Mediating Effect of Money Attitude on The Influence of Financial Literacy, Financial Behavior, Self-Efficacy on The Financial Health of The Sandwich Generation
Year: 2025
Type: article
Study design: Observational Study
Abstract: In the Philippines, where strong family connections and obligations across generations are prevalent, the "sandwich generation" faces the challenge of providing support to both aging parents and dependent children. This research investigated the relationships between financial literacy, financial behavior, self-efficacy, money attitudes, and financial health among 467 adults from the sandwich generation in Batangas Province. Utilizing a descriptive research design and structured questionnaires, the study characterized the respondents and examined the connections between essential financial and psychological variables. The results indicated that the majority of respondents were female, had completed college education, and belonged to the lower-middle-income category, exhibiting high levels of financial literacy (M = 3.28) and self-efficacy (M = 3.35), while displaying only moderate financial behavior and financial health. Regression analysis revealed that financial literacy had a significant impact on financial behavior (R² = .545) and self-efficacy (R² = .492), and together, financial literacy, behavior, and self-efficacy accounted for 57.2% of the variance in financial health. Among these factors, financial behavior had the most substantial influence (B = .445), highlighting the importance of applying knowledge through consistent financial practices. Mediation analyses showed that money attitudes partially mediated the relationships between financial literacy and financial behavior with financial health, but not the connection between self-efficacy and financial health. These findings emphasize the crucial role of behavior and attitudes, in addition to knowledge, in fostering financial resilience. The study concludes that while adults in the Filipino sandwich generation possess financial awareness and confidence, their financial well-being is still at risk due to caregiving demands. Therefore, interventions should incorporate financial education, behavioral support, and culturally appropriate assistance programs to enhance long-term financial health.
DOI: 10.14419/7mqsm581
Author: Dr. Angelica R. Manalo
Institution: Batangas State University
Subfield: Accounting
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4415916774
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