Financial literacy of private school teachers in Bansalan, Davao del Sur

Abstract

This study aimed to measure the level of financial literacy of the selected private school teachers in Bansalan, Davao del Sur. The purpose of the study was to determine the person’s literacy in terms of budgeting, spending, saving, borrowing and investing. Gathering of data was materialized through the collection of information by distributing the questionnaires to the respective target respondents. Data gathered were compiled, summarized, and were being analyzed through the statistical tools of research. The analyzed results revealed that the respondent’s level of financial literacy when it comes to budgeting, spending and borrowing is often observed and it was only sometimes observed in terms of saving and investing. It means that the selected respondents were not very particular on saving and investing their finances. When analyzing to their differences, the results showed that there is no significant difference in the financial literacy when analyzed based on their sex, age, marital status, and salary. It is deemed proven that the respondents are financially literate. There it is recommended that individuals must be educated enough on the knowledge about financial literacy; Individuals should be more aware in terms of saving and investing; Implementation of financial literacy education on schools must be done; Furthermore, the researchers encourage the future researchers to conduct another research regarding the level of financial literacy at different samples from other locations to broaden the knowledge about the study presented.