Factors Affecting Financial Stability of Filipino Seafarers

This study determined the factors affecting the financial stability of the respondents as to their monthly income, investments/savings, and activities. Based on the struggles of Filipino Seafarers securing a financial and stable living were evaluated thoroughly in the study. Furthermore, it tried to seek if there is a significant relationship between the respondent's financial status and factors affecting financial stability. This resulted in determining the problems and issues encountered by Filipino Seafarers together with their families. The study employed the quantitative-descriptive method of research that made use of a modified survey instrument through a checklist type of questionnaire. The respondents were 100 purposively chosen seafarers with families residing in the City of Lucena, Quezon Province. Results show the seafarer is a tough job. They leave their homes and families to earn money that can be sent home to their families. Furthermore. It is common among Filipino seafarers to engage in different investments whose objective, among other things, is to improve the standard of living of the family. It is especially in the fields of education, housing, and small-scale business projects that these expenditures take place.