Budgeting practices on low-income earners family of Barangay Caliclic Samal Island

Abstract

This study aims to determine the significant differences in the budgeting of low-income earners families of Barangay Caliclic, Samal Island, when categorized according to their demographic profile. Mean, T-test, Analysis of variance (ANOVA), and frequency and percentage were utilized as statistical tools for this research. This study used a quantitative-descriptive design to determine the budgeting of 235 low-income earners in the family of Barangay Caliclic, Samal Island. Based on the result of the research, low-income families demonstrate a moderate level of budgeting practices, reflecting their awareness and understanding of the value of budgeting yet inconsistent implementation of these practices. In addition, there is a significant difference in gender and source of income in the budgeting practices of the low-income earners in barangay Caliclic, Samal island. There is no significant differences when analyzing the respondents' educational attainment. The researchers came up with some recommendations based on the research outcome; one is that community-based programs in partnership with the local government or private entities empower low-income families in Barangay Caliclic to be more consistent and effective budgeting practices.