Financial Management Strategies Adopted by Homemakers in Post-Pandemic Era

Abstract

This study examined strategies that homemakers adopted in financing family needs in post-pandemic era. The study was carry-out in Aba North Local Government Area (L.G.A) of Abia State, Nigeria. The researchers adopted descriptive survey research design. Purposive and simple random sample technique was used to select 240 Homemakers from 6 communities in Aba North L.G.A. The data was obtained using a structured questionnaire . The questionnaire consists of ten-item statements with two clusters. Three experts validated the questionnaire (internal consistency value=0.94). Direct contact method to was used to collect data from the participants. Means and standard deviation was used to answer the research questions while hypotheses was tested with t-test at 0.05 level of significance. Some of the findings include that: homemakers prefer buying items in the market, planned spending habit, spent money within the limit of family income, family needs were always arranged according to their priority, and homemakers depended mainly on homemade food. The tested hypotheses indicate that there is no significant difference in the mean ratings of homemakers and their husbands in the income and saving management strategies adopted. It was therefore recommended that homemakers should adopt relevant and appropriate financial management strategies suitable for their income levels.