ASSESSING THE FINANCIAL LITERACY OF SENIOR HIGH SCHOOL AND COLLEGE STUDENTS: A COMPREHENSIVE ANALYSIS

Abstract

Financial literacy is increasingly recognized as an essential life skill, particularly for young adults who are on the cusp of managing financial responsibilities independently. This study provides a comprehensive analysis of financial literacy levels among Senior High School (SHS) and College students at Colegio de San Francisco Javier (CSFJ) in the Philippines. Utilizing a 4-point Likert scale, the study evaluates two primary dimensions: financial knowledge and financial behavior, focusing on savings, budgeting, and borrowing. A quantitative research approach was employed, involving a sample of 345 randomly selected students. The findings suggest that while students exhibit a general understanding of financial concepts, there are significant gaps in their practical application, particularly in areas like compound interest and investment strategies. No significant gender differences in financial literacy were found. The study concludes with recommendations for targeted financial education programs that address these gaps, ensuring that students are better prepared for financial challenges in adulthood.