Assessment on the financial management among rice retailers in Tagum City: basis for enhancement program

Abstract

This study assessed the financial management proficiency of rice retailers in Tagum City, emphasizing cash-flow management, saving, and investment knowledge. A survey of 142 registered rice retailers was conducted using systematic random sampling. Results indicate a high level of cash-flow management knowledge and a solid understanding of saving, with room for improvement in investment knowledge, particularly in tracking net worth and emergency fund importance. Recommendations include an enhancement program to bolster investment knowledge and awareness of financial institutions for assistance. Future research should delve into demographic and psychographic factors influencing financial management among rice retailers and analyze reasons behind increasing business failures in this sector.