The Interplay Between Financial Literacy, Financial Technology and Financial Behaviour of High School Teachers in an Emerging Economy

Abstract

This study examined the influence of financial literacy and financial technology on the financial behaviour of high school teachers in an emerging economy. The use of financial technology comes with widely documented advantages, however, the increasing diversity of financial technology products available is found to have complicated many people in emerging economies. The availability of information has made it easier for people to make irresponsible financial decisions, which have resulted in higher levels of debt. While teachers play a meaningful role in financial literacy education, research points out they still need to undergo financial literacy education themselves in order to improve their financial management expertise, more so in the digital era. A scientific questionnaire was distributed to 246 high school teachers who were chosen on a probability basis using systematic random sampling. The research data were subject to correlation analysis. The results show that high school teachers have a good grasp of financial technology, and they possess strong financial literacy skills. The correlation analysis indicated that financial literacy skills are the most important attribute influencing financial behavior of high school teachers.