SURVIVING BELOW THE LINE: A STUDY OF BUDGETING STRATEGIES

AMONG LOW-INCOME HOUSEHOLDS

A Thesis Proposal Presented to

the Faculty of the Business Administration Department

Mountain Province State Polytechnic College

In Partial Fulfillment

of the Requirements for the Degree

BACHELOR OF SCIENCE IN BUSINESS ADMINISTRATION

By

Cafay, Crysten Joy S.

Cawayan, Jennifer A.

Ciano, Marina T.

Maskay, Hannah Mae Y.

Poc-oran, Garlene T.

Tayab, Melanie M.

Vicente, John Michael C.

February 2024
 ACKNOWLEDGEMENT
The researchers are overwhelmed with deep gratitude due

to the accomplishments of a task. It was a collaborative

work of individuals. This study would not have been possible

without the support of many people.

The researchers wish to express their gratitude to

their adviser, Ma’am Jenifer N. Damayan, and their subject

teacher, Sir Elvin P. Rosario for guiding and correcting

their errors in this study and for helping them in editing

their works.

The researchers also wish to express their gratitude to

Sir Jerome “Chagsen” Tudlong, Jr. for approving their

request letter and allowing them to conduct their research

in the central Barangays of Bontoc.

Deepest gratitude is also due to the participants who

have willingly shared their precious time during the process

of answering their interview guide questions. Most of all,

the researchers would like to thank the Almighty God, for

giving them strength to continue the work.

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 TABLE OF CONTENT

PAGE

TITLE PAGE.................................................i

APPROVAL SHEET .............................................

ACKNOWLEDGEMENT ..........................................ii

TABLE OF CONTENTS........................................iii

LIST OF FIGURES .........................................iv

ABSTRACT ..................................................v

CHAPTER 1: INTRODUCTION

Background of the study................................1

Review of Related Literature...........................7

5Theoretical Framework................................14

Statement of the Problem..............................18

CHAPTER 2: DESIGN AND METHODOLOGY

Research Design.......................................19

Population and Locale of the Study....................19

Data Gathering Tool...................................20

Data Gathering Procedure..............................24

Treatment of Data.....................................25

Ethical Considerations................................27

CHAPTER 3: RESULT AND DISCUSIION .........................29

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CHAPTER 4: CONCLUSIONS AND RECOMMENDATIONS ...............49

REFERENCES................................................52

APPENDICES

Interview Guide Questions............................58

Letter to the Mayor ..................................60

Letter to the Barangay Chairman ......................61

Letter to the Respondents ............................65

Curriculum Vitae..........................................67

LIST OF FIGURES

Figure No. Figure Title Page

1 Theoretical Paradigm on

The Budgeting Strategies

Of Low-Income Households.................17

2 Map of Bontoc, Mountain

Province...................................20

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v
 CHAPTER 1

INTRODUCTION

BACKGROUND OF THE STUDY

Economic stability referred to a situation where all

the essential economic resources of a country were available

to its citizens, and no economic swings interrupted their

daily lives. It helped achieve macroeconomic objectives like

reducing unemployment, balancing payments, price stability,

and sustainable economic growth. The variables affecting

stability included inflation, recession, policy changes, the

political situation, the global market, and fiscal deficits.

(Saravanakumar, 2024).

Inflation, which was one of the variables that affected

stability, was the increase in the prices of goods and

services over time. Inflation could not be measured by an

increase in the cost of one product or service, or even

several products or services, but rather was a general

increase in the overall price level of goods and services in

the economy ("What is Inflation and How Does the Federal

Reserve Evaluate Changes in the Rate of Inflation?" 2016).

According to the U.S. Department of Labor, they also defined

inflation as a “general upward price movement of goods and

services in an economy”. In other words, life became more

expensive as the cost of making purchases rose.

The most evident effect that inflation had was the

reduction in purchasing power. A customer's ability to

purchase goods and services with a specific quantity of

money was referred to as purchasing power. In essence, it

was a measurement of the value of money in relation to what

it could buy. Since it directly affected a person's capacity

to satisfy their needs and desires, it was a crucial metric.

Knowing their purchasing power enabled customers to make

well-informed decisions on their spending and budget

("Purchasing Power Definition & Examples - Quickonomics,"

2023). As purchasing power declined, many felt the

significant impacts on their budget. But those on a low-

income household felt the effect the most.

A household was a group of people who lived together

and shared money (What Is a Household? - Universal Service

Administrative Company, 2023). A group of people who lived

together and had common living circumstances was referred to

as a household. These people were usually related by

marriage, blood, or adoption. It was a single residence

where people interacted as parents, siblings, spouses, and

children, among other social roles. A household was not the

2
same as a family because a household could have roommates or

boarders who were not related. A household's aspects

included practical, emotional, and socioeconomic aspects. In

terms of finances, a home offered companionship, emotional

stability, and societal roles including controlling sexual

behavior and reproduction. Economically speaking, it

provided clothing, food, and shelter—especially for

individuals who were unable to support themselves. In real

life, a household entailed sharing duties like raising

children, cleaning, and tending to ill or disabled family

members ("Sociology of Family: Definition & Concept |

StudySmarter," n.d.).

Low-income households were those that fell below a

specific income criterion and had limited financial

resources. They frequently struggled to afford basic needs

including housing, food, and medical care. The sources cited

indicated that low-income households mostly relied on income

to meet their financial needs and desires (Notten, 2014). In

order to relieve financial burden and gain access to

necessary resources, these households usually received

support from a variety of sources, including social

networks, private groups, and public programs (Wu and Eamon,

2007). According to research, low-income households may have

relied heavily on public help while also using private and

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public assistance. Furthermore, research had indicated that

differences in income had an effect on food consumption

habits, with lower-income households typically allocating a

greater percentage of their food budget to less healthful

options than higher-income households (French et al., 2010).

This drew attention to the nutritional difficulties and

budgetary limitations that low-income households

experienced, highlighting the significance of providing them

with specialized support and treatments to meet their

particular requirements.

The Philippines' low-income households were severely

impacted by inflation, which made their budgeting techniques

difficult. Rising costs made it harder for low-income

households to maintain their standard of living since they

spent a bigger percentage of their income on necessities

like food and electricity. These households had to cut back

on needs, reduced savings, took on debt, and worked longer

hours in order to pay for the higher prices as a result of

the recent spike in inflation. The impact of inflation on

low-income households in the Philippine setting was

exacerbated by a number of factors, including the prevalence

of informal work, insufficient social safety nets, and

income inequality. Because low-income households had less

financial cushioning to absorb the impact of inflation, they

4
incurred a larger hardship when prices rose due to the

unequal distribution of wealth in the nation. The bottom 30%

of the population, who made up the poorest Filipinos, saw

greater inflation in August 2021—5.2 percent, the highest

since January 2019. The financial strain on these households

was made worse by this circumstance, which forced them to

make tough decisions like sacrificing healthcare or school

costs, cutting back on necessities, or taking on high-

interest debt in order to pay for their basic requirements

("Inflation Seen to Hit Growth, Poverty Goal," n.d.).

The minimal amount a family required to cover their

basic food and non-food needs was ₱12,082, which was the

current average estimated poverty threshold in the

Philippines, according to the Philippine Statistics

Authority (PSA) ("Who Are Identified Rich, Poor? Gov’t Shows

Income Class Brackets in PH," 2024). Low-income or

impoverished households were those whose income fell below

this line. According to the PSA's most recent Family Income

and Expenditure Survey, 58.4% of Filipinos were low-income,

meaning their monthly family income was less than ₱19,040.

Those with a per capita income of less than ₱9,520 per month

were classified as low-income, which included those who were

below the poverty line. A study from the Philippine

Institute for Development Studies (PIDS) further supported

5
this income range for low-income households in the

Philippines. According to PIDS, low-income people were those

who make between the poverty line and twice the poverty

line, or between ₱9,520 and ₱19,040 per month for a family

of five.

Inflation really presented a serious problem for low-

income households in Bontoc who were already having

difficulty making ends meet. They spent a lot of money on

necessities like food, housing, etc., so even a slight price

increase could have a big impact on their spending plans.

Due to these circumstances, they may have had to forgo basic

essentials or incur debt to make ends meet during periods of

inflation. This situation could have resulted in a vicious

circle of difficulties. Due to their limited means and

declining purchasing power, individuals might have had to

make compromises on necessities like wholesome food.

Low-income households in Bontoc, Mountain Province also

suffered a systematic challenge like limited income

mobility, which went beyond the immediate strain of

inflation. Their present pay frequently fell just below the

poverty line, giving them very little room for investment or

savings. It was almost impossible to withstand unforeseen

calamities like illness or job loss when there was no

financial buffer. They found it difficult to save money for

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emergencies or long-term objectives like going to school or

launching a small business, even during prosperous times.

Their limited financial resources put them in a vulnerable

loop where any setback could send them more into debt. Their

inability to invest in learning new skills or education was

another consequence of their limited means, which made it

harder for them to move up the economic ladder. This

situation created a sense of powerlessness and limited their

ability to dream beyond simply meeting basic needs.

In this situation, studies that had already been

conducted may have looked at general low-income households'

budgeting strategies to combat the impacts of inflation on

their daily lives. However, there was a clear lack of study

on what budgeting framework to use and be put into practice

that is tailored with the unique problems that inflation

presented. The purpose of this study was to create a

budgeting framework for low-income households that was

specifically designed to address the financial difficulties

that they faced in the context of inflation.

REVIEW OF RELATED LITERATURE

The term “inflation” had a long history in economics,

during which it had three general meanings: Originally, in

the mid-1800s, it signified an increase in the money supply,

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or currency in circulation not backed by metallic money.

Then the emphasis changed slightly so that the term

signified an increase in the money supply, or an increase

not offset by an increase in demand for money, leading to a

general rise in prices. Finally, after the Keynesian

revolution, it came to signify a rise in the price level

(Bryan, 1997).

Additionally, inflation was the rate of increase in

prices over a given period. Inflation was typically a broad

measure such as the overall increase in prices or the

increase in the cost of living in a country. But it could

also be more narrowly calculated – for certain goods such as

food, or services, such as a haircut, for example. Whatever

the context, inflation represented how much more expensive

the relevant set of goods and/or services had become over a

certain period, most commonly a year (Oner, 2010).

The severe inflationary crisis combined with a global

slowdown in economic growth – driven in part by the war in

Ukraine and the global energy crisis – were causing a

striking fall in real monthly wages in many countries

(Global Wage Report - Rising inflation brings striking fall

in real wages, 2022). “The multiple global crises we are

facing have led to a decline in real wages. It has placed

8
tens of millions of workers in a dire situation as they face

increasing uncertainties,” said ILO Director-General,

Gilbert F. Houngbo. “Income inequality and poverty will rise

if the purchasing power of the lowest paid individual is not

maintained. In addition, a much-needed post-pandemic

recovery could be put at risk. This could fuel further

social unrest across the world and undermine the goal of

achieving prosperity and peace for all”, he added.

Here in the Philippines, the recent announcement of the

Bangko Sentral ng Pilipinas (BSP) stated that inflation in

February 2024 increased slightly from 2.8% in January to

3.4%, which was within the range of 2.8% to 3.6% predicted

by the BSP for the same month. It was concerning news for

Filipino consumers, especially for low-income households who

were already grappling with the rising cost of living. The

increase in prices, particularly in essential food items

such as rice, meat, and fish, would further strain the

budgets of those who were already struggling to make ends

meet. They contended that the spike in commodity costs,

which included those of fuel and electricity, was a

contributing factor to the inflationary pressures. With an

average inflation rate of 22.6 percent in January, rice

prices in particular had risen to their highest point in 15

years. The price of the staple food, which was unbearable

9
for many Filipino households, had increased sharply, which

had a big effect on the inflation rate overall. A large

percentage of the workforce was made up of low-income

households, who were especially susceptible to the

consequences of rising costs. Their low salary made it

impossible for them to afford the extra expenses of

necessities, thus compounding their financial difficulties

(Rising inflation and the struggle of Filipino minimum wage

earners, 2024).

According to a Business Mirror article, inflation

reduced people’s purchasing power, particularly those who

earned a low-income. When inflation grew, the cost of basic

needs like food and utilities could became prohibitively

expensive for less fortunate groups, particularly low-income

households. These individuals, who made up a substantial

portion of the workforce, were especially vulnerable to the

consequences of rising prices, as their limited income made

it difficult to absorb extra expenses of basic commodities,

pushing them deeper into financial distress ("Digital

Newspaper & Magazine Subscriptions," n.d.).

Different household compositions and income levels led

to varying experiences of inflation and levels of financial

strain. The Census Bureau’s Household Pulse Survey indicated

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that inflation disproportionately impacted low-income

households due to several factors. These individuals

allocated a larger portion of their income to essential

expenses like food, fuel, and housing, which often faced

inflation rates higher than average. This left them with

limited options to cut off some spending. Low-income

households lacked the flexibility to adjust by opting for

lower-cost alternatives and generic products when prices

increased as they were already purchasing the most

affordable items available in the market. They also tended

to have smaller financial reserves to cushion the impact of

rising prices during periods of heightened inflation

(Jayashankar & Murphy, 2023).

In today’s emerging economies, where low-income

households faced numerous financial challenges, effective

budgeting and decision-making played a crucial role in

managing limited resources (Kumar, 2023). A budget was a

long-term plan for how much money a person or company would

earn and spend, not a record of how money was spent while

defining choice, acquiring data, and evaluating potential

options was the act of decision-making (Srivastava, 2022).

According to him, underprivileged people usually made

different decisions from those who were not needy.

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 Based on a report by GMA News, rising prices for

essential products were prompting low-income households to

borrow money just to make ends meet. When they interviewed

some of those low-income households, they stated that their

income was insufficient to cover their bills and other

expenses. They also mentioned that they had debts to settle

before they could receive their next salary. Even though

they only received a minimum wage, they had to budget their

earnings for their family’s daily expenses as well as food

and transportation to and from work. They stated that their

income was insufficient, but they had to budget accordingly.

According to the study conducted in Nueva Ecija by

Pascual (2022), the vast majority of those surveyed were

employed in non-agricultural businesses. The respondents

were those engaged in non-agricultural jobs such as security

guards, janitors, construction workers, tricycle drivers,

and jeepney operators. Respondents had changed their

budgeting strategies before and during the pandemic, and

additional expenses were included during the pandemic. Some

had increased their internet access budget during the

pandemic, postponed planned vacations, and gave insurance a

higher priority. There were various aspects that affected

respondents' decisions when it came to spending. The data

gathered showed that daily financial matters came in first,

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followed by the cost of products and services. Respondents'

assessments of how they were handling the financial problem

were inconsistent because their budgets varied both before

and throughout the pandemic. While some said they were

managing their finances, others insisted they couldn't

manage their finances properly. Those who could manage had

adequate money set down in their budget for daily eating.

Most of the people surveyed had very little money left over

for savings. The respondents claimed that because they did

not have the luxury of spending money on desires at this

time of crisis, they were prioritizing their basic needs

over their wants.

For low-income households, a thorough budgeting

structure created especially for them was necessary to

assist them in overcoming the financial obstacles presented

by inflation. Flexibility and resilience should have been

given top priority in such a framework so that families

could adjust to shifting financial circumstances without

forgoing necessities. A customized budgeting framework would

have considered the unique requirements and financial

limitations of these households, offering recommendations on

how to effectively distribute scarce resources and manage

growing costs. Through the provision of useful techniques

and assistance, this type of framework could have lessened

13
the negative consequences of inflation and enhanced the

financial stability of low-income households.

THEORETICAL FRAMEWORK

Understanding low-income households’ budgeting

strategies in the face of inflationary pressures was

critical for developing targeted interventions to improve

their financial situation. This theoretical framework aimed

to integrate insights from behavioral economics, rational

choice theory, and financial literacy theory in order to

shed light on the complex dynamics that influenced low-

income households’ financial decisions. By examining the

interplay of cognitive biases, knowledge gaps, and

structural constraints, this framework sought to provide a

comprehensive understanding of the challenges faced by low-

income households and inform effective strategies for

promoting their financial resilience in the face of

inflation.

Behavioral economics (Kenton, 2023), the study of

psychology related to economic decision-making processes of

individuals and institutions. Behavioral economics was

14
frequently associated with normative economics. It used

psychology and economics to investigate why people made

irrational decisions and how their behavior differed from

economic model predictions. In the context of low-income

households, this theory underscored the importance of

understanding how cognitive biases, such as present bias and

scarcity mindset, influenced their budgeting decisions in

response to inflation.

Additionally, financial literacy theory complemented

behavioral economics by emphasizing the importance of

knowledge and skills in making informed financial decisions;

however, low-income households often faced barriers to

acquiring and applying financial literacy due to factors

such as limited education, lack of access to formal

financial services, and low levels of financial awareness.

Consequently, they may have struggled to understand the

complexities of inflation and its implications for their

budgeting strategies. Without adequate financial literacy,

low-income households may have resorted to suboptimal coping

mechanisms, such as underestimating future expenses, over-

relying on high-cost borrowing, and neglecting long-term

saving goals, which could have further exacerbated their

financial vulnerability (Tertak & Kovacs, 2019).

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 Another theory in relation to the objective of this

study was the rational choice theory. In social science,

rational choice theory postulated that people analyzed the

advantages and disadvantages of many options before

selecting the one that would maximize their utility.

According to this theory, people would divide their limited

resources - their income - in a way that maximized their

overall happiness or well-being when it came to low-income

households’ budgeting strategies. This theory implied that

people would modify their spending and saving patterns in

response to changes in prices and their income, which was

relevant to budgeting strategies for low-income households

battling the effects of inflation. This could have entailed

giving necessities like housing, food, and utilities

priority over wants (Becker, 1976).

As inflation continued to erode the purchasing power of

low-income households, recent estimates indicated that

despite nominal adjustments, the rapid rise in price

inflation was swiftly diminishing the actual value of wages

in numerous countries, particularly in the Philippines. In

relation to this, the researchers had analyzed that there

was an urgent need to craft a comprehensive budgeting

framework to help maintain the purchasing power and living

standards of low-income households.

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 Introduction
1. Background on Low-income Household
2. Significance of Budgeting Strategies Research
3. Research Objectives

Applicable Theories
1. Behavioral Economic
2. Rational Choice Theory
3. Financial literacy Theory

Challenges
Economic Challenges: Inflation

Budgeting Strategies
Adaptive Strategies: Cutting Expenses,
prioritizes needs over want

Interview Process
1. Participant Selection Criteria
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2. Semi-structured Interviews: Open-Ended Questions
3. Building Rapport: Empathy, Active Listening
 Main Objective: Budgeting Framework
1. Synthesizing Findings into a Comprehensive Framework
2. Tailoring Recommendations to Low-income Households
3. Practical Strategies for Budgeting

Figure 1: Paradigm of the Study

STATEMENT OF THE PROBLEM

Throughout the study, the researchers would determine the

budgeting strategies and financial challenges encountered by

low-income households to help the researchers craft a

comprehensive budgeting framework for them. For the

researchers to achieve this goal, the following problems

must have been identified and answered, creating a

substantial plan for preparing the final output.

1. What challenges did low-income households encounter

when dealing with the impacts of inflation on their

living expenses?

2. What were the prevailing budgeting strategies adopted

by low-income households to navigate their financial

challenges?

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 3. What comprehensive budgeting framework should have been

crafted to empower low-income households in effectively

navigating their financial challenges, particularly in

response to the impacts of inflation on their living

expenses?

CHAPTER 2

DESIGN AND METHODOLOGY

RESEARCH DESIGN

A descriptive qualitative design technique was used in

the study. A validated interview guide was utilized as a

data collection tool to gather information from a

representative sample of the community and derive

conclusions from the total population. Finally, a discussion

was held regarding the ethical issues that should have been

observed during the process.

POPULATION AND LOCALE OF THE STUDY

The study was carried out by the

researchers during the second semester of the 2024–2025

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school year. The four (4) barangays of Bontoc — Bontoc Ili,

Caluttit, Samoki, and Poblacion — were the study’s

locations. In this study, a purposive sample strategy was

applied. The selection of the participants was based on

inclusion and exclusion criteria. The inclusion criteria

covered those who were members of the Pantawid Pamilyang

Pilipino Program (4Ps), and those households whose

collective threshold fell between ₱9,520 and ₱19,040 per

month. On the other hand, exclusion criteria included people

who made more than ₱19,040, the unemployed, people under the

age of 18, people who did not live in the study area, and

people who were physically or cognitively incapable of

giving informed consent or taking part in the study.

Following these guidelines helped researchers ensure that

the study remained focused on the intended audience, which

increased the findings’ relevance and dependability.

Figure 2: The map of Bontoc, Mountain Province

(Source: Google Maps, 2022)

Data Gathering Tool

The researchers generated potential research questions

to be addressed in this study. They gathered related studies

and literature to help them with their research.

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 The researchers created hard-copied interview guide

questions, which were checked for approval first by a tool

validator before use. To improve the comprehension of the

participants answering the questions, the researchers used

the “Ilocano”, “Kankanaey”, and “Finontok” dialect when

interviewing them.

The instrument that was utilized in this study consisted of

two (2) parts:

The first part of the interview guide questions

contained questions that focused on the challenges that the

participants experienced in times of inflation on their

daily expenses, the effects or impacts of those challenges

brought by inflation and some effective measures that

participants recommended to handle the inflation. The study

delved into the challenges faced by low-income households,

such as managing money, and sustaining themselves amidst

these difficulties. This study looked at the experiences of

living in poverty and how these households used complex

strategies to manage their finances, which was directly

relevant to understanding the impact of inflation on the

budgeting practices of low-income households.

The paper captured the need for financial management

support services, which aligned well with our objective of

21
understanding the financial challenges low-income households

faced, particularly in light of inflation’s impact on their

living expenses. Questions in the interview guide were made

to resonate with the themes discussed in this article, such

as the financial challenges experienced, the impact on basic

needs, and budget management amidst limited income. The

article also supported the significance of the proposed

interview guide questions by illustrating the importance of

understanding the specific challenges and strategies low-

income households used in the context of financial

management, especially relevant in times of inflation. It

suggested that input from clients (low-income households) on

financial challenges and effective strategies formed a

critical foundation for developing effective support

mechanisms, including a comprehensive budgeting framework.

The second part of the interview guide questions

consisted of questions regarding the budgeting strategies,

creative ways, and other techniques or tools that helped the

participants navigate their financial challenges. The

questions that were outlined focused on the personal

budgeting strategies and tactics employed by low-income

households. This paper supported the inclusion of these

questions by pointing out that tailored strategies and

support services were critical for low-income households

22
dealing with financial challenges, especially under the

duress of inflation.

Data Gathering Procedure

Following the proposal’s approval, the researchers

requested permission to conduct the study and include

participants by writing letters to the Bontoc Municipal

Mayor’s office and the barangay captains of the four target

areas.

The researchers started gathering data once the letters

had been approved. In the conduct of the interview, the

researchers respected individuals’ autonomy and did not

compel anyone who was not willing to participate in this

research. To improve comprehension and the flow of the

interview responses, the participants were interacted with

in Ilocano, Kankana-ey, and Finontok, whichever dialect they

could understand, when questions were asked. Before each

interview began, participants were provided with an overview

of the study, explaining the purpose and importance of their

inputs. The researchers requested permission to record the

conversation, explained that recording ensured the accuracy

and completeness of the data collected. Participants were

assured that all recordings were kept confidential and used

23
exclusively for research purposes. Before proceeding with

questions, the researchers confirmed that the participants

had agreed to be recorded, ensuring compliance with ethical

standards and respect for their privacy. The researchers

diligently collected and analyzed data until they reached a

point of data saturation. This meant that through their

exhaustive efforts, no new information or themes emerged

from the data, which indicated that they had comprehensively

explored the phenomenon under study. This ensured the

validity and reliability of their findings, providing a

solid foundation for their research conclusions. Following

the interview, all of the data was compiled and tabulated by

the researchers, who then grouped the participants’

responses based on the predetermined criteria and

interpreted the results.

Treatment of Data

As the researchers delved into the financial challenges

faced by low-income households amidst inflation, thematic

analysis became their beacon in navigating the complexities

of their lived experiences. Their journey began with the

careful collection of qualitative data, which included in-

depth interviews.

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 The thematic analysis served as their methodological

compass as they immersed themselves in the narratives and

perspectives of these households. They meticulously

transcribed and organized the data, ensuring that every

insight, emotion, and struggle was faithfully captured.

As they delved into the data, themes began to emerge —

themes that spoke to the multifaceted nature of financial

hardship in the face of inflation. They uncovered themes

related to the daily trade-off’s families had to make, the

emotional toll of financial stress, and the resilience and

creativity exhibited in stretching limited resources.

Thematic analysis allowed the researchers to connect

the dots between individual experiences and broader systemic

issues. They identified themes related to structural

barriers such as themes highlighting the impact of inflation

on basic needs such as food, transportation, and lifestyle.

By synthesizing these themes, the researchers generated a

holistic understanding of the financial challenges faced by

low-income households in the context of inflation. The

analysis conducted by the researchers not only shed light on

the lived realities of these families but also highlighted

potential avenues for intervention and policy reform.

Ultimately, thematic analysis served as more than just a

25
tool for data treatment — it became a pathway to empathy,

understanding, and social change. Through a rigorous

analysis by the researchers, they aimed to amplify the

voices of low-income households, shining a spotlight on

their struggles and advocating for solutions that promoted

economic justice and equity.

Ethical Considerations

Voluntary Participation

Following the proposal’s approval, the researchers sent

correspondence asking the relevant parties for permission to

carry out the study. The researchers guaranteed that every

volunteer received the highest level of respect and would

not suffer any damage. Participants were asked to

participate voluntarily, and even if they initially

consented, they were free to withdraw from the study at any

time.

Anonymity and Confidentiality

The participants’ confidentiality and anonymity were

guaranteed by the researchers. This covered participants’

anonymity, safe data storage, and keeping study results

private from the general public and unauthorized parties.

The Data Privacy Act of the Philippines (R.A. 10173: Data

26
Privacy Act of 2012) was generally observed during the

study’s procedures. Prior to each interview, the researchers

explicitly asked for permission to record the interview,

with a clear explanation that the recording helped ensure

accuracy and allowed for detailed analysis of their

responses. Participants were assured that all recordings and

data collected will remain confidential and was used solely

for research purposes.

Additionally, due consideration was given to

maintaining an appropriate degree of secrecy as well as

avoiding any false information, biased data portrayal, and

deceit or exaggeration regarding the purpose of this

research. Furthermore, the information gathered was only

utilized once, specifically for this study. After two years,

everything related to the equipment and tangible pieces of

evidence that the participants and researchers used was

burned and disposed of. Moreover, there was never any

offensive, discriminatory, or other unacceptable terminology

used in the research’s instruments or paraphernalia. The

researchers did not accept any activities that might steal

the knowledge products of others, and all other authors’

works were properly acknowledged and cited. Before the

activities were carried out, the participants were consulted

27
and all of the aforementioned ethical issues were included

in the tools.

CHAPTER III

Presentation, Analysis, and Interpretation of Data

Inflation has become a relentless force, squeezing the

budgets of many, but particularly those living below the

poverty line. This research delves into the world of low-

income households, exploring the ingenious and often

difficult strategies they employ to navigate the rising cost

of living.

Through a series of interviews with households around

Barangay Caluttit, Poblacion, Bontoc Ili, and Samoki,

several themes emerged, shedding light on the realities of

budgetary constraints and the adaptive measures employed by

these households. The responses highlight both the economic

28
strain they face and the creative, resourceful ways they

attempt to minimize the impact of inflation.

Economic strain faced by low-income households in the face

of inflation

Stagnant Income and Reduced Purchasing Power

Purchasing power determines how much goods and services

can be bought with a set amount of money. Participants

reported a decline in their ability to purchase the same

amount of goods and services as before. Many participants

mentioned that despite their efforts to stick to a budget,

the rising cost of goods has rendered their previous budget

plans insufficient, reflecting how inflation erodes their

purchasing power. An announcement from the BSP which can be

located in the study’s background aligns with it because it

stated that the rise in prices, especially for essential

food items like rice, and meat, additional pressure on the

budgets of those who were already struggling, like those

low-income households, to cover their basic needs. This

further aligns with economic research, which shows that when

prices increase without corresponding wage growth, consumers

must spend more to maintain the same lifestyle. For

instance, statements like, “Nginmina amin nan malakuan, adi

29
ngumina nan lagbo.” (The cost of goods is high, but wages or

salaries are not increasing.) supports this.

The theme of declining purchasing power is further

underscored by specific examples from the participants’

responses. One participant noted that what they used to buy

with 100 pesos now buys significantly less; for example,

where they once could buy a tray of eggs, they can now

afford only a dozen, “For instance, nandi umala ka si

itlog. Dati makaala ka si one tray. Sinan di nginminaan na,

per dozen et na lang nan alam, uray nan commodity sin

kusina nan rice kagtudi makaala ka si esang kagtudi

makurang nan bayad.” This experience is a common

manifestation of inflation, where the same amount of money

loses value, reducing how much can be bought over time.

Another participant emphasized that even with a seemingly

substantial 10,000-peso monthly budget, they are now finding

it insufficient to cover basic expenses, “Kurang tupay nan

10,000 ay budget sinan 1 month nu tutuusen.” These

narratives not only support the literature’s findings on

inflation but also illustrate the immediate, practical

consequences of rising costs, as families struggle to meet

their needs without corresponding wage increases.

30
 The participants’ accounts of reduced purchasing power

due to inflation align with the observations presented on a

Business Mirror article as noted in the literature. The

article highlights how inflation increases the cost of

essential goods and services, disproportionately affecting

low-income households and those with limited incomes. This

aligns directly with the experiences shared by the

participants, confirming the significant impact of inflation

on their financial well-being.

A report also from the World Bank further strengthens

the validity of the findings. As stated in the report,

rising prices cause households to lose purchasing power and

experience food insecurity. As the true value of a

household’s income declines, individuals can only afford to

buy fewer items. The article further states that rising

inflation has a negative impact on low-income households,

reducing their purchasing power and increasing food

insecurity. As essentials prices grow faster than income,

some families struggle to meet their basic needs. While

household incomes may rise slightly, they frequently do not

keep up with inflation, resulting in a decrease in real

income. This circumstance makes low-income households

especially vulnerable, as they spend a bigger share of their

31
budgets on necessities and lack the financial flexibility to

deal with growing costs.

Overall, the combination of stagnant wages and rising

costs has had a direct impact on their daily lives. Each

purchase feels more limited, as families have to choose

carefully and forego items they previously could afford.

This shift puts a constant strain on household finances and

creates a cycle of worry and difficult decisions as families

navigate their monthly expenses with reduced purchasing

power.

Reduced Quality of Life

For many, the increase in prices has forced them to

lower their standard of living. One participant expressed

that while their table used to be full of snacks or variety

of foods, it now appears bare much of the time, saying,

“Icite ko iti lamisaan ta anya ngay ket isu ti main nga

pangkitaan gamin ti budget. Idi haan pay nga nginmato ti

kwa, atleast makakabilan pay dayta ti kaykayat da.” This

shift symbolizes the loss in the little comfort’s families

used to enjoy and signals a direct reduction in their

quality of life. The meals they prepare have become simpler,

as they can no longer afford to include as much variety.

32
 Furthermore, families cannot purchase the items they

want as they used to, which has led to dissatisfaction and

stress. “Adi et malakwan na layden,” another participant

explained, noting that what used to be an occasional treat

is now seen as a luxury. Overall, these changes represent a

clear reduction in living quality, as families adapt to a

lifestyle of more restrictions, fewer choices, and simpler

meals, despite putting in the same effort to make ends meet.

Adaptation strategies to cope with financial strain

Reducing Expenses

In response to financial strain, many participants have

made a conscious effort to reduce non-essential spending,

focusing only on their most basic needs. By identifying and

cutting unnecessary expenses, such as dining out, and other

discretionary purchases, they are able to better manage

their limited resources, “Ti icostcut mo dagijay da man

madamdama ya sapatos, madamdama ya kasjay, isunga ada

metlang kadatayo nga agtutungtung nga kastoy, haan puro nga

ag-ala kayu ti kastoy, tay mabawasan ti ibirok ngay tapno

maawatan yu nga uubing tay shempre mamisunderstood yu nga

naimut en ni mama tatta kasjay.” This aligns with Pascual’s

(2022) findings placed in the literature of the study that

low-income households prioritize basic needs over desires

33
during financial constraints. Some participants have also

adapted finding lower-cost alternatives, such as

substituting chicken for pork due to its lower price or

choosing to walk instead of paying for transportation,

“Kaanen nan medyo adi kasapulan hehehe. Kanig nan going out

ya tah isukapay nan hahaha. Instead of intricycle ta, walk.

And instead of a ready-made ay tinapay, in uto tat angkay

si shadkit. Instead of karnen ti baboy, karnen ti manok ta

nabababa.” This aligns with the study of Census Bureau’s

Household Pulse Survey which was according to them, because

of the strong impact of inflation on low-income households,

as they allocate a larger share of their income to essential

needs, they already tend to purchase the most affordable

items available. These lifestyle adjustments, including

planting vegetables in home gardens instead of decorative

plants, demonstrate a proactive approach to financial

management, where participants maximize their existing

resources to stretch their budget further, “Isunga inmula

ak garud iska rooftop to minimize spending much. In garden

ak isunga kinaan ko na sabsabong, vegetable et na ipey ko.

That is to minimize spending money.” This aligns with

Kumar’s (2023) emphasis on adaptability, as participants

show resilience by growing food for household consumption,

reducing reliance on market prices for vegetables. This

34
approach reflects a sense of resourcefulness and

prioritization, as they focus on ensuring essentials while

cutting back on luxuries and convenience items.

This theme shows a shift from spending on wants to

focusing only on essential needs, putting importance on

saving money and being careful with spending. By only

withdrawing the budgeted amount from the bank or buying

groceries in smaller quantities, as one of the participants

said during the interview, they are able to control their

cash flow more effectively. The statement, “Nu sinu lang

nan budgeted amount, siya lang na e-withdraw ken bawasan et

na marketen” supports this. Such conscious spending habits

illustrate how the participants are re-evaluating their

priorities and making lifestyle changes that better align

with their financial capabilities, showcasing their

resilience and willingness to adapt under economic pressure.

The study of Gafurdjan (2024) aligns closely with the

theme, reducing expenses, by explaining how inflation has

led consumers to change their spending patterns. According

to his study, as prices rise, consumers shift their focus to

essential goods and services, like food, housing, and

healthcare, and cut back on non-essential items. This

behavior reflects the same cost-cutting efforts described in

35
the theme, where participants limit non-essential expenses

and find ways to save, such as buying cheaper alternatives

and only purchasing what they need. Gafurdjan’s study also

mentions that consumers have adjusted their spending habits

by prioritizing necessities, similar to the proactive

approach of managing finances in the theme, reducing

expenses. Both the findings in the study of Gafurdjan and

the responses from the participants show a shift toward

minimalism and frugality, as people try to cope with the

reduced purchasing power brought on by inflation.

By triangulating the interview results with the

perspectives presented on an ablison article, a clearer

picture emerges of how consumers are adjusting to rising

prices. As stated in the article, reducing expenses is one

of the strategies that individuals and organizations may

take to maintain their purchasing power during inflationary

periods. It was highlighted that cutting your spending can

help you keep your purchasing power during periods of

increased inflation. This can be accomplished by limiting

leisure spending, shopping for deals, and minimizing debt.

Family Support and Government Assistance

The idea of asking family members or close social

networks for help in handling financial challenges is in

36
line with the background of the research. According to

studies cited in the study's background, including those by

Wu and Eamon (2007), low-income households frequently turn

to their family and community networks for financial

support. This is consistent with interviewees' statements

that they received help from parents, in-laws, kids, and the

government. Some participants even mentioned, “Tumulong met

piman nan parentes ko.” These support systems serve as

safety nets, protecting against the pressures of inflation.

In addition, one participant stated, “Nu maid paylang nandi

pension ko, dak i anuk- a ken chaicha. Kag in ibaga lang,

kag suportaran lang nan di mailako ka agas ko.” Another

shared, “Wen, waday san esang ay anak koy wadad Tarlac.

Kinsinas, tapos anggay inpawpaw-itan na, kag anggay

pangsuposop.” Another one said, “Labor nansi asawak. Shadi

lang nan anuk- a, tapos nu maminsan, tumut-ulong si

katugangak ken dakami.”

In addition to family help, some households benefit

from government programs like the Pantawid Pamilyang

Pilipino Program (4Ps). This program designed to assist low-

income families, provides essential support that helps them

cover basic needs. As one participant mentioned, “Miyembro

ak san 4Ps et makatulong met piman karu sinan usaren si

kids ko ay pangskwela da.”

37
 Overall, this reliance on family and government

assistance reflects a need for a safety net that can help

families bridge the gap between their limited income and the

rising cost of living. This support helps lessen the burden

of inflation, allowing families to access food, utilities,

and other necessities despite ongoing financial constraints.

The literature also highlights the significance of

family support networks by pointing out that low-income

households with few cash savings are more at risk during

inflationary times. Family members' collaboration enables

participants to deal with inflation-related difficulties

without incurring excessive debt or making drastic budget

cuts. Social support is crucial for fostering resilience in

low-income households, as evidenced by the literature and

interview data, which emphasize the importance of social and

familial networks in preserving financial stability,

especially during difficult economic times.

Additional Income

Despite advancements in reducing poverty, many still

continue to seek additional sources of income to support

their financial needs. And even if they are employed, their

income is not enough to meet their fundamental necessities.

38
 Some participants from the interview mentioned that

they seek additional income to offset the impact of

inflation. They mentioned taking on sideline jobs to

supplement their primary income, a method supported by

Brackertz’s research, which notes the importance of income

diversification in managing financial pressures (Brackertz,

n.d.). For instance, one participant works in hog processing

and seeks more affordable live-weight pork, while others

rely on side jobs to cover rising costs, “Inparpartidor si

futog, umanap ak si nalaka ay liveweight.” This proactive

approach reflects their resourcefulness, as they leverage

their skills to bring in extra income while balancing family

responsibilities.

Supported by the study’s literature, Pascual (2022)

stated that low-income households frequently employ a

variety of methods to supplement their income to make ends

meet. It was also highlighted from Abraham’s (2022) study

the importance of side jobs as additional source of income

for low-income households which coincides with the

participants statements that aside from cutting back some of

their expenses, they need to look for additional source of

income to be able to sustain the daily necessities of the

household.

39
 This proactive strategy for generating more revenue

demonstrates adaptation and resilience in the face of

financial difficulties. Despite the rising cost of goods and

services, individuals can keep a more stable budget and

partially counteract the inflationary effects on their

spending power by obtaining additional income. Households

with multiple income sources are better positioned to cover

their basic needs, demonstrating the importance of

additional income streams, as stated on Alex’s (2023) study

on Household Income Diversity.

General Thriftiness

A general thrifty mindset was demonstrated by the

commitment to saving and prudent spending made by several

participants. They make sure that every peso is spent

carefully, optimizing value and cutting waste, by embracing

a more economical way of living. This frugal mindset

frequently incorporates elements of the other themes, like

cutting costs, locating extra revenue streams, and asking

for family help. It represents a comprehensive approach to

money management in which individuals make wise decisions in

many facets of their lives.

General thriftiness emerged as a prominent theme, with

participants adopting practices to minimize waste and

40
maximize the utility of resources. Some described cutting

out snacks, buying only essential items, and making do with

less to save money. This is consistent with Jayashankar and

Murphy's (2023) findings that low-income households tend to

prioritize cost-effectiveness, stretching every peso as much

as possible during inflation.

Participants also focused on mindful consumption and

cost-cutting by sticking to budgeted amounts and avoiding

impulsive purchases. They expressed a preference for walking

instead of paying for transport and emphasized the

importance of only buying what they could afford. Through

these small, everyday adjustments, participants demonstrate

discipline, recognizing that even minor savings add up over

time. Such thriftiness highlights households’ commitment to

managing limited resources and sustaining their financial

well-being amid rising costs which was then highlighted in

the study of Murphy and Jayashankar.

Findings and Discussion

Comprehensive Budgeting Framework for Low-Income

Households

41
 In response to the themes identified from participant

responses, this budgeting framework is proposed to assist

low-income households in managing the financial strain of

inflation. The framework builds upon strategies such as

reducing expenses, generating additional income, practicing

thriftiness, and utilizing social support networks.

1. Essential Spending Prioritization and Expense Reduction

Prioritizing basic needs and reducing non-essential

expenses can help low-income households stretch their

limited resources. Participants shared how they managed

spending by focusing on essentials, which supports findings

from Pascual (2022) that show low-income households tend to

prioritize necessities during financial challenges.

 Identifying Needs vs. Wants:

Households should distinguish between essentials (like

food, housing, utilities) and non-essentials (such as

entertainment or personal care). Many participants in

the study reduced expenses on non-essentials, like

dining out, to save money for more important needs.

 Setting Limit on Essential Expenses:

Establishing clear spending limits, such as setting

aside no more than 30% of income for rent, helps

42
 households stay within their budgets and avoid

overspending.

 Simple Cost-Saving Practices:

Participants shared ways to reduce overall expenses,

like buying groceries in smaller amounts to better

control cash flow or walking instead of paying for

transportation. One of the participants mentioned,

“Only buy the budgeted amount and look for cheaper

options,” reflecting the need for mindful spending

during tough times.

1. Finding Extra Sources of Income

Increasing income has proven essential for households

dealing with inflation. Some of the participants took on

side jobs to supplement their main income, showing the

importance of having multiple income streams, as noted by

Brackertz (n.d.).

 Encouraging Side Jobs and Freelance Work:

Taking on side jobs, such as selling handmade goods or

offering services within the community, boosts financial

security. For instance, one participant mentioned doing

hog selling/pork selling and finding cheaper prices on

live weight to save money.

43
  Using Community Opportunities:

households in rural or community-centered areas can

explore options like gardening or selling local products

that require minimal investment. Participants who grew

vegetables in their backyards reduced their need to buy

produce, saving money.

 Using Skills for Small Businesses:

Applying skills for small businesses allows households

to earn extra income without needing a large

investment. Participants’ sideline jobs offer

additional financial help, supporting their efforts to

meet rising costs.

2. Practicing Thriftiness and Careful Spending

Thriftiness and mindful spending emerged as key

strategies, as participants focused on minimizing waste and

making the most of limited resources. This shift toward

cost-saving habits aligns with findings from Jayashankar and

Murphy (2023), which show that low-income households tend to

prioritize thriftiness in difficult times.

 Setting a Strict Budget:

44
 Households were encouraged to withdraw only the amount

budgeted for specific periods to avoid impulsive spending.

For instance, one participant shared, “Only withdraw the

budgeted amount from the bank,” a habit that helps them stay

within their limits.

 Reducing Waste and Being Resourceful:

By reusing items, cooking at home instead of eating

out, and buying bulk essentials, households reduce

waste and save money. Participants consciously chose

ways to get the most value for every peso.

 Choosing Affordable Alternatives:

Some participants saved by opting for cheaper options

(like chicken instead of pork) and walked instead of

paying for transport. This habit of choosing less

costly alternatives helps minimize unnecessary

expenses.

3. Seeking Help from Family, Friends, and Community

Programs

Getting support from family, friends, or government

programs provides essential relief for households struggling

financially. Many participants shared how they relied on

family or social networks to help cover costs, echoing

45
findings by Wu and Eamon (2007) on the importance of social

support for low-income families.

 Relying on Family and Community Support:

Family assistance can act as a safety net in tough

times. Several participants shared that they received

financial help from relatives, such as parents or

children, to cover basic needs. For instance, one

participant noted, “They were supported by their

children,” and others split expenses with family.

 Using Government or Community Aid Programs:

Households should explore government support programs,

like the Pantawid Pamilyang Pilipino Program (4Ps),

which provide financial help to low-income households.

They could also explore programs from other government

agencies which offer livelihood and cash-for-work.

 Creating Mutual Support Networks:

It is evident how community support networks, like

trading goods or services with neighbors, help

households meet their needs without spending cash.

These relationships provide valuable support and reduce

financial strain.

4. Building Financial Awareness and Learning Budgeting

Skills

46
 Improving financial knowledge helps households make

smarter budgeting choices and respond better to economic

changes. This framework encourages low-income households to

build budgeting skills and regularly review their spending

habits to improve over time.

 Basic Budgeting Skills:

Learning the basics, like setting limits on spending,

prioritizing essentials, and understanding the

difference between needs and wants, is important.

Community workshops can help households learn practical

skills for managing their money.

 Reviewing and Adjusting Budgets Regularly:

Regularly reviewing expenses helps households track

their spending and find areas to save. Adjusting the

budget as financial situations change helps households

stay prepared for unexpected costs.

 Saving for Emergencies:

Although challenging, households should aim to save a

small amount for emergencies. Even modest savings can

help avoid high-interest debt and provide some security

during financial hardships.

This budgeting framework provides practical ways for

low-income households to handle inflation effectively. By

47
focusing on essential expenses, finding extra income,

practicing thriftiness, seeking support, and building

financial awareness, households can work toward greater

financial stability. This framework reflects the study’s

findings and offers recommendations to help low-income

households maintain their living standards despite inflation

CHAPTER IV

Conclusion and Recommendation

48
 Conclusion

This study shows that inflation has made it harder for

low-income households in Barangay Caluttit, Samoki,

Poblacion, and Bontoc Ili to buy what they need. As prices

go up but wages stay the same, families have a tougher time

affording basic items like food and household goods. Many

families in these areas have had to change their spending

habits, giving up certain foods or buying less of them, to

keep within their budget. This situation reflects the daily

struggles these households face as they adapt to rising

costs with very limited resources.

The research also highlights the smart and creative

ways families adjust to cope with this financial strain.

Many have cut down on unnecessary expenses and found cheaper

options, like replacing pork with chicken or planting

vegetables at home to avoid paying high market prices. These

small, thoughtful changes help them manage limited money

more effectively. By focusing on the essentials and sticking

to careful budgeting, these households show that even

simple, practical steps can make a difference in dealing

with financial hardships.

Then, family support and side jobs play a key role in

helping these households make ends meet. Many rely on

49
relatives for financial help or take on extra work to cover

rising expenses. This support system shows how strong family

bonds and community ties can provide a much-needed cushion.

The combination of support, small side jobs, and careful

spending makes it possible for these households to survive

difficult times and reveals ways that communities can work

together to support each other.

Ultimately, the proposed budgeting framework offers a

practical approach that builds on these findings, aiming to

help low-income households better manage financial

challenges brought by inflation. By categorizing spending,

setting strict budgets, and finding extra sources of income,

households can take a more proactive approach to managing

their finances. Each part of the framework, including

focusing on essentials, generating additional income, and

reducing waste, was inspired by real-life practices shared

by participants, making it both relevant and realistic for

low-income households.

Recommendations

50
1. Organize a series of seminars and workshops, initiated

by the Department of social Welfare and Development

(DSWD) and other relevant agencies, specifically

targeting low-income households and earners. These

programs should emphasize topics on financial literacy

(such as basic financial concepts, understanding

inflation and practical financial skills).

2. Disseminate the use of comprehensive budgeting

framework tailored to the specific needs and challenges

of low-income households.

51
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https://news.abs-cbn.com/news/09/17/20/who-are-

identified-rich-poor-govt-shows-income-class-brackets-

in-ph

Wu, Chi-Fang and Eamon, Mary Keegan. (2007). "Public and

private sources of assistance for low-income

households," The Journal of Sociology & Social Welfare:

Vol. 34: Iss. 4, Article 7.

55
APPENDIX A
INTERVIEW GUIDE QUESTIONS

Part 1: Challenges

1. Please tell me the ways by which the increase of prices

has affected your budget.

Apay mabalin kadi nga ibagayo dagiti wagas a nakaapektar ti

panagngato dagiti presio iti badyetyo

1.1. So, what did you do to minimize these effects?

Gapuna, ania ti inaramidmo tapno maksayan dagitoy nga

epekto?

1.2. Was it effective in helping you deal with your

everyday expenses?

Epektibo kadi dayta a nangtulong kenka a mangtaming

kadagiti inaldaw a gastosmo?

Part 2: Budgeting Strategies

1. From the constant price increase of goods and services,

how are you managing your finances?

Manipud iti kanayon a panagngato ti presio dagiti tagilako

ken serbisio, kasano ti panangtarawidwidmo iti pinansialmo?

56
 1.1 In managing your finances, how do you prioritize

your expenses on the basic necessities? And other

expenses?

Iti panangtarawidwidmo iti pinansialmo, kasano nga

ipangpangrunam dagiti gastosmo kadagiti kangrunaan a

kasapulam? Ken dadduma pay a gastos?

2. Please describe to me your ways of budgeting your

finances.

. Apay mabalin kadi ngaa iladawam kaniak dagiti wagas ti

panagbadyetmo iti pinansial.

2.1 Which of these is the most effective?

Ania kadagitoy ti kaepektibuan?

2.2 Which of these is the least effective?

Ania kadagitoy ti saan unay nga epektibo?

57
 APPENDIX B

LETTER TO THE MAYOR

58
 APPENDIX C

LETTER TO THE BARANGAY CAPTAIN

59
 APPENDIX D

LETTER TO THE PARTICIPANTS

June 2024

Dear Participants:

We, the researchers, enrolled in Bachelor of Science in

Business Administration major in Financial Management at

Mountain Province State Polytechnic College, are currently

conducting a research study entitled, Surviving Below the

Line: A Study of Budgeting Strategies Among Low-Income

Households.

In this study, we aim to determine how low-income households

budget their money as basis for creating a framework that

will help the researchers develop a plan to reduce the

effects of inflation to you. The researchers will personally

conduct the interview. You have the absolute right to

decline participation at any moment. We appreciate you

taking the time to help us with this.

In this regard, may we ask you to be one of our informants?

We will interview you at your most convenient time in a

60
place of your choice. We assure you that your identity as an

informant will not be revealed in any part of our

manuscript.

Sincerely,

Crysten Joy S. Cafay et, al.

Researchers

Noted by:

Jenifer N. Damayan
Research Adviser

61
 Appendix E

Comprehensive Budgeting Framework

Essential Spending and Additional Income

Expense Reduction Generation

•Side Jobs
•Identify Needs vs.
Wants •Community
Opportunities
•Set Budget Limits
•Small Business
•Cut Unnecessary Costs Ventures

Comprehensive Budgeting Framework for Low-

Income Households

Thriftiness and Seeking Support

Mindful Consumption

•Family
•Spend Carefully
Assistance
•Reduce Waste
•Government
•Use Lower-Cost Help
Options
•Community Aid

62
 Curriculum Vitae

Crysten Joy S. Cafay

ADDRESS: Maligcong, Bontoc, Mountain Province

PERSONAL INFORMATION
Date of Birth: November 03, 2002
Age: 21
Place of Birth: Maligcong, Bontoc, Mountain Province
Civil Status: Single
Sex: Female
Nationality: Filipino
Religion: Jehovah’s Witnesses

EDUCATIONAL BACKGROUND
Tertiary: Mountain Province State Polytechnic College
Bontoc, Mountain Province
S.Y. 2020 – Present
Secondary: Mountain Province General Comprehensive High
School
Poblacion, Bontoc, Mountain Province
S.Y. 2014-2018

All Saints Mission School

Poblacion, Bontoc, Mountain Province
S.Y. 2018-2020
General Academic Strand

Primary: Maligcong Elementary School

Maligcong, Bontoc, Mountain Province
S.Y. 2008-2014

63
_________________________________________________________
SEMINARS AND TRAININGS
2023 Trading 101: Exploring Derivatives and
Avoiding Investment Pitfalls
Mountain Province State Polytechnic College

64
 Curriculum Vitae

Jennifer A. Cawayan
ADDRESS: Gonogon, Bontoc, Mountain Province

PERSONAL INFORMATION
Date of Birth: December 4, 2001
Age: 22
Place of Birth: Gonogon, Bontoc, Mountain Province
Civil Status: Single
Sex: Female
Nationality: Filipino
Religion: Anglican

EDUCATIONAL BACKGROUND
Tertiary: Mountain Province State Polytechnic College
Bontoc, Mountain Province
S.Y. 2020– Present

Secondary: Sabangan National High School

Tambingan, Sabangan, Mountain Province
S.Y. 2014- 2018

XiJEN College of Mountain Province Inc.

Upper Caluttit, Bontoc Mountain Province
S.Y. 2018- 2020
Accountancy, Business, and Management

Primary: Gonogon Elementary School

Gonogon, Bontoc, Mountain Province

65
 S.Y. 2008- 2014
___________________________________________________________

SEMINARS AND TRAININGS

2023 Trading 101: Exploring Derivatives and

Avoiding Investment Pitfalls
Mountain Province State Polytechnic College

66
 Curriculum Vitae

Marina T. Ciano
ADDRESS: Tetep-an Sur, Sagada, Mountain Province

PERSONAL INFORMATION
Date of Birth: February 16, 2002
Age: 22
Place of Birth: Bontoc, Mountain Province
Civil Status: Single
Sex: Female
Nationality: Filipino
Religion: Roman Catholic

EDUCATIONAL BACKGROUND
Tertiary: Mountain Province State Polytechnic College
Bontoc, Mountain Province
S.Y. 2020 – Present

Secondary: Antadao National High School

Antadao, Sagada, Mountain Province
S.Y. 2014-2018

Ankileng National High School

Ankileng, Sagada, Mountain Province
S.Y. 2018-2020
Accountancy, Business and Management

Primary: Tetep-an Elementary School

Tetep-an Sur, Sagada, Mountain Province

67
 S.Y. 2008-2014
___________________________________________________________
SEMINARS AND TRAININGS
2021 Parliamentary Procedure and Resolution
Making: Making Meetings More effective
Benguet State University
2023 Tax Compliance of Small – to – medium
Enterprises and Professionals
Mountain Province State Polytechnic College

Experience
2020 Work Immersion
Sagada Multi-Purpose Credit Cooperative
Poblacion, Patay, Sagada Mountain Province

68
 Curriculum Vitae

Hannah Mae Y. Maskay

ADDRESS: Dalican, Bontoc, Mountain Province
PERSONAL INFORMATION

Date of Birth: March 6, 2002

Age: 22
Place of Birth: Baguio City
Civil Status: Single
Sex: Female
Nationality: Filipino
Religion: Anglican

EDUCATIONAL BACKGROUND
Tertiary: Mountain Province State Polytechnic College
Bontoc, Mountain Province
S.Y. 2020 – Present

Secondary: Dalican National High School

Dalican, Bontoc, Mountain Province
S.Y. 2015-2018

Mountain Province General Comprehensive High

School
Bontoc, Mountain Province
S.Y. 2018-2020
General Academic Strand
Primary: Doña Aurora H. Bueno Elementary School
Camp 8, Baguio City
S.Y.2009-2015

69
___________________________________________________________
SEMINARS AND TRAININGS
2021 Investment Pitfalls
Mountain Province State Polytechnic College
2023 Philippine Taxation Seminar: Current Issues
in Philippine Taxation

Achievement
2023 Civil Service- Professional Eligibility

70
 Curriculum Vitae
Garlene T. Poc-oran
ADDRESS: Poblacion, Sadanga, Mountain Province
PERSONAL INFORMATION
Date of Birth: May 30, 2002
Age: 21
Place of Birth: Bontoc, Mountain Province
Civil Status: Single
Sex: Female
Nationality: Filipino
Religion: Roman Catholic

EDUCATIONAL BACKGROUND
Tertiary: Mountain Province State Polytechnic College
Bontoc, Mountain Province
S.Y. 2020– Present

Secondary: Sadanga National Technical-

Vocational Skills Training High School
Poblacion, Sadanga, Mountain Province
S.Y. 2014-2020
Accountancy, Business and Management

Primary: Sadanga Central School

Poblacion, Sadanga, Mountain Province
S.Y. 2008-2014
___________________________________________________________
SEMINARS AND TRAININGS

2023 Tax Compliance of Small – to – medium

Enterprises and Professionals
Mountain Province State Polytechnic College

71
 Curriculum Vitae

Melanie M. Tayab
ADDRESS: Maligcong, Bontoc, Mountain Province

PERSONAL INFORMATION
Date of Birth: November 13, 1997
Age: 26
Place of Birth: Baguio City
Civil Status: Married
Sex: Female
Nationality: Filipino
Religion: Roman Catholic

EDUCATIONAL BACKGROUND
Tertiary: Mountain Province State Polytechnic College
Bontoc, Mountain Province
S.Y. 2021 – Present

Secondary: Cagubatan National High School

Cagubatan, Tadian, Mountain Province
S.Y. 2010 - 2014

Primary: Banaao Elementary School

Banaao, Tadian, Mountain Province
S.Y. 2006 – 2010
Mankayan Elementary School
Mankayan, Benguet
S.Y. 2004 – 2006

72
___________________________________________________________

SEMINARS AND TRAININGS

2018 GAD Leadership Training and Seminar

Geston Resort, Mainit, Bontoc, Mountain
Province
2021 Homestay Training
Ridgebrooke Hotel & Restaurant, Bontoc
2023 Trading 101: Exploring Derivatives and
Avoiding Investment Pitfalls
Mountain Province State Polytechnic College

Achievement
2010 Class Valedictorian
2014 3rd Honorable Mention
2023 Civil Service – Professional Eligibility

73
 Curriculum Vitae

John Michael C. Vicente

ADDRESS: Samoki, Bontoc, Mountain Province

PERSONAL INFORMATION
Date of Birth: September 16,2002
Age: 21
Place of Birth: Lagawe, Ifugao
Civil Status: Single
Sex: Male
Nationality: Filipino
Religion: Baptist

EDUCATIONAL BACKGROUND

Tertiary: Mountain Province State Polytechnic College

Bontoc, Mountain Province
S.Y. 2021 – Present

Secondary: San Francisco High School

Lamut, Ifugao
S.Y. 2015-2020
Humanities and Social Sciences

Primary: Lamut Central School

Lamut, Ifugao
S.Y. 2013-2014

74
___________________________________________________________

SEMINARS AND TRAININGS

2023 Trading 101: Exploring Derivatives and

Avoiding Investment Pitfalls
Mountain Province State Polytechnic College

75