Personal Finance and Housing Cooperative Model for University Employees

This study focuses on assessing the personal finance and the development of a housing cooperative as model for the employees in different universities. The study uses the structural equation modelling to determine the significance of individual questions in the different variables on the demographic indicators in modeling their overall contribution the respondents’ choice of a housing cooperative model. The results show that questions related to savings, expenses and debt management are significant under alpha = 0.05 towards the demographic indicators using the confirmatory factor analysis. With respect to the cross tabulation using the cluster analysis in terms of age, civil status, gender, education and income of the respondents, the results showed that model 2 is more preferred with 45.7%. Models 2 and 4 were better preferred among those respondents with income of USD 700 to USD 1,000 because the terms of repayment is from 10 to 15 years in semi-monthly payments. The polynomial regression analysis also revealed that money management has a p-value of 0.022, savings management has 0.038, and expenses and debt management has 0.034 all of them showed the significant levels with respect to the housing cooperative models and among the demographic indicators such as civil status with a p-value of 0.053, gender has 0.003, and income has 0.060 are the ones that also demonstrated a significant contribution to the respondents’ choice of a housing cooperative model. All have significant factors except with the demographic profile in education are related to the modelling of a housing cooperative.