Spending Behavior of Non-Teaching Personnel in Private Higher Educational Institutions in Albay Province

Abstract

Spending behavior is disbursing money in response to an action, an environment, or a person to satisfy needs and wants. Employees provide their services in exchange for payment, which may take the form of wages or salary. The aim of this study was to determine the spending behavior of non-teaching personnel in private higher educational institutions in Albay and how they are going to improve their spending behavior. This study used mixed methods, qualitative and quantitative research designs, and utilizing a survey questionnaire which has three parts, to gather the necessary data and information needed for this study. Using the statistical tool frequency count and percentage distribution, Likert scale, and ranking. The analyzed data revealed that the respondents "often" spend on their necessities and "seldom" when it comes to their leisure. However, there are problems encountered by the respondents along with their spending practices that resulted in not having a budget plan. Employees should always keep track of their expenses to ensure proper spending. As a result, they will become more aware of their finances, which will make it easier for them to alter their spending habits by being able to track where their money is going. Employees should be aware of the significance of their financial decisions. They will have a better chance of being financially secure if they have the right knowledge in handling finances.