Financial literacy and budgeting practices of Bachelor of Science in Business Administration Students

International Journal of Research Studies in Management
Divine Word College of San Jose Special Issue
2026 Volume 14 Issue 4

Available Online: 23 June 2026

Author/s:

Domingo, Florence S.*
Divine Word College of San Jose, Philippines (florencedomingo@gmail.com)

Barsaga, Jessua D.
Divine Word College of San Jose, Philippines (jessuadelossantosbarsaga31822@gmail.com)

Naval, Mary Jane R.
Divine Word College of San Jose, Philippines (maryjanenaval1592@gmail.com)

Galay-Limos, Jenny A.
Divine Word College of San Jose, Philippines (jennygalay05@gmail.com)

Abstract:

This study examined the relationship between financial literacy and budgeting practices among Bachelor of Science in Business Administration (BSBA) Financial Management students in San Jose, Occidental Mindoro. It specifically assessed the level of financial literacy in terms of financial knowledge, financial skills, and financial attitudes, as well as the level of budgeting practices in terms of budget planning, expense monitoring, and budget adherence. A descriptive correlational research design was employed, involving 297 respondents selected through stratified random sampling. Data were gathered using a researcher-made questionnaire and analyzed using weighted mean and Kendall’s tau-b correlation. Findings revealed that the respondents demonstrated a generally high level of financial literacy, with an overall mean of 3.11. Among its dimensions, financial attitudes had the highest mean, followed by financial knowledge. In contrast, financial skills had the lowest, indicating a gap between understanding financial concepts and applying them in practice. In terms of budgeting practices, the respondents showed a moderately high level (Mean = 3.02), with budget adherence rated highest and budget planning second. At the same time, expense monitoring received the lowest mean, suggesting inconsistency in tracking actual financial transactions. Correlation analysis showed a strong and statistically significant positive relationship between financial literacy and budgeting practices (τ = 0.641, p < .01). Among the dimensions, financial skills and financial attitudes exhibited stronger associations with budgeting practices than financial knowledge. These results imply that while students possess adequate financial understanding and positive financial attitudes, the application of financial skills remains a critical area for improvement. The study concludes that financial literacy significantly influences budgeting practices among BSBA students, but the translation of knowledge into consistent financial behavior requires strengthening. Enhancing experiential learning and practical financial skill development is recommended to improve students’ financial management capabilities.

Keywords: financial literacy, budgeting practices, financial knowledge, financial skills, financial attitudes, financial management students

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DOI: https://doi.org/10.5861/ijrsm.2026.26527

Cite this article:
Domingo, F. S., Barsaga, J. D., Naval, M. J. R., & Galay-Limos, J. A. (2026). Financial literacy and budgeting practices of Bachelor of Science in Business Administration Students. International Journal of Research Studies in Management, 14(4), 75-85. https://doi.org/10.5861/ijrsm.2026.26527

* Corresponding Author