CHAPTER IV

DATA ANALYSIS AND FINDINGS

INTRODUCTION

The findings of the data acquired from the case study samples are presented in this chapter. The
interview is the primary source of information, which is complemented with database searches.
The research findings will be presented in accordance to the study's declared research objectives.
The methods used to analyze the data is already covered in the research methodology.

DEMOGRAPHICS OF THE INTERVIEWEES

Categories of Interviewees

Twenty-five pupils were in grade ten, and twenty-five were in grade twelve. In comparison to
grade 10 respondents, approaching grade 12 was easier because they are well-informed and eager
to be questioned on short notice.

Category of Informants

Informants Numbers Age

GRADE 10 25 15-20
GRADE 12 25 15-20

Provides information on the types of participants surveyed based on their grade level. Most
participants in the stated age range were usually seniors, thus the researchers chose that age
range since senior responders seem to be more educated.

Of fifty responders, the researcher concluded that the data acquired is full. This indicates that the
researcher notices a consistency in the data collected from the respondents. Additional data
collecting will not always result in a fresh finding of the problem. The researcher will have
personal theories or hunches, which are then developed through systematic review of existing
theory and research (Marshall and Rossman, 1999). According to Lewis and Ritchie (2003) the
validity of findings is traditionally understood to refer to the correctness or precision of the
research reading.

These are all the people who took part in the data gathering surveys, and their perspectives were
collected and described.

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RESAECH FINDINGS

Introduction

This section of the chapter summarizes the findings and analyzes the information gathered from
individual interviews about financial literacy knowledge and importance. The data was extracted
and evaluated in accordance with the study's objective.

Awareness of the existence of financial literacy

Financial literacy helps individuals know how to best manage their money in terms of their life
goals and their economic and financial situation. The Organization for Economic Co-operation
and Development (OECD) started an inter-governmental project in 2003 with the objective of
providing ways to improve financial education and literacy standards through the development of
common financial literacy principles. In a conversation with a respondent about the value of
financial literacy in managing one's finances, she stated:

“When you're financially literate, you understand how to allocate your income toward various
goals simultaneously not just to ongoing expenses, but to savings, debt repayment and an
emergency fund too. You have the tools to thoroughly research and evaluate loans, credit
cards and investment opportunities. Even if you don't have a lot of disposable income to help
you reach all of your financial goals, financial literacy will help you know how to prioritize
them and make strides when you're able to.”

However, some participants are unaware about the significance of financial literacy in their
personal lives.

Furthermore, most of the respondents stated that financial literacy is a skill individuals must
understand in order to guide themselves on how to manage there own money. In one of the
interview session, a respondents said:

“To explore the importance of financial literacy, we turned to personal finance experts
working in colleges, high schools, and credit unions. Together, the populations they serve
span a broad range of ages, incomes, and backgrounds. These educators witness first-hand the
impact that financial literacy or the lack of financial literacy can have on a person’s life.”

This can be stated that the interviewees' understanding of the topic is still deficient in
terminology. However, respondents are aware of its significance.

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RESEACH ANALYSIS

Introduction

The findings of the research will be discussed in the research analysis section. The study will
examine the root causes of problems in depth and offer possible solutions based on prior studies
completed in other locations as described in the literature review. The recommendations will be
mentioned in Chapter 5.

Analysis on awareness of financial literacy among respondents

According to the results of the survey, the majority of participants were familiar with the specific
knowledge, but as previously said, several students lack the ability to articulate properly. During
a conversation with a respondent, she was questioned about the importance of managing one's
finances, she stated:

“When you're financially literate, you understand how to allocate your income toward various
goals simultaneously—not just to ongoing expenses, but to savings, debt repayment and an
emergency fund too. You have the tools to thoroughly research and evaluate loans, credit
cards and investment opportunities. Even if you don't have a lot of disposable income to help
you reach all of your financial goals, financial literacy will help you know how to prioritize
them and make strides when you're able to.”

Yet, overall readings collected doesn't correspond towards the researchers' hypothesis.
Though clearly expressed by participants once questioned whether financial literacy was vital
in managing one's finances, she stated:

“To explore the importance of financial literacy, we turned to personal finance experts
working in colleges, high schools, and credit unions. Together, the populations they serve
span a broad range of ages, incomes, and backgrounds. These educators witness first-hand the
impact that financial literacy or the lack of financial literacy can have on a person’s life.”

Meanwhile, teenagers generally unaware how financial literacy became significantly effective
for controlling there everyday expenses. In one of the interview session, one the respondent
being asked what is financial literacy in her own understanding, she stated:

“To be financially literate is a skill that can make a person smart in budgeting their money.”

Everything falls out to a lack of valid justification and experience mostly in minority of grade
ten participants.

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Conclusion

For conclusion, this chapter encompasses most of the data and carefully reviewed them. The
findings reveal that some participants seem to be unaware of the importance of financial
literacy. Nevertheless, the majority of participants comprehend the significance of financial
literacy and believes that it is helpful in resolving own finances.

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