Financial Literacy and Self-Control as the Predicting Variables to the Financial Behavior of Senior High School Students

Abstract

This study dealt with the financial literacy and self-control, as predictors to financial behavior among Senior High School students. The primary goal of the study was to determine the level of financial literacy, self-control, and financial behavior in terms of their respective indicators, what domains of financial literacy and self-control substantially influence financial behavior. Also, this study utilized a quantitative-correlational design with 221 respondents among Senior High School students. The average weighted mean, Pearson R, and multiple regression analysis were the statistical tools used in this study. Along with this, results showed a high level of financial literacy among Senior High School students in terms of saving, budgeting, and investing. On the other hand, the results also showed a high level of self-control among Senior High School students in terms of inhibition, initiation, and continuation. Likewise, results showed a high level of financial behavior among Senior High School students regarding saving behavior, spending habits, and financial goal setting. In addition, there is a low correlation, and a significant relationship between financial literacy and financial behavior. Furthermore, there is a high correlation, and a significant relationship between self-control and financial behavior. Hence, this leads to the rejection of the null hypothesis. Saving, budgeting, and investing as domains of financial literacy have a significant influence to financial behavior. Additional, inhibition, initiation, and continuation as domains of self-control have a significant influence to financial behavior. These results helps the student know that their financial behavior or anything financial-related could be incorporated in their academic and non-academic journey.