FINANCIAL LITERACY AMONG ADULT GEN Z IN OLONGAPO CITY: AN ASSESSMENT OF KNOWLEDGE, ATTITUDES, AND BEHAVIORS
Abstract
Financial literacy has become an essential life skill in an increasingly complex financial environment, particularly among young adults transitioning toward financial independence. This study assessed the level of financial literacy among adult members of Generation Z in Olongapo City, focusing on three core dimensions: financial knowledge, financial attitudes, and financial behaviors. It also examined the relationship between these dimensions and selected financial activities, namely savings, discretionary income, discretionary spending, investments, and borrowing. Using a descriptive-correlational research design, data were collected from 30 Generation Z respondents aged 18 to 27 years old through a structured survey questionnaire. Descriptive statistics and Pearson correlation analysis were employed to analyze the data. Findings revealed that respondents generally possessed an average level of financial knowledge but demonstrated positive financial attitudes and good financial behaviors. Most respondents reported low levels of savings and minimal investment participation, although debt levels remained generally low. Correlation analysis indicated that financial knowledge, attitudes, and behaviors were positively associated with savings, investments, spending, and borrowing practices, while no significant relationship was observed with discretionary income. The findings suggest that although Generation Z respondents exhibit responsible financial attitudes and behaviors, there remains a need to strengthen financial knowledge and long-term financial planning practices. The study highlights the importance of targeted financial education programs that can improve financial decision-making and promote sustainable financial behavior among young adults.