Financial Literacy Practices of Teachers

Embracing sound financial literacy practices can empower teachers to build a financially literate community. In this context, this study aimed to determine the level of teachers’ financial literacy practices. Data for this descriptive study was collected from 56 teachers using a researcher-made instrument that has gone through rigorous tests of validity and reliability. The ensuing analysis showed a low level of financial literacy among teacher-respondents. Additionally, no significant difference was found in the teachers’ financial literacy practices based on age and civil status. In contrast, a significant difference was found in teachers’ financial literacy practices based on groupings by educational attainment and family income. Meanwhile, a significant difference was found when the same data was analyzed based on the length of service and grouping by needs and wants. The findings of this paper call for a salary increase for the teachers, loans on a legal basis, seminars, and training for teachers. Keywords: Financial literacy practices, teachers, Negros Occidental, Philippines