A DESCRIPTIVE RESEARCH ON ALLOWANCE AND BUDGET OF

GRADE 12 STUDENTS OF SANTA BARBARA NATIONAL COMPREHENSIVE HIGH

SCHOOL

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 CHAPTER 1
Introduction

Money has a vital role in anyone’s life. It is the medium used for exchange, unit of account and
store of value (dictionary.com). It can also stop the sufferings that come with poverty like cold and
hunger, give satisfaction, provide education and even power. Without it, one cannot buy anything
he needs and wants. In fact according to Ayn Rand, money is the source of survival. She explains
in her book Atlas Shrugged that the source of a person's livelihood is the verdict he pronounces in
his life.

As prices of commodities become higher, money has gained more value today. Additionally, there
are only few materials left that cannot be bought by money. This is why it is very important to
spend it wisely. Still, using money doesn't end from spending, it is also very essential to save
wealth for future use and plans.
Money is a fundamental and indispensible tool to live in a materialistic world. Only a wise person
truly knows the value of it. Businessmen are people who use their money only when it is necessary.
However, they also know when to invest a lot of money unto something they know will be useful
in the future. In fact, all people in different fields have their own ways to spend and save their
money.
Students on the other hand, learn to save their allowance as they grow and meet different
requirements in school as well as things they want to buy for their own. Budgeting is one of the
practical skills that come in useful for them. It helps them to attain a better understanding of
financial matters that would become handful in their future.
However, with escalating responsibilities and opportunities as they go towards higher level of
education, particularly in college, it becomes very challenging for students to manage their
money. Tuition, textbooks and transportation are not the only things they need to worry about,
there are the housing, food and supplies together with socializing. With their young age and lack
of experience, it might be hard for college students to budget their allowance on their own. In
fact according to a research of Westwood College in U.S., most college students spend the least

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of their allowance in transportation, books and supplies but spends 40% on discretionary activities-
entertainment, apparel and services, travel and vacation.
Additionally, expenses of college students also depend on their chosen course. Fine Arts students
particularly, are expected to spend a lot of money for the expensive materials they use on their
subjects. Recognizing this, the study therefore aims to know how Fine Arts students budget their
allowance. The researchers decided to survey second year College of Fine Arts and Design
students in University of Santo Tomas.
The significance in the discovery of how much a student from different faculties of UST's College
of Fine Arts and Design spends per week would let us understand what kind of lifestyle majority
has and possibly discover whether he or she is enrolled on his/her designed course. upon the
information, the researchers will be able to determine the same qualities or habits that each has
and the traits that will create the contrast between the 4 courses/faculties in the Fine Arts
Department.

Objectives:

The researchers seek to describe how much allowance are given to CFAD students in general,
where they spend their allowance and how at the same time they budget it. This will illustrate the
attributes of the students towards financial matters. The study also aims to benefit Fine Arts
students, parents and the CFAD department upon the information gathered on the end of the study.

Statement of the Problem:

This study is aimed to find out how much the 2nd year College of Fine Arts and Design Students
of the University of Santo Tomas spend weekly by conducting a survey specifically to address to
the 2nd year CFAD students during the school year 2007-2008.

Especially, the study sought to answer the following questions:

1. Is there any difference of how much a CFAD student spends depending on their course?
2. Is there any significance on knowing how much a CFAD student spend?

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 3. Is there significance on how the students allocate their budget?

Importance of the study:

The study deals with the everyday allowance of CFAD students. It seeks answers as to how and
where the respondents spend their money every day. Considering that money is an essential
commodity that helps a person to run his or her life, this study is significant for it will benefit the
Fine Arts students, their parents and the CFAD department.

 Fine Arts students:

This study is beneficial for fine arts students to appraise their practice of spending
money. First, this will inform them where students like them generally spend their
money with. Upon this information, this study can enlighten them on how to use
their allowance wisely.
 Parents:
This study can benefit the parents by providing insights and information about the
allowance they give to their children and how and where they generally use it. This
study can inform them as to how much allowance is accurate for their children to
use it for their needs in their chosen course.
 CFAD department:
This study seeks to inform and enlighten the department on how the requirements
of the course affect the fine arts students spend their allowance. This can enlighten
them to be more considerate and sensitive towards the students' needs and concerns.
Furthermore, this study can give the department a deeper understanding on how to
respond with these concerns.

Scope and Delimitation

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This research study was limited and conducted only at the University of Santo Tomas College of
Fine Arts And Design during the second semester of the school year 2011-2012.
The respondents of the study are second year CFAD students from 16-19 years of age. The
researchers have planned to survey 160 students on all CFAD course namely Advertising, Painting,
Industrial Design, and Interior Design. The method the researchers will use in collecting
information will be through survey. This is used to evaluate and estimate the amount of money
Fine Arts students spend every week and what they spend their money on.

Definition of Terms:

The following terms are defined conceptually/operationally for the better understanding of the
study:

1. Allowance- it refers to the money given to Fine Arts students that shall be used for their
daily needs and expenses; it is given by their parents or guardian
2. Budget- it refers to the financial plan and list of all planned expenses and revenues made
by the Fine arts students in response to their daily and monthly expenses
3. Money- refers to the medium used for exchange, unit of account and store of value
4. CFAD- serves as College of Fine Arts and Design; the chosen target of the study
5. UST- serves as University of Santo Tomas, the Catholic University of the Philippines
6. Fine Arts- field of study that teaches aesthetics and practical application of arts
7. Bachelor in Fine Arts major in Advertising Arts –academic program of UST-CFAD
that offers an overview and application of advertising principles introducing concepts of
advertising, research, artistic, creative, and psychological aspects to advertising and sales
promotional activities.
8. Bachelor in Fine Arts major in Industrial Design –academic program of UST-CFAD
that indicates on the students that the fusion of art and technology are essential components
in bringing creative ideas into reality

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9. Bachelor of Science in Interior Design – academic program of UST-CFAD that
focuses on studio and academic research in history, theory and methods as they relate to
interdisciplinary approach to interior design

10. Bachelor in Fine Arts major in Painting – academic program of UST-CFAD that
both encourages and challenges students to comprehend past and present examples of
painting and to incorporate that understanding into actual practice

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 CHAPTER 3
Methodology

The purpose of the study is to determine the allowance and the use of money management
practices of Fine Arts students in University of Santo Tomas. The objectives of this chapter is to
(1) describe the research methodology of this study. (2) explain the sample selection and (3)
describe the procedure used in designing the instrument and collecting data.

I. Research Design
A. Research Method
In order to gather the necessary data, the researchers used descriptive method. It includes
techniques that are used to summarize and describe numerical data for the purpose of easier
interpretation (Kazmier, 2004).

A survey was administered to 200 randomly selected students from the University of Santo
Tomas College of Fine Arts and Design. A survey is a non experimental, descriptive research
method (University of Texas). It is an important tool for collecting and analyzing information from
selected individuals. It is widely accepted as a key tool for conducting and applying basic social
science research methodology (Babbie, 1997). Thus, it can be useful when a researcher wants to
collect data on a phenomenon that cannot be directly observed.

B. Research Instrument
The researchers designed a questionnaire survey instrument to assess the money
management practices of UST-CFAD students. According to Paul Kenyon (2000), there are
distinct advantages in using a survey-questionnaire. Compared to other methods, questionnaires
yield a broader range of information. It is usually faster and cheaper than interviews and direct
observations. It is also important to note that questionnaires provide reliable data that are simpler
to administer, analyze, quote and interrelate. The researchers, therefore, opted to use this kind of

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instrument considering the desire to obtain first hand data from the respondents so as to formulate
rational and sound conclusions and recommendations for the study.
The group have provided a series of question corresponding to the research and to
determine each individual’s lifestyle according to their expenditures.

II. Sampling Design and Respondents

A. Sampling Design
The researchers designed a survey-questionnaire aimed to know the management practices
of UST-CFAD students. It was designed to know how much the allowance of the respondents is
in general, how and where they spend it to and how they budget it. These questions will then
illustrate the attributes of the students towards financial matters and point out the differences of
students respective to their chosen course and financial knowledge and practices.
Below is the sample questionnaire:

Allowance and Budget of College of Fine Arts and Design Students

Instructions: Check your respective answers in each question.

Gender: _F_M
Course Program:
__ Advertising __Interior Design
__ Painting __ Industrial Design

1. How much is your daily allowance?

__ 100-200
__ 200-300
__ 300-500
__500 above
2. Do you have a part time job/sideline?
__Yes __No

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 If yes, do you get your allowance in your salary? __Yes __No
3. Do you live in a dorm/apartment?
__Yes __No

4. If no, how much money do you spend for your transportation every day?
__ PHP 10.00 to PHP 50.00
__ PHP 50.00 to PHP 90.00
__ PHP 90.00 to PHP 150.00
__PHP 150 to PHP 200

5. How much money do you spend for your food every day?
__PHP40-60
__PHP60-100
__PHP100-150
__ PHP 150-200
6. Do you bring packed Lunch in school?
__Yes __No
If yes, how much money can you usually save? php____
7. How much money do you usually spend on your projects/plates?
__50-150
__150-200
__200-350
__350-500
8. What do you usually do on long hours of break time?
__computer __hang outs
__sports __food trip __go home/ dorm
9. How much money do you spend for your leisure time?
__none
__50-100
__100-150

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 __150-200
__200 and more
10. Where do you think does most of your allowance go to?
__food
__art materials (paint, papers, boards, etc.)
__ printing (for research papers, plate references, etc.)
__ transportation
__ entertainment/ recreation (computer shops, cell phone load, ‘gala’, etc.)

11. Rank your priority when it comes to spending in the following: (*1 as the highest and 5
as lowest)
__ food
__ art materials (paint, papers, boards, etc.)
__printing (for research papers, plate references, etc.)
__ transportation
__ entertainment/ recreation (computer shops, cell phone load, ‘gala’, etc.)

12. Do you make/ write a budget plan?

__Yes: __Always __Often __Sometimes
__No, Never

13. If so, do you follow it (budget plan)?

__Yes: __Always
__Often
__Sometimes
__No, Never

14. Do you always try to save money?

__Always
__Often
__Sometimes

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 __ Never

15. If so, how much can you usually save?

__PHP 10.00 - PHP 50.00
__ PHP 50.00 - PHP 100.00
__PHP 100.00 - PHP 200.00
__PHP 200 Above

B. Research Respondents
The participants for this study were 200 enrolled second year students in the University of
Santo Tomas College of Fine Arts and Design for the second semester of the school year 2011-
2012 only. The college is divided into four course namely Advertising Arts, Industrial Design,
Interior design and Painting. The researchers have therefore randomly chosen 50 students in each
course to conduct the survey unto.

III. Research Procedure

A. Data Collection
The researchers conducted the survey through posting the questionnaire on a survey
website and tagging it to 200 second year students of UST-CFAD. Recipients were asked to
complete the survey and were reminded of accomplishing the questionnaire from time to time.
After collecting the complete sample data, the researchers will then assess, interrelate and analyze
the significant differences of data gathered.

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 CHAPTER 5
Summary of Findings, Conclusions, and Recommendations

This chapter presents the summary of the findings, conclusions from the research, and also
recommendations for future researchers of this topic.
This study was taken at the University of Santo Tomas particularly with the College of Fine Arts and
Design students pertaining to the topic about how do students budget their daily allowance.
In this chapter, the following questions will be answered: (both from students who stays in a dorm and
ones who go home)
 In the College of Fine Arts and Design, from what course has the students who are spending
a lot?
 How do students from the College budget their daily expenses?
 What are their priorities in spending?

Summary of Findings

1. A. The average daily allowance of CFAD Students respective to their courses

 Advertising arts: Php264.85
 Painting: Php215.38
 Industrial Design: 237.5
 Interior Design is 266.67
Based on their respective courses, the Interior Design students were found to have the highest
average of daily allowance.
B. Daily Allowance of all CFAD students
 The Daily allowance of the majority of students has the amount ranging from Php 200-
299 or a percentage of 37%.
2. The average amount of allowance spent on transportation
 Based on the research gathered, the researchers found out that out of the total
population of the students who took the survey, almost 55% lives in the dormitory
and the remaining 45% goes home every single day. In addition to the students going

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 home every day, majority of the students answered that they spend Php 10.00-50.00
daily.
3. Amount of Money Spent in Food
 It was found that the majority of 47% spends php40-60 in their food while minority
only spends Php. 150-200.
4. Amount of Money Spent on Materials for Projects and Plates
 It was found that the majority of the overall amount of money CFAD students spends
for their plates and projects ranges from Php 250-350, and the rest only spends 50-
150
5. Majority of Amount of Money spent in Leisure Time
 It was found that a majority of 41% students spends their daily allowance on their
leisure time with amount ranging from Php 50-100.
6. Top Most Priority of CFAD Students when it Comes to Spending
 From the Painting department, female students answered that their priority is food,
next are art materials, and lastly, transportation. Same to the male students, they
answered as their top priority is art materials, then food, and lastly, transportation.
For both, transportation is the least priority from the top 3. The remaining priorities
which are entertainment, and printing are seldom their real priority.
 Same with the Advertising department, the student’s top priorities are food,
entertainment, and transportation. For the female students, their priorities are
arranged starting from food, to art materials, to transportation. On the other hand, the
male students said that food is also their top priority, to art materials, to transportation,
to printing, and finally, to entertainment. Clearly that Advertising male and female
has the same priorities.
 In the Industrial Design department, both male and female’s only priorities are only
art materials and food. For female, their first are art materials, and second food. The
male’s answer are vice versa to what the females answered.
 Lastly, from Interior Design department, the females answered that their top priorities
are art materials, food, transportation, and printing. The male students answered that
their priorities are only food, and art materials.
7.Budget Plan

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  Female and male students were intentionally counted separate to observe and to
know if there is a difference. But both majority of male and female was found that
they make a budget plan every day. The difference was majority 56% of male said
yes and a majority of 57% in females. There is only little difference in terms of
majority.
 Both female and male students follow their budget plan and also there is little
difference between the majorities that said yes. Almost all of the students (97%)
was found that they save money every day and only very little (3%) said no.
 Amount of Savings of CFAD students:
Majority of students (38%) was found that they can save money ranging from
php10-50. Followed by 23% of students who can save amount ranging from
Php50-90. Minority of the students saves php90-130 from their allowance

Conclusions
Based on the findings derived from this study, the following conclusions
were drawn:
1. Findings showed that based on their respective courses, the Interior Design students
were found to have the highest average of daily allowance, second is Advertising Arts,
followed by Industrial Design, and Painting as last.
2. The courses correspond on their allowances, since the findings shows the difference on
their allowances based on their courses. It can be derived that the Interior Design
students has the highest expenditures among all CFAD students. The average amount
of all the CFAD students ranges from Php200-299. Most of their allowance go to food,
transportation and art materials.
3. More than half of the CFAD students live in a dorm or apartment therefore making a
big difference on their transportation expenses.
4. CFAD students who go home everyday spends a lot of money for transportation and
majority of 44% spends Php10-50 a day and minority spends Php150-100 a day. The
expenses on transportation is quite big. That is probably one of the factors why more
than half of the students prefer to live in dorms.
5. Most CFAD students spend Php40-60 on their food and minority spends Php150-200.

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6. Art materials takes up a lot of share in the students' allowances, since findings show
that the majority of students spend Php250-350 and the rest Php50-150, if the average
allowance ranges from Php200-299, it can be concluded that it is not on a daily basis
that they spend this big on art materials.
7. CFAD students prioritizes their school needs and requirements since they recognize
food and art materials as their priority instead of entertainment.
8. CFAD students differ in their ranking of priorities based on their course and gender.
9. Almost all CFAD students are responsible enough to try to save money and create a
budget plan, and tend to follow it. Both female and male students understand that
saving money is important.

Generally, After gathering the research, the researchers have concluded students from the
College of Fine Arts and Design spends a lot based on the data and on which priority they
are following. The researchers also concluded that the Interior Design department is the
course with students spending big amount of money on their priorities which is either food
or art materials. All in all, female students spend great amount of money on food and art
materials while on the other hand, male students has different kind of priorities.

Recommendations
The following recommendations are offered based on the findings and conclusion of the
study:
1. Students should maintain their priorities in spending so that it won’t be a problem if
they are cut short on their budget.
2. Parents must be aware of the spending habits of their children and where most of their
allowance goes to in order to help them prepare for an independent future.
3. Both parents and students should understand the importance of saving and must try to
take the means of saving money like settling in a dorm, to save expensive transportation
expenses and time.
4. The University especially the college departments should perform studies related to the
study conducted to further evaluate student issues and therefore make adjustments for
the benefit of all students.

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 REFERENCES

Chapter 1
Money.(n.d.). Retrieved from http://dictionary.reference.com/browse/money on Dec 2011.
Rand A.(2010). Money-The color of money. Retrieved from
http://www.lifepositive.com/mind/money/money-value.asp on Dec. 2011.
Student Budget. (2009). Retrieved from http://www.westwood.edu/resources/student-budget/ on
Dec 2011.
University of Santo Tomas- Fine Arts and Design. (n.d.). Retrieved from
http://en.wikipedia.org/wiki/University_of_Santo_Tomas_College_of_Fine_Arts_and_D
esign

Chapter 2
Bartolome, M. (2011). Maximizing your Means. Stretching your weekly/monthly allowance.
Retrieved from http://www.edgewise.ph/2011/09/14/003-you-2-0/maximizing-your-
means-stretching-your-weeklymonthly-college-allowance/
Bowen, C. F., & Lago, D. J. (1997). Money management in families: A review of the literature
with a racial, ethnic, and limited income perspective. Advancing the Consumer Interest.
[Online], 9 (2), p32, 11p. Available: www.ehostvgw8.epnet.com [2000, February 25].
Budgeting tips for college students.(2010) In lending tree.retrieved from
http://www.lendingtree.com/smartborrower/students/managing-your-money/budgeting-
for-college-students/
Chen, H., & Volpe, R. P. (1998). An analysis of personal financial literacy among college students.
Financial Services Review [Online], 7 (2), p107, 22p. Available:
www.ehostvgw.8epnet.com [2000, February 10].

How to Save Money as a College Student in the Philippines. (2011) Retrieved from
http://businesstips.ph/how-to-save-money-as-a-college-student-in-the-philippines/
Gordon, Larry. 14 July 2010. “Financial Anxieties Burden More Freshmen, Study Finds.” Los
Angeles Times, p. 5.

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Micomonaco Justin P. 23 April 2003. “Borrowing Against the Future: Practices, attitudes and
knowledge of financial management among college students,” Virginia Polytechnic
Institute and State University.
Norvilitis, J. M., Merwin, M. M., Osberg, T. M., Roehling, P. V., Young, P., & Kamas, M. M.
(2006). Personality factors, money attitudes, financial knowledge and credit card debt in
college students. Journal of Applied Social Psychology, 36, 1395-1413.
Stollak, M., Vandenberg, A., Steiner, K., Richards, J.,(2011)Student budgeting and spending
behaviors: a comparative study. retreived from
http://www.aabri.com/manuscripts/10670.pdf
Youth and money survey. (1999). American Savings Education Council [Online], 16p. Available:
www.asec.org [2000, April 14].

Chapter 3
Babbie, Earl R. Survey Research Methods. Belmont, CA: Wadsworth Pub. Co., 1997.
Kazmier, L. (2004). Business Statistics. USA: Mcgraw Hills company.
Kenyon, Paul. (2000). How to Put Questionnaires on the Internet: Part 1. Internet WWW page, at
URL http://salmon.psy.plym.ac.uk/mscprm/Forms.htm
University of Texas - Survey. (n.d.) Retrieved fromhttp://www.ischool.utexas.edu/
~palmquis/courses/survey.html on Jan 2012.

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 APPENDICES

Allowance and Budget of College of Fine Arts and Design Students

Instructions: Check your respective answers in each question.

Gender: _F_M
Course Program:
__ Advertising __Interior Design
__ Painting __ Industrial Design

1. How much is your daily allowance?

__ 100-200
__ 200-300
__ 300-500
__500 above
2. Do you have a part time job/sideline?
__Yes __No
If yes, do you get your allowance in your salary? __Yes __No
3. Do you live in a dorm/apartment?
__Yes __No

4. If no, how much money do you spend for your transportation every day?

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 __ PHP 10.00 to PHP 50.00
__ PHP 50.00 to PHP 90.00
__ PHP 90.00 to PHP 150.00
__PHP 150 to PHP 200

5. How much money do you spend for your food every day?
__PHP40-60
__PHP60-100
__PHP100-150
__ PHP 150-200
6. Do you bring packed Lunch in school?
__Yes __No
If yes, how much money can you usually save? php____
7. How much money do you usually spend on your projects/plates?
__50-150
__150-200
__200-350
__350-500
8. What do you usually do on long hours of break time?
__computer __hang outs
__sports __food trip __go home/ dorm
9. How much money do you spend for your leisure time?
__none
__50-100
__100-150
__150-200
__200 and more
10. Where do you think does most of your allowance go to?
__food
__art materials (paint, papers, boards, etc.)
__ printing (for research papers, plate references, etc.)

20
 __ transportation
__ entertainment/ recreation (computer shops, cell phone load, ‘gala’, etc.)

11. Rank your priority when it comes to spending in the following: (*1 as the highest and 5
as lowest)
__ food
__ art materials (paint, papers, boards, etc.)
__printing (for research papers, plate references, etc.)
__ transportation
__ entertainment/ recreation (computer shops, cell phone load, ‘gala’, etc.)

12. Do you make/ write a budget plan?

__Yes: __Always __Often __Sometimes
__No, Never

13. If so, do you follow it (budget plan)?

__Yes: __Always
__Often
__Sometimes
__No, Never

14. Do you always try to save money?

__Always
__Often
__Sometimes
__ Never

15. If so, how much can you usually save?

__PHP 10.00 - PHP 50.00
__ PHP 50.00 - PHP 100.00

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__PHP 100.00 - PHP 200.00
__PHP 200 Above

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