Abstract
The study explored how Savings and Credit Cooperative Societies (SACCOs) enhance debt management literacy among members in Moshi Municipality, guided by Financial Socialization Theory. Using a convergent design under a mixed methods approach, the target population included nine SACCOs, 13,053 clients, and 20 employees. A sample of 3 SACCOs, 100 customers, and 5 managers was selected through simple random, stratified random, and purposive sampling techniques. Data were collected via questionnaires for customers and interviews for staff members. Validity was ensured by presenting the instruments to research experts, and a pilot test involving 35 participants assessed reliability, with Cronbach's alpha calculated at 0.95, indicating high reliability. The findings revealed that SACCO members generally acknowledge the organizations' role in promoting debt management skills. However, perspectives varied on the effectiveness of the training provided. The study recommended that SACCOs empower members to manage their cash flow better, offering practical knowledge and skills for debt and cash flow management. In conclusion, it emphasized the importance of SACCOs in equipping members with the necessary tools to improve their financial literacy and debt management capabilities.
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