Action Research Title FINANCIAL MANAGEMENT PRACTICES OF TEACHERS

AND THEIR LEVEL OF FINANCIAL STRESS IN CABALES- ENARBIA SRS.

INTEGRATED SCHOOL

Research Proponents RONNEL A. COLASTRE

IAN CAESAR E. FRONDOZA
EVANGELINE B. AGUINALDO
Positions TEACHER I / TEACHER II/ MASTER TEACHER II
Division SARANGANI District EAST KIAMBA
School CABALES- ENARBIA SRS. INTEGRATEDSCHOOL
Research Category POSTER PRESENTATION
Research Theme/ Strand HUMAN RESOURCE DEVELOPMENT

Abstract

The purpose of this action research study was to determine if there is a

significant relationship between the extent of financial management practices

and the level of financial stress among the 50 teachers who were currently

employed in Cabales- Enarbia Srs. Integrated School. This study utilized the

descriptive correlational type of research design using the adopted tools from

the work of Gonzales, 2014 to determine the extent of financial management

practices when it comes to their saving, expenditure and debt management

practices, and the level of stress of the teachers in the said school. The result

of this study shows that the extent of financial management practices of

teachers were satisfactory given the mean of 2.701. On the other hand,

teachers were less stressed given the mean of 2.13 when it comes to their

level of financial stress. Therefore, there is a significant relationship between

the extent of Financial Management Practices and level of Financial Stress

among teachers in Cabales-Enarbia Srs. Integrated School given by 𝑟=

−0.681, 𝑝 < 0.05.

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 ACKNOWLEDGEMENT

The researchers would like to thank our Almighty God for all the countless

gifts you have offered upon them, and also to their family for the unconditional love

and support.

The researchers would like also to extend acknowledgement to their school

head Madam Letecia S. Flauta, Officer- In-Charge for her leadership and guidance

to make this research a successful one.

The researcher would like to take this opportunity to thank all the faculty and

staff of Cabales- EnarbiaSrs. Integrated School for their help and encouragement,

motivation and enthusiasm before, during, and after the conduct of the study.

The Researchers

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CONTEXT AND RATIONALE

Financial management is an integral part of overall management. It is

concerned with the efficient and effective utilization and procurement of an important

economic resource which is the capital funds.

One of the main issues of today is the financial wellness of every individual.

Financial problem is not just a concern of the poor. The turn down of employment

opportunities, inflation rate, income instability and eroded purchasing power are

important issues facing families, policy makers and even educators. Financial stress

is a pandemic, causing serious financial health problems among people worldwide.

Many individuals are becoming victims on the hands of financial stress. The reasons

are high debt levels, unstable income, little savings, huge loans, and so on.

Moreover, most people experience financial difficulty at some point in their

lives, and many have financial troubles on a consistent basis. Research shows that

financial stress is associated with employees’ health and sometimes absenteeism.

Financial problems have implications on personal daily life functions, such as work

and family. They cause stress and often precipitate towards marital crisis. Having

financial stress and problems may lead to break in workplace low morale and may

reduce productivity. Therefore, financial stress affect not only in individual’s personal

and family life, but also the person’s work life. However, having good financial

management skills reduces absences in the organization and keeps valuable

employees (Champion, 2011). Kim, 2007 added that high financial literacy

decreases emotional stress and anxiety in the workplace.

In the field of education Bayocot (2014) says financial stress sometimes form

part of the teacher’s failure in doing their best in the teaching arena. In some

instances, teachers struggle to get out of their own to perform better on their job and

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achieve the desired goal, but there are times when teacher’s job performance can be

affected by quite a lot of conflict in their profession and financial difficulties. Stress

goes beyond their wallets and bank accounts and, in turn, has the potential to affect

teachers’ performance in the classroom (Trombitas, 2012). The financial problem of

employees causes untold hardship monetarily, emotionally and physically. Mitchell

(2011) found that many employees were suffering from stress as a result of financial

problems. They observed that money problems include spending decisions, poor

money management and inadequate money to make ends meet.

Thus, the researchers aimed to determine the level of financial management

practices and their level of financial stress of their co- teachers in Cabales- Enarbia

Srs. Integrated School and the hoped to guide them lessen their financial stress

based on the result of their financial management practices.

Innovation, Intervention, and Strategy

The researchers will innovate a financial management program based on the

result of the study to help the teachers in Cabales- EnarbiaSrs. Integrated School

improved their financial management practices when comes to saving practices,

expenditure practices and debt practices. This will also help the respondents of the

study lessen the level of their stress when it comes to financial management and

improve their work productivity.

Action Research Questions

This study was conducted to find out the financial management practices and

the level of stress of teachers in Cabales- EnarbiaSrs. Integrated School.

Specifically, it sought answering the following questions:

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 1. To what extent do teachers of Cabales- EnarbiaSrs. Integrated School
observed the following financial management practices;
1.1 . Saving Practices;
1.2 Expenditure Practices, and;
1.3 Debt Management Practices?

2 What is the level of financial stress experienced by the teachers in Cabales-

Enarbia Srs. Integrated School meet while handling financial matters?

3 Is there a significant relationship between the extent of financial management

practices of teachers and their level of financial stress?

Action Research Methods

Participants

The respondents of this study were the 50 currently employed teaching staff

in Cabales- EnarbiaSrs. Integrated School. There were 24 elementary teachers, 23

junior high school teachers and 3 senior high school teachers.

Data Gathering

This study utilized the descriptive correlational type of research design using

the adopted tools to determine the financial management practices and the level of

stress of the teachers in Cabales- Enarbia Srs. Integrated School.

The respondents were given the questionnaires adopted from the work of

Gonzales, 2014 for financial management practices and for the level of stress. Mean

was used to determine the extent of financial management practices and level of

stress of the teachers in the said school. After which, the researcher used Pearson r

to test results if there is a significant relationship between the independent and

dependent variables. Moreover, to determine the statistical analysis of the data the

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researchers used Social Package for Social Sciences (SPSS) Version 20 and

Microsoft Excel.

The following intervals were used in determining description and interpretation

of the financial management practices of teachers in Cabales- Enarbia Srs.

Integrated School in their mean result.

Intervals and description

1.0- 1.80 – Needs Improvement 3.41- 4.20- Very Satisfactory

1.81- 2.60- Poor 4.21- 5.0- Outstanding

2.61- 3.40- Satisfactory

In determining the level of stress among the teachers in the said school the following

description and interpretation were used based on the computed mean.

Intervals and description:

1.0- 1.80 – Not at all stressed 3.41- 4.20- Much stressed

1.81- 2.60- Less stressed 4.21- 5.0- Very much stressed

2.61- 3.40- Moderately stressed

The pearson r test was used to determine the statistically significant

relationship between independent and dependent variables.

Discussions of Results and Reflection

1. To what extent do teachers of Cabales- EnarbiaSrs. Integrated School

observed the following financial management practices;

Table 1.1 Financial Management Practices of Teachers in Cabales-

Enarbia SRS. Integrated School

Financial Management Practices Mean Description

Saving Practices 2.564 Poor

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 Expenditure Practices 2.916 Satisfactory
Debt Management Practices 2.624 Satisfactory
Total Mean 2.701 Satisfactory

The table above shows the mean financial management practices of

Cabales-Enarbia SRS. Integrated School teachers. It has been found out that
the teachers have Satisfactory Debt Management Practices (𝑥̅ = 2.624) and
Expenditure Practices (𝑥̅ = 2.916). Teachers in Cabales- Enarbia Srs.
Integrated School have Poor Saving Practices (𝑥̅ = 2.564) according to the
data gathered. Overall, with a mean of 𝑥̅ = 2.701, teachers in the said school
have Satisfactory Financial Management Practices. This implies that
teachers, generally, are having average problems in managing their money in
terms of their savings, expenses and debts.

2. What is the level of financial stress experienced by the teachers in Cabales-

Enarbia Srs. Integrated School meet while handling financial matters?

Table 2.1 Level of Financial Stress among Teachers in Cabales-Enarbia

SRS. Integrated School

Financial Stress Weighted Mean Description

I borrowed money to buy 2.62 Moderately Stressed
necessities.
I did not able to meet insurance 2.34 Less Stressed
payment or the debt.
I have no cash for emergencies. 2.46 Less Stressed
I spent more than what is affordable. 2.54 Less Stressed

I have no enough money to 1.86 Less Stressed

purchase food.
I am not able to give attention to 1.94 Less Stressed
work due to financial problems.
I am not aware on the amount of my 1.88 Less Stressed
debts.
I received penalties for the delay of 1.76 Not Stressed At All
payments in my outstanding bills.
Purchased items were returned due 1.52 Not Stressed At All
to the inability to pay.

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 I did not discuss financial issues with 2.42 Less Stressed
my family members.
Mean 2.13 Less Stressed

Table 2.1 shows the level of financial stress among the teachers of
Cabales-Enarbia SRS. Integrated School. From the results of the weighted
mean computation, teachers are only moderately stressed when they
borrowed money to buy necessities (𝑥̅𝑤 = 2.62). Overall, Cabales- Enarbia
SRS. Integrated School teachers have low levels of financial stress given a
mean of 𝑥̅ = 2.13. This means that teachers in the said school are less
affected with financial stressors enumerated in the table above.

3. Is there a significant relationship between financial management practices of

teachers and their level of financial stress?

Table 3.1 Significant Relationship between Financial Management

Practices and Level of Financial Stress

Pearson Product-Moment
Variables Correlation Coefficient (r) p-value Interpretation
Financial
Management High negative
Practices r = -0.681 0.015 association,
and significant
Level of
Financial Stress

Computing the significant relationship between the extent of Financial

Management Practices and the Level of Financial Stress led to a significantly
high negative correlation (𝑟 = −0.681, 𝑝 < 0.05). This implies that any
significant increase in the level of financial management would contribute to a
significant decrease in the level of Financial Stress of teachers in Cabales-
Enarbia SRS. Integrated School, and vice versa.

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CONCLUSIONS

Based on the findings, the following conclusions are formulated:

1. With a mean of 𝑥̅ = 2.701, Cabales- Enarbia Srs. Integrated School teachers

have Satisfactory Financial Management Practices.

2. Overall, Cabales- Enarbia Srs. Integrated School teachers are financially less

stressed given a mean of𝑥̅ = 2.13.

3. There is a significant relationship between the level of Financial Management

and level of Financial Stress among teachers in Cabales-Enarbia Srs.

Integrated School given by 𝑟 = −0.681, 𝑝 = 0.015.

RECOMMENDATIONS

Based on the conclusions, the following were recommended:

1. Conduct seminars and training of financial management to further increase

the level of financial management of Cabales- Enarbia Srs. Integrated School

teachers especially in terms of Saving Practices.

2. Teachers should learn how to save or invest for their future and emergency

needs and to avoid borrowing money to others.

3. Teachers may seek the advice of financially literate people on how they can

manage their financial wisely.

4. Furthermore, follow up research study about the level of financial and the

teaching efficacy of teachers is highly recommended.

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 Action Plan

I. Program Description

This intervention is known as sucCESIS Financial Management

Program.

II. Rationale

sucCESIS Financial Management Program is designed in response to

the result of this action research study. It respectfully seeks to address the

needs of the respondents to have outstanding financial management

practices and eradicate financial stress.

III. Objectives

sucCESIS Financial Management Programhas the following

objectives. It is an avenue to;

1. Improve financial management practices of teachers in Cabales-

Enarbia Srs. Integrated School especially in saving practices, and;

2. Lessen or eradicate financial stress of teachers that may affect their

teaching performance.

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 IV. Program Plan

Below is the matrix to carry out its plan of activities

Financial Objectiv Strategies Responsi Time Resour Source Success

Management es ble Frame ces of Indicator
Practices Person Needs Fund
Indicators

Saving Improve Have

practices saving Attend or Person savings
practices conduct TEACHE October, al on bank
by having seminars RS, 2018- Resourc for future
savings and trainings FINANCIA Decemb e Sponso needs
in the with regards L er, 2020 speaker rship and for
bank or to financial ITERATE emergen
others. management PERSON cies.

Read Books
journals and and
books about journals
how to save
money..

To track Provide
Expenditure all budgetary TEACHE October, Column Person Budgetar
Practices expenses plan for the RS 2018- ar book al y plan
and set whole Decemb within a
priorities month. er, 2020 month.
based on
their
needs.

To pay Record all

Debt on time your financial October, Column Person Receipt
Management and avoid accountabiliti 2018- ar book al of
Practices penalties. es. Decemb Resourc financial
er, 2020 e accounta
Attend speaker bilities.
To invest trainings/ TEACHE
borrowed seminars RS, Sponso
money to with regards rships Micro
any form to BUSINES business
of entrepreneur SMAN
business. ship.

Buy stocks in
Increase business
assets company
and
lessen Avoid huge
the loans with
liabilities. high interest.

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References

Bayocot, A.B., Ph.D. CESO V (2014). The 30th Asean Council of teachers
Convention 22-24 august 2014 Orchard Cotel Singapore 422 Orchard Road,
Singapore 238879

Champion, R. (2010). Totally integrated employee benefits. Public Personnel

management, 30(3), 287

Gonzales, GA. (2014). Financial Management Practices and their level of financial
stress.

Kim, J. (2007). Workplace Financial Education Program: Does it have an impact on

Employees’ Personal Finance?. Journal of Family and Consumer Science,
99(1),43

Mitchell, O. (2011) Managing risks in defined contribution plans: what does the
future hold? In Fuchita, Yasuyuki,HerringRichard, J. Richard,
J. and LitanRobert, E. Robert, E. (eds), Growing Old: Paying for Retirement
and Institutional Money Management After the Financial Crisis. Brookings
Institution Press and Nomura Institute of Capital Markets
Research. Forthcoming.

Trombitas, K. (2012). Inceptia Snapshot of Financial Education Programming: How

Schools Approach Students.

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 Appendix A

SURVEY QUESTIONNAIRE FOR TEACHERS

Name (optional): _______________________________________________

Financial Management Practices

(Adopted from the work of Gonzales (2014))

In order to determine certain practices towards personal financial aspects in savings,

expenditure and debt management practices, as respondents, you are humbly
requested to evaluate your financial practices on a scale of 1- 5. Use the legend
given to identify the extent of your practices of each indicator listed below. Check the
box of the number that best fit your honest evaluation.

Numerical Rating Extent of Practice

5 Always
4 often
3 Sometimes
2 Seldom
1 Never

SAVING PRACTICES 5 4 3 2 1
I save/ invest out of the salary I
received.
I save at least 10 percent of my
gross monthly income.
I set aside among for the future
needs/ wants.
I increase my savings when I
received a salary increase.
I am the kind of person who
always track for ways to save
money.

EXPENDITURE PRACTICES 5 4 3 2 1
I track some or all my
expenses.
I compare prices for major
expenses.
I use a spending plan or budget.
I often spend more than I can
afford.
I closely watch the amount I
spend.

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 DEBT MANAGEMENT 5 4 3 2 1
PRACTICES
I pay my bills on time.
I repay the money I owe on
time.
I keep track of the bills I need to
pay according to schedule.
I record the payment I give for
the bills I obliged to pay.
I request for reconsideration for
bills left unpaid on schedule.

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 Appendix B

SURVEY QUESTIONNAIRE FOR TEACHERS

Name (optional): _______________________________________________

Financial Stress
(Adopted from the work of Gonzales (2014) with modifications)

In order to determine the level of financial stress, as respondents, you are humbly
requested to evaluate your level of financial stress on a scale of 1- 5. Use the legend
given to identify the extent of your stress below. Check the box of the number that
best fit your honest evaluation.

Numerical Rating Extent of Practice

5 Always
4 often
3 Sometimes
2 Seldom
1 Never

Financial Stress 5 4 3 2 1
I borrowed money to buy necessities.
I did not able to meet insurance payment
or the debt.
I have no cash for emergencies.
I spent more than what is affordable.
I have no enough money to purchase
food.
I am not able to give attention to work due
to financial problems.
I am not aware on the amount of my
debts.
I received penalties for the delay of
payments in my outstanding bills.
Purchased items were returned due to the
inability to pay.
I did not discuss financial issues with my
family members.

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