Financial Literacy of Teachers: A Quantitative Study

Business research

Teachers play a crucial role in shaping the minds and futures of their students. As role models, it is essential for them to be financially literate.This study aimed to investigate and measure the level of financial literacy of teachers. This study explains how public school teachers understand their financial literacy levels and how it can be improved. The research respondents comprised a total population of 56 teachers. The survey method measured the respondents' financial literacy, including financial awareness, financial experience, subjective financial knowledge, financial skills, financial capability, financial goal, and financial as reflected in individuals’ financial behavior. The research data were collected using a quantitative descriptive survey and were analyzed by the following statistical tools: frequency-percentage used to determine the profile of public teachers; mean used to determine the financial literacy levels; independent sample T-test determined the differences between men and women when group into sex; and ANOVA- used to test the significant difference when respondents are grouped according to their demographic profile. The study showed that teachers' financial literacy level is high. However, they need higher levels of financial decisions. In the test of significant difference, financial skills differ significantly in age and educational attainment, financial goals, and financial behavior differ significantly in respondents’ educational attainment, and the rest found no significant differences in the level of financial literacy in the respondents' profiles. This study fills the gap in the literature related to financial literacy at the local level. It provides information to assist institutions and policymakers in developing strategies to increase financial literacy in society.

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