Proper Budgeting of Selected Grade 12 ABM Students: Basis for proposed Guidelines in Handling Allowance

Abstract

Money is involved in many things and situations around the world. Every person had experienced, at least once, to see and to hold money, so it is a big part of everyone's life. In the form of a metal coin or a piece of paper, people value this thing to sustain their everyday needs like food, water, and clothes. Being students, their allowance should be budgeted and allocated well based on the amount of their allowance every day they go to school, particularly for those students who have allowances ranging from 100php and above. This research aimed to know if the selected grade 12 ABM students of Bestlink College of the Philippines know the ways and guidelines to manage their allowance well and also to help them if they do not. The researchers used Descriptive design to know if the selected ABM grade 12 student know how to handle their allowance based on the amount of their money. The researchers use Convenience Sampling wherein the selection of the sample is based on ease of accessibility. The instrument used is a questionnaire. Most of the selected ABM grade 12 students have 100-199php allowances. Selected ABM grade 12 students can somehow properly follow the ways of handling and budgeting allowance in terms of food, transportation, and school works based on the results of the data gathered in the survey. Researchers found out that most of the selected ABM grade 12 students have an allowance of 100php-199php with 31 respondents, followed by students who have a 200-299PhP allowance with 13 respondents, and lastly, the students with 300PhP and above allowance with 6 respondents for a total of 50 respondents. In terms of handling allowance, respondents show that they strongly agree that they can budget their allowance well based on the result and presentation of data gathered from the questions in variable 2 in the survey questionnaire. There is only one question from the 2ndvariable indicator, question number 3, which states bringing own food to save money, resulting to agree as verbal interpretation. As a whole, the researchers' most proposed guidelines for the respondents is the 50/30/20 rule that was also discussed and tackled in foreign-related literature. It advises the allocation of your allowance to 50% for needs, 30% for wants, and 20% for savings.