Financial Literacy among Teachers in the Tamale Metropolitan Assembly in the Northern Region of Ghana

Abstract

This research assess the degree of Financial Literacy (FL) among teachers in the Tamale Metropolis, which is located in the Northern Region of the country. Principal goal of the research is to determine how well instructors understand personal finances. In this study, the primary objectives are to identify if certain groups of teachers are more knowledgeable about financial matters than others and whether teachers' knowledge influences their opinions and decisions about personal finance issues. In addition, the study will look into how teachers' knowledge influences their opinions and decisions about personal finance issues. This study makes use of both explanatory and descriptive techniques of research. The population of this research consists of 3152 teachers in the Tamale Metropolis. In this study, a total of 300 instructors were selected using a mix of stratified and convenience selection techniques. The research instrument was a questionnaire consisting of 46 questions that evaluated components such as background information, general finance knowledge, savings and borrowing knowledge, personal financial management practises, and financial management problems. Teachers in the Tamale Metropolitan Assembly, according to the results on overall FL, have a high level of FL.