THE SIGNIFICANCE OF FINANCIAL EDUCATION PROGRAMS ON BUDGETING HABITS OF ABM STUDENTS IN BESTLINK COLLEGE OF THE PHILIPPINES S.Y 2023-2024

Abstract

Budgeting habits significantly impact people's lives, especially students who need to develop financial management skills to control spending and save for emergencies. Financial education programs help students adopt sound budgeting practices by teaching them how to make informed purchase decisions, manage their finances wisely, and become responsible consumers. These programs also influence students' spending habits by emphasizing the importance of setting priorities and distinguishing between needs and wants. Understanding the impact of financial education programs on students' budgeting behaviors is crucial in helping them make informed decisions when purchasing goods and services. This study employed a descriptive survey research design to gather, analyze, and report data on the budgeting habits of ABM students. Purposive sampling was used to select the respondents. Data collection was conducted using Google Forms, which was distributed through private messages and group chats to ABM students at Bestlink College of the Philippines. The study found that 57% of the respondents were female, while 43% were male. In terms of age, 83% of respondents were 18 years old or younger, while 17% were 19 years old or older. Regarding grade level and section, 47% of respondents were from Grade 12, Section B, followed by 30% from Grade 11, Section A, and 23% from Grade 12, Section A. The study highlights the importance of financial education programs in equipping ABM students with the knowledge and skills needed to manage their finances effectively. These programs help students improve their budgeting habits, expense management, and financial literacy, enabling them to make better financial decisions in real-life situations. Additionally, the study examines the different budgeting strategies currently used by students.