Chapter II

REASEARCH METHODOLOGY

This study would determine the prevailing gap in the level of financial literacy

and would suggest possible measures to be undertaken to overcome it. Qualitative

research is conducted using a small scale of survey research, using methods like

questionnaires. In this research, the Gordon College Senior High School Grade 11

Students of Accountancy, Business and Management Block B are treated as target

students in order to complete this research.

Target Respondents

The main target students for this research of financial literacy are the ABM – B

students. This study is consisting of 10 respondents by administering structured depth

interviews in selected respondents. Out of the 10 participants of the study, 5 of them were

male and 5 of them were female.

Sampling Technique

In this research, the researchers used convenient sampling such as questionnaires

due to high accessibility for the research since the respondents are from Gordon College.

Plus, this technique is considered easiest, cheapest, and least time consuming. Interviews

were designed to sought out their general knowledge in financial literacy.

Sampling Size

The survey form was divided into four categories: 1) Socio-Economic Profile; 2)

Financial Attitude; 3) Financial Behavior; 4) Financial Knowledge, in order to retrieve

were collected.

RESEARCH QUESTIONS

The researchers find out to examine and observe the decision-making skills and

the level of financial literacy among the respondents and how it affects the behaviors and

its outcome. The researcher provided questions to further understand the state of being

financially literate that will enable the participants to have a concrete decision making

and understanding personal finances that includes in the relevance of the study.

RQ1. Is there a relationship between education and the level of financial literacy?

RQ2. Is there a big differences or similarities between gender in financial

literacy?

RQ3. Are young ABM -B students knowledgeable about common financial

terms?

RQ4. What are the determinants of financial literacy among ABM -B students?

RQ5. What are the attitudes of ABM -B students towards financial matters?

RQ6. What is the level of money management behavior of ABM -B students?

RQ7. What is the overall level of financial literacy among ABM -B students in

Gordon College Senior High School of Olongapo City?

This study will be conducted in Gordon College Senior High School Department

of Olongapo City. The period covered of this research is from December 2016 to March

2017.

RESEARCH POPULATION

The population of this study will mainly focus in Gordon College Senior High

School Grade 11 Students of Accountancy, Business and Management Block B.

Respondents will be given a survey forms to answer and complete the questionnaire that

was divided into four categories. The survey form takes approximately 5-10 minutes to

answer. Socio-Economic Profile of the respondents such as personal related factors like

gender and age is included to sum up relating to their demographical background.

Familiarity with the respondent is of limited to concern. There will be no interview

questions that interfere into specific organization that make the respondents unwilling or

uncomfortable about the participation. Students have the freewill to ask and allow them

to share their opinions with regards to the study. The researchers will seek to interview 5

male and 5 female students of ABM-B.

RESEARCH INSTRUMENT
 In accordance to the research, the researchers will conduct a case study within an

array of limited students of Gordon College Senior High School Grade 11 of

Accountancy, Business and Management Block B to validate the proposed topic. This

may be achieved by conducting in-depth interviews, observations, and mainly through

paper questionnaires. The items included in survey questionnaires were used to sought

out the validity of the research. To mark the results, this may be done through the

collections of data that has been answered of the selected students. Survey forms was

developed, by checking and presenting data into graphs and tables to sought out their

differences and similarities in terms of four categories: 1) Socio-Economic Profile; 2)

Financial Attitude; 3) Financial Behavior; 4) Financial Knowledge. Reviews and

recommendations will be followed.

ETHICAL CONSIDERATIONS

The researchers will provide conviction and security for the respondents to keep

them confidential and respected. Before the interview, researchers will not force the

respondents to answer the said questionnaire. With the use of proper communication and

with the proper delivery of instruction, researchers will be careful in using harmful words

that might be awful to the respondents. The researchers will take the responsibility to

protect the subjects from whatever harm which might befall them e.g. physical

discomfort, emotional stress, humiliation, embarrassment, or any other situation that puts

the participant at disadvantage. After answering the questionnaires, the researchers will

rest assure the respondent’s personality and identity will be hide and use only the
information for data collection purposes. Respondents are well respected and ensured that

the only correct data, information, and research results shall be included.

RESEARCH DESIGN

According to Goldsmith (2005), the family resource management theory best suits

the management process where “the process of using resources to achieve goals.” The

researchers used this theory to seek on financial literacy awareness level of ABM – B

Senior High School Students and gives a clear view of their role in developing the said

literacy among the students of Gordon College.

The four steps in the family resource management model explain how people

make financial decisions and develop financial behaviors. The steps are inputs,

throughputs, outputs, and feedback loop.

·Brainstorming with the ·Identifying the target ·The researchers will

researchers for audience and the collect and analyze the

formulating procedures number of target answers from the

and ideas about the audience needed. survey questionnaires

study ·Conducting survey and interviews.

·Formulating survey questionnaires and ·Formulating conclusion

questionnaires. interviews. and reporting of results

and data analysis.

Inputs Throughputs Outputs

Plan and recommendations will be

provided for the respondents

Environment

Inputs

The first phase of management model which is the input stage depicts primary

resources that is included in the study. These are brainstorming with the researchers for

formulating procedures and ideas about the study and the formulation survey

questionnaires. This is for the respondents to answer the four categories: 1) Socio-

Economic Profile; 2) Financial Attitude; 3) Financial Behavior; 4) Financial Knowledge.

Reviews and recommendations will be followed.

Throughputs

The second phase of the model is the throughputs where the decisions are made

based on the individual’s available resources. Throughputs include identifying the target

audience and the number of target audience needed and conducting survey questionnaires

and interviews. In this study, the throughputs phase will show the target respondents and

the plan of action through interviews and survey forms.

Outputs

Output, which is the third phase, looks at whether the preferred goal was

achieved. It is the recognized outcome that emanates base on the questionnaires answered

by the respondents. This phase includes the collection and the analyzation of the
researchers from the conducted survey questionnaires and interviews and formulating

conclusion and reporting of results and data analysis.

Feedback

Feedback loop is the fourth stage. In this phase the plan and the recommendation

is conducted. The researchers will assess the awareness level of ABM – B Senior High

School students and gives a clear view of their role in developing financial literacy

among the students of Gordon College.

The objective of this study is to encourage students to take responsibility for their

financial future. The intervention aims to provide the necessary knowledge, skills, and

tools for individuals to make informed financial decisions with confidence, to manage

personal wealth with efficiency and to increase financial competence to demand for better

financial services. It mainly focuses on the financial literacy awareness level of ABM – B

Senior High School Students and gives a clear view of their role in developing the said

literacy among the students of Gordon College. The intervention process will first

proceed to the results of the data gathered based on the answers of the respondents. The

collection of data next proceeds to the ratings of the subjects where the main results is

achieved, this is done by liquidating, coding, and presenting into figures or graphs to

show the intervention and will serve as the factors affecting the financial literacy of

ABM-B Students.
 DATA ANALYSIS STRATEGY

The researchers will be using the data analysis and coding to help examine all

possible responses of the respondents. The researchers will give enhanced categories and

coding to evaluate the respondent’s answer properly. With these strategy, the data

analysis will be easily understood to be able to conclude what are the major answers in

the data provided by the respondents.