ABSTRACT
Financial literacy education is a lifelong asset that every individual needs to function and fit well in modern-day
society. It provides the financially savvy better decision making, best investment alternatives and family wellbeing.
Unfortunately, most consumers especially in this part of our world appear relatively less active and less confident in
participating meaningfully in the financial sector due to lack of knowledge about the complex nature of financial
products and services and indeed the risk that goes with them. As a contribution in addressing this problem, this
study looked at financial literacy education and its implication on the economic and social life of the teacher in the
Upper East Region of Ghana. With a descriptive survey design, 118 participants responded to questionnaires. Results
showed low levels of financial literacy among participants which can negatively affect their daily financial
management. It is therefore definite that the financially literate has the advantage to undertake prudent alternative
investment decisions and able to make informed retirement planning. Being financially illiterate adversely affects
one’s life in relation to the culture of savings, expenditure pattern, investment decisions and budgeting skills, making
the individual economically insecure. The study has policy frontier implications; policy makers in the financial sector,
governments, non-governmental organisations and equity owners are encouraged to come to the aid of consumers,
especially teachers, by way of introducing professional teacher development programmes specifically tailored at
uplifting their financial literacy knowledge and skills.
Keywords: Financial, literacy, education, decisions, knowledge, teacher. J