FINANCIAL MANAGEMENT PRACTICES, CAPABILITY AND FINANCIAL WELL-BEING OF PUBLIC HIGH SCHOO L TEACHERS

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 correlational kind of research was utilized in the study. A researcher-made questionnaire, validated by experts, was utilized in gathering data. The findings of the study were: Budgeting and debt management servicing are the only financial management practices performed by the respondents which denote to be remarkable. On the other hand, sampled public school teachers are poor in investing. With respect to financial well-being, only the availability of funds to meet financial obligation is quite impressive. 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. Financial well-being of one’s person does not greatly rely on his practices and financial capability. Individuals value different things income or net worth, while important, do not necessarily or fully capture financial well-being