The influence of parental financial socialization on the financial literacy of basic education students at Divine Word College of Calapan

This study examined the influence of parental financial socialization on the financial literacy of basic education students at the Divine Word College of Calapan (DWCC). It examined the level of parental financial socialization as perceived by the students in terms of financial teaching and monitoring, family budgeting, parental responsiveness, and parental relationships. It also assessed the level of students’ financial literacy and explored whether parental financial socialization significantly influenced it. A quantitative research design was employed, using a structured survey administered to 278 randomly selected junior high school and senior high school students. Findings revealed that students perceived parental financial socialization as evident across the four dimensions, and their overall financial literacy fell within the “competent” level. Results further showed a positive and significant relationship between parental financial socialization and students’ financial literacy. The study concludes that parental financial socialization is evident among basic education students, although involvement in family budgeting is not as strong as other parental practices. Based on these findings, a Financial Toolkit Plan was developed to strengthen parental involvement and improve students’ financial literacy through practical budgeting activities, guided financial discussions, and stronger school–home collaboration. The study recommends reinforcing financial education programs at an earlier stage and encouraging families to actively participate in helping students to become financially responsible youth.