Perspective of the UIC High School Students on the Effects of a Limited Range of Allowance on their Performance in School

Introduction: Opening Statement Monetary allowance contributes to our every action. As students, its uses extend to much more than basic essentials for everyday living. It is observable that the amount of allowance the students need to comply with the demands of the school increases as their degree or level of education increases. With this, the researchers have reason to study on whether their allowance range affects their performance in school or not in their own perspective. Originally, the investment of parents in students’ allowance was expected to make them grow old independently, to develop their skills in managing their budget, to build financial literacy. However, a survey by 2000 Jump$tart in the United States of America found 52.5 %, who didn’t receive an unconditional allowance while growing up, received the highest score in financial literacy while those who received an unconditional allowance had the lowest financial literacy rate of 49.1%. This meant that those who weren’t given an unconditional allowance had more knowledge about savings, spending, and credit. The lack of understanding on the said factors could be rooted to the cause of abusiveness being practiced by the students which includes acts that are considered detrimental to the concentration of students in school like addictive gaming, foolish acquisitions, excessive purchases, and many more. Furthermore, the essence of giving allowances was discussed by Rose Fres Fausto in PhilStar in the Philippines. She pointed that however a student might come out to be still depends on his/her parents. She agrees that the allowance of a child affects the skills of the child and can therefore imply effects in his/ her performance in school as well however it all depends with