The influence of financial literacy on the financial behavior of auto-rickshaw drivers in Island Garden city of Samal

Abstract

This study Financial Literacy and financial Behavior of Auto-rickshaw Drivers in Island Garden City of Samal was conducted to determine the level of financial literacy and financial behavior of auto-rickshaw drivers in Island Garden City of Samal. Through the study, the researchers were able to analyze, evaluate, organize and gather the data accordingly. The study was a quantitative descriptive correlational research design. The statistical tools employed were mean, standard deviation and Pearson-r. The data was gathered through the use of a survey questionnaire distributed to 250 auto-rickshaw drivers in the Island Garden City of Samal. Results showed that determinants generated moderate mean scores and showed that the said behavior was sometimes manifested; also, financial literacy generated a high mean score and showed that the auto-rickshaw drivers are well literate. It revealed that the two indicators, saving and investing, correlate with financial literacy. Moreover, the overall result shows a no significant relationship between financial literacy and financial behavior. Therefore, the result of the study suggests exploring more factors that may influence financial behavior.