Financial Literacy and Financial Well-Being of Public School Teachers in The Schools Division of Calamba City

Abstract ―​

This study evaluated the relationship of financial literacy and financial well-being of public school teachers. The descriptive correlational research design was employed in this study to determine the link between the level of financial literacy and the level of financial well-being of public school teachers in the Schools Division of Calamba City. The study involved 287 participants from both elementary and secondary public schools in the Schools Division of Calamba City. To analyze the level of financial literacy and the level of financial well-being of public school teachers, a two-part adapted survey questionnaire was employed. Prior to data collection, the research instrument was validated by specialists, pilot tested, and Cronbach’s Alpha reliability tested. For quantitative data analysis, the Four-Point Likert Scale, Pearson Product-Moment Correlation (Pearson r) and regression analysis were utilized. The findings revealed that the level of financial literacy of public school teachers in SDO Calamba City, had a High general assessment in terms of Financial Knowledge, Financial Attitudes, and Financial Behavior. A Very High general assessment was obtained by the level of Financial Literacy in terms of Financial Skills. Meanwhile, the level of Financial Well-being of public school teachers in SDO Calamba City both have a Very High general assessment in terms of Meeting Commitment, and Feeling Financially Comfortable. A High general assessment was obtained in terms of Resilience for the Future. Likewise, there was a significant relationship between the Level of Financial Literacy and Financial Well-being of Public school teachers in the School Division of Calamba City. Financial skills and financial attitudes significantly impacted the Financial Well-being of public school teachers in terms of meeting commitments. Similarly, financial skills and financial attitudes significantly impacted the financial well-being of public school teachers in terms of feeling financially comfortable. Meanwhile, financial knowledge, financial skills, financial attitudes and financial behavior, significantly impacted the financial well-being of public school teachers in terms of resilience for the future. The proponent prepared and presented a training program that will definitely improve the level of financial literacy public school teachers and eventually their financial well-being.