Ariola, Arianne Camil I.; Danao, Jenessa E.; Galvez, Krisitne C.; Lagamson, Rofela F.; Pilapil, Paula Andrea B.; Versoza, Jochelle L.
The correlation of financial situation and budgeting practices: Basis for personal finance program
- Business Research: (BSBA major in Financial Management) - Pamantasan ng Lungsod ng Maynila, 2025
ABSTRACT: This study investigates the correlation between financial situation and budgeting practices among working adults aged 35 and above in Manila. The purpose of the study is to understand the relationship between financial situation and budgeting practices and to use these insights as the basis for developing a practical personal finance program. As individuals in middle to later adulthood often face significant financial responsibilities such as supporting families, managing healthcare expenses, and preparing for retirement, it becomes increasingly important to explore the relationship between their financial stability and how effectively they manage their finances. A quantitative research design was employed in this study. Data was gathered through structured survey questionnaires distributed to a sample of adults aged 35 and above in Manila. The survey focused on two main variables: financial situation and budgeting practices. Correlational statistical analysis was used to interpret the data and identify the strength and direction of the relationship between these variables. Findings indicate a low positive correlation between financial situation and budgeting practices. Adults with more stable financial conditions tend to practice more effective budgeting habits, including consistent planning, saving, and prioritization of essential expenses. Theoretically, it supports the life-cycle theory that emphasizes the role of financial capacity in enabling disciplined financial practices. This study is significant in its originally, as it addresses a specific age group and local context. Its findings can guide the development of targeted personal finance programs aimed at improving financial literacy and promoting financial resilience among adults aged 35 and above in Manila