THE IMPACT OF COGNITIVE BEHAVIOURAL THERAPY ON FINANCIAL PLANNING SKILLS FOR PRE-RETIREMENT AMONG SECONDARY SCHOOL TEACHERS IN GANYE LOCAL GOVERNMENT AREA, ADAMAWA STATE, NIGERIA
Abstract
This study examined the impact of Cognitive Behavioural Therapy (CBT) on the pre-retirement financial management skills of secondary school teachers in Ganye Local Government Area, Adamawa State, Nigeria. The research utilized a true experimental design with a pre-test-post-test control group format. A total of 60 secondary school teachers were randomly assigned to two groups: an experimental group that received CBT intervention and a control group that did not. Data were collected using the Teachers’ Financial Management Skills Scale (TFMSS) and the Teachers’ Pre-retirement Scale (TPRS), both of which were adapted to the study context. The instruments were validated by experts, and their reliability was confirmed through a pilot study with a Cronbach alpha coefficient of 0.94. The study sought to assess the effectiveness of CBT in improving financial goal setting, budgeting, and saving skills among teachers approaching retirement. The results indicated a significant improvement in the financial management skills of the experimental group, as evidenced by increased post-test scores compared to the control group. CBT was found to be effective in helping teachers develop better financial planning strategies, which are critical for a smooth transition into retirement. The findings provide valuable insights for educational institutions, policymakers, and counsellors to integrate CBT into retirement preparation programs, ensuring that teachers are equipped with the necessary skills to manage their finances before retirement.
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