Correlating Financial Literacy with Financial Management Capability of Public School Teachers of Pagbilao, Quezon

Abstract

INTRODUCTION

The researcher looked into the correlation of financial literacy to the financial management capability of public school teachers of the Pagbilao District. The result of the study may sound very obvious taking into consideration the rampant problem of illiteracy of Pagbilawins when it comes to money matters. But from this effort of making them realize the importance of the study, this will lead to the possible moves and actions to be formulated to at least lessen the problems if not eradicate all.

METHODS

The researcher used descriptive method since it best fit this kind of study as well as the combination of quantitative and qualitative method of research for the reason that it needed both methods to come up the reliability of the result. The researcher devised questionnaires which are a product of her professional readings. The researcher-made questionnaire has five parts. It made use of a descriptive-correlation method of research to explore the relationship between financial literacy and financial management capability. A statistical measure such as percentage, weighted mean, and t-test analysis was used.

RESULTS

Based on the gathered data and findings of the study, the following results were revealed. (1) It posited that demographic profile typically were females, 41-50 years, living in a rural area, graduate of a Bachelor's degree, and was earning PhP 15,000-PhP 24,999. (2) The financial literacy of the respondents posited an agreed level of response. (3) The level of financial management practices appeared to post an agreed response. (4) The financial management capability of the respondents showed an agreed level of response.

DISCUSSIONS

The researchers believed that the teacher specifically with a low level of financial literacy and financial management capability should equip themselves with the necessary and required knowledge in financial management. The respondents should improve their skills and competencies in investment management and its decision-making processes to make sure of an extra income and not to rely on the salary alone.