THE IMPACT OF ONLINE SHOPPING ON THE ALLOWANCE MANAGEMENT OF GRADE 12 ACCOUNTANCY BUSINESS AND MANAGEMENT STUDENTS AT IMMACULADA CONCEPCION COLLEGE

Abstract

Online shopping has become increasingly prevalent among students, offering both conveniences and challenges in managing personal finances. This study focuses on the impact of online shopping on the allowance management of Grade 12 Accounting, Business, and Management (ABM) students at Immaculada Concepcion College. Understanding how these shopping behaviors influence students' financial planning skills is essential for developing strategies to enhance their financial literacy. Online shopping provides a convenient platform for students with busy schedules, allowing them to make purchases without the time investment required for traditional shopping. This convenience can lead to better time management and reduced stress. E-commerce platforms often offer competitive prices and discounts, which can help students maximize their limited allowances. By taking advantage of online deals, students may manage their finances more effectively. The ease of online shopping can lead to impulsive purchases, adversely affecting students' budgeting and saving habits. Studies have shown that impulsive buying behavior can deplete financial resources, leaving less available for essential expenses. Recommendations from friends or classmates can influence students to make unplanned purchases, further straining their financial resources. Peer pressure can lead to spending beyond one's means, impacting overall financial stability. Financial Education Programs: Implementing educational initiatives that focus on budgeting, saving, and responsible spending can equip students with the necessary skills to manage their finances effectively. These programs can provide practical tools and knowledge to navigate the complexities of personal finance. Teaching students to distinguish between needs and wants can promote more deliberate purchasing decisions. Mindful spending habits can prevent unnecessary expenditures and foster a culture of financial responsibility. Introducing students to budgeting apps and tools can aid in tracking expenses and managing allowances. These tools can provide real-time insights into spending patterns, helping students make informed financial decisions. By addressing both the advantages and potential pitfalls of online shopping, this study aims to provide a comprehensive understanding of its impact on students' financial management practices. Empowering students with financial literacy is crucial in fostering responsible consumption and ensuring their economic well-being. This quantitative study collected data from 171 Grade 12 Accounting, Business, and Management (ABM) students at Immaculada Concepcion College using a Google Forms survey. Participants were selected through simple random sampling across all seven sections. The survey focused on daily allowances, time spent on online shopping, and allowance management practices. Descriptive statistics were employed to analyze the data, providing insights into students' financial behaviors and the impact of online shopping on their allowance management. The findings reveal that a significant portion of students' daily allowances, ranging from ₱150 to ₱200, is influenced by online shopping. Notably, 62.2% of the respondents reported spending 59 minutes or less shopping online. Additionally, the average score for savings management was 3.46, indicating strong agreement among students regarding the importance of saving. The average score for recording expenses was 3.22, suggesting that students generally recognize the need to track their spending. The null hypothesis, which stated that online shopping does not affect allowance management, was rejected, confirming that online shopping does indeed influence how students manage their allowances. The study concludes that online shopping significantly affects the allowance management of Grade 12 ABM students. Effective financial planning and allowance management are crucial for preventing overspending. Students should be encouraged to track their expenses and keep detailed records to improve their financial management. Future research should investigate the impact of online shopping on allowance management across various student groups to create comprehensive financial literacy programs.