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Noorul Huda Haron
Husaina Banu Kenayathulla


Financial literacy is known for its importance in shielding the public from financial mismanagement. For the school leaders’ population, this topic is hampered partly by the lack of empirical evidence on this particular population, a shortcoming this study addresses. This study aims to identify the level of the school leaders’ financial literacy through their understanding of matters related to financial knowledge, financial behaviour and financial attitude; differentiate the levels of financial literacy among them, and ascertain the factors that can determine their financial literacy. It hopes to provide policymakers and school leaders to understand the implications of financial illiteracy. 274 samples were selected randomly from Kuala Lumpur’s national secondary schools to answer an online questionnaire. Quantitative analysis using inferential statistical analysis of independent samples t-test and multiple regression analysis was employed in finding answers to research problem.  The findings show that the level of financial literacy of school leaders was moderate (M=0.717, SD= 0.301) based on the means of financial knowledge (M=0.58, SD=0.211, high level), financial behaviour (M=0.74, SD=0.245, high level) and financial attitude (M=5.88, SD=0.703, moderate level). Inferential statistical analysis of independent samples t-test indicated a significant difference between top and middle leaders, with top leaders’ mean financial score was greater than the middle leaders’ (M=54.5, SD = 5.689 vs M=52.67, SD=6.155, p=0.011). The study revealed that working experience (β=.331, t=2.593, p=.010) and financial education (β=.202, t=3.456, p=.001) were statistically significant factors that determined the school leaders’ financial literacy through multiple regression analysis. Overall, this study highlights that although the respondents’ financial knowledge and financial behaviour levels are high, it is not translated similarly through their financial attitude. These findings imply that the financial attitude is still at a moderate level. Thus, policymakers need to provide more exposure to school leaders in terms of financial attitude since financial attitude will affect their everyday financial decisions. This study highlights the importance of working experience and financial education which could be strengthened by imposing workplace financial education for the current and future school leaders of the nation. 


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