Financial Management Skills of Teachers and its Effects on their Socio-Economic Conditions

Abstract

The study assessed the financial management skills of teachers and their effects on their socio-economic conditions in the public secondary schools of Aringay District during the school year 2019-2020. The study used the descriptive comparative research design to ascertain the status of financial literacy of the respondents and to determine whether they comparatively differ on this aspect by the different factors. The questionnaire checklist was used involving one hundred (100) teachers and six (6) school administrators. The majority of the teachers are married females who belong to the age bracket of 36 to 40 years old, master's degree holders, served as teachers for 16 to 20 years, holding Teacher III position, and have 5-6 dependents in the family. The financial management skills of teachers were perceived as "very satisfactory." There was a "great effect" of the financial management skills of teachers on their socio-economic conditions. The strategies in enhancing the financial management skills of teachers were perceived as "highly effective." The problems encountered in enhancing the financial management skills of teachers were perceived as"moderately serious." There was no significant difference in the perceptions of the teachers and school administrators on the different variables under study.