A confirmatory Factor Analysis of the Financial Literacy that influences teacher debt.

Abstract

           The purpose of the research was to examine the confirmatory Factor Analysis of financial literacy influencing teacher debt and to examine a causal structural relationship model of financial literacy influencing teacher debt for teachers who are members of the Teachers' Savings Cooperative, Department of General Education, Ltd. Simple random sampling was used to select 600 teachers who were members of the Department of General Education Teachers' Savings Cooperative Ltd. for use in the study. The instrument for research was the Financial Literacy for Teachers scale, a five-level scale with three components and twelve points. Measurement included 60 inquiries. Number and percentage statistics were utilized in data analysis via confirmatory factor analysis.
           Empirical data on financial literacy revealed that the causal component of financial skills affecting instructors' debt found that the component with the maximum weight was the deposit protection policy (PROTECT), which had a weight of 0.932, followed by the credit bureau (BUREAU), which had a weight of 0.897, and the calculation of interest on loans (INTEREST), which had a weight of 0.878. The elemental weight of division (DEVIDE) is 0.789, and the elemental weight of division (DEVIDE) is 0.695. Component model and empirical data on financial conduct Comparison of data prior to purchase (COMPARE) had the maximum weight of the component, 0.852, followed by accounting (ACCOUNT), which had a weight of 0.820, consideration prior to purchase (PONDER), which had a weight of 0.662, and the direct payment side. Time (ONTIME) has a weight component of 0.660, while money management when money is insufficient (MANAGE) has a weight component of 0.633. In the empirical component model of financial attitudes, the component weight for saving (SAVING) was 1.187, followed by the spending aspect (SPEND), which had a component weight of 0.615 and a causal structural correlation model relating financial skills to teacher debt. financial literacy the observed variables for financial behavior and financial attitudes had a weight of 0.50 or more (Hair, Black, Babb, and Anderson, 2010). Consequently, it can be stated that all latent variables are measurable based on the observed variables.