Financial Literacy of Professional and Pre-Service Teachers in the Philippines

Abstract

A financial literacy survey among one thousand, nine hundred twenty four (1924) professional and pre-service teachers across different regions of the country is the basis of the study. With the permission standardized tool was used to gather data from the randomly selected respondents from different public and private schools, colleges and universities from Luzon, Visayas and Mindanao. The findings revealed that both professional and pre-service teachers have very low basic and sophisticated financial literacy skills. Thus, financial illiteracy is common among educators which reflect their students’ financial literacy skills and the economic condition of the majority of the Filipino people. Curriculum inclusion of financial education to both basic and higher education is recommended to improve the financial knowledge, behaviour and attitudes among teachers and students which, in turn, spells a better economic growth and development of the country.