Relationship between Parental Financial Support and Student Spending Pattern at the Tertiary Level
Reymart M. Abrio
Davao Oriental State University, Cateel Campus (DorSU-CC), Mahan-ob, Mainit, Cateel, Davao Oriental, Philippines.
Kevin P. Banudan
Davao Oriental State University, Cateel Campus (DorSU-CC), Mahan-ob, Mainit, Cateel, Davao Oriental, Philippines.
John Kenneth Jay A. Catagasan
Davao Oriental State University, Cateel Campus (DorSU-CC), Mahan-ob, Mainit, Cateel, Davao Oriental, Philippines.
Sheila Marie S. Guerra
Davao Oriental State University, Cateel Campus (DorSU-CC), Mahan-ob, Mainit, Cateel, Davao Oriental, Philippines.
Denn Mark L. Lobo
Davao Oriental State University, Cateel Campus (DorSU-CC), Mahan-ob, Mainit, Cateel, Davao Oriental, Philippines.
Merlyn Muya *
Davao Oriental State University, Cateel Campus (DorSU-CC), Mahan-ob, Mainit, Cateel, Davao Oriental, Philippines.
*Author to whom correspondence should be addressed.
Abstract
This study examined the relationship between parental financial support and student spending patterns among 321 tertiary students at Davao Oriental State University-Cateel Campus, Philippines using a descriptive correlation research design. Findings revealed that students generally received a high level of parental financial support, which significantly influenced their spending behaviors across four categories: personal needs, food, academic purposes, and transportation. The results showed that students prioritized academic-related expenses the most, followed by food, transportation, and personal needs. Pearson correlation analysis revealed a moderate and significant relationship (r = 0.453, p < 0.05) between parental financial support and overall student spending patterns. Regression analysis further confirmed that parental support significantly predicted student spending behavior, accounting for 20.5% of the variation. The study highlights the importance of parental financial support in shaping students' financial decisions and emphasizes the need for financial literacy programs to promote responsible spending habits. The findings may guide parents, educators, and policymakers in developing interventions to enhance students' financial management skills and autonomy.
Keywords: Parental financial support, student spending pattern, financial behavior, tertiary education, financial literacy, descriptive correlation study, student, Cateel