CHAPTER I

Problem and its Background

Introduction
Nowadays we can see lots of banks in our country, whether in rural and urban areas.
Those banking institution provide services like saving, credit, payment and insurance to the
people. But many people cannot avail and accessed those financial services. That is why Banko
Sentral ng Pilipinas (BSP) makes an advocacy to improved Financial Literacy and increased
Financial Inclusion in our country (Tetangco 2013).
Bangko Sentral ng Pilipinas (BSP) monitored banking institutions based on the research
conducted in 2012 there are 39.7 million accounts and it rose 7.2 million, so as of June 2014,
there are 46.9 million of accounts in our country, which made Philippines one of the countrys
best in promoting financial inclusion (Tetangco, 2014). That is why BSP continued to implement
the financial inclusion agenda (Inclusive Finance Advocacy Staff, 2013).
Financial Inclusion is the access and availability of financial products and services to
all segments of society (Rangarajan, 2008). So, even those who are earning minimum waged can
have access to any financial services offered by those banking institution. It generally helps our
economy, for it decreased poverty and developed economic growth (Tetangco, 2013).
Financial Education is one of the keys to improved financial literacy. That is why BSP

wanted all people to be financially educated for them to make their own decision in managing
their finances and to secure their family financial needs (Tetangco, 2013).
The Bangko Sentral ng Pilipinas implemented Economic and Financial Learning
Program (EFLP), to promote awareness and understanding about financial issues and financial
decisions. The EFLP consists of learning sessions for their specific audience like elementary,
high school and college level also those employed person (Inclusive Finance Advocacy Staff,
2013)
The researchers come up to an idea to know what is relationship of the state of
Financial Inclusion and the perceived quality of life here in Marikina City and to know how
affordable financial services changed the quality of life of Marikina Residents.
Background of the study
A financial inclusion was the accessed and availability of financial services that gives to
everyone at an affordable cost especially to the financially excluded. Accessibility was available
and supported through what the clients know about financial services. The main goal of financial
inclusion was to improve the availability of financial services to the financially excluded.
Financial inclusion carried the opportunity to improve the welfare of everyone especially the
poor people (Inclusive Finance Advocacy Staff, 2013).
The Bangko Sentral ng Pilipinas recognized its objectives to pursue the financial
inclusion and to promote the efficiency and stability of financial system. And BSP had advocacy
to promote the financial inclusion to have accessed and used financial services. So Banko Sentral
ng Pilipinas implemented financial education for people to become aware about financial literacy

(Inclusive Finance Advocacy Staff, 2013).

Theoretical Framework
There are some reasons why financial inclusion is needed. One is the high population of
countries like Nigeria. Because of the number of people, the financial services were not made
available to each of them. So despite of being famous as one of the successful banking sector
they cannot be call it as achievement because of the lacked of access to formal financial services
(Aina and Oluyumbo).
The Reserved Bank of India (RBI's) reported and identify t the reason why people were
in financial exclusion and these are lacked of opportunities and access to finance financial
illiteracy, poor performance and negative approached of the banks. So Dr. M. M. Gandhi said
that the opening of bank account is the target of Financial Inclusion (Gandhi, 2013).

Conceptual Framework

e INPUT
1. Socio-demographic
profile
a ` Age
b Civil Status
c Gender
d Employment
Status
e Personal Income
f Educational
Background
PROCESS
2. Financial products and
services
offered
by
institutions.
3. State of financial
inclusion as determined
by:
a. access

Questionnaire

Survey

b. usage
c. quality
d. welfare

Feedback

OUTPUT
Relationship of the
State of Financial
Inclusion and the
Perceived Quality of
Life

Figure 1. Illustration of input, process and output of the research

Figure 1 showed the relationship of company profile of institutions that render financial services,
socio-demographic profile of the residents of Marikina City, financial products and services that
being offered by institutions in Marikina City and the state of financial inclusion as determined
by: access, usage, quality and welfare, to the state of financial inclusion in Marikina City. It
illustrated the process included all question for the respondents of Marikina City that can availed
and cannot availed financial products and services render by institution. After conducted the
survey, the financial inclusion will be determined and it will send a feedback to input.
Statement of the Problem
This study aims to determine the relationship of the state of financial inclusion in the
city of Marikina. Specifically, this study will seek to answer the following questions:
1

What is the socio demographic profile of the residents in Marikina City?

a

Age

Civil Status

Gender

Employment Status

Personal Income

Educational Background

What financial products and services are being offered by these institutions in Marikina?

What is the state of financial inclusion in these institutions as determined by:

a

Access

Usage

Quality

Welfare

Hypothesis
There is a significant relationship between the state of financial inclusion and the
perceived quality of life in Marikina city.
Significance of the study
The results of this study will be significant to the following:
To the researchers, who will become future financer, this study will give knowledge to
their curiosity about financial inclusion.
To the respondents, in order to give them understanding why they need to have access
in financial products and services which the bank offers. Also to help them build savings, avail
credit and make investment to improve their lives.

To the future researches, in a way that will serves as their reference to the study they
have conduct. The future researchers also add this study to their related literature and use as a
guide on how to do a research study, the format and how the arrangement of information is done.
To the banks, in such a way that this study will encourage the banks to provide
availability of banking and payment services with a low-cost for people to get access in financial
products and services and in business opportunity.
To PLMar which this study will be able to add as reference in the library. PLMar also
use this study to promote as good example term paper in student.
Scope, Limitation and Delimitation of the Study
This study was conducted in Marikina City. District I was composed of 9 barangays
such as Sto. Nio, Malanday, Barangka, San Roque, Jesus dela pea, Taong, Calumpang,
Industrial Valley complex and Sta. Elena. District II was composed of 7 barangays such as
Fortune, Parang, Concepcion Uno, Concepcion Dos, Marikina Heights, Tumana, and Nangka,
The study was conducted for the month of July to August in the year 2015 and was included
male and female residents of each barangay.
This study was talking about the state of financial inclusion to the residents of Marikina
City who both availed and not availed financial products and services. And it also talked about
the relationship of this study to the quality of life of Marikina residents.
Definition of terms
For better understanding and clarification of this study, the following terms are clearly

and operationally defined:

Access - it refers to the availability of affordable products and services that have connection
between people and the bank.
Age - it refers to the years that a person existed in his whole life. It can be also referred to as
young, adult and senior.
Banking Institution- is an organization or group of banks. It is the business firms that operate
by banks. Baking institution is the number organization that renders financial services.
Civil Status- refers to the status of a person in life. It can be classified as single, married, head of
a family or widow person.
Employment Status - it refers to the employees work/job where it is as part time, full time,
irregular, regular or stable job. It can be a basis of employees salary or wages.
Financial inclusion is the delivery of affordable financial services to everyone especially to
those who are low income earner. It can also in affordable cost that gives access.
Financial Performance- it is the level of performance of a business or measuring the results of a
firms operation in a specified period of time. Financial performance also determined as good or
bad outcome of an institution that renders financial services.
Future Researchers- it refers to a person or group of person that will conduct a research about
financial inclusion or related to this topic. They are one of the significant of this study.
Gender - it is the sexual identity of a person. It is either girl or boy; male or female. Gender can

be use to categorize something.

Location is the place or area which the bank is located or being occupied. It is the area where
the survey is being conducted.
Personal income - it is the money where regularly receive by an individual within a certain
period of time. It is the money that an individual spend for his self. It is either from his job or in
his personal business.
Quality it is the value of services which undertake by the banks. Quality can be a measurement
for expectation and product satisfaction.
Respondents- people who have or do not have access in financial inclusion in Marikina city.
These are the people who answered the interview questions. Respondent is one of the sources of
this research.
Usage - it refers to the act of taking/using products or services. It is the way of utilizing the
products and services. Usage can be presented by number of using over the total available
products to use or in a percentage form.
Welfare is the impact or effect of products and services to the lives of respondents.
Years of operation refers to the length of the business that operated. It can also determmined if
the busiiness is successful in the past years.

10

CHAPTER II
REVIEW OF RELATED LITERATURE
This Chapter includes selected literature and studies both foreign and local. This
includes ideas that served as guide in working out this research work.
The Socio-Demographic Profile
Age. In financial inclusion 2020, there was mapping fort the invisible market; this was
building for a movement towards the full financial inclusion in 2020. There was differentiating in
age in work with financial inclusion. The age range to 15-24 recommended segmenting market
further through market researched. Age was not choosing as a dividing line but rather what the
age represented. When the youth become an adult at the age of 25 he had made a major choice to
changed life, they were become career oriented in reality. At the age of 65 the people in this age
had a formal employment, use their money that they saved or they were relying on the non-work
related source of income. In this demographic work discussed the need that used on approach to
financial services. When the financial institutions listen to the need of clients beyond their birth

11

dates, they can helped them most and we can become in a better place (Greene & Kelly, 2013).
Gender. Women had a lack of potential and confidence to manage finances. That idea
caused the limitations and restrictions of the power of women to access financial resources.
Equality among men and women was issue that we need to solve in order to promote the
empowerment of the women. Women were also a people who can think and decide rationally for
the plans for their life. Remember, women were the one who budgeted the money of the family
( Kunt & Klapper, 2013).
Women power to access was limited not only in financial services but also in politically
and socially. Because the old culture was, women were just for households. But now a day,
women can finance and has a power to accessed financial services. They can now applied
services for the financing of their business, mortgage and other property or they can apply
accounts for savings for the future used. Despite of having now gender equality that comes in
accessing financial services, men were still on the top user of it because women had a lack of
time to access services due to their role in households (Kunt & Klapper, 2013).
Gender is one factor that affected measures of financial inclusion. More than 1.3 billion
of women had no account in financial institution. Someone of their family had already accounted
with 26 percent of women mentioned in not having an account but 20 percent of men without
one. The gender gap of women in having saving in the past year is 34 percent compared with 38
percent globally and 29 percent compared to 33 percent in developing countries. And also the
gender gap in borrowing behavior was 10 percent of men compared with 8 percent of women
having borrowed from the financial institution (Kunt, Klapper & Singer, 2013).

12

Employment status. People experienced the poverty because they are out of work
which is financially excluded. Gaining employment was the main source of people to improve
their lives and their choices of moving out of poverty. So, financial inclusion with employability
service can help people in possibility that moving forward in to the employment and staying in
employment.
Personal income. According to Shankar (2013) that the main reason why individual
was financially excluded was having low and irregular income of individual which prompt to
lacked of availability of financial products and lacked of motivation to have accounts due to
insufficiency to some money. The certain group who had lowest income cannot reach financial
services and also they need accessed to financial services.
Financial Products and Services
Financial Institutions were the main provider of financial services. Since there were
lacked of use of financial services because of the presence of the market failure, government
reduced the failure by establishing adequate regulation and policies. It needed to ensure that
financial services can reach the people with the appropriate products and access channels.
The use of financial product helped enterprises to make decisions, compare to having
difficulties in having only one funds generated by the economic activity they were engaged with.
Investment needs were not necessarily to be synchronized with the outflow and inflow of fund
generated from the productive process. It may occur at time when savings were insufficient.
Financial inclusion had an impact on productive investment because it had shown that there was
a positive relationship between the use of credit and growth of enterprises specifically the

13

smaller companies (Clamara,Pea &Tuesta, 2014).

Ghana provided branches of banks that included their Fidelity banks to serve their
people and their valued customer but 70 percent of Ghanians were still under banked or what we
call financially excluded people. That was why Fidelity established financial inclusion
directorate. Fidelity banks financial inclusion provided financial services to people who were
unbanked and under-banked. They needed to ensure that all the people in Ghana were financially
educated about their products, and also to ensure that those produce products improved the life of
their people. Agency banking mobile, digital banking, strategic partnership and microfinance
were those services that were part of the new directorate of Fidelity banks (Fidelity Bank
Limited, 2014).
State of Financial Inclusion
Access. Beginning in about 1980 up to the present time, financial services were
continuously changed. These changes got the attention of financial and non-financial companies
to enter in financial business as having accessed to financial service from different places. The
forms of access devises, including personal computers, personal digital assistants, and televisions
with interact access and cellular phones were a way of using by individual to got accessed in
financial services (Neave, 2009). It was the use of financial services without any hindrance. It
was the ability to access in financial services without any condition. And the customer or user
can applied for any financial services efficiently (Henry, 2010).
The Bangko Sentral ng Pilipinas (BSP) reports that 37.3 percent of municipalities in
country still do not have accessed at the bank as of the end of 2011. Those municipalities were

14

populated by more than 14 million people, which the total population constituted 15.2 percent.
Only 7.6 percent of total population had access to other financial services providers such as
pawnshops, money changers and remittance agents (Habaradas & Umali, 2013).
Usage. In the year 2013, it illustrated the increasing number of deposit in bank
account by 9 percent like in 2012 it had an amount of 41.8 million arise to 45.4 million in the
year of 2013. And in terms of total value of the peso it was increased 32 percent by 5.7 trillion in
the year of 2012 up to 7.6 trillion in the year of 2013. The growth increased from small savers,
by 8 percent from the number of deposit accounts below 15000 from the year 2012, it had an
amount of 31.6 million and it was increased from 34.1 million in the year 2013. All of these
deposits account in bank had consisting in 75 percent also deposit in non-bank institution
increased; it was deposit liabilities of non-stock savings and loan associations increased by 2
percent from 22.9 billion in the year 2012 from 23.3 billion in the year of 2013.
Then, the total number of loan portfolio increased its banking system by 27 percent
from having an amount of 3.33 million in 2012 up to 4.25 trillion in 2013. While microfinance
loan of portfolio of banks with microfinance activity shows it was increased by 3 percent in the
2012 and it had an amount of 8.4 billion and it was grew up to 8.7 billion from the year of 2013.
From the money accounts the number of registered grew up by 34 percent it had an amount of
19.9 million in the year 2010 increased the 26.7 million in the year of 2013. The E-money
account had increased by 57 percent from 138 million transactions from the year 2013 to 217
million at the year of 2013 while the total money of E-money grew by 58 percent 220.5 billion in
2010 to 348 billion in the year of 2013 (Inclusive Finance Advocacy Staff, 2013).
According to 2009 Consumer Finance Survey (CFS), said that 8 Filipino households

15

out of 10 did not have a deposit account which consist of 93 percent of these households said that
they do not have enough money for bank deposits. According to World Bank data, only 10.5
percent of Filipinos adult had a loan from a formal financial institution. Then, in 2010 Bankable
Frontier Associates (BFA), 55 percent of Filipino adults have availed of loan and bill payment
services which they studied (Habaradas & Umali, 2013).
Quality. Financial inclusion can be measured by quality. Quality shows the experienced
of the consumer to the financial products and services. It evaluated the relationship between the
financial service providers and the consumer which measured the level of understanding of the
consumers and their suggestion regarding to these products that accessible to them (Hannig &
Jansen, 2010).
Welfare. Bangko Sentral ng Pilipinas (BSP) searched for actions to improve the
consumer protection policies and programs. In 2013, the BSP set a step to assessed the
effectiveness of its initiative and improve consumer protection, regulations and activities. So the
BSP determined whether the regulatory, institutional system and practices results an effective
consumer protection (Inclusive Finance Advocacy Staff, 2013).
Synthesis of Review related Literature
Based on the demand in the Statement of the Problem, the researchers wanted to give
interconnected issues and provide different reactions that according to the experts which the
researchers have gathered that have enumerated in the Statement of the Problem. The residents as
the researcher respondents in this research study were classified according to their socio demographic profile which consists of age, gender, employment status, personal income, district and

16

barangay. This socio demographic profile used to collect information that might help to produced
general characteristics. Those residents do not have accessed in financial services and cannot
afford to avail because of many charges that affected their decisions. Those residents, who know
the financial products and services which offered by the banks and can availed, had a big role in
shaping their quality of life towards to the formal financial institution offering. Particularly, in
using financial products or services it creates a wide range of awareness to spread to all the target
users the information intended for them.
The strong point of this study, it enables to discuss the related topics which give
understanding and clarification to the subject of this exploration. Like what had been discussed
in having access to the bank give a big role in life of those residents that persuade them to create
any movement in employing their life to formal financial institutions. It created the research
useful and relevance to identify the relationship of the state of financial inclusion and perceived
quality of life in terms of access, usage, quality and welfare. It encouraged those residents to
have account for their own or family to secure their lives and the opportunity to economic
condition. All of these were possible for have a tool to be used, that is financial products and
services to influence the residents what right products and services they can avail.
The weakness that the researchers noticed in this subject matter is that some people do
not have money to use or have a little money to put. Some of them do not have interest, lacked of
knowledge about financial product and services offered by banks, and some of them just do not
want to avail. Some were not interested to open or to have a savings account because it was
hassle for them to save their money to bank than to have a piggy bank.
To the next researchers who conducted a study which is related to this research topic,

17

the researchers of this study suggest to gather more related literature that discusses the
relationship of the state of financial inclusion and the perceived quality of life using any media
platforms such as internet, book, articles and television that were very useful to inform residents
about any financial product and services of financial providers. All literature about financial
inclusion surely explained that the financial inclusion were really useful to the lives of the people
particularly in the low-income segments of society.

CHAPTER III
METHODOLOGY
This chapter talked about the procedures that involved in conducting this study. It also
talked about the research design, research locale, data instruments, data gathering procedures,
data analysis, threats to validity and ethical consideration. According to Furchan (2010), the
writing purpose of research methodology was to demonstrate to the reader that as a researcher
you know in detail how to conduct your proposed research and the research method was logical,
applicable, valid and reliable.
Research Locale
Based on the Quick Marikina Facts (2012), Marikina city was one of the 13 cities and 4
municipalities comprising Metro Manila. Marikina city was approximately 21 kilometers away
from Manila. On the east part was bounded by Sierra Madre mountains and Quezon city; on the

18

north part was San Mateo; and on the south part was bounded by Pasig city and the municipality
of Cainta. The City was composed of two congressional Districts with 16 barangays.
Population Sampling or Respondents of the Study
In this section it talked about the population needed in conducting the study. It
discussed about the population where the respondents situated or the geographical location which
was Marikina city, and about the sample and sample size of this study. In this study conducted it
discussed the sampling techniques and the sample distribution.
Population. It is the total number of people you want to study or conducting a research.
This people are from a large group of people who chose by the researcher to represent for the all
group. This number of people that represent for their group is called sample (Yount, 2006).
Sample and sample size. The sample of this study was those people who availed and
cannot availed financial services living in District I and II in Marikina City. It consist of 16
barangays; it includes, Barangka, Industrial Valley Complex, Jesus Dela Pea, Kalumpang,
Malanday, San Roque, Sta.Elena, Sto.Nio, Taong, Fortune, Parang, Concepcion Uno,
Concepcion Dos, Marikina Heights, Tumana and Nangka.
Sampling is the process or techniques of selecting a certain group of subjects from the
sample which is part of the study of the researchers in such a way that those individual represent
as the group (Mugo, 2002). Those individuals who have selected from contributed as a portion of
the group in which the researchers focused on. Sample is a certain group of population that the
information is a thing (Sirug, 2011). Sample is also a representative part among the group of
population and the target in conducting a survey of the researchers (Mugo, 2002).

19

The formula that the researchers used in computing the sample size was the Slovins
formula n = N/1+Ne2, to calculated and to get the suitable sample size from a one population
(Andale, 2012). The overall population of household in, Marikina City has a total of 108,958.
Marginal error determined how the survey or result of experiment is reliable. When the margin of
error is higher, there are tendency that the result of survey is less likely through. It expressed as a
percentage and as absolute number. Sometimes it is in capable to take care the error of the survey
questions is in adequately or the respondent did not answering correctly (Calla, 2009).
Sample size is defined as the number of members in a sample. This is the number of
observation in a sample to collect a quantitative data (Weisstein, 2015).
Sampling techniques. This research study used Non-random sampling where sample
are pick out in an intentional aspect with little or no purpose to randomization; it is also known
as Non-Probability sampling (Sirug, 2011), specifically, purposive sampling which is defined as
the selecting of sample based on the knowledge of the researchers. It may be useful if the
researchers want to study in small set of population, because the members are easily identified
but the enumeration of all is impossible (Latham, 2007). It is in the form of non-probability
sampling which the researchers make a decision about the individuals who would be included in
the sample. The researchers make a decision about the respondents who could contribute to the
study (Oliver, 2006).
The respondent of the research was the residents of District I and District II of Marikina
City, who both availed and not availed financial products and services. Those are the
qualifications required by the researchers as a subject for this study to be chosen as a respondent.

20

Sample distribution. In this section of study, the table indicated in table 1 shows the
sample distribution of District I and District II in Marikina City. In the first column is stated the
16 barangays in District I and District II of Marikina City, which are the sample of this study; on
the next column is the number of households of each barangays with a total of 108,958. It
followed the percentage of the number of households that the results used the formula which
under table 1, the table covering a total of 100%. Lastly, the sample size shows of how many
respondents that the researchers will be going to survey, based on the percentage of each number
of households in District I and District II of Marikina City with a total of 398 respondents.
Table 1.
Tabular Presentation of the Sample Distribution of the Household-Respondents
District I and II of
Marikina City
Kalumpang

No. of Households

Percentage

4,838

4.44%

Sample Size
(398)
18

Barangka

6,418

5.89%

23

Taong

2,995

2.75%

11

Jesus dela Pea

2,943

2.17%

11

Industrial Valley

4,295

3.94%

16

San Roque

5,186

4.76%

19

Sta. Elena

1,712

1.57%

Sto. Nio

8,706

7.99%

32

Malanday

11,976

10.99%

44

Concepcion Uno

12,021

11.02%

44

Marikina Heights

8,106

7.44%

30

Complex

21

Parang

11,808

10.82%

43

Nangka

7,802

7.16%

28

Concepcion Dos

5,609

5.50%

20

Fortune

7,173

6.15%

26

Tumana

7,370

6.76%

27

Total

108,958

100%

398

Source: Marikina City Demography 2012

The formula used to get the percentage of each barangay is P=H/N x 100%, where P is
percentage, H is the number of households for each barangays and N is for the total number of
households of those barangays. The researchers simply divide each number of households to the
total number of households and then it was multiplied by 100%, to get the percentage of each
barangays. The calculation of percentage was necessity in order for the researchers to know how
many respondents for each barangays were going to be surveyed.
Research Design.
It was the key to have a good strategy and a better result in conducting a research.
Research design is used in research study to constitute the collection, measurement and analysis
of data (Cooper, 2011).
This study used Quantitative method particularly Survey method to examine the
relationship of the state of financial inclusion and the perceived quality of life. The researchers
used Survey method to gathered data from the respondents.
Quantitative method is defined as the collection of data in numerical method or based
on mathematical method. It explained particular phenomena or questions which result in

22

numerical form or answered by quantitative method. In doing a quantitative research it uses

statistics to analyzed data that being collected. Quantitative method is used to project a larger
population about the research process. It can be done by conducting a survey to collect and
analyzed the data. The results that are found among the sample are interpreted to determine the
probability conclusion and it can be replicate in a larger population (Borrego & Douglas, 2002).
Survey is an activity that gathers information in an organized way about the interest of
a particular population using well defined concept methods and procedures to make a useful
summary for, it usually begin with the need of information where there is no data exist. Survey
users can be powerful because it may be the only way to gather information for ongoing research
(Statistic in Canada, 2010).
Research instrument
The researchers used Survey Questionnaire as the data instrument of this study. It
included in choosing an unbiased sample representative of the subject from the group that a
person wish to study. The survey was done by face-to-face interview, through telephone
interviews, through e-mail and using questionnaire (Neville, 2007).
The advantage of Survey Questionnaire is promotes a more valid and reliable results in
the group of population that is covered in the research. The exertions of effort and money
become worthy at the same time that gives more reliable information which is that the
respondents, as they answered the questionnaire willingly. Disadvantage is occurring in the
confusedness of the respondents based on their understanding which is differ from the
researchers question that make a big mistake. And the impersonal surveying lead to

23

misunderstanding between the researcher and respondent that is resulted to unreliable

information of data (Singh, 2006).
Design of the instrument. The survey questionnaire of this study composed of four
parts, first was about the socio demographic profile of respondent, specially, residents who are
living in Marikina, particularly, in district I and II which includes of age, gender, civil status,
employment status, personal income, educational background, district and barangay. The
researchers composed sub-questions on this part that under in socio demographic profile on the
of the problem. The second part was focus on about the financial products and services which
have only one question and this question has a sub-question. Then the third part was composed
of eleven questions that talks about the state of financial inclusion. Finally, the last part was all
about the quality of life which composed of eight questions.
The researchers used Likert Scale as measuring tool in answering the questions that
indicated in this survey questionnaire of this study. The number 1 represents extremely, number 2
means very much, number 3 stands for a moderate amount, number 4 is a little and number 5
represents not at all. Likert scale is a five or more scale type item to be followed by several levels
of agreements (Yount, 2006).
Face validity. Validity is interest with the purpose of research components (Drost,
2011). Face validity is the degree of test that the respondents examine the content of a test which
is important in the context (Holden, 2010). It is also a judgment through a construct validity
which regularly seen (Drost, 2011). Face validity refers to the awareness of the test in its items
which appear to the persons who answering the test (Holden, 2010).

24

The researchers survey questionnaire was validated by their research adviser, which
composed four parts of question.
Data gathering procedure
As proposed by Madhu Bala, Data Gathering Procedures/ Data Collection Procedure
are one of the most important in research. The research questions has been made and needed to
answer for the completion of a research (Bala, 2005).

Constructed Items for

Validated

Survey Questionnaires

Waited the
Respondents to
Finish

Conducted the
Actual Survey

Categorized
Questions

Requested Letter of
Permission for
Conducting the Survey

Figure 2.Illustration of data gathering procedure

The researchers started the process of collecting data by conducting a survey from the
respondents, who are individually, availed or cannot availed financial products and services that
are residents of Marikina City. In this study, the researchers constructed survey questionnaire,
which was the data instrument that used to gather information from the respondents. First, the
researchers held a group discussion regarding the division of tasks and then it decided that all of
them were going to construct first 50 questions in having a relation with the statement of the
problem and conceptual framework of this study. Secondly, those 50 questions, was written in a
scratch paper and one of the researchers was assigned to typed it. After encoding the 50
questions the researchers were printed it from the computer shop for the hard copy. The

25

researchers go to their Thesis Proposal Adviser for corrections and clarifications about the
construction of questions.
After the construction of survey questionnaire, the researchers conducted a survey to
the target respondents who are located in Marikina City with a total of 108,958 households.
Having a 398 sample size and the formula that used was the Slovins formula. The researchers
allocated the 398 survey questionnaire in the respondents of 16 barangays in District I and
District II of Marikina City. For the target respondents in Marikina, the researchers distributed
the 23 copies of survey questionnaire in barangay Barangka; 44 copies in barangay Malanday; 11
copies in barangay Jesus dela pea; 18 copies in barangay Kalumpang; 6 copies in barangay Sta.
Elena; 11 copies in barangay Taong; 19 copies in barangay San Roque; 32 copies in barangay
Sto. Nio, 19 copies in barangay Industrial Valley Complex, 44 copies in barangay Concepcion
Uno, 30 copies in barangay Marikina Heights, 43 copies in barangay Parang, 28 copies in
barangay Nangka, 20 copies in barangay Concepcion Dos, 26 copies in barangay Fortune and 27
copies in barangay Tumana with a total of 398 survey questionnaire.
The researchers conducted the said survey to the households last on July to August
2015, Saturdays and Sundays, starting 9:00 in the morning up to 5:00 in the afternoon. The
questionnaire distributed 1-2 days for every barangays in Marikina City. The researchers divided
into two groups for faster survey, the first group distributed the survey questionnaires in District I
and the second group distributed the survey questionnaire in District II. The researchers had
patiently waited the questionnaire until the respondents finish answering that questionnaire
before going to another household respondent of survey.
Non-response issues. It is defined as the failure to collect data from a sample unit of a

26

target population. It may happen if the sample unit is refuses to answer some of the questions in
questionnaire. The questions may be sensitive or it is misunderstood by the respondents. The
result of the data that collected in a survey is an indication of how reliable the data are (Okafor,
2010).
The questionnaire has a incomplete answer was treated as invalid and not considered as
part of the survey, but in order to make sure that the questionnaire was completely answered, the
researcher check it first before leaving the households. If the survey questionnaire was
incompletely answered, the researchers request to the respondents t to answer the questions that
they leaved.
Statistical Treatment of Data
Data Analysis. It is the crucial step in survey because the quality of the analysis can
affect the whole survey. A summarizing and interpreting of data meaning that gives clear
interpretation of answer to the questions. The result of the survey should be related to the
question in the statement of the problem (Statistic in Canada, 2010).
Under of this section talked about the statistical tools that used in this study. There are
two types of Statistical treatment namely; Descriptive and Inferential Statistical tools. The
researchers used this method to analyze each question written in the Statement of the Problem of
this study. Descriptive Statistic is the overall methods and treatments engaged in the collection
which the purpose is to give information about a certain group of data. The Inferential Statistic is
the technique from sample analysis to interpretation about the population which also known as
statistical inference or inductive statistics (Sirug, 2011). Also inferential statistics aim to go

27

beyond the data and make explanation about the limits of population (Burke, 2013).
Analysis of the statement of the problem. In presenting, interpreting and analyzing
the data gathered by the researchers, the use of statistical tools become essential:
To answer the part I questions, which the socio-demographic profile of respondents,
the researchers used frequency and percentage distribution to get the number of observations in
each classes where f = number of respondents and n = total number of respondents. The
researchers simply divide the number of respondents to the total number of respondents and
multiply it by 100 percent.
P = F / n x 100
The researchers used the nominal scale to compute its mean to solve the questions in
part I. Nominal scale is the classes or categories which differentiate for the purpose of nearly
classification and identification. The used of mean is applicable to determined a central tendency
of interval or ratio data. It is only the usual measure to know a certain value this is called mean.
x = x / n
The formula of mean where x is the sum of all Xs, x is the sample mean, x is the
value of any particular observations or measurement and is the total number of values in the
sample. To get the mean with the used of this formula, the sum of x is divided by the total
number of values in the sample.
Standard Deviation refers to a statistical term that gives a good intimation to the data
of measures how values are disassemble from the average distance for each element from the

28

mean. Standard Deviation also defines as calculated being a square root of a variance. Standard
Deviation formula:
SD nx2 (x)2/n(n-1)

Where x is the sum of all XS, and n is the total number of values in the sample. To
compute standard deviation, the square root of total numbers of values multiplied by the sum of
all XS squared, divided by the total number of values, multiplied by total number of values minus
one (Sirug, 2011).
To answer a part III question which is the state of financial inclusion, the researchers
used nominal to compute its mean and ordinal to compute its weighted mean. Weighted mean is
useful to measure the response of the respondents from survey questions where f = total response
in each question, x = likert scale and n= total number of respondents. The formula is multiplying
the total response to the likert scale then divided by the total number of respondents (Sirug,
2011).
X= f1x1 + f2x2 + f3x3
n
Lastly, to answer the part IV question which is quality of life, the researchers used also
the same statistical tool from above.
Hypothesis Testing. It is defined as the statistical method that is used in making
decisions on statistical basis by using experimental data. This hypothesis testing is an assumption
that the population they make becomes the parameter. There are two procedures in hypothesis
testing, first is the Null hypothesis, it shows that there is no significant difference and assumes

29

that the observation happens by chance factor. The second one is the Alternative hypothesis, it
shows that there is a significant difference between the two variables and the results want to
prove by the researchers (Sirug, 2011).
Threats to Validity. There is much more evidence of threats to validity than sources of
validity. Threats to validity is defines as the factors that interfere with the interpretation of data.
According to Messick, there are two major sources of validity threats. The construct under
representation pertains to the under sampling or bias sampling while the construct irrelevant
variance pertains to systematic error. But they both reduce the ability to interpret the instrument
that decreases evidence for validity (Downing & Yudkowsky, 2009).
The internal validity is referred to as control. Control variable or constant is added to
sets of substitution for development variable. Most common set of variable consists of
dependent, independent and intervening variables. External validity is the condition that permits
the interference of the sample findings to the population from which the sample are selected
(Singh & Upadhya, 2008).
Ethical Consideration
The consideration of ethics in research showed understands that basic ethical research
and how it affects the research. It is most important if the research involved interaction to
community who serves as participants or what we call respondents. There are some possibility
that may harm the interaction between the researchers and the respondents. It includes
psychological harm, those that would offend the respondents, financial harm, like these unethical
behavior that provides management information on individual employees that could cause them

30

to be fired and those sensitive information of firm competitor that result to the financial harm of
organization. Lastly, the social harm where in it affects the person to the things that is
confidential. And it is the researchers responsibility to consider which of the three harms could
occur. Ethics are not trying to change researcher values, but it only wanted researchers to be
aware of potential ethics issues that would occur in the research (Polonski, 2002).
Ethical consideration incorporates policy, codes and principals are important but they
do not cover every situation sometimes they conflict and required interpretation. Thats why
researcher should learn to analyze and interpret the data to make decision about the situation
(Resnik, 2011).

31

CHAPTER IV
PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA
The data gathered from the respondents of Marikina City in District I and District II will
be discuss in this chapter and the relationship of the state of financial inclusion and perceived
quality of life. In this chapter, the 398 respondents answers to the questionnaires and the result
will be discuss. The researchers assure to the respondents that the results will be used for the
purpose of the research study and the identities will be strictly confidential. It is assumed that the
characteristics of the respondents will influence their behavior and answer to the survey
questions. The objective of this study is to determine the relationship of the state of financial
inclusion and the perceived quality of life in Marikina City.
Table 2
Frequency and Percentage Distributions of the Respondents According to Age

Valid

below 20 years old

between 21 to 30 years old
between 31 to 40 years old
between 41 to 50 years old
between 51 to 60 years old

Frequency
47
107
110
76
47

Percent
11.8
26.9
27.6
19.1
11.8

32

61 years old and above

Total

11
398

2.8
100.0

The table shows the age of 398 respondents which is equivalent to 100 percent. The highest
age bracket is in the age of 31-40 which is equivalent to 27.6 percent, next would be the age
bracket of 21-30 that has a percentage of 26.9, followed by the age bracket of 41-50 that has 19.1
percent, and then the ages below 20 and 51-60 equivalent to 11.8 percent, and the lowest age
bracket would be at the age of 61 above with the percentage of 2.8 of all respondents.

Table 3
Frequency and Percentage Distributions of the Respondents According to Gender

Valid

Male
Female
Total

Frequency
185
213
398

Percent
46.5
53.5
100.0

This represents the gender of the respondents, which is the male and female. The female
has the highest percentage of 53.5, and male has a 46.5 percent of all the total respondents.
Table 4
Frequency and Percentage Distributions of the Respondents According to Monthly Income

Valid

below Php 5000

Php 5000-Php 10000
Php 10000-Php 20000
Php 20000-Php 50000
Php 50000 up
Total

Frequency
21
99
203
67
8
398

Percent
5.3
24.9
51.0
16.8
2.0
100.0

It represents the monthly income f the 398 respondents. The highest percentage of the

33

monthly income bracket is ranging from P10,000-P20,000that has a percentage of 51.0 percent,
next is ranging from P5,000-10,000 which has a percentage of 24.9 percent. Then it followed by
the income bracket ranging P20,000-P30,000 which has a percentage if 16.8 percent. The second
to the last is below P5,000 which has a percentage of 5.3 percent. And the lowest percentage is
income that range to P50,000 and above with a percentage of 2.0 of all the total respondents.

Table 5
Frequency and Percentage Distributions of the Respondents According to Employment Status

Valid

Employed
Unemployed
Total

Frequency
254
144
398

Percent
63.8
36.2
100.0

This table shows the employment status of 398 respondents which is equivalent to 100
percent. The highest percentage of employment status is the employed with a percentage of 63.8
percent and the unemployed has a 36.2 percent f all the total respondents.
Table 6
Frequency and Percentage Distributions of the Respondents According to Civil Status

Valid

Single
Married
Widow
Total

Frequency
163
220
15
398

Percent
41.0
55.3
3.8
100.0

This table represents the civil status of the respondents. In a given data the highest

34

percentage is the married with a percentage of 55.3, it was followed by single that has a
percentage of 41.0 percent, and the lowest percentage is the widowed with a percentage of 3.8
percent of all the total respondents.

Table 7
Frequency and Percentage Distributions of the Respondents According to Educational
Background
Frequency
Percent
Valid
elementary undergrad
2
.5
elementary graduate
1
.3
high school undergrad
17
4.3
high school graduate
113
28.4
college undergrad
148
37.2
college graduate
117
29.4
Total
398
100.0
It represents the educational background of the respondents. It consists of Elementary,
High School and College whether it is Undergrad or Graduate. The highest percentage rely in the
College Undergrad that has a percentage of 37.2 percent, next is college graduate that has 29.4,
followed by the high school graduate which is equivalent to 28.4 percent, then the high school
undergrad which is 4.3 percent, second to the last is, elementary undergrad that has .5 percent,
and lastly those elementary graduate that has .3 percent of all the total respondents.
II. FINANCIAL PRODUCTS AND SERVICES
Table 8

35

Survey results on Savings

Responses
Savings

Savings Account
Individual Savings Account
Others

Total

N
211
4
6
221

Percent
95.5%
1.8%
2.7%
100.0%

This table represents the savings that the respondents availed. In a given data the highest
percentage is the savings account with a percentage of 95.5 percent, it was followed by other
accounts that the respondents availed with a percentage of 2.7 percent, and the lowest percentage
is the individual savings account with a percentage of 1.8 percent.
Table 9
Survey results on Borrowings
Responses
Borrowings

Total

Loan
Credit Card
Housing Loan
Business Loan
Others

N
47
31
6
5
1
90

Percent
52.2%
34.4%
6.7%
5.6%
1.1%
100.0%

This table represents the kinds of borrowing that the respondents availed. In a given data
the highest percentage is loan with a percentage of 52.2 percent, it was followed by credit card
that has a percentage of 34.4 percent, next is housing loan with the percentage of 6.7 percent.
The second to the lowest percentage is the business loan with 5.6 percent and the lowest is other
loans that the respondents availed with a percentage of 1.1 percent.
Table 10

36

Survey Result on Insurance

Responses
Insurance

N
35
40
6
81

Life Insurance
Health Insurance
Others

Total

Percent
43.2%
49.4%
7.4%
100.0%

This table shows the respondents who availed insurance in a bank. In the given data the
highest percentage is health insurance with the percentage of 49.4 percent; it was followed by
life insurance with a percentage of 43.2 percent. And the lowest percentage is the other insurance
that the respondents availed with a percentage of 7.4 percent.
III. Financial Inclusion
Table 11
Survey results on both avail and cannot avail financial products or services
Frequency
Percent
Valid
Yes
224
56.3
No
174
43.7
Total
398
100.0
In this table it shows the percentage of the respondents who both availed and not availed
financial products and services. The highest percentage is the respondent who availed financial
products and services to the bank with a percentage of 56.3 percent. The lowest percentage is the
respondents who do not availed financial products and services to the bank with a percentage of
43.7 percent.
Table 12
Survey results on the reasons for opening a bank account
Valid

for receiving remittances

for saving money
to request a loan

Frequency
11
194
19

Percent
2.8
48.7
4.8

37

Missing
Total

Total

224

56.3

System

174
398

43.7
100.0

In this table it shows the reasons why the respondents open an account to the bank. The
highest percentage is for saving money with a percentage of 48.7 percent. Next is to request a
loan with a percentage of 4.8 percent; and the lowest percentage is for receiving remittances with
a percentage of 2.8 percent.

Table 13
Survey results on the reasons for not having bank account
Valid

Missing
Total

I have no money/little money to put in

Concerned that there may be too many
charges
Tried to open but application was
declined
Not important to me
Total
System

Frequency
125
10

Percent
31.4
2.5

2.0

31
174
224
398

7.8
43.7
56.3
100.0

In this table it shows the reasons why the respondents are not able to have a bank
account. The highest percentage is because they dont have money/ little money to put in with a
percentage of 31.4 percent. It was followed by they dont important to them with a percentage of
7.8 percent. Then it was followed by concerned that there be may be too many charges with a
percentage of 2.5 percent. And the lowest percentage is the tried to open but application was
decline with a percentage of 2 percent.
Table 14
Survey results on how frequent/often deposit money in bank account

38

Valid

At least once a month

Less than once a month
I put money when I can
Others

Missing
Total

Total
System

Frequency
95
46
66
14

Percent
23.9
11.6
16.6
3.5

221
177
398

55.5
44.5
100.0

In this table it shows how often the respondents deposit money in their bank account for
savings. The highest percentage is at least once a month with a percentage of 23.9 percent, it was
followed by I put money when I can with a percentage of 16.6 percent. Next is less than once a
month with a percentage of 11,6 percent and the lowest percentage is others with a percentage of
3.5 percent.
Table 15
Survey results on the reasons to borrow from the bank
Valid

Missing
Total

Low rate of interest

Was offered by the bank
It is easy
Trustworthy lender
Others
Total
System

Frequency
42
12
7
18
2
81
317
398

Percent
10.6
3.0
1.8
4.5
.5
20.4
79.6
100.0

In this table it shows the reasons why the respondents borrow from the bank. The highest
percentage is the low rate of interest with a percentage of 10.6 percent. It was followed by the
trustworthy lenders with a percentage of 4.5 percent; next was offered by the bank with a
percentage of 3 percent. Second to the lowest percentage is because it was easy with a
percentage of 1.8 percent. And the lowest percentage is the other reasons why they borrow from

39

the bank with a percentage of 0.5 percent.

Table 16
Survey results on refused to have a loan or credit
Valid

Yes
No
Total
System

Missing
Total

Frequency
15
56
71
327
398

Percent
3.8
14.1
17.8
82.2
100.0

The table shows if the respondents were refused to have a loan or credit in a bank. The
highest between the two were said no that they did not refused for a loan with a percentage of
14.1 percent. And the lowest were said yes that they already refused for a loan with a percentage
of 3.8 percent.
Table 17
Survey results on reasons to refuse for a loan or credit
Frequency
Percent
Valid
Previous bad credit history
1
.3
No job, unemployed
14
3.5
Total
15
3.8
Missing
System
383
96.2
Total
398
100.0
The table shows the reasons why the respondents are refused to have loan or credit. The
highest is the no job/unemployed with a percentage of 3.5 percent. And the lowest is the previous
bad credit history with a percentage of 0.3 percent.
Table 18
Survey results on needed money in case of emergency
Valid

Ask family or friends

Take out loan from other sources
Sell something
Use my credit card

Frequency
221
11
20
8

Percent
55.5
2.8
5.0
2.0

40

Draw on savings
Total

138
398

34.7
100.0

In this table it shows what the respondents do if they needed money in case of emergency.
The highest percentage is to ask family or friends with a percentage of 55.5 percent. It was
followed by draw on my savings with a percentage of 34.7 percent. Next is to sell something
with a percentage of 5 percent. Second to the lowest percentage is take out loan from other
sources with a percentage of 2.8 percent. And the lowest percentage is to use my credit card with
a percentage of 2 percent.

Table 19
Survey results on the products or services offered by bank helps to improve life
Frequency
Valid
No
43
If yes, in what way?
184
Total
227
Missing
System
171
Total
398

Percent
10.8
46.2
57.0
43.0
100.0

In this table it shows if having a bank account helps the respondents to improve their
lives. The highest between the two answers said yes with a percentage of 46.2 percent. And the
lowest said no that it does not help them to improve their lives with a percentage of 10.8 percent.
Table 20
Survey results from the level of interest from local financial services

1.Saving small amount of

money
2.Taking a business loan
3.Advice about managing
debt

Median
(Mdn)
1

Variance

IQR

.403

1.218

1.109

Verbal
Interpretation
Very Interested
Not very
Interested
Not very

41

4.Advice on welfare
benefit
5.More information about
financial matter

1.050

interested
Fairly Interested

1.096

Fairly Interested

This table shows how the respondents rank their level of interest from this local financial
services, a descriptive tool was used particularly Median, Variance and IQR.
The result shows from a sample of 398 respondent, they are very interested to save a small
amount of money (Mdn=1,IQR=1,N=398). The respondents are fairly interested about the
advice on welfare benefit (Mdn=2,IQR=1,N=398) and to have more information about financial
matter (Mdn=2,IQR=1,N=398). The table also shown that they are not very interested about
taking a business loan (Mdn=3,IQR=2,N=398) and an advice on how to manage their debt
(Mdn=3,IQR=1,N=398).
Table 21
Survey results from the level of importance of the following
Median
(Mdn)
1
3

Variance

IQR

.299
1.591

0
2

3.Credit card

1.233

4.Investment advice
5.Financial education

2
2

1.276
1.160

1
1

1.Bank account
2.Small personal loan

Verbal
Interpretation
Very Important
Not very
important
Not very
important
Fairly important
Fairly important

This table represent how respondents give importance to bank account, small personal
loans, credit card, investment advice and financial education. By using the descriptive method
specifically Median, Variance and IQR.
The results show that bank account is very important to the respondents,
(Mdn=1,IQR=0,N=398). Investment advice and financial education is fairly important

42

(Mdn=2,IQR=1,N=398). And both small personal loans (Mdn=3,IQR=2,N=398) and credit

cards (Mdn=3,IQR=1,N=398) has the least importance given by the respondents.

IV.QUALITY OF LIFE
Table 22
Survey results on quality of life

1.How much do you

enjoy life?
2.How safe do you feel I
n your daily life?
3.Do you have enough
money to meet your
needs?
4.Do you have
opportunity for leisure
activities?
5.How healthy is your
physical environment?
6.Hw secured are you in
te condition of your
living place?
7.Are you aware on
whats happening in your
community?
8.Do you contribute for
the improvement in your
community?

Median
(Mdn)
2

Variance

IQR

Verbal
Interpretation
Very much

.523

.632

.801

.729

Moderate
amount

.395

.740

Moderate
amount
Very much

.550

Moderate
amount

.951

Moderate
amount

Moderate
amount
Moderate
amount

The table represent the Quality of life of 398 sample of respondents, using the

43

descriptive analytical tool specifically, Median, Variance and IQR. Their results show that the
respondents feel so much safeties in their daily life (Mdn 3,IQR=1,N=398) , they are secured in
the condition of their living place (Mdn=3,IQR=1,N=398). The table also show that there is a
moderate amount of enjoyment (Mdn=2,IQR=1,N=398), and opportunity for leisure activitities
(Mdn=3,IQR=1,N=398),also a moderate amount of having enough money in times of need
(Mdn=3,IQR=2,N=398). And moderate amount to their physical environment (Mdn
3,IQR=1,N=398)., on how aware they are on what is happening in their community
(Mdn=3,IQR=0,N=398). and how they contribute for its improvements
(Mdn=3,IQR=1,N=398).

44

CHAPTER V
SUMMARY, CONCLUSION AND RECOMMENDATION
Summary
This study was conducted to determine the relationship of the estate of financial inclusion
and the perceived quality of life of Marikina residents. Specifically, it seeks to answer the
following questions.
1. What is the socio demographic profile of the residents in Marikina City?Age
a. Civil Status
b. Gender
c. Employment Status
d. Personal Income
e. Educational Background
2. What financial products and services are being offered by these institutions in Marikina?

45

3. What is the state of financial inclusion in these institutions as determined by:

a. Access
b. Usage
c. Quality
d. Welfare

Hypothesis
There is a significant relationship between the state of financial inclusion and the
perceived quality of life in Marikina city.
Through the use of survey that was conducted in the City of Marikina, the data was
conducted from 398 respondents through a statistical tools such as descriptive and inferential
statistical tool to come up to the result. The result was analyzed to formulate a conclusion.
Conclusion
After a careful analysis of the results, this study arrived at the following conclusions:
The financial products and services which availed by the residence of Marikina, the
SAVINGS ACCOUNT were most accessible and affordable for the respondents. The residence of
Marikina wanted to save their money for their security and family financial needs.
While in terms of the state of financial inclusion, majority of the respondents say YES

46

that they have an access to the bank. That is why they have more understanding and their access
to the financial products and services improved and secure mostly their lives, and helped also the
economic condition of the country.
In terms of the quality of life of Marikina residence most of the respondents has a
MODERATE AMOUNT of living in terms of enjoyment and leisure activity. While they are
VERY MUCH assured in terms of their safeties and securities in their daily lives.
The researchers then concluded that most of the respondents engaged in financial
products and services changed their quality of life by improving it not only at their present life
but also for their future. Those affordable products affect the quality of life of respondents in
terms of their financial decision, in a way that they make movements in employing their lives to
formal financial institution.
Recommendation

The researchers recommend to the respondents that they should be more aware to the
financial products and services that offered by the bank and how they can avail it. They also need
to have better understanding about the financial products and services that offered by the bank to
know what are the benefits they can get if they will avail the financial product and services. The
researchers also encourage the respondents to availed financial products and services for their
own family to secure their lives and the opportunity to economic condition.
The researchers recommend to the banks that they should give more attention to the
people who cannot avail financial products and services in the banks. They should have a better
plan on how they can encourage the people to avail financial products and services that they

47

offered. And also they need to have a plan on how they can motivate or convince the people to
avail the services that they offer and to tell them what are the benefits of availing financial
services. The researchers also recommend to the bank that they need to create a strategy to
increase the number of people that can have availed to the bank. And they should lower the
service charge that they impose so that the people can have an access to the financial product and
services that they offered.
To the future researchers the researchers recommend that if they decided to conduct the
same study, they should conduct first the pilot testing to make the sure the reliability of the study.
It will validate the study because they will be using test to validity to be more accurate about the
data of the study. And also, they need to gather more information with regards to this study in
order to make it more reliable.

48

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habaradas-uali-final-2013.pdf
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mployabilityServicesGuidelines_tcm4-675693.pdf
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;Policy

Issues. Asian Development Bank Institute. Retrieved March 4, 2015 from,

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ssues.pdf
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APPENDIX
REPUBLIC OF THE PHILIPPINES CITY OF MARIKINA
PAMANTASAN NG LUNGSOD NG MARIKINA
COLLEGE OF BUSINESS ADMINISTRATION
SSS Village Sierra Madre,Rainbow St.
Concepcion Dos, Marikina City, Philippines. (02) 369-865. Plmar_registar@yahoo.com
DECEMBER 29, 2014
LOLITA P. HERNANDEZ
Librarian, PLMAr
Dear Maam
We have the honor to request from your good office to please accommodate us, Bachelor
of Science in Business Administration Major in Financial Management,3rd year, Section
301, and avail us the necessary referral letter for the following libraries:
1
2
3

University of the Philippines- Diliman,Quezon City

Ateneo De Manila University- Katipunan, Quezon City
Philippine School of Business Administration Katipunan, Quezon City

56

Presently we are working on our research entitled, Relationship of the State

of Financial Inclusion and the Perceived Quality of Life which is a
requirement for the subject FMPS5 Financial Management w/ Research.
Thank you for extending your help to us.
1 Alano, Mary Ann M.
2 Antonio, Ghillan Khaye
3 Lopez Ferlyn Ann G.
4 Penilla, Jesan Marie T.
5 Rafol, Efreil Rose
Respectfully yours,
Guirindola, Ma. Andrea A.
Group Leader
Approved by:
Prof. Arvin Villodres
Thesis Adviser
Direction: Below are numbers of questions regarding the Relationship of the State of
Financial Inclusion and the Perceived Quality of Life. Please read each questions and
indicate the suitable answer for you.
(Panuto: Nasa ibaba ang mga katanungang tungkol sa Relationship of the State of
Financial Inclusion and the Perceived Quality of Life. Pakibasa ang mga sumusunod na
katanungan at sagutan batay sa angkop na sagot para sa iyo).

I. RESPONDENTS DEMOGRAPHIC PROFILE

Age

Gender

1.Below 20 years old

1.Male 2.Female

2.Between 21 to 30 years old

Monthly Income

3.Between 31 to 40 years old

1.Below Php 5,000

4.Between 41 to 50 years old

2.Php 5,000- Php 10,000

5.Between 51 to 60 years old

3.Php 10,000- Php 20,000

6.61 years old and above

4.Php 20,000-Php 50,000 5. Php 50,000 -up

57

Employment Status
1.Employed

What Barangay you belong? (Pls. Specify)

2. Unemployed

Civil Status

Educational Background

1.Single 2.Married

3.Widow

District
1.District I.

2.District II

1.Elementary (a.Undergrad

b.Graduate)

2.High School (a.Undergrad

b.Graduate)

3.College

b.Graduate)

(a.Undergrad

II. FINANCIAL PRODUCTS AND SERVICES

1.What kind of financial products and services do you avail? (Anong klase ng produktong
pang pinansyal ang iyong ginagamit?)
A. Savings
B. Borrowing
C. Insurance
1 .Savings Account
1. Loan
3.Housing Loan
1. Life Insurance
2. Individual savings account
2. Credit Card 4. Business Loan
2. Health Insurance
If others, (Pls. Specify)
III. STATE OF FINANCIAL INCLUSION
1. Do you avail financial products or services from the bank? (Mayroon kabang produkto o
serbisyong pampinansyal?)
1.Yes
2.No
2. If yes, what are the reasons for opening a bank account? (Kung oo, anong rason ng
pagkuha o pagbubukas ng account?)
1. For saving money
2. To request a loan
3. If others, (please specify) ___________________________
3. If No, what are the reasons for not having bank account? (Kung hindi, anong rason ng
hindi pagkuha o pagbubukas ng account?
1. I have no money/little money to put in
2.Concerned that there may be too many charges
3.Tried to open but application was declined.
4. Not important to me
If others, (please specify) _____________________________
4. How frequent/often do you deposit money in your bank account? (Gaano ka kadalas

58

maghulog sa iyong account?)

1. At least once a month
2. Less than once a month
3. I put money when I can
4. If others, (please specify) __________________________
5. Reasons why do you borrow from the bank? (Rason kung bakit ka nangutang sa
bangko).
1. Low rate of interest
2. Was offered by the bank
3. It is easy
4. If others, (please specify) ___________________________
6. What would you do if you needed money in case of emergency? (Ano ang iyong gagawin
kung kinakailangan ng pera sa oras ng pangangailangan?
1. Ask family or friends
2. Take out loan from other sources
3. Sell something
4. Use my credit card
5. Draw on savings
7. Does having products or services offered by the bank help you to improve your life?
(Ang pagkakaroon ba ng produkto o serbisyo na inaalok ng banko ay nakatulong na
mapabuti ang iyong buhay?)
1. No
2. If yes, in what way? (please specify)
8. Level of interest from local financial services (Lebel ng interes sa lokal ng serbisyong
pampinansyal).
1-Very interested (Sobrang interasado); 2-Fairly interested (Medyo interesado);
3-Not very interested Hhindi gaanong interesado); 4-Not at all interested (Hindi talaga
interesado); 5-Not sure (Hindi sigurado):
1. Saving small amounts of money
2. Taking a business loan
3. Advice about managing debts
4. Advice on welfare benefits
5. More information about financial matters

12345
12345
12345
12345
12345

9. Level of importance from the following. (Lebel ng importansya sa mga sumusunod):

1-Very important (Sobrang mahalaga); 2-Fairly important (Medyo mahalaga);
3-Not very Important (Hindi gaanong mahalaga;) 4-Not at all important (Hindi talaga
mahalaga); 5- Not sure (Hindi sigurado):
1.Bank account

12345

59

2.Small personal loan

3.Credit card
4.Investment advice
5.Financial education

12345
12345
12345
12345

IV.QUALITY OF LIFE
1. Extremely; 2.Very much; 3. A moderate amount; 4.A little; 5. Not at all
1
1. How much do you enjoy life? (Gaano ka kasaya sa iyong
buhay?)
2. How safe do you feel in your daily life? (Gaano mo na
nararamdaman na ligtas ka sa araw-araw?)
3. Do you have enough money to meet your needs? (Mayroon ka
bang sapat nap era para sa iyong pangangailangan?)
4. Do you have the opportunity fo leisure activities? (Mayroon ka
bang pagkakataon para sa gawaing paglilibang?)
5. How healthy is your Physical Environment? (Gaano kasagana
ang iyong kapaligiran?)
6. How secured are you in the condition of your living place?
(Gaano ka kasigurado sa kondisyon ng iyong tinitirahan?)
7.Are you aware on whats happening in your community?
(Gaano mo kaalam ang mga nangyayari sa iyong komunidad?)
8.Do you contribute for the improvement in your community?
(Nakakatulong ka ba sa pagunlad ng iyong komunidad?)

61