Can Spending Management mediate the relationship between financial literacy and English Teacher’s Risk Tolerance and financial anxiety?

Financial literacy is a globally recognized priority, acknowledged for its significance in various countries. The present study endeavors to investigate the influence of financial literacy on Risk Tolerance and financial anxiety among ESL teachers in Iranian Public Schools. The focal point of this investigation revolves around the mediating responsibilities associated with Spending management. To gather the necessary data, an online survey was conducted, collecting responses from a total of ۲۱۴ participants. Through an extensive exploratory and confirmatory factor analysis, these data were analyzed. As a result, two hypotheses were found to be invalid; it was determined that financial literacy does indeed play a pivotal role in shaping saving attitudes as well as managing spending habits. Furthermore, it was observed that both saving attitudes and financial anxiety significantly affect one's risk tolerance level. Given these findings, future studies are encouraged to delve deeper into these areas for further comprehension and insight.The comprehension of monetary matters, which is commonly referred to as financial literacy, has emerged as a topic of growing significance. It encompasses the indispensable abilities and awareness required to proficiently handle personal finances. Atkinson and Messy (۲۰۱۲) provide a comprehensive definition of financial literacy, describing it as the amalgamation of consciousness, expertise, aptitude, attitude, and conduct necessary for making prudent financial choices and attaining individual fiscal prosperity.

کلیدواژه ها:

Financial Literacy ، financial anxiety ، English teachers ، risk tolerance ، Spending management