FINANCIAL LITERACY AND FINANCIAL MANAGEMENT PRACTICES AMONG PUBLIC ELEMENTARY SCHOOL TEACHERS IN SELECTED SCHOOLS

Abstract

Financial Literacy and Financial Management Practices In the context of rapid economic development and increasing financial complexity, financial literacy has become an essential life skill that significantly influences both individual and global financial well-being. The Organization for Economic Co-operation and Development (OECD) recognizes financial literacy as a core competence in the 21st century, emphasizing its importance in navigating modern financial systems and making sound financial decisions (OECD, n.d.). Financial literacy enables individuals to make informed, effective decisions about managing their financial resources. It involves knowledge and understanding of fundamental financial concepts such as budgeting, saving, investing, and debt management. As financial challenges continue to intensify, financial literacy is increasingly regarded as a vital competency, particularly among educators who serve as role models and financial influencers within their communities.