
using SPSS. The finding from the study shows that the financial problem
occurs due to the inability of students to increase income. As a student, they
need to spend more time for their study instead of finding a way to increase
income. The students were found have good financial management practice
because they are avoiding overspending of their money. The result
contributes to the university and particularly the academia to know the
students’ financial management practice and financial problem to educate
them in making a wise financial decision in future.
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According to Elgeka & Ma (2020), financial issues frequently arise in
the lives of college students. Lack of knowledge about money management
may lead to issues, such as giving in to the urge to purchase unnecessary
discounted items or using choice justification. The purpose of the study is to
comprehend how justification for choices and purchasing items at a discount
are affected by mental budgeting. Two experiments were conducted in the
study (N=169 in Indonesia and N=168 in China) to describe the reaction of
discount, and two others to describe choice justification. The experiments
were examined using the Mann-Whitney U and the ANOVA tests. Scales for
mental budgeting were also used in experiments 3 and 4. The findings
demonstrate that people will succumb to temptation to purchase luxury goods
when they are presented with a discounted offer. They do this because they
don't want to miss the chance to buy such goods for a low cost. Additionally,
people will exercise choice justification when they are presented with offers
that relate to their physiological needs (such as food). This implies that
everyone must comprehend the idea of mental budgeting and create
accurate budgets.

According to Khalisharani et al. (2022), children who are away from

their parents while attending college face new difficulties in managing their
finances and getting ready to be financially independent. In this study, the
financial behaviors of university students in Indonesia and Malaysia were
analyzed and compared in relation to parental financial socialization and
financial literacy. 204 students from the IPB University Faculty of Human
Ecology and Universiti Putra Malaysia took part in the study overall. A self-
reporting questionnaire and the convenience sampling method were used to
collect the data. The data were analyzed using multiple regression and the
independent sample t-test. The t-test results revealed that Malaysian
students outperformed Indonesian students in terms of parental financial
socialization and financial behavior but not in terms of financial literacy.
Additionally, the regression analyses showed that parental financial
socialization and students' financial literacy had a significant impact on the
financial behavior of the sampled students. However, by dividing the sample
based on the country of origin of the student, this study showed that financial
behavior among Malaysian students was only significantly influenced by
parental financial socialization, while financial behavior among Indonesian
students was only significantly influenced by financial literacy. These results
suggested that parents in Malaysia were more actively involved in influencing
their children's financial decisions or behavior. Indonesian students, on the
other hand, were less dependent on their parents and their financial behavior
was primarily influenced by their level of financial literacy.

According to Baglow & Gair (2019), it is well known that enrolling in

higher education entails a financial burden. A sample of 2320 current
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students who participated in an online national survey in 2015 described their
experiences balancing life, study, and work. In this study, students reported
frequently going without necessities and acknowledged that a lack of funds
and long work hours were negatively affecting their ability to learn. Recognize
that it may become harder and harder to prevent negative outcomes for
these students, such as poverty, financial hardship, a lack of time, and
disruption to their studies.

Synthesis

The research is all about the experiences of senior high school

students in financial difficulties. The study’s overall goal was to know and
understand the financial challenges faced by senior high school students.
Studies show that students who are experiencing financial difficulties are
from low-income families with a monthly income of $12,000 or less. It was
observed that as students pursue higher education, the cost of living
expenses increases, which leads them to stop attending school and instead
get a job to provide for their needs because they only see that pursuing
higher education will only cost them money and debt. Other research found
that students lack knowledge regarding managing their money which leads
them to buy unnecessary things. Most of the students still rely on their
parents financially and discontinue education when their parents cannot give
them the support they need. It was stated that students lose interest in
continuing their education because of the financial difficulties they are facing.
Studies aimed to spread awareness and give suggestions on how to handle
financial challenges.

METHODOLOGY

Research Approach and Type

In accordance with Sreekumar (2023), the process of gathering,

examining, and interpreting non-numerical data is known as qualitative
research. The results of qualitative research are expressed and support
understanding people's different views regarding a specific situation,
condition, or topic. This kind of exploratory research uses data to produce
ideas or theories. The most common formats for qualitative data include text,
audio recordings, videos, and visual images.

A qualitative research approach was used in the study. A better

understanding of people's perspectives on a given situation or topic can be
supported by qualitative research, which is often expressed in words rather
than numbers. It is a technique to collect information meant to help
researchers understand all aspects of human experience and behaviors. It
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involves collecting and analyzing non-numerical data. including text, audio
recordings, videos, and visual pictures, in order to spot trends. themes, and
discoveries. This kind of study is often used to explore deep social
phenomena that are difficult to observe as well as create new ideas or
theories. It is the appropriate research approach for the study.

Based on the research of Good (2023), phenomenology is a form of

qualitative research since it calls for a complete understanding of the
audience's opinions and perspectives on the phenomena you're researching.
Unlike quantitative research, it is more deep than wide. Your analysis and
interpretation will determine where to find the phenomenon's lived
experience.

A phenomenology research type was used to collect experiences in the

study. The study aimed to provide the experiences of senior high school
students in financial difficulties, which is why it is appropriate to use
phenomenology. It seeks to describe the nature of things by using how
humans experience them Obtaining an understanding of the thoughts and
emotions of a certain audience in relation to the topic being studied is the
main objective of phenomenological research. Since phenomenology focuses
on audience experiences, its reliability depends only on how well the
audience can communicate their thoughts and feelings. Every experience
they shared will be heard by everyone.

Respondents/Participants

According to Cogal et. al (2019), The introduction of senior high school

sought to provide students with fundamental information and abilities that will
improve their readiness for the career route they have selected, whether it be
higher education, work, or entrepreneurship. The addition of Grades 11 and
12, or two additional years or grade levels, will better prepare the students
with the skills, knowledge, and values required for a successful future in their
fields or course.

Senior high school students who have been having financial problems
are the participants that were selected.This age group represents a crucial
stage in a student's educational journey, where they are transitioning from
adolescence to young adulthood. During this period, they encounter various
challenges related to their education, personal development, and future
aspirations. By focusing on senior high school students, researchers can gain
valuable insights into the specific financial difficulties they encounter and how
these challenges impact their overall well-being and academic
performance.These students may face difficulties in affording essential
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educational resources such as textbooks, stationery, or even technology
required for online learning

Sampling Techniqeus
As specified by Kassiani (2022), a collection of non-probability sampling
strategies known as "purposive sampling" involves choosing units for your
sample based on their possession of specific qualities. In other words, in
purposive sampling, units are chosen "on purpose". This sampling technique,
also known as judgmental sampling, focuses on the researcher's judgment
when determining and choosing the people, cases, or events that can supply
the most information to meet the study's goals. In qualitative and mixed-
methods research, purposeful sampling is typical. It is very helpful if you
need to find examples with plenty of information or make the most of limited
resources, but it is highly susceptible to research biases like observer bias.

The researchers study focuses mainly on the financial difficulties

experienced by senior high school students. The researcher's study used
purposeful sampling since the researchers' respondents have the same
characteristics when it comes to their finances. The researcher's respondents
experience the same financial difficulties: therefore, purposive sampling
should be used.

Research Locale
The research was conducted at Angeles City National High School -
Senior High School, which was the main site chosen for the study. This
school provided an excellent environment for collecting and analyzing data
due to its diverse and varied characteristics The researchers were able to
engage with the students, allowing them to obtain valuable information and
data relevant to their specific research goals.

Research Procedures
This study follows the steps below:

Step 1-Chose a research topic

Step 2- Looked for existing Review of Related Literature

Step 3: Generated a title that fits the research topic

Step 4- Found three RRL's that are still applicable to our research
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Step 5-Explained the three RRL's

Step 6-Presented the research problem to the professor

Step 7-Started the introductory part

Step 8-Generated interview questions

Step 9- Interviewed senior high school students from different schools

Step 10-Started doing the methodology

Conceptual Framework

INPUT PROCESS OUTPUT IMPACT

Financial - Interview Identify causes - Awareness

problems faced of financial
by the senior - Voice record difficulties faced - Financial
high school by the students literacy
students - Video
despite of - benefits
having financial managing
support financial
difficulties

Data Collection Method

According to George (2022), an interview is a qualitative research

method that relies on asking questions in order to collect data. Interviews
involve two or more people. The use of interviews as a data collection
method is a common practice in various research disciplines. The
researchers use interviews as a data collection method and typically conduct
one-on-one interviews with students who are experiencing financial
difficulties. An interview conducted for the purpose of gathering information or
conducting research.This type of instrument will be used to assess the
respondent's knowledge, experience, skills, experiences, opinions, or
suitability for financial difficulties.
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Interviews are the most common type of qualitative research approach.
Interviews mostly require two members the one who will interview the
participant and the one who will record or take video for documentation. The
researchers chose interviews to be the research type because the students
who have financial difficulties are the target respondents Interviews are best
suited for collecting data from experience because. unlike surveys, which
only have options to choose from, they are not too applicable to collecting
data from experience because many people have different experiences that
could lead to a lack of options when we use surveys Interviewing people
means that the answer is from the respondents, so there will not be any
barriers when it comes to the respondents stating their experiences.

Data Analysis

As stated by Villegas (2022), thematic analysis is a method of analyzing

qualitative data by reading through a dataset and looking for patterns in the
meaning of the data to find themes. It is an active process of reflexivity that
focuses on the subjective experience of researchers to make sense of the
data. Because thematic analysis does not require the detailed theoretical and
technological knowledge of other qualitative approaches, it offers a more
accessible way of analyzing, especially for those at the beginning of their
research careers.

As thematic analysis is the most common form of data analysis in a

qualitative approach to research, the researchers decided to summarize the
collected data using thematic analysis. Thematic analysis is often seen in
students who are just starting to conduct research. As the researchers are
still in the 11th grade, this method suits them best. The researchers just need
to find patterns, codes, and themes to easily summarize the collected data
Financial difficulties of students being the researchers' topic, finding themes
and patterns is the best way to check if the respondents' have the same
situations of having financial difficulties as students.

RESULTS AND DISCUSSION

Research Question 1 (How to overcome the financial difficulties being

experienced by the students?)
THEME 1: The participants are saving money, but seeks help from their
parents if needed, and sometimes borrow money to pay for unexpected
expenses.

In a study conducted, it was found that a significant number of

participants faced financial difficulties and sought assistance from their
relatives to cope with these challenges. The majority of participants resorted
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to borrowing money to cover their expenses, indicating a reliance on external
sources for financial support. On the other hand, a positive trend was
observed among most participants who were actively engaged in saving
money, demonstrating a proactive approach towards building financial
security. These findings highlight the complex nature of individuals' financial
situations, where familial support, borrowing, and personal savings all play
crucial roles in navigating and managing financial hardships.

According to Moneva, et al. (2020), when students are satisfied and

content with the financial assistance their parents provide, they are said to be
in a condition of financial satisfaction.The capability to continue studying
despite knowing it will be challenging is known as persistence among
students.

Research Question 2 (What are the financial struggles faced by the

students?)
THEME 2: The participants are having financial difficulties, and there are no
resources or programs that are available to help them.

The given statements highlighted a common issue faced by the majority

of participants, namely, a lack of money and financial difficulties. Being a
senior high school student with several educational fees is quite challenging
to manage. We might consider requesting assistance from the government,
but unfortunately, there are no available resources or programs to provide
them with the necessary assistance in managing their financial situation as
well as considering the size of the population, not everyone receives financial
assistance from the government. The Pantawid Pamilyang Pilipino Program
(4Ps) is a flagship poverty reduction and social development program in the
Philippines. It is implemented by the Department of Social Welfare and
Development (DSWD) and aims to provide conditional cash transfers to
eligible households to alleviate poverty and promote human capital
development.

According to Abuan (2022), There is no application process to become

a member of the 4Ps. If there is no application, how are beneficiaries
selected? (RA 11310, Section 5 and 6), a household should be identified as
poor based on the assessment conducted by the National Household
Targeting Unit (NHTU), also known as the "Listahanan." The participants may
have indicated there are no programs that could help them because they are
not qualified in this program.

Research Question 3 (How does financial difficulties affect students decision

to continue education?)
 15

ANGELES CITY NATIONAL HIGH SCHOOL

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THEME 3: The participants showed determination to complete their
education despite having financial difficulties.

The students are actively involved in furthering their education, such as

by going to school, college, or a university. Although they may come from
different backgrounds and situations, these people all want to go to school
despite having financial difficulties. Participants who are struggling financially
frequently exhibit great time management and organizing abilities.

According to Dang and Bulus, the role education play in economic

development cannot be overemphasized, hence the need for all hands to be
on deck for proper development of the educational system. Finance has been
identified as one of the major challenge to educational achievement and
development for both individuals and the society at large. This research is
conducted to determine the impact of finance on student's academic
performance/achievement in secondary schools.

Conclusion

Students experiencing financial difficulties is common especially on

public schools. The researchers wanted to conduct a research with this topic
so that, the future students who will encounter this problem, will know how
students can overcome this problem. In this research, we interviewed senior
High school students who are experiencing financial difficulties. Many senior
High school students experience this, but none of the respondents lets
financial difficulties stop them from pursuing their desired future. Even
without the help of any programs, the respondents are determined to
continue studying while experiencing financial difficulties and are ready to do
anything from trying to save to borrowing if the money is greatly needed.

Recommendation

 Students’ will be aware of the financial difficulties they are dealing with
and be able to highlight the need for targeted support and resources.

 Parents and guardians will learn how to budget properly and be

responsible for the child's financial needs to prevent the child from
experiencing financial difficulties as a student.

 Teachers will recognize the students who are struggling financially and
help them understand their situation.

 School administrators can monitor the students who are in financial

need and control the expenses on campus.
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ANGELES CITY NATIONAL HIGH SCHOOL

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 Financial counselor might promote the availability and benefits of

financial counseling services among the target audience. Make sure
students and parents are aware that these services exist and highlight
the positive impact they can have on their financial well-being. Provide
clear information on how to access financial counseling, such as
through school or community channels.

 Future researchers might provide more information about the financial

difficulties of a students being faced and explore more about this
research topic.

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Appendices
Appendix A
(Thematic Matrix)

RQ1: How to overcome the financial difficulties being experienced by the

students?
 20
Interview Informant 1 Informant 2 Informant 3
Question
What ANGELES CITY
Nangyari yunNATIONAL
kasi HIGH
Nung ano po SCHOOL
Nakuha kong
happened nungSENIOR HIGH SCHOOL
nagwowork tumungtong mang
when you ako tas ako din ako ng senior manghingi sa
encountered nagpoprovide sa high school, mga tita at tito
financial sarili ko, pero nagkulang po para lang
challenges minsan may mga sa pera, pero malampasan
and how you time na di ako naano naman yun.
handled it? nakakauha ng po ni mama ko
sapat na income po. -Seek help
para matugunan from relatives
yung mga -Not enough
pangangailangan money
ko tas minsan -Seek parents
nagsastop ako help
tapos dun ako
naghihingi ng
tulong sa mama
ko.

-Working student
-Provides for own
needs
-Not enough
money
-Drop out of school
-Seek parents help
How do you Mostly ang Tulad po sa Yung mga
deal with nalalapitan ko ano sa parcel nasesave kong
unexpected doon is yung na dumarating sa baon ko,
expenses or mama ko, pero tapos wala po ahm yun yung
emergencies kung sakali lang palang ginagamit ko
that require a nakakahiram ako pambayad, para sa mga
large amount sa mga kakila- nanghihiram hindi
of money? malapit na po ako sa kapit inaasahang
kaibigan ko at bahay bayarin.
sigurado naman na
babayaran ko yon. -Borrow money -Uses savings

-Borrow money

What Ahh yung ano Uhm, mag-ipon Yun nga yung

strategies do pagbubudget, dun po. mga tinatabi
you use to ako minsan nag kong ano tira
keep on track *clears throat* -Saving money sa baon ko.
financially? nagdedepende
para sa mga -Saving money
gagastusin ko para
mapagkasya ko.

-Budgeting
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Informant 4 Informant 5 Codes
Oum, siyempre kapag Ano minsan Seeks help from
na-eencounter ko yun, nanghihingi ako ng parents
mahirap, but syempre tulong sa parents ko.
as a student kailangan
kong mag-isip ng way -Seek parents help
para magkaroon ako
ng enough money
para sa mga projects
ko.

-Struggles
-Not enough money
-Provides for own
needs
Siyempre kapag Minsan ano di ko Barrow money
estudyante ka pa lang, muna sya binabayaran
di ka naman ganon parang nag iipon
kalaki pero di man muna ako ng pera
ganon kalaki yung bago ko muna sya
kinikita mo, but siguro bayaran pero hindi
kapag may mga umaabot sa ano sa
emergency ahm schedule
through pautang,
siyempre -Delay payment
mangungutang ka -Uses savings
muna then ganon.

-Borrow money
Hmm, siguro yung ano Yun nga yung mga Saving money
yung financial stability tinatabi kong ano tira
ko yung.. pano ko sa baon ko.
ihandle yung mga pera
ko yung pan.. pano ko -Saving money
kayanin yung pera na
hawak kong yun.

-Budgeting

RQ2: What are the financial struggles faced by the students?

Interview Question Informant 1 Informant 2 Informant 3

Can you describe Ahh paulit ng Ano po TVL Yung ano yung
22
any personal question. ahh po kasi yung mga bayarin sa
experiences of eto yung time strand ko kaya ano pag ano
financial ANGELES
struggles
Informant 4 naCITY
ahh anoNATIONAL
ah
Informant 5 poHIGH
ano uhm SCHOOL kagaya
Codesng
that you have
Ahm nung last time, SENIOR magkakaroon
Yong ano HIGH kapag
nung sa po
SCHOOL
ano basketball
Not enough money
encountered?
siguro yung ano kamiyung
ng isang
sa sa anonagluluto.
sa ship kagaya ng
kakulangan sa pera sa contribution sa
jacket namin sa shop jersey
mga projects ko lalo project na namin
w-wala akong -School
pera pangangailanga
na dun sa entrep na gagawin expenses
nung ano nanghihingi n namin.
namin. ang problema
sila ng pambayad kasi
malaki
nagkasi
ano na kami nun -Expenses in
-Short on money para mas
nag nagsukat na sila sport
-School project maganda
ng ano yung
para sa ship
preparation
jacket tas that time na
namin so akong
wala nag- pera sabi
agree naman
ko na ano di muna ako
ako ang kaso
ako magbabayad
nga kailangan
lang ko munang
medyomag ipon or manghingi
nashoshort
sa parents ko kasi ano
ako ang
wala din akong
ginawa ko is na pera nun
makukuha
sinubukan ko ko kaya
sa parents
na ahh
ayun.
magtipid ng
konti-Demands
para payment
maabot ko
-Short on money
yung-Save
bayarinmoney
na yon
-Seek parents help
Hm…wala, wala pa nakahiram Yong 4ps lang pero di
naman din kung kasali
ko alam
-No resources or ako. talaga ako dun. No available resources
programs or programs
-School
-Notproject
sure if member of
-Needs
4P’sa large
Siyempre kung amount
Yong of ano kasi yong sa Increase in cost but
tumatanda tayo tsaka moneystrand n'a kinuha ko income stays as it is
nagbabago yung -Short
poonngayong senior that makes them short
panahon, yung moneyhigh ay about sa mga on money
pagtaas din ng mga -Save moneysa mga food.
gastusin
presyo tumataas din, -Barrow money
Are therenakakaapekto
so yung any Ahh -Increase
ano Wala po.
in cost Wala man.
resources or
sya sa akin kase ako kasama kami
programs
ahm, minimum that are
lang sa ano sa -No resources -No resources
helping you with
yung kinikita ng mga lately sa 4ps or programs or programs
your financial
magulang ko and then kaso ngayon
difficulties?
ahm, yun nga, If yes, 18 na ko hindi
what
minimum is it?lang kinikita na sya, hindi
ng mga magulang ko na sya ano
tsaka mahirap talaga pwede pero
sya. sabi nila sa
mama ko is
-Increase in cost pwede pa daw
-Low income ako
-Struggles makapasok
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Interview Question Informant 1 Informant 2 Informant 3

What challenges Ah okay so Ah kasi po Mga project na

24
do you, as a nung una samin po na bayarin sa
student, face in medyo babae po school, nag
deciding ANGELES
to CITY NATIONAL
mahirap kamingHIGH
lahat, SCHOOL
papatuloy
continue your syempre lalo
SENIOR HIGH SCHOOL pinagpapatuloy parin kahit
education? If so, na pag dating ko po yung mahirap kasi
how did you sa financial pag-aaral ko gusto ko
RQ3: How
decide to keepdoes financial difficulties
tapos kung sa affect students decision
kasi gusto ko to continue
makapag
going to school dahil malayoeducation? po tapos ng
despite of having rin yung makapagtapos pagaaral.
financial tirahan ko kahit may
challenges? kailangan ko struggles. -School
ng perang projects
pamasahe, -Wants to -Wants to
ang pumi- ang complete complete
pumipi -lit lang eductaion eductaion
sakin para
magpatuloy sa
pag-aaral is
yung goal ko
sa buhay kasi
ang mindset ko
is kung meron
kang pinag-
aralan malayo
yung
mararating mo.

-Transportation
expense
-Wants to
complete
eductaion

Have you ever Missed Wala naman Nung

missed school school? Ah eto po, kasi nakaraan
because of lack of yung time na pumapasok naranasan
money? If so, meron kaming naman po ako kong hindi
when did it occur, ay minsan pag kahit walang pumasok ng
and how did you alam kong pera. dalawang
respond to it? hindi ako beses kaya
makaka medyo -Did not ginawa ko is
may kalayuan missed school nanghingi ako
kasi yung -Go to school ng tulong eh
tirahan ko without money nanghingi ako
malayo sa ng tulong sa
skwela so mga kamag-
ayon kailangan anak ko.
ko ng sapat na
pera sa -Missed school
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Informant 4 Informant 5 Codes
Yung Financial ano Yun nga po yong sa Wants to graduate
ko, Financial Aspect ano sa ngayon
ko med, medyo nawalan din kami ng
mahirap din 'yon. 7K sa shop namin
yong problema namin
-Struggles all through side dun
pero kaming lahat is
wala kaming plano na
magbayad ng class
fund kasi nga
malaking pera yong
nawala samin.

-Lost money
Ah siguro nung last Eh pumapasok ako Attends school without
time kase ahm pauwi ano pumapasok ako money
na nun and then wala sa school kahit kapos
na talaga akong pera ako kasi nga
non and then nagbabaon din ako ng
nanghiram muna ako pera na pang lunch ko
sa kaklase ko. ayun.

-Go to school without -Go to school without

money money
-Borrow money
Ahm siyempre hindi, Hindi hindi. Shows determination
so hinahandle ko sya to graduate
by ah kapag may pera
ako, di ko sya
ginagastos kung saan-
saan, inuuna ko yung
mga needs ko kesa sa
wants.

-No
-Save money
-Seperate wants from
needs
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WARM ANALYSIS
Research RQ1: How to RQ2: What are RQ3: How does
Questions overcome the the financial financial
financial struggles faced difficulties affect
difficulties being by the students
experienced by students? decision to
the students? continue
education?

Seeks help Not enough Wants to

Codes from parents money graduate
Barrow money No available Attends school
resources or without money
programs
Saving money Increase in cost Shows
but income determination
stays as it is to graduate
that makes
them short on
money
Theme The participants The participants The participants
are saving are having showed
money, but financial determination
seeks help from difficulties, and to complete
their parents if there are no their education
needed, and resources or despite having
sometimes programs that financial
borrow money are available to difficulties.
to pay for help them.
unexpected
expenses.

Appedix B
Interview questionnaire:
1. What happened when you encountered financial challenges and how you
handled it?
2. How do you deal with unexpected expenses or emergencies that require a
large amount of money?
3. What strategies do you use to keep on track financially?
4. Can you describe any personal experiences of financial struggles that you
have encountered?
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5. Are there any resources or programs that are helping you with your financial
difficulties? If yes, what is it?
6. How does the increase in living expenses affect your financial stability?
7. What challenges do you, as a student, face in deciding to continue your
education? If so, how did you decide to keep going to school despite of having
financial challenges?
8. Have you ever missed school because of lack of money? If so, when did it
occur, and how did you respond to it?
9. Does having financial difficulties hinder you from continuing your education? If
so, how did you handle it?

Appendix C
(Profile of the Researchers)