Financial Literacy of Primary School Heads and School Effectiveness: A Quantitative Study from Pakistan

Financial management has become a necessary element of school leadership especially within the system of education in the public sector that is dealing with limited resources. The paper examines the connection between TERA of primary school heads and school performance in Tehsil Gumbat, District Khairpur, Pakistan. Quantitative correlational research design was adopted whereby a stratified random sample of 60 government primary school heads was used to derive hypothetical data. Financial literacy was measured using financial knowledge, financial attitude, and financial practices and school effectiveness using six organizational dimensions. The results show that the overall financial literacy and the school effectiveness have a statistically significant positive correlation (r = .58, p