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Financial Management Practices, Capability and Financial Well-Being of Public High School Teachers

Year 2020, , 3397 - 3409, 29.12.2020
https://doi.org/10.15869/itobiad.808188

Abstract

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 well-being 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.

References

  • Abaquin, Mary Joy Canon. Go Negosyo: 8 Simple Secrets to Raising Entrepreneurs Teaching Kids about Money, Business and Life. Philippines: Philippine Center for Entrepreneurship, 2010.
  • Caabay, Gigi C. The Financial Capabilities of Selected School Heads of Puerto Princesa District II, 2012.
  • Collado, Thelma B. “Practices among the Diocesan Schools of San Jose de Nueva Ecija: Implications on Financial Management”, 2013.
  • Dela Cruz, Rita Cardon “The Impact of the Global Financial Crisis on the Financial Management Behavior of Selected Employees in Metro Manila, 2011.
  • DEFRA ‘Common understanding’ in Measuring Progress/Sustainability Indicators, 2010.
  • DİLEK, S. KESGİNGÖZ, H, KONAK, A, HALICIOĞLU, S. (2018). Factors Affecting Economic Literacy. Afro Eurasian Studies, 7 (1), 11-51. Retrieved from http://dergipark.gov.tr/afes/issue/39788/475575
  • Entrepreneur Philippines, Summit Publishing Co. Inc. Mandaluyong City, Philippines, 2013.
  • Financial Education in Schools: challenges, case studies and policy guidance (OECD Publication, 2012)
  • Hernandez, Dorothy “Financial Management Practices of Secondary Public School Principals of the Selected Schools Division in Metro Manila: Basis for Enhancement Program”, Center for Research and Development. Quezon City, 2009.
  • Kiyosaki, Robert (2010). “Rich dad, Poor Dad”, Cash Flow Quadrant, and How to Get Rich without Winning the lottery. Metro Manila: National Bookstore.
  • Laroya, LMM. OMG! Where Did Your Sweldo Go?: 9 Secrets Sweldo Tips to be a 20 – Something Millionaire. Lianne Martha Maiquez Laroya. Metro Manila, Philippines: National Bookstore, 2014.
  • Motsamai et al., Policy and Practice: Financial Management in Schools in The Mafeteng District of Lesotho. University of Free State, South Africa. 2011.
  • Tan, Chinkee.. Till Debt Do Us Part: Practical steps to financial freedom. Church Strengthening Ministry, Inc. Paranaque City, Philippines: National Bookstore, 2012.
  • Tan, Chinkee. For Richer & For Poorer: Why the Rich Get Richer and the Poor Get Poorer. Church Strengthening Ministry, Inc. Paranaque City, Philippines. 2012.

Financial Management Practices, Capability and Financial Well-Being of Public High School Teachers

Year 2020, , 3397 - 3409, 29.12.2020
https://doi.org/10.15869/itobiad.808188

Abstract

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 well-being 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.

References

  • Abaquin, Mary Joy Canon. Go Negosyo: 8 Simple Secrets to Raising Entrepreneurs Teaching Kids about Money, Business and Life. Philippines: Philippine Center for Entrepreneurship, 2010.
  • Caabay, Gigi C. The Financial Capabilities of Selected School Heads of Puerto Princesa District II, 2012.
  • Collado, Thelma B. “Practices among the Diocesan Schools of San Jose de Nueva Ecija: Implications on Financial Management”, 2013.
  • Dela Cruz, Rita Cardon “The Impact of the Global Financial Crisis on the Financial Management Behavior of Selected Employees in Metro Manila, 2011.
  • DEFRA ‘Common understanding’ in Measuring Progress/Sustainability Indicators, 2010.
  • DİLEK, S. KESGİNGÖZ, H, KONAK, A, HALICIOĞLU, S. (2018). Factors Affecting Economic Literacy. Afro Eurasian Studies, 7 (1), 11-51. Retrieved from http://dergipark.gov.tr/afes/issue/39788/475575
  • Entrepreneur Philippines, Summit Publishing Co. Inc. Mandaluyong City, Philippines, 2013.
  • Financial Education in Schools: challenges, case studies and policy guidance (OECD Publication, 2012)
  • Hernandez, Dorothy “Financial Management Practices of Secondary Public School Principals of the Selected Schools Division in Metro Manila: Basis for Enhancement Program”, Center for Research and Development. Quezon City, 2009.
  • Kiyosaki, Robert (2010). “Rich dad, Poor Dad”, Cash Flow Quadrant, and How to Get Rich without Winning the lottery. Metro Manila: National Bookstore.
  • Laroya, LMM. OMG! Where Did Your Sweldo Go?: 9 Secrets Sweldo Tips to be a 20 – Something Millionaire. Lianne Martha Maiquez Laroya. Metro Manila, Philippines: National Bookstore, 2014.
  • Motsamai et al., Policy and Practice: Financial Management in Schools in The Mafeteng District of Lesotho. University of Free State, South Africa. 2011.
  • Tan, Chinkee.. Till Debt Do Us Part: Practical steps to financial freedom. Church Strengthening Ministry, Inc. Paranaque City, Philippines: National Bookstore, 2012.
  • Tan, Chinkee. For Richer & For Poorer: Why the Rich Get Richer and the Poor Get Poorer. Church Strengthening Ministry, Inc. Paranaque City, Philippines. 2012.
There are 14 citations in total.

Details

Primary Language Turkish
Subjects Economics
Journal Section Articles
Authors

Jerico Ecija 0000-0002-1650-6079

Publication Date December 29, 2020
Published in Issue Year 2020

Cite

APA Ecija, J. (2020). Financial Management Practices, Capability and Financial Well-Being of Public High School Teachers. İnsan Ve Toplum Bilimleri Araştırmaları Dergisi, 9(5), 3397-3409. https://doi.org/10.15869/itobiad.808188
İnsan ve Toplum Bilimleri Araştırmaları Dergisi  Creative Commons Atıf-GayriTicari 4.0 Uluslararası Lisansı (CC BY NC) ile lisanslanmıştır.