FINANCIAL LITERACY AND CAPABILITY OF PUBLIC ELEMENTARY SCHOOL TEACHERS

This study sought to determine the level of financial literacy and capability of public elementary school teachers of Handumanan Elementary School I and II, DepEd, Division of Bacolod City, Bacolod City during the School Year 2018-2019. Respondents were 112 teachers. It employed the descriptive research design and utilized self-made questionnaires in generating the desired data. Specifically, it identified the socio-demographic profile of the respondents in terms of age, civil status, educational attainment, and length of service. As a whole, the level of financial literacy of public elementary school teachers was “high” in terms of budgeting and saving; however, “low” in terms of investing and spending. Regardless of age, civil status, educational attainment, and length of service, the respondents’ level of financial literacy in terms of investing and saving was “high.” Except with their counterpart groups, the older, single, with bachelor’s degree, and those who stayed longer in service were “low” in terms of investing. Moreover, the level of financial literacy of the majority of the respondents in terms of spending was “low,” except those teachers with masters’ degree. Considered in its entirety, the level of financial capacity of public elementary school teachers in terms of budgeting, investing, and spending was “high,” except saving which was “low.” Regardless of age and civil status, the level of financial capability of the respondents in terms of budgeting, investing, and spending was “high,” except saving which was “low.” When considered by educational attainment, the respondents with bachelor’s degree showed “high” level of financial capability in terms of budgeting, investing, and spending except saving which was at “low” level. Finally, when grouped according to length of service, the respondents with shorter length of service showed high level of financial capability in all four areas; however, those with longer length of service were low in terms of saving and investing except in the other two areas. There was no significant difference existed in the level of financial literacy of the respondents in the areas of budgeting, saving, investing, and spending when they were grouped according to age, civil status, educational attainment, and length of service. Likewise, there was no significant difference existed in the level of financial capacity of the respondents in the areas of budgeting, saving, investing, and spending when they were grouped according to age, civil status, educational attainment, and length of service. Finally, there was a significant relationship existed between financial literacy and financial capability of the respondents.

Keywords: Financial, Capability, Literacy, Public Elementary School Teachers.

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