International Journal For Multidisciplinary Research

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Developing Finance Strategies: A Narrative on Financial Behavior of a State University Employees

Author(s) Glorina C. Damong
Country Philippines
Abstract Making a regrettable financial decision is a vulnerability even among working professionals. The objective of this study is to unveil their financial behavior and understand the financial strategies of employees. Qualitative research is adopted specifically narrative inquiry. The interview was the instrument used among the ten participants.

The findings revealed that state university employees are motivated to save in anticipation of the future and their spending is dictated by their lifestyle. Auto-deduction of savings from the income to determine the available for spending is seen as a good habit among the employees. Food and education are identified as the topmost spending priorities. Spending regrets occur also among working professionals including online shopping, dining out, and extending loans to family members. Likewise, debt is part of their money management for asset build-up and in response to uncertainties. Inflation causes challenges among employees, along with overspending, and poor budgeting. Through thematic analysis, there were three derived themes as finance strategies: living within means, setting up a support group system, and adopting a healthy lifestyle. This study contributed to the limited literature on the financial behavior of employees which can be used to develop programs to address issues of employees on financial-related matters.
Keywords Financial Behavior, Finance Strategies, Employees
Field Business Administration
Published In Volume 5, Issue 2, March-April 2023
Published On 2023-04-02
Cite This Developing Finance Strategies: A Narrative on Financial Behavior of a State University Employees - Glorina C. Damong - IJFMR Volume 5, Issue 2, March-April 2023. DOI 10.36948/ijfmr.2023.v05i02.2072
DOI https://doi.org/10.36948/ijfmr.2023.v05i02.2072
Short DOI https://doi.org/gr4k6g
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