Personal financial management of Pantawid Pamilyang Pilipino Program (4Ps) beneficiaries in Calapan City

Pantawid Pamilyang Pilipino Program (4Ps) is a creation meant to allow low-income households in the Philippines live better lives. Although there are much efforts in the preparation of this Program, beneficiaries still encounter difficulties while managing their money. This research was aiming to investigate the understanding on financial matters of 4Ps Beneficiaries, what are their financial habits, and the challenges they have while handling cash. A survey involving a total of 4Ps households has been conducted as the field investigation tool in receiving data on this subject. It was evident that 4Ps benefits possess basic knowledge on banking-related matters such as budgeting, prioritizing on what they need and how to spend meticulously. However, their expertise on financial matters with much complex topics of keeping track of cash, understanding different types of loans, and also how to take loans correctly are limited. Moreover, different beneficiaries have complained that they encounter difficulties in managing their cash and that their 4Ps benefits are generally used for purchasing needs that might is really not needed. All said and done, despite the positives and negatives on how beneficiaries handle cash, the results acquired show that there are more efforts and training to be done to promote a more manageable and effective life for these people around money. This could be training on improving a higher level of understanding of financial matters in order for them to achieve a savings habit, as well as in making a better money decision.