Financial Management Practices, Capability And Financial well-being of Public High School Teachers
Keywords:Financial management practices,, Capability, Financial well-being, Personal finance, Public school teachers, Quantitative design, Quezon City.
The need for teachers to be financially capable and having a prominent
financial well-being are imperative at any cost. The overall intent of this study
is to assess the financial management practices, capability and financial wellbeing
among sampled public high school teachers in Quezon City during the
school year 2015 - 2016. The descriptive method of research through
quantitative and qualitative approach was utilized in the study. A total of 246
high school teachers from 3 selected public high schools in Quezon City served
as respondents of this study. A researcher-made questionnaire, validated by
experts, was utilized in gathering data. Frequency, percentage, weighted
mean and correlation were used in the treatment of data.
The findings of the study were: 1. Budgeting and debt management servicing
are the only financial management practices performed by the respondents
which denote to be remarkable. On the other hand, they are poor in investing.
2. Majority of the respondents are married and just earning the salary range of
Php 15,001 to Php 20, 000 equivalent to an entry level position or just the
salary grade of a Teacher 1. Correspondingly, they have 1-2 dependents. 3. In
terms of their length of service in the public, respondents are into 6-10 years of
teaching. 4. With respect to financial well-being, only the availability of funds
to meet financial obligation is quite impressive. The rest indicators need
enrichment or improvement so the respondents can attain financial
satisfaction. 5. When it comes to the relationship of financial well-being to
financial management practices only two variables show significant
relationships. These are the availability of funds to secure financial future and
spending; and the availability of funds to enjoy family or love ones and
spending practice. Meanwhile, for financial well-being and financial
capability, the study demonstrates relationship on availability of funds to meet
financial obligation and teaching position; availability of funds to secure
financial future and civil status; and availability of funds for educational
advancement and civil status
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