Struggles Towards Financial Success of Out-of-School Youth: A Phenomenological Inquiry

Abstract

This study aimed to explore and understand the lived experiences of out-of-school youth who did not pursue higher education but were eventually successful in the business and financial fields. The researcher employed a qualitative research design, specifically a phenomenological design. Participants were purposively selected and interviewed in-depth using a validated interview guide. The themes extracted from the lived experiences of out-of-school youth show how they confronted youthful burdens, engaged in work-driven survival, pursued supplementary entrepreneurial endeavors, and gradually advanced their enterprises as they worked toward financial success. Their journey was marked by various struggles, financial, emotional, and situational, yet they continued moving forward. The themes that emerged from their coping mechanisms highlight their resilience amid hardship, reliance on assistance-driven resilience, commitment to disciplined entrepreneurial practices, and willingness to make faith-driven sacrifices. These were expressed through self-upskilling using internet resources, adapting to changing demands, seeking support from others, and holding on to their faith in God. Meanwhile, the insights they shared with the academe and community emphasize the importance of diversifying income strategies, practicing enduring success values, upholding prudent financial management, promoting skill development, and fostering value formation as keys to achieving financial success.