The researchers will discuss the study through the aid of several theories. The following theories listed below will help the researchers in determining the relationship of the budgeting skills and academic performance of the respondents.

• Theory of Personal Budgeting (Garpelti, 2016)

• Allocation of Resources Theory (Peteraf and Barney, 2003)

• Economic Theory (Lewis 1957)

• Institutional Theory (Covaleski et al 1996; Baxter and Chua, 2003)

• Discovery learning and constructivism (Bruner (1966), Jean Piaget (1960)

These theories will support the study in determining the relationship between budgeting skills and academic performance. In line with this, the theories namely; theory of Personal Budgeting, allocation of resources theory, theory of institutional theory, and discovery learning, and constructivism will be able to help the students regarding how to allocate their budget to achieve their financial goals.