Angelina D. Lucero, Prince Edrin C. Dalde, Angel Q. Evangelista, Heziemiah L. Pascual, Kryss Adrey E. Santiago, Arisha Jean I. Siaotong, Karylle Ann B. Valez, Shiyeahna I. Labonete, Orlando H. Locading, Jr., Bench G. Fabros
Abstract:
University students need to master budgeting or the act of allocating money to help them make better financial
decisions in the future. Being aware of the budgeting practices of university students is essential in order to be
enlightened. Thus, allowing rooms for improvement to develop their budgeting skills. This study aims to shed
light on the budgeting practices of the financial management major students in terms of their spending and
saving habits as well as their financial problems and solutions. The sample composed of 104 Financial
Management majors who were in their first, second, or third-year college standing. This undertaking utilized a
quantitative descriptive method as research design. Through an online survey questionnaire, the desired data
was gathered. The researchers were able to derive valuable information from the respondents to fulfill the
research objectives by using frequency, rankings, and mode. Most of the respondents were at the age of 20
years old who are in the third year of Financial Management course in Tarlac Agricultural University. They
receive a monthly allowance amounting to Php 1,001- 2000 (18USD-36USD). Findings revealed that most of the
students can sometimes save money in a piggy bank or wallet; always save money for personal interests; rarely
give their saved money to people that are close to them; and always save money for emergency purposes. In
terms of the students’ spending habits, the students consider the necessity, prices, and benefits of the products
before purchasing, such as basic necessities, for their leisure activities, as well as their miscellaneous
expenses. Additionally, results also showed that the main problems encountered by the students when
budgeting are being indecisive in finance and having a lack of knowledge about the 50/30/20 budget rule. To
solve these problems, students mainly direct their efforts toward becoming smart consumers. This information
gathered through the conduct of this study helped the researchers develop a budget plan for the students to
improve their budgeting practices. Keywords: budget practices, financial management, spending habits, saving habits, budgeting plan
1. Journal Description 2. Select Journal a. Declaration of Originality b. Select the Journal c. Paper Formatting d. Initial Manuscript Submission e. Peer Review Process f. Manuscript Revision g. Editing Services h. Final Manuscript Submission i. Acknowledgement to Publish j. Copyright Matters k. Inhouse Publication
Article History
Received: 28 May 2024 Accepted: 02 June 2024 Published: 01 August 2024
Volume 2, Issue 1, 2nd Quarter 2024, pp. 34 – 46
Budgeting Practices of Financial Management Students
of Tarlac Agricultural University
Angelina D. Lucero, Prince Edrin C. Dalde, Angel Q. Evangelista, Heziemiah L. Pascual, Kryss Adrey E. Santiago, Arisha Jean I. Siaotong, Karylle Ann B. Valez, Shiyeahna I. Labonete, Orlando H. Locading, Jr., Bench G. Fabros
Abstract:
University students need to master budgeting or the act of allocating money to help them make better financial
decisions in the future. Being aware of the budgeting practices of university students is essential in order to be
enlightened. Thus, allowing rooms for improvement to develop their budgeting skills. This study aims to shed
light on the budgeting practices of the financial management major students in terms of their spending and
saving habits as well as their financial problems and solutions. The sample composed of 104 Financial
Management majors who were in their first, second, or third-year college standing. This undertaking utilized a
quantitative descriptive method as research design. Through an online survey questionnaire, the desired data
was gathered. The researchers were able to derive valuable information from the respondents to fulfill the
research objectives by using frequency, rankings, and mode. Most of the respondents were at the age of 20
years old who are in the third year of Financial Management course in Tarlac Agricultural University. They
receive a monthly allowance amounting to Php 1,001- 2000 (18USD-36USD). Findings revealed that most of the
students can sometimes save money in a piggy bank or wallet; always save money for personal interests; rarely
give their saved money to people that are close to them; and always save money for emergency purposes. In
terms of the students’ spending habits, the students consider the necessity, prices, and benefits of the products
before purchasing, such as basic necessities, for their leisure activities, as well as their miscellaneous
expenses. Additionally, results also showed that the main problems encountered by the students when
budgeting are being indecisive in finance and having a lack of knowledge about the 50/30/20 budget rule. To
solve these problems, students mainly direct their efforts toward becoming smart consumers. This information
gathered through the conduct of this study helped the researchers develop a budget plan for the students to
improve their budgeting practices. Keywords: budget practices, financial management, spending habits, saving habits, budgeting plan
1. Journal Description 2. Select Journal a. Declaration of Originality b. Select the Journal c. Paper Formatting d. Initial Manuscript Submission e. Peer Review Process f. Manuscript Revision g. Editing Services h. Final Manuscript Submission i. Acknowledgement to Publish j. Copyright Matters k. Inhouse Publication
Article History
Received: 28 May 2024 Accepted: 02 June 2024 Published: 01 August 2024
Volume 2, Issue 1, 2nd Quarter 2024, pp. 34 – 46
Budgeting Practices of Financial Management Students
of Tarlac Agricultural University
Angelina D. Lucero, Prince Edrin C. Dalde, Angel Q. Evangelista, Heziemiah L. Pascual, Kryss Adrey E. Santiago, Arisha Jean I. Siaotong, Karylle Ann B. Valez, Shiyeahna I. Labonete, Orlando H. Locading, Jr., Bench G. Fabros
Abstract:
University students need to master budgeting or the act of allocating money to help them make better financial
decisions in the future. Being aware of the budgeting practices of university students is essential in order to be
enlightened. Thus, allowing rooms for improvement to develop their budgeting skills. This study aims to shed
light on the budgeting practices of the financial management major students in terms of their spending and
saving habits as well as their financial problems and solutions. The sample composed of 104 Financial
Management majors who were in their first, second, or third-year college standing. This undertaking utilized a
quantitative descriptive method as research design. Through an online survey questionnaire, the desired data
was gathered. The researchers were able to derive valuable information from the respondents to fulfill the
research objectives by using frequency, rankings, and mode. Most of the respondents were at the age of 20
years old who are in the third year of Financial Management course in Tarlac Agricultural University. They
receive a monthly allowance amounting to Php 1,001- 2000 (18USD-36USD). Findings revealed that most of the
students can sometimes save money in a piggy bank or wallet; always save money for personal interests; rarely
give their saved money to people that are close to them; and always save money for emergency purposes. In
terms of the students’ spending habits, the students consider the necessity, prices, and benefits of the products
before purchasing, such as basic necessities, for their leisure activities, as well as their miscellaneous
expenses. Additionally, results also showed that the main problems encountered by the students when
budgeting are being indecisive in finance and having a lack of knowledge about the 50/30/20 budget rule. To
solve these problems, students mainly direct their efforts toward becoming smart consumers. This information
gathered through the conduct of this study helped the researchers develop a budget plan for the students to
improve their budgeting practices. Keywords: budget practices, financial management, spending habits, saving habits, budgeting plan
1. Journal Description 2. Select Journal a. Declaration of Originality b. Select the Journal c. Paper Formatting d. Initial Manuscript Submission e. Peer Review Process f. Manuscript Revision g. Editing Services h. Final Manuscript Submission i. Acknowledgement to Publish j. Copyright Matters k. Inhouse Publication