Budgeting behavior of overseas Filipino worker families in cities of Cavite / by Jessamine L. Del Rosario, Ella Mae S. Sermonia, and Aya Hempiso

Thesis (Bachelor of Science in Business Management Major in Financial Management) Cavite State University.

Includes bibliographical references.

College of Economics, Management and Developmental Studies (CEMDS)

DEL ROSARIO, JESSAMINE L., HEMPISO, AYA and SERMONIA, ELLEN MAE S. Budgeting Behavior of Overseas Filipino Worker Families in Cities of Cavite. Undergraduate Thesis. Bachelor of Science in Business Management major in Financial Management. Cavite State University, Indang, Cavite. May 2017. Adviser: Prof. Cecilia T. Cayao.
The study was conducted to determine the budgeting behavior of overseas Filipino worker families in cities of Cavite. Specifically, the study aimed to: determine the socio-demographic profile of the head of the household of overseas Filipino worker families; determine the socio-demographic profile of the OFW; determine the monthly remittance as a percentage of salary of OFW; determine the budgeting behavior of heads of the households of OFW families in terms of saving habits; determine the budgeting behavior of heads of the households of OFW families in terms of spending habits; determine the relationship between the socio-demographic profile of the participants and the monthly remittance as a percentage of salary of OFW; determine the relationship between the socio-demographic profile of the participants and their budgeting behavior; and determine the relationship between the monthly remittance as a percentage of salary of OFW and their budgeting behavior. The study was conducted in the province of Cavite.
The participants of the study were 200 heads of the household of overseas Filipino worker families in the cities of Cavite. Questionnaire was used to gather data from the participants. Frequency, percentage, mean and range were used to describe the socio-demographic profile of the participants. Five-point liker scale was also used to determine the budgeting behavior of the participants in terms of their saving and spending habits. Thirty six percent of the participants were from ages 21 to 30, 47 percent of the participants were college graduates and 51 percent of the participants have two to three dependents within their household. Fifty-five percent of the participants stated that their other sources of income come from other working family members. OFWs had been working for three to seven years covered 47 percent of the participants and 40 percent were working in the Middle East countries. Spearman rank results revealed a significant relationship between the monthly remittance as a percentage of salary of OFW and the number of dependents and number of years working abroad having p-values of 0.006 and 0.000, respectively. This implied that an increase in the number of dependents would mean an increase in the monthly remittance as a percentage of salary of OFW because additional expenses would be incurred by having additional dependents. The result also revealed that longer years working abroad would also result to an increase in remittance due to increasing prices which would also increase the expenses of the OFW families and ending up for the OFWs to increase the remittances that they send. Also, the number of years working abroad showed a significant relationship with the saving habits with a p-value of 0.001. Moreover, the budgeting behavior in terms of saving habits was significantly related with the monthly remittance as a percentage of salary of OFW since the p-value was 0.020 and a Spearman rank correlation coefficient of -0.164 which indicated that an increase in the monthly remittance as a percentage of salary of OFW would have a negative effect on the saving habits. because an increase in the percentage of monthly remittance would mean additional money for the OFW families to spent on other expenses rather than saving it.

Submitted to the University Library August 20, 2018 T-7517