The purpose of the study is to reveal information through perspectives of school managers about the changes in educational finance practices caused by changes in educational finance practices in relation to school stakeholders by changing the monetary problems in schools and the neoliberal economic understanding. Pheneomonological research design was used. The sample of the study composed of 21 school principals working at different state schools in Istanbul in 2017-2018 school year. Semi-structured interview was used and data were analyzed using content analysis. The results revealed that the increase in privatization initiatives in education harmed equal opportunity in education. School managers also supported privatization in education, citing fiscal stresses in schools and low productivity of teachers. The inadequacy of expense items in the schools and the transferred resources obliged parents to support the schools. Financial problems harmed administration duty of school principals and teachers, reducing teachers' motivation and causing the parents to make negative judgments about these two shareholders. These kinnds of trends harmed the school shareholders' relationships. School-parent associations were not able to fulfill their responsibilities stated in the regulations; therefore, the majority of the financial problems faced by schools remained to be solved by the school administrators.