FINANCIAL PREDICAMENTS AMONG SINGLE-PARENTS IN NORTH CALOOCAN CITY: BASIS FOR FINANCIAL STRATEGIES

Abstract

Single parenthood presents unique financial challenges that require comprehensive understanding and targeted support. This study explores the financial difficulties faced by single parents in the Philippines and proposes practical solutions to enhance their well-being, while raising societal awareness of their distinct needs. This quantitative study employed cluster sampling to survey 50 single parents aged 18 to 45 residing in North Caloocan City. Data were collected using an expert-validated questionnaire that gathered demographic information and insights into financial challenges and coping strategies. Statistical analyses, including frequency counts, percentages, weighted means, t-tests, and ANOVA, were conducted to comprehensively assess the financial difficulties and coping mechanisms of single parents in this region. Single parents in North Caloocan City face significant financial challenges, including job instability, elevated living expenses, and limited opportunities for additional income. Their primary financial concerns encompass education, housing, and healthcare costs, while managing debt and securing childcare support remain critical issues. To cope, many rely on budgeting, savings, and government assistance programs. This study emphasizes the substantial financial difficulties that single parents in North Caloocan City confront, such as precarious job, little savings, and exorbitant housing, healthcare, and educational expenses. Budgeting and assistance from friends, family, and government services are key coping mechanisms for single parents. The results show that family size and work status have a big impact on their financial difficulties. Expanded access to support services, better financial literacy, and increased work possibilities are necessary to address these problems. The study emphasizes the necessity of focused financial strategies and suggests financial education programs, job creation projects, and expanded access to aid services. These actions are intended to increase the region's single parents' standard of living and financial