ABSTRACT

This study ascertained financial management problems of mothers teaching in federal Institutions in the Eastern zones of Nigeria. Specific objectives include identifying the financial management problems of teaching mothers in federal colleges of Education in Eastern States ofNigeria, causes of financial management problems, effects of the financial management problems and also the measures to enhance proper financial management of teaching mothers in federal Colleges of Education of Eastern zones of Nigeria. A total of 116 teaching mothers in all the federal colleagues of Education in two- geo-political zone were used for the study. Four research questions were answered and a hypothesis was tested. Data collected were analysed using mean, standard deviation, percentage and chi-square for testing the hypothesis. (At 0.05 level of significance calculated, using chi-square statistics), there was a significance difference between the higher status and lower status of teaching mothers with regards to their expenditure. Tension and discord, debt accounting for highest problems of financial management, insufficient income and reduction in salary also lack of budgeting and planning constituted the major causes of financial management. On the effects of financial management problems thirteen (1 7) items were all regarded as the effect of financial management problems. It was recorded that keeping financial statements and records, making decision before planning and avoiding compulsory and impulsive buying recorded highest in measures to enhance proper financial management. It proffered that the salary of teaching mothers should be projected and improved to help them with enough finance to manage their problems. Seminars, workshops aiid conferences should be organized for these mothers to improve their financial management practices. The government should encourage these groups by giving them incentives — promotion and study allowance. On the part of the mothers they should form a club where they will introduce compulsive savings to help themselves financially, and they may eiigage in other business to substitute their income or salary.