Money management of household heads in Samal District, Island Garden City of Samal

Abstract

The research was conducted in the year of 2020-2021 to find out the difference of money management between household heads in Samal District. The study engaged a quantitative research method where an adapted questionnaire fit to specifically target the apprehension of the 206 households' participants using five-point Likert scaling. The outcome discloses the difference of the money management of household heads in Samal District. It also included the financial attitude and behavior of the respondent. The statistical tools are T-test, Mean, and ANOVA. The study composed of financial indicators which are spending, budgeting, savings, accessing financial services, sex, educational attainment, have a significant difference in money management. In spite that, educational attainment is the only indicator that has significant difference. While sex has no significant difference in financial behavior. According to the result of the hypothesis is accepted which indicate most of the household of Samal district was not knowledgeable enough and practiced in engaging money management behavior. This research suggests that Local Government Unit (LGU) to facilitate the beginning of the household individuals to partake seminars and livelihood programs to progressively greater their wisdom about financial management.