Evaluating Financial Literacy Level Among Teachers: a Study of Upper Denkyira West District of the Central Region of Ghana

Abstract

ABSTRACT Prime objective of the investigation intended to evaluate the rate of Financial Literacy of Teachers in Upper Denkyira West District. Quantitative technique was used for data collection and it was found out the skills acquired through education by teachers on financial literacy in the district on individual finance is very low. Also, the teachers with more years in their respective fields of study tend to be prudent in managing finances as compared to instructors who have taught for a short while and have little experience. The quantitative technique also revealed that most of the Teachers are much aware when it comes to difficulty of going for money and keeping money for tomorrow as majority of instructors depend on mortgages and bank fees to meet their narrow financial needs. The investigation uncovered that, greater size of the instructors in the Neighbourhood are deemed immature and hence are not subject to things that actually happened and does not show any significant attention to matters of one's own money. Therefore, this paper recommends workshops are organized on financial literacy to guarantee judicious and effective money control procedures for instructors within the district. Also, young teachers with great potentials are educated on the essential monetary needs and the most ideal habits throughout the duration of their education.