GASPRO International Journal of Eminent Scholars

ABSTRACT

The study sought to investigate social life as a predictor of the management of family finances by members of extended family. Descriptive survey design was adopted for the study. The study area includes Ukaki. ZaramaEpie and igbogene in yenegoa Local Government council of Bayelsa State. Edoha, Okporowo, and Oshika in Ahoada East and Okarki, Odawu and Isua in Ahoada West Local Government Councils of Rivers State. The population of the study includes all parents in an extended family in Ahoada West, Local Government Area. Simple random sampling technique was used to select 60 parents who constituted the sample size for the study. The Instrument used in this study for data collection was a questionnaire titled “Extended Family and its Influence on Family Finance (EFIFF)”. The reliability of the instrument was obtained through a pilot test method to test the internal consistency of the items in the instrument to ensure the objectivity of the study within 2 weeks using fifteen respondents. Based on the findings of the study, it was observed that academic performance is influenced greatly by family finance that is to say that when the money is not there the children in the family are affected seriously because the parents will not be able to pay their school fees nor send them to a good school. One of the recommendations made was that Parents should manage what they have not going into impulse buying.

KEYWORDS: Social life, Family finances, Extended family, Children’s academic, Bayelsa and Rivers State