Financial Inclusion And Financial Well-Being Of Ambulant Vendors In Kapalong, Davao Del Norte

Abstract

The study explores the level of financial inclusion and financial well-being of ambulant vendors in Kapalong, Davao del Norte. This study utilized the descriptive-correlation design utilizing the adaptive questionnaire, which was validated by the panel of experts in both independent and dependent variables. Statistical tools used in the study were mean and Pearson-r for the treatment of the data collected and gathered. Eighty-eight respondents from 14 barangays in Kapalong were selected using random sampling. The results revealed that the five indicators of financial inclusion: financial literacy, accessibility, availability, affordability, and usage were rated high. It also revealed that the mean of the indicators from financial well-being got a high descriptive level, which includes financial preparedness, beliefs of credit limits, and risky indebtedness behavior. The result showed that there is a significant relationship between financial inclusion and the financial well-being of ambulant vendors in Kapalong, Davao del Norte. This concludes that all measures of financial inclusion used in this study have a high relationship with financial well-being. Therefore, the two variables were highly significant to each other. Keywords: financial inclusion, financial well-being, descriptive-correlation design, ambulant vendors, Kapalong, Davao del Norte