FINANCIAL LITERACY AND MONEY MANAGEMENT OF FISHERMEN IN BARANGAY SAN JOSE, ISLAND GARDEN CITY OF SAMAL

Abstract

In this study, financial literacy refers to the ability of the fishers to understand how money works (Mbazigwe,2013). In this study, financial literacy refers to the ability of the fishers to know how money works in theirbusiness and how excellent they are at managing their finances. The study entitled “FINANCIAL LITERACY AND MONEY MANAGEMENT OF FISHERMEN IN BARANGAY SAN JOSE, ISLAND GARDEN CITY OF SAMAL” was conducted to determine the significant relationship between financial literacy and money management. The level of financial literacy was discovered to be 4.76, which is a very high descriptive level, indicating that the financial literacy of fishermen was observed at all times. It was also discovered that the money management is 4.82, or a very high descriptive level, indicating that the fishermen are excellent. Finally, the computed r-value of 0.844 with a p-value 0.000 revealed that there is a significant association between financial literacy and money management. Because the result showed a high degree of correlation, the money management of the fishermen included in this study is highly dependent on their financial literacy.