Republic of the Philippines

City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City

FINANCIAL PROBLEM: STRUGGLES OF WORKING STUDENTS

Submitted in Partial Fulfillment of the Course Requirements for Ethics.

By:

Ibrahim, Basarodin B.

Landao, JR. Jose Ramelito C.

Lipa, Harold M.

Lontoc, Gerald I.

Lucero, Franciss A.

Madronero, Kenneth

Mazo, Jolly Ann L.

Mercado, John Lloyd B.

Monteroso, Alen D.

Nepacina, Jesusa Rubilyn B.

April 19, 2023

BSCRIM B2022
 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City

Introduction

A financial problem is when stress is being brought on by money problems. However, recent

financial issues have plagued college students and have grown to be a significant issue for them.

Students sometimes experience financial difficulties because they lack the funds to cover their

everyday costs, which makes them anxious. Halliday Wynes (2014) asserts that a student's financial

situation will have an impact on their dedication to studying, which will have an impact on their

academic achievement. Furthermore, the country as a whole had entered a recession as a result of

inflation and the trade war, which increased the number of students who were having financial

difficulties.

Filipino students are nevertheless able to provide for their financial needs by working despite their

financial difficulties. The Working Student (2016) claims to list the employment opportunities for

Filipino working students, particularly online jobs, Fast food crew, paid corporate internships, and

academic positions. Students in the Philippines are straining because they need to complete their task

to the required standards in order to preserve their academic achievement in order to avoid losing

their employment, and failure to pass. Currently, there are over 216,000 students balancing their

studies in the Philippines. The Commission on Higher Education (CHED) most recent data on the topic

of job and school. In line with CHED (2010), just half of the students who are working are able to

complete their degrees. Some people prioritize their education while others struggle with their health

or give up due to a financial issue.

Money is still vital in today's world, but the problem is that some individuals have a lot of it while

the others have less than they need. The majority of college students, in particular, are in financial
 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City
trouble because they lack expertise about how to handle their finances. While college students are

experiencing financial difficulty, they will be under a great deal of stress and will find it difficult to

focus on the professor. This will have an influence on their academic performance, including their

grades and results, and will harm their future while looking for employment.

We thus undertook a case study to demonstrate the effects on college students' academic

performance of failing to take the time to manage their finances as well as solutions.

Methodology

This illustrates an outline of research methods that were followed in the study. It provides

information on the participants, that is, the criteria for inclusion in the study, who the participants are

and how they will be sampled. The researcher describes the research design that was chosen for the

purpose of this study and the reasons for this choice. The instrument that will be used for data collection

is also described and the procedures that will be followed in carrying out this study are included. The

researcher also discusses the methods that will be used to analyze the data that will be gathered.

Research design

The researchers will use the qualitative interview methodology as the study is attempting to

know the struggles of working students on their finances. Specifically, a semi-structured interview will

be conducted so that the researchers can ask additional questions during the interviews if clarifications

and further explanations will be needed. The respondents' subjective and objective perceptions are

expected to form the core data of the study, hence it needed the method that would deal with the topic

in a narrative and descriptive nature.

 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City
Qualitative research is a subjective report which makes use of a phenomenological way to deal with

accumulating important information. This approach concerns understanding and interpreting the

meaning that participants provide to their everyday lives. Additionally, the qualitative approach centers

around characteristics of human conduct. The point of such a method is not to generalize but to

comprehend and interpret the meanings and intentions that underlie everyday human activities.

An interview guide will be administered to the respondents prior to the interview proper which will

include the questions that they will be asked during the interview.

Leedy (1993) explains that qualitative research is based on the belief that first-hand experience

provides the most meaningful data. It is also believed that qualitative data gives large volumes of quality

data from a limited number of people. It is aimed at understanding the world of participants from their

frame of reference (Walker, 1985).

Sampling

The method that is used in the process of making this part of the study is the Snowball Technique.

Snowballing is a non-probability sampling method that was employed to draw up a sample of

participants who provided adequate information for the investigation. Snowball sampling is a method

whereby the researchers' refer one by one to another member (De Vos, 1998; McClure, 2001). Although

the researchers relate to participants, the researchers selected participants who were rich in

information that is relevant to the study. The researcher is responsible for putting together a sample of

people from different backgrounds to get varied data.

 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City
Data Collection

After randomly selecting the respondents to be interviewed, a consent form will be given to each of

them before the interview and will serve as a document proving that they have given their permission

for them to be interviewed by the researchers. A brief description of the study is printed in the consent

form which also includes the confidentiality and disclosure of the respondents' name during and after

the completion of the study. After the consent form has been signed by the respondents, the

interviewer will inform them when the interview proper starts and so as the recording.

Furthermore, the other way that is being used for gathering data is online surveillance. The

survey form was personally distributed using Google Forms and sent as a message via Facebook

Messenger. Students will be informed through announcement to let them know about our research and

to ensure that their privacy and discretion are respected, appreciated, and maintained. Confusion

among the respondents will be followed by warning signs that are quite clear. There would be no need

for survey participants to feel uncomfortable giving their response or participating if the dissemination

of the survey data was adjusted to the responders' availability.

When all the respondents have already been interviewed and acknowledged, the recorded answers

will be transcribed into texts for analyzation.

Since this study is descriptive in nature, the use of a semi-structured interview will allow the

researchers some flexibility in the way they worded the questions for each individual respondent. It will

also give the researchers the opportunity to probe for more information and clarification when

necessary. The researchers need to have a skill to match the interview questions to an appropriate

technique (Neuman, 2000).

 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City

Data Analysis

When the answers of the respondents have already been transcribed into texts, which was

referred by Mthembu (2000) as raw data that need to be converted into refined data for better analysis

by the researcher, these would be translated into English as part of data refinement. The refined data

will be analyzed using thematic analysis. Braun and Clarke (2006) state that thematic analysis is a

foundational method of analysis that needed to be defined and described to solidify its place in

qualitative research. It is a method for identifying, analyzing, organizing, describing, and reporting

themes found within a data set (Braun & Clarke, 2006).

The questions that are being used in the survey:

● How much is your salary per month?

● Do your parents support your educational needs?

● Is your salary enough to support your needs in education?

● What are the struggles that you've encountered as a working student?

● How do you handle being a student and employee at the same time?

Did you miss some school work because of your work?

● If you missed some, how can you explain that to your professors or teachers?

● If you were given a chance, would you still pick to be a working student or not? Why?
 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City
The respondents' answers to each question will be evaluated and will be simplified into different

categories. The researchers will then form a conclusion and make recommendations based on the data

collected.

Result Findings

In this study we gathered information about our beloved working students around Taguig City

University as well as other universities. We conduct a survey questionnaire that contains questions that

might be related to the struggle of working students and how they handle the said struggles.

One of the struggles that they are facing is how to handle their time properly, they are having a

hard time organizing and planning how to divide their time between different activities. While some said

so, in the gathered information not all working students are having difficulties in managing their time,

they also said that proper time management helps them keep up with their tasks, activities, in school as

well as the tasks that were assigned in their working hours.

Some of our respondents receive the minimum wage, which is currently $570 per day. They

claim that this is insufficient to meet their educational needs, regardless of whether any are below or

above the minimum. With the collected data, we figure out that they are working because of financial

problems and in some cases they want to work because no one can support their financial needs and

educational needs.
 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City

Encoded data from our respondents

Questions Respondent 1 Respondent 2 Respondent 3

How much is your Above minimum wage Minimum wage Below minimum wage
salary per month?

Do your parents Yes Yes No

support your
educational needs?

Is your salary enough No

to support your
needs in education?
(If your parents
support your
educational needs
leave it blank)

What are the Time management Time management, Time management,

struggles that you've Morally support and Morally support,
encountered as a Lack of rest. Financial
working student?

How do you handle Just being motivated

It's just that I know my to make my dream Time management
being a student and
employee at the priorities. come true
same time?

Did you miss some Yes No Yes

schoolwork because
of your work?

If you missed some,

I will tell them my I'll just explain that I Because of work
how can you explain
that to your situation. just have trouble in
professors or managing my time , If
teachers?
only necessary. I'll only
 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City

make an explanation if
I think my reason of
not being able to pass
an requirements is
acceptable or not.

If you were given a

Yes, because I have my I'll still pick to be a Yes I want to be
chance, would you
still pick to be a own money and I can working student cause working student to
working student or buy what ever I want when I study and work support my financial
not? Why?
at the same time. I needed most specially
realized how to in school
manage my time and
realized how life is.
You just need to keep
moving forward and
take every step at a
time.

Discussion/ Analysis

Working students often face financial struggles due to the competing demands of work, school

and personal obligations. Many face financial pressures that cause stress and affect their overall

wellbeing.
 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City
Lack of financial literacy - Many working students lack the financial literacy needed to manage

their finances effectively. This can lead to poor financial decisions, such as taking out high-interest loans

or using credit cards to pay for expenses they can't afford.

Time management - Another financial problem faced by working students is time management.

Working long hours can make it difficult to keep up with schoolwork, leading to lower grades and

potentially extending the time it takes to graduate. This can lead to additional expenses and financial

strain.

Finding a balance between studies and work - Working students are often forced to work long

hours on top of their studies, leaving little or no time for leisure activities. This can have an impact on

their overall wellbeing as they struggle to find enough time to rest and recuperate.

Managing expenses - Balancing monthly expenses such as rent, food, transportation, and other

expenses can be very challenging for working students. Many may need to take loans or use credit cards

to cover expenses, leading to financial stress that affects their studies.

Financial struggles can be a major challenge for working students. To overcome these

challenges, it's important for students to develop strong financial literacy skills, create a budget, and

seek out additional financial aid when possible. Additionally, students may need to consider alternative

strategies, such as reducing expenses or working fewer hours, to balance the demands of school and

work.
 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City
Conclusions

The result of the study shows that time management is the primary struggle of many working

students. They are having a hard time organizing and planning how to divide their time between

different activities. Being a working student is challenging because you must divide your time between

work and study in order to balance the two responsibilities. There are many working students, despite

the fact that it's not easy to balance the two responsibilities but because of high tuition costs, lack of

funding for their education,and the inability of their parents to assist them due to household expenses,

they have no choice but to keep going. It has been established that every working student finds it

difficult to balance work and school because of the various challenges they face, such as having a tight

schedule and having their classes and working hours to overlap. Their professor often asks them the

reasons behind their frequent absences and why they're having a hard time keeping up with the class.

According to the study's findings, some of the working students receive the minimum wage which is

currently 570 pesos per day and regardless of whether any are below or above the minimum, they claim

that this is insufficient to meet their educational needs.

Recommendation

1. You should make adjustments when it comes to your expenses and you must keep track of

expenses and incomes that come on your way. Try to recall all of the recent, more or less

significant expenses. Consider all the items you frequently purchase with money. Then look over

each one individually and consider whether you can do away with it entirely or at the very least

significantly reduce it.

 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City
2. Learn to save and spend the money you earn in the right way, be wise in expenses and don't just

buy something if you don't need it. Invest the money, make a business, learn to appreciate

every cent you earned.

3. Find little observable evidence that students adjust their work behavior in an attempt to avoid

financial aid penalties. This apparent lack of response does not mean that these implicit income

taxes have no impact. The reduction in aid that many working students face adds extra financial

burden to resource constrained students. More work is needed to better understand the

associated consequences for students’ college success.

Solution

As a working student, you should be accountable for the purchases you make and be able to

manage your money. Setting up a budget is crucial. Be aware of your priorities, and you should also be

more adaptable. According to this study, taking charge of significant responsibilities is the key to

becoming a successful working student. Prioritizing, multitasking, responsibility, and budgeting skills are

all required. Having these abilities will assist you in minimizing the difficulties associated with working

and being a student.

 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City

Documentation

Researchers with some of our respondents

Respondents ( Interview )
 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City

Reference

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 Republic of the Philippines
City of Taguig
Taguig City University
Gen. Santos Avenue, Central Bicutan, Taguig City