Financial Management Practices of Community-Based Enterprise Association Members in Southern Oriental Mindoro
DOI:
https://doi.org/10.54536/ajsde.v5i1.6810Keywords:
Association Members, Community-Based Enterprise, Financial Management Practices, Southern Oriental MindoroAbstract
This study examined the financial management practices of community-based enterprise association members in Southern Oriental Mindoro, focusing on savings and budgeting, credit and debt management, social security and financial risk management, and investing practices. Using a descriptive–correlational research design, data were collected from purposely selected 32 members across 10 registered associations through self-structured questionnaire, and guided interviews. Most respondents were mostly women, married, with modest educational backgrounds, limited income sources, and earnings below Php 10,000 monthly. Findings revealed that members demonstrated high level of financial management practices in savings and budgeting (2.94), particularly in setting budgets and saving for essential needs, though proactive saving behavior remained low. Credit and debt management was at high level (2.63), with respondents showing responsible repayment habits with few relying from informal borrowing sources. In contrast, social security and financial risk management (2.10) and investment practices (2.04) were found to be at low levels, indicating limited long-term financial preparation and reluctance toward formal investment opportunities. Correlation analysis showed significant positive relationships between budgeting and savings with both credit/debt management (r = 0.410, p < .05) and investing practices (r = 0.385, p < .05). The strongest link was between credit/debt management and investing (r = 0.655, p < .001), suggesting that effective debt management enables members to pursue investment opportunities. The study concludes that while association members exhibit strengths in short-term money management, they remain vulnerable in long-term financial security. It recommends the implementation of targeted financial literacy programs emphasizing saving discipline, social security awareness, and accessible investment opportunities to strengthen financial resilience and support community development.
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