Generational Differences on the Financial Practices of Public Secondary School Teachers of Municipality of Manito
DOI:
https://doi.org/10.5281/zenodo.18730943Keywords:
Generational Difference, Financial PracticesAbstract
This study, “Generational Difference on Financial Practices of the Public Secondary School Teachers of the Municipality of Manito,” aimed to describe the profile of respondents in terms of birth year, sex, marital status, position title, and monthly take-home pay; determine the level of financial management practices along money management, budgeting habits, and spending habits; examine differences in financial management practices across respondent groups; identify factors affecting financial management practices; and formulate an action plan to address these factors. The study was anchored on Strauss and Howe’s Generational Theory and Henry A. Simon’s Bounded Rationality Theory. Data were collected from primary sources, including the responses of public school teachers of Manito, Albay, through structured research instruments, and secondary sources, such as books, journals, unpublished dissertations/theses, and online materials. Observations and the researcher’s personal experience as a public-school teacher were also utilized to describe the financial situation of respondents. Findings revealed that the current educational workforce is predominantly composed of millennials and women, most of whom live below the poverty line due to low salaries, typically under Php 10,000. Common issues included excessive loans and the inability to save, reflecting challenges in money management, budgeting, and spending practices. The government’s failure to address teachers’ call for salary increases exacerbates dissatisfaction among educational frontliners, highlighting the need for systemic interventions. Enhancing financial literacy is suggested as a potential solution to these financial challenges, which, if unaddressed, may negatively impact teachers’ well-being and compromise the quality of education. These findings underscore the importance of targeted strategies to improve financial management practices among teachers while supporting overall educational quality.
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