Personal Financial Management and Entrepreneurial Competencies among Selected Public School Teachers in Cebu City Division

Abstract

Public school teachers are role models who mold students into better citizens, and teachers are regarded as the epitome of education and career success. Delivering financial education will be the pinnacle of absurdity if teachers do not practice personal financial management. This study investigated public school teachers' knowledge and practice of personal financial management and entrepreneurial competencies. The study employed the descriptive-correlational method, administered to 229 selected teachers in the Cebu City Division. The main instrument, which consists of three components, was adopted and modified. The data were collected, arranged, tabulated, and interpreted using a statistical technique like weighted mean and Pearson r Product Moment Correlation Coefficient. The study revealed that public school teachers were moderately knowledgeable and practiced personal financial management. Also, they moderately manifested all the entrepreneurial competencies identified in the study. Using the Pearson Correlation Coefficient, the level of knowledge and practice of personal financial management are significantly correlated. As a result, it was concluded that public school teachers need to enhance their knowledge and practice of personal financial management, especially knowledge and practice of investing, and the other areas of entrepreneurial competencies uncovered as weak. Subsequently, the principal researcher crafted a comprehensive action plan to help public school teachers enrich their knowledge and practice of personal financial management and entrepreneurial competencies, scaffolding their financial resilience and gently nudging them to entrepreneurial ventures.

Knowledge and Practice of Personal Finance of Non-Teaching Staff in a Private University in Cebu City

“…The researchers found that a lack of knowledge and an unrestricted revenue-generating crypto game led to high trust difficulties regarding privacy, security, design, and usability. Moreover, Polinar et al (2022) revealed in their study that selected public school teachers have poor knowledge and practice of investments implying that they are not motivated to put their money to work for them and grow rapidly over time. Table 5 summarizes the results of the Pearson correlation coefficient of the different variables of the study.…”

“…The results were supported by Docena's study (2020), which asserted that respondents' capacity to manage their financial resources might be enhanced by financial literacy. A study found a strong correlation between personal financial management knowledge and practice (Polinar et al, 2022). The study reveals that the more public school teachers learn about how to implement budgeting, saving enough money, spending wisely, setting aside enough for emergencies, managing debt effectively, getting both life and nonlife insurance, allocating money for investments, and setting up retirement accounts, the more they will put that knowledge into practice and, as a result, they will develop financial confidence in dealing with monetary uncertainties.…”