Dynamics Of Financial Management Practices Of Teachers: Bases For Theory Development

Abstract

The study utilized grounded theory method of research on the dynamics of financial management practices. This involved the progressive identification and integration of categories of meaning from the lived experiences of teachers in financial management practices and their present economic conditions. The data collection was from six participants of Jaro National High School, Iloilo City for the school year 2018-2019. The school caters basic education from Junior High School to Grade 12 where the researcher and the participants of the study are employed.Sampling size was based from theorizing and not from the data saturation. Methods of analysis were discussed. Results revealed that there are themes generated from the observations and patterns, and are the basis for theory development. Themes generated: Teachers’ Financial Practices, Financial Management, Teachers’ Motivation, Authentic Decision-making, Clear-cut Managing of Budget, Personal Drive, and Financial Instability. Thus, the theory developed is named “Cognizance Theory”..