Managing personal debt for household investments among primary school teachers in lira city, mid-north of Uganda

Abstract

The study sought to determine the effect of managing personal debt to household investments among primary school teachers in the central division of Lira City. The study was guided by the following objectives: 1) to determine the level of personal debt management among primary school teachers; and 3) to determine the level of household investments among primary school teachers; and to determine the effect of personal debt management to household investment among primary school teachers. It was a cross-sectional survey design constituting a study population of 168 primary school teachers serving in government-aided primary schools, and a sample size of 118 units was generated. A questionnaire was used as the data collection instrument and both descriptive statistics and inferential statistics were helpful in analysing data. The results indicate non-significant effect of debt management on household investments. Thus, personal debt management accounts for a very low effect on household investment in Lira city. It is recommended that primary school teachers be exposed to financial education for them to appreciate the consequence of contracting and managing debt to help them achieve sought after household investments. In consideration of the fact that a good number of primary school teachers have high operational expenses some of which are facilitated by debts, it is essential to rank short-term fiscal discipline so as to guarantee a future of financial freedom by streams of debt for household investments.