HomeMSEUF Research Studiesvol. 15 no. 1 (2013)

Financial Literacy and Financial Management Practices of Employees in a Private University

Carmen A. Aldovino | Ashley DS Pangiligan | Ralyn E. Bermude

Discipline: Finance



This study looked into the financial literacy and financial management practices of permanent employees in a private university. Using a survey questionnaire, the researchers assessed the employees’ understanding of what is credit, saving and investment as well as their actual practices of the said financial concepts. Relationship between financial literacy and demographic factors as well as financial management practices and demographic factors were also explored. Results showed that majority of the respondents were female, married, and master’s degree holder. In terms of their understanding, most respondents showed moderate and high literacy in saving and investment while generally, they showed moderate literacy in credit. Their savings are normally kept in banks and other financial institutions within the university. Likewise, they prefer the financial services of the same for their financial needs over other means such as those offered by credit card companies and financial entities outside the university. Meanwhile, real estate is the most common investment among the employees. Meanwhile, significant relationship in financial literacy exists when respondents are grouped according to civil status.