ABSTRACT
This research paper aimed to assess the financial management seminar initiated by the Graduate School of Saint Joseph Institute of Technology to the pre – wed couples in Butuan City. The quantitative approach was used in the study that involved that involved 252 individuals or 124 couples who participated in the seminar. An evaluation form was designed to gather information on the level of knowledge of the resource speaker and the conduct of the seminar activity. The findings of the study showed that the resource speakers/lectures have “very high” level knowledge on financial management and the seminar was conducted “very satisfactorily”. The mean was the statistical tool used in the analysis of the data.
INTRODUCTION
The Commission on Higher Education Memorandum Order (CMO) No. 46, s. 2012 stipulates that one of the missions of the Philippine Higher Education system is to help improve the quality of human life of Filipinos, respond effectively to changing societal needs and conditions, and provide solutions to problems at the local community, regional and national levels through the Community Extension Service (CES) of the school. With the CES as a core function of higher education institutions, Saint Joseph Institute of Technology (SJIT) adheres to the mandate of extending extension service/outreach programs, hoping the school can help alleviate the current challenge in the community/organization.
The government of Butuan City has a regular program specifically tailored for pre-wed couples to provide them with the necessary tools and knowledge to effectively handle their finances together. Financial education is essential for couples as they merge their lives and finances together as husband and wife. According to Pappas and Wozniak (2017), financial disagreements are a common source of conflict in relationships, and lack of financial literacy can lead to financial stress and strain on the relationship. A financial management seminar helps pre-wed couples develop the skills and knowledge needed to make informed financial decisions and communicate effectively about money matters.
Saint Joseph Institute of Technology, through the Graduate School Department extends the willingness and commitment to be part of the regular program "PRE-MARRIAGE ORIENTATION AND COUNSELING FOR WOULD BE COUPLES" of the City Population Section and offer a sub-lecture/seminar weekly on financial management for would – be - couples where the resource speakers are the faculty of the Graduate School.
Statistics have highlighted the impact of financial issues on relationships. According to the Philippine Statistics Authority (2020), almost 50% of married couples were experiencing financial problems. The American Psychological Association reported in 2023 that 57% of couples cited finances as a major source of stress in their relationships, followed by communication problems (26%) and intimacy issues (16%). Moreover, Sun Life Philippines (2023) cited that 70% Filipinos believed that financial problem was a major source of stress in their relationships compared to 57% globally.
Addressing these gaps and challenges in financial management, it is essential for pre-wed couples to build a strong financial foundation for their future together. By increasing financial literacy, improving communication about money, and providing access to resources and support, couples can navigate the complexities of financial management and work towards achieving their shared financial goals. This assessment sought to evaluate the impact and effectiveness of the financial management seminar in equipping couples with the skills and strategies needed to build a strong financial foundation for their future together. By analyzing the content, delivery, and reception of the seminar, valuable insights can be gained into how well it addresses the unique financial challenges faced by pre-wed couples in Butuan City and assess its overall effectiveness in preparing them for a financially secure and harmonious marriage.
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