Financial Literacy, Behavior, and Challenges in Teaching: An Insight for a Literacy Program

Financial Literacy, Behavior, and Challenges in Teaching: An Insight for a Literacy Program

Tornino, Janelee, Ferdinez, Emil

Pamantasan ng Lungsod ng Valenzuela, Philippines

DOI: https://dx.doi.org/10.47772/IJRISS.2025.907000242

Received: 24 June 2025; Revised: 08 July 2025; Accepted: 11 July 2025; Published: 11 August 2025

ABSTRACT

This study investigated the financial literacy of public secondary school educators at Bignay National High School and its correlation with their teaching performance.  Data were collected from 120 purposively selected respondents using a descriptive correlational research approach via a structured survey.  The study examined three fundamental aspects of financial literacy knowledge, conduct, and attitude alongside prevalent financial issues and performance evaluations derived from the Individual Performance Commitment and Review Form (IPCRF).  The analytical tools employed were frequency analysis, weighted mean calculation, Pearson’s correlation coefficient, and chi-square testing.

The findings revealed that educators typically had strong financial literacy, especially in budgeting and debt management, yet showed deficiencies in investing and long-term planning.  Despite these financial skills, numerous educators continued to face persistent financial challenges, including insufficient earnings and unforeseen expenses.  Statistical investigation revealed no significant correlation between financial literacy and teaching performance, nor any notable relationship between financial literacy and demographic profiles. A weak yet substantial negative relationship was observed between financial literacy and financial problems, indicating that increased financial literacy may alleviate financial stress.

In light of these findings, the researchers recommended a financial literacy initiative WISE Teachers (Wealth, Investment, Savings, and Empowerment) to rectify significant deficiencies and enhance the financial welfare of educators.  The study’s findings seek to enhance professional resilience and guide future policy regarding teacher financial empowerment.

Keywords: Financial Literacy, Teaching Performance, Financial Behavior, Investment  Knowledge, Financial Management

INTRODUCTION

Financial literacy refers to the ability to understand and apply essential financial skills, such as personal financial management, budgeting, and investing. It provides the foundation for making informed and smart financial decisions, fostering a healthier relationship with money (Fernando,2024).

As mentioned by Gupta (2022), having strong financial literacy skills is useful in today’s world where everything is interconnected. As Setyorini and others noted in 2021, informed financial literacy aids in essential financial planning, helps people make strategic decisions relating to their savings, investments, and even debts which directly leads to stability in personal finances and peace of mind.

For teachers, financial literacy is particularly important, as it helps them manage their personal finances, reduce financial stress, and enhance their professional performance. Financially secure teachers tend to be more focused, productive, and satisfied in their roles, which ultimately benefits their students (Compen & Schelfhout, 2021). However, many teachers face significant financial challenges, such as high levels of debt, inadequate savings, and a lack of investment knowledge. These issues contribute to financial stress, which negatively affects their well-being and job satisfaction (Casingal & Ancho, 2021). Financial literacy plays a vital role in addressing these challenges, promoting informed decision-making, and ensuring personal and professional stability (Outouzzalt et al., 2023). It also contributes to broader economic stability, supporting both individual and national financial health” (Khan et al., 2022).

Although ample research exists on financial literacy and personal financial behavior, little attention has been paid to the connection between financial literacy and the professional performance of teachers. This is particularly true for public-school teachers, who endure difficult conditions, including low pay and a lack of financial educational resources. Most existing research tends to focus on the individual consequences of financial behavior, often neglecting how financial literacy impacts professional effectiveness. The relationship between financial literacy and teaching effectiveness remains largely unexplored. This gap in literature is significant because financially stable teachers tend to exhibit greater emotional engagement in their work, which has been shown to positively influence both student academic performance and well-being.

Despite the importance of financial literacy, many educators still face deficits in this area, which calls for targeted interventions to improve their financial knowledge and practices (Mula, 2025). To address these gaps, it is essential to integrate financial education into teacher training programs and offer ongoing professional development opportunities (Indefenso & Yazon, 2020). Financial literacy is not only about knowledge acquisition but also about developing the right attitudes and behaviors for making sound financial decisions. Research indicates that without adequate financial education, teachers may fall into the trap of borrowing money to meet financial needs, which further exacerbates their financial stress (Casingal & Ancho, 2021). Enhancing financial literacy among teachers is crucial, as it empowers them to navigate financial challenges and make informed decisions, ultimately improving both their personal financial stability and their effectiveness in the classroom (Casingal & Ancho, 2022).

Financially literate teachers can also serve as positive role models, imparting valuable financial knowledge and skills to their students (Rizwan & Ali, 2024). Therefore, initiatives aimed at improving teachers’ financial literacy can have a ripple effect, benefiting not only educators but also students and the wider community (Ebirim et al., 2024; Leonard, 2024). Sustainable initiatives create a cycle of empowerment, breaking the intergenerational transmission of poverty and fostering a culture of financial responsibility. It is equally important to consider teachers’ attitudes toward money and their behavioral patterns in the context of financial literacy (Casingal & Ancho, 2022).

Given the significance of financial literacy, governments play a crucial role in supporting teachers’ financial well-being (OECD, 2022). This support encompasses several key areas: providing adequate compensation, ensuring access to affordable healthcare, and offering opportunities for professional development specifically focused on financial literacy (Acera, 2024). By investing in teachers’ financial education and security, governments can contribute to improvements in the overall quality of education (Teacher Training Is Critical, 2023). A multi-faceted approach is needed, including the development of high-quality financial literacy programs and incentives for teachers to participate (Acera, 2024). These initiatives should aim to enhance teachers’ financial knowledge, skills, and confidence in managing their finances, which will promote financial well-being.

Continuous Professional development for teachers is crucial, as it improves teachers’ overall performance, effectiveness, and commitment to their profession (Acera, 2024). The researcher chose to focus on financial literacy as the topic for her research because she believes that teachers are the backbone of our society, and their financial stability is fundamental to their success and the success of their students. By exploring the financial challenges teachers face and identifying strategies to improve their financial literacy, the researcher hopes to contribute to a more equitable and sustainable education system.

This research aims to provide valuable insights into the factors affecting teachers’ financial well-being and offer practical strategies to enhance their financial literacy. Ultimately, it seeks to empower teachers to achieve financial security, improve their teaching performance, and positively impact their students’ lives.

What compelled the researcher to pursue this study was a personal observation of how many passionate and dedicated teachers in her own community—despite their commitment—struggled silently with financial burdens that affected their morale and well-being. This research is driven by a desire to shed light on those silent struggles and advocate for systemic change that honors teachers not just with words, but with meaningful support for their financial empowerment.

METHODOLOGY

Research Design

This study utilized descriptive-comparative-correlational research design. The descriptive component aimed to present the financial literacy levels and teaching performance of public-school teachers. The comparative aspect examined differences in financial literacy based on demographic profiles, while the correlational part assessed the relationship between financial literacy, teaching performance, and financial management challenges.

Descriptive research is widely used in education to portray current conditions without manipulation (Vetrivel & Priyadarsini, 2022). Comparative design helps identify group differences based on selected variables (Bizotto, 2023), and correlational design is appropriate for exploring relationships among naturally occurring variables (Furnari et al., 2020).

The combination of these approaches enabled a comprehensive analysis, allowing the researcher to draw meaningful insights that can support future financial literacy interventions and policy development.

Research Locale

This study was conducted at Bignay National High School (BNHS), located on Gitna Street, Barangay Bignay, Valenzuela City, Metro Manila. Established in 2004 as an annex of Valenzuela National High School, BNHS became independent in 2009 through Republic Act No. 9660. The school serves Grades 7 to 12 and offers Senior High School programs under the Academic and Technical-Vocational-Livelihood (TVL) tracks (Wikipedia, 2024).

BNHS was selected as the research site due to its large teaching population—the highest among public high schools in Barangay Bignay—providing a diverse sample for analyzing the relationship between financial literacy and teaching performance. Its urban setting also offers relevant context for understanding the financial realities faced by public school educators. Focusing on a single institution allowed for consistency in data collection and minimized variability caused by differing school policies or environments.

Respondents of the Study

This study involved all public-school teachers of Bignay National High School (BNHS) in Valenzuela City. A total of 120 teaching staff participated, consisting of 98 Teachers I–III, 14 Master Teachers (13 MT I and 1 MT II), and 8 department heads with teaching functions. BNHS was purposefully selected as it has the largest teaching population in Barangay Bignay, offering a diverse and representative sample of educators. Its urban context also provided a relevant setting for exploring the financial challenges and behaviors of public-school teachers.

Complete enumeration was employed as the sampling method. Since all 120 teachers had complete Individual Performance Commitment and Review Form (IPCRF) records, no further sampling was necessary. This approach minimized sampling bias and allowed for in-depth analysis of trends within a clearly defined population. As emphasized by Kaur and Kaur (2023), complete enumeration is appropriate when the population is accessible and manageable, ensuring the accuracy and reliability of data collection.

Research Instrument

This study utilized a researcher-made survey questionnaire as the primary data-gathering tool. Some items were adapted from an existing validated instrument, with permission from the original author, while additional questions were crafted by the researcher to align with the study’s objectives.

The instrument consisted of four parts: (1) demographic profile (e.g., sex, civil status, education, position, income, and loans); (2) financial literacy, covering financial knowledge, behavior, and attitudes, measured using a 4-point Likert scale; (3) financial challenges such as debt and lack of savings; and (4) teaching performance based on IPCRF indicators like curriculum planning, pedagogy, and reporting.

The questionnaire was reviewed and validated by experts, including a grammarian, content editor, statistician, and the research adviser. A pilot test with teachers from another public school confirmed the reliability of the tool, leading to revisions for improved clarity and consistency.

The survey was distributed through Google Forms, following approval from the school head. Ethical considerations—including informed consent, voluntary participation, and data confidentiality—were strictly observed. Collected data were encoded and analyzed using Excel and SPSS with the assistance of a statistician.

To ensure the validity of the instrument, a multi-step process was followed. Initial content validation was conducted by three academic experts: a college instructor from Valenzuela Technological College, a professor from a state university in Pangasinan, and a graduate school professor from Bulacan. Their recommendations strengthened the alignment of the instrument with the research objectives, leading to structural and semantic improvements.

Moreover, additional validation was carried out with the involvement of a grammarian, content editor, research adviser, panel members, and a statistician. Their collective input ensured the instrument was not only theoretically sound but also linguistically clear and technically appropriate for data collection.

The next step involved pilot testing with teachers from nearby public schools in Valenzuela City, who were not part of the actual study. Respondents were selected from similar groups to ensure relevance. During pilot testing, survey items that were unclear, misinterpreted, or inapplicable were reviewed and revised. This process helped verify the appropriateness, clarity, and confidentiality of the instrument’s content.

To assess reliability, Cronbach’s Alpha was computed. The results showed excellent internal consistency across all components: Financial Knowledge (α = 0.90), Financial Attitudes (α = 0.93), and Financial Behavior (α = 0.89), confirming the tool’s suitability for further analysis (Jehanzeb & Mushtaq, 2025).

The researcher ensured ethical compliance by maintaining strict confidentiality and refraining from disclosing any personal or identifiable information about the participants. All collected data were used solely for academic purposes and handled with care to protect respondent privacy.

The results of the reliability test, along with relevant tables and statistical data, are presented in the Appendices section of this study.

Data Gathering Procedure

The data collection methodology for this study was meticulously crafted to guarantee ethical adherence and uphold the precision and dependability of the responses. The researcher first secured consent from the Graduate School Dean following the validation and reliability assessment of the study instrument.

A formal request, along with a copy of the validated questionnaire, was subsequently filed to the Division Office of Valenzuela to obtain approval for conducting research at Bignay National High School. Following the division office’s approval, an official letter containing the division’s endorsement was dispatched to the principal of Bignay National High School to solicit permission for the distribution of the survey to the instructors. Upon receiving consent at the school level, the data collection process commenced.

To facilitate convenience and improve response rates, the researcher chose to disseminate the questions online via Google Forms. The questionnaire aimed to evaluate teachers’ financial literacy, financial practices, and financial challenges, using validated survey tools.

Before undertaking the survey, participants were informed of the study’s objectives, the confidentiality protocols established, and the voluntary aspect of their involvement. They were guaranteed that their involvement would remain confidential. Participants were allotted sufficient time to complete the questionnaire at their discretion.

Upon completion of the data collection process, the replies were aggregated and systematically arranged for statistical analysis to provide a thorough evaluation of the data.

RESULTS AND DISCUSSION

This part presents the gathered information and clearly explains what the results indicate.

Table 1.1 Profile of the Respondents in Terms of Sex

Table 1.1 illustrates the gender distribution among mentors and mentees within the context of Financial Literacy as Predictor of Teaching Performance. Out of the 120 public school teacher respondents, 80 (66.67%) were female, while 40 (33.33%) were male. This indicates that female teachers comprised a significant majority of the sample.

Women constitute a substantial portion of the teaching workforce globally. Data indicates that in the Philippines, female teachers made up 87.64% of the primary education workforce in 2021 (Philippines – Primary Education, Teachers (% Female), 2024). This aligns with observations that teaching is often a female-dominated field (Garcia et al., 2025), a trend seen across various regions. This gender distribution raises questions about the underlying factors, including cultural norms and the perception of teaching aligning with traditional gender roles (Garcia et al., 2025).

This distribution is relevant in interpreting the relationship between financial literacy and teaching performance, particularly if gender differences are found to influence financial behaviors or professional outcomes.

Table 1.2 Profile of the Respondents in Terms of Civil Status

Table 1.2 presents the frequency and percentage distribution of the respondents according to their civil status.

Among the 120 public school teacher respondents, the majority, comprising 62.50% (75), were married. Single respondents accounted for 35.83% (43), while only 1.67% (2) were widowed. No respondents reported being separated.

The predominance of married teachers in the sample reflects broader trends observed in the teaching profession, where married individuals often constitute a significant portion of the workforce (Giroux, 2019). Civil status can influence financial behavior, such as budgeting and financial decision-making, as married teachers are typically responsible for managing family-related financial obligations. Research suggests that married individuals may adopt different financial management practices compared to their single counterparts, which could, in turn, affect their financial literacy levels and teaching performance (Villagonzalo & Mibato, 2020). Therefore, the high proportion of married respondents in this study provides important context for understanding how financial behaviors may influence teaching outcomes.

Table 1.3 Profile of the Respondents in Terms of Educational Attainment

Table 1.3 presents the frequency and percentage distribution of the respondents based on their educational attainment. Out of the 120 public school teacher respondents, the majority (60.00%, n=72) had earned units towards a Master’s degree but had not yet completed it. A total of 20.00% (n=24) had attained only a Bachelor’s degree, while 14.17% (n=17) had completed a Master’s degree. Additionally, 2.50% (n=3) had earned units toward a Doctorate degree, and 3.33% (n=4) had completed a Doctorate degree.

The results denote that numerous respondents are engaging in additional studies, reflecting a dedication to professional development that could enhance financial literacy and improve teaching efficacy (Schindler & Cardona, 2023). Teachers with financial literacy are more proficient in imparting financial education, as they possess a deeper comprehension of the subject matter and exemplify positive financial behaviors.  As educators from various disciplines frequently instruct on financial subjects, adequate training and resources are essential (Compen & Schelfhout, 2021).

Table 1.4  Profile of the Respondents in Terms of Years of Service in The Public School System

Table 1.4 shows the frequency and percentage distribution of the respondents based on their years of service in the public school system. Among the 120 public school teacher respondents, the largest proportion (28.33%, n=34) had served for more than 15 years. Respondents with 6–10 years of service accounted for 24.17% (n=29), while those with 11–15 years of service comprised 22.50% (n=27). Teachers with 1–5 years of service represented 21.67% (n=26), and only 3.33% (n=4) had less than one year of service.

The distribution of respondents based on their years of service indicates a substantial proportion of teachers with over 15 years of experience, suggesting a sample that is rich in seasoned educators. This aligns with the prevailing consensus in educational research that teaching experience correlates positively with enhanced teacher performance.

According to Zulkarnain et al. (2021), greater teaching experience enhances performance by allowing teachers to accumulate knowledge, adapt to the evolving educational landscape, and refine their teaching strategies.

The greater number of experienced teachers in this study is likely to be a critical factor in comprehending the relationship between teaching performance and financial literacy, given these insights.  Experienced educators may exhibit more sophisticated financial management strategies, which could offer valuable insights into the ways in which financial literacy affects their professional performance

Table 1.5 Profile of the Respondents in Terms of Current Position

Table 1.5 illustrates the frequency and percentage distribution of the respondents in accordance with their current position within the public education system.  Among the 120 respondents, Teacher I was the most prevalent designation, with 40.00% (n=48) holding the position.  The following positions were Teacher II, which accounted for 27.50% (n=33) of the respondents, and Teacher III, which accounted for 10.83% (n=13).  In the interim, Master Teacher I comprised 13.33% (n=16), Master Teacher II comprised 1.67% (n=2), and Head Teachers comprised 6.67% (n=8).  The direct correlation between position and salary grade in the Philippines is a significant factor in the distribution of teachers in entry- to mid-level positions (Aml, 2025).

These lower salary grades can lead to financial challenges, limiting teachers’ ability to meet obligations, save, and manage unexpected expenses (Casingal & Ancho, 2021, 2022). Studies suggest that public school teachers in the Philippines often perceive themselves as low-waged workers and have a higher propensity to borrow money (Casingal & Ancho, 2022). This financial strain can impact their teaching performance by diverting attention from professional development and effective teaching practices (Casingal & Ancho, 2022). While position and salary are important, financial literacy education and individual skills also play a role (Beckker et al., 2019).

Table 1.6 Profile of the Respondents in Terms of Monthly Basic Salary (Before Deductions)

Table 1.6 presents the frequency and percentage distribution of the respondents based on their monthly basic salary before deductions. Of the 120 respondents, the largest group (43.33%, n=52) reported a monthly basic salary ranging from ₱30,001 to ₱40,000. This was followed by 32.50% (n=39) earning between ₱20,000 and ₱30,000. Meanwhile, 10.00% (n=12) each earned either ₱40,001 to ₱50,000 or above ₱50,000. Only a small portion, 4.17% (n=5), had a monthly basic salary below ₱20,000.

These findings suggest that the majority of teachers in this sample fall within the mid-range salary brackets, a factor that can significantly influence their financial literacy, financial behaviors, and, consequently, their teaching performance. Considering that teachers’ financial well-being can impact their effectiveness in the classroom, understanding these salary distributions is crucial (Beckker et al., 2019).

Table 1.7 Profile of the Respondents in Terms of Estimated Monthly Net Income (after deductions)

Table 1.7 shows the distribution of the respondents based on their estimated net income per month after deductions is illustrated as a frequency and percentage distribution in Table 1.7.

Among the 120 respondents, the highest proportion (34.17%, n=41) reported an estimated net income between ₱20,001 and ₱30,000. This was followed by 23.33% (n=28) earning below ₱10,000, 20.00% (n=24) earning between ₱10,000 and ₱15,000, and 17.50% (n=21) earning between ₱15,001 and ₱20,000. A small portion, 5.00% (n=6), reported a net income above ₱30,000.

These findings suggest that although a sizable percentage of respondents make between ₱20,001 and ₱30,000 per month, a sizable percentage make less than ₱20,000, which may have an effect on their ability to manage their finances and, in turn, on some areas of their performance as teachers. This low net income is the result of several factors. Teachers’ take-home pay is drastically reduced by mandatory deductions like taxes and contributions to the Government Service Insurance System, PhilHealth, and Pag-IBIG Fund (Zoleta, 2022).

Another significant factor is loan obligations; many teachers have large debts, which results in additional deductions (Reysio-Cruz, 2019). Compared to other government workers, public school teachers in the Philippines are more likely to take out loans, with some having to use non-accredited lending institutions (Casingal & Ancho, 2022). These financial difficulties may negatively impact their financial well-being and lead to a debt cycle (Casingal & Ancho, 2021), which may affect their ability to concentrate and perform well in class (Dadang & Ferenal, 2024).

Table 1.8 Profile of the Respondents in Terms of Number of Active Loans

Table 1.8 presents the frequency and percentage distribution of the respondents according to their number of active loans. Among the 120 respondents, the majority (57.50%, n=69) reported having one to two active loans. This was followed by 29.17% (n=35) who had three to four active loans. Meanwhile, 10.83% (n=13) indicated having no active loans, and only 2.50% (n=3) reported having five or more loans.

These results imply that the majority of respondents are currently juggling a number of financial commitments, which may have an impact on their financial well-being and teaching effectiveness. The frequency of multiple loans among Philippine public-school teachers has been brought to light by recent studies. Many teachers use informal borrowing practices, which result in numerous financial obligations, according to Casingal and Ancho (2021).

Likewise, Leomar et al. (2022) noted that educators frequently turn to both official and informal lending sources, creating a debt cycle that affects their well-being and financial security. Additionally, a contributing factor to the accumulation of numerous loans is a lack of financial literacy. According to Casingal and Quimson (2023), teachers’ inadequate knowledge of money management techniques, like saving and budgeting, results in bad financial choices and a rise in debt. This emphasizes the necessity of focused financial literacy initiatives to assist educators in efficiently managing their money and minimizing their dependency on numerous loans.

Table 2.1  Area of Financial Literary Where Teachers Show the Most Significant Gap in terms of Financial Knowledge

The above table shows the weighted mean and verbal interpretation of the respondents’ financial knowledge based on various indicators. A weighted mean is a way of calculating the average that gives more importance to some answers than others, depending on how often or how strongly they were chosen. This helps show a clearer picture of the group’s overall response.

The results show that, with an overall weighted mean of 3.13, respondents generally displayed a good degree of financial knowledge. Digital banking use (3.38) and fraud avoidance (3.27)—two items with the highest ratings—were both seen as Very High, meaning excellent digital financial and fraud prevention abilities. With means ranging from 2.78 to 3.22, other areas including budgeting, loans, interest rates, inflation, savings, retirement, emergency funds, and insurance likewise got high ratings. Although the general findings point to a strong basis in financial knowledge—especially in digital finance—there is still need for development in areas including investment and insurance literacy.

This emphasizes the rising relevance of digital financial skills in the modern economy (Mula, 2025) but also underlines how knowledge gaps might impede financial inclusion (Koya et al., 2021). Still vital are consumer protection and financial education (Dzomira, 2017; Vishwakarma et al., 2019).

Table 2.2 Area of Financial Literary Where Teachers Show the Most Significant Gap in terms of Financial Behavior

Table 2.2 shows the weighted mean and verbal interpretation of respondents’ financial behaviors in four important areas—investment, debt management, budgeting, and savings. Although there were still some areas that could use improvement, the overall weighted mean of 3.07, or “Almost Always,” indicated generally positive financial behavior.

Weighted means for savings varied from 2.76 to 3.13, indicating that although respondents try to save, their methods might not be systematic or consistent. This is in line with research by Hogarth et al. (n.d.), who highlighted how goal setting, automation, and flexibility are three ways that financial literacy improves saving behavior. Accordingly, the findings point to the necessity of ongoing financial education in order to assist respondents in forming more methodical and reliable saving practices.

With weighted means ranging from 3.25 to 3.42, or “Always,” budgeting was found to be a strong area. The respondents stated that they prioritized necessary expenses, frequently compared prices, and spent within their means. These results concur with those of Asia (2023), who emphasized budgeting as a means of achieving long-term planning and financial stability by enabling people to efficiently control spending and stay debt-free.

The majority of indicators, such as timely bill payments and avoiding high-interest loans, were rated as “Always,” yielding means between 3.34 and 3.54, indicating that respondents had strong debt management skills. The somewhat lower score of 3.24 for debt management without taking out new loans, however, indicates sporadic difficulties.

This illustrates the connection between bad debt practices and a lack of financial literacy (Casingal & Ancho, 2021). Mula (2025) points out that access to tools and digital financial literacy are critical in determining financial behavior. To enhance long-term debt management, it is still crucial to promote sustainable borrowing practices and strengthen financial education (Basics of Debt Management, 2025; Debt Management and Financial Planning, 2025).

Investment was the weakest area. Long-term investment practices, like launching a business or saving for future opportunities, were rated lower (2.43 to 2.49, or “Almost Never”) than short-term investment actions (2.81 to 3.13). This implies hesitancy or insecurity regarding wealth-building tactics. Kaur and Batra (2023) connected a lack of exposure to investment tools and deficiencies in digital financial literacy to low investment activity, especially among women.

Overall, respondents showed modest consistency in saving, little involvement in long-term investments, and responsible financial behaviors in debt management and budgeting. These trends imply that although fundamental financial practices are sound, focused interventions are required to enhance savings and investment confidence. Sahni (2023) highlights that financial literacy is insufficient on its own because financial attitudes and tool accessibility also influence behavior; underscoring the significance of comprehensive financial education initiatives.

Table 2.3  Area of Financial Literary Where Teachers Show the Most Significant Gap in terms of Financial Attitude

Table 2.3 presents the weighted mean and the corresponding verbal interpretation of the respondents’ financial attitude. With an overall weighted mean of 3.15, or “Almost Always,” the table shows that respondents typically maintain a positive financial attitude. This indicates a positive attitude toward financial management, which, along with financial literacy and social influence, is essential in forming responsible financial behavior (- & Sahni, 2023).

Financial awareness and decision-making were highly valued, as evidenced by the highest-rated items, “Financial knowledge is essential for informed life decisions” (3.52) and “I actively monitor my personal and family finances” (3.34), both of which were interpreted as “Always.

The means for other indicators, like evaluating investments, setting financial goals, and keeping informed, ranged from 3.11 to 3.21, showing that while these behaviors are present, they are not yet consistent for all respondents.

Even though these attitudes show promise, consistent implementation is still essential for long-term financial stability. Even among people who have positive attitudes, factors like income, access to resources and financial shocks can affect behavior. People frequently struggle to cope with unforeseen shocks like illness or losing their jobs (Hamid et al., 2023). The key is financial resilience, which is related to the capacity to handle financial shocks (Hamid et al., 2023). Deficits in digital literacy may also be major obstacles to financial inclusion (Mula, 2025).

Moderate agreement was indicated by lower ratings (mean = 2.95) for attitudes toward debt and saving, such as using loans sensibly or considering debt strategically. Comfort with debt varies with risk perception and financial stability, and strategic borrowing necessitates both confidence and financial literacy.

In conclusion, the respondents show strong attitudes regarding the importance of financial monitoring and knowledge; however, there is potential for improvement in areas such as consistent debt management and saving to promote long-term financial resilience.

Table 2.4 Summary of the Level of Financial Literacy of Respondents

Table 2.4 summarizes the weighted means and corresponding verbal interpretations of the respondents’ level of financial literacy across three dimensions: financial knowledge, financial behavior, and financial attitude. The results show that the respondents achieved a “High” level in all three areas, with weighted means of 3.13 for financial knowledge, 3.07 for financial behavior, and 3.15 for financial attitude.

The analysis shows that the respondents tend to have a “High” level of financial literacy concerning knowledge, behavior, and attitude in relation to assuming that financial literacy is a multi-dimensional construct (Fernández-López et al., 2022). The “High” level indicates a well-built grasp of understanding financial concepts, executing appropriate financial behaviors, and harboring a constructive attitude towards finances.

The overall weighted mean is recorded as 3.12 which can also be interpreted as ‘high defining that the level of financial literacy among respondents is high. As financial literacy aligns with behavior, it tends to significantly influence one’s overall financial wellbeing. This suggests financial literacy serves as an important determinant of good financial behavior (Mahmudi & Listiyani, 2019).

To add on, a well-defined attitude impacts behavior greatly. This shift improves the way finance is managed and even planned for in the future (Rufino et al., 2024; Widyakto et al., 2022).

Although the findings gathered from the participants are encouraging, there is still scope for improvement. Working towards greater retention of specific financial habits; a deepening of one’s comprehensive financial understanding, and revisions to one’s approaches regarding investing present noteworthy opportunities. Moreover, exploring the role of digital literacy in behavioral finance would be worthwhile given the pace at which technology is permeating the financial services sector (Rehman & Mia, 2024).

 Table 3.1 Summary of the Level of Engagement of Respondents in Financial Behavior

Table 3.1 summarizes the weighted means and corresponding verbal interpretations of the respondents’ level of engagement in various aspects of financial behavior, specifically in savings, budgeting, debt management, and investment. The results indicate that budgeting and debt management achieved weighted means of 3.30 and 3.40 respectively, both interpreted as “Always,” suggesting that respondents consistently engage in responsible budgeting practices and effectively manage their debts. This is coherent with Dew and Xiao’s (2011) findings, which emphasize that responsible financial management is key to financial well-being. Similarly, Bhovi et al. (2024) highlights that individuals with strong budgeting and debt practices are more likely to achieve financial stability.

On the other hand, savings and investment obtained weighted means of 2.89 and 2.75 respectively, both interpreted as “Almost Always,” indicating that while prioritized, these areas are not consistently practiced.

Several factors could explain this gap. Digital literacy deficits can represent fundamental barriers to financial inclusion, potentially hindering access to and effective use of digital saving and investment tools (Mula, 2025). It’s also been shown that investors’ saving habits are influenced by demographic factors (Prasad et al., 2020). Therefore, interventions should also consider digital literacy and aim to promote financial inclusion (Mula, 2025).

With an overall mean of 3.08, the results show that although respondents exhibit good financial behavior, savings and investment for long-term security need work. Behavior is mostly driven by financial knowledge, thus focused education in these spheres is still vital (Dwivedi et al., 2021). Especially among younger generations, consistent saving develops financial resilience (Hamid et al., 2023) and should be ingrained early on. Good financial planning depends on enough savings; thus, even if changing contributions is fine, long-term goals like retirement should not be overlooked (Volpe, 2025).

Table 4.1 Summary of Teacher’s Performance Based on IPCRF

Table 4.1 presents the weighted means and corresponding verbal interpretations of teacher performance ratings based on the IPCRF, using a five-point Likert scale. The data show that most teachers received high performance ratings, with the overall weighted mean of 4.35, which is interpreted as “Outstanding.” Specifically, Teacher I earned a weighted mean of 4.23 (Outstanding), while Teacher II achieved a slightly higher mean of 4.45 (Outstanding). Teacher III had the highest mean of 4.54 (Outstanding), signaling excellent performance within this group. Master Teacher I also received an Outstanding rating with a mean of 4.38, whereas Master Teacher II was rated as “Very Satisfactory” with a mean of 4.00. Similarly, the Head Teacher group received an Outstanding rating, with a weighted mean of 4.38.

Generally high ratings suggest a strong teaching force, consistent with research that underscores the importance of teachers’ commitment to meeting professional standards, which is a key driver of teaching effectiveness (Toropova et al., 2020). However, some variations within the ranks were observed.

For example, Teacher III had the highest weighted mean, while Teacher I scored slightly lower. Master Teacher II also received a “Very Satisfactory” rating compared to Master Teacher I’s “Outstanding” rating. These differences could stem from factors such as experience levels, subject matter expertise, or the unique challenges faced at different career stages. Effective professional development is crucial for improving teachers’ overall performance, effectiveness, and commitment to their profession (Acera, 2024).

The decrease in rating for Master Teacher II as compared to Master Teacher I may stem from the increased administrative tasks usually associated with peripheral higher ranks, or the multifaceted instructional settings encountered by veteran educators. Coaching and mentoring distinct practices aimed at assisting teachers in meeting new role expectations are vital for both the cultivation of teacher skills and fostering a culture of improvement (Rogayan, 2024). The impact of these teacher leadership behaviors on the quality of instruction, achievement, and institutional progress is profound (Akman, 2021).

These findings highlight the complexity of teacher evaluation, suggesting that it is important to consider more than just numerical performance ratings. Incorporating qualitative data—such as classroom observations and teacher interviews—could provide deeper insights into the nuances of teacher performance across different ranks.

Overall, the results suggest that most teachers, regardless of rank, are demonstrating a high level of professional performance, consistently meeting or exceeding expectations. Only a small fraction of teachers was rated “Very Satisfactory,” with no teachers rated below this level, reinforcing the strength of the overall teaching performance.

Table 5.1 Challenges Encountered by the Respondents in Managing their Finances

Table 5.1 presents the weighted mean and verbal interpretation of the respondents’ experiences with various financial challenges. The data reveals an overall weighted mean of 2.68, which is interpreted as “Almost Always,” indicating that respondents frequently encounter financial difficulties in managing their personal finances.

Financial issues may arise not just from low income, but from poor financial management skills, such as improper use of credit or lack of investment knowledge (Khasanah, 2019).

Most items, such as managing monthly salary and budgeting (3.15), income insufficiency for daily expenses (2.78), dealing with high-interest loans (2.68), and handling unexpected expenses (3.05), are interpreted as “Almost Always,” suggesting that these financial challenges are common and consistently experienced by the respondents reflecting broader concerns among Filipino public-school teachers (Casingal & Ancho, 2022).

Additionally, challenges related to planning for retirement (2.79) and limited investment knowledge (2.71) were also rated as “Almost Always,” highlighting gaps in long-term financial preparedness. Many teachers struggle financially and unknowingly fall into informal debt cycles due to limited financial education (Casingal & Ancho, 2021).

Items like financial stress impacting work performance (2.43) and failing to meet financial obligations on time (2.09) were rated as “Almost Never,” meaning that while financial stress exists, it does not usually disrupt the respondents’ professional responsibilities or their capacity to meet basic financial obligations. This is consistent with research showing that teachers show resilience by means of coping mechanisms even if they are financially stressed (Tagapulot & Macalisang, 2024). Among these techniques could be changing expenditure and consulting a financial advisor.

Overall, the findings suggest that while respondents often face challenges in managing income, dealing with unexpected costs, and preparing for the future, they still manage to fulfill essential financial obligations and maintain their work performance.

Table 5.2 Common Financial Problems of the Respondents

Table 5.2 presents the frequency, percentage, and rank of the respondents identified common financial problems. The findings show that the most prevalent financial problem is “Insufficient salary to cover daily expenses,” with a frequency of 88 or 73.33%, ranked first. This is closely followed by “Unexpected expenses (e.g., medical bills, family emergencies)” with 81 respondents (67.50%) at second rank, and “Struggling to save for future needs (e.g., retirement, emergency fund)” with 77 respondents (64.17%) at third rank.

Other significant financial concerns include “Challenges in securing additional income sources (e.g., sideline jobs, business)” (56.67%, Rank 4) and “Difficulty in budgeting monthly income” (50.00%, Rank 5). These findings align with the broader context of financial challenges faced by public school teachers, which often stem from family needs, education expenses for their children, and the rising costs of healthcare (Tagapulot & Macalisang, 2024). Many teachers also need a side hustle to cover living expenses (Baratz, 2019).

The inability to budget monthly income signals a gap in financial literacy skills (Casingal & Ancho, 2022). Financial strain can influence productivity, and even though respondents indicated that it “Almost Never” impacts work obligations, resolving such financial issues is essential for their holistic health and workplace contentment (Stanford-Led Study Finds Link between Teachers’ Financial Anxiety and Job Performance, Including Attendance and Turnover, 2020). One of the key informants described having difficult socio-economic circumstances and that the net pay take-home income from the salary received is exceedingly low because of the loan repayments.

Overall, the data highlights that most respondents experience issues primarily related to income insufficiency, unexpected expenses, and difficulties in saving for future financial security. Meanwhile, challenges like financial stress affecting work performance and delays in bill payments, though at present, are relatively less common among the participants.

Table 6.1 Relationship between Financial Literacy Levels and Teaching Performance

Table 6.1 displays the statistical test findings on financial literacy and teaching performance.  The calculated Pearson correlation coefficient (𝑟) of -0.0022 suggests a weak or no association, according to the interpretation scale.  Though the negative sign indicates a little inverse trend, the value is so close to zero that it is negligible.

The calculated t-value of -0.0239 is below the threshold t-value of 1.980 at a significance level of α = 0.05.  The decision is to not reject the null hypothesis (H₀).  This suggests no statistically significant association between respondents’ financial literacy and teaching performance.

Teaching effectiveness is complex and multifaceted, since there is no statistically significant association between teaching competence and financial literacy.  Financial literacy is important for financial stability and stress reduction (Arroyo & Bayani, 2024), but it appears to have minimal effect on educational achievement in this environment.

This may be due to varied competences.  Classroom management, subject-matter competence, pedagogical abilities, and student engagement all affect teaching success (Saleem et al., 2020; Tinaytina, 2022).  These skills differ from financial literacy, which handles personal finances.  The two domains function separately, thus financial literacy may not necessarily help academic success.

A threshold effect may explain it.  Respondents may have basic financial knowledge that prevents financial hardship.  After reaching this level, financial literacy improvements may not improve instruction (Arroyo & Bayani, 2024).  Financial knowledge may help reduce work-related stress, but its effects may fade.

The absence of connection may also be due to other variables that directly affect teaching quality.  Leadership support, professional motivation, work happiness, and growth opportunities may affect teaching effectiveness more (Acera, 2024; Saleem et al., 2020; Akman, 2021).  These variables may have lessened or eclipsed financial literacy’s influence.

Respondent characteristics may have been relevant.  According to research on Filipino public-school teachers, respondents may have had comparable financial literacy due to frequent financial commitments, therefore there may not have been enough diversity in replies to find a link (Casingal & Ancho, 2022).  Sample-wide financial literacy uniformity may explain the absence of statistical significance.

Additional data supports this interpretation.  Teachers indicated good financial literacy despite constrained budgets, high-interest loans, and poor retirement planning.  The impact of financial stress on work and missed duties was minor, but their professional performance scores were excellent.  This is a clear disconnect between professional standards and financial concerns.

This supports past research that revealed teachers often change their spending habits or consult financial experts to manage financial stress (Tagapulot & Macalisang, 2024).  Financial literacy promotes personal well-being but may not improve teaching outcomes, according to resiliency.  Wei et al. (2024) noted that financial stress might confront stressors and cause adaptive, problem-oriented responses.  The lack of an association between financial literacy and performance may be due to teachers’ ability to separate their personal and professional finances.

In conclusion, financial literacy and teaching efficacy are unrelated due to the two domains’ independence, instructors’ financial stress tolerance, and other performance characteristics.  Financial literacy may indirectly affect teaching results through emotional well-being, stress management, and work satisfaction.  However, it is essential for personal and financial well-being.

Table 7.1 Relationship between Financial Literacy Levels and Problems Encountered

A slight negative association exists between “Financial Literacy” and “Challenges Encountered” (r = -0.267, range: ±0.20 to ±0.39).

The calculated t-value of -3.0145 surpasses the threshold limit of ±1.980 at a 0.05 significance level.  This rejects the null hypothesis (H₀) that financial literacy levels do not significantly impact difficulties faced.

This suggests that financially competent individuals have fewer financial issues including debt management, budgeting, and retirement planning.  Despite its weakness, the connection shows how financial knowledge improves teachers’ financial management.

This study demonstrated that most instructors had a high financial literacy foundation, demonstrating their favorable attitude toward money management, responsible financial conduct, and financial ideas.  This foundation may help them handle unexpected financial pressures and make smarter financial decisions.  Lack of income and poor money management are both causes of financial problems, according to Khasanah (2019).  Thus, literacy reduces these issues.

Remember that financial literacy alone cannot fix financial problems.  Teachers nevertheless experienced financial difficulty, especially in areas with high inflation, low pay, and high living costs.  These external constraints can stress even well-informed people.  Without institutional or systemic assistance, financial literacy is limited.

However, respondents tended to tackle their issues without letting them impair their work performance.  Tagapulot and Macalisang (2024) found that many instructors utilize adaptive measures to preserve financial stability, such as adjusting spending patterns or consulting financial experts.  Wei et al. (2024) note that seeing financial stress as a challenge might enable goal-directed coping rather than feeling overwhelmed.

Financial knowledge reduces the severity of financial problems and boosts resilience, but it is not a complete protection.  These findings emphasize the importance of continued financial education and needs-based assistance for educators, especially in financially stressed contexts.

Table 8.1  Relationship between the Level of Financial Literacy and their Demographic Profile

Table 8.1 shows the chi-square tests used to determine the relationship between respondents’ financial literacy and their demographic and financial profiles, including sex, civil status, educational attainment, years of public-school service, current position, monthly basic salary (before deductions), estimated monthly net income (after deductions), and number of active loans.

 All variables have chi-square values below their critical values at the 0.05 level of significance, including sex (χ² = 0.029 < 5.991), civil status (χ² = 0.291 < 9.488), educational attainment (χ² = 0.230 < 15.507), years of service (χ² = 0.312 < 15.507), current position (χ² = 0.284 < 18.307), monthly basic salary (χ²).

All scenarios result in failing to reject the null hypothesis (𝐻₀).  We found no statistically significant association between respondents’ financial literacy and any demographic or financial profile characteristic.

The study found that sex, civil status, educational attainment, years of public-school service, current position, monthly basic salary, estimated monthly net income, and number of active loans did not affect financial literacy.

This means that financial literacy appears to function independently of these background characteristics in this investigation.  Our sample did not show connections between financial literacy and demographic characteristics as gender, education, or income (Akbulaev & Mammadova, 2021).  Several contextual or methodological variables may explain this divergence from previous research.

One possible explanation is sample uniformity. This study’s respondents were mostly public-school teachers with comparable socioeconomic and professional backgrounds, therefore their financial literacy increased little.  The OECD/INFE Toolkit for Measuring Financial Literacy (2022) warns that minimal score variance in surveys of homogeneous groups may make statistically significant results inconsequential.

The sample size may have contributed to the non-significant results. Smaller samples reduce chi-square test statistical power, making correlations harder to uncover.  A complex interplay of cognitive, behavioral, and experience factors, many of which go beyond demographic and financial data, shapes financial literacy. According to the OECD (2022), financial literacy includes knowledge, skills, attitudes, behaviors, and contextual awareness.

It’s crucial to distinguish statistical from practical importance.  Despite the lack of a statistically significant correlation, demographic and financial factors may nonetheless affect financial literacy in different contexts.  Lee (2025) notes that statistical insignificance does not necessarily invalidate practical value, especially in sectors where complex and dynamic factors affect behavior and decision-making.

These variables imply that future financial literacy research should be more comprehensive and multifaceted.  Dewi (2022) suggests integrating behavioral and attitudinal variables into knowledge-based examinations to better measure financial capability.  Qualitative methods or expanding the population might reveal hidden effects that quantitative instruments miss.

In this study, demographics and financial profiles did not affect financial literacy.  This suggests that inclusive financial literacy programs should address diverse needs and experiences, regardless of background, and that future financial literacy research should use more generic, integrated frameworks.

SUMMARY

Profile of Respondents:

The majority of respondents were female (66.67%) and married (62.50%). Most held advanced educational qualifications, with 60% pursuing a master’s degree. The largest group had over 15 years of teaching experience. Many held Teacher I positions (40%) and earned gross salaries ranging from ₱30,001–₱40,000. However, a notable portion reported net incomes below ₱30,000 and had one to two active loans, indicating financial vulnerability.

Areas of Financial Literacy:

Teachers showed high digital banking and fraud prevention knowledge but scored lower in investment and insurance topics. Budgeting and debt management were rated positively, but savings and investment behaviors were inconsistent. Attitudes toward financial responsibility were generally strong.

Financial Behavior and Challenges:

Overall, teachers demonstrated good financial behavior, especially in budgeting and avoiding high-interest loans. However, saving habits and long-term investments were limited. Common financial challenges included low income, unexpected expenses, and difficulty saving. Financial stress was rarely seen as affecting work performance.

Teaching Performance:

Teachers received high performance ratings, with all ranks averaging “Outstanding” on the IPCRF, except Master Teacher II, who was rated “Very Satisfactory.”

Relationships Between Variables:

No significant correlation was found between financial literacy and teaching performance (r = -0.0022; t = -0.0239).

A weak but significant negative correlation was found between financial literacy and financial challenges (r = -0.2674; t = -3.0145), indicating that better financial knowledge slightly reduces financial problems.

No significant relationship was observed between financial literacy and demographic factors, such as sex, salary, or position.

CONCLUSIONS

1. Most public-school teachers are married women with high education and dedication, yet many hold mid-level roles and earn moderate salaries. Despite long service, they face financial strain, highlighting the need for better financial and career support.
2. While teachers are skilled in digital banking and fraud prevention, they lack knowledge in investments and insurance—pointing to the need for focused, advanced financial education.
3. Teachers generally budget and manage debt well, but have limited savings and investments, stressing the need to boost saving habits and investment confidence.
4. IPCRF results show high teaching performance, with most rated “Outstanding,” reflecting strong professional standards.
5. Despite good financial habits, teachers often face financial challenges like low income and emergency costs. Yet, they report these do not affect their performance, indicating personal-professional stress separation. Systemic financial support remains crucial.
6. No significant link was found between financial literacy and performance, suggesting that institutional support sustains quality teaching. Further study is needed on long-term effects of financial stress.
7. A weak negative correlation exists between financial literacy and financial difficulties. Financial knowledge helps but doesn’t resolve issues like low wages—systemic solutions are still needed.
8. Financial literacy doesn’t strongly correlate with demographics, suggesting it’s shaped more by access and personal interest. Inclusive financial training should be provided to all educators.

RECOMMENDATIONS:

1. Implement Financial Wellness Programs. Create school-based programs focused on budgeting, saving, debt, and long-term planning for financially vulnerable teachers.
2. Broaden Financial Literacy Training. Include advanced topics like investments, insurance, and retirement planning in professional development.
3. Boost Saving and Investment Confidence. Offer workshops, tools, and peer-sharing to build practical knowledge and reduce fear of investing.
4. Provide Affordable Credit Options. Partner with accredited lenders to give teachers access to low-interest loans and avoid predatory lending.
5. Support Financial Resilience. Include emergency funds, counseling, and savings plans in teacher welfare programs to reduce stress.
6. Encourage Further Research. Study the long-term effects of financial stress on burnout, motivation, and retention.
7. Ensure Fair Career Advancement. Review promotion systems to avoid clustering experienced teachers in lower positions and link growth to financial well-being.
8. Make Financial Education Inclusive. Offer training to all teachers, regardless of age, income, or rank, recognizing diverse learning paths.
9. Add Financial Literacy to Pre-Service Training. Teach financial basics in teacher education programs to prepare future educators early.
10. Track Program Effectiveness. Monitor financial programs and connect results to teacher satisfaction, well-being, and retention.

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APPENDICES

Appendix A

Survey Questionnaire

APPENDIX B

Cronbach Alpha Results

APPENDIX C

Statistical Treatment Results

Demographic Profile