Exploring The Financial Journeys Among Parents and Teachers in University of Bohol Adopted Communities
DOI:
https://doi.org/10.15631/ubmrj.v13i1.233Keywords:
Financial Literacy, Financial Management Practices, Community Extension Services, Qualitative, Philippines, AsiaAbstract
Financial literacy and management profoundly impact individuals' economic prosperity and general welfare. However, the personal experience underlying financial literacy and management practices has been inadequately investigated, especially among parents and teachers in community environments. This qualitative study, Exploring the Financial Journeys Among Parents and Teachers in University of Bohol Adopted Communities, investigates the role of financial literacy and financial management practices in shaping the lives of teachers and parents within these communities. This study explores how individuals perceive the significance of financial literacy, techniques to boost their monetary knowledge, and the impediment to economic security, particularly for parents juggling several dependents with restricted budgets and teachers balancing private finances with professional duties. This study identifies key strategies participants use to increase their financial literacy through targeted group conversations, including joining savings organizations and looking for additional income. There are still issues, though, such as low income, dependency on loans, and restricted or limited access to financial education. The study also reveals how institutions like the University of Bohol can make a substantial contribution to the development of financial literacy by designing programs, seminars, or training that are specifically targeted to fulfill the needs of the community, offering a supportive financial ecosystem, encouraging community-based financial efforts, and offering easily accessible, valuable programs are some suggestions for advancing financial literacy.
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References
Ajzen, I. (1985). From Intentions to Actions: A Theory of Planned Behavior. In J. Kuhl & J. Beckmann (Eds.), Action Control (pp. 11-39). Springer, Berlin, Heidelberg. https://bit.ly/4hDvzv7
Africa, M. G. (2023, September 26). The vital role of parents in instilling financial literacy in children. https://surl.li/tskcuf
Jarvis Bleazard, Emilynn (2022). “Financial Literacy: From Parent to Child,” Family Perspectives: Vol. 3: Iss. 1, Article 2. https://tinyurl.com/3yn4ayhr
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Copyright (c) 2025 Jerome M. Magallen, Jelinda R. Fortich, Jasmin J. Jamero
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