Financial literacy and financial well-being of public school teachers in Tagum City

Abstract

The main objective of this study was to determine the level of financial literacy of the teachers and the level of financial well-being. Researchers sought to determine the financial literacy of public school teachers in Tagum City regarding budgeting, saving, borrowing, and investing. The indicators of financial literacy were based on the operational definition of Remund and Huston The researchers also assessed their level of financial well-being regarding perceived attributes and evaluated attributes. The indicators were taken from the conceptual model of financial well-being by Porter and Garman. This study will be significant not only to the teachers but to other employees, even to students, since this will make them aware of their financial well-being and the possible causes behind it. The respondents were public school teachers in Tagum City. The data were analyzed using the statistical tool mean. The study revealed a negative and insignificant relationship between financial literacy level and the financial well-being of public school teachers in Tagum City.