Author: Dianne Gallema – Domingo

Abstract: Financial stress is one of the challenges that everyone would like to win because prevailing over it results in a more peaceful life. Filipinos are renowned for their resilience in the face of adversity, as we can still smile despite all of life's challenges. Everyone has been touched spiritually, emotionally, physically, and financially due to this massive pandemic, and the war against it appears endless. Since day one, financial stability has been the number one concern, which is why the government has attempted to increase the people's demands. This quantitative and qualitative study examined the financial management system that these employees implemented to combat fatal infections. More than three hundred twenty-four randomly selected respondents completed the structured questionnaire, were interviewed, and provided photographic documentation for data collection. The majority of employees' budgets and savings were moderately affected, according to the research. It was also determined that there were no statistically significant differences between the effects of the pandemic and employment status, wage range, source of money, and purchasing techniques. In addition, the staff engaged in gardening, farming, earning a living, and accepting part-time activities such as pedicure manicures, artificial insemination of large animals, and tutorials, with a strong emphasis on online selling. However, additional interviews revealed that most needed to be financially prepared for the lockdown, as mentioned above. They resulted in additional borrowings because most were financially unstable and spent more than they had saved. Therefore, it is suggested that an extended program on proper financial management be considered to address the preparedness of this personnel for future crises. In addition, a lesson has been learned through the lengthy absence, which is to spend more time with family and friends because we never know what the next day will bring.

Keywords: Financial Management, Financial Resiliency,Covid-19 Effect.

Article Info: Received: 19 Nov 2022; Received in revised form: 18 Dec 2022; Accepted: 26 Dec 2022; Available online: 31 Dec 2022

DOI: 10.22161/ijels.76.50