Financial Attitude and Practices among Public School Teachers in Iloilo

Aldried Denielle T. Tumaliuan
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Aldried Denielle T. Tumaliuan: Banking institution, BDO Network Bank, Philippines

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 5, 5465-5502

Abstract: This study investigates the financial attitudes and practices of elementary public school teachers in non-central schools with more than ten teachers in Tigbauan, Iloilo, within the Schools Division of Iloilo. A descriptive-correlational research design was employed, surveying 95 teachers selected via Slovin’s formula and simple random sampling. A researcher-made questionnaire, with a Cronbach’s Alpha of 0.938, assessed financial attitudes and practices in savings, budgeting, investing, and debt management. Data analysis was performed using descriptive statistics and inferential tests, including Mann-Whitney, Kruskal-Wallis, and Spearman rank correlation, with a significance level of 0.05. The findings revealed that teachers exhibited a generally positive financial attitude, especially in saving, budgeting, and debt management. Financial practices, however, were more moderate, with savings practices showing room for improvement, particularly among older and lower-income teachers. Budgeting practices were high, but investment practices were notably low, reflecting limited participation in investment activities. A positive relationship was found between financial attitudes and practices, suggesting that teachers with a stronger financial attitude tend to engage in better financial management. No significant differences were observed in financial attitudes and practices across various demographic factors, such as age, civil status, and income, except for budgeting, which was influenced by educational attainment. Based on these findings, recommendations include enhancing investment education for teachers, implementing financial literacy workshops, and integrating financial training into teacher development programs to improve overall financial well-being. Future research could expand on these findings to explore the long-term impact of financial literacy on teacher performance and satisfaction.

Date: 2025
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