FINANCIAL COMPETENCE: ITS RELATION TO SAVING AND SPENDING BEHAVIOR AMONG DEPED HIGH SCHOOL TEACHERS

Author Name: 1. Niña Janelle S. 2. Yu

Volume/Issue: 05/08

Country: Philippines

DOI NO.: 08.2020-25662434 DOI Link: https://doi-ds.org/doilink/01.2025-73481425/UIJIR

Affiliation:

1. Public School Teacher, Eastern Samar National Comprehensive High School, Philippines
2. Student, Graduate School, Eastern Samar State University, Borongan City, Philippines.

ABSTRACT

Financial competence is a crucial skill that impacts the individual’s ability to manage finances effectively. This study measured the level of financial competence of DepEd high school teachers of Borongan City Division and linked its relationship to their saving and spending behavior. A descriptive-correlational research design was employed in this study of which 196 teacher-respondents were surveyed using an adapted and modified questionnaire. Results revealed that the level of cognitive (financial knowledge) and non-cognitive (financial attitude) financial competence of teachers in terms of money and money transactions, planning and managing finances, as well as risk and risk management is high. Furthermore, the level of financial behavior in terms of their saving behavior is sometimes practiced while their spending behavior is also practiced sometimes. The test on the relationship between financial competence and their financial behavior in terms of saving and spending showed a significant relationship with a p-value of 0.000, making a decision to reject the null hypothesis. The findings indicate that higher levels of financial competence are significantly associated with more prudent saving behaviors and more controlled spending habits among teachers.

Key words: Financial Competence, Financial Behavior, Saving, Spending