THE FINANCIAL PROBLEM PERCEIVED BY THE SELECTED GRADE-12 SENIOR HIGH SCHOOL STUDENTS OF GENERAL DE JESUS COLLEGE AND ITS EFFECT ON THEIR ACADEMIC PERFORMANCE

Abstract

Money refers to any item or method of exchange accepted as payment for goods and services, including loan repayments, and plays a crucial role in personal finance management. It is considered one of the basic necessities that supports daily living. However, due to limited opportunities and difficulties in acquiring and managing financial resources, many individuals experience financial problems that lead to stress and negatively affect various aspects of life. Understanding personal finance is therefore essential. Smith (2023) emphasized that addressing financial problems directly can reduce stress and help individuals regain control over their finances and overall well-being. In this context, the researchers conducted this study to determine the financial problems perceived by selected Grade 12 Senior High School students of General De Jesus College and examine their effects on academic performance. This study employed a qualitative research design using a phenomenological approach to gain in-depth understanding of the financial problems perceived by selected Grade 12 Senior High School students and their effects on academic performance. Participants were selected through purposive and quota sampling techniques. Data were systematically collected from ten (10) chosen participants using semi-structured interviews supported by audio recordings and note-taking. The findings revealed that the selected Grade 12 Senior High School students of General De Jesus College experienced financial problems primarily due to costly bills, inadequate budgeting, and reliance on a single source of parental support. The study further found that these financial problems had various effects on students’ academic performance, including delayed submission of academic requirements and increased absenteeism. Additionally, financial difficulties led to academic stress and distractions. To cope with these challenges, participants reported strategies such as talking to friends and family, saving money, maintaining positive thinking, and seeking part-time employment. The results indicate that selected Grade 12 Senior High School students experience financial problems mainly due to high household expenses and insufficient budgeting. These financial difficulties adversely affect their academic performance. The findings highlight the importance of coping mechanisms such as seeking social support, saving, practicing positive thinking, and engaging in part-time work. Moreover, the study underscores the need to promote financial literacy among students to help them manage their finances more effectively and minimize the impact of financial stress on academic outcomes.