Effectiveness of Using Budget Planner in Improving Allowance Management of Grade 12 ABM Students in Bestlink College of the Philippines, S.Y. 2019–2020: An Assessment
Keywords:effectiveness, budget planner, allowance management
This study focuses on how students will enhance their allowances by using a budget planner. One of the most common problems of Grade 12 Accountancy, Business, and Management (ABM)Strand students is not having a budget and proper management of their allowances; they are impulsive buyers. The students do not understand the differences in their needs over wants, thereby resulting in poor budgeting. We conducted this study to teach Grade 12 ABM students to manage their expenses in school and their homes well for unexpected expenses. Following a budget planner can help the students to stop worrying about their expenses such as food, transportation, and other school expenses. The purpose of this study is to motivate Grade 12 ABM students to allocate their allowances the right way and share them with the next generation. This study used the survey method to gather the needed information. The researchers also used a descriptive research design. The respondents of the study were 50 Grade 12 ABM Students that were selected through convenience sampling. Based on the result of the study, using a weekly budget planner positively affected the budget management of Grade 12 ABM students in terms of (1) food allowances (60% of their allowances were allocated to food and uncontrolled buying of food that is not according to their budget), (2) transportation allowances (20% of their allowances goes to school practices and riding expensive public vehicles), and (3) other school expenses (the mismanagement of allowances resulted in budget shortage). Based on the summary of the findings, the following recommendations were made by the researchers on how Grade 12 ABM students should allocate their allowances in terms of (1) food allowances (control what food they will buy), (2) transportation allowances (this study suggests to apply budget planner to have allowances on unexpected practices, and (3) other school expenses (the students are suggested to apply budget planner to avoid unexpected expenses).