Financial Practices and Work Performance Edited May 4

FINANCIAL PRACTICES AND WORK PERFORMANCE
OF SCHOOL PERSONNEL
A Thesis
Presented to
The Graduate School
CEBU TECHNOLOGICAL UNIVERSITY
Main Campus, R. Palma St., Cebu City
In Partial Fulfillment of the
Requirements for the Degree of
MASTER IN PUBLIC ADMINISTRATION
JACKIE LOU B. CLARIN

March 2016
ii
APPROVAL SHEET
This Thesis entitled, “FINANCIAL PRACTICES AND WORK PERFORMANCE OF

SCHOOL PERSONNEL”, prepared and submitted by Jackie Lou B. Clarin, in partial fulfillment
of the requirements for the degree of MASTER IN PUBLIC ADMINISTRATION (MPA) has been
examined and is recommended for acceptance and approval for Oral Examination.
THESIS ADVISORY COMMITTEE
ROSEIN A. ANCHETA, DM, Ph.D.

Chairman
NORMITA A. MEJALA, CPA, DPA WILMA C. GIANGO, Ph. D.

Adviser Member
ADORA A. VILLAGANAS, Ph.D. REBECCA DC. MANALASTAS, Ph.D.

Member Member
RACHEL LUZ V. RICA, Ph.D. ADORACION A. LAWAS, Ed.D.

Member Member
PERLA N. TENERIFE, Ed. D.

Censor
_____________________________________________________________________________
PANEL OF EXAMINERS
APPROVED by the Committee on ORAL EXAMINATION with a grade of Passed.
ROSEIN A. ANCHETA, DM, Ph.D.

Chairman
NORMITA A. MEJALA, CPA, DPA WILMA C. GIANGO, Ph.D.

Adviser Member
ADORA A. VILLAGANAS, Ph.D. REBECCA DC. MANALASTAS, Ph.D.

Member Member
RACHEL LUZ V. RICA, Ph.D. ADORACION A. LAWAS, Ed.D.

Member Member
PERLA N. TENERIFE, Ed.D.

Censor
Accepted and Approved in partial fulfillment of the requirements for the degree of
MASTER IN PUBLIC ADMINISTRATION.
Comprehensive Examination : PASSED

Oral Examination : February 1, 2016
REBECCA DC. MANALASTAS, Ph.D.

Dean, Graduate School
iii
FINANCIAL PRACTICES AND WORK PERFORMANCE

OF SCHOOL PERSONNEL
Jackie Lou B. Clarin

jclarin_jave@yahoo.com
Cebu Technological University – Main Campus
Normita A. Mejala, CPA, DPA

namejala@yahoo.com
Cebu Technological University – Main Campus
Keywords: Public Administration, Financial Practices, Descriptive Method,

Cebu City, Philippines
Abtract
The study assessed the financial practices and work performance of the
school personnel of Busay National High School for the calendar year 2015.
There are 35 respondents who were involved in the study. The researcher –
made questionnaires and the Financial Fitness Quiz were used in the survey to
collect data. Simple percentage and chi - square were utilized to analyze the
profile, sources of income, spendings, financial net worth, financial practices,
other monetary issues, and concerns as well as the association of the financial
practices between the identified profile, and work performance of the teachers.
The findings found out 57 percent of the school personnel have poor financial
practices such as lack of financial planning, in excessive debts, and no saving
habits. It also revealed that the financial practices of the teachers have no
association with age, marital status, length of service, monthly net income from
profession, family size and financial net worth, whereby gender and position have
an association with financial practices. The current study cannot determine the
relationship between the financial practices and work performance. But it is
undeniable that they can be distracted by their financial challenges because
many teachers admitted that they have spent some time at work dealing with
monetary issues. Finally, the recommendations are included to increase their
financial literacy, reduce debts, and eventually improve their financial practices.
Program : Master in Public Administration

Research Started : November 2014
Research Completed : March 2016
iv
ACKNOWLEDGEMENT
I would like to express my sincerest gratitude and deepest appreciation for
the following persons who made this thesis possible;
Dr. Rosein A. Ancheta, SUC President and Chairman of the Thesis
Committee, for his consideration and approval of this research;
Dr. Normita N. Mejala, the researcher’s adviser, for her motivation,
patience and advice. Her comments, constructive criticisms, wisdom and
constant guidance had been very beneficial to enrich my ideas for the realization
of this study;
Dr. Rachel Luz V. Rica, the researcher’s statistician, for her suggestions,
statistical expertise and interpretation of the results presented in this study;
Dr. Perla N. Tenerife, the researcher’s censor, for her patience to edit my
work;
Dr. Rebecca DC. Manalastas, Dr. Wilma C. Giango, Dr. Adora A.
Villaganas and Dr. Adoracion A. Lawas, members of the Thesis Advisory
Committee, for their encouragement, additional inputs, valuable discussions and
sharing their ideas and life’s experiences which helped to produce the best
output of this thesis;
Dr. Rhea Mar A. Angtud, Cebu City Schools Division Superintendent, for
giving me the consent to conduct this research;
Teachers and School Heads, for the time and patience in answering the
researcher’s questionnaires;
v
My family, my source of strength and inspiration, words cannot express
how much I am so blessed and grateful for your unwavering support and love.
Despite my imperfections and during my challenging days, I still managed to
smile and count my blessings because I always find a HOME in your hearts;
My colleagues and friends, for the encouragement and assistance
extended to me;
I cannot mention all the names here but I am sincerely grateful for those
who have directly and indirectly helped me.
And above all, thank you dear GOD, my greatest mentor, for always being
there, for surrounding me with Your wonderful creations and for giving me the
best days of my life.

vi
DEDICATION
GOD ALMIGHTY
for giving me the most precious gifts
my late GRAND PARENTS

your words of wisdom are always in our hearts
my PARENTS
my first and best teachers
for their unconditional love
my BROTHER, SISTER, AUNTS, UNCLES, COUSINS

for their endless support
VINCENT
my husband, mentor and answered prayer
for the encouragement
and
for radiating to everyone
the virtues of humility, patience, wisdom
and strong faith in God
for the constant reminder that
life is always beautiful
and
everyday is always a blessing…
Thank you all

for loving me just the way I am …
To them, this thesis, is humbly dedicated…

vii
TABLE OF CONTENTS
Page
TITLE PAGE…………….………….…………………………………………….. i
APPROVAL SHEET ….…….………..………………………………………….. ii
ABSTRACT…..……..….…...………........….…………………………………… iii
ACKNOWLEDGEMENT….……….……….…………………….….........…….. iv
DEDICATION….…………………………………………….…………........…… vi
TABLE OF CONTENTS ..………………………………………………...…….. vii
LIST OF TABLES…………………………………………..…………………….. ix
LIST OF FIGURES………………………………………..……………………... xi
CHAPTER 1: THE PROBLEM AND ITS SCOPE……………..…….….…… 1
INTRODUCTION………………………………………………………………. 1
Rationale of the Study….……….…………………….………....………… 1
Theoretical Background…………………….………………....……..……. 3
THE PROBLEM…..…………….…………………..………………...……….. 11
Statement of the Problem……………………..….………………..……… 11
Null Hypotheses………………..……………………………………..……. 12
Significance of the Study Study…..……...…………………………..…… 12
RESEARCH METHODOLOGY………......…………….……………………. 14
Flow of the Study……………………….…………..……….………..……. 14
Environment…………………………….…………..……………….……… 16
Respondents…………………………….………………………………….. 19
Instruments……………………………….…………….…..…………..…… 21
Data Gathering Procedures…………...…………………………..…… 22
Scoring Procedures……………….….………………………………… 22
Statistical Treatment of the Data……….…………….…………………… 24
DEFINITION OF TERMS……………………………………….…………….. 24
CHAPTER 2 PRESENTATION, DATA ANALYSIS AND
INTERPRETATION…………………………………..………....……..…… 28
Profile of the Respondents……………………………………..………..… 29
Monthly Net Income from Profession……….………………….………… 33
Spouse Monthly Net Income from Profession…………………..……….. 34
Sidelines / Business Income……………………………………….……… 35
Other Income (savings, amount received from working children)…..…. 36
viii
Page
Fixed Expenses…………………………………..…............................. 37
Variable Expenses…………............................................................... 39
Periodic / Occasional Expenses……………………….…...….……… 41
Financial Net Worth……………………………….…….….…....……… 43
Financial Practices……..…………………………….….…….….….....…. 45
Association Between Financial Practices and Identified Profile and
Work Performance………………………….………..…….………...….. 50
Other Issues and Concerns of the Respondents' Financial
56
Practices…………………………………….………………...……….…..
ACTION PLAN…………………………..………..……….…….………….… 64
CHAPTER 3 SUMMARY, FINDINGS, CONCLUSIONS, AND

RECOMMENDATIONS…………….…..…………….……..……..………. 69
SUMMARY…………………...…….……...…………….…..…….……….... 69
FINDINGS…………………...…….…….…..……………..….…….…….…. 70
CONCLUSIONS………………….…………..…………………….…….…. 75
RECOMMENDATIONS………………...……..……….……………..….…. 76
BIBLIOGRAPHY……………………………………..………………………….. 77
APPENDICES………………..……………………………………………….…. 83
A. Transmittal Letter…..……………………………………………….….. 84
B. Questionnaires……..………………………………………………….. 85
C. TPES…..…………………………………………………………….….. 96
D. PASSA……..………………………………………………………..….. 103
CURRICULUM VITAE…………………………………………………………. 106

ix
LIST OF TABLES
Table
Page
No.
1 Rainbow Spectrum for Pupil - to - Teacher Ratio (PTR)............... 19
2 Distribution of Respondents…………….………………………….. 20
3 Profile of the Respondents……………………………….………… 30
4 Monthly Net Income from Profession…………………….……..… 33
5 Spouse Monthly Net Income from Profession…………….……… 34
6 Sidelines / Business Income…………………..……..………..…… 35
7 Other Income (savings, amount received from working children) 36
8 Fixed Expenses……………….....................................…………… 38
9 Variable Expenses……………..............................…...…………… 40
10 Periodic / Occasional Expenses……….……….…...……………… 42
11 Financial Net Worth………………………………..………………… 44
12 Frequencies and Percent Scores of the Financial Fitness Quiz… 46
13 Summary of Table of Financial Practices……………………..…… 49
14 Association Between Financial Practices and

Identified Profile and Work Performance………..………….……… 50
15 Reasons for Borrowing Money……………………………………… 56
16 Financial Situation Today……………………………………………. 57
17 Financial Situation in the Next Three (3) – Five (5) Years……….. 58
18 Biggest Financial Family Concerns…………...…………….……… 59
19 Priorities in the Next Two Years…………..………………………… 60

x
Table
Page
No.
20 Preparations for Anticipated Life Events………………………….. 61
21 Personal and Family Challenges Spent Some Time at Work….... 62
22 Financial Education Workshops They Want to Participate……… 63

xi
LIST OF FIGURES
Figure
Page
No.
1 Theoretical Conceptual Framework of the Study………………… 4
2 Schematic Diagram of the Research Flow of the Study………… 15
3 Location Map of the Research Environment……………...……… 17

Chapter 1
THE PROBLEM AND ITS SCOPE
INTRODUCTION
Rationale of the Study
Money is very essential in one's life. It is difficult for an individual to live
without money. It is needed in various transactions such as buying food, paying
tuition fees, dream vacation, retirement and other unexpected and unanticipated
emergencies that may come along the way.
Teachers play a great factor to our society, without their help, we will not
become who we are today. But oftentimes we heard that teachers are having
hard times when it comes to money management. It becomes an ordinary joke
and for some a real life scenario that teacher’s “take home pay, cannot take them
home.”
The sad plight of beloved teachers was once described in the Human
Rights website (Human Rights, 2014);
“Teachers are one of those most valued customers of lending

establishments and even from loan sharks because they are good payers.
Teachers would try to look for ways to borrow money beyond the minimum
take home pay policy just to cover for their expenses. They would even
pawn their ATMs as guarantee payments with foreseen bonuses, just to
acquire cash. Teachers are dependent on a borrowed money.”
As stated by Dr. Carmelita Dulangon (2013), former DEPED OIC Region
VII Director, despite the fact that public school teachers had better salaries and
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benefits compared to the other school teachers, they keep on going to battle with
their accounts. She also included that public school teachers should further
evaluate how to properly deal with their finances. Spendings must be simply
right within a person’s financial limitations or capacity.
If they continue to live in their “LONDON” (loan doon, loan dito)
environment or in deep debts, they might be out of focus with their main purpose
which is to TEACH. A survey regarding workplace financial education revealed
that mismanagement of personal finances leads to “financial stress” which
disturbs an employee’s “mental well – being” (F. Wiginton, 2013). Financially
stressed employees are less productive, dishonest, mentally distracted and at
times may deal with financial issues during working hours. However, when
employees know how to manage their finances, they seem to have lesser
financial worries thus “come to work happier” (F. Wiginton, 2013). Zaimah R. et.
al. (2013), in their research about the financial behavior of female teachers in
Malaysia, emphasized that it is essential to “identify the financial behavior” to
describe its effects to the individual and the work performance.
Last September 2014, a horrifying incident took place at Pangasinan
National High School. As reported in the Manila Bulletin (2014), unsettled
liabilities of a number of teachers provoked a “money – lending policeman” that
resulted to the death of three (3) teachers, one (1) debt collector, four (4)
wounded and “a whole campus in trauma” and chaos. The governor of
Pangasinan declared a two - day suspension of classes so that the entire school
3
can “recover from the traumatic shooting incident” (Manila Bulletin, 2014).
It is very unfortunate that some would risk to “kill to collect loans while
others die because of debts”, (Human Rights, 2014). In this connection, the
researcher, who is the Senior Bookkeeper of Busay National High School, would
want to know the teachers’ financial status in their income, expenses, net worth,
other financial issues, and concerns. Knowing their difficult situations acted as a
springboard to conduct this study.
Theoretical Background
This study is anchored on the Deacon and Firebaugh (1988, as cited by
Kim, 2000) system model which has three (3) basic components namely input,
throughput, and output. The profile, monthly income, expenses, other financial
issues, and concerns of the respondents indicate the input for this research. The
level of financial knowledge and attitudes of the teachers serve as the throughput
which consist of the respondents’ financial management practices such as
creating a budget, and personal financial statements, credit usage, and savings.
The output is the financial net worth, financial management skills, and work
performance of the respondents. The findings of the study will serve as the
feedback which is the next action or step that has to be undertaken in order to
improve or modify the present financial practices of the teachers. Figure 1 shows
the theoretical conceptual framework of the study. According to Deacon and

4
Deacon and Firebaugh (1988) Resource Management System
FINANCIAL PRACTICES
and
WORK PERFORMANCE
of
School Personnel
Action
Plan
Figure 1
Theoretical Conceptual Framework of the Study
5
Firebaugh (1988, as cited by Kim, 2000) “managing finances can become part of
life but management also helps one to control the events of life and influence the
outcomes of situations”. A “personal system model” was introduced to
“understand how an individual manage their finances and the effects of input,
throughput, and output” (Deacon and Firebaugh, 1988, as cited by Kim, 2000).
Input is defined as “matter, energy, and information in various forms that affect
the throughput processes (management) to create output” (Deacon and
Firebaugh, 1988, as cited by Saez, 2008). Kim (2000) mentioned that in “Tucker
and Rice' financial management model, demands and resources served as the
inputs into a resource management system”. Resources are identified by Tucker
and Rice (as cited by Kim, 2000) as income and benefits earned by the
employees as well as investment in learnings such as “self - awareness, self -
knowledge, and job - related knowledge”. Kim (2000) further explained that
Tucker and Rice suggested demands as “major life goals including lifestyle,
occupation, education, marriage, residence, and retirement”. On the other hand,
throughput is the “transformation” or process to produce output (Kim, 2000).
Tucker and Rice (as cited by Kim, 2000) suggested throughput as "financial
management practices” like “prioritizing goals, record - keeping practices,
budgeting income and expenses, sequencing bill payment, accumulating savings
for unexpected expenses, choosing an investment, reviewing and evaluating
spending habits, calculating income taxes, reviewing financial growth, and
computing net worth”. Output is defined as the result or “response to input and
6
throughput processes” (Deacon and Firebaugh, 1988, as cited by Saez, 2008).
For Tucker and Rice (as cited by Kim, 2000), “financial goal achievements,
financial security, and financial independence are the result of financial
management.” In fact, various studies have used the “systems approach to
understand the role of financial management practices in determining the
financial well – being” (Davis and Helmick, 1985; Fitzsimmons and Leach, 1994;
Hira, Fanslow, and Vogelsang, 1992; Titus, Fanslow and Hira, 1989, as cited by
Kim, 2000) and “to explain the financial management practices and preparations
for financial emergencies” (Hira et. al.1992, as cited by Kim, 2000).
A nationwide survey was conducted by Sun Life of Canada (Philippines)
Inc. known as the Study of Lifestyles, Attitudes and Relationships (SOLAR) in
partnership with the Social Weather Station (SWS), during the first quarter of
2014. The survey aimed to know the personal financial attitudes of the Filipinos
in order to raise financial awareness and free themselves from financial worries.
The research revealed that Filipinos who suffered from “financial shortage” are
similar all throughout the country. It also showed that 32 percent out of the 70
percent Filipinos who are savers have a saving habit while 39 percent would
attempt to save frequently. In addition, 10 percent find it no reason to save
because their income is “not enough anyway” and only five (5) percent would
save up for the things they want to buy.
Many studies have been made to evaluate the effects of personal
financial management and work performance. “Financial knowledge” is a

7
requirement to survive in the current world (Kim, 2000) such as “credit and
money management education” like “budgeting, spending plans, record -
keeping, setting spending priorities, cutting costs, understanding debts, home
equity loans, credit cards, credit counselling advice, and debt management”
(Anderson, Kerbel, and Xiao, 1997; Cash, 1996; Garman and Bagwell, 1998;
Russell, 1997, as cited by Kim, 2000). “Financial matters are one of the most
significant issues in our daily lives because it has influence on a person’s
personal life and workplace performance” (Joo and Garman, 2000, as cited in
UKEssays). According to Garman et. al., 1996; Hendrix, Steel, and Shultz, 1987;
Joo, 1998; Pittman and Orthner, 1989 (as cited by Kim 2000), “financial stress is
associated with such things as decreased productivity, increased tardiness,
increased absenteeism, increased turnover, poor morale, and reduced job
satisfaction”.
Most of the Filipinos are passive every time we talk about the topic
“financial education” because they think it is only for those who have lots of
money (“Financial Literacy”, 2013). Regardless of how much we earn, personal
financial management is a very important issue to tackle because it has an
impact in our day to day living. Below are among the common practices that
makes us struggle financially;
Lavish Celebrations. Filipinos love to celebrate whether fiestas or
birthdays. There is nothing wrong with grand celebrations for as long as we can
afford and we do not drive ourselves into debts just to show - off.
8
Spending impulsively. It becomes very attractive and “irresistible” when
the prices are “marked down” or there are “buy-one-take-one” offers (“Money
Habits”, 2014). Thus, more money is spent on the things that are not needed
rather than making a saving (“Money Habits”, 2014).
Bahala Na Mentality. “Bahala Na” mentality sometimes “leads in the
laziness of Filipinos and lack of preparedness of our retirement” (“Filipino
Culture”, 2014). Some used it as an excuse when they fail to plan their lives.
They leave everything to God, believing that He will always provide.
Close Family Ties. This unique Filipino culture continues until one's
children are already married. The strong ties are also extended not just to
relatives, in - laws but even with friends. However, this strong bond would create
dependency. Sometimes, we resort to borrowings to settle their financial needs.
Several approaches are already available for creating, using, adjusting
and sticking to one’s planned finances even a long time ago. Among the
commonly practiced methods are the Envelope Accounting in the 1930s and the
Percentage Budget by Elizabeth Warren in 2005.
The Great Depression of the United States of America (USA) made
earning for a living difficult. Different firms were shutting down their operations.
Thus, people would set aside their money in the envelopes rather than depositing
in banks. According to Wikipedia, Envelope Accounting or Envelope System is “a
smart budgeting contribution” that emerged during the first recession of the USA
during the 1930s. Envelope Accounting or System is still evident and widely
9
practiced by some individuals today. Even our very own, Bo Sanchez (2010),
best - selling Filipino author, entrepreneur, preacher and lay minister, in one of
his books introduced the Envelope System on how to save his employees hard
earned money. He mentioned that five (5) envelopes for tithes, expenses,
support, emergency, and retirement should be prepared once salaries are
received.
Achieving one’s goal to financial freedom is never easy because there are
so many distractions along the way such as the competing needs and wants. In
2005, Elizabeth Warren, elected Senator of Massachusetts and with her
daughter, Amelia Tyagi, came up with a practical money management strategy –
the 50 - 30 - 20 Budget or the Percentage Budget. The 50 – 30 – 20 Rule
proposed that net income of a person after taxes shall be spent on 50 percent for
the needs, 30 percent for the wants or enjoyments and 20 percent in paying off
debts or setting aside for savings.
Indeed, making a detailed plan of one’s cash inflows and cash outflows is
an uphill battle especially if one’s expenses are doubled or tripled against income
received. It will never be an easy journey as life itself is not fair. Many are born
with a silver spoon in the mouth but we cannot deny the fact that many too are
born with less fortune but with more financial responsibilities. But if we are in
great financial distress in the present, there are always ways to be financially fit
in the future.
Along with the different approaches or models about keeping track of

10
one’s resources and expenditures are Filipino personalities who believed in the
importance of having good personal financial skills and putting them into practice
in order to achieve financial freedom;
Francisco Colayco (2004 – 2005), best - selling author and personal
finance expert, expressed that having lots of money is not a measurement that a
person is affluent but being able to provide with “one’s chosen lifestyle”.
Chinkee Tan (2012), a Filipino motivational speaker, wealth coach and
former actor, said “to be rich, one must start with a healthy, right MINDSET” with
regards to money. Money is a tool, a test and a testimony which a person can
use either the right or wrong way depending on his mindset or perspective.
Francis Kong (2014) mentioned that “optimism must be combined with
realism”. Being an entrepreneur, he looks at the two (2) sides of the coin –
“hopes for the best and prepares for the worst”. He does not intend to be very
wealthy “as this kind of purpose will rob him of the joy of living”. Since ahead of
us is the uncertain future, one must possess the habit of saving because “rainy
days will surely come”. It is important that one should know where he stands, not
just financially but in all aspects of life in order to be happy.
Kim (2000) said that “financial management requires systematic and
disciplined thought and action”. When in a tight budget, one must be very
diligent to control the spending to avoid financial troubles. Financial
management is an important skill one has to learn to keep debts manageable
and eventually become financially independent (Saez, 2008). “Since an

11
employee is a personal financial manager, work and personal finances are
associated to each other” (Kim, 2000). He further states that personal financial
problems intervenes or distracts “workplace responsibilities” (Kim, 2000).
Mugenda et. al. (1990 as cited by Kim, 2000) “concluded that financial
knowledge helped people carry out financial management activities”.
THE PROBLEM
Statement of the Problem
This study assessed the financial practices and work performance of the
school personnel at Busay National High School, Cebu City during the calendar
year 2015 as basis for an action plan.
Specifically, this study sought to answer the following questions:
1. What is the profile of the school personnel in terms of:
1.1. personal as to:
1.1.1. age and gender,
1.1.2. marital status,
1.1.3. position,
1.1.4. length of service,
1.1.5. work performance based on TPES and PASSA,
1.1.6. family size?
1.2. income allocation and spendings as to:
1.2.1. income,
12
1.2.2. expenses,
1.2.3. financial net worth?
2. What are the financial practices of the respondents?
3. What is the association between the financial practices and:
3.1. identified profile, and
3.2. work performance?
4. What are some issues and concerns related to the respondents’
financial practices?
5. Based on the findings, what appropriate action plan can be proposed?
Null Hypotheses
The following null hypotheses were to be tested at 0.05 alpha level of
significance.
Ho 1. There is no association between the financial practices and
identified profile.
Ho 2. There is no association between the financial practices and work
performance.
Significance of the Study
The administrators, teachers, the public, and the future researchers who
are interested and planned to gain knowledge on how to become financially fit
will benefit from this study.

13
Administrators. Through this study, they may invite financial experts to
conduct financial literacy seminar – workshops for the teachers. In addition, the
administrators will not be burdened by the teacher’s lack of focus and
absenteeism due to their financial crisis.
Teachers. They are the main focus of the study. This research will help
the teachers learn the value of managing their finances. By gradually taking
steps on how to make smart choices in spending, it will lead to a stress - free and
debt - free life. Teachers then will have focus in their teaching profession. Since
they have direct influence to the students, they might as well teach the
importance of good financial spending habits. As the saying goes, “you cannot
teach what you do not know, you cannot lead where you will not go”.
Public. Through the study, the public may be able to define their needs
and wants. It will give them insights on how to budget, control their spending and
cope with their piled – up debts. To be financially fit is also as important as being
physically, mentally, emotionally and spiritually healthy. A financially fit person is
able to share his personal financial skills and material wealth with others who are
in dire need of financial assistance.
Future Researchers. Through the study, future researchers will be
benefited because this will serve as their guide in their quest on how to improve
their financial planning and raise their level of financial awareness.

14
RESEARCH METHODOLOGY
A descriptive method of research was used to assess the financial
practices and work performance of the teachers with plantilla positions under
Busay National High School for the calendar year 2015. Researcher - made
questionnaires were used to determine the personal profile, sources of income
and spending habits of the respondents. On the other hand, the Financial
Fitness Quiz questionnaire which was taken from one of the internet sites would
determine the teacher’s financial practices while the Teacher’s Performance
Evaluation System (TPES) and the Performance Appraisal System for School
Administrators (PASSA) were the bases of their work performance.
Flow of the Study
Figure 2 that follows illustrates the flow of the study. It employs the
systems model outlining the input, process, and output approach. The input
described the personal profile of the teachers as to age, gender, marital status,
income, position, length of service, work performance, and family size. The
sources of income of the respondents were also surveyed as well as their income
allocation against their monthly spendings with regards to fixed, variable, and
periodic or occasional expenses. The Statement of Assets, Liabilities, and Net
worth (SALN) was evaluated to know the current financial position or wealth of
the teachers. Another important matter that was taken into consideration was
the school personnel’s financial practices if it had an association between

15
1. Profile of the respondents in terms of:

personal as to: age, gender, marital status, income,
I position, length of service, work performance and family
size;
N income allocation and spendings as to: income, expenses
and financial net worth.
P 2. Financial practices of the respondents.
U 3. Association between the financial practices and
T identified profile and work performance.
4. Some issues and concerns related to financial practices.
P
R Gathering of the Data will be through:
O 1. Questionnaires
C 2. Informal Interview
E
S Data will be subjected to an appropriate statistical
S treatment, followed by an analysis and interpretation.
O
U
T
P
ACTION PLAN
U
T Figure 2
The Flow of the Study
16
the identified profile and work performance. The work performance of the
teachers were based on the TPES and PASSA. Other issues and concerns of
the respondents’ financial practices were also gathered such as their reasons for
borrowing money, feelings about their current financial situations and expectation
on how it could change in the next 3 – 5 years, biggest family financial concerns,
priorities in spending in the next two (2) years, preparations for anticipated life
events, certain money issues dealt with during work time, topics on financial
education workshop they would participate if available in the future, comments
and suggestions to help the teachers improve their finances.
Questionnaires and informal interview were conducted to draw together
relevant information. Relevant data gathered and after inputs were collected,
they were subjected to appropriate statistical treatment, analyzed, and
interpreted, after which an action plan was formulated.
Environment
In general, Busay literally means waterfall or free flowing water, but for
most Cebuanos, it simply means “Paradise of Flowers”. It is a place where lies a
cornucopia of flowers, common and rare species.(DEPED)
The school began its operations way back 1971 as rural school. It has a
total land area approximately 10,000 square meters. This lot was donated by
Cesario Cadutdut and Felimon Cadutdut who were residents in the place. It was
under the administration of Violeta Henson in 1983 – 1984 when Busay Rural
High School was converted into a barangay school under the national budget of
17
Figure 3
Location Map of the Research Environment
18
the government. The school was nationalized in 1993, thus changing its name to
Busay National High School.(DEPED)
Busay National High School Plantilla was composed of personnel who
were teaching outside the vicinity of Busay National High School. Some teacher
items were included in the Plantilla but were deployed to different schools. This
was in accordance to DEPED Order No. 22, s. 2013 - Revised Guidelines on the
Transfer of Teachers from One Station to Another dated April 17, 2013, which
states that;
“The Basic Education Information System (BEIS) Teacher

Deployment Analysis for the previous school years consistently reveals
imbalances in the deployment of public school teachers. There are
still a big number of "cool colored” schools, with pupil / student - teacher
ratio of less than 40:1, while at the same time, there remains many
“red” and “black” schools. As such, it is imperative to effect
transfers of teachers from one station to another in order for the
Department of Education (DepEd) to ensure the equity of
teacher deployment.”
As posted in the National Statistical Coordination Board (NSCB) website
last October 2004, the BEIS represents “statistical data based on straightforward
counts (e.g., number teachers, or pupils, in a school, the number of instructional
rooms, school furniture (desks, sets of tables and chairs and armchairs)”.
As stipulated in DEPED Order No. 50, s. 2003 dated June 19, 2003, in
order to address the imbalances resulting from excess / shortage of teachers in
the public school system due to the increase or decrease in enrollment a
Teacher Deployment Analysis (Rainbow Spectrum) has been formulated. Table 1
shows the Revised Color Coding Scheme for Public Secondary Schools, as per
19
DEPED Order No. 88, s. 2009 dated August 20, 2009, which will be adopted and
shall henceforth be used in the computation of teacher requirements for public
secondary schools for the succeeding school year.
TABLE 1
Rainbow Spectrum for Pupil - to - Teacher Ratio (PTR)
Pupil - Teacher Color

Interpretation Priority
Ratio (PTR) Code
Less than 15.00 Blue Cool color zone, with excess teachers
15.00 - 19.99 Sky Blue Cool color zone, with excess teachers
20.00 - 24.99 Green Cool color zone, with excess teachers
25.00 - 29.99 Yellow Hot color zone, with teacher needs 5th
30.00 - 34.99 Gold Hot color zone, with teacher needs 4th
35.00 - 39.99 Orange Hot color zone, with teacher needs 3rd
40.00 + Red Hot color zone, with teacher needs 2nd
No teacher item Black No nationally funded teacher 1st
Respondents
The respondents of the study are teachers holding plantilla positions
belonging to Busay National High School for the calendar year 2015. Table 2
shows the distribution of the respondent – groups of the study.

20
Table 2
Distribution of Respondents
Station Position Item Quantity %

Bulacao Community
TI Teaching 1 3
High School
Busay National High TI Teaching 8
26
School TIII Teaching 1
Dr. Emelio Osmeña
TI Teaching 2 6
Integrated School
Lahug Night High School TI Teaching 2 6
Mabini Integrated School TI Teaching 1 3
Mabolo National High TI Teaching 1
6
Malubog Integrated TI Teaching 5
20
TI Teaching 1
Pasil Night High School 6
TII Teaching 1
Regino Mercado Night
TI Teaching 2 6
High School
TIII Teaching 1
Sinsin High School Head Non - 6
1
Teacher III teaching
Tagba - o High School TI Teaching 2 6
TI Teaching 1
Tejero Night High School Non - 6
Principal II 1
teaching
Zapatera Night High
TI Teaching 1 3
School
GRAND TOTAL 35 100
The teacher - respondents had a total population of 35, which comprised of one
(1) Principal II, one (1) Head Teacher III, five (5) Teacher III, one (1) Teacher II
and 27 Teacher I, who are stationed at different mountain barangay schools, as
well as in the schools near the heart of the city, under Cebu City Division.
21
Instruments
There were two (2) research instruments used in the study. The first
instrument was the researcher – made questionnaires which were divided into
two (2) parts.
Part I gathered information about the respondents’ personal profile,
sources of income, and spendings. The personal profile of the teachers were
grouped into six (6) variables: age and gender, marital status, position, length of
service, work performance based on the Teacher’s Performance Evaluation
System (TPES) and the Performance Appraisal System for School
Administrators (PASSA) for teachers and the principal or School Heads
respectively, and family size . On the other hand, the income allocation and
spendings were grouped into two (2) variables: income and expenses.
Part II was the financial profile of the respondents. A Statement of Assets,
Liabilities, and Net Worth was filled – out to determine the respondents’ current
financial status.
The second instrument used was the Financial Fitness Quiz which was
retrieved from www.myfinancemd.com dated March 6, 2014. The purpose of the
quiz was to examine the financial smartness or financial practices of the
respondents. Questions regarding some issues and concerns of the
respondents’ financial practices were also compiled from the different websites.
The teacher – respondents were also asked to write down their comments and
suggestions on how to help improve their finances.

22
The survey questionnaires were first served to five (5) teachers to test if
they were understood and can be answered easily.
Data Gathering Procedures
A permission to conduct this study was sought from the Cebu City Division
Superintendent through a formal letter. When the permission was granted, the
researcher asked help from the respective school heads so that the survey
questionnaires can be distributed to the respondents. Relevant information were
collected and undergone appropriate analysis. The findings of the study were
used to formulate the action plan.
Scoring Procedures
The following scoring guide, which was retrieved from
www.myfinancemd.com dated March 6, 2014, was adopted to determine the
financial practices of the respondents:
For Data Interpretation of the Financial Fitness Quiz
Score Verbal Description
Financially Fit - Congratulations, you are on your way to

80 - 100 points
financial independence.
Good Position - You are in GOOD POSITION OF

50 - 70 points
FINANCIAL FITNESS.
Financially Unfit - Sorry, you will face serious danger

0 - 40 points
when you lose your source of income.
10 points were given for every YES answers and zero (0) for every NO
responses.
23
For Measuring the Work Performance of the Respondents
This was based on the Teacher’s Performance Evaluation System (TPES)
and the Performance Appraisal for School Administrators (PASSA) for the
teachers and principal or school head respectively;
TPES Key to Descriptive Rating:
Range (%) Interpretation
86 – 100 Outstanding (O)
66 – 85 Very Satisfactory (VS)
46 – 65 Satisfactory (S)
26 – 45 Unsatisfactory (US)
25 & Below Poor (P)
PASSA Quantification
Range Interpretation
8.60 – 10.00 Outstanding (O)
6.60 – 8.59 Very Satisfactory (VS)
4.60 – 6.59 Satisfactory (S)
2.60 – 4.59 Unsatisfactory (US)
2.59 & Below Poor (P)

24
Statistical Treatment of the Data
The following statistical measures were used to interpret the data
gathered:
1. Simple Percentage – This formula was used in determining the
personal profile of the respondents such as age, gender, marital status, position,
length of service, work performance, and family size, as well as their sources of
income, spendings, financial net worth, financial practices, other issues and
concerns related to the respondents’ financial practices.
2. Chi – Square – This was used to determine the association between
the respondents’ financial practices with regards to identified profile and work
performance.
DEFINITION OF TERMS
The following terms were defined in the context of their use in the study:
Assets. These are resources or things of value that a business entity or
an individual owns. Examples are cash, land, buildings, equipment, furnitures,
cars, jewelries, tools, supplies etc.
Budget. It is a written spending plan on how to manage your money. It
shows the things what a person can only afford or enjoy based on his financial
capacity or limitations.
Expenses. It is the amount of money that you spend or take – away from
25
your pocket. Examples are buying food, paying rentals, paying your loans etc.
Financial Freedom. This refers to the capacity to support one’s chosen
lifestyle. It is synonymous to financial independence and financial fitness. It also
means being able to share your blessings without sacrificing your own financial
needs.
Financial Management Skills. This means having the exact knowledge
and expertise or ability on how to properly handle the spending of money or
one’s financial resources.
Financial Plan. It is a money guide for creating a budget, saving money
and paying debts.
Financial Practices. This term refers to the application of ideas, beliefs
or different ways on how an individual manage his finances.
Fixed Expenses. These are out of pocket costs that are unchanged and
difficult to adjust from month to month. Common fixed expenses includes
mortgage payments, monthly health insurance payments, car payments etc.
Income. It is the amount of money that you earned from your profession
or business interest.
Interest. It is the money paid regularly at a particular rate for the use of
money lent, or for delaying the repayment of a debt.
Insurance. It serves as a financial protection for an individual or entity in
the case of unexpected loss. Examples are car insurance, burial, educational,
pension, life plans, fire insurance, accident insurance etc.

26
Investments. The purchase of land, plant, and machinery for a factory in
order to produce goods for future consumption (Capital Investment). The
purchase of financial securities such as bonds, stocks, equities with financial
returns, either as income or capital gain (Financial Investment). Investments are
usually for long – term purposes.
Lending Institution. An organization or company whose main line of
business is to provide or grant loans to its borrowers.
Liabilities. It is synonymous to the term debts or loans. Liabilities are
financial obligations or payables of a business entity or an individual to its
creditors. Examples are loans, credit cards debts, mortgage payables,
insurance payables etc.
Loan Sharks. The term refers to an unlicensed money lender who offers
loans usually with exorbitant or higher interest rates.
Mindset. The term refers to how a person responds or deals to a certain
life’s situations or circumstances.
Money. It is anything that serves as a medium of exchange with regards
to making payment for buying commodities or receiving services, as well as
repayment of loans.
Needs. These are the things that an individual must have in order to
survive, such as food, water, clothing, and shelter.
Periodic Expenses. These are seasonal or occasional spendings that
comes up once in a while or not on a regular basis. It can either be fixed or

27
variable such as life and car insurance payments, tuition fees, home
maintenance expenses, gifts, personal care, and hygiene etc.
Savings. It is the amount of money which is reserved for future use or
within a short period of time. This includes bank accounts, time deposits etc.
Variable Expenses. These are spendings or cash outflows which change
or fluctuate from month to month wherein one has control. Examples are
groceries, foods, credit card debts, clothing, coffee, alcohol, cigarettes, dry
cleaning, gasoline etc.
Wants. These are goods or services that an individual desires to have but
are not essential and can still survive even without it. This includes toys,
entertainments, jewelries, branded clothes, luxury cars, glamorous trips, mall
shopping etc.
Work Performance. This refers to the ability of how a person executes or
performs his assigned duties and responsibilities to meet the goals of an
institution.
Chapter 2
PRESENTATION, DATA ANALYSIS, AND INTERPRETATION
This chapter presents, analyzes, and interprets the data collected in
relation to the study. The data pertains to the financial practices and work
performance of the teachers stationed in the identified schools under Busay
National High School Plantilla for the calendar year 2015. The presentation is
divided into five (5) parts;
Part one provides the profile of the school personnel in relation to age,
gender, marital status, position, length of service, work performance based on
the Teacher’s Performance Evaluation System (TPES) and Performance
Appraisal System for School Administrators (PASSA), and family size. It also
identifies the sources of income and spendings of the teachers in terms of
income, expenses, and financial net worth.
Part two reveals the financial practices of the research respondents.
Part three provides information on the association between the financial
practices with regard to the identified profile and work performance.
Part four tackles about some issues and concerns related to the
respondents’ financial practices.
Part five presents the appropriate action plan for the teacher –
respondents.
29
PROFILE OF THE RESPONDENTS
Part one (1) of this chapter provides the profile of the respondents in
relation to age, gender, marital status, position, length of service, work
performance, and family size. A total of 35 school personnel, which consist of two
(2) School Heads and 33 teachers, are involved in the study.
Table 3 in the succeeding page summarizes the profile of the
respondents.
Personal Profile
Age and Gender. Majority of the respondents were young teachers in
their thirties at 46 percent and twenties at 26 percent who were mostly stationed
in the mountain schools under Cebu City Division. The rest of them were in their
forties at 17 percent and fifties at 11 percent wherein half of the respondents
were stationed in the schools within the heart of the city and the remaining half
were living near the mountain schools where they are teaching. Older teachers
may request to transfer to another station or other schools who are in need of
additional teachers or in certain conditions as to exigency of service even without
the consent of the teacher as stipulated in DEPED Order No. 22 series of 2013
on the Revised Guidelines on the Transfer of Teachers from One Station to
Another.
Female teachers outnumbered their male counterparts. There were 28
females or 80 percent compared to seven (7) or 20 percent males. Many regard

30
Table 3
Profile of the School Personnel
Characteristics Frequency Percentage (%)

Age
21 - 30 9 26
31 - 40 16 46
41 - 50 6 17
51 - 60 4 11
Total 35 100
Gender
Female 28 80
Male 7 20
Total 35 100
Marital Status
Married 24 69
Single 11 31
Total 35 100
Position
Teachers 33 94
School Heads 2 6
Total 35 100
Length of Service
less than 1 year 10 29
1-5 15 43
6 - 10 2 6
11 - 15 1 3
16 - 20 1 3
more than 20 years 6 17
Total 35 100
Work Performance
Very Satisfactory (VS) 35 100
Outstanding (O) 0 0
Satisfactory (S) 0 0
Unsatisfactory (US) 0 0
Poor (P) 0 0
Total 35 100
Family Size
1-3 8 23
4-6 17 49
7-9 8 23
more than 9 2 6
Total 35 100
Family Size Type
Nuclear Family Extended Family Total
Family Size
Frequency % Frequency % Frequency %
1-3 8 31 0 0 8 23
4-6 15 58 2 22 17 49
7-9 3 12 5 56 8 23
more than 9 0 0 2 22 2 6
Total 26 100 9 100 35 100
31
teaching as a feminine profession. It requires the highest level of patience,
commitment, and dedication to the job. Female teachers tend to adjust quickly to
different types of students because they are more patient. These results could
be supported by the survey findings on Filipino Women and Men’s Education
(2010) which showed that there were more licensed professional women
compared to the licensed professional men. It was further disclosed that of the
total licensed professional women, teachers were accounted as the highest
percentage.
Marital Status. There were 11 teachers or 31 percent who were single
while 69 percent or 24 teachers were married. Probably parents would want their
in - laws who are compassionate, love children, communicative, humble, simple,
motivational, and has a stable and permanent job. YouGov (2015), a British
Survey, released a poll which revealed that one of the top most desirable
professions for parents, to be their ideal daughter - in - law at 26 percent (rank 2)
and son - in - law at 15 percent (rank 4), are teachers.
Position. In terms of position, 94 percent are teachers, of which 27 had
entry level positions as Teacher I, five (5) Teacher III and one (1) Teacher II who
were more experienced educators and on the process of honing their skills more.
On the other hand, six (6) percent or one (1) respondent for each rank are Head
Teacher III and Principal II. These group possessed the highest degree of
qualifications and mastery in the field of education.
Length of Service. Of the entry level position, it is expected that they had
32
been in the service for around 1 – 5 years at 43 percent and less than a year at
29 percent. These groups were considered as neophytes in the field of public
teaching. Six (6) percent or two (2) respondents had been teaching for 6 - 10
years which is considered as the years of continuous professional growth and
development. Despite their very stressful job, many respondents unceasingly
have the burning passion to teach as 17 percent or six (6) respondents had been
in the service for more than 20 years and the same number of respondents at
three (3) percent or one (1) teacher each had been teaching between 11 - 15
years and 16 - 20 years.
Work Performance. All school personnel had Very Satisfactory (VS)
ratings which is a good indicator that they can balance their personal and
professional life. The current research only proved the resiliency and optimism of
the Filipinos. Regardless of whatever challenges, we remain strong and positive.
We are not easily shaken by adversities or difficult situations.
Family Size. Majority of the respondents at 49 percent had a family size
of 4 – 6. While 23 percent had household members between 7 – 9 and six (6)
percent had more than 9 household members. This group will have greater
needs to make the ends meet compared to the teachers at 23 percent whose
family size is between 1 - 3 household members. The bigger the family the
higher the amount of expenses thus the higher the need for more income to meet
the basic needs. The Filipino culture of close family ties is also observed in the
current study because nine (9) out of 35 teacher – respondents had extended
33
families. This unique culture continues even if one of its members is already
married.
Income Allocation and Spendings
The school personnel’s income allocation and spendings were grouped
into three (3) variables such as income, expenses, and financial net worth.
Income. Income refers to the total amount of money earned or received
within a particular period. The respondent’s sources of income are grouped into
four (4) categories such as teacher’s net salaries, spouse earnings, sidelines or
business income, and receipts from other sources like interest income earned
from savings, amount of money received from working children.
Monthly Net Income From Profession. Table 4 displays the school
personnel’s monthly net income from profession.
Table 4
Respondents‟ Monthly Net Income From Profession
Single Married Total

Monthly Net
Income Frequency (%) Frequency (%) Frequency (%)
Php18,000 - 18,500 8 73 8 33 16 46
Php18,501 - 19,000 2 18 5 21 7 20
Php19,001 - 19,500 0 0 2 8 2 6
Php19,501 - 20,000 0 0 2 8 2 6
Php20,001 - 20,500 1 9 3 13 4 11
above Php20,501 0 0 4 17 4 11
TOTAL 11 100 24 100 35 100

34
Most of the respondents at 46 percent had a monthly net income of
Php18,000 - 18,500. About 20 percent of the respondents claimed that their net
earnings were between Php18,501 - 19,000. On the other hand, the same
number of respondents or 11 percent each had net income brackets of
Php20,001 - 20,500 and above Php20,501. While the smallest group of teachers
at six (6) percent each indicated that their net income were Php19,001 – 19,500
and Php19,501 - 20,000.
Respondents‟ Spouse Monthly Net Income from Profession. Table 5
illustrates the school personnel’s spouse monthly income from profession.
Table 5
Respondents‟ Spouse Monthly Income from Profession
Spouse‟ Monthly Net

Frequency Percentage (%)
Income
below Php8,000 1 4
Php8,001 - 12,000 5 21
Php12,001 - 16,000 1 4
Php16,001 - 20,000 1 4
above Php20,001 6 25
None 10 42
TOTAL 24 100
Of the total population, 24 or 69 percent were married. It was found that
42 percent of the teachers’ spouses were unemployed. Meanwhile, seven (7) of
the remaining 14 teachers’ spouses who were reported to be earning can be
considered to have stable jobs due to the nature of their employment and higher
35
salary rates such as seaman, politician, technician, and DEPED teacher. While
the other half or seven (7) out of the 14 respondents’ spouses, who were income
generating, can be considered to have unstable jobs because their works are
seasonal or lack security of tenure.
Sidelines or Business Income. Table 6 displays the school personnel’s
sidelines or business income.
Table 6
Respondents‟ Sidelines or Business Income
Sidelines / Single Married Total

Business Income Frequency (%) Frequency (%) Frequency (%)
below Php5,000 1 9 3 13 4 11
Php5,001 - 8,000 1 9 4 17 5 14
Php8,001 - 11,000 0 0 1 4 1 3
Php11,001 - 14,000 0 0 2 8 2 6
above Php14,001 0 0 1 4 1 3
None 9 82 13 54 22 63
TOTAL 11 100 24 100 35 100
Most of the married respondents at 54 percent had no sidelines. About 17
percent revealed that they earned between Php5,001 - 8,000 a month, 13
percent earned additional income of below Php5,000, eight (8) percent at
Php11,001 - 14,000, and four (4) percent each with monthly sidelines of
Php8,001 -11,000 and above Php14,001. On the other hand, majority of the
single teachers at 82 percent did not have any other sources income aside from
their salaries. While the same number of teachers at nine (9) percent each had
36
sidelines that earned below Php5,000, and between Php5,001 – 8,000.
Other Income (Savings, amount received from working children).
Majority of the teachers, whether married at 92 percent or single at 82 percent,
did not have any other means of income. The respondents will less likely have
an interest or passive income from their savings because setting aside a certain
amount of money is not among their top priorities as proven in Table 8 and Table
12 in the succeeding pages. However, there were only two (2) married
respondents or eight (8) percent had other source of income of above Php2,501
while only one (1) unmarried teacher or nine (9) percent each who earned
additional income of below Php1,000 and Php1,501 - 2,000. Table 7 displays the
school personnel’s other income frequency and percentage distribution.
Table 7
Respondents‟ Other Income

Other Income
Frequency (%) Frequency (%) Frequency (%)
below Php1,000 1 9 0 0 1 3
Php1,001 - 1,500 0 0 0 0 0 0
Php1,501 - 2,000 1 9 0 0 1 3
Php2,001 - 2,500 0 0 0 0 0 0
above Php2,501 0 0 2 8 2 6
None 9 82 22 92 31 89
TOTAL 11 100 24 100 35 100
In the 2012 Family Income and Expenditure Survey (FIES) released by the
Philippine Statistics Authority (PSA) last July 7, 2014, the final results showed
37
that 46.7 percent of the families of the entire Philippine archipelago “sourced their
income from salaries and wages”. The same is true with the findings of the
present study wherein majority of the married and single respondents were
dependent on their employment income. The risk of financial difficulty among the
respondents is high in case of illness, accident, and unexpected delays in the
payroll.
Spendings. In this study, expenses are classified into fixed, variable, and
periodic / occasional expenses. Fixed expenses are cash outflows that remained
the same from month to month. Expenses that vary every month or tend to be
discretionary wherein one has control are called variable expenses. On the other
hand, periodic or occasional expenses are amount of money spent on items or
events that may come up just once in a while. Only the top three (3) spendings
which comprised the biggest share of fixed, variable, and periodic expenses were
presented.
Fixed Expenses. As shown in Table 8, a big portion of the teachers’
monthly income were used in paying their various liabilities in almost all of the
given categories. The sources of their loans include different institutions such as
banks, GSIS, lending, and even from loan sharks. In view of these results, there
is a probability that more money is shelled out because interest rates are not
closely monitored. As shown in Table 15 in the succeeding pages, the top three
(3) reasons mentioned by the teachers why they resort to various borrowings
were house renovation / maintenance, procurement of furnitures / appliances,

38
Table 8
Respondents‟ Top Three (3) Fixed Expenses
above Php7,001 Frequency Percentage (%)

Bank Loans 24 69
GSIS Loans 8 23
Lending 4 11
Php5,501 - Php7,000
Lending 1 3
House Helper 1 3
Php4,001 - Php5,500
Bank Loans 2 6
GSIS Loans 1 3
Loan Sharks 1 3
House Rental 1 3
Php2,501 - Php4,000
House Rental 5 14
House Helper 5 14
Bank Loans 2 6
GSIS Loans 2 6
Lending 2 6
Loan Sharks 1 3
Electricity and Water 1 3
Php1,001 - Php2,500
Landline/Internet 7 20
GSIS Loans 5 14
Insurance 5 14
below Php1,000
Cable TV 30 86
Landline/Internet 10 29
39
and house and lot. The results would also indicate that the teachers enjoy to
avail loans for projects and probably to augment their source of income for their
household expenses. A small amount or percentage were allocated to other
expenditures such as house helper, house rental, insurance, cable television,
landline / internet, electricity and water. Unfortunately, the respondents do not
have the inclination to save because setting aside for savings cannot be seen in
any of the given categories as presented in Table 8. This would also suggest
that the teachers will encounter financial danger in case of unexpected expenses
and emergencies. This is never good because this would also imply financial
dependence on other people in case sudden illness or unforeseen events. As
much as possible, regardless of how much a person earns, he should make it a
habit to save every payday.
Variable Expenses. Table 9, that follows, presents the top allocations of
the school personnel with regards to variable expenses. When it comes to family
income and expenditures surveys of the different countries, food is always the
number one (1) priority of the household expenditures. The same is true with the
findings of the current research wherein, food consumption accounted for a
significant share in almost all of the given categories such as 23 percent for
above Php7,001, 11 percent for Php5,501 – 7,000, 26 percent for Php4,001 –
5,500, and 17 percent for Php2,501 – 4,000. This is expected because food is a
basic need of man. Living in a borrowed income is hard, but it is much harder if
we do not have food to eat. It will be very difficult to report to school with an
40
Table 9
Respondents‟ Top Three (3) Variable Expenses

Foods 8 23
Php5,501 - Php7,000
Foods 4 11
Php4,001 - Php5,500
Foods 9 26
Meals at Work and Restaurant /
1 3
Coffee Breaks, snacks, softdrinks
Transportation 1 3
Clothes, shoes, and bags 1 3
Php2,501 - Php4,000
Foods 6 17
3 9
Transportation 3 9
Toiletries 1 3
Php1,001 - Php2,500
13 37
Transportation 10 29
below Php1,000
Haircut / Manicure / Pedicure 27 77
Toiletries 26 74
41
empty stomach. Other top expenditures were accounted to meals at
work and restaurant / coffee breaks, snacks, softdrinks, transportation clothes /
shoes / bags, toiletries and haircut / manicure / pedicure. Some teachers who
were stationed in the mountain schools specifically Dr. Emelio Osmeña
Integrated School, Sinsin High School and Tagba – o High School, opted to go
home only on weekends to save time and money.
Periodic / Occasional Expenses. As shown in Table 10, one of the top
allocations for periodic / occasional expenses were accounted to major holidays
and birthdays / fiestas / parties. Allocation for major holidays were Php4,001 –
5,500 at 17 percent, Php2,501 – 4,000 at 14 percent, and Php1,001 – 2,500 at
34 percent. While Php4,001 – 5,500 at six (6) percent, Php1,001 – 2,500 at 31
percent, and below Php1,000 at 37 percent were budgeted for birthdays / fiestas
/ parties. This would imply that the teachers love celebrations and value their
families whatever financial and economic crisis that may come to their lives. De
Guzman et. al. (2008) explained that this belief gets the chance to be pessimistic
when individuals use their hard – earned cash barely to “entertain friends and
show – off”. Some are even compelled to loan from usurers who charge high
interest rates (De Guzman et. al., 2008).
The typical Filipino culture of close family ties is observed again in this
research. Giving of financial assistance were budgeted between Php4,001 –
5,500 at 11 percent, Php2,501 – 4,000 at six (6) percent, and below Php1,000 at
37 percent. The results displayed the generosity of the teachers. We seem to

42
Table 10
Respondents‟ Top Three (3) Periodic / Occasional Expenses

Tuition Fees 1 3
School Supplies, Uniform etc. 1 3
Allowances 1 3
Taxes and Licenses 1 3
Php5,501 - Php7,000
Php4,001 - Php5,500
Major Holidays 6 17
Financial Assistance 4 11
Birthdays / Fiestas / Parties 2 6
Doctor / Dentist 2 6
Php2,501 - Php4,000
Major Holidays 5 14
Tuition Fees 2 6
Prescriptions / Medicines 2 6
Php1,001 - Php2,500
Major Holidays 12 34
below Php1,000
Charities / Church tithes 23 66
Prescriptions / Medicines 16 46
Doctor / Dentist 13 37
43
find it hard to refuse somebody who is in dire need of financial help even to the
point of becoming a personal bank to family members, relatives, and even
friends. Sometimes people tend to abuse one’s generosity. In worst scenarios,
we provide them the best available resources we can offer, “they want the best
we have and won’t stop from asking until nothing is left on us” (Nhey, 2008).
More than half or 66 percent of the teachers practiced tithing. This would
suggest that despite shortage of funds, they never fail to thank God for the
countless blessings they received. Tithing is a way of giving back to God for all
His goodness though sometimes we may feel inconvenient and sacrificial to tithe
due to financial challenges.
Other allocations were on medications, professional fees on doctors,
education, taxes and licenses. Since 28 percent of the population belonged to
the forties and fifties, the teachers tend to take more medications because they
are more likely to have more ailments than the younger teachers. The results
also revealed that allocations related to education were not that big because
some of the married teachers’ children were either not yet in school, enrolled in
public schools or have already graduated.
Financial Net Worth. Our Statement of Assets, Liabilities, and Net Worth
(SALN) offers variety of financial information which can help us in making wise
financial decisions. But most often, it is overlooked and only prepared to meet
the deadline of its submission or possibly as part of the teachers’ clearance. One
of the important financial knowledge that can be learned from our SALNs is the
44
financial net worth. Financial net worth measures a person’s wealth or where
one stands financially. It is the difference between a person’s assets and
liabilities. In other words, it is what a person owns or the remaining amount of
money after deducting what he owes. The findings of the current study revealed
that 24 out of 35 school personnel had below Php100,000 net worth, of which 15
respondents had negative balances. It is a bad financial indication because the
teachers were in excessive debts and financially unprepared in case of
unforeseen events or emergencies. Negative net worth would further mean that
a person will have difficulty in paying - off his existing debts even if he sells all his
existing assets. The rest of the respondents had positive and higher net worth
which they can use in case of unanticipated financial challenges. Table 11
presents the distribution of the school personnel’s’ financial net worth.
Table 11
Respondents‟ Financial Net Worth

Financial Net
Worth
Frequency (%) Frequency (%) Frequency (%)
below
10 91 14 58 24 69
Php 100,000
Php 100,001 -
1 9 3 13 4 11
200,000
Php 200,001 -
0 0 2 8 2 6
300,000
above
0 0 5 21 5 14
Php 300,001
TOTAL 11 100 24 100 35 100

45
FINANCIAL PRACTICES
Part two (2) of this chapter reveals the financial practices of the research
respondents. The findings were based on their answers in the Financial Fitness
Quiz. It is composed of 10 questions of which the respondents were asked to
choose the most appropriate financial practices that best described them. Total
scores were calculated by summing up their answers wherein 10 points were
given for every YES answers and zero (0) for every NO responses.
The frequency and percentage of the results of the financial fitness quiz is
presented in Table 12. Only two (2) out of the 10 financial management
practices had a majority of YES answers. The teachers knew their current
financial worth at 66 percent. Interestingly, despite the fact that government
employees are required to submit their SALNs annually, not all are aware where
they stand financially. It only showed that some teachers will only fill – out and
submit their SALNs as compliance and neglecting the value of the financial
information found in it.
Another behavior more likely practiced by the respondents was they had a
budget and monitored their monthly expenses at 83 percent. Unfortunately, they
cannot stick to their spending plan no matter how they monitored their spendings
because 57 percent had no personal plan with specific financial goals based on
specific time table. This could be perhaps due to the absence of financial
discipline and right attitude towards money. Godwin and Caroll (1986, as cited
46
Table 12
Frequencies and Percent Scores of the Financial Practices
Yes No
Financial Quiz Questions
Frequency % Frequency %
1. Do you have enough savings to last you 3 –
6 months if, for some reasons such as illness 8 23 27 77
or loss of job, you have to stop working?
2. Do you have any form of insurance, for
example, accident or disability, or life
16 46 19 54
insurance besides what is given in your
current work / job?
3. Do you have any form of medical
13 37 22 63
insurance?
4. Do you have any long – term savings plan
such as a pension or educational plan or
9 26 26 74
endowment plan aside from your contribution
to SSS or GSIS?
5. Are you saving or investing money regularly
8 23 27 77
from your salary?
6. Do you know how much you are worth
today? Do you have your own Statement of 23 66 12 34
Assets and Liabilities?
7. Do you budget your spending and monitor
29 83 6 17
your monthly expenses?
8. Have you attended any seminar or read any
book on improving your knowledge of 7 20 28 80
personal finance?
9. Is your monthly debt payment (for
consumption purchases or credit card
11 31 24 69
payments) every month less than or just 20%
of your monthly income?
10. Do you have a personal plan with specific
15 43 20 57
financial goals based on specific time table?
LEGEND: Adapted from the Interpretation of the Financial Fitness Quiz
Score Verbal Interpretation

80 – 100 points Financially Fit
50 – 70 points Good Position
0 – 40 points Financially Unfit
47
by Kim, 2000) mentioned that despite the fact that the respondents felt that the
suggested practices were essential, they did not perform those practices.
In case of unforeseen circumstances, most of the teachers will be in
financial distress and are not prepared to encounter emergencies because a
sizeable number of respondents at 77 percent did not have enough savings to
last for 3 – 6 months, 54 percent did not have any form of insurance besides
what is given in the current work nor medical insurance at 63 percent. In fact,
Senator Bam Aquino (2015) was alarmed by the results of Bangko Sentral ng
Pilipinas (BSP) Survey on Financial Inclusion, which revealed that only four (4)
out of 10 Filipinos have savings or reserve funds. He could not imagine in which
a crisis comes up where one requires money, such as a disaster or a sudden
ailment.
“In the Philippines, children are expected to take care of their aged parents
during retirement” (Mandigma, 2014), would be dependent on their relatives and
on charity (SSS Filipino Retirement Survey, 2010, as posted by Intal, 2014) and
would rely on the government (East Asia Retirement Survey, 2015). This tend to
answer why 74 percent of the teachers did not have long term savings plan nor
saving or investing money regularly from their salary at 77 percent. It is not a
good idea to depend on others for our financial needs. As much as possible a
person should have a financial plan on where he is going in the years to come.
The findings of the present study also showed that 69 percent had no
monthly debt payment of less than or just 20 percent of their monthly income.
48
This would imply that majority of the respondents were in excessive debts which
can also be proven in the earlier results shown in Table 9 about their top
allocations for fixed expenses. A general guideline is that “debt payments”
including “mortage payments” must be approximately close between 30 to 40
percent of income received (Titus, 1989).
The teacher’s payslips can also be used in making sound financial
decisions. But for most teachers, especially those who are in financial bondage,
overlooked the significant financial information found in it. In fact, payslips are not
just for “sukli” or presented to the lenders where the ATMs are pawned, but as a
guide in making wise financial choices. The payslips and SALNs contain debt
ratios which ensure that a person’s debt level does not become so high that one
is unable to pay.
One of the factors attributed to the respondent’s lack of good financial
management practices was 80 percent had not attended any seminar or read
any book to improve their knowledge of personal finance. The results indicated
that the teachers lack education about money management. The financial
unpreparedness of the teachers could be the output of the absence of financial
guidance at home. Rajna (2011) stated that individuals differ in managing money
because of the different practices and beliefs taught at home. It was further
explained that “the behavioral pattern” acquired during childhood may continue
until one gets older (Rajna, 2011). Likewise, educational background could also
have an effect since BS Education is a non – business related course. Shaari et.
49
al. (2013), concluded that students whose courses are “non - business majors”
are more likely to have fewer knowledge or information about money
management compared to “business majors” especially in finance and
accounting.
Overall results showed that irrespective of age, gender, marital status,
position, length of service, work performance, family size, monthly net income,
and financial net worth, most of the school personnel were financially unfit at 57
percent, in good financial position at 37 percent and financially fit at six (6)
percent. Table 13 summarizes the financial practices of the respondents.
Table 13
Summary Table of Financial Practices
Frequency Percentage (%)
Financially Fit 2 6
Good Position 13 37
Financially Unfit 20 57
TOTAL 35 100
50
ASSOCIATION BETWEEN FINANCIAL PRACTICES AND IDENTIFIED
PROFILE AND WORK PERFORMANCE OF THE RESPONDENTS
Part three (3) presents the result of the statistical tests if there is an
association between the financial practices with regards to the identified profile
and work performance of the respondents.
Table 14 gives the summary of the association between financial practices
and identified profile and work performance of the teachers.
Table 14
Association between Financial Practices and Identified Profile and
Work Performance of the Respondents
Financial Chi -
p-
Practices square Decision Interpretation
value
and: (x2)
Fail to reject the
Age 8.99 .1741 Not Significant
null hypothesis
Reject the null
Gender 6.56 .0376 Significant
hypothesis
Fail to reject the
Marital Status 2.02 .3644 Not Significant
null hypothesis
Reject the null
Position 8.09 .0442 Significant
hypothesis
Length of Fail to reject the
5.98 .8168 Not Significant
Service null hypothesis
Monthly Net Fail to reject the
Income null hypothesis
Fail to reject the
Family Size 6.30 .3906 Not Significant
null hypothesis
Financial Net Fail to reject the
Worth null hypothesis
Level of Significance = .05 alpha
51
Association Between Financial Practices and Age
We fail to reject the null hypothesis since the computed x2 value of 8.99 is
less than the critical value of x2 = 12.592 while p value of .1741 is greater than the
alpha .05. The analysis revealed that financial practices is not associated with
age of the respondents. Thus, based on the findings, it can be drawn that the
age of the respondents is independent from financial practices. The study is
related to the findings of Bhushan et. al. (2013, as cited by Bashir et. al.) and
Gupta et. al. (2014) which showed that financial literacy is not affected by age.
Association Between Financial Practices and Gender
The statistical analysis revealed that there is an association between the
financial practices and gender of the respondents. Thus, we reject the null
hypothesis since the computed x2 value of 6.56 is greater than the critical value
of x2 =
5.991 while p value of .0376 is less than the alpha .05. The result
suggests that female teachers are better in financial management than their male
counterpart. According to Hayhoe, Leach, Turner, Bruin and Lawrence (2000, as
cited by Taft, 2013), women were more likely to report the use of sound financial
practices. In fact, an international survey was conducted by the Global Reuters
Synovate (2009), which revealed that there were “more women who believed in
their financial ability than men, with 61 percent felt they were more responsible
wherein 40 percent of men agreed to it”. The result would further suggest that
since women are more open and humble to admit their life’s challenges, they are
more likely able to seek for help and collect more efficient ways to make sound
52
financial decisions. This idea is supported by the study, which is entitled Money
Across Generations II (2012), which showed how gender differences handle
financial issues. According to the study, 54 percent of women discuss finances
with relatives compared to 46 percent of men.
Association Between Financial Practices and Marital Status
The analysis revealed that there is no association between financial
practices and marital status of the respondents. Thus, we fail to reject the null
hypothesis since the computed x2 value of 2.02 is less than the critical value of x2
=
5.991 while p value of .3644 is greater than the alpha .05. Hence, based on the
findings, it can be drawn that the respondents’ marital status is independent from
financial practices. The research outcome was in line with the findings of Gupta
et. al. (2014) who showed that marital status does not play any significant role in
the financial literacy of the respondents and the findings of Rajna (2011) who
revealed there is no significant relationship between financial attitude and
practice.
Association Between Financial Practices and Position
The result implies that the higher the qualifications the higher the
knowledge acquired or learned. Based on the statistical results, we reject the
null hypothesis since the computed x2 value of 8.09 is greater than the critical
value of x2 = 7.815 while p value of .0442 is less than alpha .05. The study found
out that there is an association between the financial practices and the position of
the respondents which is supported by the findings of Bahonar et. al. (2014) who
53
showed that there is a relationship between financial literacy and teachers'
education level and Bashir et. al. (2013) who found out that qualification was
positively related to financial literacy which was supported by Al – Tamimi et. al.
(2009) revealed that “respondents who hold high educational degrees had higher
financial literacy level than others”.
Association Between Financial Practices and Length of Service
The analysis revealed that there is no association between the financial
practices and the length of service of the respondents. Thus, we fail to reject the
null hypothesis since the computed x2 value of 5.98 is less than the critical value
of x2 = 18.307 and p value of .8168 is greater than alpha .05. Hence, based on
the findings, it can be drawn that the respondents’ length of service is
independent from the financial practices. The findings of the current study were
in line with that of Rajna (2011) who suggested that there is no relationship
between financial management attitude and practice with the number of years
the medical practitioners are in service.
Association Between Financial Practices and Monthly Net Income
practices and monthly net income of the respondents. Thus, we fail to reject the
null hypothesis since the computed x2 value of 9.98 is less than the critical value
of x2 = 18.307 while p value of .4426 is greater than the alpha .05. Hence, based
on the findings, it can be drawn that the respondents’ net monthly income from
profession is independent from financial practices. The results of the study were
54
compatible with the findings of Gupta et. al. (2014) who have confirmed that
income do not play any significant role in the financial literacy of the respondents.
However, the result contradicted with the findings of Bhushan et. al. (2013) which
reported that the more the income the higher the level of financial literacy.
Association Between Financial Practices and Family Size
practices and family size of the respondents. Thus, we fail to reject the null
hypothesis since the computed x2 value of 6.30 is less than the critical value of x2
=
12.592 and p value of .3906 is greater than the alpha .05. Hence, based on the
findings, it can be drawn that the respondents’ family size is independent from
financial practices. The findings were related to the results of Gupta et. al.
(2014) which showed that the number of family members does not play any
significant role in the financial literacy of the respondents.
Association Between Financial Practices and Financial Net Worth
practices and the financial net worth of the respondents. Thus, we fail to reject
the null hypothesis since the computed x2 value of 11.24 is less than the critical
value of x2 = 12.592 and p value of .0811 is greater than the alpha .05. Hence,
based on the findings, it can be drawn that the respondents’ financial net worth is
independent from financial practices. The findings of the study contradicted with
Rooij et. al. (2011) who found that there is a positive and statistically significant
effect of basic financial literacy on total net worth.

55
Association Between Financial Practices and Work Performance
Unfortunately, the current study cannot prove the significant relationship
between the level of financial practices and work performance of the
respondents. Chi – square cannot be calculated because there were many
expected values which were equal to zero (0). Unlike other studies, it was
discovered that anxiety brought by money related issues is associated with such
things as poor job performance and satisfaction, high rates of tardiness,
absenteeism and turnover as well as low morale (Garman et. al., 1996; Hendrix,
Steel, & Shultz, 1987; Joo,1998; Pittman & Orthner, 1989, as cited by Kim 2000).
In fact, in a study of financial behaviors of female teachers of Malaysia, Zaimah
R. et. al. (2013) suggested that it is necessary to understand the “financial
behavior” because it affects the “financial well – being” which might also
influence his workplace performance.
In view of the results of the current research, the school personnel are
disturbed by their financial challenges as evidently proven in Table 22 in the
succeeding pages. Many of them admitted that they have spent some time at
work dealing with personal and family monetary issues.

56
OTHER ISSUES AND CONCERNS OF THE RESPONDENTS‟
FINANCIAL PRACTICES
Part four (4) tackles about some issues and concerns related to the
respondents’ financial practices.
Question 1. What are your reasons for borrowing money?
Table 15 shows the order of priority for the reasons for borrowing money.
Table 15
Respondents‟ Reasons for Borrowing Money
Answers Frequency Rank
House Renovation / Maintenance 16 1
Furnitures / Appliances 12 2
House and Lot 11 3
Open a business 10 4
Gadgets / Computer Equipments 10 4
Education 9 5
The top most reasons for being in debt were house renovation /
maintenance (16). This would imply that majority of their houses were in poor
condition thus needing renovation or maintenance. To add beauty to their house,
respondents intend to purchase furnitures / appliances (12). Other priorities

57
included acquire their own house and lot (11), open a business (10), buy gadgets
/ computer equipment (10), and invest for education (9).
Question 2. How do you feel about your financial situation today?
When the respondents were asked about how they feel with their current
financial situation, majority of the teachers at 51 percent indicated they were just
on the average. This would suggest that they were neither satisfied nor
dissatisfied with their present financial status. While 20 percent expressed that
they were quite positive and the remaining 17 percent and 11 percent were not
positive at all and not very positive respectively. Table 16 displays the frequency
and percentage results on how the teachers feel about their current financial
situation.
Table 16
Respondents‟ Financial Situation Today
Answers Frequency Percentage (%)
Average 18 51
Quite Positive 7 20
Not positive at all 6 17
Not very positive 4 11
Very Positive 0 0
TOTAL 35 100
58
Question 3. How do you expect to change your financial situation to change in
the next three (3) to five (5) years?
The results indicated that 43 percent were very positive that their present
financial situation could change in the next 3 – 5 years. 29 percent expressed
that they were quite positive, 20 percent were on the average and a very small
percentage of nine (9) percent were not very positive. The findings showed the
resiliency and optimism of the respondents. These are two characteristics most
oftenly described to us as Filipinos. We are not easily shaken by adversities or
difficult situations. Table 17 displays the results of the frequency and
percentages of the teachers' expectations on how their financial situation could
change in the next three (3) to five years (5).
Table 17
Respondents‟ Financial Situation in the Next 3 – 5 Years
Answers Frequency Percentage (%)
Very Positive 15 43
Quite Positive 10 29
Average 7 20
Not very positive 3 9
Not positive at all 0 0
TOTAL 35 100
59
Question 4. What is your biggest financial concern when it comes to your
family?
The survey reported that family’s health (30) is the biggest financial
concern of the respondents. It also disclosed that they were concerned over
lack of savings for the rainy days and for family emergencies (22), about their
children’s education (18), paying utilities (18), and others such as house
renovation, hospital assistance, and budget for family travel (4). Table 18
presents the frequency and percentages of the teachers’ biggest financial
concerns.
Table 18
Respondents‟ Biggest Financial Family Concerns
Family's Health 30 1
Saving Money 22 2
Children's Education 18 3
Paying Utilities 18 3
Others 4 4
Question 5. What would you prioritize spending your money in the next two
years?
Opening a business (20) is a major priority of the teachers in the next two
(2) years. This indicated that teachers would want to earn passive income that
60
will provide additional income to meet the NEEDS as well as the WANTS of their
respective families. Other priorities were education (18), house renovation /
maintenance (15), house and lot (14), and life / pension / health insurance (8).
Table 19 shows the frequency and percentages of the teachers’ spending
priorities in the next two years.
Table 19
Respondents‟ Priorities in the Next Two Years
Open a business 20 1
Education 18 2
House Renovation / Maintenance 15 3
House and Lot 14 4
Life / Pension/ Health Insurance 8 5
Question 6. How do you prepare for anticipated life events?
Many of the teachers were concerned about having bank savings (17) to
prepare for anticipated life events. They also intend to have other sources of
income by putting up a business (16), earning higher interest through investment
(14), making money readily available by saving at home (11), and getting life and
pension insurance (8). This would imply that the respondents would want to
have short – term and long – term financial security. Table 20 presents the
61
results of the frequency and percentages of the teachers’ preparations for
anticipated life events.
Table 20
Respondents‟ Preparations for Anticipated Life Events
Bank Savings 17 1
Put up a business 16 2
Investment 14 3
Savings at home 11 4
Get Life / Pension Insurance 8 5
Question 7. Many people spend some time at work giving attention to personal
and family challenges. This is often necessary and good. Did you use your work
time to deal with any of the given choices?
Many teachers spent some time at work dealing with issues related to
personal money matters. Though their actual performance ratings would consider
them as productive employees, it is undeniable, that they can be distracted by
financial challenges. The results of the current study revealed that the
respondents talked with co – workers about money related matters (22), talked
with a lender about a loan (6), and a small number of teachers disclosed they
made calls to friends and / or relatives about financial matters (1) and an overdue
62
credit payment (1). On the contrary, some teachers pointed out that they never
dealt with financial matters at work (12). According to Kim (2000), work time
spent for handling money related matters lessens an employee’s efficiency.
Employees with financial difficulties seem to be physically present at work but are
mentally absent. Sometimes creditors would come to the workplace harassing
the debtors to pay their loans. This can cause humiliation on both parties
involved as well as interruption and tension in the workplace. As the line goes,
“debt is a humiliation during the day and a worry at night”. Table 21 shows the
results of the frequency and percentages of teachers’ personal and family
challenges dealt during some time at work.
Table 21
Respondents‟ Personal and Family Challenges Spent Some Time at Work
Talked with co - workers about money

22 1
related matters.
I never dealt with financial problems at work. 12 2
Talked with a lender about a loan. 6 3
Made calls regarding an overdue credit

1 4
payment.
Made calls to friends and/or relatives about

1 4
financial matters.
63
Question 8. In which of the following financial education workshops would you
participate, if available in the future?
If financial workshops are available in the future, most of the teachers
desired to have topics on earning higher passive income such as investing (23),
how to plan and stick to one’s budget (20), getting out of debt (16), retirement
planning (9), and buying a home (6). Table 22 presents the results of the
frequency and percentages of the financial education workshop topics the
respondents would want to join, if available, in the future.
Figure 22
Respondents‟ Financial Education Workshops They Want to Participate
Investing 23 1
Budgeting 20 2
Getting out of a debt 16 3
Retirement planning 9 4
Buying a home 6 5
64
OUTPUT OF THE STUDY
ACTION PLAN
March 2016
65
ACTION PLAN
This section contains the output of the study in the form of an action plan
which aims to improve the financial practices of the teachers.
Rationale
Truly, having the basic knowledge on how to manage our personal
finances is necessary as it may lead to financial freedom. Being completely in
control of our financial situations can give us freedom and choices. Sunstar
CDO (2014), in one of its news article published that:
“The Civil Service Commission (CSC) reminds government

employees to spend only what one can afford or to live simply so that they
will not be trapped in deep debts. CSC said regardless that the
government employees earn higher compensation than in the private
sector, a lot of the civil servants owe a lot of money because of
uncontrollable spendings. Thus, becoming favorite clients of loan sharks.
For instance, public school teachers have better salaries compared to the
private schools would be receiving, but could not deal with their salaries
wisely. Hence, succumb to different borrowings. At times, nothing is left
in their take home pay because their expected receivables are already
sold in advance. The key to financial stability is to live simply.”
In reality, debt helps an individual in acquiring a lot of things and actually
helps one with the necessities of life. But it should be kept at a minimum or within
a person’s monetary limitations. Getting out from debt entails lots of sacrifices
and discipline. To be debt free means better management of one’s personal
finances. It is not easy at the start but as the line goes, “a journey to a thousand
miles begins with a single step.” The initial step to the journey relies on the
individual itself. A well disciplined and well informed individual makes good
financial decisions. Good financial decisions save one from being trapped with
financial worries.
66
Objectives
1. To establish linkage on various stakeholders with financial literacy
advocacy.
2. To develop a specific, measurable, attainable, realistic and time – bound
(S-M-A-R-T) financial goals.
3. To gain better insights on the value of SALN preparation and familiarity
with financial ratios.
4. To increase knowledge about budgeting and debt management.
5. To develop and enhance the entrepreneurial skills of the teachers.
Target Clientele
The target clientele of this investigation are the school personnel of Busay
National High School for the calendar year 2015.
Scheme of Implementation
The action plan formulated is aimed to raise financial awareness of the
teachers which will reduce financial stress and debts, increase their level of
financial literacy and lead them to the emotional reward of peace of mind.
Source Actual
Areas of Persons Time Acco Rema
Objectives Strategies Budget of Expected Outcome mplish rks
Concern Involved Frame
Budget ment
Create a workplace personal
Open everybody's mind to
financial literacy or financial
make financial plans and
To establish education programs.
change of lifestyle.
linkage on .50 cents
various Ask assistance from different per page Increase knowledge on
Financial stakeholders organizations to support DEPED for the MOOE all year personal finance.
Practices with trainings on financial literacy. Administrators reading Funds round
financial materials
literacy Disseminate reading materials and flyers Possess right attitude towards
advocacy. or flyers, post in dash boards money.
and upload in the website
issues about personal finance.
Presentation and
implementation of the "forced
savings or special savings"
Initiate or establish a "forced scheme.
savings or special savings
DEPED all year
scheme" such as simple and
Administrators round
affordable health insurance and Portion of the personnel's
retirement fund. salary will be saved for health
To develop insurance and retirement.
a specific,
measurable,
attainable, Maintain emergency fund for
Financial
realistic and sudden unexpected and
Practices Invite resource speakers to
time - bound unanticipated expenditures.
discuss the importance of
(S-M-A-R-T) Financial
setting personal financial 2 Php 7,400
financial Planners Plan for retirement as early as
planning, emergency and lunch
goals. possible.
retirement funds. and
MOOE INSET
AM / PM
Funds Seminar
Snacks
Invite financial planners or bank School Gain familiarity with the
35 (37 pax @
personnel to discuss on the Heads different bank products and
Php200)
various bank products such as and insurance as protection against
short - term savings accounts Teachers financial risks such as disability,
37
as well as other forms of sickness, loss of job, death and
investments. other health benefits.
67
Source Actual
Areas of Time Accom Rem
Objectives Strategies Persons Involved Budget of Expected Outcome plishme arks
Concern Frame
Budget nt
Resource Understand importance in

To gain Discuss the guidelines on how to Speakers filling - out the SALNs.
better properly prepare and fill - up 2 from Php Identify the financial condition
insights on SALNs. DEPED - 7,400 and re - evaluate one's
the value of ROVII lunch liabilities from time to time.
Financial SALN and MOOE INSET
Practices preparation Explain some financial ratios School AM / PM Funds Seminar Full understanding on one's
and which can be used to detect risk Heads Snacks capacity to make and pay
35 (37 pax @ loans.
familiarity of financial dangers. and
with financial Php200)
Teachers
ratios. 37 Learn some financial ratios for
better financial decision
making.
Plan ahead for possible
Provide series of seminar - Resource expenses through a written
spending plan.
workshops on how to make and Speakers
stay within a budget; discuss 2 from
Find ways to reduce and
elements of loans and strategies DEPED - Php control the unnecessary
To increase for reducing debts. ROVII 7,400 spendings.
Other knowledge lunch
Issues about School and MOOE INSET
Borrow money with
and budgeting AM / PM Funds Seminar
Experiential learning by airing Heads understanding of the loan
Concerns and debt 35 Snacks
terms and conditions.
testimonies of success stories of and (37 pax @
management. Teachers
those who were once debt - Php200)
ridden, group sharings and 37 Plan on how to reduce debts
like for instance using the
gather feedbacks for future
amount owed as beginning
seminar - workshops topics. capital to venture into
business.
Resource Php
2 Communicate with the entire
To develop Coordinate or seek assistance Speakers 7,400
Other family about financial matters
and enhance from private and government School lunch
and how to raise financially
Issues 35 Heads and MOOE INSET
one's entities on how to generate for responsible children.
and and AM / PM Funds Seminar
entrepreneuri possible additional source of Snacks
Concerns Teachers Find other means to augment
al skills. income or livelihood. 37 (37 pax @ their employment income.
Php200)
68
Chapter 3
SUMMARY, FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS
This chapter summarizes the entire study. It presents the summary,
findings, conclusions, and recommendations based on the data gathered during
the research.
SUMMARY
This study evaluated the financial practices and work performance of the
school personnel of Busay National High School for the calendar year 2015.
The teacher - respondents have a total population of 35 of which two (2)
were School Heads and 33 were teachers. Specifically, it is composed of one (1)
Principal II, one (1) Head Teacher III, five (5) Teacher III, one (1) Teacher II, and
27 Teacher I.
Descriptive method was used in this study. There were two (2) research
instruments used. The first instrument was the researcher – made
questionnaires which provided information about the respondents’ profile such as
age, gender, marital status, income, position, length of service, work
performance, family size, sources of income, spendings, some financial issues,
and concerns. The respondents’ work performance was based on their TPES
and PASSA. The school personnel were also asked to write their comments
and suggestions that could help improve their finances. The second instrument
70
was the Financial Fitness Quiz, which was taken from the website
http://www.myfinancemd.com, in order to test the financial practices of the
teachers. Statistical treatments were applied to analyze the data gathered. The
simple percentage was used for the profile, total scores of the financial fitness
quiz, some issues and financial concerns of the teachers. While the chi - square
was used to prove the association between the financial practices against the
identified profile and work performance of the respondents. Based on the
findings, an action plan was developed.
FINDINGS
This section summarizes the findings of the study;
1. Busay National High School had a young population. Most of the
respondents at 46 percent were between the ages 31 - 40. There were
only four (4) respondents or 11 percent who belonged to the age bracket
of 51 - 60 years old.
2. Female respondents at 80 percent outnumbered their male counterparts
at 20 percent.
3. Of the total population, 69 percent were married while 31 percent were
single.
4. Majority of the respondents at 94 percent are teachers, wherein most of
them had Teacher I positions. Meanwhile, six (6) percent had Head
Teacher III and Principal II positions.

71
5. In terms of tenure, 43 percent had been in the service between 1 – 5
years and only three (3) percent each had been teaching between 11 - 15
years and 16 - 20 years.
6. Most of the teachers at 49 percent had a family size of 4 – 6. While a very
small fraction of six (6) percent had a family size of more than nine (9)
household members. Nine (9) out of 35 had extended families.
7. The teachers’ main source of income were their salaries. The risk of
financial difficulty is high in case of illness, accident and unexpected
delays in the payroll. Most of them claimed they had a monthly net income
of Php18,000 - 18,500 at 46 percent. Meanwhile, the smallest group of
respondents at six (6) percent each indicated that their net income were
Php19,001 - 19,500 and Php19,501 - 20,000. Majority of the teachers had
no sidelines at 63 percent, 89 percent had no interest income earned from
savings nor amount received from working children.
8. Of the married respondents, 42 percent of their spouses’ were
unemployed. Of the 14 respondents’ spouses who are income
generating, half can be considered to have stable jobs while the other half
have either seasonal jobs or employed with no security of tenure.
9. Monthly fixed expenses were budgeted in paying their various debts.
Above Php7,001 of their funds were spent in different loans such as bank
loans (24), GSIS loans (8) and lending loans (4). Setting aside for savings
was never part of the top most priority for the respondents because it
72
cannot be seen in the survey findings of this research. The top three (3)
reasons cited by the teachers why they resort to various borrowings were
house renovation or maintenance (16), furnitures or appliances (12) and
house and lot (11).
10. In terms of variable expenses, food consumption accounted a significant
share or ranked one (1) for the categories of above Php7,001, Php5,501 –
7,000, Php4,001 – 5,500 and Php2,501 – 4,000. Other variable expenses
were allocated to meals at work, transportation, clothes / shoes / bags,
toiletries and haircut / manicure / pedicure.
11. With regards to the periodic or occasional expenses, top expenditures
were budgeted on major holidays, birthdays / fiestas / parties, financial
assistance, medications, education, taxes and licenses.
12. Of the total population, 24 out of 35 respondents had below Php100,000
net worth, of which 15 respondents had negative balances. Having a
negative net worth is a bad financial signal that the teachers were in
excessive debts and financially unprepared in case of unforeseen events
or emergencies.
13. The overall results of the financial quiz revealed that regardless of age,
gender, marital status, position, length of service, monthly net income,
work performance, family size, and financial net worth, majority at 57
percent were financially unfit, 37 percent in good financial position and
only six (6) percent were financially fit. Most of the respondents will face
73
serious danger when they lose their source of income because 77 percent
had no enough savings to last for 3 – 6 months in case of illness, loss of
job and will stop working, 77 percent had not saved nor invested money
regularly from their salary, 74 percent had no long term savings plan such
as pension, educational or endowment plan aside from SSS or GSIS, 54
percent had no any form of insurance besides what is given in the current
work, 63 percent had no medical insurance and 80 percent had not
attended any seminar or read any book to improve their knowledge of
personal finance. Though 66 percent of the teachers know their current
financial net worth and 83 percent had a budget and monitor their monthly
expenses but had difficulty sticking to their budget because 57 percent
had no personal plan with specific financial goals based on specific time
table.
14. It was found out that there were no associations or significant
relationships between the financial practices and the teacher’s age,
marital status, length of service, monthly net income from profession,
family size and financial net worth. Thus, we failed to reject the null
hypothesis.
15. The current study also revealed that there was an association or
significant relationship between the financial practices and the teacher’s
gender and position. Thus, the null hypothesis was rejected.
16. Unfortunately, this research cannot determine the association between

74
the financial practices and work performance of the respondents because
chi – square cannot be calculated due to the presence of one or more
expected values which is equal to zero.
17. When the teachers were asked on how they felt about their current
financial situation, 51 percent claimed that they were just on the average
or neither satisfied nor dissatisfied.
18. The respondents were optimistic that in the next 3 to 5 years their
financial situation could change as 43 percent were very positive, 29
percent were quite positive, 20 percent were on the average and only nine
(9) percent were not very positive.
19. When it comes to their family, their biggest financial concern were family’s
health (30), lack of savings for the rainy days and for family emergencies
(22), children’s education (18) and paying utilities (18) and house
renovation, hospital assistance, and budget for family travel (4).
20. When asked about what to prioritize in spending their money in the next
two (2) years the top three (3) priorities were open a business (20),
education (18), and house renovation / maintenance (15).
21. To prepare for anticipated life events, the teachers would want to have
bank savings (17), put up a business (16), invest (14), save at home
(11), and get life and pension insurance (8).
22. Based on their TPES and PASSA, 100 percent of the respondents
received Very Satisfactory ratings. However, it is undeniable that they

75
were distracted by their financial difficulties. During some time at work,
many dealt with financial issues such as talked with co – workers about
money related matters (22), talked with a lender about a loan (6), and
made calls to friends and / or relatives about financial matters (1) and an
overdue credit payment (1). On the contrary, 12 of the teachers claimed
that they never dealt with financial matters at work.
23. If financial workshops were available in the future, the teachers would
want to know about investing (23), budgeting (20), getting out of debt (16),
retirement planning (9), and buying a home (6).
CONCLUSIONS
This research assessed the school personnel’s financial practices and
how it affects their work performance. Based on the findings, it can be concluded
the teachers know their spending priorities but in general, most of them lack the
important habits of saving for the rainy days, and for family emergencies as well
as the skill in personal financial planning with specific financial goals based on
specific time table. It can also be concluded that despite having Very
Satisfactory ratings in their work performance, they admitted that some financial
issues were brought to work which could mean that at certain times they can be
distracted by their personal financial problems.

76
RECOMMENDATION
Based on the findings and conclusions of the current study, it is highly
recommended that the proposed Action Plan be considered.

77
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78
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83
APPENDICES
84
Appendix A
TRANSMITTAL LETTER
March 8, 2015
DR. RHEA MAR A. ANGTUD

Schools Division Superintendent
Cebu City Division
Dear Dr. Rhea,
Warm Greetings!
The undersigned is currently conducting a research on the “Financial Practices

and Work Performance” of Busay National High School. This is in partial
fulfillment of the requirements for the degree of Master in Public Administration.
In this connection, may she then ask your permission that she may be allowed to
distribute questionnaires related to her study. Rest assured that all information
gathered will be treated with utmost confidentiality and anonymity.
Your kind approval for this request is very much appreciated.
Respectfully yours,
(Sgd.) JACKIE LOU B. CLARIN

Researcher
Contents Noted:
(Sgd.) REBECCA DC. MANALASTAS, Ph. D.

Dean Graduate School
Approved by:
(Sgd.) RHEA MAR A. ANGTUD, Ed. D.

Schools Division Superintendent – Cebu City Division
85
Appendix B
SURVEY QUESTIONNAIRE
Dear Respondents,
I, Jackie Lou B. Clarin, an MPA student of Cebu Technological University, is

conducting an assessment of the financial practices and work performance of the
teachers under Busay National High School. This is in partial fulfillment of the
requirement for my post graduate studies. In this connection, I would like to ask
favor from you to answer my questionnaires. The study aims to help improve in
managing your personal finances. Rest assured that your answers will be treated
with utmost confidentiality. Thank you very much and God Bless.
Jackie Lou B. Clarin
1.1. Profile of the Respondents
Name:___________________________Age:_______Position:______________
Length of Service:________Occupation of Spouse, if married_______________
Resident/Home Location:____________________________________________
If not residing within the vicinity of the stationed school (e.g. Malubog IS but
home address is e.g. Lahug, Labangon, or Pardo, Cebu City), how often do you
go home? _____Daily _____Weekend ______ Not Applicable
Number of Households in the Housing Unit
Type of Household ___Nuclear Family ___Extended Family
1.2.1. Monthly Income of the Respondents
INSTRUCTION: On the space provided, indicate a check mark (√) which is

appropriate to you.
__Php18,000 - 18,500 __Php19,501 - 20,000
Monthly Income
from Profession __Php18,501 - 19,000 __Php20,001 - 20,500
(net of GSIS/SSS, PHIC,
HDMF, & TAX) __Php19,001 - 19,500 __above Php20,501
86
Monthly Income of Spouse __below Php8,000 __Php16,001 - 20,000

from Profession
(net of GSIS/SSS, PHIC, __Php8,001 - 12,000 __above Php20,001
HDMF, & TAX)
__Php12,001 - 16,000 __none
Sidelines / Business
__below Php5,000 __Php11,001 - 14,000
Income
__Php5,001 - 8,000 __above Php14,001
__Php8,001 - 11,000 __none
Others, please specify

(e.g. interest income from __below Php1,000 __Php2,001 - 2,500
savings, amount received
from working children) __Php1,001 - 1,500 __above Php2,501
__Php1,501 - 2,000 __none
1.2.2. Monthly Spendings of the Respondents
INSTRUCTION: Place a check mark ( √ ) on the column which is appropriate to

you.
FIXED MONTHLY EXPENSES

(expenses that are the same every month)
Loan NONE
below Php1,001- Php2,501- Php4,001- Php5,501- above
Amortizations Php1,000 Php2,500 Php4,000 Php5,500 Php7,000 Php7,001
Bank Loans
GSIS Loans
Lending institution's
loans (e.g. Pacubas, Alano
& Sons)
Loan Sharks
(e.g. officemates, neighbors)
Pag - ibig Loans

Provident Fund Loans
87
continuation of fixed expenses

NONE Php1,000 Php2,500 Php4,000 Php5,500 Php7,000 Php7,001
Savings
Insurance (e.g. burial,
health, retirement, fire, house)
Miscellaneous
Cable TV
Cellphone Load
Electricity and Water
House Rental
Household Helper
Landline/Internet
Service
VARIABLE MONTHLY EXPENSES

(expenses that vary from month to month)

Foods NONE
Php1,000 Php2,500 Php4,000 Php5,500 Php7,000 Php7,001
Foods
Meals at Work and
Restaurant / Coffee
Breaks, snacks,
softdrinks
Transportation
Miscellaneous
Credit Cards
Clothes, shoes and
bags
Laundry / Dry
Cleaning
Toiletries (e.g. tissue,
soap, brush, toothpaste,
shampoo)
Haircut / Pedicure /
Manicure
88
continuation of variable expenses

NONE Php1,000 Php2,500 Php4,000 Php5,500 Php7,000 Php7,001
Cigarettes, beer,
wine, and liquor
PERIODIC / OCCASIONAL EXPENSES

(1/12 of the annual payment e.g. tuition for the whole year Php 24,000, divide it by 12 months so
monthly expenses is Php 2,000 which falls between Php1,001 - Php2,500)

Education NONE Php1,000 Php2,500 Php4,000 Php5,500 Php7,000 Php7,001
Tuition Fees
School Supplies,
Uniform, Books and
Magazines
Allowances
Medical
Doctor / Dentist
Prescriptions /
Medicines
Taxes and Licenses
(e.g. real estate tax)
Repairs and
Maintenance
Gifts / Donations
Charities / Church
tithes
Birthdays / Fiestas /
Parties
Major Holidays (e.g.
Christmas, Anniversaries, Mother
and Father's Day)
Financial Assistance
(e.g. sick relatives, education of
relatives, victims of calamities)
Miscellaneous
Gambling / Lotto
Subscriptions (e.g.
newspapers, magazines)
89
1.2.3. Financial Net Worth of the Respondents
INSTRUCTION: Write honestly the exact amount on the spaces provided under
"Column A" only.
STATEMENT OF ASSETS, LIABILITES, AND NETWORTH (SALN)

for the year ended 2014
(including those of spouse if married)
COLUMN A
ASSETS
Cash
Cash - on - Hand Php
Cash - in – Bank
(e.g. savings & checking accounts, time deposits)
sub - total CASH Php
Property @ acquisition cost

House & Lot
Automobile (e.g. cars, motorcycle)
Appliances
(e.g. TV, radio, mini component, refrigerator, aircon)
Furnitures and Fixtures
(e.g.tables, cabinet, sala set)
Computer Equipment and Peripherals
(e.g. PC, netbook and laptop)
Gadgets (e.g. cellphones, tablets)

Jewelries
Clothes, shoes, bags
_____________________
sub - total PROPERTY Php
Insurance @ paid - up portion

Burial Plan
Pension / Life / Retirement Plan
Other, please specify
__________________________ ________________
sub – total INSURANCE Php
TOTAL ASSETS Php
90
LIABILITIES @ outstanding or unpaid

balance
Bank Loans Php
GSIS Loans
Lending institution's loans
(e.g. Pacubas, Alano & Sons)
Loan Sharks (e.g. officemates, neighbors)
Pag - ibig Loans
Provident Fund Loans
Credit Card/s
Other, please specify
____________________________ Php
Php
TOTAL LIABILITIES
Php
NET WORTH (ASSETS less LIABILITIES)
2.0. Financial Practices of the Respondents
How Financially Smart are You? What is Your Financial I.Q.? Take the test and
Find Out!
Answer the questions with YES or NO by checking the response that best
represents you.
( )Yes ( )No 1. Do you have enough savings to last you 3 – 6 months if, for
some reasons such as illness or loss of job, you have to stop working?
( )Yes ( )No 2. Do you have any form of insurance, for example, accident or
disability, or life insurance besides what is given in your current work / job?
( )Yes ( )No 3. Do you have any form of medical insurance?
( )Yes ( )No 4. Do you have any long – term savings plan such as a pension or
educational plan or endowment plan aside from your contribution to SSS or
GSIS?
( )Yes ( )No 5. Are you saving or investing money regularly from your salary?
( )Yes ( )No 6. Do you know how much you are worth today? Do you have
your own Statement of Assets and Liabilities?
91
( )Yes ( )No 7. Do you budget your spending and monitor your monthly
expenses?
( )Yes ( )No 8. Have you attended any seminar or read any book on improving
your knowledge of personal finance?
( )Yes ( )No 9. Is your monthly debt payment (for consumption purchases or

credit card payments) every month less than or just 20% of your monthly
income?
( )Yes ( )No 10. Do you have a personal plan with specific financial goals based
on specific time table?
Intal, Pinky (2014). Financial IQ. Retrieved from http://www.myfinancemd.com/how-

financially-smart-are-you-what-is-your-financial-i-q-take-the-test-and-find-out/. Retrieved
on December 2014.
1.1.5. Work Performance of the Respondents
Based on your PASSA or TPES, please check the following choices:
( ) Outstanding ( ) Very Satisfactory ( ) Satisfactory ( ) Poor
4.0. Other Issues and Concerns of the Respondents‟ Financial Practices
1. What are your reasons for borrowing money? Please check ALL those that
apply to you.
____Open a business ____House Renovation / Maintenance

____Education ____House and Lot
Life / Pension/ ____Furnitures / Appliances
____Health Insurance Others, please specify_________________
____Car / Vehicle _________________
____Gadgets / Computer Equipment _________________
2. How do you feel about your financial situation today?
____Very Positive ____Quite Positive ____Average

____Not very positive ____Not positive at all
3. How do you expect to change your financial situation to change in the next
three to five years?
____Very Positive ____Quite Positive ____Average

____Not very positive ____Not positive at all
92
4. What is your biggest financial concern when it comes to your family? Please
check ALL those that apply to you.
____Children's Education ____None

____Family's Health Others, please specify _______________
____Paying Utilities _______________
____Saving Money _______________
5. What would you prioritize spending your money in the next two years?
Please check ALL those that apply to you.
____Open a business ____House Renovation / Maintenance

____Education ____House and Lot
Life / Pension/ ____Furnitures / Appliances
____Health Insurance Others, please specify ______________
____Car / Vehicle ______________
____Gadgets / Computer Equipments ______________
6. How do you prepare for anticipated life events? Please check ALL those that
apply to you.
____Bank Savings ____Savings at home

____Put up a business Others, please specify ______________
____Get Life / Pension Insurance ______________
____Investment ______________
7. Many people spend some time at work giving attention to personal and family
challenges. This is often necessary and good. Did you use your work time to
deal with any of the following? Please check ALL those that apply to you.
_____Talked with co - workers about money related matters.

_____Talked with a lender about a loan.
_____Made calls regarding an overdue credit payment.
_____Made calls to friends and/or relatives about financial matters.
_____I never dealt with financial problems at work.
8. In which of the following financial education workshops would you participate,

if available in the future? Please check all of interest.
____Retirement planning
____Budgeting
____College planning ____Insurance planning
____Getting out of a debt ____Buying a home
____Investing Others, please specify _____________
____Estate planning ______________
93
9. Comments and suggestions to help you improve your finances.
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
Questions 2 - 6. Retrieved from http://www.slideshare.net/msliannelaroya/flare-final.

Retrieved on February 2015.
Questions 7 - 8. Retrieved from http://scholar.lib.vt.edu/theses/available/etd-4198-

155242/unrestricted/FRONTM_1.PDF. Retrieved on February 2015.
96
Appendix C
TEACHER‟S PERFORMANCE EVALUATION SYSTEM (TPES)
Name of Teacher: ______ Rating Period:SY: ________

School: ________ 1stSem ( ) 2nd Sem. ( )
PART I : PERFORMANCE Please rate using this rubric:
5 - ALWAYS(practiced /demonstratedindicator all the time)

4 - MOST OF THE TIME( practiced/ demonstrated indicator 75% )
3 - SOMETIMES (50%)
2 - RARELY (25%)
1 - NEVER ( not observed)
Self School
NCBTS Domain 1- SOCIAL REGARD FOR LEARNING (10%) rating Head
Strand 1.1 Teacher’s Actions Demonstrate Value for Learning
Indicators:
1.1.1 Implements school policies and procedures
1.1.2 Demonstrates punctuality and regularity in attendance
1.1.3 Maintains appropriate appearance
1.1.4 Is careful about the effect of one’s behavior on students
Strand 1.2 Demonstrate that Learning is of Different Kinds and from Different Sources
Indicator:
1.2.1 Makes use of various learning experiences and Resources
Domain 1: TOTAL
Weighted Points : Total x .10 =
NCBTS Domain 2- LEARNING ENVIRONMENT (20%)
Strand 2.1 Creates an Environment that Promotes Fairness
Indicators:
2.1.1 Maintains a learning environment of courtesy and respect for different
learners (e.g. ability culture, gender)
2.1.2 Provides gender-fair opportunities for learning
2.1.3 Recognizes that every learner has strengths
Strand 2.2 Makes the Classroom Environment Safe and Conducive to Learning
Indicators:
2.2.1 Maintains a safe and orderly classroom free from distractions
2.2.2 Organizes available space, materials, and/or equipment to facilitate
learning
2.2.3 Arranges challenging activities in a given Physical Environment
2.2.4 Uses individual and cooperative learning activities to improve
capacities of learners for higher learning
97
Self School
rating Head
Strand 2.3 Communicates Higher Learning Expectations to Each Learner
Indicators:
2.3.1 Encourages Learners to Ask Questions
2.3.2 Provides Learners with a Variety of Learning Experiences
2.3.3. Provides Varied Enrichment Activities to Nurture the Desire for Further
Learning
2.3.4 Communicates and Maintains High Standards of Learning Performance
Strand 2.4 Establishes and Maintains Consistent Standards of Learners’ Behavior
Indicators:
2.4.1 Handles behavior problems quickly and with Due respect to Children’s
Rights
2.4.2 Gives timely feedback to reinforce appropriate Learners’ Behavior
2.4.3 Guides individual learners requiring development of appropriate social
and learning behavior
2.4.4 Communicates and enforces school policies and procedures for
appropriate learner behavior
Strand 2.5 Creates a Healthy Psychological Climate for Learning
Indicators:
2.5.1 Encourages free expression of ideas from Learners
2.5.2 Creates stress-free environment
2.5.3 Takes measure to minimize anxiety and fear of the teachers and/or
subject
Domain 2: TOTAL
Weighted Points: (Total x .20)
NCBTS DOMAIN 3- DIVERSITY OF LEARNERS (10%)
Strand 3.1 Determines, Understands & Accepts the Learners’ Diverse Background
Knowledge & Experience
Indicators:
3.1.1 Obtains information on the learning styles, multiple intelligences and
needs of learners
3.1.2 Designs/selects learning experiences suited to different kinds of
learners
3.1.3 Establishes goals that define appropriate Expectations for all learner
3.1.4 Paces lessons appropriate to needs and Difficulties of Learners
3.1.5 Initiates other learning approaches for learners whose needs have not
been met by usual Approaches
3.1.6 Recognizes multi-cultural background of Learners when providing
learning opportunities
3.1.7 Adopts strategies to address needs of Differently-abled learners
3.1.8 Makes appropriate adjustments for learners of different socio-economic
Backgrounds
Domain 3: TOTAL
Weighted Points: (Total x .10 )
98
Self School
rating Head
NCBTS DOMAIN 4- CURRICULUM (30%)
Strand 4.1 Demonstrates Mastery of the Subject
Indicators:
4.1.1 Delivers accurate and updated content knowledge using appropriate
methodologies, approaches and strategies
4.1.2 Integrates language, literacy and quantitative skill development and
values in her/his subject area
4.1.3 Explains learning goals, instructional procedures and content clearly
and accurately to students
4.1.4 Links the current content with past and future lessons
4.1.5 Aligns with lesson objectives the teaching methods, learning activities
and instructional materials or resources appropriate to learners
4.1.6 Creates situations that encourage learners to use high order thinking
skills
4.1.7 Encourages and sustains learners’ interests in the subject by making
content meaningful and relevant to them
4.1.8 Integrates relevant scholarly works and ideas to enrich the lesson as
needed
4.1.9 Integrates content of subject area with other disciplines
Strand 4.2 Communicates Clear Learning Goals for the Lessons that are Appropriate for
Learners
Indicators:
4.2.1 Sets appropriate learning goals
4.2.2 Understands the learning goals
Strand 4.3 Make Good Use of Allotted Instructional Time
Indicators:
4.3.1 Establishes routines and procedures to maximize instructional time
4.3.2 Plans lessons to fit within available instructional time
Strand 4.4 Selects Teaching Methods, Learning Activities and the Instructional
Materials or Resources Appropriate to the Learners and Aligned to Objectives of the
Lesson
Indicators:
4.4.1 Translate learning competencies to Instructional Objectives
4.4.2 Selects, prepares, and utilizes Technology and other instructional
materials appropriate to the learners and the learning objectives
4.4.3 Provides activities and uses material which fit the learners’ learning
styles goals and culture
4.4.4 Uses a variety of teaching approaches and technique appropriate to
the subject matter and the learners
4.4.5 Utilizes information derived from assessment to improve teaching &
learning
4.4.6 Provides activities & uses materials which involve learners in
meaningful learning
99
Self School
rating Head
Strand 4.5 Recognizes General Learning Processes As Well As Unique Processes of
Individual Learners
Indicator:
4.5.1 Designs and utilizes teaching methods that take into account the
learning process
Strand 4.6 Promotes Purposive Study
Indicator:
4.6.1 Cultivates good study habits through appropriate activities
Domain 4: TOTAL
Weighted Rating: Total x .30 =
NCBTS DOMAIN 5: PLANNING, ASSESSING AND REPORTING (10%)
Strand 5.1 Develops and Utilizes Creative and Appropriate Instructional Plan
Indicators:
5.1.1 Shows proofs of instructional planning
5.1.2 Implements instructional plan
5.1.3 Demonstrates ability to cope with varied teaching milieu
Strand 5.2 Develops and Uses A Variety Of Appropriate Assessment Strategies To
Monitor And Evaluate Learning
Indicators:
5.2.1 Prepares formative and summative tests in line with the curriculum
5.2.2 Employs non-traditional assessment techniques (portfolio,
journals,rubric,etc.)
5.2.3 Interprets and uses assessment results to improve teaching and
learning
5.2.4 Identifies teaching-learning difficulties and possible causes and takes
appropriate action to address them
5.2.5 Uses tools for assessing authentic learning
Strand 5.3 Monitors Regularly and Provides Feedback on Learners Understanding of
Content
Indicators:
5.3.1 Provides timely & accurate feedback to learners to encourage them to
reflect & monitor their own learning growth
5.3.2 Keeps accurate records of grades/ Performance levels of learners
Strand 5.4 Communicates Promptly and Clearly to Learners, Parents and Superiors
about Progress of Learners
Indicators:
5.4.1 Conducts regular meetings with learners and parent to report learners’
progress
5.4.2 Involves parents to participate in school activities that promote learning
Domain 5: TOTAL
100
Self School
rating Head
NCBTS DOMAIN 6: COMMUNITY LINKAGES (10%)
Strand 6.1 Establishes Learning Environment That Respond to the Aspiration of The
Community
Indicators:
6.1.1 Uses community resources (human, material) to support learning
6.1.2 Involves community in sharing accountability for learners’
achievement
6.1.3 Uses the community as a laboratory for learning
6.1.4 Participates in community activities that promote learning
6.1.5 Uses community networks to publicize school events and
achievements
6.1.6 Encourages students to apply classroom learning to the community
Domain 6: TOTAL
NCBTS DOMAIN 7: PERSONAL GROWTH AND PROFESSIONAL
DEVELOPMENT (10%)
Strand 7.1 Takes Pride in the Nobility of Teaching As A Profession
Indicators:
7.1.1 Maintains stature and behavior that upholds the dignity of teaching
7.1.2 Allocates time for personal and professional development through
participation in Educational seminars and workshops, reading
educational materials regularly and engaging in Educational
research
7.1.3 Manifests personal qualities like enthusiasm, flexibility and caring
attitude
7.1.4 Articulates and demonstrates one’s personal philosophy of teaching
Strand 7.2 Builds Professional Links with Colleagues to Enrich Teaching Practice
Indicators:
7.2.1 Keeps abreast with recent developments in education
7.2.2 Links with other institutions and organizations for sharing best
practices
Strand 7.3 Reflects on the Extent of the Attainment Of Professional Development
Indicators:
7.3.1 Reflects on the quality of his/her own teaching
7.3.2 Improves teaching performance based on feedback from the
mentor, students, peers, superiors and others
7.3.3 Accepts personal accountability to learners’ achievement and
performance
7.3.4 Uses self-evaluation to recognize and enhance one’s strength
and correct one’s weaknesses.
Domain 7: TOTAL
Weighted Points: Total x .10 =
TOTALWEIGHTED POINTS (Add all the weighted Points)
101
PART II. CRITICAL FACTOR:
Self School
CRITICAL FACTOR Pts.
Rating Head
1. Demonstrates Politeness and
COURTESY
kindness toward pupils/ students/
parents and others in manners of
speech and actions.
2. Integrates concern for
HUMAN
pupils/students, school clientele
RELATIONS
& Supervisors-subordinate relationship
into workstation.
3. Comes to the school/ class on time

PUNCTUALITY
AND
ATTENDANCE 4. Attends meetings, conferences, and
at work to complete assigned Tasks/
responsibilities .
5. Starts action, projects performs
INITIATIVE
assigned tasks without being told and
under minimal supervision.
JUDGEMENT/ 6. Demonstrates ability to develop
DECISION alternative solutions to problems
MAKING 7. Evaluates/ assess and reflects on
feedbacks received
8. Demonstrates stability of
STRESS
performance under pressure or
TOLERANCE
opposition.
9. Stays at his/her station and does not
READINESS
engage in unofficial matters like
FOR SERVICE
chatting, eating, texting, etc while a
client is waiting or watching
GROOMING
10. Presents a neat , proper and
and
presentable appearance and clothing
APPEARANCE
TOTAL :
Weighted Points : (Point score x 30% )

102
SUMMARY OF RATINGS:
Weighted Over - all Over-all

Total Points
Points weighted Points Weight weighted
RATER Part I Part II Part I Part II (Add Part 1 & II) % scores
(100) (100) (70%) (30%)
Superior
Self
Average points Average Points
( at least 3 raters) X2
Pupils/
Students
Peer
Rater
Client
Rater
TOTAL OVER-ALL
Add intervening task (if any)

REMARKS/ Justification
FINAL NUMERICAL RATING

Equivalent Adjectival Rating
We agreed and discussed on the above ratings: Confirmed:
________ _____ ____________________________ __________________________

Name and Signature of Teacher Name and Signature of School Head Name and Signature PSDS
Recommending Approval: Approved:
_____________________________________ _______________________________
Asst. Schools Division Superintendent Schools Division Superintendent
Key to Descriptive Rating:
OUTSTANDING - 86 to 100%
VERY SATISFACTORY - 66 to 85%
SATISFACTORY - 46 to 65%
UNSATISFACTORY - 26 to 45%
POOR - 25 & below
103
Appendix D
PERFORMANCE APPRAISAL SYSTEM FOR SCHOOL ADMINISTRATORS (PASSA)
Name:_____________________________________ Rating Period:_______________

School:________________________________________________________________
District:____________________________________ Region:_____________________
PERFORMANCE INDICATORS REVIEWED

I. OCCUPATIONAL COMPETENCE (70%) SELF
RATING DIV
PSDS
A. Instructional Supervision COM
A.1. Prepares School year instructional supervisory
plan
A.2. Implements the instructional supervisory plan
B. Developmental Implementation of Education
Programs
B.1. Pupil/Student Development
B.1.a. Increased school MPS by 2% over the previous
year
B.1.b. Decreased dropout rate by 2% of maintained for
those who have zero dropout
B.1.c. Increase in participation rate by 2%
B.1.d. Increased survival rate by 2%
B.1.e. Increased retention rate by 2%
B.1.f. Health & Nutrition Programs/Supplementary Diet
B.2. Curriculum Development
B.3. Staff Development
B.3.1. Assesses training needs for teachers
B.3.2. Prepares school-based training design
B.3.3. Conducts In-service Training (INSET)
B.3.4. Provides opportunities for professional/personal
enhancement
C. Administrative Management
C.1. Resource Management
C.1.1. Management of Human Resources
C.1.2. Management of physical facilities
C.1.3. Fiscal Management
C.2. Data Management
C.3. Conflict Management
C.4. Linkage Management
104
REVIEWED
SELF
D. Research RATING DIV
PSDS
COM
E. Performance Assessment
TOTAL Score:
TOTAL Rating [ (Total Score / 21) x 70%]
II. PROFESSIONAL AND PERSONAL
CHARACTERISTICS (20%)
A. Decisiveness
B. Honesty/Integrity
C. Dedication/Commitment
D. Initiative/Resourcefulness
E. Courtesy
F. Human Relations
G. Leadership
H. Stress Tolerance
I. Fairness/Justice
J. Proper Attire/Good Grooming
TOTAL Score:
TOTAL Rating [ ( Total Score/10) x 20%]
REVIEWED
SELF
III. ATTENDANCE AND PUNCTUALITY (30%) RATING DIV
PSDS
COM
1. Punctuality
2. Attendance
TOTAL Score:
TOTAL Rating [ ( Total Score/2 ) x 10% ]
PLUS FACTOR(0.5 each indicator but not exceed 2 points
for the total)
1. Chaired technical committee in the division/regional
level
2. Conducted seminars in the division/regional/national
level
3. Acted as trainer/facilitator in the
division/regional/national level
4. Acquired resources/assistance for the school from other
sources
TOTAL Score:
105
SUMMARY OF RATINGS
I. Occupational Competence (70%)

II. Professional and Personal Characteristics (20%)
III. Attendance and Punctuality (10%)
TOTAL
Plus Factor
Overall Rating
Descriptive Rating
RATEE/CONFORMEE: CONFERRED WITH:
_________________________ ________________________
School In - Charge PSDS
DIVISION REVIEW COMMITTEE
_________________________ ________________________ ________________________

EPS - Science EPS - Guidance EPS - HELE
_________________________ ________________________ ________________________

EPS - English EPS - Math EPS - Social Studies
_________________________ ________________________ ________________________

EPS - Private School EPS - Filipino EPS - PESS & ALS
APPROVED:
______________________________________
Schools Division Superintendent
QUANTIFICATION
8.60 - 10.00 Outstanding (O) 2.60 - 4.59 Unsatisfactory (US)

6.60 - 8.59 Very Satisfactory (VS) 2.59 & below Poor (P)
4.60 - 6.59 Satisfactory (S)
106
CURRICULUM VITAE
107
CURRICULUM VITAE

239 – F. Daclan Pvt. Rd., Punta Princesa, Cebu City
0922 - 8156023
jclarin_jave@yahoo.com
PERSONAL PROFILE
AGE : 35
DATE OF BIRTH : May 9, 1980
PLACE OF BIRTH : Cebu City
SEX : Female
HEIGHT : 5’4”
WEIGHT : 124 lbs
CITIZENSHIP : Filipino
RELIGION : Roman Catholic
CIVIL STATUS : Married
SPOUSE : Vincent S. Clarin, CPA, MBA
PARENTS : Ret. PNP Jesus E. Basco, Jr.
Mary Jane P. Basco

108
EDUCATIONAL BACKGROUND
SY 2015 – 2016 Cebu Technological University

M.J. Cuenco Avenue, Cebu City
Degree: Master in Public Administration
SY 2006 – 2007 Cebu Technological University

M.J. Cuenco Avenue, Cebu City
Degree: Certificate in Professional Education
SY 2000 – 2001 Cebu Institute of Technology - University

(Tertiary) N. Bacalso Ave., Cebu City
Degree: Bachelor of Science in Accountancy
SY 1996 – 1997 University of Southern Philippines

(Secondary) Mabini St., Cebu City
SY 1992 – 1993 Zapatera Elementary School

(Elementary) Sikatuna St., Cebu City
WORK EXPERIENCE
ADMINISTRATIVE ASSISTANT III DEPED – Cebu City Division

(Sr. Bookkeeper) New Imus Rd., Cebu City
January 4, 2012 – present
TREASURY ASSISTANT iZapp Cebu Corporation

Skyrise 2 AsiatownLahug,
Cebu City
Nov. 15, 2010 – Dec. 31, 2011
109
TREASURY OPERATIONS Handumanan Development Corp.
ASSISTANT Osmeña Blvd., Cebu City
Sept. 22, 2008 – Nov. 14, 2010
TEAM LEADER M. Lhuillier Philippines
North Reclamation Area,
Cebu City
Nov. 2, 2007 – Oct. 2, 2008
GENERAL ACCOUNTING STAFF M. LhuillierPhilipines
NRACebu City
Nov. 17, 2006 – Nov. 1, 2007
CONTROL OFFICER Bank of Cebu – Osmeña Blvd. Br
Osmeña Blvd., Cebu City
July 2006 – Sept.1, 2006
PROOF BOOKKEEPER Bank of Cebu – Osmeña Blvd. Br
Osmeña Blvd., Cebu City
June 2005 – July 2006
CASA BOOKKEEPER Bank of Cebu – Tabunok Br.
Tabunok, Talisay City
Nov. 2004 – June 2005

110
CUSTOMER SERVICE RCPI
REPRESENTATIVE D. Jakosalem St., Cebu City
April 5, 2004 – Sept. 22, 2004
GOLF ACCOUNTANT Alta Vista Golf & Country Club
Aznar Road, Pardo, Cebu City
Nov. 2, 2002 – April 12, 2004
TRAININGS AND SEMINARS
INCLUSIVE
TITLE OF SEMINAR VENUE
DATES
Annual Regional Seminar - Workshop
January 11 - 15, DEPED ECOTECH,
on the Preparation of 2015 Year - End
2016 Lahug, Cebu City
Financial and Budgetary Reports
Seminar/Workshop on the Preparation
Allson’s Inn, Gen.
December 7 – and Consolidation of Pre Year - End
Echavez St., Cebu
11, 2015 Financial and Budgetary Reports of the
City
Division of Cebu City
November 25, Seminar on Year - End Adjustment and SM City Tradehall,
2015 Tax Updates NRA, Cebu City
Coordination Meeting All Bookkeepers
October 19, of Division Offices, Schools and Cluster ANC, Banilad, Cebu
2015 Bookkeepers re: Budgetary and City
Financial Issues
and Consolidation of Pre Mid - Year Hotel Fortuna, Cebu
June 1 - 5, 2015
Financial and Budgetary Reports of the City
May 14 - 15, Philippine Government Electronic Mineski Portal,

2015 Procurement System (PHILGEPS) Cebu City
April 15 - 18, GACPA Leaps, Excels and Adheres to SMX Convention

2015 Professional Standards Center, Davao City
111
INCLUSIVE
DATES
January 5 - 9, and Consolidation of Pre Year - End Golden Prince Hotel
2015 Financial and Budgetary Reports of the & Suites, Cebu City
November 18, Employers' Forum on PHILHEALTH Harold's Hotel, Cebu
2014 Policies and Its Updates City
Guidelines Prescribing the Use of
September 19, Modified Formats of the Budget and DEPED ECOTECH,
2014 Financial Accountability Reports Lahug, Cebu City
(BFARS)
June 16 - 20, and Consolidation of Pre Mid - End ANC, Banilad, Cebu
2014 Financial and Budgetary Reports of the City
Enhanced Financial Reporting System DEPED ECOTECH,
May 21, 2014
(eFRS) Lahug, Cebu City
Cebu Parklane
February 28, Seminar on SSS, PHILHEALTH, PAG -
International Hotel,
2014 IBIG, DOLE and BIR Updates
Cebu City
Workshop on the Implementation of
School - Based Payroll Preparation,
February 17 - DEPED ECOTECH,
Unified Account Codes Structures
20, 2014 Lahug, Cebu City
(UACS), and Updates on Budget and
Monitoring Systems (BMS)
Annual Regional Seminar - Workshop
January 13 - 17, DEPED ECOTECH,
on the Preparation of 2013 Year - End
2014 Lahug, Cebu City
Financial and Budgetary Reports
BIR Training Center,
December 17, Seminar on Year - End Adjustment and
Archbishop Reyes
2013 Tax Updates
Ave., Cebu City
December 2 - 6, and Consolidation of Pre Year - End Golden Prince Hotel
2013 Financial and Budgetary Reports of the & Suites, Cebu City
and Consolidation of Pre Mid - End Golden Prince Hotel
June 3 - 7, 2013
Financial and Budgetary Reports of the & Suites, Cebu City
112
INCLUSIVE
DATES
BIR Training Center,
Seminar on Electronic Tax Remittance
March 18, 2013 Archbishop Reyes
Advice (eTRA)
Ave., Cebu City
Training / Workshop on the Roll - out of
February 19 - DEPED ECOTECH,
Online Monthly Report of Disbursement
and Financial Reporting System
13th Annual Regional Seminar -
January 14 - 18, Workshop on the Preparation of 2012 DEPED ECOTECH,
2013 Year - End Financial and Budgetary Lahug, Cebu City
Reports
December 10 - and Consolidation of Pre Year - End ANC, Banilad, Cebu
14, 2012 Financial and Budgetary Reports of the City
Training Workshop on Budget Process,
November 19 - DEPED ECOTECH,
Report Preparation and Personnel
Matters
October 10 - 11, Training/Workshop on the Roll - Out of DEPED ECOTECH,
2012 Budget Monitoring System (BMS) Lahug, Cebu City
Preparation of the 3rd Quarter Budget DEPED ECOTECH,

October 9, 2012
Accountability Reports (BARs) Lahug, Cebu City
September 4 - Laws and Rules on Government COA RO VII, Cebu

7, 2012 Expenditures City
April 12 - 13, Civil Service RO VII,

Values Orientation Workshop
2012 Cebu City

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FINANCIAL PRACTICES AND WORK PERFORMANCE

The Graduate School

CEBU TECHNOLOGICAL UNIVERSITY

Main Campus, R. Palma St., Cebu City

In Partial Fulfillment of the

Requirements for the Degree of

MASTER IN PUBLIC ADMINISTRATION

JACKIE LOU B. CLARIN

This Thesis entitled, “FINANCIAL PRACTICES AND WORK PERFORMANCE OF

THESIS ADVISORY COMMITTEE

ROSEIN A. ANCHETA, DM, Ph.D.

NORMITA A. MEJALA, CPA, DPA WILMA C. GIANGO, Ph. D.

ADORA A. VILLAGANAS, Ph.D. REBECCA DC. MANALASTAS, Ph.D.

RACHEL LUZ V. RICA, Ph.D. ADORACION A. LAWAS, Ed.D.

PERLA N. TENERIFE, Ed. D.

APPROVED by the Committee on ORAL EXAMINATION with a grade of Passed.

ROSEIN A. ANCHETA, DM, Ph.D.

NORMITA A. MEJALA, CPA, DPA WILMA C. GIANGO, Ph.D.

ADORA A. VILLAGANAS, Ph.D. REBECCA DC. MANALASTAS, Ph.D.

RACHEL LUZ V. RICA, Ph.D. ADORACION A. LAWAS, Ed.D.

PERLA N. TENERIFE, Ed.D.

Comprehensive Examination : PASSED

REBECCA DC. MANALASTAS, Ph.D.

FINANCIAL PRACTICES AND WORK PERFORMANCE

Jackie Lou B. Clarin

Normita A. Mejala, CPA, DPA

Keywords: Public Administration, Financial Practices, Descriptive Method,

Program : Master in Public Administration

I would like to express my sincerest gratitude and deepest appreciation for

the following persons who made this thesis possible;

Dr. Rosein A. Ancheta, SUC President and Chairman of the Thesis

Committee, for his consideration and approval of this research;

Dr. Normita N. Mejala, the researcher’s adviser, for her motivation,

patience and advice. Her comments, constructive criticisms, wisdom and

statistical expertise and interpretation of the results presented in this study;

Dr. Rebecca DC. Manalastas, Dr. Wilma C. Giango, Dr. Adora A.

Villaganas and Dr. Adoracion A. Lawas, members of the Thesis Advisory

Committee, for their encouragement, additional inputs, valuable discussions and

output of this thesis;

giving me the consent to conduct this research;

My family, my source of strength and inspiration, words cannot express

Despite my imperfections and during my challenging days, I still managed to

My colleagues and friends, for the encouragement and assistance

who have directly and indirectly helped me.

best days of my life.

my late GRAND PARENTS

my BROTHER, SISTER, AUNTS, UNCLES, COUSINS

Thank you all

To them, this thesis, is humbly dedicated…

CHAPTER 3 SUMMARY, FINDINGS, CONCLUSIONS, AND

CURRICULUM VITAE…………………………………………………………. 106

3 Profile of the Respondents……………………………….………… 30

4 Monthly Net Income from Profession…………………….……..… 33

5 Spouse Monthly Net Income from Profession…………….……… 34

6 Sidelines / Business Income…………………..……..………..…… 35

7 Other Income (savings, amount received from working children) 36

10 Periodic / Occasional Expenses……….……….…...……………… 42

11 Financial Net Worth………………………………..………………… 44

12 Frequencies and Percent Scores of the Financial Fitness Quiz… 46

13 Summary of Table of Financial Practices……………………..…… 49

14 Association Between Financial Practices and

15 Reasons for Borrowing Money……………………………………… 56

16 Financial Situation Today……………………………………………. 57

17 Financial Situation in the Next Three (3) – Five (5) Years……….. 58