Financial literacy and spending habits among workers of car dealership

Abstract

Employees nowadays forget the importance of financial literacy to their day to day lives. They become financial illiterate and having a hard time budgeting. This is the reason why most of the employees are struggling with their finances when unexpected expenses occurred. The primarily purpose of the study is to assess how the relationship between the financial literacy and spending habit work. The study used a descriptive quantitative analysis which involves the use of numbers to asses’ information. Furthermore, in selecting the respondents, the study used convenience sampling for 40 employees of Honda Cars. The study used adaptive questionnaire and statistically treated the obtained data using mean and chi-square test. The study revealed that there is no significant relationship between the financial literacy and spending habit among workers of a car dealership. The result indicates that the financial literacy of the employees in a car dealership was high, while the spending habit was moderate.