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Research Article

Level of Financial Literacy and Debt Management: Basis for Personal Financial Management Program

1894 reads
Winona Caryl Carvajal , Cristine Marie Baltonado , Mary Gil Gocela , Laurence Jay Pajes , April Joy Soliman , Hardy Bankas , Cliff Kirl Lubon , Marilou Albano
Psych Educ Multidisc J, 2025, 41 (2), 206-215, DOI: https://doi.org/10.70838/pemj.410203, ISSN 2822-4353
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Abstract

This study emphasizes the importance of financial literacy and debt management among college faculty members, who play a vital role not only in educating students but also in modeling responsible financial behavior. In the Philippines, faculty often face financial challenges that impact both personal well-being and professional effectiveness. To address this concern, the study investigates the level of financial literacy and the extent of debt management among selected faculty members at Holy Trinity College of General Santos City. The research employed a quantitative descriptive-correlational design using stratified random sampling. A total of 48 full-time faculty members participated in the study through a self-made, validated survey instrument. Findings revealed that the mean score for financial literacy was M = 4.03, SD = 0.52, interpreted as high financial literacy. For debt management, the mean was M = 2.84, SD = 0.49, interpreted as moderately efficient. A Pearson correlation analysis revealed a strong positive correlation between financial literacy and debt management (r = 0.915, p < 0.001), indicating that higher financial literacy is associated with better debt management practices. The results suggest that enhancing financial literacy among faculty through targeted programs can significantly improve debt management, promoting financial independence and stability.

Keywords financial literacy debt management personal finance personal financial management program
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The team behind this paper

8 authors, 1 institution.

This paper Holy Trinity College of General Santos City — Philippines Holy Trinity College of… 8 authors Winona Caryl Carvajal — corresponding author WC Winona Caryl Carvajal ✉ Cristine Marie Baltonado CB Cristine Marie Baltonado Mary Gil Gocela MG Mary Gil Gocela Laurence Jay Pajes LP Laurence Jay Pajes April Joy Soliman AS April Joy Soliman Hardy Bankas HB Hardy Bankas Cliff Kirl Lubon CL Cliff Kirl Lubon Marilou Albano MA Marilou Albano

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This article is token #5637 of SciMatic Articles (ERC-1155): 1,000,000 tokens, minted once, never more. The chain also stores a fingerprint (SHA-256) of the article's record, so anyone can check that it has not been altered.

HolderWalletTokens
SciMatic 0xc35709…277732 100,000 (10%)
Winona Caryl Carvajal 0x92C415…697B22 112,500 (11.25%)
Cristine Marie Baltonado 0xDdCb35…80b4Cd 112,500 (11.25%)
Mary Gil Gocela 0x9321c8…D998d6 112,500 (11.25%)
Laurence Jay Pajes 0x479a59…6B0F46 112,500 (11.25%)
April Joy Soliman 0x9ae1C2…344DC6 112,500 (11.25%)
Hardy Bankas 0xcD4197…b13c4f 112,500 (11.25%)
Cliff Kirl Lubon 0x589A2d…0fEFa6 112,500 (11.25%)
Marilou Albano 0x60316f…84998B 112,500 (11.25%)
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Bibliographic Information

Winona Caryl Carvajal, Cristine Marie Baltonado, Mary Gil Gocela, Laurence Jay Pajes, April Joy Soliman, Hardy Bankas, Cliff Kirl Lubon, Marilou Albano, (2025). Level of Financial Literacy and Debt Management: Basis for Personal Financial Management Program, Psychology and Education: A Multidisciplinary Journal, 41(2): 206-215
Bibtex Citation
@article{winona_caryl_carvajal2025pemj,
author = {Winona Caryl Carvajal and Cristine Marie Baltonado and Mary Gil Gocela and Laurence Jay Pajes and April Joy Soliman and Hardy Bankas and Cliff Kirl Lubon and Marilou Albano},
title = {Level of Financial Literacy and Debt Management: Basis for Personal Financial Management Program},
journal = {Psychology and Education: A Multidisciplinary Journal},
year = {2025},
volume = {41},
number = {2},
pages = {206-215},
doi = {10.70838/pemj.410203},
url = {https://scimatic.org/index.php/show_manuscript/5637}
}
APA Citation
Carvajal, W.C., Baltonado, C.M., Gocela, M.G., Pajes, L.J., Soliman, A.J., Bankas, H., Lubon, C.K., Albano, M., (2025). Level of Financial Literacy and Debt Management: Basis for Personal Financial Management Program. Psychology and Education: A Multidisciplinary Journal, 41(2), 206-215. https://doi.org/10.70838/pemj.410203

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