Influence of Financial Literacy, Financial Planning and Awareness on Investment Vehiclesto Investment Preference of Public-school Educators in Puerto Princesa City, Palawan

Abstract

This study aimed to examine respondents' financial planning status, their familiarity with various investment vehicles, and their investment preferences. Using the Theory of Planned Behavior, the researchers analyzed whether there is a correlation between financial literacy, financial planning, and awareness of investment vehicles and the investment preferences of public-school teachers. The researchers utilized a mixture of snowball and quota sampling method to gather data. By the end of the allotted time period, a total of 55 responses were gathered. Results showed that there is a significant relationship between subjective financial literacy and financial planning. However, there is no significant relationship between financial literacy and investment preference except for three occasions. Findings also revealed that there is a significant relationship between financial planning and investment preference in the areas of financing large purchases, protecting life and assets, investing savings, planning retirement. Lastly, the level of awareness about most investment products and the respondents' investment preference was found to be significant except for the following investment vehicles: Small Business, Networking, Time Deposit, Corporate and Government Bonds, Treasury Bills, and Long Term Negotiable Certificate of Deposit. These findings revealed that relationships between variables are not entirely significant there fore, investment preference may not be predicted using these constructs. However, due to the limitations in the time allotted to gather the data, the results might have been severely affected, thus, it is recommended that other researchers continue what has been started by this study. Future researchers may course through their survey for public school teachers through the heads of the Department of Education or the presidents of the two state universities in the province to get a higher number of responses.