i

CAPITOL UNIVERSITY
COLLEGE OF BUSINESS ADMINISTRATION

AN ASSESSMENT OF PERSONAL MONEY MANAGEMENT

AMONG COLLEGE BUSINESS STUDENTS OF
CAPITOL UNIVERSITY

A Research

Presented To
HEIDI GRACE P. MENDOZA, cpa.dbm
Faculty

In Partial Fulfillment
of the Requirements for the Course
Ed12 Research Methodology

By

BAL-OT, ROLLY P.
CAYETUNA, ADELO H.
MAAGAD, MARJUN GABRIEL
MERCADO, JESSIE MAR O.
SARAOS, CHERRY GRACE M.
VALLENTE, CHRISTINEANGELINE M.
March 2018
 ii

CERTIFICATE OF ORIGINALITY

This is to certify that I assume full responsibility over the work entitled AN

ASSESSMENT OF PERSONAL MONEY MANAGEMENT AMONG COLLEGE

BUSINESS STUDENTS OF CAPITOL UNIVERSITY submitted as a requirement for

the course Ed12 Research Methodology at the College of Business Administration of

Capitol University; that the work is our own, that this is original except as specified in

the acknowledgments, footnotes, or in the references and that this has never been

submitted to this or any other school for a degree or other requirements.

BAL-OT, ROLLY P.

CAYETUNA, ADELO H.

MAAGAD, MARJUN GABRIEL

MERCADO, JESSIE MAR O.

SARAOS, CHERRY GRACE M.

VALLENTE, CHRISTINEANGELINE M.

March 2018
 iii

APPROVAL SHEET

This RESEARCH entitled: AN ASSESSMENT OF PERSONAL MONEY

MANAGEMENT AMONG COLLEGE BUSINESS STUDENTS OF CAPITOL
UNIVERSITY prepared and submitted by Rolly P. Bal-ot, Adelo H. Cayetuna, Marjun
Gabriel Maagad, Jessie Mar O. Mercado, Cherry Grace M. Saraos and Christine
Angeline M. Vallente in partial fulfillment of the requirements for the course Ed12
Research Methodology, has been examined and is recommended for Oral
Examination.

HEIDI GRACE P. MENDOZA, DBM

Professor, Ed12 Research Methodology

PANEL OF EXAMINERS

Approved by the Committee on Oral Examination with a grade of ____.

ELIZABETH E. FIGUEROA, DM
Chair

LILIA P. DURALIZA, DM HEIDI GRACE P. MENDOZA, DBM

Member Member

Approved and accepted in partial fulfillment of the requirements for the course Ed12
Research Methodology.

ELIZABETH E. FIGUEROA, DM
Dean
College of Business Administration
 iv

ACKNOWLEDGMENTS

The researchers would like to extend our greatest gratitude to the following
persons who took part on the completion of this study.
First, a heartfelt gratitude and deep regards to Professor Ms. Heidi Grace P.
Mendoza for her exemplary guidance, feedbacks, patience and constant
encouragement throughout the making of this study.
To the authors of the books that were used on the research as basis and
reference to further develop the understanding and analysis on the study.
To the respondents who actively participated in answering the given
questionnaires with honesty.
To the researcher’s beloved family and friends for their untiring love and
support.
Lastly, to the Almighty God, for the strength to carry on despite of the
difficulties encountered and to His guidance as the researchers made this study
possible and successful.
Thank you very much!

-The Researchers
 v

DEDICATION

The researcher dedicated the study to their family who has been always there

in times of depression, frustration, challenges and problem. The researcher has

been thankful for their words of wisdom that walk by faith and everything will follows.

To God who guides them all the way of hardship and who inspired them that in this

world nothing is impossible and who always show his help in times of problems. To

their friends and classmates who highly respect, accept, trust and believe the

researchers ability.
 vi

ABSTRACT

The researcher decided to do this research be able to assess the personal

money management of business college students of Capitol University by looking
into their level of financial knowledge, level of financial attitude, and level of financial
behavior and practices according to their perceptions. The researcher disseminated
a set of questionnaire among 123 respondents in the College of Business
Administration that would test their financial knowledge and know their financial
attitude, behavior and practices.

The researcher found out that CU Business College Students do not possess
a high degree of financial knowledge, having 64 participants (52%) had low financial
knowledge and 54 participants (44%) had average financial knowledge. Only 1.63%
had a high score in financial knowledge and 2.44% got a low score. And if we look at
the results in their Level of Financial Attitude, Behavior and Practices (page 22-23) it
shows that participants have a very strong and strong level respectively. This may
imply that there is a difference of participant’s knowledge and their actual financial
management. Participants may not understand financial issues intellectually but not
necessarily behave in ways that reflect that lack of understanding. With regards to
the participant’s level of financial attitude according to their perception, overall,
participants have very strong level of financial attitude as reflected by the overall
mean of 3.34 with participants having a very strong financial attitude perception on
savings (3.79) and that having a savings plan is necessary (3.65). The result also
shows that participants give more importance in savings (item #6) rather than buying
things for their happiness (item #8). This may imply of participant’s thriftiness. With
regards to the level of financial behavior and practices according to their perception,
the result indicates that participants have a strong financial Behavior & Practices
perception as reflected by the overall mean of 2.53. It also shows that participants
have a strong financial Behavior & Practices in terms of comparing shopping prices
before making a purchase (2.89). The result indicates that participants have a strong
financial Behavior & Practices in saving money for emergency purposes (item #6)
but weak in the area of saving money in a financial institution (item #7). This may
imply that participants’ saved money was being kept at home or somewhere else.
Moreover, the result shows that participants have a strong level of Financial
Behavior & Practices in terms of following a weekly or monthly budget but they also
have a strong level in having a difficulty in managing their money. It may imply that
the budget plan they were following might be ineffective towards a successful
financial management.

Looking into the interrelatedness of the results, it indicates that a low financial
knowledge does not always imply a prudent financial behavior.

Keywords: financial knowledge, financial attitude, financial behavior and practices

 vii

TABLE OF CONTENTS

Pages

Title Page i

Certificate of Originality ii

Approval Sheet iii

Acknowledgments iv

Dedication v

Abstract vi

Table of Contents vii

List of Figures ix

List of Tables x

Chapter 1: Introduction

Introduction 1

Conceptual Framework

Statement of the Problem

Assumptions|Hypothesis [if any]

Significance of the Study

Scope and Limitation

Definition of Terms

Chapter 2: Review of Related Literature and Studies

[arranged by concept|variable, not by year of paper nor by type of paper]

[you may write your first concept title here]

[you may write your second concept title here]

 viii

Page

Chapter 3: Research Methodology

Research Design

Research Environment

Participants and Sampling Procedure

Data Gathering Instruments and Procedure

Validity and Reliability of Instruments

Scoring Guidelines and Data Quantification

Statistical Instrument and Procedure

Chapter 4: Presentation, Analysis, and Interpretation of Data

Problem 1

Problem 2

Problem 3 [add problems as applicable]

Chapter 5: Summary of Findings, Conclusion, and Recommendations

Summary of Findings

Conclusion

Recommendations

References

Appendices

A. Letter of Request to Conduct Research

B. Research Instrument [clean copy of the final survey questionnaire]

About the Authors [1-page resume only for each, lead author placed first]
 ix

LIST OF FIGURES

[arranged continuously as they appear in the paper]

[Figure 1, Figure 2]
 x

LIST OF TABLES

[arranged continuously as they appear in the paper]

[Table 1, Table 2]
 CERTIFICATE OF ORIGINALITY

This is to certify that we assume full responsibility over the work entitled
AN ASSESSMENT OF PERSONAL MONEY MANAGEMENT
AMONG COLLEGE BUSINESS STUDENTS
submitted as a requirement for the course Research Methodology
at the College of Business Administration of Capitol University;
that the work is our own, that this is original except as specified in the
acknowledgments, footnotes, or in the references and that this has never been
submitted to this
or any other school for a degree or other requirements.

BAL-OT, ROLLY P.

CAYETUNA, ADELO H.

MAAGAD, MARJUN GABRIEL

MACABECHA, DENNY L.

MERCADO, JESSIE MAR O.

SARAOS, CHERRY GRACE M.

VALLENTE, CHRISTINEANGELINE M.

March 2018
APPROVAL SHEET
 ACKNOWLEDGMENT

The researchers would like to extend our greatest gratitude to the following persons who
took part on the completion of this study.
First, a heartfelt gratitude and deep regards to Professor Ms. Heidi Grace P. Mendoza for
her exemplary guidance, feedbacks, patience and constant encouragement throughout the making
of this study.
To the authors of the books that were used on the research as basis and reference to
further develop the understanding and analysis on the study.
To the respondents who actively participated in answering the given questionnaires with
honesty.
To the researcher’s beloved family and friends for their untiring love and support.
Lastly, to the Almighty God, for the strength to carry on despite of the difficulties
encountered and to His guidance as the researchers made this study possible and successful.
Thank you very much!

-The Researchers
 DEDICATION

The researcher dedicated the study to their family who has been always there in times of

depression, frustration, challenges and problem. The researcher has been thankful for their words

of wisdom that walk by faith and everything will follows. To God who guides them all the way

of hardship and who inspired them that in this world nothing is impossible and who always show

his help in times of problems. To their friends and classmates who highly respect, accept, trust

and believe the researchers ability.

 ABSTRACT

The researcher decided to do this research is that to be able to know, what is the level of

Financial Knowledge, Financial Attitude and Financial Behavior of College Business Students in

Capitol University? Second is that, which has better financial practices base on groups among

College Business Students in Capitol University? The researcher conduct sets of questionnaire

among (123) respondents in the college business students in capitol university, the test for their

financial literacy, financial attitude and financial behavior and practices.

The researcher found out those Capitol university students is weak in financial behavior

and practices as reflected by the overall mean of 2.58. Result show that the participants often

follow a weekly or monthly budget, do comparison shopping (especially prices) and save money

for emergency purposes. This indicates that participants were somehow wise in terms of

handling their finances. Most of the participants responded that they somewhat practices in

borrowing money from family relatives, difficulty in managing their money and always paying

their living expense on time. This concerned where money is being spent. The researcher also

found out that in terms of financial attitude it is evident that participants agreed that written

financial goals helps them determine priorities in spending money and that a written is absolutely

essential. the result also shown that participants give more importance in saving (item #3) rather

than buying things for their happiness (item #6). Almost of the participants strongly agreed in

writing financial budget, savings and spending less than their allowance/income is important.

The researcher also found out in the financial knowledge that (52%) had low financial

knowledge and (44%) had average financial knowledge. Only 2.44% had a very low score in

financial knowledge and 1.63% got high score in financial knowledge. It implicates that Capitol

University Business College Students were struggling with their personal finance concepts.
 This implicate that Capitol University Business Student they know what is the important

of saving into their life, but engaging saving while studying in doesn’t give them priority to start.

This result help to determine the reason of their financial knowledge, practices and

behavior to which part of the factors were going to have progress, improvement in Capitol

University College of Business Student. It gives also significant to researcher and the readers to

determine their self how they manage their financial budget is they have this kind of behavior

and best practices? Now try to reflect by itself and have your conclusion to your decision and

recommendation to itself how will you manage your financial budget.

 TABLE OF CONTENTS

Page

Certificate of Originality i
Approval Sheet ii
Acknowledgments iii
Dedication iv
Abstract v
Table of Contents vi
List of Tables viii
List of Figures ix

Chapter 1
The Problem and Its Scope

Introduction 1
Conceptual Framework 3
Statement of the Problem 3
Objective of the Study 4
Scope and Limitation 4
Significance of the Study 4
Definition of Terms 5

Chapter 2
Review of Related Literature and Studies 6

Chapter 3
Research Methodology 12

Research Design 12
Research Locale 13
Sampling Design 14
Respondents of the Research 14
Instruments of the Study 15
Data Gathering Procedure 16
Scoring Procedure 16
Statistical Treatment 17

Chapter 4
Results and Interpretation of Data 18

Problem 1: What is the level of Financial Knowledge

of College Business Students in Capitol University? 23

Problem 2: According to their perception, what are the levels

 of Financial Attitude, Financial Behavior and Practices

of College Business Students in Capitol University? 23

Problem 3: Which has the higher financial knowledge base on

groups among College Business Students in Capitol University? 24

Problem 4: Which has better financial practices base on groups

among College Business Students in Capitol University? 25

Chapter 5
Summary, Conclusion and Recommendation
25

Summary 25

Conclusion 26

Recommendation
26

Appendices
Appendix A: Survey Questionnaire 27

Reference 27

Curriculum Vitae 29
 LIST OF FIGURES

Figure 1. Schematic Diagram of the Conceptual Framework

Figure 2. Location of Capitol University

LIST OF TABLES

Table 1. Distribution of the Respondents of the Study

Table 2. Representation of the questions in the questionnaire
Table 3. Scoring Procedure on Financial Knowledge
Table 4. Scoring Procedure on Financial Attitude according to the perceptions
of CU Business College Students
Table 5. Scoring Procedure on Financial Behavior and Practices according to the
perceptions of CU Business College Students
Table 6. Demographic Characteristics of Respondents
Table 7. Level of Financial Knowledge of CU Business College Students
Table 8. Level of Financial Attitude according to the perceptions of
CU Business College Students
Table 9. Level of Financial Behavior & Practices according to the perceptions of
CU Business College Students
Table 10. Comparison of the Financial Knowledge by Year Level
Table 11. Comparison of Financial Behavior & Practices by Year Level