Abstract. Financial challenges can arise from various personal and external factors, and understanding the intersection of individual perspectives and societal influences is crucial for addressing these challenges effectively. To understand the lived experience of financial challenges, a qualitative research design, precisely Moustakas’ Transcendental Phenomenological approach, was employed. The selected public school teachers of District 5, Division of Oroquieta City, served as the key informants. The prevailing financial challenges teachers encounter in public schools represent a pressing matter that warrants attention and proactive measures. The study revealed that public school teachers face financial challenges due to their family needs, education for their children, stagnant salaries, rising healthcare expenses, and the necessity of personally funding classroom supplies. The prevailing issue of teachers' loans has become increasingly over the years due to their commitment to provide for the needs of their family, personal, and even work. Their financial literacy practices could better determine how they manage their finances. Thus, authorities should discuss the salary wages of public school teachers, giving incentives and other funds to support any contingency that might occur to alleviate the financial constraints they experience.

Keywords: Financial challenges; Public school teachers; Transcendental phenomenological study; Teacher salary challenges.