Financial Literacy: its impact on the daily earnings of street vendors in Tagum City

Abstract

The purpose of this study was to evaluate the impact of financial literacy on the daily earnings of street vendors in Tagum City. The researchers used a correlational technique to conduct a quantitative non-experimental investigation. The study’s focus was on the 250 street vendors in Tagum City taken from the total population using stratified random sampling. Furthermore, the researchers utilized a standardized questionnaire adopted from Lusimbo (2016) and was modified to fit the study. Also, the statistical tools used are Mean and Pearson (r). Among the indicators of financial literacy, borrowing was observed to be high in descriptive level, followed by budgeting, saving, and investing with moderate in descriptive level. While indicators of daily earnings, profitability, debt repayments and practices, and cost efficiency, showed that all were observed to have high in descriptive level. Accordingly, the correlation result illustrates that when the financial literacy of street vendors was observed to be high, their daily earnings were also observed to be high.