Saving habits among business faculty

Abstract

The main purpose of the study was to determine the saving habits among business faculty of the University of Mindanao Davao City. The researchers used a self-constructed questionnaire that was validated by experts. The researchers conducted a survey to know if there were significant differences in the level of saving habits among the business faculty of the University of Mindanao when grouped according to respondent‟s profile. The 40 Respondents of the study were the business faculty obtained through convenient purposive sampling. The data were collected and treated statistically using Mean, Frequency and ANOVA to give the significant results. The researchers came up to a conclusion based on the results. The area of emergency fund got the highest overall mean of 4.41. Followed, by the area of retirement with the mean of 4.34. Lastly, in terms of investment that got the lowest mean of 4.18. The researchers came up to a conclusion that based on the result, the emergency fund has the highest level of influence in the saving habits among business faculty of the University of Mindanao Davao which means that emergency fund increases their ability to meet unexpected medical expenditure, helps maintain a high standard of living and improves their ability to support their family in providing timely healthcare. The researchers recommended that based on the result in the area of investment, it is recommended to the Business Faculty that they need to increase their saving habits in terms of investment. To increase their future income, they need to improve their capacity. Moreover, to acquire financial and physical assets investing in enhancing their ability to increase their income in investment.