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ABSTRACT
The study primarily examined the demographic characteristics of the Pantawid Pamilyang Filipino Program (4Ps) beneficiaries in the Philippines and how those attributes affect the beneficiaries' financial literacy. It was conducted in the Municipality of Tiaong Quezon with 342 respondents from 4Ps beneficiaries. Demographic aspects like age, the highest level of education attained, and income, as well as financial literacy components like financial knowledge, financial attitude, and financial behavior were investigated, appraised, and extensively examined. The study's findings showed that age does not affect the three main competencies of financial literacy. However, the respondent's highest level of education impacts their financial knowledge but not their financial behavior and attitude, while income influences their financial behavior but not their knowledge and attitude. This study could serve as a springboard for policies that could be adopted by the Department of Social Welfare and Development (DSWD), the locale of the study, and concerned businesses in formulating financial programs, trainings and seminars that are expected to elevate the financial literacy level of 4Ps beneficiaries. Likewise, social programs for marginalized communities in other countries may use this study as a pattern in assessing their own services.
Keywords: Financial Literacy, Economically Disadvantage Sector, Pantawid Pamilyang Filipino Program (4Ps), 4Ps beneficiaries.
1. INTRODUCTION
A wide range of educational institutions and other organizations conducted researches on components of financial literacy and how they connect with one another (Banthia & Dey, 2021; Hirdinis & Elly, 2021; Hidayatullah & Basuki, 2020; Pandey et al., 2020; Yuesti, Rustiarini & Suryandari, 2020; Pecson, Lampa & Tadeo, 2019; Rai, Dua & Yadav, 2019; Ponio & Timog, 2017; Nano, 2015). Also, there are various analyses conducted on the effect of demographic factors on financial literacy (Bangco et al., 2022; Akbulaev & Mammadova, 2021; Duzakin & Yilmaz, 2021; Jayanthi & Rau, 2019; Quang & Anh, 2019; Amran et al., 2018).
In this paper, the probable influence of the demographic profile of 4Ps beneficiaries in the Municipality of Tiaong, Quezon Province on financial literacy was studied. The Filipinos are challenged by financial problems and difficulties which include vulnerable groups like Pantawid Pamilyang Filipino Program (4Ps) beneficiaries. The Republic Act (RA) No. 11310, also known as "An Act Institutionalizing the Pantawid Pamilyang Filipino Program (4Ps)," was passed to help the government...