Empowering Communities Through Financial Education: A Model for Wesleyan University Philippines’ Partner Barangays

This research presents a comprehensive financial literacy model tailored for Wesleyan University Philippines' affiliated barangays, aiming to empower communities through hands-on money management. Utilizing a literature review design, the study integrates results from more than 30 studies worldwide and within the country, pinpointing financial literacy as an important skill for successful living to make informed decisions in saving, spending, borrowing, and investing. The literature highlights the three-dimensional character of financial literacy, including knowledge, attitudes, and behavior, with socio-demographic variables affecting outcomes. International and Philippine evidence identify some of the problems as low levels of financial literacy, gender inequalities, and shortcomings in long-term financial planning, especially among teachers and microenterprise owners. The model moots four main areas: money foundation knowledge, functional money skills, developing healthy financial habits, and reinforcing basic numeracy skills, all imparted through contextual local anecdotes, group sessions, and savings clubs. The participatory nature of the model elicits active learning and peer-to-peer support, encouraging improved use of banking services, higher savings rates, less use of informal credit sources, and improved financial resilience. The model highlights that financial literacy is not just knowing but also includes attitudes and behaviors and serves as a basis for individual and community well-being. Through this model, Wesleyan University Philippines hopes to assist partner barangays in developing healthier financial capabilities towards better sustainable economic security and enriched quality of life within the barangays in the 2024–2025 academic year.