THE RELATIONSHIP BETWEEN FINANCIAL LITERACY, FINANCIAL TECHNOLOGY, AND FINANCIAL BEHAVIOUR AMONG HIGH SCHOOL TEACHERS IN AN EMERGING ECONOMY

Abstract

This study examined the influence of financial literacy and financial technology on the financial behaviours of high school teachers within an emerging economy. Notably, financial illiteracy and poor financial behaviours are recognised as significant factors affecting teachers’ well-being, particularly in South Africa. A lack of financial knowledge has led many teachers to adopt detrimental financial habits, contributing to considerable stress. Despite the established link between financial distress and teacher attrition, research specifically addressing financial literacy and possible interventions for teachers in South Africa remains limited. This paper addresses this gap in the literature. The Theory of Planned Behaviour was applied as the study’s theoretical foundation, as it effectively captures the complexities of human social behaviour. A positivist paradigm and quantitative methodology were employed, with random sampling used to select 246 high school teachers, and data gathered through questionnaires. The data were analysed in SPSS to generate both descriptive and inferential statistics, utilising percentage frequencies and data ranking to categorise certain variables. Additionally, Cronbach’s alpha was used to assess internal consistency and reliability. Results indicated that while most participants demonstrated a high level of financial knowledge, many still exhibited poor financial behaviours, contributing to stress and, in some cases, resignation. The study offers practical and policy recommendations, advocating for government-led teacher training in financial literacy, continuous professional development, and public awareness initiatives. This research aims to raise awareness and contribute to knowledge regarding the professional development of teachers in the education sector.