Mildred R.

Moreno
EM 504

TEACHERS KNOWLEDGE IN FINANCIAL MANAGEMENT AND THEIR LEVEL

OF FINANCIAL STRESS IN BALITE PRIMARY SCHOOL

Introduction

Financial management is a crucial component of overall management. It's

involved with the efficient and effective exploitation and purchase of capital money, a

valuable economic resource.

Financial management is primarily focused with short-term working capital

management, with an emphasis on current assets and current obligations, as well as

managing foreign currency and product cycle variations, which is frequently

accomplished through hedging. The function also includes the efficient and effective

handling of finances on a day-to-day basis, and so overlaps with treasury

management. It's also involved in long-term strategic financial management, with a

focus on capital structure management, which includes capital raising, capital

budgeting (capital allocation between business units or products), and dividend

policy; the latter is more the domain of "corporate finance" in large corporations.

The financial well-being of each individual is one of the most pressing issues

of today. The poor are not the only ones who face financial difficulties. Employment

stagnation, inflation, income insecurity, and eroding purchasing power are all major

concerns for families, policymakers, and even educators. Financial stress is a

worldwide epidemic that is producing major financial health difficulties. Many people

are succumbing to the effects of financial stress. High debt levels, insecure income,

a lack of savings, large loans, and other factors are to blame.

 Furthermore, most people have financial difficulties at some point in their

lives.

Many people encounter financial difficulties on a regular basis in their life. Financial

stress has been linked to employee health and, in certain cases, absence, according

to research. Personal everyday life functions such as work and family are affected by

financial concerns. They induce stress and frequently lead to marriage breakdown.

Financial stress and troubles can cause a breakdown in the workplace, lower

morale, and lower productivity. As a result, financial stress has an impact not only on

an individual's personal and family life, but also on his or her professional life. Having

solid financial management abilities, on the other hand, decreases employee

absenteeism and helps to retain key staff (Champion, 2011). Financial knowledge,

according to Kim (2007), reduces workplace emotional stress and anxiety.

In conclusion, the researcher aims to find out how extent the knowledge of

teachers and their financial stress in Balite Primary School so that she can determine

what techniques and strategies she can propose to the teachers to help them deal

with it.

Statement of the Problem

This study conducted to find out the financial management practices of teachers in

Balite Primary School.

Specifically, it answers the following:

1. Determine the challenges encountered by Balite Primary School teachers in

handling financial matters.

2. Determine the extent of knowledge of Balite Primary School teachers about

the financial management practices in terms of:

1.1 Saving practice

1.2 Expenditure practice

3. Determine the level of financial stress experienced by the teachers in Balite

Primary School in handling financial matters.

4. Propose an action plan that enhance and develop the skills of teachers in

terms of handling their stress about financial matters and financial

management.