Saving For The Future AComparative Studyon Genderadn Spending Behaviorof Senior High Schoolin Adamson University PDF

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“SAVING FOR THE FUTURE: A Comparative Study on Gender and Spending Behavior of Senior High School in Adamson University” 12 ABM 02 Topic Paper in Inquiries, Investigation and Immersion Senior High School Department, Adamson University

Ahmad, Jasim P., Almanzor, Diego Q., Cerdeña, Carl Marx A., Lagrada, Isaac Maru., Lazaro, John Rockford R., Saberon, Trevor Glenn S., Zulla, Kathleen Mae O. Adamson University, Ermita, Manila

1.1 food

According to Razak et. al. (2014) teens to young adults in Malaysia are spending most of their money on their basic needs like food and transportation. They have also concluded that leisure and recreational activities. Previous studies have shown that students would often spend most of their money on more important things like projects and assignments as well as their school fees and supplies also room and board. Studies tell that the youth would sometimes have difficulty in budgeting, most certainly whenever they buy unnecessary items which are out of the budget.

1.2 Room and board

Research Hypothesis

1.3 Transportation

Women spend more than men knowing they have different wants when it comes to several factors like physical needs and wants. Female students would spend their allowance on latest trends and unnecessary items unlike male students. Female senior high school students spend more on school requirements than male students. Female significantly spend more than men because spend more on leisure and recreational activities. Cheng (2020) Earning and how you plan to spend money says a lot about

Background of the Study This study tackles the core of budgeting for the students in Senior high school of Adamson University. Nowadays, budgeting is a skill to develop especially to students given a certain budget. According to Tempo (2010) the youth would tend to spend on recreational activities as long as they have cash to spend. Students would spend most of their on the following: 1. Living Expenses

2. Recreational and leisure 2.1 shopping 3. School expenses 3.1 tuition fees 3.2 projects 3.3 assignments 3.4 materials

someones personality. Statistics indicate that men spend more on food and are willing to pay whenever going out. On the other hand, women have a possibility to spend more on personal care. Therefore this shows that female students have a bigger possibility to spend more than what is need than male students. Theoretical Framework

school requirements activities.

like

projects

and

Statement of the Problem The budgeting of daily allowances of the students somehow doesn’t recognize as important money to save, and spending money. Due to the habit of student expenditures on campus which may affect them to buy such things, rather than to save money for their future needs both in school and home. 1. what is the difference of SHS Students men/women on how they spend their allowance? 2. How SHS students spend their allowance in school?

Fig 1 Life Cycle Hypothesis

3. Is there a significant difference between male and female spending behavior? Operational Terminologies

In 1950, Franco Modigliani an Richard Brumberg, his student, they developed this theory based on their observatU+0069on of the people making consumption. This also theory provided important predictions for the economy. The life-cycle hypothesis LCH says that individuals plan their consumption and saving behavior over their Life-Cycle. They intend to plan out their consumption in the best way possible over their lifetime. The assumption is that individuals choose to maintain their lifestyles. This is applicable to the study because this portrays the way individuals would choose to spend on basic needs like food and transportation. This is applicable to students because they are part of the community of individuals with a common goal of spending more on basic needs, part of this are expenses related to

Budgeting – The amount of money that is available for, required for, assigned to a particular purpose. Comparative study - It seeks to compare and to discover the differences and similarities of two or more things. Spending Behavior – A behavior affecting a persons' way of spending their money to have what they want and need. Budget Plan – a list or schedule of things you will spend on Allowance – money given to students to budget within their needs Sex – these are the male and female senior higth school students of Adamson University

Significance of the Study The result or conclusions of this study can greatly benefit the SHS Students of Adamson University, first the students will build a knowledge of spending behavior between male and female and possibly help them with their spending habits. Second is the parents of the students, they will not be worried about their child's spending habits knowing that they can be responsible for the things that they spend their money on. Lastly is of the future researchers that wants to know more about this study and improve it further more. Scope and Limitations This study covers the importance of daily budgeting of SHS students at Adamson University. This is a quantitative study which only covers SHS students of Adamson University on how student budget and if sex has a relation on spending behavior of Senior high school students. The researchers will be using a structured survey questionnaire as their research medium. The researchers are limited by time which they need to budget and location in which their research will take place, the research will be objective on the said topic.

Related Literature Stollack (2011), many students are encountering being on their own. They are facing a lot of challenges and the most difficult is budgeting. It becomes a problem when they tend to buy unnecessary items. Do students plan and budget their money for optional items oppositely than required items. Through this study, it gives more life learning about spending behavior.

Tempo (2010), he referenced that “Understudies tend to spend their recompenses on their recreational exercises, for example, leasing a PC unit for entertainment only and games, purchasing things at the shopping center, and going through cash for the companions. Adolescents are dynamic purchasers as far as the cash they spend, just as in the impact they use in their families and on cultural patterns. In spite of being brought up in a time of quick change, they show a wonderful self-assurance in their judgment”. Bona (2018) The study explained that most of the respondents are women and mostly are dependent from their parents for their allowance. The study also revealed that there are no relevant differences on the extent of spending.As a result, it can be concluded that most of the respondents spend their money on their projects and assignments, tuition fees and school supplies, and room and board. This is caused by increasing price of materials used in doing their projects and assignments. Therefore, the increasing rate of fees, room and board resulted to increase spending. Hasan et.al. (2012) Youths spends more daily to satisfy their needs, spending pattern of the youth has increased, they have more choices now at making buying decisions, both male and female have different spending pattern but has a slight similarity, the paper shows that the youths are being targeted by marketing professionals. Birari and Patil (2014) It shows that youths are spending more money on shopping especially in branded items, the significant portions of their spending falls to shopping, fast food, mobile phone expenditures, investments, and transportation.

Ajide (2015) they mention in their study that the variable that represents the spending patterns of youths were shopping, transportation, movies, mobile phone expenses, and fast food, the analysis showed that there are significant differences in male and female spending patterns, the main source of their income is their pocket money given by their family and relatives. Nandanan and Fernandez (2017) This aims to get a clear understanding to the differences in the spending patterns and sending attitude and behavior of women as compared to men, it analyses gender not simply as a characteristics but rather, a factor that influence various aspects of personal finance especially in spending. Razak et.al. (2014) The information obtained is that teens and young adults in Malaysia are spending their money on food and transportation. Spending in entertainment and sports activities along with technologies have less significant presence in the results. Therefore, they conclude that the current spending pattern of teens in Malaysia are focused on food and transportation. Nandanan and Fernandez(2017) these days the youth have realized this truth which has led to the evolution of personal finance. Personal finance is the use of principles of finance to the decisions of an individual or family. There are many situations and instances where people are influenced by their gender, emotions and feelings. It is seen that women do not have the same understanding to finance as men because there are many significant differences between them. Women face unique challenges both in terms of making money as well as developing it. This shows higher

time and attention to the particular needs of women as financial consumers. Lexington Law (2020) Teenagers are smart and they learn from the struggles of those that they experienced. With this, you can see they’re opening their financial opportunities by both earning and saving earlier in their lives. Food became their top spending priority, as they continue to spend more in this category each year. Clothing, on the other hand, has seen a decrease in spending from teenagers. Teens know what brands they like and what they like to buy. Rajput, N., Keshawarni, S., & Khanna, A. (2012) Throughout today's global marketplace, the target demand for fashion apparel has been more diverse with the emergence of designer labels, store brands, personalisation, customs and advertisement. From this study it is clear that the females have different opportunities and motivations behind their purchases. A good understanding of customer tastes would allow the marketer to attract and retain its target group of customers. Sereetrakul, W., Wongveeravuti, S., & Likitapiwat, T. (2013) Considering that males and females are raised differently by their parents (Thorne, 2003), gender stereotypes that affect male and female teenagers' saving and spending behaviors. This study shows that male and female students had no different saving behavior, while females were more optimistic about saving and shopping than males. However, females were more concerned about becoming wealthy or making a lot of money than males, while males were more optimistic about saving money than females were.

Tifferet, S., & Herstein , R. (2012) This study finds out that women have higher brand engagement rates than men, retailers should support high-quality products for their female customers. Since women have higher rates of impulse buying compared to men, and because sensual signals induce impulse buying, retailers can accentuate sensory signals in stores whose goods appear to appeal to women. Gender differences in consumer behavior have drawn only minimal research attention, though recognized as a significant subject. This paper helps fill the void by introducing an evolutionary point of view, which serves as a valuable theoretical marketing viewpoint. Ernakulam, Kerala. (2016).Making financial decisions and managing cash well is not only a good habit to learn but also contributes to future financial success. Practicing spending behavior will have a knowledge on growing money such as overseeing the cash usage of a student. As students concerned, they always stay updated on the latest fashion and trends. All of the expenses of students are a usual day expense of an average SHS student goer and their parents are willing to give their children a monthly allowance for the same. Hong Eun-sil (2005) The purpose of this study was to examine the influences of their money attitudes to spending behaviors in school such us universities. The total number of students selected for this study were 1,252. The results were summarized, first of the tendency of students money is quite good, it represents how much money they get with their family and how they spend it. On the other hand students attitude in handling their money is the lowest. The altitude that money represents achievement

showed significant differences by age among the male students. Impulsive spending behavior by different age groups resulted in significant differences of a male and female sex, self-esteem, and attitude that money represent achievement, respect and freedom. Mahalakshmi, V. & Lavanya, S. (2020) The development of students in saving money is to enhance capital formation and reduces having allowances on their parents. The aim of the study it to examine students on their preference in saving methods, such as setting goal, primary school level, etc. the study tells that students want to save money and know how to manage money by saving it. Most of the students chose the reason for not being able to save on their own because of self-control problems. Falahati L. and Paim L. (2011) The findings reveal that in an examination of attitudes towards money is that male students show greater probability of illustrating power/esteem, higher nervousness and maintenance disposition towards money. Male students use their money to accomplish tasks or goals but at the same time are more stressed with money related problems. Male students see money as liquid resource than female students. Female students use money for pleasure or for self delight, yet have a more conservative attitude toward money. They perceive money as a reward to be consumed for pleasure. Falahati, L. (2012) Many group analysis approach using Amos was applied to assess the moderating effect of gender. The results are that males have a better level of monetary knowledge, financial skills, perceived earlier childhood consumer

practices and better savings behavior than female students. The results of testing the structural equation model revealed that gender significantly moderates the effect of childhood consumer experiences. Paim, L. (2011) Gender show differences in financial management, in which, overall, female students demonstrate better financial management and better spending behavior while males have better saving behavior. In respect of gender matters the findings emphasize that female students have better financial management than male students. Lakshmi, V. (2017) Gender may be a vital factor among all the factors, it plays a really crucial role in purchase decisions. Women are more internally focused whereas men ought to be externally focused. Gender shapes other different characteristics of female and male consumer. It has been suggested that male and feminine consumers demonstrate considerably different approaches in their decisionmaking and buying behavior when shopping. Fenton‐O'Creevy, M. Furnham D. (2019)It’s stated in this study of connection between demographic, personality, and attitudinal variables and impulsive buying. In analysis of knowledge, specialize in the attitudes characterized by the extent to which individuals associate money with security, freedom, power, and love. Most of females and people with higher household income were more likely to interact in impulsive buying. Supanantaroek, S. Lensink, R. Hansen, N. (2017) This explained that saving plays an important role within the process of economic process. However, one main reason why poor people often don't save is that they lack financial knowledge.

Improving the savings culture of kids through financial education could be a promising thanks to develop savings attitudes and behavior early in life. The awareness of cash, money recording, and savings attitudes, it provides some evidence although less robust that the intervention increased actual savings. Alekam, E. Mohammed J. Salleh M Salniza M. (2018)It aims of the study the peak of monetary literacy amid the young generation. Financial literacy has become a big challenge in society especially among the young generation. It'll help the youthful generation to form good financial commitment. It develop a singular representation of monetary literacy among youthful age as assumed family, peer, attitude, saving and spending behavior that significantly influence. Shahryar S. and Tan S. T., (2014) The skill of managing money is a major factor in order to have a quality life, the researcher used stratified random sampling to determine the spending patterns and behavior of the students in one of Malaysia university . The habit of student expenditures has shown how they managed money in their lives, as a result of the study it shows that the students are lacking of knowledge in financial literacy, and it also shows that the majority of students do not practice the right way in managing money. Kamis, J., Abdul Samad, N. et. al. (2020)The Influence of Money Attitude Towards Spending Behaviour Among Universiti Selangor (Unisel) Students Uncontrollable spending habits towards students in different generations are becoming progressively. They have a tendency to have less value of money

compared to elder generations in spending their money. This study is to investigate the relationship of money attitude factors towards the students, there were only three factors money attitude that have a significant effect on spending behavior among students which are power-prestige, retention-time, and anxiety. Anxiety is most influencial factor of money attitude among students in unisel which lead them to spend more money on unnecessary things. Vilasini Jadhav and Monica Khanna(2016) Factors Influencing Online Buying Behaviour of College Students To conclude the main factors that influences students in Mumbai to buy in online shopping are the following: availability and affordability of products, promotions, comparison to different products, convenience and easy to use, customer service, attitude, time consciousness, trust and multiple variations of the products. Tickets, electronic goods and accessories, apparels, books, footwear, and gifting items, were the major categories of products / services bought by most of the students with Cash on delivery as the most preferred mode of payment by the students while doing online shopping this can be sociologically relevant because women could also be conditioned to appear and dress an explicit means, and participate in sure activities, like looking on-line or in stores, and looking at sure stores that area unit viewed as socially favorable. As a result, this could lure them to pay extra money on look items than males, and acquire additional debt. This claims that men have the upper accountable monetary attitudes, and ladies have the lower accountable monetary attitudes. Gender additionally influenced what sorts of purchases students were making on their credit cards. This is sociologically attention-

grabbing as a result of females feel additional pressure to appear an explicit means and pay more money on garments and cosmetics, whereas men continue appearances in ways in which involve social activity feminine students additionally possessed less monetary information, however were additional doubtless to possess a mastercard and carry more debt (Robb and Sharpe 2009). White students, compared to alternative racial/ethnic teams, possessed additional monetary information than their counterparts. The study additionally confirmed that females were additional doubtless than males to possess an impressive mastercard balance, and usually had additional debt than male students (Robb and Sharpe 2009). Females performed additional monetary management than males, however feminine students UN agency performed fewer financial management practices were additional doubtless to expertise the next range {of monetary|of monetary|of economic} stressors like important mastercard debt...