Financial Literacy among Overseas Filipino Worker (OFW) Families
Jayve S. Gonzales *
Davao Oriental State University- Cateel Campus, Philippines.
Melvin M. Ebrano
Davao Oriental State University- Cateel Campus, Philippines.
Margie M. Silverio
Davao Oriental State University- Cateel Campus, Philippines.
Marykristh Manaytay
Davao Oriental State University- Cateel Campus, Philippines.
Rojim B. Madanlo
Davao Oriental State University- Cateel Campus, Philippines.
Jade S. Cervantes
Davao Oriental State University- Cateel Campus, Philippines.
*Author to whom correspondence should be addressed.
Abstract
This study assessed the financial literacy of Overseas Filipino Worker (OFW) families in Cateel, Davao Oriental, focusing on their knowledge, attitudes, skills, and values in managing remittances. Using a descriptive-comparative design, data were gathered from 240 respondents through a structured questionnaire. Results indicated that respondents demonstrated high levels of financial skills and values, but showed room for improvement in attitudes and record-keeping practices. Significant differences in financial literacy were observed based on education, remittance amount, and years of employment abroad. The study recommends targeted financial education programs to strengthen responsible financial behavior and long-term resilience among OFW families.
Keywords: Financial literacy, OFW families, financial knowledge, financial skills, financial attitudes, financial values