Personal Financial Management of Civil Servants under the Ministry of Education Retired at the End of the Fiscal year 2019

Abstract

The purposes of this research were to study knowledge, understanding and perception towards financial planning at retirement of government officials under the Ministry of Education, retired at the end of fiscal year 2019 and to study the personal factors and factors affecting personal financial planning of civil servants under the Ministry of Education, retired at the end of fiscal year 2019 by using questionnaires as a tool for data collection from 499 government teachers who retired at the end of the fiscal year 2019 in Bangkok. The statistics used for data analysis are descriptive statistics presented by frequency, percentage, mean and standard deviation, inferential statistics using Chi-square statistics to test hypotheses.

The research results are as follows: most of the samples are female, married, having bachelor’s degree, having 16-25 years of work experience with the average income of 15,001-20,000 baht whose opinions show that the other factors, including the political situation in Thailand, the way of life of each person, laws and regulations relating to finance and investment, and tax incentives affect the personal financial planning the most. They make the medium time frame for personal financial plans (1 to 5 years) emphasizing financial security with the objective to control the financial status and prevent the burden of debt exceeding the ability to pay debts. The person who has the influence on the personal financial planning is the family. The awareness of information, the understanding of personal financial planning, economic situation and other factors affect the personal financial planning

in the terms of creating personal financial plans, personal financial planning objectives and personal influences on personal financial planning.