The Moderating Effect of Economic Status on the Relationship Between Financial Literacy and Teachers' Attitudes Toward Debt Management
DOI:
https://doi.org/10.5281/zenodo.20849471Keywords:
debt management, economic status, financial literacy, moderation analysis, public school teachers, teacher financial well-beingAbstract
This study investigated the moderating effect of economic status on the relationship between financial literacy and teachers' attitudes toward debt management. Using a quantitative descriptive-regression design with moderation analysis, survey data were gathered from 92 permanent public elementary school teachers from Mt. Apo District and Digos Oriental District in the Digos City Division. The respondents were selected using purposive and simple random sampling based on inclusion criteria related to teaching position, teaching experience, family status, age range, and outstanding loans. Economic status was described in terms of income, educational attainment, land ownership, and house ownership. Financial literacy was measured through financial awareness, financial attitude, and financial skills, while teachers' attitudes toward debt management were assessed through debt perception, borrowing behavior, financial planning, and debt repayment responsibility. The results showed that most teachers earned Php 32,245 to Php 34,310 monthly, many were pursuing graduate studies, most owned less than one hectare of land, and nearly half owned a house without mortgage. Teachers demonstrated very high financial literacy (M = 4.33) and high attitudes toward debt management (M = 4.18). Regression analysis showed that financial literacy significantly and positively influenced attitudes toward debt management (R = .452, p < .001). Moderation analysis revealed that income significantly moderated the relationship between financial literacy and debt management attitudes, while educational attainment, land ownership, and house ownership did not show significant moderating effects. The findings highlight the importance of strengthening financial literacy support, especially for teachers with lower income levels, to promote responsible borrowing, prudent planning, and stable debt repayment behavior.
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