Saving behavior and financial well-being among public employees in IGACOS

Abstract

This study aimed to determine the significant relationship between saving behavior and financial well-being among public employees in IGACOS. This study used a quantitative descriptive correlational approach as research design. Two hundred fifty employees were determined using random sampling who responded to the surveys. Pearson product-moment correlation and mean were used as statistical tools. Findings revealed that the Saving Behavior of the employees in IGACOS is highly evident. Also, the Financial Well Being is evident. The study found no significant relationship between saving behavior and financial well-being among employees in IGACOS. The lack of significant impact from saving behavior on financial well-being suggests that other factors like income, debt, and unforeseen expenses play a more substantial role, and there is a need for comprehensive strategies beyond solely promoting saving habits. Practical recommendations are presented in this study, such as implementing financial literacy programs, offering personalized financial planning services, and addressing factors like income stability and debt management to enhance the financial well-being of employees.