Budget allocation of the family of formal and informal settlers in Island Garden City of Samal: a comparative study

Abstract

This study entitled "Budget allocation of the family of formal and informal settlers in Island Garden City of Samal: a comparative study" was conducted to determine the budget allocation of the family of formal and informal settlers, the differences and similarities of formal and informal setters in Island Garden City of Samal. Through this study the researchers were able to analyze, evaluate, organize and gather data accordingly. This study was realized with the cooperation of the one hundred seventy-nine (179) formal settlers and one hundred seventy-nine (179) informal settlers who were residents in Island Garden City of Samal and the respondents of this business research proposal. A descriptive method of research was employed in this study that was concerned with the description of data and characteristics about a particular population and more concerned with existing certain phenomena or a situation problem. The researchers made survey questionnaire that was checked and validated by the panel of examiner of this study. Based on the data gathered, the researchers found that, first; the formal and informal settlers spend more on basic goods and services particularly in food and education as the biggest in all expenditures. They seem to eat more and spend for the education of their children as food and education is greater than the other expenditures. The spending on housing, utilities, transportation, medical care and savings are low. Second, formal and informal settlers' income is enough to provide and allocate to their expenditures. Third, formal settlers' expenditures are bigger than informal settlers due to housing expenditure except on savings.