Abstract

Financial literacy has become increasingly important as financial systems grow more complex. This study investigates the financial literacy and behavior of basic school teachers in Yeji, Ghana. A structured questionnaire was administered to 100 teachers, covering basic knowledge, investment knowledge, self-assessed financial skills, attitudes, and behaviors. Data were analyzed using descriptive statistics and independent t-tests. The findings show moderate levels of financial literacy: while many respondents correctly answered questions on inflation and money illusion, substantial gaps existed in their understanding of compound interest and investment returns. The teachers demonstrated generally positive attitudes and prudent behaviors, such as budgeting, saving, paying bills on time, and long-term planning. No significant gender differences were observed in financial literacy, attitudes, or behavior. Remarkably, 79% of participants reported giving financial advice, primarily on savings and investments, despite their moderate literacy. These results highlight the need for targeted financial education for teachers, who are uniquely positioned to influence financial well-being in their communities.

Key words: Financial literacy, financial behavior, basic school teachers, Ghana, financial education.