Enhancing financial literacy among Pantawid Pamilyang Pilipino Program beneficiaries
Merlynda Munar
Abstract
This study aimed to evaluate the effectiveness of financial literacy education among the Pantawid Pamilyang Pilipino Program (4Ps) household grantees in Baguio City in the Philippines. The focus was on enhancing financial knowledge and skills, particularly in financial planning, budgeting, and savings. Using a descriptive quantitative methodology, a questionnaire was administered to 297 respondents selected through stratified random sampling. The study assessed the financial literacy improvement relative to demographic factors such as gender and educational attainment. Results indicated that financial literacy sessions had a significant positive impact, with respondents demonstrating a "great extent" of improvement in financial planning, budgeting, and savings. Statistical analysis revealed no significant differences based on gender, while educational attainment showed significant differences, with higher education levels correlating with better financial literacy. The findings suggest that while financial literacy programs are broadly effective, tailoring these sessions to accommodate varying educational backgrounds could enhance outcomes further. Future recommendations include developing targeted financial education strategies to address the needs of those with lower educational attainment and expanding the program to reach a larger demographic. This approach could foster greater financial stability and empowerment among low-income families, ultimately contributing to poverty reduction efforts.
Keywords
financial literacy, 4Ps household grantees, financial planning, budgeting, savings
Author information & Contribution
Merlynda Munar. Doctor in Business Administration. Administrative Officer IV at Department of Social Welfare & Development - Cordillera Administrative Region and Postgraduate Researcher at University of Baguio, Graduate School. Email: mvimunar@gmail.com
Disclosure statement
No potential conflict of interest was reported by the author(s).
Funding
This work was not supported by any funding.
Institutional Review Board Statement
Data and Materials Availability
The data supporting the findings of this study are available from the corresponding author upon reasonable request.
AI Declaration
Notes
Acknowledgement
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Cite this article:
Munar, M. (2024). Enhancing financial literacy among Pantawid Pamilyang Pilipino Program beneficiaries. International Journal of Academe and Industry Research, 5(3), 98-124. https://doi.org/10.53378/ijair.353098
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