Smart Money: Teachers’ Financial Literacy

Abstract

In an increasingly risky and globalized marketplace, people must be able to make well-informed financial decisions. The emergent evolution of new products and technologies are fundamentally changing a person’s viewpoint and manners related to money. One of the issues that can help and give a positive effect on making financial decisions is financial literacy.This phenomenological study explored and described the experiences of teachers of Ilocos Sur Polytechnic State College on financial literacy. The study involved 5 teachers/Instructors who were selected based on their age, gender, marital status, number of children, and nature of work of spouse. Based from the results, four themes had emerged, namely: Financial Contentment, Financial Strategies, Budgeting and Saving. This research revealed that teachers are financially contented with their present financial status, financial strategies are done to cope up with the financial problems that teachers encounter and proper budgeting and saving are done to manage teacher’s financial decisions.