ABSTRACT
This study explored the benefits of financial planning among BSBA students as a basis for enhancing financial literacy and academic performance. It focused on assessing students’ financial planning practices and their perceived impact on personal and educational outcomes.
The participants in this study were fifty (50) BSBA students, selected using the Cronbach method to determine sample size. Purposive sampling. The researcher conducted a survey designed to gather significant data regarding the respondents’ profile, specifically their age, sex, year level, monthly allowance, and financial planning habits. The study assessed financial planning in terms of budgeting, saving, spending discipline, and goal setting.
The findings revealed that the majority of respondents were aged 19 to 30 years old, female, in their third year of study, receiving a monthly allowance between Php 5,001 to Php 15,000, and practicing basic budgeting and saving strategies. Respondents agreed that financial planning positively influences their ability to manage resources, reduce financial stress, and maintain academic focus.
There was no significant difference in the perceived benefits of financial planning when respondents’ profiles were considered. Based on the results, a Financial Literacy Enhancement Framework (FLEF) was proposed to support and promote responsible financial behavior among BSBA students.
Keywords: financial planning, budgeting, saving, spending discipline, goal setting, financial literacy