Financial freedom of Filipinos in personal finance management

This study investigates the financial freedom of Filipinos through the lens of personal finance management, focusing on cash management, debt management, risk management, and wealth management. Utilizing data from 150 respondents across ten prominent corporations listed on the Philippine Stock Exchange Index, the research adopts a descriptive methodology and linear regression analysis to evaluate the impact of these financial dimensions on achieving financial independence. Findings reveal pervasive financial literacy challenges among Filipinos, rooted in cultural tendencies like the “come-what-may” attitude and a reliance on traditional saving methods. These behaviors often hinder effective budgeting, savings, and investment practices, resulting in low levels of emergency fund preparedness and high debt reliance. The study highlights the role of structured financial planning in enhancing wealth accumulation and mitigating financial stress, advocating for the adoption of comprehensive strategies that align with individual goals and risk tolerance. Furthermore, the research underscores the critical need for tailored financial education programs to foster a culture of financial discipline, particularly among working parents and young professionals. By addressing gaps in financial literacy and promoting awareness of modern financial instruments, the study aims to empower individuals to achieve sustainable financial well-being. This thesis contributes to the discourse on personal finance in the Philippines, offering actionable insights for policymakers, educators, and individuals. It emphasizes the transformative potential of financial literacy as a catalyst for economic stability and growth within households and the broader community.