Climate change adversity: Experiences and struggles on financial condition of corn farmers

Abstract

This study aimed to explore the experiences and struggles of corn farmers in their financial conditions affected by climate change adversity in Panabo City, particularly in Kiotoy, Tagpori, and Maduao. The participants were divided into two groups: five for in-depth interviews (IDI) and two for focus group discussions (FGD), regardless of age and gender. In addition, this study used a phenomenological approach to acquire significant narratives about how corn farmers perceived their experiences of difficulties in managing their financial conditions during climate change. The results showed that corn farmers have diverse experiences which include the effects of extreme heat and rain, surviving economic disruptions, and diversifying income sources facing failures in corn farming. Their coping mechanisms involve ways of ensuring productivity and financial literacy for long-term financial security, as well as resilient farming practices. Further, the researchers shared their insights upon conducting interviews with corn farmers and related their understanding to future financial management professionals. These findings may help corn farmers, governments, those who are planning to have corn farming, and future researchers to provide solutions and recommendations on how to apply financial management while dealing with climate change.