UNIVERSITY OF ASIA AND THE PACIFIC

General Psychology
MINI RESEARCH

Submitted by:
Reyes, Maria Angeliza R.

Submitted to:
Ms. Foz Castro


I. Introduction
I used to wonder why I had lesser money (or none at all) compared to my friends who
would tell me they had thousands of pesos in their bank accounts and whatnot. Ive then decided
to use this mini research as an opportunity for me to change my behavior in spending money.
Not only would this help me save money, I think that it would also help me know more about the
importance of it.
As an aspiring entrepreneur, I must know how to handle my funds well in order to avoid
bankruptcy. As early as now, I want to know how to control myself from impulsive and
unnecessary spending because I tend to do that a lot.
At the start of each week, I am given P2,000, but as soon as the end of the week comes, I
am left with P0 or worse, in debt. I definitely would not want to carry on with this kind of
attitude in the near future where I would finally be starting my own business.

II. Method
In twelve weeks, I aim to save at least P5,000 from my allowance. I set myself some rules
in order for me to achieve my goal. These include:
1) Spending only P750 (at most) per week for food
2) Not riding the taxi when the driver is available
3) Avoiding unnecessary expenses
In recording my progress, I used Microsoft Excel and inputted my expenses per week. I
also placed the money I saved in a cash box and made sure the amount inside and my recorded
data were the same.



III. Results

WEEK 1
Allowance P2,000
Less: Food P800
Taxi P365
Gift for Friend P111
Total Expenses P1,276
Total Savings P724
WEEK 2
Allowance P2,000
Less: Food P671
Taxi P180
Gift for Friend P375
PE Shirt P350
Total Expenses P1,576
Total Savings P424
WEEK 3
Allowance P2,000
Less: Food P745
Taxi P445
Gift for Friend P10
Chorale P20
Total Expenses P1,220
Total Savings P780
WEEK 4
Allowance P2,000
Less: Food P1,287
Taxi P706
Total Expenses P1,993
Total Savings P7







WEEK 5
Allowance P2,000
Less: Food P1,114
Taxi P680
Total Expenses P1,794
Total Savings P206
WEEK 6
Allowance P2,000
Less: Food P1,033
Taxi P770
School Supplies P48
Printing P32
Hair Accessory P65
Total Expenses P1,948
Total Savings P52
WEEK 7
Allowance P2,000
Less: Food P750
Taxi P455
Cosmetics P390
Hair Accessory P26
Total Expenses P1,621
Total Savings P379
WEEK 8
Allowance P2,000
Less: Food P783
Taxi P355
Total Expenses P1,138
Total Savings P862








WEEK 9
Allowance P2,000
Less: Food P795
Taxi P105
PE Jogging Pants P550
Total Expenses P1,450
Total Savings P550
WEEK 10
Allowance P2,000
Less: Food P1,511
Taxi P195
Gift for Friend P215
Total Expenses P1,921
Total Savings P79
WEEK 11
Allowance P2,000
Less: Food P1,050
Taxi P140
Printing P300
Total Expenses P1,490
Total Savings P510
WEEK 12
Allowance P2,000
Less: Food P677
Taxi P355
Total Expenses P1,032
Total Savings P968


Summary:
Goal P5,000 100%
Allowance in 12 Weeks P24,000 100%
Expenses in 12 Weeks P18,459 77%
Savings in 12 Weeks P5,541 23% 110.82%




IV. Discussion of Results
Every week I am given P2,000. My expenses per day vary. This is because I sometimes
get free rides from our driver, and sometimes when hes not available, I am forced to ride cabs,
adding more to my expenditures. Also, there are times when I stay late in school (because of
organizations and whatnot) so I am forced to spend for dinner.
In the first week, I was able to save P724. I was able to do this because the idea of saving
money was new to me and I can say that I was very excited about it. However, notice that the
amount I spent for food was P800. Notice also that one of my strategies include spending only
P750 for food per week. Avoid unnecessary spending was also one of my strategies, but in the
first week, I bought a gift for a friend. There was no occasion and yet I bought her a gift. It was
just the first week but I couldnt get myself to follow my strategies. I still spent a lot.
Week 4 was my worst. I was only able to save P7. This was because in that week, our
driver wasnt available so I was forced to ride cabs, which greatly added to my expenses list.
Also, despite knowing I had more expenses for that week, I still did not follow any of my
strategies, which was to spend at most P750 for food. This bad habit continued on until week 11.
Fortunately, in week 12, I spent lesser for food compared to the past weeks so I was able to save
a lot. That was my best week. However, I think that I was also able to save that much amount
thanks to the suspended classes then.
In this project, I was both extrinsically and intrinsically motivated. According to
Ciccarelli and White, extrinsic motivation is the type of motivation in which a person performs
an action because it leads to an outcome that is separate from or external to the person while
intrinsic motivation refers to the type of motivation in which a person performs an action


because the act itself is rewarding or satisfying in some internal manner (p.344). I was
motivated by the possibility of getting a good grade if I did well in this mini research, the money
(of course) that I would have after having changed my attitude of spending lavishly, and lastly,
the praises I would get from my parents once they know that I am now able to handle my
allowance better. Intrinsically, I was motivated in a way that I wanted to discipline myself and
change my lavish and unnecessary spending behavior, and also, I wanted myself to realize the
significance of properly handling money.
Based on the results, I cannot say that I have totally changed how I handle my allowance.
Honestly, it was difficult for me to follow my so-called rules. I still spent lavishly, mostly for
food and other unnecessary things. Luckily, though, I was still able to reach my goal of saving at
least P5,000 in twelve weeks.

V. Reflection
In doing this project, I realized how much effort, dedication, and motivation one needs to
achieve his/her goal. Saving money is not as easy as I thought it would be. It required me to
restrain myself from doing or getting what I wanted, may it be watching a movie in the cinema,
go shopping for clothes, or eat gelato at my favorite gelato shop. I am more than thankful though
that I got to experience all this. It is because of this that I learned not only things as shallow as
handling my money better, but also things that would further improve me as a human being. I
learned how to discipline myself.
Being raised in a capable family for the past seventeen years, I got used to almost
always getting whatever it is that I wanted. I did not realize then how much my parents were
spending for both my needs and leisure. It was not easy for my parents to be in the position they


are currently. They had to work hard to achieve whatever they have at the moment. Lucky for
me, I was able to experience perhaps an easier version of what they had gone through at a young
age.
Its more than just saving money, actually. Its about learning how to control yourself.
Know whats necessary and whats not. It may seem difficult now and youd probably be on the
verge of giving up many times, but in the long run, itll all be worth it.

VI. References
Ciccarelli, S. K., & White, J. N. (2012). Psychology (3 ed.). Harlow: Pearson Education Limited