Financial management practices and well-being among faculty in private universities in Iloilo City

Abstract

This study aimed to determine the financial management practices and well-being among faculty in private universities in Iloilo City. A total of 50 business administration teachers were the participants of the study. Who were classified according to; age, sex, civil status, educational attainment, and teaching experience. This study used descriptive-correlational research design. The study found out that there is a significant relationship between financial management practices and well-being among faculty in private universities in Iloilo City. Overall, the results highlighted that there is a moderate to strong positive relationship between financial management practices and financial well-being, suggesting that more effective financial management practices are associated with better financial well-being among faculty members. Based on the findings and conclusions, the researchers recommended that students must adapt effective financial management practices, as well as seeking out financial education resources, and engaging in practical planning are crucial for improving financial well-being, and future researchers must ensure that their participants are divided equally in the sex demographic so that the result will be more accurate and balanced.