A Financial Literacy Program for Public School Teachers

This study analyzed the public school teachers' basic knowledge and understanding of managing their finances and looking at the bigger picture of financial literacy. A financial literacy program exclusively designed for public school teachers was created from the data and results gathered through online survey questionnaires, FGD, and interviews. It was conducted in the school year 2019-2020. 12 participants contributed for FGD and interviews. A total of 325 teacher respondents answered the online survey questionnaires. The results showed that the majority of the public school teachers are not satisfied with their current financial status and are struggling financially. This results in a controlled and limited financial lifestyle. Moreover, teachers unconsciously practice informal debt which causes uncontrolled debt. Without proper knowledge and education to financial literacy, borrowing money becomes a lifestyle of every teacher in the country. Based on the findings, a financial literacy program must be included in every In-Service Training (INSET) or any division-wide mass gathering of teachers. Thus, proper allocation of budget incentives is allotted to the speakers and participants. The financial literacy program may be implemented by all participating schools where the study was conducted. Future research related to financial literacy programs may be conducted in basic education, colleges, and universities following the method used in this study.