Association between financial literacy and life satisfaction among teaching and non-teaching personnel of essu salcedo campus

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Author: 
Marcia D. Abrajano and Judith Ty-Pelobello
Subject Area: 
Social Sciences and Humanities
Abstract: 

The study aimed to determine the financial behaviour, attitude and fitness of the faculty members and Non-teaching personnel of Eastern Samar State University Salcedo Campus during the school year 2015-2016. Descriptive-correlation survey method of research was used in the study to determine the association of financial behaviour, financial attitudes and financial fitness of the employees in ESSU Salcedo Campus. Using descriptive statistics and correlation coefficient set at 0.05 level of significance, the study revealed the following: Majority of the faculty in ESSU Salcedo Campus were married with the age bracket of 40 years old and above (36.7%), with monthly family income of Php 16,000-25,000. Most of them have earned a master’s degree (30%), with academic rank as instructors (50%) and served for 21 years and above in teaching experience (40%). As to the financial behaviour of the faculty in ESSU - Salcedo Campus, it was noted that most of the faculty have moderate financial behaviour comprising of 13 or 43.3%. Likewise, the faculty has moderately favourable financial attitude comprising of 11 or 36.7 percent. In addition, the respondents were considered financially healthy (43.3%). Furthermore, as to life satisfaction, the faculty found to be highly satisfied with their lives with 46.7%. With regards to the relationship between the respondents’ demographic profile in terms of age, sex, marital status, highest educational and educational attainment, academic rank, monthly family income and length of teaching experience, financial literacy to life satisfaction, it was found out that the demographic profile were not significantly correlated to life satisfaction with the indices of 0.390, 0.299, 0.320, 0.394, 0.452, 0.470, 0.441 and with a p- values of 0.570, 0.750, 0.804, 0.543, 0.267,0.150 and 0.275, respectively. As to the relationship between financial literacy and life satisfaction of the faculty in ESSU-Salcedo Campus, it could be noted that financial behaviour, financial attitudes and financial fitness of the faculty were not significantly correlated to life satisfaction. These are shown with indices of correlation of 0.439, 0.390, 0.444 and p-values of 0.283, 0.550 and 0.297, respectively. Based on the findings, the following conclusions were drawn: Most of the faculty members of ESSU Salcedo Campus were dominated by married female in their middle age with moderately low family income, highly experienced and masters’ degree holder. The demographic profile of the respondents, financial behaviour, financial attitudes and financial fitness do not have significant relationship with life satisfaction. The members of the faculty have moderate behaviour, favourable attitude and financially healthy towards financial aspects. Furthermore, they were considered as highly satisfied with their life situations. Based on the findings and conclusions, the following are recommended: Faculty members have to grab the opportunities in applying for scholarship grants in order to upgrade their academic rank and increase their monthly family income. Financial literacy program or awareness dissemination related to financial literacy should be conducted to the faculty. Further studies should be conducted correlating the demographic profile of the respondents to financial literacy of the faculty. A wide scope of research involving other faculty from the different universities in Region VIII should be conducted to compare with and validate the findings of the study.

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Dr.Geetanjali Joshi Mishra
Lucknow, UP, INDIA
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India
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India
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Malaysia
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Saudi Arabia
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Pakistan
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