Angela Roquero

CHAPTER 1 INTRODUCTION Background of the study Money plays a vital role in every person’s life. It helps most people to achieve life goals and dreams. It helps an individual to get some lives intangible – freedom or independence. With money, much good can be done and much unnecessary suffering avoided or eliminated (Ganeshan, 2010). With the challenges brought by the world, on student on their studies, students have to know the proper allocation of their money or the budgeting of their allowances, and their spending behavior can affecting them. According to Walker, “Money is that what money does”. It has a lot of function and is very important. People used this mainly for transactions and consumptions and that is to satisfy the needs and wants. People serve money as an important tool. People can do a lot of things through money. People tend to realize the importance of money because of the fact that in social, economic and in all of the other activities, there is always an encounter of money. It is a great manipulative tool for it can do anything to people, and in turn people do anything to have this, and only wise people truly knows the value of it. Money makes everything convenient but it also depends on how a person accounts his or her money as problems arises. Money can either be beneficial to an individual or sometime as a way to the individual to be in a crisis situation. A lot of things can be involved when talking about money. Person may be involved, one of that is family, not only family but also studies is involved. There is still things that is involved. When talking about money, people always think about the importance of it. For student money is tool a helpful tool in times that there will be a lot of projects needed, they should have a proper allocation of their money. People think that money is the central part of their life. They can do whatever they wanted to do through money, one can be superior. Money can be a helpful depend on how a person use it. A person should know how to use the money especially when problem arises. Money is beneficial to an individual. “Supply of money is limited in this world but the demand of money is unlimited. Hence, money which is a solution of all problems actually becomes the root of all problems for most people and most people fail to strike a balance between earning and enjoying money.” The factors that greatly affect this is, because of poor budgeting skills and bad spending behavior (Singh, 2015). If money could not manage properly instead that money is one tool for one’s satisfaction it could be the reason of the some problem. Investing or saving money is important to each person, not only for those who worked but also for those students also, people tend to enjoy money without having some plans for their future. Spending behavior is defined as the act of disbursing money in response to an action, environment, or person in the satisfaction of needs and wants (Essays, 2013). Wilson (2005) stated that consumer spending behavior is strongly influenced by four factors: cultural factor (culture, sub-culture, and social class), social factor (groups, family, roles and status), personal factor (age and life cycle stage, life-styles, occupation, economic situation, personality and self-concept) and psychological factor (motivation, perception, learning, beliefs and attitude). One factor also that could affect the spending behavior of an individual the level of education. It can be inferred from the said statement that spending behavior among students, most especially, those in the college level of education behaves differently since a lot of school needs must be complied, which also requires a huge sum of money, unlike adults who have more experiences and know how money really works, teenagers especially students tends to spend carelessly on unnecessary items and manage their money differently as they do not really know the value of money. There are many groups of students who does not have the proper allocation of their money, they do not engage on investing. As they go higher level in education, they start facing huge responsibilities, meeting different requirement in school that really need a huge amount of money. It is very challenging for students to have a proper money management. The challenging part is that they still have so many things to mind, they have their allowances but aside from that they have also their profit from micro business they have. Money allocation for rental fees, their transportation, food, and also their personal satisfaction. Spending behavior of students has a great influence in their financial well-being. If they know how to manage their money wisely, it would be helpful for them to be well prepared in getting to the “real world,” the stage wherein they are already working. According to the study of university of Brighton, Paying foe studies and your living cost may seem daunting at first, but organizing your student finance early and making budget that you can stick to will make a big difference. It is important to make sure that one should have enough money to attain their needs in school, one of it is their tuition fee, personal satisfaction, and other living expense. With their young age and lack of experience it might be really hard for them to budget and manage their money (De Guzman, Fojas, Inamac, Lee, Sangria, Tia, n.d). Students became independent on their own and some are dependent. Budgeting seems to be hard for them especially for those student who are not used to be alone. Budgeting plays a big part in their lives, it is also one of a training for them. Students staying with their parents than those who are staying in boarding houses have higher expenditure items (Bocales, 2010). In addition, food is regarded as the number one factor that consumes most of the students’ allowances (those who stay on boarding houses). There is a difference between those students who live with their parents than those who stay in boarding house. One can become more sensitive in spending allowance than the other. According to the life-cycle model, it is potentially rational to overspend while in college. The rationality behind deficit spending arises from the ability to calculate future periods of earning and saving in order to compensate for current and future spending. Many college students’ deficit spending pattern may be attributed to a lack of education about financial matters or having a lower incentive to follow a budget. Students, in this case, must follow their budget plan in order to meet all expenditure items they need. Therefore, the recent study aims to know the spending behavior and budgeting style of Entrepreneur students of Mindanao State University, General Santos City. Statement of the Problem This study aims to find out how students of Mindanao State University spend their daily allowances by conducting a survey. Specifically, the study sought to answer the following question. 1. What is the level of budgeting practices interms of a) Allocation Strategy b) Budgeting Method 2. What is the extent of spending behavior interms of a) Needs b) Wants 3. Is there a significant relationship between budgeting and spending behavior of entrepreneur students of the study. Hypothesis of the study: Ho: There is no relationship between the level of budgeting and spending behavior. H1: There is relationship between the level of budgeting and spending behavior. Scope and Delimination This study focused on budgeting strategy of students of Mindanao State University which determines their spending behavior. Out of approximately 8000 students of Mindanao State University, 50 students will be used as sample in conducting the survey. This study limits it’s coverage on the entrepreneur students of Mindanao State University only. Its main purpose is to identify the common problems about budgeting and their spending behavior and to propose solutions regarding these problems. This study covers every aspect of students’ personal information that has an impact on their budgeting skills and spending behavior like their gender, age, home location, course and social status. Each of the respondents are given same questions to answer. Significance of the Study The finding of the study will provide information on how students manage their budgeting and spending behavior in terms of their daily allowances for food and school needs. It is important to know how they manage their expenses in their limited allowances. This study proves that students can manage their daily allowances through their spending behavior and budgeting. This study was conducted to know how proficient the students in terms of saving their money. This study is important for it to benefit not only the students but also teachers or anyone who aims to improve their budgeting and behavior through spending their money. Definition of Terms BUDGETING – basically, it is making sure that you are spending less than earning and planning for both the short and long term (Fontinelle, 2017). Operationally, budgeting refers to students’ proper allocation of their allowances to expenses. SPENDING BEHAVIOR – Conceptually, spending behaviour is defined as the act of disturbing money in response to an action, environment, or person in the satisfaction of needs and wants (ukessay, 2015). Operationally, it pertains the routinely spending methods utilized by students. STRATEGY- according to Johnson and Scholes, strategy determines the direction and scope of an organization over a long time. Operationally, strategy is the way students budget their allowances and expenses. ENTREPRENEUR- Conceptually, it is a person who starts a business and is willing to risk loss in order to make money (Tobak, 2015). Operationally, it is Mindanao State University students who engage in business. STUDENTS- according to Collins it is a person who is studying at a school or college. Operationally, someone who is enrolled in Mindanao State University MONEY- Conceptually, it is a supply of a country consists of currency (banknotes and coins) and, depending on the particular definition used, one or more types of bank money (the balances held in checking accounts, savings accounts, and other types of bank accounts). Operationally, it plays vital role to an individual. NEEDS – Conceptually needs is a goods or services that are required. This would include the needs for food, clothing, shelter a health care. Operationally, it is one of a tool that a students can not live without. WANTS – Conceptually, it is a goods or services that are not necessary, still we desire or wish for. Operationally, it is an individual can live without. CHAPTER 2 REVIEW OF RELATED LITERATURE AND STUDIES Review of Related Literature Budgeting and Spending behavior of an entrepreneur students is more valuable nowadays. According to Fontinelle (2017), budgeting is a way of planning for both long and short term of allowance. Planning is totally discretionary, yet it's an essential segment of monetary achievement. It's not hard to execute, and it's not only for people especially the students who has a limited allowance. Planning makes it less demanding for people with livelihoods and costs of all sizes to settle on cognizant choices about how they'd like to allocate their money. “Spending behavior is defined as the act of disbursing money in response to an action, environment, or person in the satisfaction of needs and wants” (Essays, UK. 2013). As stated by Wilson, et.al, 2005 there are four factors in consumers spending behavior: Cultural factor, Social factor, Personal factor and Psychological factor that could help the consumers with their needs and wants. According to Northumbria University (2017), it is quite difficult for a student to budget their money especially when their daily allowance is very limited. Learning to live within a budget can alleviate some of the stresses, as well as reducing the levels of commercial and personal debt you may accrue. "Spending behavior has never been stable. It is dynamic and may differ from one generation to another." Presently, students has a big part in the country’s economy. Students’ personal success and academic success is depending on how they manage their finances but, if the student is lacking from financial management, there are possibilities that this is the reason why students cannot graduate, according to (Eskelson, 2005). There are many student who changed their prescriptions about money, it is said that majority of the students stated that money is very important because they cannot buy what they need if they do not have it. However, changing attitude of money can cause a big effect in students because of the "Premature affluence" because of their high amounts of discretionary funds with a concurrent small amount of bills (Norvilitis & Santa Maria, 2002). According to University of Minnesota (2017), there are some common methods of budgeting: Paper and pens: collect receipts and record expenses. Excel chart: track expenses using columns and rows in a way that works for you. Envelope method: have an envelope to each of your expenses and insert cash in each envelope to track how much money you have for each expense. Through this a student can develop their financial goals. Those ways in which student's wrist bindings their cash is dependent upon several factors, for example, such that age, identity traits, Furthermore learning (Norvilitis et al. , 2006). College students are in An exceptional circumstances on account of they have confined incomes that has higher expenses; therefore, they wrist bindings cash distinctively (Micomonaco 2003). Those additional information scholars need something like their budgetary obligation and status the more averse they are with a chance to be in debt (Norvilitis et al. , 2006). Over “Borrowing Against the Future: Practices, attitudes Furthermore, information for money related administration "around college students” Minomonaco figures school learners have a tendency not will need a plan or ascertain credit card bills In view of their real investing. For example, there might have been A huge sum of students that didn't realize they SES or what amount of they might owe clinched alongside learner advances when they graduate (Minomonaco 2003). Also, just 36% about scholars with kudos cards reported paying off their kudos cards bills month to month (Norvilitis et al. , 2006). Although, college students are concerned regarding their future monetary status; 67% for freshmen during a four - year. Universities alternately Europe, hypothetical orders had more distinction than difficult work, and speculative chemistry was need worries over paying their educational cost. This will be the highest amount of concern communicated over over A decade (Gordon 2010).There would numerous gatherings about scholars that collect Furthermore, recognize obligation differently, for example, how they utilized kudos cards. Ladies would less averse on report card Hosting a budget after that man (Norvilitis et al. , 2006). Be that as ladies additional habitually collect higher amount Mastercard obligation Also downright debt (Minomonaco 2003). Also, larger part students perceive themselves Concerning illustration All the more In control for their accounts over privileges of the minority people perceive themselves (Minomonaco 2003). A few variables didn't indicate contrasts in the amassing for debt, but perceptions shifted Around gatherings. Demographic variables, GPA, and number from claiming hours worked, didn't assume a part in the add up for debt obtained, but, scholars with a higher GPA or the individuals who functioned All the more were a greater amount worried regarding their monetary status (Norvilitis et al. , 2006). Done our study, we take a gander at those parenting plan placed set up Toward a little Midwestern liberal human experience school. Through 2007 learners were permitted boundless printing from campus computers. Starting in the fall of 2008, understudies were charged 4 pennies for every page printed from An camptosorus rhizophyllus workstation. . Learners were also provided for a printing recompense Gave Eventually Tom's perusing the school for 14 dollars, those proportional of 350 pages. At whatever printing again 350 pages the student would be accused 4 pennies for every page. Through a study we assess the transforms and behaviors from claiming learner printing Furthermore planning. The printing framework transformed for the classes of 2010 Also 2011 from boundless printing on Hosting a plan. For alternate two classified, those populations of 2012 and 2013, the plan might have been constantly On influence same time going to the college. We survey how those parenting plan influences these classes distinctively Furthermore figure out the implications of a printing budget, particularly against other spending habits. Investing by students are needed to be distinguished Similarly, as an important component from claiming aggregate purchaser using in the united states. The particular case showcasing firm estimated that “traditional” school students, i. E., full-time learners selected for four-year institutions, who representable something like one-third for every last bit students, used $23 billion in1995 with respect to vital Things, for example, rent, food, gas, auto insurance, tuition, Furthermore books. Another $7 billion might have been used with respect to nonessentials (Ring 1997). Investing in school people might be extremely critical with nearby communities because a significant number private university would vastly relatively of the size of their host community. These schools are frequently all the seen Similarly, as paramount players in the local economy through present using Also occupation Furthermore likewise Similarly, as potential catalysts to nearby investment improvement (Onear, 2007). A lot of people Europe, hypothetical orders had more distinction than difficult work, and speculative chemistry was brought led monetary effect investigations to measure the overall impact those foundation needs on the neighborhood economy (Bailey et al. , 2007; Beck, 1995; Eliot 1988; Felsenstein, 1996). The thing that will be here and there underplayed will be the role from claiming understudies over deciding those Generally speaking extent Furthermore industry blend of the local economy. Nearby budgetary effect investigations frequently utilizes figures for learner spending derived starting with auxiliary wellsprings for example, such that monetary help office estimates for the dollars required by people for incidental consumptions Throughout those quite a while. More precise majority of the data on the extent Furthermore, design of people using would improve the precision for investigations for universities’ budgetary sway. In this paper, we examine the using conduct technique of accepted college students, who represent an expansive bit of the incomes of Numerous local businesses Previously, little towns facilitating private schools. In spite of aggregate investing by person will be frequently less that of a nearby resident, learner investor has been concentrated Previously, recently a couple areas, for example, such that stimulation What's more sustenance Also beverage purchases done saves. Done addition, a lot of people national retailers see accepted college students Similarly, as a lucrative showcase since lifetime purchasing propensities need aid framed over part during A person’s school a considerable length of time. Using practices secured to school may continue through two movement phases: absolute to the adolescent wedded couple, Also a young married few will groups for little kids at home (Wilkes 1995). Evolving particular practices What's more societal patterns bring helped the common recognition for school people relying vigorously with respect to credit, got mostly with credit cards. The Normal school undergraduate’s Visa debt for 2001 was $2,327 of 2006 needed expanded in $2,700 (Young Money, 2007); nearly one-half of knowing understudies needed four alternately that's only the tip of the iceberg kudos cards (Hayhoe 2005). These changing attitudes at the utilization of claiming credit recommend that today’s school students are likely to use more than learners in the previous a direct result investing Toward today’s students will be leisurely compelled by present money that can have more benefits. Those primary motivations behind a significant number school understudy feel victimized person should Mastercard debt be on account of credit cards are unbelievably not difficult will acquire. Banks deceivingly need aid eager to make a hazard for college students a result, they expect the people will just aggravate base Mastercard installments, but carry Helter skelter debt loads (Hoover 2001). Likewise A result, Mastercard organizations win cash from the interest scholars would pay, What's more, they wind up paying that premium for quite a while – looking into average for around 15 quite some time (Hoover 2001). Following graduation, they are left paying learner advances What's more credit card bills, which abandons large portions understudies over challenging fiscal positions. In An investigation led by Hoover, E. (2001), A scholar says, “I felt embarrassed over Hosting place myself in that position, but I if never need been equipped will get the greater part the individual cards during such an adolescent age” (1). As stated by the sally Mae study in 2000, school undergraduates convey a normal about $2,748 On Visa obligation. MasterCard obligation helped In 120,000 people under the period of 25 documenting for insolvency in2000 (Hoover 2001). A study conducted by Sallie Mae proposed that 84% of college students have a credit card, and the average number of cards that are possessed is 4.6 (Robb and Pinto 2010). Yet another study proposed that 14% of students who possess a credit card carry a $3,000-$7,000 balance, and ten percent owed more than $7,000 (Roberts and Jones 2001). The same study also claims that 55% of students obtain their first credit cards during freshman year and 25% of students first used one in high school (Roberts and Jones 2001). Colleges all over the country have banned credit card marketers from campus spaces based on these staggering statistics and the concern for their students’ financial wellbeing. At the same time, many credit card companies have teamed up with college campuses that still allow them to solicit on campus (Hoover 2001). This scenario creates a contradiction in the minds of the student body in which they are told to be financially responsible, but are solicited by the same institution trying to launch them into adult life. An alternate reason scholars feel the urge to utilize kudos In this way generously is as a result the credit cards go about as an approach on make autonomy from guardians. Hoover (2001) writes, “When you get to college, kudos cards are a standout amongst the numerous routes about proclaiming… freedom from mother and Dad” (36). When school people get themselves under Mastercard debt after proclaiming this independence, it may be harder for them with getting crazy. “Students needed aid graduating from school with nearly twice Similarly, as much debt Likewise a decade ago” (Hoover 2001:35). School people today have been raised in a society the place investing may be praised and sparing may be gazed down upon (Roberts and Jones 2001). Understudies feel preferred over themselves What's more, their social great constantly On they can purchase things in hardware Furthermore architect apparel that raise their economic wellbeing. This may be an excellent sample from claiming arresting consumption, those acts of obtaining things essentially on display one’s riches (Brueggemann 2010). This mental Investigation Might illustrate the reason couple of individuals. Address school students’ entry to credit Also at times sways it. Conspicuous consumption might additionally impact students’ necessities to continually make buying things. What's more to not difficult entry will credit, significant factors On foreseeing school learner debt are if or not approaching first year recruit recently realize somebody who need been in obligation Furthermore if students would Monetarily instruct. Mature people satisfying good example positions, for example, such that parents, relatives Also, teachers, who likewise need aid in Visa debit, fortify the beliefs, attitudes and norms that overspending is worthy. An inclined Conclusion for this state of mind about overspending is compulsive buying, which need are being turned out with prompt Visa debt (Roberts What's more Jones2001). In light of An overview of scholars toward a private college in Texas, there is an expanding level of enthusiastic purchasing with each progressive era. At a Mastercard might have been available, students were less averse will spend, to use all the more, and partake Previously, enthusiastic purchasing more often over In a Visa wasn’t accessible. MasterCard utilization furthers the issue of compulsive purchasing. A greater part about school people convey A noteworthy add up for obligation because they need been brought up over a Mastercard the public arena the place debt is those societal standards (Roberts and Jones 2001). Interestingly, this fiscal freedom Also option doesn't constantly begin when students enter school. In a study conducted by researchers Roberts and Jones (2001), some students had credit card debt before they entered higher education. According to one study, 62% of incoming college freshman had access to a credit or charge card, and 50.9% had some kind of debt (Jones 2005). Today, college students have grown up in a culture of debt. They have been surrounded by credit card debt because some of their older role models carry amounting debt (Roberts and Jones 2001). In a study conducted at the University of California in Los Angeles, 75% of the 750,000 college students surveyed reported that one of the reasons they decided to go to college was to make more money (Roberts and Jones 2001). In addition, Robb and Pinto (2010) wrote that, “Americans’ definition of what constitutes a ‘need’ has clearly changed from generation to generation” (826). If college students experienced their parents participating in compulsive buying and/or irresponsible accumulation of debt, they are more likely to accumulate debt as well. Students should be properly financially educated before they acquire a credit card. Money related training assumes a noteworthy part done, how learners make utilization of their cash and their credit. Graduating scholars take off school with a normal for $20,402 done training and credit debt (Robb Furthermore Sharpe 2009). MasterCard debt and budgetary training are not areascolleges tend should scream when it hails should their scholars (Stanford 1999), Also they don’t normally furnish instructive chances to them. A standout amongst the The majority prominent routes of measuring credit information may be asking learners what their yearly rate rate (APR) will be. Scientists Robb Also Sharpe (2009) found that couple of scholars would considerably unable to characterize or understand the expression Apr. Jones (2005) cases that, “education in regards credit might be needed in the recent past understudies enter college… to help them aggravate educated choices Also dodge Hosting. Page 4. 152 unreasonable debt [that] influences current What's more future fiscal security” (15). A number Europe, hypothetical orders had more distinction than difficult work, and speculative chemistry was are losing additional people with Visa debt over they would should scholastic disappointment (Roberts Furthermore Jones2001). Hence, universities ought to take those obligations Furthermore, teach understudies on regards topics of credit card obligation Furthermore mindful using. In spite of the fact that a significant number understudy act flighty investing propensities a few scholars appear to be to be Monetarily capable. You quit offering on that one report card indicated that 56% of undergraduates pay off their balances every month, Concerning illustration restricted of the general population, for which just 43% pay off their debt every month (Hoover 2001). Those downsides to this examine might have been that A Mastercard company sponsored it so it might have been predispositions (Hoover 2001). Regardless of these outcomes are biased, other studies bring demonstrated that budgetary training might be important to learners. High roller and college learners taking money related training courses were demonstrated to need higher investment funds rates (Robb Also Sharpe 2009). Robb Furthermore Sharpe (2009) compose that, “a larger amount of financial knowledge may be negatively identified with if a particular case carries A revolving balance… among the individuals with a revolving harmony. A larger amount from claiming money related information will be connected with an easier reported balance” (29). Too general, Pinto, Parente, What's more Mansfield (2005) compose that, “middle class and high class managers necessity will make mindful that know youngsters would get credit cards toward ever-younger ages” (364). Instructors mindful for juvenile Mastercard conduct What's more secondary rates about debt can expand budgetary training courses during both those high roller Also school levels. An individual's capability with wrist bindings as much cash will be key to continuing fruitful On an aggregation. Successful money related administration methodologies need aid significant for every last bit parts for society, including school understudies. It need been guessed that students' money related administration proficience may be pivotal will their general academic accomplishment Furthermore maintenance. Perspectives on cash need changed About whether What's more scholars are Right away continuously raised in a culture agreeable of debt. As opposed to sparing to emergencies, kin would Right away, turning should kudos Furthermore, credit cards to spread these expenses--and Actually on pay ordinary regular bills! Staying crazy about debt will be never again esteemed as a critical social standard. Previously, fact, those debts-free lifestyle looked for Toward former generations need is supplanted with essentially "paying bills for time"--and clinched alongside a number situations "only making least payments" (Diamond & O'Curry, 2003). Will entangle those issues, school people would be immersed with Visa offers. College campuses bring turned into the flawless spot to Visa organizations will draw scholars under applying for kudos cards. Learners are advertised candy, nothing T-shirts, Furthermore, different trinkets in return for their Visa provision (Jones & Roberts, 2001). Four crazy from claiming five Europe, hypothetical orders had more distinction than difficult work, and speculative chemistry was permitted on-campus solicitations from Mastercard organizations. For return, Europe, hypothetical orders had more distinction than difficult work, and speculative chemistry was charge these vendors a few hundred dollars every day they are on yard soliciting learners (Jones & Roberts, 2001). Learners would make up for lost time in the surge Also fervor from claiming beginning school. Due to this, they need an aid undoubtedly seduced and overpowered Eventually Tom's perusing these offers. For many, this may be Additionally a period In which they experience monetary freedom to the main the long haul. These two variables (lifestyle change What's more budgetary freedom), coupled for continuously brought up over a pop culture agreeable for debt, could effortlessly turn an equation to an arrangement for poor decisions with cash. An individual's capability will oversee their cash may be key to constantly great. All parts of society, including school students, will profit starting with the successful fiscal administration. Students' money related administration competencies would pivotal on their academic Furthermore personal victory. The capacity with overseeing accounts affects learners both personally Furthermore scholastically. Learners who have the capacity should oversee their cash need aid additionally less averse to have the ability will wrist bindings their run through wisely (Weaver, 1992). These same understudies will beat their associates scholastically On account they are Additionally, those people who try on population and permit a lot of time to examine. Beam Edwards, an admissions specialist What's more previous east Carolina college monetary help executive stated, "As A rule, the a greater amount a first year recruit scholar need entry with Mastercard accounts, those harder it will be to get beneficial grades" (Weaver, 1992). As stated by An investigation discharged Toward the national focus on open arrangement and Education, educational cost during public, four-year organizations rose by a normal for 10 percent starting with 2001-02 to 2002-03 (Cavanaugh, 2003). Normal person advances debt need developed by $17,000 and over 20 percent for school learners worth of effort 35 or additional hours a week (Cavanaugh, 2003). Exactly learners might pick will diminish their span load will part-time, or drop out about school completely, with paying bills. As understudies make fewer credits for every semester, they augment the measure of the period it takes them to finish their school education, bringing about an increment in aggregate scholar credit obligation. Some specialists propose that the climbing expenses about higher training assume a magic part in the expanding utilization of kudos ahead school campuses (Asinof & Chaker, 2002; those instruction assets organization and the organization to higher training Policy, 1998; Lyons, 2003; Shenk, 1997; Rohrke, 2002; united states all accounting offices Likewise cited for Lyons, 2004). Almost 50 percent of understudies accepting monetary help don't feel the support they accept will be enough will spread those costochondritis of a school instruction (Lyons, 2003). These people have turned on different types about debt, including Mastercard debt, to blanket the equalization from claiming their school costochondritis (Lyons, 2004). Debt can have devastating effects on college students. John Simpson, an Indiana State administrator, was quoted, "This is a terrible thing. We lose more students to credit and debt than academic failure" (Commercial Law Bulletin, 1998, p. 6). There have been at least two cases of college students who took their lives, in part, because of their credit card debt. Sean Moyer was a 22-year old student with $10,000 of debt and Mitzi Pool was a 19-year old student with $2500 in debt. Prior to their deaths, both of these students had talked to others about feeling overwhelmed by the amount of debt they had acquired (Norvilitis & Santa Maria, 2002). Review of Related Studies The findings in the study of Matthew Stollak, Amy Vadenberg, Kevin Steiner and Jessica Richards have significant bearing to this study. Students are free from the comforts of home, many students are experiencing being on their own for the first time. One of the challenges they face is budgeting. This becomes particularly problematic when an expected budget item changes. Their study examines how students at a small Midwestern liberal arts college meet the budgeting challenge. Do students plan and budget for discretionary items differently than required items? Through this sample, student behaviors and discuss the implications for practice is assessed. The more knowledge students have about their financial responsibility and status the less likely they are to be in debt (Norvilitis, et al., 2006). In “Borrowing Against the Future: Practices, attitudes and knowledge of financial management among college students,” Micomonaco (2003) finds college students tend not to have a budget or calculate credit card bills based on their actual spending. For example, there was a significant amount of students that did not know their SES or how much they would owe in student loans when they graduate (Micomonaco 2003). Also, only 36% of students with credit cards reported paying off their credit cards bills monthly (Norvilitis, et al., 2006). Although, college students are concerned about their future financial status; 67% of freshmen at four-year colleges or universities have concerns about paying their tuition. This is the highest amount of concern expressed in over a decade (Gordon 2010). It was first examined whether there were significant differences between males and females on whether they had a monthly budget for expenses. Females were found to be more likely than males to create a monthly budget (t = -2.25, p = .025). In a similar vein, it was examined whether there were significant gender differences in dining out. Males were significantly more likely than females to go out to eat (t = 3.83, p = .000). Given that women were more likely to have a budget than men, this outcome was not too surprising. Finally, it was examined whether males and females differed in having a daily planner. Females were much more likely to have a planner (t = -4.88, p = .000). Previous unpublished research performed by Quinn and Steiner (St. Norbert College, 2009) also found that women reacted better to a budget imposition, further emphasizing that women are more likely to follow a budget as well. Budgeting, spending, and planning were first examined. First, it was found that there was a significant difference in monthly budgeting based on class standing (F = 11.40, p=.000). Seniors were most likely to have a budget, followed by juniors, sophomores, and freshman, in respective order. Similarly, a significant difference was found in eating out based on class standing (F = 2.74, p=.043). Seniors and sophomores were most likely to eat out. However, there was no significant difference in use of a daily planner based on class standing (F=1.47, p=.221). ​Spending habits were then examined by first looking at how students used their meal dollars. First, a significant difference was found in the use of meal dollars (F = 63.90, p=.000). Given that juniors and seniors often move away from residence halls to fend for themselves, it is not surprising that they were much less likely to have meal dollars than sophomores and freshman. Second, there was a significant difference in the amount of meal dollars placed in student accounts (F=16.84, p = .000). Seniors had the most dollars, followed by juniors, sophomores, and freshman, respectively. This could be due to simple experience over the years regarding how much they might really need to spend on meals over a semester. Finally, no significant difference was found on spending all their meal dollars (F = 2.30, p=.077) or the time when meal dollars ran out (F = .59, p=.625). A study conducted by the University of Brighton states that It’s very important to make sure that you have enough money to cover the cost of your tuition fees and living expenses before you begin your course. Paying for your studies and your living costs may seem  daunting at first, but organising your student finance early and making a budget that you can stick to will make a big difference. Where you choose to live and how you live will play a big part in determining how much money you will need while you are studying. You will also need to consider costs like accommodation, travel, clothes, food, insurance and your social life. You can use the breakdown of typical living costs for a student at Brighton to help you plan your budget. Budgeting isn't just about seeing how much money you will need to pay for your food and rent - it's a really good way of working out how much you can spend on things you enjoy. Conceptual Framework This study is intended to establish the relationship between the Spending Behavior and Budgeting Style of Entrepreneurs students of Mindanao State University, General Santos City as the basis for investment strategies for future economic decision. The figure below illustrates the independent and dependent variable Figure 1. Conceptual Framework showing the variable of the Study Theoretical Framework Theoretical framework I This study is anchored on the theory of Galperti (2017) and Maslow (1943, 1954). The theory of personal budgeting of Galperti based on an individual use personal budgets to manage self-control problems. According to this theory the link between budgeting and self-control problems in consumption-saving decision. Galperti also stated, how budgeting depends on the intensity of self-control. It was the prominent research argue. This theory matches a number of empirical findings and can guide marketing personal budgeting devices, especially to those entrepreneur students. While the budget on Maslow’s hierarchy of needs by Maslow (1954). Maslow’s hierarchy of needs is a theory that organizes universal human needs in order of priority, with the most fundamental ones. Maslow believed that if you reached the bottom four levels, you have the freedom to reach your full potential. Luke Landes on Consumerism Commentary ties this psychology theory on budgeting: psychological needs (food, shelter, water, and clothing) these things Landes said that these should be put first on one’s budget. Next is the safety needs, family belong to this stage. If these were covered, one can have more time in gifts and belongings, entertainment, being with friends. Under the esteem Landes put the confidence, achievement, respect for others and respect to others. Last, Landes, mention the self-actualization, items include: hobbies, vacation and luxuries. Many have problem on how they were going to budget their money or allowances, there was really a link between budgeting and spending behavior. Hierarchy of Maslow serve as a helpful tool to know how to prioritize the spending. Couple with this the priority pyramid financial goals, and one can have a solid base for planning (Pinola, 2013) Theoretical Framework II Theory of Eskelson (2005) Spending behavior has never been stable. It is dynamic and may differ from one generation to another. The way an individual spent his money is not consistent, it change through generation to generation. Wilson (2005) stated that consumer spending behavior is strongly influenced by four factors: cultural factor (culture, sub-culture, and social class), social factor (groups, family, roles and status), personal factor (age and life cycle stage, life-styles, occupation, economic situation, personality and self-concept) and psychological factor (motivation, perception, learning, beliefs and attitude). The spending behavior of a students will be affected through personal preference and group preference. The decision of a student matter. The demand of money never ends, its supply is limited. Investing and saving is Important, people will enjoy the future through his savings. The factors that greatly affect this, is because of poor budgeting skills and bad spending behavior (Singh, 2015). CHAPTER 3 METHODOLOGY Research design The research study was based on questionnaire designed by the researchers. Descriptive-correlational is used to determine the extent to which different variables are related to each other in the population of interest (Calmorin&Calmorin, 1997). The study used descriptive method and it included techniques that are used to summarize and explain the numerical data for the purpose of easier interpretation. A surveyed was administered by 50 selected entrepreneur students from Mindanao State University. A survey is non experimental, descriptive method (University of Texas). It is significant in analyzing and collecting from selected individuals. It is widely accepted as key tool in conducting and applying basic social science methodology (Babbie, 1997). Thus, it is important when research wants to collect data on a phenomenon that cannot be directly observed. Respondents of the Study The respondents of the study that the researchers chose are the entrepreneur students of Senior High School and College of Business Administration and Accountancy of Mindanao State University, General Santos City. The students that are selected by the researchers are the students that has more knowledge and more capacity to answer the problems posed in the present study. A total of 50 respondents should answer the questionnaire that the researchers provide which supplies information that researchers need. Instrument of the Study The research study was based on questionnaire designed by the researchers. The study used descriptive method and it included techniques that are used to summarize and explain the numerical data for the purpose of easier interpretation. The researchers will be using Snowball Sampling. The instruments the researchers use in this study are interview and modified questionnaire adopted from a research on “Allowance and Budget of second year students of University of Santo Tomas’ College of Fine Arts and Design.” The questionnaire includes the survey that helped in determining the spending behavior and the budgeting practices of entrepreneurs’ students of Mindanao State University, General Santos City. The researchers personally oriented the participants with regards on how they will answer the profile questionnaire and the survey. The respondents were given questionnaire and allotted minutes to fill out. Then, the questionnaires gathered was utilized for the analysis and interpretation of data. After which, the findings, conclusion and recommendations were formulated. Validity and Reliability of the instrument The first draft of the questionnaire will be submitted to the researcher’s adviser for corrections and suggestions. Several changes will be made. Some items not relevant to the proposed study will be discarded. The revised form will then be submitted to an expert. Each item on the questionnaire will have options 3, retain; 2, needs improvement; and 1, delete. Based on the responses of the experts, a weighted mean of 2.5 to 3.0 will be retained; mean of 1.5 to 2.4 will be revised; and mean of 1.0 to 1.4 will be discarded. If all their responses have weighed mean of 2.5 to 3.0, it means that the questioner is valid. For reliability, the test-retest method will be used. The questionnaire will be administered twice to the entrepreneur students of MSU-GSC campus. The coefficient correlation between the first and the second administration of the questionnaire. correlation between the first and the second administration of the questionnaire will be computed with the use of Spearman rank difference coefficient correlation. Where rs stands for Spearman rank-difference coefficient correlation, ∑6D^2 is the sum of squared difference between ranks, and N as the total number of cases. If the obtained correlation is high, it means the questionnaire is reliable. Methods of Data Gathering This study is focuses on the Budgeting and Spending Behavior of Entrepreneur Students of Mindanao State University- General Santos City. The questionnaire will be administered to 50 entrepreneur students of Mindanao State University. For the purpose of this research, in depth interviews where used. After collecting all the sample data, the questionnaires were administered directly to the chosen sample for the study Methods of Data Analysis Budgeting and Spending Behavior of Entrepreneur Students of Mindanao State University, are the variables that is to be discussed in the study. The statement of the problems are as follows: (1) What is the Level of budgeting practices in terms of a) Allocation strategy b) Budgeting method. (2) What is the extent of spending behaviour in terms of a) Needs b) Wants , and (3) Is there a significant relationship between the level of budgeting and spending behaviour of entrepreneur students of the study. The first and second statement of the problem will be using the weighted mean. The weighted mean will answer the first and second statement of the problem for which is equal to the sum of all scores divided by the number of cases and the researchers are looking for the average of elements with different weights on the result. The third statement of the problem, the researchers will adopt the Pearson-product moment correlation to determine the relationship between the two variables: Budgeting and Spending Behavior. Through this, the researchers will know if there is really significant relationship between the two variables or haven’t. Respondents of the Study The respondents of the study that the researchers chose are the entrepreneur students of Senior High School and College of Business Administration and Accountancy of Mindanao State University, General Santos City. The students that are selected by the researchers are the students that has more knowledge and more capacity to answer the problems posed in the present study. A total of 50 respondents should answer the questionnaire that the researchers provide which supplies information that researchers need. Instrument of the Study The research study was based on questionnaire designed by the researchers. The study used descriptive method and it included techniques that are used to summarize and explain the numerical data for the purpose of easier interpretation. The researchers will be using Snowball Sampling. The instruments the researchers use in this study are interview and modified questionnaire adopted from a research on “Allowance and Budget of second year students of University of Santo Tomas’ College of Fine Arts and Design.” The questionnaire includes the survey that helped in determining the spending behavior and the budgeting practices of entrepreneurs’ students of Mindanao State University, General Santos City. The researchers personally oriented the participants with regards on how they will answer the profile questionnaire and the survey. The respondents were given questionnaire and allotted minutes to fill out. Then, the questionnaires gathered was utilized for the analysis and interpretation of data. After which, the findings, conclusion and recommendations were formulated. Statistical Treatment The responses made by the entrepreneur students describing their budgeting method and daily spending behavior were presented. Say for instance sex, age, parent's occupation. These was also applied to determine the way or how they allocate their allowances and how big or small is their budgetary requirements. Responses to the questionnaire by the entrepreneur students of Mindanao State University were statistically analyzed with the data instrument of the study. Descriptive statistics such as frequency count, mean, percent and rank are considered. The researchers will be using average/mean for statement of the problem 1 and 2 and Pearson R for statement of the problem 3. To know if there is a correlation between independent and dependent variable pearson product moment of correlation coefficient was utilized. To analyze and describe the data will be obtain, the researcher use Mean and Pearson correlation coefficient as statistical tools. The statistical tools that are employed are asfollows: 1. Mean Mean is the exact mathematical center of a distribution or the “average” number that found by adding all data points and dividing by the number of data points ( Khan Academy, 2017). Subjected to budgeting and spending behaviour of entrepreneur students. The formula of mean is as follows: ∑x x̅ = N Where: ∑ = represents the summation X = mean N= number of cases 2. Pearson Correlation Coefficient Where x is the independent variable that defines the spending behaviour of entrepreneur students, the y is the dependent variable that defines the budgeting behaviour of entrepreneur students and the ∑ which represents the summation. Bibliography Bailey, C. (2008/). Local Spending by Traditional College Students. Retrieved from https://www.westga.edu/ Bocales, T. (2007). Expenditure Patterns of College students in Selecte Schools of La Trinidad, Benguet. Retrieved November 16 2016, from http://digilib.bsu.edu.ph/greenstone/collect/undergra/HASH7596.dir/doc.pdf. De Guzman, M., Fojas, G., Inamac, J., Lee, N., Sangria, K., & Tia, T. (n.d). ADescriptive- Research on Allowance and Budget of Second YearStudents of University of Santo Tomas-College of Fine Arts and Design.Retrieved November 17 2016 fromhttps://www.scribd.com/doc/-/A-DESCRIPTIVE-RESEARCHON-ALLOWANCE-AND-BUDGET-OF-SECOND-YEAR-STUDENTS-OFUNIVERSITY-OF-SANTO-TOMAS-COLLEGE-OF-FINE-ARTS-ANDDESIGN Essays, UK. (November 2013). Marketers Are Facing Great Competition Cultural Studies Essay. Retrieved November 14 2016 from https://www.ukessays.com/essays/cultural-studies/marketers-are-facing-great competition-cultural-studies-essay.php?cref=1 N. A. (23, March 2013). Factors affecting the spending behaviour of Students. Retrieved from https://www.ukessays.com/ Oloba, J. ( 2018). “Financial Literacy in College: Students’ Budgeting and Spending Habits. Retrieved from http://www.academia.edu/ Singh, A. (2015). Importance of money in One's life. Retrieved November 52016, from https://www.quora.com/What-is-the-importance-of-money-inones life-Can-money-solve-most-if-not-all-problems-in-life Simply Psychology. Maslow’s Hierarchy of Needs. Retrieved from December 42017. https:/www.simplypsychology.org. Stollak, M. (January, 2011). Student Budgeting and Spending Behaviors: A Comparative Study. Retrievedfrom https://www.researchgate.net/publication/-_Student_Budgeting_and_Spending_Behaviors_A_Comparative_Study Tan, Lucilla. “Spending patterns of public-assisted families.” Monthly LaborReview. 123 (May 2000): 29-35  University of Brighton (2016). Budgeting for Student Life. Retrieved from, https://www.brighton.ac.uk/studying-here/fees-and-finance/budgeting-for-student-life/index.aspx University of Minnesota (2017). Budgeting and Spending Behavior of a Student.Retrieved from, https://onestop.umn.edu/finances/budgeting-andspending. Appendices Proposed Instruments Sample questionnaire: Instruction : Check your own answer and perspective Gender: __ F __M Course Program: _____ 1. How much is your daily Allowance __ 100-200 __ 200-300 __ 300-500 __ 500 above 2. Do you have Part time job/sideline? __Yes __No If yes, do you get your allowance in your salary?  __Yes  __No 3. Do you live in a dorm/apartment? __Yes __No 4. If no, how much money do you spend for your transportation every day? __ PHP 10.00 to PHP 50.00 __ PHP 50.00 to PHP 90.00 __ PHP 90.00 to PHP 150.00 __PHP 150 to PHP 2005.   5. How much money do you spend for your food every day? __PHP40-60 __PHP60-100 __PHP100-150 __ PHP 150-200 6. Do you bring packed Lunch in school? __Yes __No If yes, how much money can you usually save? Php ____ 7. How much money do you usually spend on your projects/plates? __50-150 __150-200 __200-350 __-.   8. What do you usually do on long hours of break time? __computer  __hang outs __sports  __food trip  __go home/ dorm9.   9. How much money do you spend for your leisure time? __none __50-100 __100-150 __150-200 __200 and more 10. Where do you think does most of your allowance go to? __ Food __ Shopping __ School Needs __ Transportation  __ Entertainment/ recreation (computer shops, cell phone load, „gala‟, etc.) 11. Rank your priority when it comes to spending in the following: (1 as the highest and 5as lowest) 5 4 3 2 1 Food Transportation Shopping School needs Recrational/ leisure activities School Needs II. Direction: Below are the items for budgeting that you have possibly met as an entrepreneur students. Indicate the extent of seriousness of each problem by encircling the options on the right of each item. The option 5, 4, 3, 2, and 1 represent the seriousness of each problem, thus, 5 –Always2 – No 4 –Often1 – Never 3 – Sometimes Managing the allowance 1. Do you make/ write a budget plan? ……………………………………………5 4 3 2 1 2. If so, do you follow it (budget plan)? …………………………………………… 5 4 3 2 1 3. Do you always try to save money? ……………………………………………5 4 3 2 1 If so, how much can you usually save? __PHP 10.00 - PHP 50.00 __ PHP 50.00 - PHP 100.00 __PHP 100.00 - PHP 200.00 __PHP 200 Above   Time Table February March April May Research Activities-. Revision 2.Validation of Instruments 3. Data Gathering 4. Data Analysis 5. Preparation of Manuscript 6. Final Defense Rubrics for their Proposal defense PRACTICAL RESEARCH PROPOSAL DEFENSE Group/ Name of Student: ______________________________________________ Course/Yr/Sec: __________________ Subject: ______________ SY: ____________( ) 1st ( ) 2nd ( ) 3rd Direction: Rate the document by using the following criteria. VG (5) – Very Good - if the element is accurately formulated with all the components and formatted properly G (4) – Good -if the element is 61-80% accurately formulated and formatted F (3) – Fair -if the element is 41-60% accurately formulated and formatted P (2) – Poor - if the element is 21-40% accurately formulated and formatted N (1) – Needs Improvement -if the element is 0-20% accurately formulated and formatted Indicator VG G F P N I. EVALUATION OF PAPERS (60%) Title Formulation Major Variables, respondents, or subjects are clearly stated. Lacks one of the elements Lacks two of the elements Needs Improvement Need Changes Introduction Rationale, literature, statistics, and purpose and format are adequate Lacks one of the elements Lacks two of the elements Needs Improvement Need Changes Statement of the Problem General problem, specific problems, and formula are correctly formulated. One of the problems is not correct. Two of the problem is not correct. Needs Improvement Need Changes Scope and Delimitation of the Study Major variables, sub-variables, indicators, settings and format are properly mentioned. Lacks one of the elements Lacks two of the elements Needs Improvement Need Changes Significance of the Study Beneficiaries and the benefits are discussed completely. Contents must be enhanced Contents must be improved. Contents must be revised. Contents must be changed. Relevant Theories At least three theories and relationship are properly discussed. The theorists, title, and explanations are present. Lacks one of the elements Lacks two of the elements Needs Improvement Need Changes Related Literature All variables and sub-variables have adequate literature. No literature basis for one to two variables, sub variables No literature basis for three to four variables, sub variables Needs Improvement Need Changes Related Studies Thesis statement, date, place, findings, and relationship are discussed. One element is not included Two or more elements are not included Needs Improvement Need Changes Conceptual Framework and Paradigm 81%-100% accurate variables are included. Relationships are discussed and symbols are used. 61%-80% accurate 41%-60% accurate 21%-40% accurate 0%-20% accurate Hypothesis/ Assumption The null hypothesis, and at least five assumptions are mentioned properly 61%-80% accurate 41%-60% accurate 21%-40% accurate 0%-20% accurate Definition of terms All terms are operationally defined. 61%-80% accurate 41%-60% accurate 21%-40% accurate 0%-20% accurate Research Design Methodology, types, definition, explanation and rationale are discussed. One element is missing. Two elements are missing. Needs Improvement Needs Changes Population Population, samples, sampling method, rationale and profile are discussed. One element is missing. Two elements are missing. Needs Improvement Needs Changes Instrument of the study Instrument, basis, explanation and description are discussed One element is missing. Two elements are missing. Needs Improvement Needs Changes Validity and Reliability Method, basis, and explanation are discussed. One element is missing. Two elements are missing. Needs Improvement Needs Changes Statistical Tool, basis, and explanation are discussed One element is missing. Two elements are missing. Needs Improvement Needs Changes Notes Elements such as format, number, and year are present. One element is missing. Two elements are missing. Needs Improvement Needs Changes Appendices Bibliography, letters, questionnaire are present. One element is missing. Two elements are missing. Needs Improvement Needs Changes I. ACTUAL DEFENSE (30%) Question 1 81% - 100% answered correctly 61% - 80% answered correctly 41% - 60% answered correctly 21% - 40% answered correctly 0% - 20% answered correctly Question 2 81% - 100% answered correctly 61% - 80% answered correctly 41% - 60% answered correctly 21% - 40% answered correctly 0% - 20% answered correctly Question 3 81% - 100% answered correctly 61% - 80% answered correctly 41% - 60% answered correctly 21% - 40% answered correctly 0% - 20% answered correctly Question 4 81% - 100% answered correctly 61% - 80% answered correctly 41% - 60% answered correctly 21% - 40% answered correctly 0% - 20% answered correctly Question 5 81% - 100% answered correctly 61% - 80% answered correctly 41% - 60% answered correctly 21% - 40% answered correctly 0% - 20% answered correctly Question 6 81% - 100% answered correctly 61% - 80% answered correctly 41% - 60% answered correctly 21% - 40% answered correctly 0% - 20% answered correctly III. PERSONALITY (10%) Confidence Comm. Skills Teamwork Mastery Suggestions: CriteriaRawEqui % __________________________________I_________ __________________________________II_________ __________________________________III_________ __________________________________Final Grade: __________ __________________________________ __________________________________ __________________________________ D. Steps in Hypothesis Testing The following are the six steps of hypothesis testing applied in the study: 1.The null hypothesis of this study is there is no significant relationship between job-related problems and the profitability of Pastilan in MSU-GSC campus. 2.The test statistic to be used in this study is the Z-test or the Z-statistic, which has the standard normal distribution under the null hypothesis. If the calculated Z is equals to one, it means that there is a significant relationship between two variables but if it will result to negative one, it means there is no significant relationship between the two variables. 3.The collection of data will be done through giving the survey questionnaire. 4.The test statistics will be calculated by using the formula used in z-statistic. 5.After the date it was gathered and calculated, the researchers will make a conclusion whether to accept or reject the null hypothesis. Frequently Ask Questions 1. What is the rationale (reasons and incidence) of your research? Money plays a vital role in every person’s life. It helps most people to achieve life goals and dreams. It helps an individual to get some lives intangible – freedom or independence. With money, much good can be done and much unnecessary suffering avoided or eliminated (Ganeshan, 2010). With the challenges brought by the world, on student on their studies, students have to know the proper allocation of their money or the budgeting of their allowances, and their spending behavior can affecting them. According to Walker, “Money is that what money does”. It has a lot of function and is very important. People used this mainly for transactions and consumptions and that is to satisfy the needs and wants. People serve money as an important tool. People can do a lot of things through money. People tend to realize the importance of money because of the fact that in social, economic and in all of the other activities, there is always an encounter of money. It is a great manipulative tool for it can do anything to people, and in turn people do anything to have this, and only wise people truly knows the value of it. Money makes everything convenient but it also depends on how a person accounts his or her money as problems arises. Money can either be beneficial to an individual or sometime as a way to the individual to be in a crisis situation. 2. What are the contributions of your study to society or the study’s relevant field? It would help people especially young profesionals or those who still studying yo allocate their money properly. Spending behavior of students has a great influence in their financial well-being. If they know how to manage their money wisely, it would be helpful for them to be well prepared in getting to the “real world,” the stage wherein they are already working. If people would know the importance of money or on how to budget the money , this would help for the better of the society . 3. What is the most relevant theory of your study? Maslow’s Hierarchy Maslow’s hierarchy of needs by Maslow (1954). Maslow’s hierarchy of needs is a theory that organizes universal human needs in order of priority, with the most fundamental ones. Maslow believed that if you reached the bottom four levels, you have the freedom to reach your full potential. Luke Landes on Consumerism Commentary ties this psychology theory on budgeting: psychological needs (food, shelter, water, and clothing) these things Landes said that these should be put first on one’s budget. Next is the safety needs, family belong to this stage. If these were covered, one can have more time in gifts and belongings, entertainment, being with friends. Under the esteem Landes put the confidence, achievement, respect for others and respect to others. Last, Landes, mention the self-actualization, items include: hobbies, vacation and luxuries. 4. What are the major variables and sub- variables in your study? MAJOR VARIABLES SUB-VARIABLES Budgeting Allocation Strategy Method of Budgeting Spending Behavior Allowances Needs/Wants Expenses 5. What is the paradigm of of your study Paradigm of the study INDEPENDENT VARIABLE DEPENDENT VARIABLE 6. What is the setting of your study? Mindanao State University, General Santos City 7. What is your research design? Explain. The research study was based on questionnaire designed by the researchers. The study used descriptive method and it included techniques that are used to summarize and explain the numerical data for the purpose of easier interpretation. A surveyed was administered by 50 selected entrepreneur students from Mindanao State University. A survey is non experimental, descriptive method (University of Texas). It is significant in analyzing and collecting from selected individuals. It is widely accepted as key tool in conducting and applying basic social science methodology (Babbie, 1997). Thus, it is important when research wants to collect data on a phenomenon that cannot be directly observed. 8. Who are the respondents of your study? The respondents of the study that the researchers chose are the entrepreneur students of Mindanao State University, General Santos City. The students that are selected by the researchers are the students that has more knowledge and more capacity to answer the problems posed in the present study 9. How will you select your respondents? We will going to conduct an interview to them and after we know their answer we will give them the allotted questionnaire. 10. How did you come up with your instrument? We a researched about how topic and then we adapt the kind of questionnaire e have been searched. The main instrument the researchers used in this study was the modified questionnaire adopted from a research on “Allowance and Budget of second year students of University of Santo Tomas’ College of Fine Arts and Design.” The questionnaire includes the survey that helped in determining the spending behavior and the budgeting practices of entrepreneurs’ students of Mindanao State University, General Santos City. 11. How will you validate your instrument? The first draft of the questionnaire will be submitted to the researcher’s adviser for corrections and suggestions. Several changes will be made. Some items not relevant to the proposed study will be discarded. The revised form will then be submitted to an expert. Each item on the questionnaire will have options 3, retain; 2, needs improvement; and 1, delete. Based on the responses of the experts, a weighted mean of 2.5 to 3.0 will be retained; mean of 1.5 to 2.4 will be revised; and mean of 1.0 to 1.4 will be discarded. If all their responses have weighed mean of 2.5 to 3.0, it means that the questioner is valid 12. How will you establish your instrument’s reliability? For reliability, the test-retest method will be used. The questionnaire will be administered twice to the entrepreneur students of MSU-GSC campus. The coefficient correlation between the first and the second administration of the questionnaire. 13. How will you gather your data? After the retrieval of the questionnaire, the researchers tabulate and process the data. The data gathered will be organized in a form of graph and table or other graphical presentation that fits for the presentation of the data gathered. Data will be interpreted using the different statistical tool mentioned in the study. The researcher will make an assessment of budgeting met by the entrepreneur’s student in MSU-GSC campus and its relationship with spending behaviour. 14. How do you plan to present, analyse, and interpret the results of your study? By gathering data through reading some sources from another study in order to have a reliable result of our study. 15. What statistical treatment will you apply? The responses made by the entrepreneur students describing their budgeting method and daily spending behavior were presented. Say for instance sex, age, parent's occupation. These was also applied to determine the way or how they allocate their allowances and how big or small is their budgetary requirements. Responses to the questionnaire by the entrepreneur students of Mindanao State University were statistically analyzed with the data instrument of the study. Descriptive statistics such as frequency count, mean, percent and rank are considered. The researchers will be using average/mean for statement of the problem 1 and 2 and Pearson R for statement of the problem 3. To know if there is a correlation between independent and dependent variable pearson product moment of correlation coefficient was utilized. To analyze and describe the data will be obtain, the researcher use Mean and Pearson correlation coefficient as statistical tools. The statistical tools that are employed are asfollows: 1. Mean Mean is the exact mathematical center of a distribution or the “average” number that found by adding all data points and dividing by the number of data points ( Khan Academy, 2017). Subjected to budgeting and spending behaviour of entrepreneur students. The formula of mean is as follows: ∑x x̅ = N Where: ∑ = represents the summation X = mean N= number of cases 2. Pearson Correlation Coefficient Where x is the independent variable that defines the spending behaviour of entrepreneur students, the y is the dependent variable that defines the budgeting behaviour of entrepreneur students and the ∑ which represents the summation.