INTRODUCTION

Background of the Study

Financial behavior refers to the decision making and practices towards

the management of cash-flow, credit, savings, and investments for one’s financial

welfare (Hogarth, Beverly, & Hilgerth, 2003; Xiao, Tang, & Shim, 2006;

Ozmete, 2015).The capability to manage an individual’s finance has become a

significant problem nowadays (Jorgen & Salva, 2010).Research found the

common behaviors that causes poor financial management. Such behavior

includes loaning high amount of money, not saving enough, unknowingly

investing to scams due to the lack of knowledge (Kim, 2000; Jorgsenet al., 2010).

Consequently, these poor financial management-behavioral factors (or poor

practices) negatively affects job performance (Garman, 1996), financial future

(Royer, 2002) and even financial satisfaction which all contributes to one’s

overall life satisfaction (Xiao et al., 2008).Positively, obtaining high financial

knowledge saves one from the given consequences of poor financial management

and into the practice of highly beneficial financial behavior (Hogarth et al., 2003).

Among the studies, financial knowledge is one of the critical factors

which may have significant impact on financial behavior (Hogarth et al., 2003;

Mien, 2014). Financial knowledge was defined as the understanding of financial

terms and concepts. Such knowledge includes banking, health and insurance,

using credit, taxes, investing and other significant areas relevant to personal

1
finance (Bowen, 2002).Thus, a person needs to have a sufficient financial

knowledge to better understand and evaluate financial risk and opportunities, as

well as to develop desirable financial behavior leading to financial satisfaction

(Godfrey, Levesque,& Stark, 2009). Nevertheless, Hogarth (2003) and Akben-

Selcuk (2015) have recognized that financial behavior can be developed not only

from knowledge but also from positive childhood experiences, parental teachings

and positive attitudes towards finances.

Financial knowledge can be influenced from different factors and can

already start as early as childhood (Akben-Selcuk, 2015). For most young adults,

college is considered as the beginning of financial independence from their

parents (Fluellen, 2013) thus, as a mature persom, they will start dealing with

financial decisions along with the practice of their financial knowledge through

financial behaviors (Gutter, Garrison, & Copur, 2010; Lyons, Scherpf, &

Roberts, 2006). It is common to these young people to start dealing with financial

challenges such as paying bills, keeping a budget or owning a credit card for the

first time. Although students in college are in the period of their lives where they

start to be independent in the area of managing money (Akben-Seleuk, 2015),

other college courses give a little importance on effective money management

(Danes & Hira, 1987). According to research, during the transition to adulthood,

the negative and positive financial behavior that was formed are likely to continue

throughout adulthood (Shim, Barber, Card, Xiao, & Serido, 2009), previous

2
researchers found that as early as high school learns more about money

management, the less probability that a person faces bankruptcy in the future and

students who were delinquent on their credit card bills were reduced (Paulson &

Shastry, 2000). Management of finances through the acquired financial

knowledge and financial behavior is one important responsibility that a student

faces since it can affect their personal welfare and future satisfaction financially

(Munro & Hirt, 1998; Shim, Xiao, Barber, & Lyons, 2009).

With this, our study aims to determine what are the positive financial

behaviors and financial satisfaction of high school students and the relationship

of both. Given the negative behaviors and the assumption that the money

managing behaviors form during college (Xiao et al., 2009), a better

understanding on the development of positive financial behaviors will benefit

students by the additional financial knowledge from this research as well as to

help those who are interested in improving financial satisfaction. Moreover,

through this additional financial education from schools will be given to the

students for the enhancement as well of the student’s overall life satisfaction.

Conceptual Framework

Figure 1 shows the relationship between the independent, dependent and

intervening variables of the study. Financial behavior is the independent variable

of the study. Therefore, the dependent variable is the financial satisfaction and

overall life satisfaction, which will be explained simultaneously by all the other

3
independent between intervening variables. The intervening variables are the

high school student’s demographics such as grade level, strand and sex.

According to the social learning theory, spending behaviors are being

passed from one generation to another through parents and other social groups

(Gutter, Copur, & Garrison, 2009). Financial behaviors, whether beneficial or not

are attained when shifting to adulthood or throughout adulthood (Shim et. al.,

2009).

Studies used the term financial behavior to discuss positive behaviors

suggested by economists as a way to increase financial welfare (Xiao et al.,

2008). Moreover, previous studies measured financial behavior through practices

related to cash, credit and saving management (Hilgert et al., 2003; Xiao et al.,

2006; Ozmete, 2015). Since an individual’s financial welfare can either be

objective or subjective (Joo, 2008), it stands to reason that positive financial

behavior should increase financial welfare.Furthermore, as recommended by

Maddux (2002), intentional actions to reduce financial negativity could help

achieve a positively developed financial life.

As shown by previous researches, financial behaviors can affect college

students’ overall life satisfaction through financial satisfaction as well as

academic satisfaction (Xiao et al., 2008). Financial satisfaction was described as

an individual’s perception in relation to contentment with their present financial

situation whether material or non-material (Joo& Grable, 2004; Ali, Rahman, &

4
Bakar, 2015). Many researchers suggest that in achieving financial satisfaction,

financial behavior is required (O’Neill, Xiao, Bristow, Brennan, &Kerbel, 2000).

Coming from an empirical and theoretical research, demographic characteristics

of a student is one significant way to influence financial satisfaction.

Figure 1. Paradigm of the Study

INDEPENDENT VARIABLE DEPENDENT VARIABLE

Financial Behavior Financial satisfaction

Overall life satisfaction

INTERVENING VARIABLE

grade level, academic strand,

& sex

Statement of the problem

The objective of the study seeks to identify the relationship of positive

financial behaviors to the financial satisfaction of high school students. Since

financial matters are significant and part of student’s life, our study also aims to

examine as to why financial behaviors contributes to their overall life satisfaction.

This research attempts to answer:

1. What is the level of financial behavior of high school students?

2. What is the level of financial satisfaction of high school students?

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 3. What is the relationship between financial behavior and financial

satisfaction?

4. What is the relationship of financial behavior and overall life

satisfaction?

Hypothesis of the Study

The researchers hypothesized that:

1. The level of financial behavior of high school students is either from

strong positive to strong negative financial behavior. Such behavior

includes budgeting, in which students make and keep the plans for

spending money. Another is being mindful of what they are buying and

also borrowing enough to what they only needed. In addition, positive

attitude towards the future wherein students focus more on the future

rather than at the moment therefore good decision making is also being

practiced.

2. The level of financial satisfaction of the high school students is either

from very satisfied to not at all satisfied. Some of their satisfaction are

their abilities to manage finances such as the given allowance and extra

money. Another is the student’s daily spending habits of their financial

behaviors. Also, their satisfaction towards their savings and anything that

involves finances.

6
3. There positive relationship between financial behavior and financial

satisfaction.

4. There is a positive relationship between student’s overall life satisfaction

and financial behavior.

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 METHODOLOGY

Research Design

This study is a quantitative research. A quantitative research is where

numbers are utilized to explain and present the gathered data and information

(Aliaga & Gunderson, 2002). The quantitative data or numbers analyzed were the

frequencies of each financial satisfaction and overall life satisfaction assessed

through an individual’s positive financial behavior.

Correlational research is concerned with establishing relationships

between two or more variables in the same population or between the same

variables in two populations (Leedy & Ormrod 2010). This study was used to

describe the correlation between financial behavior, financial satisfaction, and

overall life satisfaction. The proponents identified the independent variable as the

financial behavior of high school students while the intervening variables are the

age, sex, and strand of senior high students.

Population and Locale of the Study

The respondents of the study were junior and senior high school students

in a private institution located at La Trinidad, Benguet. The senior high school

students were further classified into academic strands namely: ABM, STEM, and

HUMSS. The proponents selected the respondents based on the criteria

8
established. It is vital for the study because these participants will benefit from

the results.

The senior high school students studying in this institution was chosen by

the researchers because of their sufficient knowledge in managing their finances

which contributes to their application in money management (Hilgert, Hogarth,

& Beverly, 2003). According to Bateman and Suldo (2014), poor performance

over time of high school students on personal financial knowledge tests suggests

that delaying an introduction of personal money management need to be

supported into the earlier grades. It is relevant in their financial aspect because of

their experience in shifting from monetary dependence to self-reliance.

According to A Networks Financial Institute report (2006), the core concepts that

undergird financial literacy requires importance and support from the primary

grades for students to transition into financially literate consumers (Godsted &

McCormick, pp. 3-4).

The total of 180 sample size of the high school students was acquired through

utilizing the Slovin-formula. The total population were determined by the sample

size of which the results were taken. Moreover, purposive technique was

employed in simple random sampling.

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 Table 1. Respondents of the Study

Profile F %

GENDER

Male 101 56

Female 79 44

Grade Level

Grade 7 44 24

Grade 8 30 17

Grade 9 31 17

Grade 10 39 22

Grade 11 19 11

Grade 12 17 9

STRAND

ABM 10 28

HUMSS 5 14

STEM 21 58

TOTAL 180 100

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 Data Collection Instruments

To gather the needed data, the researchers utilized a questionnaire. The

questionnaires were filled-out by the high school students through simple random

sampling wherein they answered four parts. The first part consists a series of

questions assessing the personal information in which they wrote their sex, grade

level and strand for senior high school students. The second part involved the

financial behavior of high school students. The instrument was utilized because

it is used by most countries to generally measure each financial behavior (Global

Survey on Financial Consumer and financial literacy, 2013). However, the

researchers modified the six (6) variables questionnaire into seven (7) questions.

The researchers divided the first question in the financial behavior and made it as

two questions. This is for the participant’s convenience and better understanding

in answering the questionnaire. The third part involved financial satisfaction of

each students which was revised for this study. This instrument with fourteen

(14) questions was used to assess the current level of financial satisfaction and

understand the student’s behavior that may impede the ability in achieving higher

level of satisfaction (Feige, n.d.). The researchers reduce the response set for

these questions from 1 (Very Satisfied) to 5 (Very Dissatisfied) into 1 (Very

Satisfied) to 4 (Very Dissatisfied). Middle response which is 3 (Somewhat

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Satisfied) is removed for the researchers to accurately measure the level of

satisfaction. The fourth part involved overall life satisfaction scale adapted from

the modified questionnaires (Malhotra, 2011). The instrument has originally ten

(10) questions (Hutz, 2014) but after the content analysis, the previous

researchers found that seven (7) questions would already be satisfactory to

evaluate overall life satisfaction (Campara, Viera, & Potrich, 2017. The

computed Cronbach’s alpha coefficient is 0.71; hence, the items in the

questionnaire are statistically reliable.

Data Collection Procedure

In gathering the needed data in this study, a permission letter was first

forwarded to the school administrator asking permission to access their personal

information and financial profile. Along with the permission letter explains the

objective of the study. Upon approval, the researchers requested the participation

of high school students. The researchers provided and discussed information

about the study before the questionnaires were given. Then, the answered survey

questionnaires were collected for the tabulation of data and analysis of the

variables.

Treatment of Data

A survey questionnaire was used in this study to determine the

relationship between financial behavior, financial satisfaction and overall life

12
satisfaction. The researchers made use of t-test for independent samples. One-

Way ANOVA was used to determine whether financial behavior differed based

on grade levels among the high school students. Descriptive statistics was used

to analyze the demographic characteristics of the sample which are the grade

level, sex, and strand of Senior high school. To know if there is a correlation

between independent and dependent variables, Bivariate Pearson’s correlations

were employed to examine the relationship between financial behavior and

financial satisfaction and overall life satisfaction with 0.05 level of significance.

13
 RESULTS AND DISCUSSION

Majority of the high school participants practices positive financial

behavior as seen in table 2. Specifically, 41% are moving towards positive

financial behavior while 39% have already attained positive financial behavior.

Moreover, only 9% attained strong positive financial. Nonetheless, almost more

than 80% of the participating high school participants shows likeable financial

behavior.

This implies that most high school students are moving towards healthy

financial life and even exhibits positive money management, savings and others

(Gutter & Copur, 2011).

One factor that may have contributed to such result is the student’s

financial knowledge. Such as financial knowledge that are passed through

parents, social groups (Gutter et al., 2009) and other influential factors that form

during childhood (Akben-Selcuk, 2015). Indeed, positive financial behaviors of

students can be said to be high when they have exhibited a likeable financial

behavior results (Shim et al. 20090; Xiao et al., 2006, & Xiao et al. 2007, 2009).

14
Table 2. Financial Behavior (FB) of High School Students

LEVEL OF FB FREQUENCY PERCENT

Strong positive FB 16 9
Positive FB 71 39
Moving towards positive FB 74 41
Negative FB 19 11
Strong negative FB 0 0
Total 180 100

Table 3 shows that the most practiced positive FB by the high school

participants is making plans on how to spend money however, their least practice

positive financial behavior is following their plans they made for spending

money. Positively, the high school participants are moving towards positive FB

(3.40).

This implies that the high school students may have more financial

knowledge about making decisions or plans for spending (Coskuner, 2016),

however, such knowledge is not being exhibited properly (Wagner , 2011) as

15
found out by this study where students make plans on how to spend their money

but does not follow it.

One of the factors that may contribute to the results is the increase of

financial knowledge of students (Robb & Woodyard, 2015). It is assumed that

the more financially knowledgeable, the better financial behaviors and decisions

that a person could involve in (Wagner, 2011). In addition, Miller et al. (2003)

stated that students who have low financial knowledge are more likely to have

financial issues in debt and less likely to save and plan for the future.

Table 3. Positive Financial Behavior (FB) Indicators of High School Students

POSITIVE FB MEAN LEVEL OF FB

1. I make plans on how to spend my 3.63 (T) Positive FB
money.
2. I have chosen the financial 3.57 (T) Positive FB
product independently.
3. I am not borrowing more than 3.53 (T) Positive FB
what I will be needing.
4. I focus on the financial future 3.43 (T) Positive FB
rather than on today.
5. I am not being sudden with 3.27 (OT) Moving towards
financial decisions. positive FB
6. I am not overspending money in 3.22 (OT) Moving towards
items that I do not need. positive FB
7. I follow the plans I make for 3.12 (OT) Moving towards
spending money. positive FB

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 LEGEND:

MEAN STATE OF FB LEVEL OF FB

4.21 – 5.00 Very true of me (VT) High Positive Financial Behavior
(HP)
3.41 – 4.20 True of me (T) Positive Financial Behavior (P)
2.61 – 3.40 Often true of me (OT) Moving Towards Positive Financial
Behavior (MTP)
1.81 –2. 60 Not true of me (NT) Negative Financial Behavior (N)
1.00 –1. 80 Totally not true of me (TNT) Very Negative Financial Behavior
(NV)
Grand Mean 3.40 (OT) Moving towards
positive FB

The male high school participants exhibits positive FB (3.42) as compared

to the female participants who are still moving towards positive FB (3.36) as seen

in table 4. Such difference between the FB of male and female high school

participants is not statistically significant (5%) as supported by table 4 and 5. This

implies that men and women significantly show no difference to their financial

behaviors. In contrast, according to Hira and Mugenda (2000), men have higher

financial behavior, since women are likely involved in problem-buying

behaviors.

Some of the factors that may have contributed to the result were the social,

psychological and emotional issues (Hira & Mugenda, 2000). Although there is

17
no statistical significant difference between the FB of male and female high

school participants, Walczak and Penkowaska-Kamieniecha (2018) argued that

the financial behaviors of men and women have significant difference. In fact,

men more frequently make decisions or plan for financial matters and sticks with

the plan made than women. Indeed, men are naturally the decision makers, in

terms of financial decisions, women are less frequent to have outstanding

commitments with their plans (Wiltshire et al., 2011).

Table 4. Financial Behavior (FB) of High School Students Based on Sex

POSITIVE FB MALE FEMALE

1. I make plans on how to 3.73 (T) 3.51 (T)
spend my money. Positive FB Positive FB
2. I have chosen the financial 3.54 (T) 3.59 (T)
product independently. Positive FB Positive FB
3. I am not borrowing more 3.46 (T) 3.63(T)
than what I will be Positive FB Positive FB
needing.
4. I focus on the financial 3.43 (T) 3.44(T)
future rather than on today. Positive FB Positive FB
5. I am not being sudden with 3.37(OT) 3.15(OT)
financial decisions. Moving towards Moving towards
positive FB positive FB
6. I am not overspending 3.22(OT) 3.23(OT)
money in items that I do Moving towards Moving towards
not need. positive FB positive FB
7. I follow the plans I make 3.23 (OT) 2.97(OT)
for spending money. Moving towards Moving towards
positive FB positive FB
Grand Mean 3.42 (T) 3.36 (OT)
Positive FB

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 Moving towards
positive FB

LEGEND:

MEAN STATE OF FB LEVEL OF FB

4.21 – 5.00 Very true of me (VT) High Positive Financial Behavior
(HP)
3.41 – 4.20 True of me (T) Positive Financial Behavior (P)
2.61 – 3.40 Often true of me (OT) Moving Towards Positive Financial
Behavior (MTP)
1.81 –2. 60 Not true of me (NT) Negative Financial Behavior (N)
1.00 –1. 80 Totally not true of me (TNT) Very Negative Financial Behavior
(NV)

Table 5. T-test for Male and Female Financial Behavior (FB) (a)

Sex N Mean Std. Deviation Std. Error Mean

FB male 101 3.4176 .63588 .06327

female 79 3.3615 .57600 .06481

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Table 6. Table 4. T-test for Male and Female Financial Behavior (FB) (b)
Levene's

Test for

Equality of

Variances t-test for Equality of Means

95% Confidence

Std. Interval of the

Sig. Mean Error Difference

(2- Differ Differe Lo

F Sig. t df tailed) ence nce wer Upper

F Equal .499 .481 .61 178 .541 .05610 .09167 - .23701

B variance 2 .12

s 480

assumed

Equal .61 174 .536 .05610 .09057 - .23486

variance 9 .15 .12

s not 1 265

assumed

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 The grade 11 participants practice positive FB (3.65) and has the highest

mean score of out of all the grade levels as shown in table 7. Positively, grade

levels from nine to 12 exhibits positive financial behavior and no grade level

generally practices negative financial behavior. However, there is no significant

difference between the FB of the high school participants based on their grade

level as supported in table 8.

The results may be attributed to a person’s level of maturity and age. As

mature people, they will start dealing with financial decisions along with the

increase of their financial knowledge and practice of financial behaviors (Gutter

et al., 2010; Lyons et al., 2006; Roberts, 2006). Another probable cause may be

the student’s financial independence from their parents (Fluellen, 2013). When

the person ages, they likely choose to be independent to their parents financially

hence making a student to explore the financial world independently (Gutter et

al., 2010).

This implies that as a person matures their financial knowledge will

increase thus the negative and positive financial behavior that is being formed

either gets stronger or higher as well (Gutter et al., 2010; Lyons et al., 2006, &

Roberts, 2006). Indeed, the increase of financial knowledge is one of the main

factors that contributed to the results (Akben-Selcuk, 2015). The findings confirm

the study of Paulson and Shastry (2000), wherein high school students who learn

more or gains more financial knowledge therefore stronger financial behavior.

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Table 7. Financial Behavior of high School Students Based on Grade Level

POSITIVE FINANCIAL Grade Grade Grade Grade Grade Grade

BEHAVIOR 7 8 9 10 11 12
1. I make plans on how to 3.40 3.50 3.82 3.30 3.83 3.88
spend my money.
2. I have chosen the 3.10 3.00 3.63 3.64 3.89 3.76
financial product
independently.
3. I am not borrowing more 3.00 3.00 3.72 3.50 3.95 3.76
than what I will be
needing.
4. I focus on the financial 3.20 3.27 3.52 3.51 4.00 3.35
future rather than on
today.
5. I am not being sudden 3.14 3.40 3.32 3.26 3.63 2.94
with financial decisions.
6. I am not overspending 3.3 3.00 3.39 3.26 3.16 3.12
money in items that I do
not need.
7. I follow the plans I make 2.89 3.20 3.39 3.03 3.11 3.29
for spending money.
Grand mean 3.15 3.20 3.54 3.36 3.65 3.44
MTP- MTP- P-FB P-FB P-FB P-FB
FB FB

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LEGEND:

MEAN STATE OF FB LEVEL OF FB

4.21 – 5.00 Very true of me (VT) High Positive Financial Behavior
(HP)
3.41 – 4.20 True of me (T) Positive Financial Behavior (P)
2.61 – 3.40 Often true of me (OT) Moving Towards Positive Financial
Behavior (MTP)
1.81 –2. 60 Not true of me (NT) Negative Financial Behavior (N)
1.00 –1. 80 Totally not true of me (TNT) Very Negative Financial Behavior
(NV)

Table 8. One-Way ANOVA of Financial Behavior based of Grade Level

FB

Sum of Mean

Squares df Square F Sig.

Between 3.565 5 .713 1.973 .085

Groups

Within Groups 62.887 174 .361

Total 66.452 179

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 95% Confidence

Std. Interval for Mean

Deviatio Std. Lower Upper Minim Maxim

N Mean n Error Bound Bound um um

Grade 44 3.206 .59152 .0891 3.0270 3.3867 2.00 4.57

7 8 7

Grade 30 3.311 .52572 .0959 3.1150 3.5076 2.42 4.42

8 3 8

Grade 31 3.535 .53641 .0963 3.3390 3.7326 2.43 5.00

9 8 4

Grade 39 3.407 .72026 .1153 3.1737 3.6407 1.29 5.00

10 2 3

Grade 19 3.637 .60136 .1379 3.3481 3.9277 2.43 4.57

11 9 6

Grade 17 3.452 .55744 .1352 3.1657 3.7390 2.29 4.14

12 4 0

Total 180 3.393 .60930 .0454 3.3034 3.4826 1.29 5.00

0 1

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 The ABM participants exhibit the highest positive FB (3.84) followed by

STEM participants (3.43) and lastly by the HUMSS participants (3.51) as seen in

table 9. Generally, the positive FB of all strands in senior high is the plan making

on how they will spend their money (4.06; True of me).

Since ABM strand is mostly about the finances, ABM students have more

knowledge about this matter. This implies that the more knowledge students have

about their financial responsibility and status the less likely they are to be in a

negative side of financial behavior (Norvilitis et al., 2006).

One of the factors that may have contributed to this result was financial

knowledge that each strand learns. ABM have a more enhanced financial

behavior and more knowledge that thy woul be able to apply to the real world

(Longa, Pangan, Quijano, & Vogara, 2017).

The findings confirms the study of Longa, et al. (2017), wherein

ABM students are likely and more capable to apply the financial knowledge

that they have learn in class to the real world.

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Table 9. Financial Behavior (FB) of Senior High School based on Strand.

POSITIVE FINANCIAL ABM HUMSS STEM TOTAL

BEHAVIOR MEAN
1. I make plans on how to 4.2 4.4 3.57 4.06
spend my money.
2. I have chosen the financial 4 3.8 3.76 3.85
product independently.
3. I am not borrowing more 4.3 3.4 3.76 3.82
than what I will be needing.
4. I focus on the financial 4 3.4 3.62 3.67
future rather than on today.
5. I am not being sudden with 3.8 3.6 3 3.47
financial decisions.
6. I am not overspending 3.3 3 3.10 3.13
money in items that I do not
need.
7. I follow the plans I make for 3.3 3 3.19 3.16
spending money.
Grand mean 3.84 3.51 3.43 3.60
P-FB P-FB P-FB P-FB

Table 10 shows that majority of the high school participants shows that

they are satisfied as a financial well-being. Specifically, 58%, highest percent,

are satisfied and 26% are very satisfied. Fortunately, only 15% are not satisfied

26
and 1% are very not satisfied as a financial well-being. Nonetheless, almost 80%

of the participating high school students show satisfaction financially.

This implies that the participants who have high positive financial

behavior also rate themselves as a financially satisfied (Xiao, Chen, & Chen,

2013).

One of the factors that may contribute to the results is the level of financial

knowledge a student have. Previous studies show that financial knowledge is

positively associated with financial satisfaction (Xiao et al., 2013). Moreover,

financial satisfaction of a person can also be influence by the difference of their

demographics and financial management practices (Morgan, 1992).

The findings confirms the study of wherein the students are financially

satisfied with their situation (Ali, Rahman, & Bakar, 2009) however, participants

who have low level of financial satisfaction were the people who were not

prepared to manage more sophisticated behaviors (Joo and Grable, 2004).

27
Table 10.Financial Satisfaction (FS) of High School Students.

LEVEL OF FS FREQUENCY PERCENT

Very Satisfied Financial well-being 47 26
Satisfied Financial well-being 105 58
Not Satisfied Financial well-being 26 15
Very Not Satisfied Financial well-being 2 1
TOTAL 180 100

Table 11 shows that majority of the high school students are satisfied

(2.90) with their financial matters. Nonetheless, the participants are mostly

satisfied with the current debt they have (3.11) while they are less satisfied with

the level of their charitable giving (2.63). Fortunately, almost 90% of the

participants exhibit high satisfaction on their financial.

This implies that the participants have high satisfaction towards their

current debt. The participants have exhibited an effective management of their

money in terms of their credits (Borden et al., 2008; Rao and Barber, 2005).

Most of the young people nowadays manage their money independently,

some also borrow a huge amount of money (Lyons, 2008; Peng et al., 2007; Scott,

2010; Xiao et al., 2009). Nevertheless, demographics also have an effect to the

financial satisfaction since the participants are still students they are less likely to

have a huge amount of debt compared to those who are working (Morgan, 1992).

28
 The results confirms the study of Gutter and Copur (2011) wherein

financial management and proper application of financial behavior decreases the

debt ratings of an individual (USA Today/NEFE, 2006).

Table 11. Financial Satisfaction (FS) of High School Students

FINANCIAL SATISFACTION MEAN INTERPRETATION

1. My current debt. 3.11 SATISFIED

2. My extra money that I am able to 3.02 SATISFIED
buy for myself and/or loved ones.
3. The level of financial education that 3.01 SATISFIED
I attained.
4. My ability to meet my financial 2.97 SATISFIED
responsibilities.
5. My savings and/or investments on a 2.93 SATISFIED
regular basis.
6. The feelings I have about my money. 2.92 SATISFIED

7. How I respond emotionally to my 2.89 SATISFIED

personal financial matters.
8. My ability to communicate about my 2.81 SATISFIED
financial matters.
9. My spending habits. 2.77 SATISFIED
10. My level of charitable giving. 2.63 SATISFIED
GRAND MEAN 2.90 SATISFIED

29
LEGEND

MEAN LEVEL OF FS
3.26-4.0 VERY SATISFIED FW-B
2.51-3.25 SATISFIED FW-B
1.76-2.50 NOT SATISFIED FW-B
1.00-1.75 VERY NOT SATISFIED FW-B

The male high school student-participants shows higher mean of

satisfaction (2.93; Satisfied) as compared to the females (2. 87; Satisfied) as seen

in table 12. Moreover, the financial satisfaction of the male participants is that

they are satisfied with their current debt (3.09; Satisfied) while the female is

satisfied with the extra money that they are able to buy for themselves and/or

loved ones (3.05; Satisfied)

This implies that men and women differ in their satisfaction with some

aspects of finances (Hira & Mugenda, 2000). Studies have shown that females

are more likely than men to exhibit compulsive buying (Christensen, 1992;

O’Quinn & Faber, 1989)

One factor that may have contributed to such result is the perception to

their financial situations (Katona, 1975). Studies found that men felt better about

their financial situation as compared to women (Hira & Mugenda, 2000).

The finding confirms the study of Cottle (1976) wherein men and women

differed in their perception of time, which in turn affects their financial

30
satisfaction. However the study of Fitzsimmons and Wakita (1993) found that

there is no gender difference in expectations of financial conditions.

Table 12. Financial Satisfaction (FS) of High School Students based on Sex

FINANCIAL SATISFACTION MALE FEMALE

n = 101 n = 79
1. My current debt. 3.09 (S) 3.14 (S)
2. My extra money that I am able to buy 2.99 (S) 3.05 (S)
for myself and/or loved ones.
3. The level of financial education that I 3.03 (S) 2.97 (S)
attained.
4. My ability to meet my financial 3.04 (S) 2.87 (S)
responsibilities.
5. My savings and/or investments on a 2.95 (S) 2.90 (S)
regular basis.
6. The feelings I have about my money. 2.96 (S) 2.87 (S)
7. How I respond emotionally to my 2.89 (S) 2.90 (S)
personal financial matters.
8. My ability to communicate about my 2.83 (S) 2.77 (S)
financial matters.
9. My spending habits. 2.89 (S) 2.62 (S)

10. My level of charitable giving. 2.60 (S) 2.66 (S)

GRAND MEAN 2.93 (S) 2.88 (S)

Table 13 shows that grade 9 students show the highest satisfaction (2.97;

Satisfied) while the grade 12 students are the least satisfied (2.7; Not satisfied)

31
out of all 6 grade levels. Generally, the level of financial satisfaction of the

participants is satisfied (2.85).

This implies that since junior high has less matter to expend, they are

more likely to be satisfied with their financial situation as compared to the senior

high (Stollak, Vandenberg, Steiner, & Richards, 2011).

One factor that may have contributed to such result is the spending habits.

Studies found that lower years were much more likely to enjoy spending all their

money than the higher years (Stollak et al., 2011).

The finding negates the study of Xiao (2016) wherein through the years

as financial education increases, the more financial capability a person has

therefore more contribution to the financial satisfaction.

32
Table 13. Financial Satisfaction (FS) of High School Students based on Grade

Level

FINANCIAL Grade Grade Grade Grade Grade Grade

SATISFACTION 7 8 9 10 11 12
1. My current debt. 2.70 3.00 3.18 3.25 3.50 3.05
2. My extra money that I 2.95 3.1 3.13 3.08 2.68 3.06
am able to buy for
myself and/or loved
ones.
3. The level of financial 2.89 2.97 3.03 3.23 3.05 2.76
education that I
attained.
4. My ability to meet my 2.98 3.07 3 3 2.95 2.65
financial
responsibilities.
5. My savings and/or 2.91 2.87 3.13 3.08 2.84 2.47
investments on a
regular basis.
6. The feelings I have 2.86 2.87 2.97 3.10 2.79 2.76
about my money.
7. How I respond 2.61 2.9 3.16 3 3 2.76
emotionally to my
personal financial
matters.
8. My ability to 2.80 2.67 2.94 2.87 2.95 2.53
communicate about
my financial matters.
9. My spending habits. 2.73 2.87 2.71 2.82 2.79 2.71
10. My level of charitable 2.52 2.8 2.52 2.90 2.58 2.24
giving.
Grand mean: 2.81 2.92 2.97 3.03 2.92 2.7
(S) (S) (S) (S) (S) (NS)

33
 Table 14 shows that most of the senior high school is satisfied

financially (2.80; Satisfied). However, the STEM exhibits the highest

satisfaction (2.85) followed by ABM (2.75) and lastly HUMSS being

dissatisfied with their financial situation (2.8; Not satisfied). Positively, the

financial satisfaction of all strands in senior high is that they are satisfied with

their current debt (3.30; Satisfied).

This implies that there is a need for senior high school students to be

equipped with financial literacy in order to achieve financial satisfaction

(Opoku, 2016).

One factor that may have contributed to such result is the demographic

characteristics such as age, education level gender etc. Literature has shown that

there is a relationship between these characteristics and satisfaction (Hogarth &

Hilgert, 2002).

The finding confirms the study of (Opoku, 2016) wherein a person’s

education has an effect on the persons finance. However, there is contraction as

many graduate of university have proven that education does not necessarily

mean that one has high financial autonomy (Rooiji, Lusardi, & Alessie, 2007).

34
Table 14.Financial Satisfaction (FS) of Senior High School based on Strands.

FINANCIAL SATISFACTION ABM HUMSS STEM TOTAL

MEAN
1. My current debt. 3.4 3.2 3.29 3.30
2. My extra money that I am able 2.4 3 3.05 2.82
to buy for myself and/or loved
ones.
3. The level of financial 2.9 3 2.91 2.93
education that I attained.
4. My ability to meet my 2.9 2.6 2.81 2.77
financial responsibilities.
5. My savings and/or investments 2.4 2.6 3.81 2.60
on a regular basis.
6. The feelings I have about my 2.6 3 2.81 2.80
money.
7. How I respond emotionally to 2.7 2.8 3 2.83
my personal financial matters.
8. My ability to communicate 2.7 2.6 2.81 2.70
about my financial matters.
9. My spending habits. 2.6 2.8 2.81 2.74
10. My level of charitable giving. 2.9 2.4 2.19 2.50
Grand mean 2.75 2.8 2.85 2.80

Based on table 9, the correlation of analysis on the association of FB and FS

shows significance at the 0.01 level

35
Table 15.Correlation of Financial Satisfaction and Financial Behavior

of High School Students

FB FS

FB Pearson Correlation 1 .398**

Sig. (2-tailed) .000

N 180 180

FS Pearson Correlation .398** 1

Sig. (2-tailed) .000

N 180 180

**. Correlation is significant at the 0.01 level (2-tailed).

36
Table 16.Correlation of Financial Satisfaction and Overall Life

Satisfaction of High School Students

FS OLS

FS Pearson Correlation 1 .454**

Sig. (2-tailed) .000

N 180 180

OLS Pearson Correlation .454** 1

Sig. (2-tailed) .000

N 180 180

**. Correlation is significant at the 0.01 level (2-tailed).

Majority of the high school participants shows that they are satisfied with

their overall well-being as seen in table 17. Specifically, 43%, highest percent,

are satisfied and 29% are not satisfied and unfortunately, only 25% are very

satisfied. Nonetheless, almost 70 % of the participating high school students show

a satisfaction on their overall well-being.

This implies that successful management of expenses can directly

increase a person’s overall life satisfaction (Xiao et al., 2008).

One factor that may have contributed to such result is the perception of

each individual. Management may make students think that that they have more

37
control over their lives, a perception that would thereby increase their overall life

satisfaction (Xiao, et al., 2008).

The finding negates the study of Yu & Lee (2008) wherein there are

underlying mediating mechanism such as perceived life control or self-esteem

that could possibly be the factors to the increase of overall life satisfaction.

Table 17. Overall Life Satisfaction (OLS) of High School Students

LEVEL OF OLS FREQUENCY PERCENT

Very Satisfied Overall Well-Being 45 25
Satisfied Overall Well-Being 77 43
Not Satisfied Overall Well-Being 52 29
Very Not Satisfied Overall Well-Being 6 3
TOTAL 180 100

Table 18 shows that the highest satisfaction of high school participants

is that they are satisfied with their life (2.95; Satisfied) while the least

satisfaction is the changing over their life (2.54; Satisfied). Positively, most of

the participants are satisfied with their life as a whole (2.75).

Such findings imply that these participants perceived overall life

satisfaction as a positive or negative insight in terms of life events, which makes

the individual more eager and exhilarated or more displeased and low-spirited

(Diener, Oishi, & Lucas, 2009).

38
 Factors that may have contributed to such result is their focus on the bright

side of life, enjoying their study space, managing their financial aspect, enjoying

their relationship with cheerful people, overcoming their challenges and learning

from it, and participating in delightful events that enhances one’s perspective of

live and increases their level of satisfaction (Kuppens, Realo, & Diener, 2008).

However, according to Ng and Diener (2014), material wealth has a

greater importance to the rich in relation to their sensation of satisfaction as

compared to the poor.

Table18. Overall Life Satisfaction (OLS) of High School Students

OVERALL LIFE SATISFACTION MEAN INTERPRETATI

ON
1. I am satisfied with my life. 2.95 SATISFIED
2. So far, I have gotten the important things I 2.81 SATISFIED
want in life.
3. The conditions of my life are excellent. 2.76 SATISFIED
4. In most ways my life is close to my ideal. 2.68 SATISFIED
5. If I could live my life over, I would change 2.54 SATISFIED
almost nothing.
Grand Mean: 2.75 SATISFIED

39
LEGEND:

MEAN SATISFACTION
3.26-4.0 VERY SATISFIED
2.51-3.25 SATISFIED
1.76-2.50 NOT SATISFIED
1.00-1.75 VERY NOT SATISFIED

The female high school student-participants shows higher mean of

satisfaction (2.76; Satisfied) as compared to the males (2.74; Satisfied) as seen in

table 19. Moreover, the overall life satisfaction of the participants is that both

genders are satisfied with their life (2.94 and 2.96; Satisfied). Positively, both

male and female exhibits satisfaction on their overall well-being.

Such findings imply that life satisfaction is not simply a result of various

life forces, but it is a relevant factor of many life outcomes, such as successful

occupational, interpersonal, and health outcomes (Huebner & Suldo, 2004).

One factor that may have contributed to this result is the satisfactions in

other domains. Such domains are the financial satisfaction and academic

satisfaction (Xiao et al., 2008). Since academic achievement is the most

important life aspect for many students, it can significantly contribute to the

overall life satisfaction of a student (Asma & Ramzi, 2013).

The finding confirms the study of Dost (2007) wherein males and females

have difference however not statistically. Nevertheless, other studies found that

40
male have higher satisfaction than female (Goldbeck, Schmitz, Besier, Hersbach,

& Henrich, 2007).

Table 19.Overall Life Satisfaction based on Sex.

OVERALL LIFE SATISFACTION MALE FEMALE

1. I am satisfied with my life. 2.94 2.96
2. So far, I have gotten the important things I 2.76 2.86
want in life.
3. The conditions of my life are excellent. 2.76 2.76
4. In most ways my life is close to my ideal. 2.70 2.65
5. If I could live my life over, I would change 2.53 2.56
almost nothing.
Grand mean 2.74 (S) 2.76 (S)
LEGEND FOR OLS:

MEAN SATISFACTION
3.26-4.0 VERY SATISFIED
2.51-3.25 SATISFIED
1.76-2.50 NOT SATISFIED
1.00-1.75 VERY NOT SATISFIED

Table 20 shows that grade 9 students exhibit the highest satisfaction (2.88;

Satisfied) while the grade 11 students are the least satisfied (2.41; Satisfied) out

of all 6 grade levels. Furthermore, the overall life satisfaction of the participants

is that in most ways their life is close to their ideal (3.18). Generally, the level of

financial satisfaction of the participants is satisfied (2.79).

41
 Such findings imply that whatever comprises overall satisfaction varies

for each individual and every life condition adds to this opinion and it explains

the multiple aspects and various concepts of overall life satisfaction (Campara et

al., 2017).

One factor that may have contributed to such result is the individual’s

objective evaluation in relation to one’s experiences which either led to

satisfaction or discontentment with life (Cheung & Lucas, 2015). According to

Bateman and Suldo (2014), domains relevant in global life satisfaction appear

different among teenagers who are rather extreme in terms of their health and

culture.

However, compared to a study that interviewed their sample of BFP

beneficiaries who asked whether they have all that they need, 46% of their

respondents were satisfied but not with what they need (Campara et al., 2017).

42
Table 20. Overall Life Satisfaction based on Grade Level.

OVERALL LIFE Grade Grade Grade Grade Grade Grade

SATISFACTION 7 8 9 10 11 12

1. In most ways my 2.66 2.83 2.71 2.77 2.32 2.59

life is close to my

ideal.

2. So far, I have 2.70 2.73 2.94 3.10 2.42 2.71

gotten the

important things I

want in life.

3. I am satisfied 2.98 2.17 3.06 2.95 2.63 2.65

with my life.

4. The conditions of 2.82 2.73 2.87 2.87 2.53 2.47

my life are

excellent.

5. If I could live my 2.45 2.67 2.84 2.56 2.16 2.41

life over, I would

change almost

nothing.

Grand mean 2.72 2.83 2.88 2.85 2.41 2.56

43
 The table 21 shows that HUMSS and STEM are the most satisfied (2.59;

Satisfied) as compared to the ABM strand (2.46; Not satisfied). Furthermore, the

participant’s overall life satisfaction is that they are satisfied with their life and

so far they have everything that they wanted (2.51; Satisfied). Positively, senior

high schools are satisfied (2.54) with their overall well-being.

Such findings imply that whatever comprises overall satisfaction varies

for each individual and every life condition adds to this opinion and it explains

the multiple aspects and various concepts of overall life satisfaction (Campara et

al., 2017).

One factor that may have contributed to such result is the individual’s

objective evaluation in relation to one’s experiences which either led to

satisfaction or discontentment with life (Cheung and Lucas, 2015). According to

Bateman and Suldo (2014), domains relevant in global life satisfaction appear

different among teenagers who are rather extreme in terms of their health and

culture.

However, compared to a study that interviewed their sample of BFP

beneficiaries who asked whether they have all that they need, 46% of their

respondents were satisfied but not with what they need (Campara et al., 2017).

44
Table 21. Overall Life Satisfaction of Senior High School Students based on

Strands

OVERALL LIFE ABM HUMS STEM TOTAL

SATISFACTION S MEAN

1. I am satisfied with my life. 2.7 2.2 2.71 2.51

2. So far, I have gotten the 2.5 2.4 2.61 2.51
important things I want in life.

3. The conditions of my life are 2.5 2.2 2.57 2.42

excellent.
4. In most ways my life is close 2.3 2.4 2.53 2.41
to my ideal.
5. If I could live my life over, I 2.3 1.4 2.48 2.06
would change almost nothing.

Grand mean 2.46 2.59 2.59 2.54

Based on table 22, the correlation of analysis on the association of FB and OLS

shows no significance level…..

45
Table 22. Correlation of Financial Behavior and Overall Life Satisfaction

Correlations

FB OLS

FB Pearson Correlation 1 .066

Sig. (2-tailed) .378

N 180 180

OLS Pearson Correlation .066 1

Sig. (2-tailed) .378

N 180 180

46
 CONCLUSIONS AND RECOMMENDATIONS

Conclusions

Taking into account all of the results from the data that we conducted, the

researchers have been able to come up with the conclusions that only a total of

16 out of 180 high school students have a strong positive financial behavior, that

is 9% of the entire population. While financial satisfaction has a total of 47 (26%)

high school students who are very satisfied to their financial well-being. As for

the overall life satisfaction, there is a total of 45 (25%) high school students who

are as well very satisfied of their life as a whole. This research as well found that

there is statistical significance between financial behavior, financial satisfaction

and the overall life satisfaction. Due to the lack of time and resources for

financial knowledge, the researchers could not include this variable in the results

and discussion.

Recommendation

It is recommended that future analyses would further explore the financial

knowledge of an individual for a better assessment of financial behavior and

satisfaction. Further research can be done by finding effective data collection

instruments for financial behavior which will give depth to the independent

variable and significant importance in the paradigm of the study

47
APPENDICES

48
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Behavior in Turkey: Evidence from a National Survey , 87.

CAMPARA, J., VIEIRA, K., & POTRICH. (2017). Overall Life Satifaction and
Financial Well Being: Revealing the Perceptions of the Beneficiaries of
the Balsa Familia Program.

COSKUNER, S. (2016). Understanding Factor Affecting Financial Satisfaction:

The Influence of Financial Behavior, Financial Knowledge and
Demographics. Inspirational Journal of Interdisciplinary Research, 377-
380.

DANES, S. M., & HIRA, T. K. (1987). Money Management Knowledge of

College Students. Journal of Student Financial Aid, 4.

Essays, U.K. (2013, November). Retrieved from Definitions available for

quantitative research given by different authors:
http://www.ukessays.com/essays/psychology/definitions-available-for-
quantitative-research-given-by-different-authors-psychology-
essay.php?vref=1

FLUELLEN, V. M. (2013). Exploring the Relationship Between Financial

Behavior and Financial Well-Being of African American College
Students at One Historically Black Institution. 1, 11-12, 97, 100-101, 103.

GUTTER, M., & COOPER, Z. (2011). Financial Behaviors and Financial Well-
Being of College Students: Evidence from a National Survey.

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HOGARTH, J. M., BEVERLY, S. G., & HILGERT, M. (2013). Patterns of
Financial Behaviors: Implications for Community, Education, and Policy
Makers . 1-2, 4.

ISOMIDINOVA, G., & SINGH, J. S. (2017). Determinants of Financial Literacy:

A Quantitative Study Among Young Students in Tashkent, Uzbekistan.
Electronic Journal of Business & Management, 67.

KIDWELL, B. (2017). An Examination of College Student Money Management

Tendencies. Journal of Economic Psychology, 601.

KIDWELL, B., & BRINBERG, D. (2006). Determinants of Money Management

Behavior. Journal of Applied Social Psychology, 1244, 20245.

MIEN, N. T. (2014). Factors Affecting Personal Financial Management

Behaviors. 2-5.

RAMOS, A. M., BARLEM, J. G., LUNARDI, V. L., SILVEIRA, R. S., &

Bordignon, S. S. (2014). Satisfaction with Academic Experience Among
Undergraduate Nursing Students.

SHIM, S., BARBER, B. L., CARD, N. A., XIAO, J. J., & SERIDO, J. (2009).
Financial Socialization of First-year College Students:. J Youth
Adolescence, 1-2, 4 .

TEZEL, Z. (2015). Financial Education for Children and Youth. Handbook of

Research on Behavioral Finance and Investment Strategies: Decision
Making in the Financial Industry.

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The World Bank. (2018). Retrieved from Responsible Finance; Financial
Consumer Protection and Financial Capability:
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s/behavior-attitudes

XIAO, J. J. (2008). Applying Behavior Theories to Financial Behavior. 70.

XIAO, J. J., Shim, S., & Tang, C. (2008). Acting for Happiness: Financial
Behavior and Life Satisfaction of College Students. 55, .

51
 Biographical Sketch

Majaisha V. Bastian is the first child among the three siblings of Mr. and
Mrs. Bastian. Born on the 14th day of November, 2000. She went and completed
her elementary in two different schools, these were La Trinidad Central School
(LTCS) and Bahong Elementary School (BES) where she graduated and garnered
several awards for her academics and skills in competitions. She then went to San
Jose School of La Trinidad (SJSLT) for her 7th grade where she was as well
awarded as a top of their class but later transferred and currently studying as a
grade 12 student at H.O.P.E Christian Academy Inc. in the Accountancy and
Business Management (ABM) strand. In her junior and senior high school years
she continues to grasp Achievers Award. She plans on taking up BS Business
Administration major in Management in Saint Louis University at Baguio.

As a young child who grew up in a less fortunate family, inspired her

choice to become a doctor. However, along the years she has discovered that she
does well in managing money, stores and events. She goes along with her parents
whenever they arrange flowers in an event and likes going to the hotels where
her uncle teaches her how to manage. With her passion to help her skilled but
unemployed family members came her dream to put up a hotel where she can
accommodate all their talents and skills in culinary, arts, music etc. At the
moment she continually strives to reach her dreams through perseverance and
trust in God.

Alonzo B. Calias Jr. is currently a grade 12 student at H.O.P.E. Christian

Academy Inc., specializing in Accountancy and Business Management strand.
He was born as the fifth child on June 3, 2000 among the 6 siblings to both Mr.
Alonzo Calias Sr. and Ms. Ernestina Calias. He joined several Sci-DaMath
competition representing the said school when he was in Junior High School.

52
 After graduating senior high, he plans taking up Entrepreneurship in the
Saint Louis University. Aside from college, He aspires to be part of the Philippine
Military Academy. He plans to take the PMAE Examination on upcoming year
2019. He also wants to fulfill the dream of his family members and willing to
serve the country. He would always spend his spare time reading books, helping
his parents from work, cooking, and physically working out. Commitment to
serve the Lord with everything God has planned for him to do was his biggest
goal in life.

Yvanah Gabrielle T. Capuyan is currently a grade 12 student at H.O.P.E.

Christian Academy Inc., specializing in the Accountancy and Business
Management strand. She was born on December 24, 1999 as the fourth child
among five siblings of Mr. Bernard Capuyan and Ms. Marie Luz Capuyan. She
participated in SIP Abacus Math Competitions both national and international
and aims to achieve the Grandmaster level.

After graduating senior high, she plans to study Bachelor of Science of

Accountancy in Baguio City. Her hobbies are reading books, writing, playing the
violin and training on her abacus. She also wants to achieve her dreams of
composing her own songs and train herself by ear when playing the violin,
continue to advance in using an abacus and to write her own book that will impact
people’s lives. Her passion to serve God motivates her to develop and improve
her skills and abilities. She also plans to travel the world to see the diverse and
unique countries because of her curiosity and thirst for adventure.

53
 ACKNOWLEDGEMENTS

The research manuscript, being one of the final accomplishments and a

benchmark to signify the greatest completion of Grade 12 students in the senior

high department, has now reached its end goal of achievement, expressing our

gratitude to the grace of God, through Him who has given us all that we have

needed to accomplish this task receives all the glory and honor.

The researchers would also like to thank the persistent dedication of their

research teacher, Christian Mark S. Guyo, who has given all his time and efforts

to ensure that this task would be accomplished and polished into its finest product

and to allow the researchers to be able to progress and reach its state of

accomplishment.

The researchers would also like to thank this opportunity to thank the

school, to whom the researchers extend a grateful hand of thankfulness for

providing the senior high school students with required resources to finish their

research. The researchers thank H.O.P.E. Christian Academy, Inc. and its

students for their presence, patience and cooperation in that permitted the

completion of this manuscript.

The researchers would also like to show gratitude to our research adviser

Christian Mark S. Guyo, once again, for sharing their pearls of wisdom and

guiding the researchers throughout the process of making the research paper and

54
to the panel of examinees Ma’am Evangeline Rachel S. Mandapat who also

serves as H.O.P.E.’s school administrator, to Ma’ am Kara S. Panolong and to

Ma’am Janet Lynn S. Montemayor who cooperated with the request of the

adviser of Research subject

Once more, all of this would not have been possible without the divine

intervention of God and His works. To God be all the glory, and honor, and

praise! It would never have been possible without our faith and persistence from

God.

MAJAISHA BASTIAN

YVANAH GABRIELLE CAPUYAN

ALONZO CALIAS JR

55