Financial Status of The Grade 11 ABM-B Family: A Survey

Abstract

INTRODUCTION

This study focused in determining the financial status of Grade 11 ABM-B S.Y. 2018 -2019. A financial status is mainly affected by a person or family's income, and it also includes other elements, such as assets, savings, property, number of dependents, and pension or pension's arrangements. The researcher conducted this research to know how every family of Grade 11 ABM-B managed their finances for their daily needs and how they overcome problems that arise. in this study, the researcher was able to propose solutions that can help every family of Grade 11 ABM-B in terms of finances.

METHODS

This study used descriptive-survey method in gathering data. Participants answered question through a survey questionnaire which was facilitated by the researcher. Data gathered were triangulated, analyzed and interpreted using simple statistical treatment such as frequency count, percentage, weighted mean and rank. Simple focus group discussion was also conducted.

RESULTS

In this study, results have shown that most of the parents/ guardians of the Grade 11 ABM-B spend their money wisely and that their family income is enough for their expenses. Also, these parents/guardians stated that the advantage of saving money is it can help them to become financially secure like in case of emergency, they can provide for it. Lastly, most parents/guardians proposed that they should be taught of how to budget their money wisely.

DISCUSSIONS

The parents of the Grade 11 ABM-B should attend seminars and training on how to effectively control their cash and finances for them to be financially literate. One benefit of being financially literate is you will know how to invest your money and by that, you can save something for educational and retirement.