Financial Capability of Public School Teachers in the Philippines

Abstract

ABSTRACT: The overarching objective of this research is to investigate the current financial capability of public school teachers in the Philippines. The current study focused on the t hree key measures of financial capability: money management; ability to plan ahead; and financial literacy. This research followed a descriptive design and utilized survey as its method. Frequencies and percentages were computed to examine the three key measures of financial capability of the respondent-teachers. Data gathered were also compared in terms of regions and school levels. The survey was conducted among public school teachers in two regions: Region IV-A and the NCR (National Capital Region). Results shows that the financial capability of public school teachers is far from what is desired and merely reflects the negative trend on financial capability nationally and all over the world . Contributing to this findings are the respondent-teachers’ deficient money management skills, low incidence of financial planning, and inadequate knowledge on basic financial concepts as reflected in their dismal performance in the financial literacy quiz. Integrating financial education in the teacher education curriculum and in-service training of public school teachers can be an effective means not only to enrich the academic training of future teachers, but also to empower them to secure a more wealthy and prosperous future for themselves and for their family. While the current study provided server insights on the current level of financial capability of the public school teachers in terms of its three key measures, further research is necessary to validate these findings. KEY WORDS : Financial Capability; Financial Literacy; Financial Planning; Money Management; Public School Teachers . About the Author: Jerick C. Ferrer is an Assistant Professor IV at the Faculty of Education Science PNU (Philippine Normal University), Taft Avenue, Manila 1000, the Philippines. For academic interests, the author is able to be contacted via e-mail address at: ferrer.jc@pnu.edu.ph Suggested Citation: Ferrer, Jerick C. (2018). “Financial Capability of Public School Teachers in the Philippines” in EDUCARE: International Journal for Educational Studies , Volume 11(1), August, pp.59-78. Bandung, Indonesia: Minda Masagi Press owned by ASPENSI with ISSN 1979-7877 (print) and ISSN 2621-587X (online). Article Timeline: Accepted (April 21, 2018); Revised (June 22, 2018); and Published (August 30, 2018).