Effect of financial literacy on savings and investment behaviour of public sector workers in the ho municipality

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The primary objective of the research was to investigate the impact of FL on the savings and investment patterns shown by public sector employees within the Ho municipality. The research included quantitative approaches and inferential methods for analysis. The research design used in the study was cross-sectional and explanatory in nature. The population included all individuals employed within the Ho Municipality, regardless of their gender, occupational field, or hierarchical position. A total of 388 staff were chosen with a simple random sampling method. The research hypotheses were evaluated using SPSS version 26. Descriptive statistics were used to provide a comprehensive summary of the data. The hypotheses of the research were examined by the use of regression analysis. The findings of the study indicated that there is a positive and statistically significant relationship between financial education and FL. However, it was found that many socioeconomic and demographic parameters, including age, gender, marital status, income, experience, and education, do not have a significant impact on FL. The findings of the study also indicated that there is a significant and positive link between FL and the investment and savings behavior of public sector employees residing in the Ho municipality. It is crucial to establish and execute comprehensive financial education initiatives that include many aspects of personal finance, including budgeting, saving, investing, and debt management.
A thesis submitted to the institute of distance learning, Kwame Nkrumah university of science and technology in partial fulfilment of the requirements for the award of master of science in accounting and finance