Navigation Financial hurdles: Understanding the Coping Strategies of the

SHS students of Tacloban Central Institute of Technical Studies Inc.

A senior High School Research

Presented to the Senior High Faculty

Tacloban Central Institute of Technical Studies Inc.

In partial fulfillment of the requirements

For the Practical Research I

By

Amano, Nicole A.

Batoto, Mary Joy H.

Caballero, Dave Icen B.

Cadayong, Arvie Marie

Damaging, Rochel V.

Escorial, Jeric O.

Palagar, Jobel L
 Chapter 1

Introduction

One of the challenges that Tacloban Central Institute of Technical

Studies, Inc. students confront is financial. Financial challenges have an

impact on both student performance and future grade achievements. After all,

their health may also be impacted. It demonstrates how deeply a serious topic

affects a person, particularly a student. Furthermore, this study will provide

light on the financial difficulties that students confront, as well as the

complexities of each student's unique circumstances. In this section, we will

look at the reasons of financial troubles that affect everyone. It will also

provide solutions to lessen the number of youngsters affected by this problem.

It's simply intended to show that money troubles are a serious concern that

impacts everyone, not just individuals. Also consider how and to what extent

educators, educational institutions, governments, and other education-related

entities can help.

As stated by WU (2017), financial difficulty is an instance of stress

brought on by money concerns. However, senior high school students have

recently been dealing with financial difficulties, and this issue has grown to be

very serious for them. Students sometimes struggle financially since they do

not have enough financial issues will therefore affect one’s physical and

emotional well-being. In addition, the trade war and inflation have caused the

majority of the nation to experience a recession and increased the number of

students who are having financial difficulties.

 As mentioned by Norazlan (2020), everyone worries a lot about money

problems, but students especially do. Due to their financial hardships, the bulk

of students come from underprivileged homes. Because of this, students have

to choose between paying for food and other essentials with their money, and

some have to cope with health issues that make it difficult for them to pay

their expenses. The lack of resources to cope with the high cost of living

forced students to deal with financial challenges. Money is a major issue that

many students continue to face and one that could affect their academic

achievement. The aim of this study is to determine the relationship between

Tacloban Central Institute Technical Studies, Inc. students’ financial hardship

and academic success.

Based on Daud, et al. (2018), students in higher education require

more money to cover the cost of study and living in universities as higher

education costs in public and private educational institutions are on the rise.

As a result of limited financial resources and the rising cost of education, there

may be students struggling with financial problems in their daily lives.

In the opinion of Matey (2020), one of the best social and economic

intervention strategies that directly impact parents and their senior high school

wards is the free senior high policy. In light of the policy’s contribution to

relieving parents of financial and economic load, this understanding is made.

According to the testimony of Khusaini et al. (2021), students who lack

financial knowledge and comprehension often behave consumptively because

it makes managing finances and making decisions more challenging.

Research questions

The study aims to determine the strategies of students on the financial

aspects.

1. What are the financial challenges that students of Tacloban Central

Institute of Technical Studies encounter in pursuing their education?

2. How did the students strategize to solve the challenges?

3. What are the suggestions given by the students of Tacloban Central

Institute of Technical Studies to the stakeholders/government to better

solve these challenges?

Scope and limitation

This study will focus on the coping strategies of students on their financial

problems the target here is the students of Tacloban Central Institute of

Technical Studies who are struggling financially in terms of their educational

aspects. This study will be beneficial to the students as well as the teachers in

certain schools as this will enlighten them on the financial struggles faced by

the students and the students will somehow learn how to manage/cope with

the financial problems they are facing.

Definition of Terms

Academic Performance- means that the desired goal of education is

reached or acquired by the students and means the completion of their

educational work.

Challenges- means that it requires an effort to pass or complete the test. It

requires dedication and great skills to solve a certain issue or problem.

Coping mechanism- means that it is a different type of strategy to defuse

and reduce unpleasant feelings toward anything. This also means that each

individual has a unique coping mechanism to minimize uncertain feelings.

Financial- means involving money in which it rotates or relates to finance.

Financial problems- it is unable to pay debts and dues in the long or short

term. It also means that incapable of handling finances or have such limited

resources that lead to being unable to pay debt or payments for a certain

thing that needs to be settled correctly.

Students- means a person who goes to school studying to school.

Significance of the study

The result of this study will benefit the following;

Students- this study will help the students to have strategies and information

about the things that could lead to solving financial problems. The students

will be able to build sidelines or alternatives that could help them somehow

track their financial activity and could also have a side

Teacher- this study will help teachers to understand and analyze what are the

student burdens in terms of their finances. Also, this will help the teachers to

have or build strategies for them to help their student's problems.

Parents- This study will give parents information and ideas about what the

students go through in their financial problems. This will also encourage them

to understand and help their daughter/son in coping with their problems.

Theoretical framework

The earliest known use of the term financial literacy can be traced back to

1992, whena report for the National Foundation for Educational Research

(NFER) commissionedby NatWest Bank, defined financial literacy as “the

ability to make informed judg-ments and take effective decisions regarding the

use and management of money”(Noctor, Stoney, Stradling, 1992). Financial

literacy as a theoretical construct waschampioned by the Jump$tart Coalition

for Personal Financial Literacy in its inau-gural 1997 study Jump$tart Survey

of Financial Literacy Among High School Students.In this study Jump$tart

defined “financial literacy”as “the ability to use knowledgeand skills to manage

one’s financial resources effectively for lifetime financialsecurity.”As

operationalized in the academic literature, financial literacy has takenon a

variety of meanings; it has been used to refer to knowledge of financial

products(e.g., what is a stock vs. a bond; the difference between a fixed vs.

an adjustable ratemortgage), knowledge of financial concepts (inflation,

compounding, diversifica-tion, credit scores), having the mathematical skills or

numeracy necessary for effec-tive financial decision making, and being

engaged in certain activities such asfinancial planning. Efforts to measure

financial literacy date back to at least the early 1990s when the Consumer

Federation of America (1990; 1991; 1993; 1998) began conducting a series of

“Consumer Knowledge "surveys among different populations which included

questions on several personal finance topics: consumer credit, bankaccounts,

insurance, and major consumer expenditures areas such as housing, food, and

automobiles (Hastings, Madrian, Skimmyhorn, 2012). The 1997 Jump$tart survey

of high school students referenced above has been repeated biennially since 2000

and was expanded to include college students in 2008 (Mandell, 2008b, pp. 163–183).
References

Daud, N., Norwani, N. M., & Yusof, R. (2018a, November 9). Students

financial problems in Higher Education Institutions. International Journal of

Academic Research in Business and Social Sciences.

https://hrmars.com/index.php/IJARBSS/article/view/5312/Students-Financial-

Problems-in-Higher-Education-Institutions

Norazlan, N., Yusuf, S., & Mohamed Hamoud Al-Majdhoub, F. (2020).

The financial problems and academic performance among public university

students in Malaysia. The Asian Journal of Professional & Business

Studies, 1(2). https://doi.org/10.61688/ajpbs.v1i2.52

WU, F. (2017). Simple analysis of the financial problems faced by

college students and solutions. DEStech Transactions on Economics,

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https://doi.org/10.12783/dtem/icem2017/13102

Matey, J. (2020c). The effect of free senior high school policy on the

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Multidisciplinary Scope, 1(SI-2), 27–36.

https://doi.org/10.47857/irjms.2020.v01si02.038

Khusaini, Mutiah, & Ramdani, H. C. (2021). Vocational and senior high

school differences in financial literacy. IOP Conference Series: Earth and

Environmental Science, 747(1), 012018. https://doi.org/10.1088/1755-

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Świecka, B. (2019, March 18). 1. A theoretical framework for financial literacy and
Financial Education. De Gruyter.
https://www.degruyter.com/document/doi/10.1515/9783110636956-001/html

Chapter 2