ISSN (Online) 2581-9429

IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.301 Volume 3, Issue 2, July 2023

Exploring the Financial Literacy of 4Ps

Beneficiaries
Alvie Elma C. Plaza
Faculty, College of Arts and Sciences,
Surigao del Norte State University, Surigao City, Philippines

Abstract: This research focuses on evaluating the financial literacy of 4Ps beneficiaries in Brgy. Mabua,
Surigao City. The study includes a sustainability plan and recommendations based on the findings.The
primary data sources for this study are the 4Ps beneficiaries in the mentioned barangay. The research
explores the respondents' profiles, including age, sex, civil status, educational attainment, and
employment status. The study aims to identify any significant differences among these variables.To
accomplish this, a quantitative descriptive research design was employed, using a survey method.
Adoptive questionnaires were personally administered to 46 respondents to collect the required data.
The analysis involved using frequency and percentage to assess the respondents' profiles and Mean (M)
to determine their financial literacy.The results, determined through ANOVA, indicate that there are no
significant differences between respondents' age, sex, civil status, and educational attainment regarding
financial literacy. However, there are notable differences in financial behavior and financial awareness
variables based on respondents' employment status

Keywords: Explore, Financial Literacy, Beneficiaries, Pantawid Pamilyang Pilipino Program (4Ps)

I. INTRODUCTION
Financial literacy is a fundamental aspect of personal financial management and plays a pivotal role in individuals'
economic well-being. In recent years, numerous initiatives and social welfare programs have been implemented to
uplift the economically disadvantaged sections of society. Among these programs, the PantawidPamilyang Pilipino
Program (4Ps) in the Philippines aims to provide financial assistance to eligible families, with the overarching goal of
breaking the cycle of poverty.
The present study delves into the realm of financial literacy among 4Ps beneficiaries in the specific context of Purok 6,
located in Brgy. Mabua, Surigao City. The focus of this research is to gain a comprehensive understanding of the
financial literacy levels of 4Ps beneficiaries and identify potential areas for improvement. By assessing the financial
literacy of this target group, the study aims to shed light on the efficacy of the 4Ps program in empowering its
beneficiaries with the necessary knowledge and skills to make informed financial decisions.
Additionally, this research endeavors to provide insights into the sustainability of the program by formulating
appropriate recommendations based on the study's findings. These recommendations are intended to enhance the
financial literacy of the 4Ps beneficiaries, ultimately contributing to their financial security and self-sufficiency.
The study's primary data sources consist of the 4Ps beneficiaries in Purok 6, Brgy. Mabua, Surigao City. Key
demographic information, such as age, sex, civil status, educational attainment, and employment status, will be
collected to gain a comprehensive understanding of the respondents' profiles.
A quantitative descriptive research design using a survey method has been adopted to achieve the study's objectives
effectively. The survey questionnaires were personally administered to 46 respondents from the target population to
gather relevant data. The collected data were then subjected to rigorous analysis, employing frequency and percentage
computations to assess the respondents' profiles and determine their level of financial literacy.
The analysis of the financial literacy levels will be conducted using mean (M) calculations, providing a comprehensive
assessment of the 4Ps beneficiaries' financial knowledge and awareness. Furthermore, the study will explore potential
significant differences in financial literacy among respondents based on various demographic variables.

Copyright to IJARSCT DOI: 10.48175/IJARSCT-12192 663

www.ijarsct.co.in
 ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.301 Volume 3, Issue 2, July 2023

By delving into the financial literacy of 4Ps beneficiaries in Purok 6, Brgy. Mabua, Surigao City, this research
contributes valuable insights to both policymakers and stakeholders involved in social welfare programs. The findings
and recommendations from this study have the potential to shape future interventions, fostering a more financially
inclusive environment and empowering individuals and families towards greater financial stability and independence.

II. BACKGROUND OF THE STUDY

Financial literacy is a crucial skill that empowers individuals to make informed and responsible financial decisions,
enabling them to manage their resources effectively and work towards achieving economic stability. In many
developing countries, including the Philippines, a significant portion of the population faces financial challenges and
lacks the necessary knowledge to handle their finances optimally.
In response to these economic disparities and in an effort to alleviate poverty, the Philippine government introduced the
Pantawid Pamilyang Pilipino Program (4Ps) as a flagship social protection program in 2007. The program targets the
poorest households in the country and provides them with conditional cash transfers to support their basic needs and
encourage investments in human capital, particularly health and education.
While the 4Ps program aims to address immediate financial needs and improve the well-being of the beneficiaries, it is
also essential to assess the long-term impact of the program by examining the financial literacy levels of its recipients.
Financial literacy can significantly influence the success and sustainability of the program by equipping beneficiaries
with the skills and knowledge to manage their cash transfers effectively, invest wisely, and plan for the future.
Amid the significance of financial literacy in maximizing the benefits of social welfare programs like 4Ps, there
remains a knowledge gap regarding the financial literacy levels of the program beneficiaries, particularly in specific
localities. Therefore, this study concentrates on investigating the financial literacy of 4Ps beneficiaries residing in Purok
6, Brgy. Mabua, Surigao City.
Purok 6 is an area with distinct socio-economic characteristics, and understanding the financial literacy of its 4Ps
beneficiaries can offer valuable insights into the effectiveness of the program at the grassroots level. By examining the
financial literacy of this target population, the study seeks to identify potential strengths and areas for improvement
within the 4Ps program in Purok 6.
Additionally, the research endeavors to create a sustainability plan for the program based on the study's findings. The
sustainability plan will consist of practical recommendations to enhance the financial literacy of 4Ps beneficiaries,
ensuring that the program has a lasting positive impact on their financial well-being beyond the duration of cash
transfers.
To accomplish the objectives of this study, a quantitative descriptive research design will be adopted. Through a survey
method, data will be collected directly from 46 4Ps beneficiaries in Purok 6, Brgy. Mabua, Surigao City. The survey
will encompass questions related to financial knowledge, attitudes, and behavior to gauge the level of financial literacy
among the respondents.
The study's findings are expected to provide valuable insights to policymakers, program implementers, and relevant
stakeholders involved in social welfare initiatives. The information garnered from this research will contribute to
evidence-based decision-making, enabling targeted interventions to strengthen the financial capability of 4Ps
beneficiaries and empower them towards a more sustainable financial future.

III. METHODOLOGY
The present study adopts a quantitative research approach, specifically using Descriptive Research. Quantitative
research methods emphasize the objective measurement and statistical analysis of data collected through questionnaires
and surveys. Descriptive research aims to provide an accurate and systematic description of a population, situation, or
phenomenon, addressing what, where, when, and how questions, but not delving into why questions.
The participants of this research were families who are eligible-member beneficiaries of the 4Ps program in Brgy.
Mabua, Surigao City. To ensure representation and minimize bias, a simple random sampling technique was employed,
considering that Purok - 6 had 52 active 4Ps beneficiaries. Using Slovin's formula, the sample size was determined,
resulting in a total of 46 eligible respondents.

Copyright to IJARSCT DOI: 10.48175/IJARSCT-12192 664

www.ijarsct.co.in
 ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.301 Volume 3, Issue 2, July 2023

Data collection was carried out through an adoptive questionnaire. The questionnaire consisted of two parts: the first
part focused on capturing the profile of the respondents, including age, sex, civil status, educational attainment, and
employment status. The second part assessed the financial responsibility of 4Ps beneficiaries, covering aspects such as
financial behavior, financial awareness, financial knowledge, and financial skills. To ensure the questionnaire's validity,
it was presented to experts in the field for validation and feedback.
In analyzing the gathered data, the research employed the following statistical tools:
Frequency Count and Percentage Distribution: These tools were utilized to determine the profile of the respondents in
terms of age, sex, civil status, educational attainment, and employment.
Mean and Standard Deviation: These measures were employed to determine the level of financial literacy among the
4Ps eligible-member beneficiaries. By calculating the mean and standard deviation, the researcher could assess the
central tendency and variability of the financial literacy scores.
Analysis of Variance (ANOVA): This statistical technique was applied to determine significant differences in the
financial literacy of 4Ps beneficiaries when grouped according to their profile variables. ANOVA allows for the
comparison of means between different groups, providing valuable insights into potential variations in financial literacy
levels based on demographic factors.
By utilizing these statistical tools and following a quantitative descriptive research design, this study aims to provide a
comprehensive assessment of the financial literacy of 4Ps beneficiaries in Brgy. Mabua, Surigao City. The findings
obtained through this rigorous approach will contribute to a better understanding of the financial capabilities of the
target population and inform potential interventions to improve financial literacy and well-being among 4Ps
beneficiaries.

IV. RESULTS AND DISCUSSION

The results presented in this section contribute to the knowledge base surrounding the financial literacy of 4Ps
beneficiaries in Brgy. Mabua, Surigao City. The findings provide valuable insights into the current financial capabilities
of this target population and shed light on areas where improvement may be required. These results are critical for
policymakers, program implementers, and relevant stakeholders, as they can inform the development of effective
strategies and initiatives to enhance financial literacy among 4Ps beneficiaries, ultimately promoting their financial
well-being and economic empowerment.
TABLE 1: PROFILE OF RESPONDENTS
PROFILE f (n = 46 ) %
30 years old and below 1 2.2
31-40 years old 9 19.6
AGE 41-50 years old 23 50.0
51-60 years old 9 19.6
60 years old and above 4 8.7
Male 15 32.6
SEX
Female 31 67.4
Single 4 8.7
Separated 4 8.7
CIVIL STATUS
Married 35 76.1
Widowed 3 6.5
Elementary Graduate 30 65.2
EDUCATIONAL ATTAINMENT High school Graduate 12 26.1
College Graduate 4 8.7
Employed 10 21.7
EMPLOYMENT Self-employed 12 26.1
Unemployed 24 52.2
Copyright to IJARSCT DOI: 10.48175/IJARSCT-12192 665
www.ijarsct.co.in
 ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.301 Volume 3, Issue 2, July 2023

Out of the total fifty-two (52) 4Ps beneficiaries residing in Purok 6, Barangay Mabua, Surigao City, the survey
successfully gathered responses from forty-six (46) participants, which was the targeted number for the survey. The
participants' profiles were categorized based on their background information, and the distribution among various
demographic characteristics is presented below.
In terms of age distribution (Table Part 1), 50% of the respondents fell within the age range of 41-50 years old, making
them the largest group. The age groups of 31-40 years old and 51-60 years old had an equal representation of 19.6%,
followed by respondents aged 60 years and above, accounting for 8.7%. The remaining 2.2% comprised respondents
aged 30 years and below. These results indicate that the majority of respondents are adults, likely to have their own
families and children, making them significant providers in their households.
Regarding the gender distribution (Table Part 2), female respondents constituted the larger proportion, accounting for
67.4%, while male respondents represented 32.6%. This suggests that women are more likely to take on household
responsibilities and stay at home, while men often seek employment outside their homes to support their families.
The civil status distribution (Table Part 3) revealed that the majority of respondents, 76.1%, are married, with a count of
thirty-five (35) individuals. The categories of single and separated had the same percentage, comprising 8.7% each,
with a count of four (4) individuals. Meanwhile, widowed respondents accounted for 6.5%, representing three (3)
individuals. These findings align with the program's focus on families, as most of the respondents are married
individuals.
As for educational attainment (Table Part 4), the largest proportion of respondents, 65.2%, were elementary graduates,
with a total of 30 respondents. High school graduates comprised 26.1% with 12 respondents, while college graduates
constituted only 8.7% with four (4) individuals. It is worth noting that there are 4Ps beneficiaries who have attained a
college degree, but the majority remain with elementary or high school education. Despite having completed their
college education, some respondents are still earning minimum wages, possibly due to limited job opportunities
matching their qualifications.
In terms of employment status (Table Part 5), the highest number of respondents, 52.2%, identified as unemployed.
Self-employed individuals represented 26.1%, and those employed constituted 21.7% of the total respondents. This
indicates that a significant portion of the 4Ps beneficiaries in the area lack stable employment, potentially due to limited
educational background affecting their job prospects. In the current job market, employers often prioritize applicants
with higher educational achievements.
The profiling of the 4Ps beneficiaries provides valuable insights into their demographic characteristics, shedding light
on potential factors influencing their financial literacy levels. The results offer a foundation for understanding the
financial capabilities of the target population and pave the way for targeted interventions and recommendations to
enhance their financial literacy and overall economic well-being.
TABLE 2: FINANCIAL LITERACY OF 4PS IN TERMS OF FINANCIAL BEHAVIOR
Financial Behavior M SD V.I. QD
1. Follow the financial plan/budgeting that we have for the family Highly
3.57 0.62 Always
(Jaoy tagsunod na pinansyal plano o badyet sa gastoson sa pamilya) Literate
2. Compare prices before buying Highly
3.91 0.28 Always
(Mag tandi-tandi anay sa mga presyo adiser mopalit) Literate
3. Set long-term financial goals and strive to achieve them
Highly
(Paghimo ug taas na termino nga pinansyal nga mga tumong ug paningkamot 3.57 0.72 Always
Literate
nga makab-ot kini)
4. Before buying a product, think carefully if I can afford it or not (Adiser mag Highly
3.87 0.40 Always
palit ng produkto huna-hunaon anay nako kung kaya nako mapalit or dili) Literate
5. Pay bills on time Highly
3.74 0.44 Always
(Magbayad ng bayrunon sa sakto na oras) Literate
Highly
Average 3.73 0.30 Always
Literate

Copyright to IJARSCT DOI: 10.48175/IJARSCT-12192 666

www.ijarsct.co.in
 ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.301 Volume 3, Issue 2, July 2023

Table 2 presents the financial literacy of 4Ps beneficiaries concerning their financial behavior. The statement "Compare
prices before buying" received the highest mean score of (M=3.91, SD=0.28), indicating that members of 4Ps
consistently compare prices before making purchases, seeking better deals and cost-effective options for similar
products. This behavior reflects their awareness of the impact of pricing on their purchases and their efforts to make
informed decisions when investing their money. Comparing prices across various shops enables them to identify the
best value for their needs, considering product quality, brand preferences, and cost (Kesarovska, 2019).
Similarly, the statement "Follow the financial plan/budgeting that we have for the family" received a mean score of
(M=3.57, SD=0.62), indicating that 4Ps beneficiaries consistently adhere to a financial plan or budget for their family.
This practice helps them regulate their spending and ensure they remain within their financial means. Financial
planning not only aids in saving money but also facilitates potential investments, contributing to financial stability and
peace of mind (Bell, 2022).
The statements "Before buying a product, think carefully if I can afford it or not," "Pay bills on time," and "Set long-
term financial goals and strive to achieve them" all received high mean scores of (M=3.87, SD=0.40), (M=3.74,
SD=0.44), and (M=3.57, SD=0.72), respectively, indicating that these behaviors are frequently practiced by the 4Ps
beneficiaries. By closely monitoring their daily expenses and adhering to their budget, they can make thoughtful
decisions about affordability and avoid falling into debt. Moreover, maintaining timely bill payments contributes to
their financial discipline and ensures financial stability. Setting long-term financial goals demonstrates their foresight
and dedication to achieving financial objectives (Bell, 2022).
Overall, the financial behavior of 4Ps beneficiaries demonstrates a commendable level of financial literacy, with an
average mean score of (M=3.73, SD=0.30), interpreted as "Always" and qualitatively described as "Highly Literate."
This implies that the beneficiaries possess a strong understanding of financial principles and consistently exhibit
responsible financial behavior. Their prudent approach to managing finances contributes to their overall financial well-
being and reflects a commendable level of financial literacy among this target population.
TABLE 3: FINANCIAL LITERACY OF 4PS IN TERMS OF FINANCIAL AWARENESS
Financial Awareness M SD VI QD
Moderately
Make a list when buying (Maghimo og listahan sa mga palitonon) 3.13 0.83 Sometimes
Literate
To spend less than your income Moderately
3.20 0.98 Sometimes
(Mogasto na dili muabot sa imo kita) Literate
Discussing with spouse on financial issues Highly
3.70 0.76 Always
(Makig isturyahay sa imong bana/asawa bahin sa problema sa kwarta) Literate
Use the money one’s save according to the original intentions(Gamita ang Highly
3.57 0.72 Always
kwarta nga gitipon sa usa sumala sa orihinal nga katuyoan) Literate
Recognize the need for every member of the family to be educated in
handling the finances Highly
3.80 0.40 Always
(Ilha ang panginahanglan sa matag membro sa pamilya nga maedukar sa Literate
pagdala sa panalapi)
Highly
Average 3.48 0.40 Always
Literate

Table 3 presents the financial literacy of 4Ps beneficiaries in terms of their financial awareness. The statement
"Recognize the need for every member of the family to be educated in handling finances" received the highest mean
score of (M=3.80, SD=0.40), indicating that 4Ps beneficiaries consistently emphasize the importance of financial
education within their families. This highlights their understanding that financial resources are not limitless and that
each family member should learn to manage their finances independently. Such awareness can help them achieve their
short-term and long-term financial goals while avoiding wealth dissipation across generations (Trout CPA, 2021).
The second-highest mean score was obtained by the statement "Discussing with spouse on financial issues," with a
mean of (M=3.70, SD=0.76). This suggests that 4Ps beneficiaries recognize the significance of open communication

Copyright to IJARSCT DOI: 10.48175/IJARSCT-12192 667

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 ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.301 Volume 3, Issue 2, July 2023

with their spouses regarding financial matters. The understanding that financial decisions affect the entire family unit
leads them to engage in discussions about money, sharing views, and addressing disagreements. By involving both
spouses in financial planning, they can work together to achieve common financial objectives, such as saving for
retirement or their children's education, leading to a stronger financial foundation for the family (Singhal, 2017).
On the other hand, the statement "Make a list when buying" received a mean score of (M=3.13, SD=0.83), indicating
that 4Ps beneficiaries sometimes create shopping lists but may deviate from them while in the store. While they may
already have an idea of what they need and the budget they should adhere to, they may adjust their shopping list based
on changing priorities. Creating a shopping list allows them to prioritize their spending and make more informed
choices, reducing food waste and ensuring that they save for other financial intentions (Caesar, 2019).
The statement "Use the money one's save according to the original intentions" obtained a mean score of (M=3.57,
SD=0.72), suggesting that 4Ps beneficiaries consistently utilize their savings for their intended purposes. This behavior
aligns with the practice of creating shopping lists, as it enables them to stick to their financial priorities and still allocate
funds for other important objectives.
Overall, the financial awareness of 4Ps beneficiaries demonstrated a commendable level of financial literacy, with an
average mean score of (M=3.48, SD=0.40), verbally interpreted as "Always," and qualitatively described as "Highly
Literate." This indicates that the beneficiaries possess a strong understanding of financial concepts and consistently
exhibit prudent financial behaviors. Their awareness of financial matters contributes to their financial stability and
underscores their commendable level of financial literacy within this target population.
TABLE 4: FINANCIAL LITERACY OF 4PS IN TERMS OF FINANCIAL KNOWLEDGE
Financial Knowledge M SD VI QD
Keep records of income and expenditures in the family Moderately
2.93 1.06 Sometimes
(Paglista ng rekord sa kita ug mga galastuhan sa pamilya) Literate
Use saved money for an emergency than spending it to something else
Highly
(Gamita ang natigom nga kwarta para sa usa ka emerhensya kaysa 3.57 0.72 Always
Literate
gastohon kini sa laing butang)
Prioritize the needs and give up on buying items that are not necessities in
making a budget) Highly
3.98 0.15 Always
(Unahon ang mga panginahanglan ug hunong na sa pagpalit og mga Literate
butang nga dili kinahanglanon sa paghimo og budget)
Budget the monthly income beforehand to avoid cramming and
misappropriation of budget Highly
3.76 0.43 Always
(Ibudget daan ang binuwan nga kita aron malikayan ang sayop na Literate
paggamit sa kwarta)
Decide wisely on the scarce money that we have Highly
3.91 0.28 Always
(Pagdesisyon nga maalamon sa limitado nga kwarta nga naa kanato) Literate
Highly
Average 3.63 0.34 Always
Literate
Table 4 presents the financial literacy of 4Ps beneficiaries in terms of their financial knowledge. The statement
"Prioritize the needs and give up on buying items that are not necessities in making a budget" received the highest mean
score of (M=3.98, SD=0.15), indicating that 4Ps beneficiaries consistently prioritize their essential needs and exercise
discipline in budgeting. They are aware of the distinction between needs and wants, allowing them to track expenses,
wisely invest any surplus money, and reduce unnecessary spending. Understanding this difference is crucial for
effective financial management (Metrobank, n.d.).
Similarly, the statement "Use saved money for an emergency rather than spending it on something else" obtained a
mean score of (M=3.57, SD=0.72), indicating that 4Ps beneficiaries consistently prioritize saving money for unforeseen
emergencies. By allocating funds for emergencies, they avoid financial anxieties and are better prepared to handle
unexpected expenses. This responsible approach to financial planning ensures their financial security and minimizes the
burden of sudden financial challenges.

Copyright to IJARSCT DOI: 10.48175/IJARSCT-12192 668

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 ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.301 Volume 3, Issue 2, July 2023

On the other hand, the statement "Keep records of income and expenditures in the family" received a mean score of
(M=2.93, SD=1.06), signifying that 4Ps beneficiaries sometimes maintain records of their daily finances. While they
may not always feel the need to document their income and expenses, organized recordkeeping can significantly aid in
financial management. It allows for easy retrieval of important family papers, simplifies bill payments, and provides a
clearer picture of their financial situation (Johnson, 2020).
Overall, the financial knowledge of 4Ps beneficiaries demonstrated a commendable level of financial literacy, with an
average mean score of (M=3.63, SD=0.34), verbally interpreted as "Always," and qualitatively described as "Highly
Literate." This indicates that the beneficiaries possess a strong understanding of financial concepts and consistently
exhibit prudent financial behaviors related to budgeting, prioritization, emergency savings, and financial planning.
Their financial knowledge contributes to their overall financial well-being and underscores their commendable level of
financial literacy within this target population.
TABLE 5: FINANCIAL LITERACY OF 4PS IN TERMS OF FINANCIAL SKILLS
Financial Skills M SD VI QD
Keep records of income and expenditures in the family Highly
3.93 0.33 Always
(Paglista ng rekord sa kita ug mga galastuhan sa pamilya) Literate
Use saved money for an emergency than spending it to something else
Moderately
(Gamita ang natigom nga kwarta para sa usa ka emerhensya kaysa 3.04 0.94 Sometimes
Literate
gastohon kini sa laing butang)
Prioritize the needs and give up on buying items that are not necessities in
making a budget) Highly
3.83 0.38 Always
(Unahon ang mga panginahanglan ug hunong na sa pagpalit og mga Literate
butang nga dili kinahanglanon sa paghimo og budget)
Budget the monthly income beforehand to avoid cramming and
misappropriation of budget Highly
3.80 0.45 Always
(Ibudget daan ang binuwan nga kita aron malikayan ang sayop na Literate
paggamit sa kwarta)
Decide wisely on the scarce money that we have Highly
3.89 0.31 Always
(Pagdesisyon nga maalamon sa limitado nga kwarta nga naa kanato) Literate
Highly
Average 3.70 0.27 Always
Literate
Table 5 presents the financial literacy of 4Ps beneficiaries in terms of their financial skills. The statement "Cut down
expenses and save for other unexpected expenses" received the highest mean score of (M=3.93, SD=0.33), indicating
that 4Ps beneficiaries consistently prioritize saving money for unforeseen events. This practice reflects their
understanding that even a small amount saved in an emergency fund can be of great help during unexpected financial
strains. Effective financial planning can mitigate the impact of unexpected expenses, safeguarding their ability to
achieve short- and long-term financial goals (Warren, 2022).
The second-highest mean score was obtained by the statement "Try to find the best price when wanting to buy
something" with a mean of (M=3.89, SD=0.31). This demonstrates that 4Ps beneficiaries are adept at seeking cost-
effective ways to make purchases. They understand that saving money involves finding the best deals on the items they
wish to buy. It is worth noting that cost-effectiveness does not solely revolve around purchasing the cheapest item; they
also consider the quality and longevity of the product to ensure a better deal (Warren, 2022).
The statement "Work and find another means of earning money when there is not enough money" received a mean
score of (M=3.80, SD=0.45), indicating that 4Ps beneficiaries proactively seek additional income sources to support
their daily expenses beyond the cash grants they receive. Some engage in activities such as fishing, farming, or other
income-generating ventures to sustain their financial needs.
On the other hand, the statement "Do not spend lavishly on or do not spend at all on events like the birthday of
relatives, fiestas, etc., and live only according to one's means" received a mean score of (M=3.04, SD=0.94), suggesting
that 4Ps beneficiaries sometimes spend on special occasions, such as birthdays and fiestas. While they prioritize their

Copyright to IJARSCT DOI: 10.48175/IJARSCT-12192 669

www.ijarsct.co.in
 ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.301 Volume 3, Issue 2, July 2023

daily needs, some believe in celebrating these events as they occur only once a year. However, it is essential to maintain
budgetary discipline during such occasions to avoid overspending and potential financial troubles (Gobel, 2021).
Overall, the financial skills of 4Ps beneficiaries demonstrate a commendable level of financial literacy, with an average
mean score of (M=3.70, SD=0.27), verbally interpreted as "Always," and qualitatively described as "Highly Literate."
This signifies that the beneficiaries possess a strong understanding of financial concepts and consistently exhibit
prudent financial behaviors related to saving, seeking best prices, finding additional income sources, and maintaining
budgetary discipline. Their financial skills contribute to their overall financial well-being and underscore their
commendable level of financial literacy within this target population.

V. CONCLUSION
In conclusion, this research study delved into the financial literacy of 4Ps beneficiaries in Purok 6, Barangay Mabua,
Surigao City. Through a quantitative descriptive research design, the study investigated the participants' financial
literacy in terms of financial behavior, financial awareness, financial knowledge, and financial skills. The findings shed
light on the level of financial literacy among this specific target population and provided valuable insights into their
financial practices and attitudes.
The results revealed that the majority of 4Ps beneficiaries displayed commendable financial literacy across various
dimensions. They demonstrated responsible financial behavior, such as comparing prices before buying, following
financial plans and budgets, and carefully considering affordability before making purchases. Moreover, they
emphasized the importance of financial education within their families, highlighting the significance of planning for
future unexpected expenses and engaging in open communication with their spouses regarding financial matters. These
behaviors reflect their efforts to make informed and disciplined financial decisions, contributing to their overall
financial well-being.
The participants also showcased a strong level of financial awareness, recognizing the need for financial planning,
emergency savings, and prioritizing needs over wants. However, there was some room for improvement in keeping
records of income and expenditures, which can further enhance their financial management capabilities.
Furthermore, the study revealed that 4Ps beneficiaries exhibited proficient financial knowledge, distinguishing between
needs and wants, seeking the best prices for their purchases, and finding additional means of earning money when
needed. Their understanding of financial concepts and prudent financial practices contributes to their financial stability
and preparedness for unexpected events.
Overall, the research demonstrated that the 4Ps beneficiaries in Purok 6, Barangay Mabua, Surigao City, possess a
commendable level of financial literacy. Their efforts to make responsible financial decisions, plan for the future, and
maintain disciplined financial practices contribute to their economic empowerment and financial well-being.
These findings carry significant implications for policymakers, program implementers, and stakeholders involved in the
4Ps program. Strengthening financial education initiatives, promoting budgeting and saving habits, and encouraging
wise financial decision-making can further enhance the financial literacy of 4Ps beneficiaries, leading to more
sustainable and empowered communities.
It is essential to recognize that financial literacy is a continuous journey, and continuous efforts should be made to
support and uplift the financial capabilities of 4Ps beneficiaries. By addressing the areas of improvement identified in
this study, policymakers and stakeholders can develop targeted interventions to bolster financial literacy among the
beneficiaries, ultimately contributing to their long-term economic growth and stability.
As the landscape of personal finance and economic challenges evolves, nurturing financial literacy becomes even more
crucial. By equipping 4Ps beneficiaries with the knowledge, skills, and attitudes to navigate financial complexities, they
can seize opportunities, face challenges, and secure a brighter financial future for themselves and their families.
Through collective efforts and sustained commitment, we can empower 4Ps beneficiaries to achieve economic
independence and improve their overall quality of life.

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Copyright to IJARSCT DOI: 10.48175/IJARSCT-12192 670
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 ISSN (Online) 2581-9429
IJARSCT
International Journal of Advanced Research in Science, Communication and Technology (IJARSCT)
International Open-Access, Double-Blind, Peer-Reviewed, Refereed, Multidisciplinary Online Journal
Impact Factor: 7.301 Volume 3, Issue 2, July 2023

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