Financial Literacy and Practices of College Faculty in Private Autonomous Higher Education Institutions in Region 3: Basis for Designing a Financial Literacy Program

The growing significance of financial literacy and applying it into a financial practice becomes a critical turning point for the financial perspective and landscape of the people in the Philippines. The emerging interest in this topic concerns the socio-economic status and profile of the people concerning how features and factors shows important difference to financial literacy and financial practices. The research aimed to study and to investigate the assessment of financial literacy and practices on university faculty members in private autonomous higher institutions in Region III. With statistical procedures such as frequency, mean, percentage, regression analysis, and such, the study found a significant difference on the assessment of financial literacy and practices when demographic profile was considered, while also establishing a significant relationship between financial literacy and practices. The results showed that demographic profiles were factors that could contribute to significant difference on the assessment of financial literacy and practices.