International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Influence of Financial Literacy on the Financial Management System of Schools: A Quantitative Inquiry

Author(s) Ms. Juvy P. Amad, Dr. Roel P. Villocino
Country Philippines
Abstract The purpose of this study was to assess the financial management system and financial literacy of the 57 school heads, 30 administrative officers II, and 6 administrative assistants III who make up the Loreto North District. The study employed the quantitative-correlational and causal-comparative research design to explore the relationship between financial literacy and financial management among school leaders. The study used an adapted survey questionnaire from the Organization for Economic Cooperation and Development (OECD) in 2017. The gathered data in this study were analyzed with the use of descriptive statistics of frequency and percentage, while the statistical tools used to treat the data were Analysis of Variance and Pearson Product-Moment Correlation Coefficient. Findings revealed that financial literacy is often manifested by the respondents with an overall mean of 2.72 (SD 0.41). On the other hand, financial management systems among the schools are often compiled with an average of 3.29 (SD 0.75). Furthermore, the null hypothesis was tested at a 0.05 level of significance to test the correlation and differences among variables. Results show that there is no significant difference in the level of financial literacy and financial management when grouped by profiles. On the other hand, there is a significant relationship and strong positive correlation between financial literacy and financial management among schools, which has a Pearson’s r of 0.208 and a p-value of 0.045. In conclusion, if the respondents are financially literate, they can make informed, strategic financial decisions that enhance resource management, transparency, and overall school effectiveness. On the other hand, if the respondents have a high level of financial management, they can efficiently plan, allocate, and monitor resources to support educational goals and ensure institutional sustainability. in addition, Financial literacy is positively associated with financial management in schools, and as the financial knowledge of administrators and faculty increases, budgeting, spending, and resource allotment become more accurate and effective. Enhanced financial literacy leads to better decision-making, long-term financial planning, and overall institutional sustainability.
Keywords Education Administration, Financial Literacy, Financial Management, Financial Knowledge, correlational, difference, causal-comparative, Philippines
Field Sociology > Education
Published In Volume 7, Issue 4, July-August 2025
Published On 2025-08-10
DOI https://doi.org/10.36948/ijfmr.2025.v07i04.52838
Short DOI https://doi.org/g9w5d7
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