Family Involvement and Saving and Spending Behaviours as Predictors to Financial Literacy of Senior High School Students: A Quantitative Investigation

Jett Xyrich G Rosit, Derek Ham A Bancal, Kristal Era M Baraquil, Rea Mea R Bongabong, Jeanna Shandy M Fernandez, Gretchen Mae T Mamales, Edwin Ortillano, Myrna S Sabillano, Stephanie G Torregoza, Shaira Lyn G Undalayan, Krystal Joy M. Clamares and Anna Marie O. Pelandas
Additional contact information
Jett Xyrich G Rosit: Department of Education, Senior High School Students, Philippines
Derek Ham A Bancal: Department of Education, Senior High School Students, Philippines
Kristal Era M Baraquil: Department of Education, Senior High School Students, Philippines
Rea Mea R Bongabong: Department of Education, Senior High School Students, Philippines
Jeanna Shandy M Fernandez: Department of Education, Senior High School Students, Philippines
Gretchen Mae T Mamales: Department of Education, Senior High School Students, Philippines
Edwin Ortillano: Department of Education, Senior High School Students, Philippines
Myrna S Sabillano: Department of Education, Senior High School Students, Philippines
Stephanie G Torregoza: Department of Education, Senior High School Students, Philippines
Shaira Lyn G Undalayan: Department of Education, Senior High School Students, Philippines
Krystal Joy M. Clamares: Department of Education, Senior High School Teachers, Division of Davao de Oro, Philippines
Anna Marie O. Pelandas: Department of Education, Senior High School Teachers, Division of Davao de Oro, Philippines

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 4, 2430-2440

Abstract: This study dealt with family involvement and saving and spending behaviours as predictors to financial literacy among Senior High School students. The primary goal of the study was used to determine the level of family involvement, saving and spending behaviours, and financial literacy in terms of their respective indicators. Also, this study utilized a quantitative-correlational design with 221 respondents among Senior High School students. The average weighted mean, Pearson’s r, and multiple regression analysis were the statistical tools used in this study. Furthermore, multiple regression analysis was used to determine what domains of family involvement and saving and spending behaviours substantially influence financial literacy. Along with this, results showed a high level of family involvement among Senior High School students in terms of family support, family conflict, and family togetherness. On the other hand, the results also showed a high level of saving and spending behaviours among Senior High School students regarding saving, indifference to money, and spending. Likewise, results showed a high level of financial literacy among Senior High School students regarding saving behaviour, shopping behaviour, long-term planning, and short-term planning. In addition, there was a low correlation and a significant relationship between family involvement and financial literacy. Furthermore, there was a low correlation and a significant relationship between saving and spending behaviours and financial literacy. Hence, this led to the rejection of the null hypothesis. Family support and family conflict as domains of family involvement have a significant influence to financial literacy hence this led to the rejection of the null hypothesis. On the other hand, family togetherness as a domain of family involvement does not influence financial literacy. Additionally, saving and spending as domains of saving and spending behaviours have a significant influence to financial literacy hence, this led to the rejection of the null hypothesis. In contrast, indifference to money as a domain of spending and behaviours had no significant influence to financial literacy. In conclusion, this study would motivate educators and parents to configure the aspect of family involvement and spending and behaviours to improve the financial literacy among students.

Date: 2024
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