RELATIONSHIP BETWEEN BUDGETING SKILLS AND FINANCIAL STATUS OF GRADE 12 HOME ECONOMIC STUDENTS IN IMMACULADA CONCEPCION COLLEGE

Abstract

The concept of budgeting skills is the ability to plan, manage, save money, and set aside the money for important needs, and to identify any area that may need to adjust the spending. Financial status pertains to a person's overall financial well-being, including their income, investments, and life insurance. An individual with a stable income, financial investments, and insurance coverage is considered to be in good financial standing. Budgeting skills play a crucial role in the budgeting of every student. Therefore, analyzing their relationship with students' financial status is essential to understanding how they can effectively manage their finances without compromising their financial stability. A recent study identified a correlation between budgeting skills and the financial status of Grade 12 Home Economics students at Immaculada Concepcion College (ICC). This study examines the relationship between budgeting skills and financial status of Grade 12 Home Economics Students at Immaculada Concepcion College. The study used a quantitative method, it is a non-experimental research designed to start the relationship between budgeting skills and the financial status. To successfully analyze the data, the researchers used survey questionnaires, T-tests, and Pearson Correlation Coefficient. The study revealed that there is no significant relationship between budgeting skills and the financial status of Grade 12 Home Economics students at Immaculada Concepcion College. Using Pearson’s R, the researchers found a correlation value of 0.032, which is interpreted as a very low positive correlation, and a p-value of 0.723, indicating no significant connection between budgeting skills and financial status. These findings suggest that most HE students at Immaculada Concepcion College perceive no direct relationship between their budgeting skills and financial status. It is revealed that there is no relationship between budgeting skills and financial status. The result of this study will serve as a convenient reference for future researchers.