Financial Management Mechanisms of Tabuk City Local Government Unit Employees amidst COVID 19

— 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.


Background of the Study
Financial Management has become an integral aspect of everyone's standard of living nowadays.Today, the questions of where to acquire, where to invest, and where to spend are so prevalent.How much more difficult is it to answer the question "what will we have for dinner?" when you have little or no money left in your pocket?The routines and singleness of all employees, not just mothers and fathers, cannot be used as an excuse.It forces males to delegate responsibilities to their wives by handing women the budget.It is advantageous if you have additional sources of income, but what if your only source of subsistence is from your employer?This makes the issue even more difficult.If this is true for the permanently employed, what about the unemployed?
One of the stressors that many people face today is an economic challenge.People with financial hardships usually worry every time ends meet.Those due dates could be alarming; worse, being unable to provide for and support their family is depressing.This setting is already a day-to-day routine, meaning it becomes an ordinary situation.However, the unforeseen influx of Corona Virus, commonly known as Covid 19, since the outburst started in China, made it more complicated than usual.The average pace of life becomes the least we expect.It IJELS-2022, 7(6), (ISSN: 2456-7620) https://dx.doi.org/10.22161/ijels.76.50 434 becomes a burden concerning the budgetary requirement that we have.As we all know, survival with a challenge takes a lot of work.Thus, this made the government consider locking down the mainstream for quite some time until the virus is evitable.However, until now, the mortality rate has been tremendously increasing.The number of active-positive patients seems to no end even though the most far-flung areas have already been infected with the said virus.Although there are survivors of the said illness, antidotes and vaccines have not arrived yet.It makes the situation more complicated.
Consequently, the resiliency of every Filipino has been an issue since day one.The sudden change in life became more intriguing; thus, even the keyboard war increased, putting the government in the hot seat.The latter becomes trouble for everyone, and these issues even made the pandemic worse.Meanwhile, every individual's doubt in coping with the new normal becomes vaguer, while the government leaders' capability into a huge question mark.
However, economic challenges and financial stress may open the door to positive outcomes.It may result in positive changes because innate in every Filipino is flexible and challenging life.It is a good manifestation that we will overcome this pandemic.Hence, this draws the conception of this study.How does this COVID-19 affect the financial management of CLGU employees?What mechanisms did they adopt to cope with the financial crisis they experienced?It may also consider accepting new opportunities like finding greener Pasteur jobs or improving one's ability to manage their finances.

II. CONCEPTUAL FRAMEWORK
This study is based on the concept that part of the daily existence of people.The pandemic has caused financial difficulties to everybody.Employment rates went very low, while prices of commodities have gone very high.
People are constraint from doing other jobs due to lockdown as a consequence of the widespread of the virus.
The above situation pushed the researcher to study how the employees of the CLGU of Tabuk managed their financial situation during the pandemic.Many employees are on job order, on casual status, thus receiving meager salaries.They, however, hold to their employment, but how do they remedy the other funds they need to sustain themselves and their families?
Other employees of other institutions can adopt the strategies or approaches they employ to manage their finances.Although we are all resilient as a people, balancing our health and economic condition is difficult.
The CLGU employee's situation then challenged the researcher to conduct this study.
According to PrachiJuneja, "Budgetary Administration implies arranging, organizing, coordinating and controlling the budgetary exercises such as acquirement and utilization of reserves of the venture.It means applying common administration standards to the financial assets of the endeavor.He also added that financial management is generally concerned with procurement, allocation, and control of financial resources.Thus, ensuring a regular and adequate supply of funds and optimum utilization is the direct concern of financial management.Once funds are obtained, employees should utilize them in the maximum possible way at the least cost.
According to Towanda Mitchell, "financial management is responsibly handling our financial situationby achieving financial independence.Financial management refers to proper managing of finances, and it also includes financial management and organization management (ThulasimaniMunohsamy, 2015).Personal financial management helps us manage our home's finance, including budgeting, saving, investing, debt management, and other aspects related to private money in achieving personal target (Bimal Bhatt, 2011).In short, personal finance is having a detailed financial plan.Having a strong track of the cash flows, to safeguard finances (Joseph Wilner, 2009)." Financial management always depends on whoever the concern is.The financial planning of those who have more compared to those who have less is very conventional.Those who have adequate funds need to ensure safety regarding their investment, like investing it in safe ventures so that an ample return rate is achieved, while those who do not have enough or do not have extra will find ways to cover up their needs.Thus, financial planning will always be as complicated as it seems.Especially when you are receiving just enough for your day-to-day living, the question will be, what if an emergency arises?What will be the fastest way to overcome this problem that they will be facing.The saying goes, "Habang Maikliangkumot Matutongmamaluktot," which shows every Filipino's resilience during a crisis.However, it will always drawback on a case-to-case basis.What is enough for someone may not be enough for you vis a vis.This study's main objective will determine CLGU employees' experience, specifically on their financial resiliency during the outburst of COVID -19, hence, developed secondary purposes to achieve the aim of this study:

Objectives of the Study
• To determine the profile of the CLGU employees as to employment status; salary; buying methods, and source of income; • to determine the level of effect of the pandemic as to the amount of budget and savings incurred by the CLGU employees; 3.1 to determine if there is a significant difference as to the level of effect of pandemic along with employment status, source of income, and buying methods; • to determine the best practices of the employees during the pandemic;

Significance of the Study
This study measured the financial management experience and the CLGU employees' mechanism in coping with economic distress during the pandemic, specifically during the lockdown.It measured every employees' financial flexibility in facing the new normal caused by COVID 19 outbreak.This study helped every individual and the government be more ready if challenges may arise again.Thus, this is eye-opening to everyone that gaining financial literacy and personal financial management is an edge in fighting against any crisis that will come.This study could also be a basis for policy formulation of the CLGU for its employee's financial resiliency and a basis for college extension programs.

Scope and Delimitation of the Study
This study was conducted at Tabuk City, specifically at Tabuk City Local Government Unit.Respondents will be randomly selected among the CLGU employees.

Financial Management
Definition of financial management is all over the web; according to Collins Dictionary of Business, 3 rd ed., (2002,2005), financial management refers to the practice of obtaining funds to finance a firm and advising on the proper allocation of these resources it involves analyzing the flow of funds.Guthman and Dougal also cited that Managing finance is the activity concerned with planning, raising, controlling, and administering funds used in the business.Experts believe that financial management is about acquiring funds needed by a company or any individual on the most favorable terms, keeping its objectives in mind.Therefore, this method mainly concerns the procurement of funds that may include instruments, institutions, and practices to increase funds.about business operations, profit, banks, and the likes; it is taken synonymously with budgeting.Finance is always associated with cash, so does business operations, as its' primary objective is to promote profit maximization.Hence, appropriate financial management is then the backbone of every business.

Personal Finance
In his lecture note on Personal Finance, Dr. Douglas Hawks quoted that financial stress is one of the highest for some lifestyle polls sources of anxiety and tension for Americans.Financial management is relevant to finding money to pay for bills in some instances.Reacting to financial situations is never as valuable as proactively planning for financial needs and emergencies.But before you can prepare for economic changes, you will need to become familiar with some basic concepts, including assets, liabilities, cash flow, and net worth.
In a short course at Duke University entitled Personal Finance, stated that Einstein called compound interest the "eight wonders of the world"; while on the other hand, Warren Buffett advised: "do not save what is left after spending; instead, spend what is left after saving"; and Barack Obama noted that: "A budget is more than just a series of numbers on a page; it is an embodiment of our values."

Financial Stress
According to Davis, C., and Mantler, J. defines financial stress is the "unpleasant feeling that one cannot afford the necessities, and have insufficient funds to finance dues.This can cause emotions of dread, anxiety, and fear but may also include anger and frustration.Hence, financial stress is a subjective feeling, which may or may not base on an objective basis of one's financial situation.The economic struggle may be due the loss of a job, unexpected medical or legal expenses, chronic overspending, investment losses, or gambling.This hardship can be because of the improper management of finances or spending behavior.
Young adults were surveyed by the Jumpstart Coalition for Personal Financial Literacy, that administered a survey with personal finance knowledge to 1509 high school seniors across the country (Jumpstart, 1998).The survey have found out that high school seniors' are aware of the use of credit, also on the matter of saving and investing, budgeting, taxes, insurance, inflation, and retirement issues.The test average a score of 57.3%, with only 10% of the seniors 15 getting a C or better, this indicates that young adults who are graduates from high school has little knowledge on personal finance.hence, there was a relationship between not knowing about personal finances and financial problems, such as being targets of investment fraud, like delinquent on paying their credit cards, and so with bankruptcy (Jump$tart, 1998).the survey results also showed that the states with a greater population of adults declare personal bankruptcy majority have 12th graders scored poorly when tested on individual finance subjects.
In a study entitled "Crisis Management for Small Business during the COVID-19 Outbreak: Survival, Resilience and Renewal Strategies of Firms in Macau" by ALVES, Jose C et., al. Stated that "Small businesses are vulnerable to crisis.However, there is little knowledge about how they cope during a prolonged crisis as the COVID-19 pandemic.We collected interview data from six small local firms.We found that a sudden decline in demand has the strongest impact on small firms.There is a high expectation with large companies to easily cope up with crisis compared with small enterprises.Other common survival strategies include increased product diversification, exploration of new markets, and increased learning.These firms tend to have a longer history, experience dealing with a crisis, and operate in more regulated sectors.Based on these results, we dene ve types of renewal and survival strategies for small businesses and propose an SME crisis resilience model'.
Lifted from a study, the recession have greatly effects as observed with the global pandemic which started in March 2020, this had caused with the spread of the COVID-19, this made a severe damage than that of the great recession (Baker et al. 2019; Federal Reserve Bank of New York2019; Hamilton and Darity2017).Without solid and aggressive government intervention, families are likely to be entirely financially devastated.It will take years for us to fully overcome if not fully immuned with the pandemic effect; however, early reports of families' lived experiences are already revealing their immediate financial devastation.While the lessons still gleaned from the Great Recession can inform current and ongoing responses to the Pandemic Recession, much more extensive and will need grassrootsfocused policy responses to stabilize and shore up families' financial well-being (Friedline et al., 2020) Households that have credit were more likely to use payday loans than those without credit constraints.The used of salary loans was a significant predictor before the Great Recession.Still, the effect was more significant in the aftermath of the crisis.More of the households used salary loans to pay other bills/loans (Lee and Kim (2018)).Women spent more time on home production activities, nonchild care, and childcare and earned lower wages than men.The housing price index had a positive relationship with the time we spent on inhouse activities.showed that shattered the record for the newestunemployment claims filed in a single week.Suddenly, it was later found out that there are more jobless Americans than during the Great Recession or in the aftermath of major natural disasters such as hurricanes, wildfires, and floods" (Dhore, 2020).
In Addition, financial and physical wellness are intertwined.the Financial stress however was aggravated by COVID-19.According to studyby global health and wealth consultants Mercer, employees' worries about money cost employers an estimated $250 billion per year.
The effect of the crisis on the financial stability and literacy of every individual doubled tremendous stress.Considering that financial freedom implies a less stressful life, people's financial management mechanism significantly affects every individual's life during economic crisis.Thus, resiliency in all means differs depending on the management of their lifestyles.

Definition of Terms
Financial Management.This refers to the proper management of income accumulated and properly allocating it based on prioritization.
Financial Mechanism.This refers to the ways and means that employees utilize to acquire additional funds to finance expenses.
Budget.This pertains to the amount of funds being allocated proportionately according to priority.
Savings.This is the part of income being set aside either for emergency use or for investment.
Resiliency.This concerns the ability of every individual to overcome challenges.

IV. METHODOLOGY
This study used a mixed approach, quantitative approach, and qualitative approach.A quantitative process is highly formalized, controlled, and has a precisely defined range (Segoale, 2001:19).The concept is to measure data.This study used structured questionnaires to gather quantifiable data, analyzed statistically to produce quantified results.
The study also used a qualitative approach since it relies on first-hand observation, interviews, and the likes.Such that, this study conducted an online interview.

The locale of the study
The City of Tabuk is the center of the business industry in the province of Kalinga.The lockdown hinders the convenience of living in the city since the supply of the people's immediate needs.CLGU employees were not exempted in this kind of life-changing scenario.Subsequently, this was conducted at the Tabuk City Local Government Unit, Tabuk City, Kalinga.A total number of 1,695 employees, of which 752 are permanent; 147 casual, and a total of 776 job orders Using the Slovin's Formula with a confidence level of 95 and margin of error of 5, derived 314 total target respondents.

Research Design
Research is s a systematic and objective collection, analysis, and interpretation of data to address the research

Data Gathering
Data collection in descriptive surveys was done through a mailed questionnaire.Before the survey questionnaire was floated, sent a request letter asking for permission to conduct the survey thru the City Mayor being the Head of the unit explaining the study's objectives and importance.Furthermore, to fully validate some questions, I also interviewed the employees.

Data Analysis
The data was analyzed using Descriptive statistics.The results were generated by frequency distribution and then used the following descriptive statistics techniques to obtain the results: the effect of the pandemic.The usage of the above criteria resulted in the calculation of the mean, and Annova and T-test interpreted the results.It was critical to ensure that the data were reliable and valid to be considered accurate (Du Plessis, 2004:92).
In interpreting the data that was obtained from the survey and recorded responses from the interviews, used the following statistical tools: (1) Frequency.A tabular presentation presents the number of respondents in the statistical survey falling within a single class of specified factors, indicators, or characteristics. (2) Percentage.It is used to analyze the profile of the respondents concerning the selected variables.
(3) Weighted Mean.It will determine the degree of perception of the graduaterespondents in their educational background's usefulness and relevance to their employment status. (4) Ranking.It is used to arrange in a series of ascending or descending orders of importance. (5) To assess the employee's degree of financial experience during the pandemic, along with the indicators, I used the Five-Point Likert Scale with the equivalent descriptive rating.Consequently, this coincides with their responses regarding how they buy their needs and desires, revealing that 56.48 percent obtain their needs and desires using cash, whereas 43.52 percent, or 141 individuals, acquire products or services using either cash or credit.Since most respondents replied both cash and credit receive higher pay, this demonstrates that neither permanence nor high salary guarantees a life without debt.Moreover, it proves that when one receives an increase in their salary, it goes with their lifestyle.This point of view matches with "higher pay makes the higher cost of living," this is somehow proved by the so called "lifestyle inflation," which means consumers spend more money once they receive an increase in their pay when one receive higher pay the needs and wants also grows the same (Morgan, E., 2020).

Limits
A supplementary source of income serves as a hedge against unforeseen events that could lead to unrest.Thus, a secondary source of income ensures a steady flow of funds, helping to offset the circumstances that contribute to a fluctuating income supply.Rapidly increase your retirement savings.Unfortunately, despite employees' increasing needs and desires as a result of lifestyle inflation, only 25.31% reported having extra income due to investing in income-generating ventures.This indicates that only some employees have proactive financial goals, as most rely solely on their salary, and some receive allotments.This feedback manifest that some are not yet financially independent and were not yet financially prepared.Based on the different indicators, it reflected that leisure got the highest mean of 2.94.It only shows that their budget with leisure was moderately affected.According to the respondents during my interview, the lockdown lessened their leisure activities.After all, pandemic hinders mobility; instead of going out to enjoy, they stay at home with their loved ones; this goes with education having a mean of 2.69.Accordingly, the daily allowances were cut off and resorted to the internet connection, which is conferring to the respondents it had reduced their expenses as to this aspect.
In contrast to these aspects, house maintenance and food got the two lowest mean, which signifies that their budget under this two aspects was negatively affected.The result may be because of the pandemic impact on both demand and supply of commodities, which directly affects the shutdowns and disruptions to supply chains.Such effects have already been dramatic, particularly the mobility of the commodities (The World Bank April 2020).
Hence, savingswas moderately affected.According to the interview, during the pandemic, mobility was immensely impacted, which resulted in a passably reduction of their savings.The above tables indicate that the pandemic has no significant difference along the different variables identified, along with employment status, source of income salary range and methods of buying.It only proves that the pandemic did not make any difference as to its effect on the amount of budget and savings among the CLGU employees.This was proven during my interview with them, accordingly, even though the Covid-19 have a tremendous effect towards the financial resiliency of the people, their characteristic being adaptable to sudden change did not rattled, as Filipinos are known to be tough we do recover quickly.Our tolerance towards difficulties is high.undertaken to cope up with the pandemic, such as backyard and urban gardening was the top listed activities that they have done, according to them, this becomes a source of their foods.One good thing that the pandemic has done is it opens the avenue of online selling; for some who have skills in cooking, they sell their finished products online; this serves as their way to cover up some of their expenses.Another is employees engage their time accepting part-time jobs like large artificial insemination, home services like Haircut manicures, pedicures, and tutorials.The pandemic has open ways for an individual with skills to put them into practice eventually.Live livelihood and farming have also been apparent during the lockdown; due to the suspension of everyday work, those who have livelihood and farms could spend their time checking their livestock and farms.Lastly, employees were able to stay and check on with their sari-sari stores, while some opened their physical stores irrespective of the needs in their locality.These activities were the identified best practices that they have undertaken during the peak of the pandemic.These were great help not only to job-orders but also to all the employees because the pandemic causes also delays their salaries.Even so, the resilience amidst Covid-19 was apparent to the CLGU employees, as the old adage says, "kapagmaiksiangkumotmatutongmamaluktot".
Furthermore, it further drew a reflection because of the pandemic.Noticeably, the pandemic had strengthened family ties and gave way to re-opening communication with loved ones.It also noted that the employees had felt a deep connection with their families again; the employees spent most of their time with their loved ones and realized that saving and spending wisely according to their needs and priorities is very significant in surviving any crisis, this was further validated during the interview conducted, as they have mentioned that aside from the identified strategies they have used, they resulted more to borrowings because not all of them were able to save before the pandemic.But some also thought of considering investing in having another source of income for emergency and future use.

VI. SUMMARY
1.The research findings show that 116 out of the 324 respondents are permanently employed, 105 are joborders status, and 103 are casuals.It only shows that the questionnaires were fairly distributed.The majority of the employees received P10,000.00 and above monthly salary, which is under the prescribed minimum rate as per Section 2 of Wage Order No. RBCAR-20.In addition, 183 respondents adhere that they buy commodities in cash; however, it is apparent that there is a slight difference of 42 responses in accordance to those who are acquiring their needs and wants both on a cash and credit basis.Most of the respondents are entirely dependent on their salaries.However, 82 of them answered that they find ways of earning extra income thru opening their own business.
2. The study found out that, in general, there is a negative effect of the pandemic along with the budgetary and savings requirements of the CLGU employees, specifically on the budget constraints of house maintenance, food, and medicine.Hence, it also shows that pandemic has a moderate effect on the budget, education, and leisure; since the lockdown has caused a temporary closure of schools and recreational centers, it lessened the budget for allowances and leisures.Thus, there was a moderate impact on savings, which accordingly, during the pandemic, mobility was immensely impacted, which resulted in a passably reduction of their savings.
3. The study signifies that the effect of the pandemic has no significant difference along with the employment status, salary range, source of income, and methods of buying; since our tolerance towards difficulties is high.Thus our resilience in such problems doesn't weaken.
4. The study further identified that the employees were financially unprepared.Thus later found out during the interview that they usually spend before saving, which made them financially unstable.
5. Hence, the study found out that there is also a positive effect relating to the pandemic; it made the employees reflect on spending more time with their loved ones and spend wisely.

VII. CONCLUSION
The pandemic had a severe impact on the financial management procedures of the CLGU staff.Consequently, the employees are still considered resilient because, despite the impact of the severe financial turbulence in the economy, they were still able to withstand the difficulty it has brought about.In addition, despite the negative consequences of Covid19 on financial and health problems, a good remark has been made: because of the lockdown, the pandemic has facilitated a reconnection between families.It came to the idea that saving and spending are essential components of any crisis response.2. This study could be a basis for the CLGU for policymaking to address the needs and safeguard the welfare its the employees.

VIII. RECOMMENDATION
3. This study would recommend further study on the financial management awareness and literacy to discourse financial freedom amongst the employees.
Being financially freed gives you peace of mind and may make employees more productive.
4. An intervention on introducing the importance of planning for long-term financial goal as retirement can be fast approaching is also admissible base on the findings of this study.

IJELS
problem, according to Tustin, Ligthelm, Van Aardt,Van  Wyk, and Martins (2005:7, 82).A descriptive survey questionnaire wasutilized in this study.The method has been selected based on the study's objective, the type of data, and the analysis techniques.was constructed based on the interview gathered from individuals living in the locality.The questionnaire consists of four (4) parts.The first is the respondent's profile, along; salary range, employment status, buying methods, and source of income.The pandemic's effect on the budget and savings aspect of the CLGU employees follows.The third is the Financial Readiness during the crisis; And lastly, the best practices of the CLGU employees during the pandemic.

Table 2 .
Level of the effect of the pandemic as to the amount of budget and savings incurred by the CLGU employees the table total average weighted mean is 2.84.The respondents stressed that the pandemic has moderately affected the amount of their budget and savings.The result depicts the resiliency of the employees amidst the crisis.According to Kaufman, R. 2017, financial resiliency refers to the ability to withstand fortuitous circumstances that may impact one's income or assets.The capability of one to make ends meet is their endurance to the sudden income change.Many of them were able to resist the struggle brought by the pandemic.Conversely, respondents were said to have been negatively affected as to budgeting since it has a computed average mean of 2.54.It is manifested that the pandemic has a negative impact on budgeting.According to the recent College Ave Student Loans survey among the 1,141 college students' parents conducted by Barnes & Noble College Insights SM shows that 6 out of 10 Families' budgets were affected by the Covid-19 Pandemic, including Plans to Fund College (Wilmington, Del 2020).

Table 3 .
Summary of Anova

Table 4 .
Summary of T-test

III. What are the best activities you have undertaken to overcome the financial challenges during the pandemic?(List
Do you consider yourself financially ready during a crisis/emergency?b.In case of emergency, where do you get your fund to finance your needs?c.Do you feel anxious about your financial status? d. Do you consider financial planning for the future?Appendix B Domingo Financial Management Mechanisms of Tabuk City Local Government Unit Employees amidst COVID 19 IJELS-2022, 7(6), (ISSN: 2456-7620) https://dx.doi.org/10.22161/ijels.76.50 444

Table computation on the significant difference on the effect of pandemic along with the different variables
The significant difference of the effect of pandemic along with Employment Status: