Financial Literacy Assessment of the Indigenous Peoples in Magsingal, Ilocos Sur: Basis for Extension Program

Financial literacy is widely recognized as a key driver of financial well-being, yet indigenous communities in rural Philippines remain underexamined in empirical research. This study assessed the level of financial literacy among Itneg/Tingguian ethnic people in Barangay Cadanglaan, Magsingal, Ilocos Sur, Philippines and examined the influence of financial access and exposure to the financial literacy in terms of financial knowledge, attitude, and behavior to develop culturally responsive extension program. A quantitative descriptive research design was employed using a structured survey administered to indigenous/ethnic group residents aged 18 years old and above. The instrument measured the level of financial access and exposure to financial institutions, financial literacy seminars, financial support programs, and media and information, as well as the level of their financial literacy across saving, budgeting, spending, debt management, investment, insurance, and retirement planning. Gathered Data were analyzed using descriptive statistics and multiple regression. The results indicated a high level of financial access and exposure (M = 3.84). The overall level of the financial literacy of the respondents rated very high (M = 4.28). However, their financial knowledge (M = 4.58) and financial attitude (M = 4.57) rated very high but weaker financial behavior (M = 3.68) in selected components, particularly investment and retirement planning. The level of financial access and exposure of the Itneg/Tingguian respondents showed significant influence on their overall level of financial literacy. Findings suggest that improving culturally relevant financial access and education may strengthen financial practices in indigenous communities. The study provides an empirical basis for targeted financial literacy interventions aimed at promoting long-term financial resilience.