EFFECTS OF FINANCIAL PROBLEM ON ACADEMIC PERFORMANCE

PERCEIVED BY SENIOR HIGH SCHOOL STUDENTS OF

PRINCESS ELAF L DATUMANONG

PROPOSED TITLE

2022-2023

DATU SIANG NATIONAL HIGH SCHOOL

Cotabato City, Bangsamoro Autonomous Region in Muslim Mindanao

1. Rationale of the Study…………………………………………………………

2. Statement of the Problem…………………………………………………….

3. Scope and Delimitation……………………………………………………….

4. Significance of the Study…………………………………………………….

5. Review of Related Literature…………………………………………………

5.1Research and Policy Implications………………………………………

5.2 Savings Behavior and Financial Problems…………………………..

5.3 The Roles of Parents, Work, and Education………………………..

5.4 Financial Behaviors and Attitude……………………………………..

5.5 Financial Considerations to Poverty………………………………….

5.6 Current Literature and Research Opportunities…………………..

6. Bibliography…………………………………………………………………….
 RATIONALE OF THE STUDY

Financial problems can have a significant impact on a student's

academic performance. As the cost of education continues to rise, more

and more students are struggling to meet their financial needs, which

can lead to stress, anxiety, and other mental health issues. 

According to Lifeline Australia (2016), a financial problem is a

scenario in which money problems are creating individual stress. Many

people are experiencing financial difficulties, which can have a

substantial impact on mental health, scholastic performance, or

motivation. Worrying or feeling nervous about money, arguing with loved

ones, headaches, feeling poorly, difficulties sleeping, feeling guilty about

spending money on non-essentials, anxiety, stress, and even failing

grades in school are all examples of symptoms.

A common financial problem among students is that they do not

take the time to examine their financial situation before incurring

excessive credit card, debit, or other obligations. Many students who are

living on their own for the first time may fall into a loop of overspending
that comes with eating out, purchasing new clothes, or partying. This

lifestyle can rapidly become very expensive, and as a result, it can raise

overall debt. Follow a budget in which you pay your required costs first

and give yourself a specified amount of your money for entertainment,

then stick to that budget. Try saving money by viewing movies at home,

making your own meals on a regular basis, and shopping at bargain

stores (McDaniel2018).

The cost of attending school is currently a challenge for some

students, and a lack of educational resources is another issue. Senior

high school has also been extended by two years, and students who want

to work but are underage are unable to do so because of their age. 

In addition, parents who are unable to support their children

financially because of a disability are unable to afford to send their

children to school. and other kids will be less educated if they don't get

the financial help. Today, it is challenging to earn enough money for

necessities like food and school supplies. (2020)

This study aims to examine the effects of financial problems on the

academic performance perceived by Senior High School Students of Datu

Siang National High School during the school year 2022-2023.

This study aims to examine the effects of financial problems on the

academic performance perceived by Senior High School Students of Datu

Siang National High School during the school year 2022-2023.

Specifically, it seeks to answer the following questions:

1. How do senior high school students perceived the impact of

financial problems on their academic performance.

2. What coping mechanisms do senior high school students

employ to deal with financial problems and their impact on

academic performance.

3. Is there significant relationship between financial problems

and academic performance among senior high school

students?

SCOPE AND DELIMITATION

The study aims to analyze the effects of Financial Problem on the

academic performance perceived by Senior High School students of Patu

siang National High School. The study will be conducted on Datu siang

National High School, and it will cover the academic year 2023-2024 The

population of the study includes Senior High School students who are
facing Financial Problem. The respondents will be selected by using

simple random sampling: The researches will focus on the following wer

variables: Financial Problem and academic performance.

  The study will not cover the effect of other factors such as family

background and mental health on academic performance.

This study aims to examine the effects of financial problems on the

academic performance perceived by Senior High School Students of Datu

Siang National High School during the school year 2022-2023.

SIGNIFICANT OF THE STUDY

The results of the study will provide an in-depth understanding on

how the financial problem may affect the academic performance of senior

high school students of Datu Siang National High School.

Students. The result of this study would assist them to handle

their problems about the financial problem, to be a strong student and

value toward a better relationship in school.

Teachers. They would lead the students about this study. To help

them to understand or give some advices. To be the good influnce to the

students.
 Researchers. The outcome of this study can be used as a guide or

research reference to future researchers who would conduct the same

study.

CHAPTER II

REVIEW OF RELATED LITERATURE

This chapter presents the relevant literature and studies that the

researcher considered in strengthening the importance of the present

studies. It also presents the synthesis of the art to fully understand the

research for better comprehension of the study.

Research and Policy Implications

According to Mohamad Fazli Sabri (2012), it is important to

understand the connection between personal and family background and

financial well-being. This is because, according to Elliot and Lewis

(2010), the study of debt impacts on financial well-being research and

policy implications generally focuses on revisiting the knowledge

gathered regarding the impact of student debt on the financial outcome

of students entering tertiary education 10% of the students in the

University Toledo are experience in English language problems financial

problems as well as a lack of comprehension from the larger university

community. Peter Thomas, Wing Hong Chui, and Mark Sherry (2010).

Simply put, this means that compared to kids in the same year level who
could afford to pay the school fees, there is a higher disadvantage for

those students who must borrow money to fulfill the duty to the school.

Savings Behavior and Financial Problems

The savings behavior and financial difficulties study among senior

high school students, according to Sabri and MacDonald (2010),

discusses the relationship between financial management and stress and

financial literacy toward senior high school students in Malaysia. Overall,

this study concluded that students who achieved high exam scores in

financial literacy were likely to experience less financial troubles.

Naturally, it would occur if the student had a history of bad luck and had

developed poor money management habits in the past. It would act as a

space for improvement in terms of teaching students about the financial

world.

Financial Education on the Financial Knowledge of High School

Students

The effects of financial education on the financial knowledge of

high school students, according to Walstad, Rebeck, and MacDonald

(2010), have a higher impact on appreciating the significance of

recognizing and educating student information about financial

management or effective money managing. This article significantly

will likely guide students highly and help them develop their

understanding of finance when confronting financial challenges.

The Roles of Parents, Work, and Education

Research on the issue of students' financial socialization, parental

responsibilities, employment, and education is speculative, which implies

that the focus of the study is on examining and delineating the parental

role in providing financial interaction to students. According to Soyeon

Shim, Bonnie L. Berber, Noel A. Card, Jing Jing Xiao, and Joyce Serido

(2010), the high school financial education provides information among

students, and the work experiences help high school students become

more alert and wise when handling money.

Financial behaviors and attitude

According to Norvilitis and MacLean (2010), parents are instructing

their children to steer clear of debt. Students have credit cards for

personal use, not for paying bills. Students have the power to save their

parents from financial ruin. This study looked at how credit card debt

among college students is impacted by parental education and modeling

of financial concepts. Parental hands-on financial education was most

partially mediated by it encouraging greater financial self-control and

reducing impulsive credit card spending, both of which were associated

with less problematic credit card use. Debt was not substantially

correlated with having debt-ridden parents, but problematic credit card

use was predicted by having parents who avoided discussing money.

Lower debt levels were associated with students' perceptions that their

parents will help them out of their financial difficulties. Credit card debt

seems to have complicated links with parental verbal guidance and

financial literacy.

Financial considerations to poverty

According to Breier (2010), "Education of the student is to reflect

the financial problem from the school because fails to deprivation among

the students." The article focused on the University of the Western Cape,

which serves a significant number of low-income students, in a study of

student retention and graduate destination. such that few pupils leave

their previous schools due to budgetary issues. This article draws from a

research of graduate destinations and student retention at seven higher

education institutions in South Africa, with a focus on the University of

the Western Cape, which serves a significant share of students from low-

income backgrounds. The study found many students dropped out

also encourages study of regional, societal, and political influences that

have an impact on students' decisions to stay in school or leave. The

presentation of a model of student departure builds on the highly

influential work of Vincent Tinto, but it also allows for greater focus than

he did on students' financial capacity and delineates the points in the

academic calendar when finances pose their biggest impediment to

retention.

Current Literature and Research Opportunities 

According to Ahsan (2013), financial literacy is crucial for

undergraduate students. The key to preparing undergraduate students

financially for financial decision-making in a developing country is the

rising cost of living. Financial literacy is the ability to earn, manage, and

invest money. It is essential for students to be able to make informed

decisions about which higher education institution to attend, what to

study, how to pay for tuition, and how to handle student loan debt after

graduation. Financially literate students are better able to make informed

decisions about their postsecondary education financing, the schools

they should attend, and what degrees to pursue. In many cases, the

decisions students make now will directly affect how much money they

will make in the future.

financial problems can have a detrimental impact on the academic

performance of senior high school students, affecting their motivation,

engagement, psychological well-being, attendance, and access to

educational opportunities. Recognizing these effects is crucial in

developing support systems and interventions to mitigate the impact of

financial problems on students' academic success.

Archuleta, K. L., Dale, A, & Spann, SM (2013) High School students

and financial distress: Exploring debt, financial satisfaction,

and financial anxiety. Financial Counseling and Planning,

24(2), 50-62.

Bandura, A (1977). Self-efficacy: Toward a unifying theory of

behavioral changePsychological Review, 84(2), 191-215.

Bandura, A (1982) Self-efficacy mechanism in human agency.

American Psychologist, 37(2), 122-147.

BarberBM.& Odean, T (2000) Trading is hazardous to your wealth:

The common stock investment performance of individual

investors. Journal of Finance, 55(2), 773- 806.

Baron, R. M., & Kenny, DA. (1986) The moderator-mediator variable

distinction in Social Psychological research: Conceptual,

strategic, and statistical considerations. Journal of Personality

and Social Psychology, 51(6),1173-1182.

SchindlerK.& Archuleta, K. (2011) Student financial

counseling: An analysis of a clinical and non-clinical sample.

Journal of Personal Finance, 10(2)95-121.

Cohen, J., Cohen, P., West, SG., & Aiken, L. S. (2003). Applied

multiple regression/correlation analysis for the Behavioral

Sciences (3rd ed.) Mahwah, NJ: Erlbaum.

Folkman, S (1984). Personal control and stress and coping

processes: A theoretical analysis. Journal of Personality and

Social Psychology, 46(4), 839-852.

Folkman, S., Scheaefer, C., & Lazarus, R. S. (1979). Cognitive

processes as mediators of stress and coping. In V. Hamilton &

D. M. Warburton (Eds.), Human stress and cognition: An

information-processing approach (pp. 265- 298). London, UK:

Wiley. Gecas, V. (1989) The social psychology of self-

efficacy.Annual Review of Sociology, 15, 291-316.

Grable, J. E. & Joo, S. (1999) Financial help-seeking behavior:

Theory and implications. Financial Counseling and Planning,

10(1), 14-25. Grable, J. E. & Joo, S. (2001). A further

Counseling and Planning. 12(1), 55-65.

Hayhoe, C. R., Leach, L. J., Turner, P. R., Bruin, M. J., & Lawrence,

R. C. (2000). Differences in spending habits and credit use of

college students. Journal of Consumer Affairs, 34(1), 113-133.

Heckman, SJ., & Grable, J. E. (2011). Testing the role of parental

debt attitudes, student income, dependency status, and

financial knowledge have in shaping financial self-efficacy

among students. Student Journa, l45(1), 51-64

Hira, T. (2010). The NEFE quarter century project: Implications for

researchers, educators, and policy makers from a quarter

century of financial education. Denver, CO: National

Endowment for Financial Education. Retrieved from

http://www.nefe.org/LinkClick.aspx?fileticket-

A2P8jPulqkw=&tabid=934

Joo, S., Durband, D. B., & Grable, J. (2008). The academic impact of

financial stress on college students. Journal of Student

Retention, 10(3), 287-305.

using professional retirement-planning help. Family and

Consumer Sciences Research Journal, 30(1), 37-63.

Lapovsky, L. (2008). Rethinking student aid: Nontraditional

studentsIn SBaum, M. McPherson, & P. Steele (Eds.), The

effectiveness of student aid policies: What the research tells us

(pp141-158), New York.

Lapp, W. M. (2010) Behavior models for prosperity: A statistical

assessment of savings and behavioral change. EARN Research

BriefSan Francisco, CA: Earned Assets Resource Network.

Retrieved from http://www.earnorg/static/uploads/files/5_-

_Behavioral_Models_for_

Prosperity_A_Statistical_Assessment_of_Savings_and_

Behavioral Change.pdf

Lown, JM. (2011) Development and validation of a financial self-

efficacy scale. Journal of Financial Counseling and Planning,

22(2), 54-63.

Lusardi, A& Mitchell, O. S(2007) Baby Boomer retirement security:

The roles of planningfinancial literacy, and housing wealth.

Journal of Monetary Economics, 54(1), 205-224. National

Statistics2011Retrieved from

http://nces.ed.gov/fastfacts/display.asp?id=76

National Center for Education Statistics. (2012b). Trends in debt for

bachelor's degree recipients a year after graduation: 1994,

2001, and 2009Retrieved from

http://nces.ed.gov/pubs2013/2013156.pdf

Pearlin, L. I.& Schooler, C(1978). The structure of coping. Journal of

Health and Social Behavior, 19(1), 2-21. Perry, V. G(2008) Is

ignorance bliss? Consumer accuracy in judgments about credit

ratings. Journal of Consumer Affairs, 42(2), 189-205.

Trombitas, K. (2012) Financial stress: An everyday reality for college

students. Lincoln, NE: Inceptia. Retrieved from

https://www.inceptia.org/PDF/Inceptia_FinancialStress_

Ross, S., Cleland, J., & Macleod, MJ (2006). Stress, debt and

undergraduate medical student performanceMedical Education,

40(6), 584-589.