MENTAL ACCOUNTING: EFFECTS ON SAVING HABITS OF CERTIFIED PUBLIC ACCOUNTANTS IN GENERAL SANTOS CITY

Certified Public Accountants in General Santos City played a vital role in the society but some of them are facing financial problems. Thus, the purpose of this study was to see how mental accounting affects the saving habits of CPAs in GSC. A Personal Finance Survey done by D1 Labs shows 88% save at least 25% of their monthly income and most of them do not track expenses, thus those who save using their mental accounting capabilities have more options than those who have not. This study was a mixed approach and correlational research design using a survey questionnaire as a key tool in acquiring significant and relevant data from 72 CPAs in GSC. According to the findings, mental accounting has a significant impact on the saving habits of the CPAs in GSC. It shows a strong positive correlation. This revealed a link between CPAs mental accounting capabilities and the degree of their saving habits. This result implied that the more CPAs exercise their mental accounting capabilities, the more successful their saving habits become. It also emphasized the need for the CPAs to develop their mental accounting skills in order to improve their saving habits in accordance with their income.