Abstract:
The study was conducted to explore financial literacy and financial
planning among the staff of the University of Health and Allied Sciences
(UHAS), Ho. The targeted population for this study was the staff (all
categories) of the University of Health and Allied Sciences. This comprised
junior and senior staff members from six (6) faculties/schools within the
University. The total number of targeted populations for the study was six
hundred and eighty (680) people. Structured questionnaires (close-end and
open-ended questions) were employed for the data collection. The findings of
the study showed that: income, past experiences, interest rates, inflation, taste
and preferences, expected dividends, current economic indicators, financial
advisors, ease of borrowing and minimum risk were the determining factors of
financial planning. The study recommended that government must intensify
formal and informal education on financial planning, institutions must engage
in financial education with their employees, financial education must be made
part of the JHS curriculum and people must also seek financial knowledge
from the right source.
