CHAPTER III
Research Methodology
This section of the paper includes the research
design, research environment, research subjects, research
instrument, and procedures of this study.
Research Design
The research method of this study is descriptive-
correlational survey. This method was used to determine the
student’s financial literacy level based on their attitude
towards money.
Research Environment
The study was conducted at Mountain View College,a
denominational institute run by the Seventh-day Adventist
Church. It is located in Brgy. Mt.Nebo,Valencia City,
Bukidnon, 17 kilometers away from the city proper. The
students are staying in the dormitories, villages and some
of them are staying outside the campus as commuters.
Research Subjects
The respondents of this study are the students of
different courses in Mountain View College enrolled during
the second semester of the academic year 2019-2020.The
researcher will do the random sampling in choosing the
respondents.
Research Instruments
In gathering data, this study used the Money Attitudes
Scale (MAS) that were formulated by Kent T. Yamauchi and
Donald I. Templer (1982). The survey contains 29 items with
the range of 1=“never” to 7=“always” and it is divided into
four factors namely: Power-Prestige Factor – items are
purported describe the extent to which a person use money
to impress and influence others and believes money is a
symbol of success; Retention-Time Factor – items describe
people who are careful planners that prepare for future;
Distrust Factor – items attempt to capture the attitudes of
distrust and suspicion; and Anxiety Factor – items believed
to describe the attitude that money is a source of anxiety
and tension for people.
To measure the factor score, simply add the responses
to the items in each factor. The Power-Prestige factor is
items 3, 7, 10, 13, 16, 18, 21, 24 and 26. High score means
emphasizing the importance and desirability of money as a
status symbol and as influential in human behavior.
Retention-Time factor is items 1, 2, 6, 12, 14, 20, and 23.
On the process of preparation for financial security,
placing great value are high scoring persons while the low
scoring person tend to minimize. Distrust factor are items
4, 5, 8, 11, 17, 27 and 28.High scoring person could be
viewed as maintaining hesitant, suspicious and doubtful
attitudes when it comes to money. They may be described as
a complainer about money matters. Low scoring person,
conversely seen as trusting and accepting of situation
related to money issues. The Anxiety factor are items 9,
15, 19, 22, 25 and 29.High scorers are thought to express
nervousness and anxiety in interactions involving money.
Being denied opportunities in sale or in bargain situations
are viewed as contributing to anxiety. Low scorers are less
worrisome and less anxious with money and money situations.
Data Gathering Procedures
The researchers asked permission from the Registrar’s
Office to allow the researcher to get the lists of enrolled
college students in all courses. Then researchers will do
the random sampling to know who will be the respondents.
The researcher will distribute the questionnaires to
the respondents. In answering the questionnaire, the
respondents will be given enough time to answer. After the
respondents finished answering, the researchers gather the
questionnaire. Then data was tabulated and was submitted to
the statistician for statistical treatment after gathering.
Data Treatment
To answer question number 1, the mean of the responses
from the Money Attitude Scale was computed. To answer
question number 2, the mean and Standard deviation of
earned points was computed. The coefficient of correlation
was then performed to answer question number 3.
INSTRUCTION: In each question provided, kindly put
a check of your choice (please check only one).
VERY SELDOM
VERY OFTEN
SOMETIMES
QUESTIONS
SELDOM
ALWAYS
OFTEN
NEVER
1. I put money aside on a regular basis for the future.
2. I keep track of my money.
3. Although I should judge the success of people by their deeds, I am
more influenced by the amount of money they have.
4. It bothers me when I discover I could have gotten something for less
elsewhere.
5. I hesitate to spend money, even on necessities.
6. I have money available in the event of another economic depression
7. I use money to influence other people to do things for me.
8. When I make a major purchase, I have the suspicion that I've been
taken advantage of.
9. It's hard for me to pass up a bargain.
10. In all honesty, I own nice things in order to impress others.
11. After buying something, I wonder if I could have gotten the same for
les elsewhere.
12. I do financial planning for the future.
13. I seem to find that I show more respect to people with more money
than I have.
14. I follow a careful financial budget.
15. I show worrisome behavior when it comes to money.
16. I behave as if money were the ultimate symbol of success.
17. When I buy something, I complain about the price I paid.
18. People I know tell me that I place too much emphasis on the
amount of money a person has a sign of success.
19. I spend money to make myself feel better
20. I am very prudent with money.
21. I must admit that I sometimes boast about how much money I
make.
22. I show signs of nervousness when I don't have enough money.
23. I save now to prepare for my old age.
24. I must admit that I purchase things because I know they will impress
others.
25. I worry that I will not be financially secure.
26. I try to find out if other people make more money.
27. I automatically say, " I can't afford it", whether I can or not.
28. I argue or complain about the cost of things I buy.
29. I am bothered when I have to pass up a sale.
