can spending management mediate the relationship between financial literacy, 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 teachers of english as a second language   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 214 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 plays a pivotal role in shaping saving attitudes and managing spending habits. furthermore, it was observed that both saving attitudes and financial anxiety significantly affect one’s risk tolerance level.