Chapter 3

METHODOLOGY

This chapter includes discussion of general research methodology that will be

employed in the study, the subjects involved, the instrument used in gathering the needed data

and the statistical methods and techniques that will be applied for data analysis and

interpretation.

Research Design

This study will use the descriptive method of research. Quantitative research

designs are either descriptive (subjects usually measured once) or experimental (subjects

measured before and after a treatment). A descriptive study establishes only associations

between variables.

Ariola (2006) states that descriptive research describes current events and that

questions posed are based on present phenomena or state of affairs. It involves the recording,

description and the presentation of the present system, composition and phenomena.

Likewise, according to Kendra Cherry (2005) descriptive research seeks to depict

what already exists in a group or population. Descriptive studies do not seek to measure the

effect of a variable; they seek only to describe.

According to Calmorin (2005), descriptive method is designed for the investigator to

gather information about the present existing condition. The description of how the

respondents assess the financial literacy is the primary task of this study.

Since the present study is concerned with knowing the financial literacy among the

teachers of Tabango North, descriptive method will provide us the best information.
Respondents or Participants

The respondents who will be involved in this study are the randomly selected

Tabango North elementary and secondary public school teachers of the Division of Leyte

during the school year 2021-2022. Slovin’s formula will be used in getting the number of

respondents in both levels.

Table 1 shows the number of respondents from the different secondary public schools

of the Division of Leyte will be chosen.

Table 1
Distribution of Respondents

Tabango North Number of Respondents Sample Size

Elementary School 600 184
Teachers
Secondary School Teachers 300 92
Total 900 276
n=277

Research Environment

This study will be conducted in public secondary schools of Tabango North District

of the Division of DepEd Leyte. Data on financial literacy will be obtained through the

administration of questionnaires.

Figure 2 shows the Map of Tabango where the respondents could be found.

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 FIGURE 2.

MAP OF THE MUNICIPALITY OF TABANGO, LEYTE

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Data Gathering and Procedure

Permission will be sought from the Schools Division Superintendent to allow the

researchers to administer the research instrument to the respondents.

The respondents will be given a questionnaire in determining the respondents’

financial literacy.

The researchers will contextualize and use the Financial Literacy Survey 2016

adapted from the Secretariat: Financial Services Agency in Japan.

The Financial Literacy Survey is a questionnaire survey conducted with the aim of

understanding the current state of financial literacy, i.e., financial knowledge and financial

decision-making skills, of individuals aged 18 and over in Japan.

The following instruments will be used to gather the necessary data for the study:

1. Profile Checklist. The checklist consists of items that draw significant information

about the respondents such as age, gender, civil status, number of years in DepEd, and highest

educational attainment.

2.The Financial Literacy Survey. This is a questionnaire survey conducted with the

aim of understanding the current state of financial literacy, i.e., financial knowledge and

financial decision-making skills, of individuals aged 18 and over in Japan. The questions are a

combination of true/false questions on "financial knowledge and financial decision-making

skills" and questions on "characteristics of behavior and attitude" relating to the eight

categories of the Financial Literacy Map. About half of the questions are made similar to

those in surveys conducted by the U.S. Financial Industry Regulatory Authority (FINRA)

Investor Education Foundation and the Organization for Economic Co-operation and

Development (OECD) so that the results could be compared.

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 In measuring their level of financial literacy of the respondents, five items per

indicators will be measured using a scale score of 1 to 5: 1 = POOR, 2 = BELOW

AVERAGE, 3 = AVERAGE, 4 = ABOVE AVERAGE; 5 = EXCELLENT.

Action Research Work Plan and Timelines

JANUARY FEBRUARY MARCH APRIL MAY

WEEK 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4
Conceptualization, Writing
of a title
Introduction, Background
of the Study

Research Methodology

Instruments

Letter of Permission to
authors of copyrighted
works

Data Gathering

Data Analysis

Illustrations of Findings

Conclusions and
Recommendations

Printing of the Manuscript

Dissemination of the Study

Timetable/Gannt Chart

Cost Estimates

I. Cost Estimates
A. Consultation Fees
1. Research Consultants P 5,000
2. Statistician P 8,000
B. Materials and Supplies
1. Bond paper P 500
2. Ink (printer) P 500
C. Services
1. Binding P 500
D. Food
1. Participants P 5,000
E. Dissemination/Publication P 2,000

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 P 21,500.00

Data Analysis

The data that will be gathered by the researchers from the different schools in

Tabango North district of the Division of Leyte will be collected, analyzed, and interpreted to

answer the questions in the study and test the hypotheses.

1. The statistical parameters which will be used are percentage, weighted mean, analysis

of variance and Pearson Product Momentum Correlation coefficient. These will be

computed using the STATA.

STATA is a general-purpose statistical software package created in 1985 by Stata

Corp. Most of its users work in research, especially in the fields of economics, sociology,

political science, biomedicine and epidiomology. Stata’s capabilities include data

management, statistical analysis, graphics, simulations, regression, and custom programming.

Statistical analyses are carried out to test the tenability of the null hypothesis, which

is an assumption that in the population of interest no differences exist between groups and

that treatments of interest have no effects. To maintain objectivity, researchers establish the

null hypothesis prior to conducting their studies. But researchers may also establish a research

hypothesis, which is an informed statement (not a wild guess) about their true expectations

and beliefs. Statistical tests help scientists determine whether the null hypothesis or the

research hypothesis is more tenable. The decision is based on the significance of study results.

In statistics, the term "significance" refers to the mathematical probability of obtaining the

observed results if the same experiment were conducted many times on different samples of

subjects in the population of interest. In conducting tests of statistical significance (such as t-

tests and ANOVA), researchers answer this central question: If the null hypothesis were true

in the population (that is, if there really is no difference between groups and no treatment

effect).

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 The Pearson Product Momentum of Correlation or Pearson r will be used to

determine the relationship between the demographic profile of the respondents and their level

of financial literacy.

To interpret the correlation value obtained, the following classification will be

applied:

± 0.00 to ± 0.20 = denotes negligible correlation

± 0.21 to ± 0.40 = denotes slow/slight correlation

± 0.41 to ± 0.70 = denotes moderate correlation

± 0.71 to ± 0.90 = denotes high correlation

± 0.91 to ± 0.99 = denotes very high correlation

2. To interpret the level of financial literacy, the performance index will be used:

Likert Scale

DESCRIPTION Descriptive Rating

4.51-5.00 Outstanding
3.51-4.50 Very Satisfactory
2.51-3.50 Satisfactory
1.51-2.50 Unsatisfactory
1.00-1.50 Poor

3. For the interpretation of the data, the following scale will be used:

Weighted Value DESCRIPTION Descriptive Rating

5 4.20-5.00 EXCELLENT
4 3.40-4.19 ABOVE AVERAGE
3 2.60-3.39 AVERAGE
2 1.80-2.59 BELOW AVERAGE
1 1.00-1.79 POOR

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