Financial literacy among market vendors

Abstract

The main goal of this research is to assess the level of financial literacy market vendors, at the Panabo City Public Market. The study aims to profile market vendors based on factors like age, education, business experience and product type. It also seeks to evaluate their knowledge and inclusion. A structured, closed- ended questionnaire with 25 items with two indicators— financial knowledge for items 1 to 10 and financial inclusion for items 1 to 25, was used to collect data on market vendors' financial literacy. The average score for literacy and inclusion was 3.91 indicating an overall understanding of finances among market vendors. This study highlights the significance of literacy for market vendors. Underscores the benefits of tailored financial education programs. The insights gained can guide the Economic Management and Development Agency, in Panabo City in creating initiatives that support growth in the vendor sector.