• Track Your Paper
  • Submit Now
  • Join Us

ISSN: 2456-7620

Consequences of Borrowing Money from Lending Institutions in Relation to Job Performance

Consequences of Borrowing Money from Lending Institutions in Relation to Job Performance ( Vol-2,Issue-5,September - October 2017 )

Author: Michelle M. Zaragoza, Rose A. Arceño

Keyword: Consequences of Borrowing Money, DepEd Teachers, Job Performance, Lending Institutions, Philippines.

Abstract: There are identified positive consequences in borrowing money. The teachers were able to support their education as well as their family members’ needs. They maintained their total well-being without being affected by financial problems. Borrowing money solves the day-to-day problems of teachers. As manifested by the teachers, their lifestyle improved in such a way that they surpassed the daily difficulties, not minding the negative consequences like decreased net pay, generated more debt, experienced difficulty in coping with monthly loan payments, and financial instability. Furthermore, it was found out that there is a significant relationship between teacher’s profile and the reasons of borrowing money, a significant relationship between the profile of teachers and the consequences of borrowing money; and a significant relationship between the consequences of borrowing money from lending institutions to the public elementary school teachers’ job performance. The main contribution of the study is to improve the financial literacy by integrating the proposed guidelines in financial decisions. Among these items are set up a budget, getting the budget back on track, get everyone in the family involved, cutting household bills and mortgage, be flexible, paying off loans and credit cards, and set a savings goal.


[1] Ajzen, I. (1985). From Intentions to Actions.: A Theory of Planned Behavior.
[2] Ajzen, I. (1991). The Theory of Planned Behavior: Organizational Behavior and Human Decisions Processes, 50, 170-211.
[3] Ajzen, I. (2002). Construction of a theory of planned behavior questionnaire: Conceptual and methodological considerations. Retrieved from http://people.umass.edu/aizen/pdf/tpb.measurement.pdf
[4] Ajzen, I. (2008). The theory of planned behavior: Frequently asked questions.
Retrieved May 5, 2012, from University of Massachusetts, Icek Ajzen Faculty Website: http://www.people.umass.edu/aizen/faq.html
[5] Arcangel, X. (2014). Bill seeks to increase public school teachers’ salary from P18k to P36k. Retrieved July 13, 2015, from http://www.gmanetwork.com/news/story/358843/news/nation/bill-seeks-to-increase-public-school-teachers-salary-from-p18k-to-p36k
[6] Armitage, C. J., & Conner, M. (2001). Efficacy of the theory of planned behavior: a meta-analytic review. British Journal of Social Psychology, 40, 471-499.
[7] Bacani, L. (2014). CHED lists in-demand, priority college courses until 2018. Philstar.com. Retrieved July 13, 2015 from http://www.philstar.com/campus/2014/05/26/1307196/ched-lists-demand-priority-college-courses-until-2018
[8] DeMerceau, J. (2015). Advantages & Disadvantages of Bank Loans. Houston
[9] Chronicles. Retrieved June 2015, from http://smallbusiness.chron.com/advantages-amp-disadvantages-bank-loans-47377.html
[10] eCompare Mo, Retrieved January 8, 2017, from https://www.ecomparemo.com/info
[11] Fishbein, M. (2005). The influence of attitudes on behavior. In D. Albarracín, B. T. Johnson, & M. P. Zanna (Eds.), The handbook of attitudes (pp. 173-221).
[12] Kraft, Rise, Sutton, & Roysamb, ( 2005). Meta-Analysis of the Reasoned Action Approach (RAA) to Understanding Health Behaviors Focusing on Comparing the Pairs of RAA
[13] Maslow, A. H. (1943). A Theory of Human Motivation. Psychological Review, 50(4), 370-96. Subcomponents and Differences Between Health Protection and Health-risk Behaviors. Retrieved from https://link.springer.com/article/10.1007/s12160-016-9798-4.
[14] Republic Act No. 9474, also known as the “Lending Company Regulation Act of 2007.

ijeab doi crossrefDOI: 10.24001/ijels.2.5.20

Total View: 154 Downloads: 9 Page No: 160-172