• P-ISSN 0974-6846 E-ISSN 0974-5645

Indian Journal of Science and Technology


Indian Journal of Science and Technology

Year: 2020, Volume: 13, Issue: 39, Pages: 4151-4160

Original Article

Money awareness among Kalinga children: An exploratory study

Received Date:30 March 2020, Accepted Date:16 October 2020, Published Date:07 November 2020


Objectives: The study aimed at ascertaining the awareness of money and determine whether the respondents can recognize currency coins and bills. It also seeks to identify the source of money education among children based on age and sex and identify the their buying preference with and without inducements. Finally to analyze the significant difference on the preference with and without inducements when grouped according to their profile variables. Methods/Statistical analysis : The respondents of the study are the 94 children enrolled at the Kalinga Special Education Center during the School Year 2018-2019 whose age ranges 6-7 years old. The study utilized the descriptive-comparative research design. In analyzing the data obtained statistical tools like frequency, percentage and t-test were used. The study utilized the descriptive-comparative research design. Findings: The study revealed that children recognize bills more accurately as compared to coins, and most of the children who are allowed to make purchase from the supermarket of their own choice pick nonfood item which signifies that they are unable to appreciate the value of money as also seen in their preference of the more expensive pencil over the cheaper one, provided that it is the same pencil shown in the initial experiment. Recommendation: It is recommended that educators, families and the communities teach young people the early recognition and institute a sense of obligation in money spending through Trainings on Financial Literacy and Capabilities.

Keywords: Money awareness; children; spending; price


  1. Inciong TG. The development of welfare and education for children with mental retardation towards inclusion: The Philippine experience. Hokkaido, Japan. Conference on the development of welfare and education of children with mental retardation in Asia towards inclusive education at the Seisa University. p. 9–10.
  2. Simwaka BN, Theobald S, Amekudzi YP, Tolhurst R. Meeting millennium development goals 3 and 5. 2005.
  3. Rhine SL, Toussaint-Comeau M. Delivery of financial literacy programs. Federal Reserve Bank of Chicago. 2000.
  4. Furnham A. Parental attitudes to pocket money/allowances for children. Journal of Economic Psychology. 2001;22(3):397–422.
  5. Jensen EP. A fresh look at brain-based education. Phi Delta Kappan. 2008;89(6):408–417.
  6. Akareem HS, Hossain SS. Determinants of education quality: what makes students’ perception different? Open Review of Educational Research. 2016;3(1):52–67. Available from: https://dx.doi.org/10.1080/23265507.2016.1155167
  7. Prevey EE. A quantitative study of family practices in training children in the use of money. Journal of Educational Psychology. 1945;36(7):411–428. Available from: https://dx.doi.org/10.1037/h0061065
  8. Sumi RS, Kabir G. Analytical hierarchy process for higher effectiveness of buyer decision process. Global Journal of Management and Business Research. 2010;10(2).
  9. Dickson PR, Sawyer AG. The price knowledge and search of supermarket shoppers. Journal of marketing. 1990;54(3):42–53.
  10. Winer RS. A Reference Price Model of Brand Choice for Frequently Purchased Products. Journal of Consumer Research. 1986;13(2). Available from: https://dx.doi.org/10.1086/209064
  11. Monroe KB. Measuring price thresholds by psychophysics and latitudes of acceptance. Journal of marketing research. 1971;8:460–464.
  12. Dawes TA. Libraries, ACRL, and financial literacy: Helping students make sound decisions. College & Research Libraries News. 1996;74(9):466–467.
  13. Dahari ZB, Kokash HA, Sulaiman F. Can Price Sway Children Preference? Preliminary Experiment among Malay Children. International Review of Management and Marketing. 2017;7(1):492–498.
  14. Danes SM. Parental perceptions of children’s financial socialization. Financial Counseling and Planning. 1994;5:127–149.
  15. Ward S, Wackman D. Consumer Socialization: initial study results. ACR North American Advances. 1974.
  16. McNeal JU, Ji MF. Chinese children as consumers: an analysis of their new product information sources. Journal of Consumer Marketing. 1999;16(4):345–365. Available from: https://dx.doi.org/10.1108/07363769910277166
  17. Chaplin LN, John DR. Growing up in a Material World: Age Differences in Materialism in Children and Adolescents. Journal of Consumer Research. 2007;34(4):480–493. Available from: https://dx.doi.org/10.1086/518546
  18. Arnold MJ, Reynolds KE. Hedonic shopping motivations. Journal of Retailing. 2003;79(2):77–95. Available from: https://dx.doi.org/10.1016/s0022-4359(03)00007-1
  19. Dahari ZB, Kokash HA, Sulaiman F. Can Price Sway Children Preference? Preliminary Experiment among Malay Children. International Review of Management and Marketing. 2017;7(1).
  20. Dahari ZB, Kokash HA, Sulaiman F. Can Price Sway Children Preference? Preliminary Experiment among Malay Children. International Review of Management and Marketing. 2017;7(1).


© 2020 Duyan & Labbutan.This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. Published By Indian Society for Education and Environment (iSee).


Subscribe now for latest articles and news.