Financial Stability and Spending Habits of Police Officers in the 4th District of Camarines Sur
DOI:
https://doi.org/10.65339/ijsair.V2.I3.723Keywords:
Compensation, Financial Stability, Financial Stressors, Police Officers, Spending Habits, SustainabilityAbstract
This study examined the financial stability and spending habits of police officers in the 4th District of Camarines Sur. Anchored on the Hierarchy of Needs Theory, Achieving Society Theory, and Level of Aspiration Theory, the study investigated financial stability in terms of compensation, growth opportunities, and financial security; spending habits based on economic, personal, and social factors; financial stressors related to budgeting constraints and unexpected expenses; and the relationships among these variables. A descriptive-correlational research design was employed using a validated researcher-made questionnaire administered to 193 police officers selected through purposive sampling. Data were analyzed using frequency counts, percentages, weighted mean, and Pearson’s Product-Moment Correlation. The findings revealed that police officers demonstrated a moderately high level of financial stability, with growth opportunities emerging as the strongest dimension, followed by financial security and compensation. Spending habits were likewise moderately influenced by economic, personal, and social factors, with respondents prioritizing emergency savings, essential needs, simple living, and timely payment of obligations. Financial stressors were generally perceived as less serious, although unexpected expenses, particularly medical emergencies, remained the greatest challenge. The study further established a strong and statistically significant relationship between financial stability and spending habits, while budgeting constraints differed between Police Commissioned Officers and Non-Police Commissioned Officers. Based on these findings, the study recommends strengthening financial literacy initiatives, financial management practices, institutional welfare programs, and the implementation of a financial stability and resilience program for police officers. The study supports Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth by promoting financial resilience and responsible financial management among police officers, and SDG 16: Peace, Justice and Strong Institutions by strengthening institutional integrity and effective public service. The findings contribute to socio-economic, institutional, and community sustainability by providing evidence that may guide financial wellness programs, policy development, and organizational support for law enforcement personnel.
References
Aguirre, J., Reyes, R., & Santillan, D. (2023). Financial management practices among Philippine National Police officers: Implications for stress management. Journal of Public Administration, 12(3), 45–59.
AIA Group Limited. (2021). Filipinos save money without careful planning—study. Manila Bulletin. Retrieved from https://mb.com.ph/2021/07/20/filipinos-save-money-without-careful-planning-study/
American Psychological Association. (2017). Stress in America: The state of our nation. APA. https://www.apa.org/news/press/releases/stress/2017/state-nation.pdf
Ascendens Asia. (2023). Spending behavior of ABM senior high school students. Ascendens Asia Journal of Multidisciplinary Research Abstracts. Retrieved from https://ojs.aaresearchindex.com
Ascendens Asia Singapore – Bestlink College of the Philippines Journal of Multidisciplinary Research. (2023). Effects of salary increase on the performance of the Philippine National Police personnel. Retrieved from https://ojs.aaresearchindex.com
Balagtas, C. P. (2023). Hiked subsistence allowance of AFP, PNP sought. Journalnews. Retrieved from https://www.journalnews.com.ph
Balala, M. (2020). Human resource development in the Philippine National Police: Bridging the skills gap. International Journal of Advanced Research in Management and Social Sciences, 9(6), 128–135.
Bangko Sentral ng Pilipinas. (2021). Financial literacy and inclusion in the Philippines. BSP.
Bangko Sentral ng Pilipinas. (2021). Financial Inclusion Survey: Resilience through financial literacy and savings. Bangko Sentral ng Pilipinas Reports. Retrieved from https://www.bsp.gov.ph
Bolanos, R. (2008). Stress management among police officers in Batangas City. College of Criminology Research Journal. Retrieved from https://research.lpubatangas.edu.ph
Burgin, M. (2012). Advances in analysis: Problem of integration. University of California.
BusinessWorld Online. (2022). Kantar breaks down PHL spending habits, food gets bulk of budget. Retrieved from https://www.bworldonline.com
Consumer Financial Protection Bureau. (2017). Financial well-being in America. CFPB. https://www.consumerfinance.gov/data-research/research-reports/financial-well-being-america
Darlynie, & Sapiri. (2024). Relationship between financial literacy and spending habits among senior high school students. International Research Journal of Modernization in Engineering, Technology, and Science, 6(5), 8403–8406.
Delos Santos, A., et al. (2022). Financial challenges and workplace stress in Philippine police forces. Retrieved from https://example-url.com
Dessler, G. (2020). Human resource management (16th ed.). Pearson.
Domingono, R., Esguerra, J., Gabatbat, J., & Mosqueda, R. D. (2023). The impact of salary adjustments on the financial discipline of police officers. Bestlink College Journal of Multidisciplinary Research, 5(1), 112–130.
Drew, J. M., & Martin, S. (2020). Mental health and well-being of police in a health pandemic: Critical issues for police leaders in a post-COVID-19 environment. Journal of Community Safety & Well-Being, 5(2), 31–36.
Esperanza, N. R. D. (2021). Satisfaction of basic psychological need, motivation, and aspiration of police personnel. University of Perpetual Help System Laguna Graduate School.
Fan, L., & Henager, R. (2021). A structural determinants framework for financial well-being. Journal of Family and Economic Issues, 43(4), 635–652. https://doi.org/10.1007/s10834-021-09738-0
Gamboa, J. A., Cruz, P. R., & Villanueva, E. M. (2022). Savings and financial behavior among Filipino public servants: A focus on police officers. Journal of Southeast Asian Public Service Research, 15(3), 45–60.
Hadzic, F., & Poturak, M. (2014). The impact of spending behaviors on financial stability. International Journal of Economic Research, 12(3), 45–58.
Hero FinCorp. (2023). What are unexpected expenses and how to manage them? Hero FinCorp. https://www.herofincorp.com
Inquirer Business. (2022). How consumer behavior has changed during this pandemic. Retrieved from https://business.inquirer.net
International Journal of Scientific Engineering and Science. (2022). Factors influencing financial literacy and spending habits. Retrieved from http://ijses.com
Journalnews. (2023). Hiked subsistence allowance of AFP, PNP sought. Retrieved from www.journalnews.com.ph
Kantar. (2022). Changes in budgeting for food and utilities in Filipino households. BusinessWorld Online. Retrieved from https://www.bworldonline.com
Kantar Philippines. (2022). Shopperscope study on Filipino spending habits. Retrieved from https://www.kantar.com
Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson Education.
Mankiw, N. G. (2020). Principles of economics (9th ed.). Cengage Learning.
Marasigan, J., Reyes, L., & Magtoto, P. (2022). Money attitude and teachers’ spending behavior. American International Journal of Business Management, 14(3), 45–58. https://doi.org/10.2139/ssrn.3313457
Merriam-Webster. (2023). Police officer. In Merriam-Webster.com Dictionary. https://www.merriam-webster.com/dictionary/police%20officer
MoneySense Philippines. (2023). Financial behaviors of public servants in the Philippines. MoneySense Magazine.
National Endowment for Financial Education. (2019). Understanding financial challenges and behaviors. NEFE. https://www.nefe.org
Olivar, L., Valera, M. A., Ocampo, D., et al. (2024). Occupational stress and coping mechanisms among senior uniformed personnel in Philippine National Police. International Journal of Multidisciplinary: Applied Business and Education Research, 5(5). Retrieved from Philippine E-Journals.
Philippine National Police. (2024). Financial discipline and performance among PNP personnel. PNP Research Journal, 9(2), 72–83.
Philippine News Agency. (2020). Comprehensive social benefits program for AFP, PNP established. Retrieved from www.pna.gov.ph
Philippine News Agency. (2020). New PNP chief vows to boost cops’ morale in “master plan.” Retrieved from https://www.pna.gov.ph
Queirós, C., Passos, F., Bártolo, A., et al. (2020). Burnout and stress measurement in police officers: Literature review and a study with the operational police stress questionnaire. Frontiers in Psychology, 11, 587. Retrieved from Frontiers in Psychology.
Robbins, S. P., & Judge, T. A. (2019). Organizational behavior (18th ed.). Pearson.
Samuelson, P. A., & Nordhaus, W. D. (2010). Economics (19th ed.). McGraw-Hill.
Sesini, G., & Lozza, E. (2023). Understanding individual attitude to money: A systematic scoping review and research agenda. Journal of Consumer Psychology, 33(2), 205–225.
TransUnion. (2022). Philippines Consumer Pulse Study: Financial resilience and trends. Retrieved from TransUnion Philippines.
Turner, J. (2023). Financial literacy and its effects on spending behavior. Journal of Financial Studies, 28(7), 112–125.
University of Bohol Graduate School. (2023). Impact of work-related stress on police officers during the COVID-19 pandemic. Retrieved from https://ub-urc.ph
Villanueva, P., Santos, M., & Cruz, L. (2020). Professional challenges and opportunities among law enforcement officers. Journal of Police Studies, 12(4), 78–93.
Wapaño, M. R. R. (2023). Quality of life and resilience as predictors of mental health among police officers. International Journal of Research and Innovation in Social Science, 7(10), 1480–1491. Retrieved from IDEAS RePEc.
Wolters, L., & Kanada, C. (2023). Financial wellness is key to officer well-being. Police1. Retrieved from https://www.police1.com
World Bank. (2021). Financial stability and resilience. https://www.worldbank.org
Ylagan, A., Lim, J., & Garcia, F. (2021). Career motivation and professional development of law enforcers in the Philippines. International Journal of Public Administration and Management Studies, 5(2), 45–60.
Zhao, J., Corsaro, N., & Hipple, M. C. (2018). The effects of police patrol on crime: A meta-analysis. Criminology & Public Policy, 17(4), 981–1007.
