Assessing the Financial Literacy of East II District Secondary Public School Teachers: Inputs to Introspective Educational Intervention for Financial Education
This study aimed to assess financial knowledge secondary public school teachers, and introduced a module to guide educators in deciphering indebtedness. A widely-used standardized tool was administered to 152 teacher-respondents East II District of Cagayan de Oro City, Philippines. Complex problem required the researchers to survey 152 randomly selected respondents using Slovin’s Formula with experimental survey design. Majority of the respondents were from age group 32 to 60 years old, thus, 64.47% indicated they run out of cash before payday. Data from controlled group were analyzed and revealed that, scores were very low and indicated inability to answer financial capacity test. Focused on result of financial illiteracy, an introspective educational intervention was presented to experimental group and followed a posttest to gather comparative data. Statistical treatment was done using pretest, posttest, descriptive statistics, ordinal analysis, Likert Scale and Kruskal-Wallis Test. Experimental group had 0% answer on ‘I don’t know’ option from capacity test which highlighted positive respond to intervention. There were 46.46% increase in correct answers. Furthermore, H value was higher than critical Chi-square value, thus, revealed there was significant difference between tests. Upsurge results signified that intervention was effective and recommended for implementation to influence sound financial decision making among educators and for intelligent choice of investment vehicle. This directly would contribute to our economy by reversing illiteracy to financially learned individual.
Keywords - Financial Knowledge; Introspective; Investment; Financial Education; Philippines