Financial management and satisfaction with life in colombians during confinement by COVID-19

Abstract

The health emergency generated by COVID-19 has led governments worldwide to take measures, in some departments, and-or states more rigorously than in others, to control morbidity and mortality through measures of protection. The acquisition of services and supplies at high costs, the closure of the productive sector, and the obligation of confinement in most sectors have negatively impacted the economy in the state, business, and personal finances, affecting the quality of life of the population. Objective: To describe personal financial management and satisfaction with life during confinement by COVID-19 in Colombia. Method: A descriptive quantitative study was carried out, in which 293 Colombians over 18 years of age, from all regions of the country. The Financial Management instrument and the Life Satisfaction Scale were used. Data analysis was performed with SPSS version 23 statistical software, using descriptive statistics parameters such as absolute frequencies and percentage graphs. Results: 66 % of the participants do not have additional income to the main occupation, 39 % have not paid their obligations promptly during confinement, 42 % consider that the economic situation has worsened compared to the previous year and state feel uncertain about financial commitments, 23 % of the sample stated that life circumstances are not right, expressing not feeling satisfied and 38 % require changing aspects of their lifestyle. Conclusion: Colombians experience satisfaction, conformity with what they have experienced in different aspects of life, despite the financial crisis generated by COVID-19.