Developing a Community-Based Savings and Investment Framework: An Evaluation of the Community Extension Program in Barangay Paknaan, Mandaue City
DOI:
https://doi.org/10.67167/vertex.554Keywords:
financial management, savings practices, investment behavior, community-based framework, financial literacy, sustainable business growthAbstract
Financial Management in the context of savings and investment practices are critical for household stability and community development, yet many residents in low-resource settings face unique challenges in achieving economic resilience. This study aimed to explore the financial behaviors, challenges, and opportunities of residents in Barangay Paknaan, Mandaue City, with the purpose of developing a localized savings and investment framework that complements their socioeconomic circumstances and provides innovative guidance for community workshops and seminars. A qualitative case study approach was employed, selecting ten (10) residents through purposive-simple random sampling, with data collected via focus group discussions and one-on-one interviews and analyzed using thematic analysis. The findings revealed six key financial behavior themes; structured and purpose-driven saving practices, community-based and informal financial systems, survival-oriented spending priorities, small business-centered financial management, incremental micro-entrepreneurial investments, and asset-based long-term financial planning; and five key challenges, including financial, economic, personal/family-related, knowledge and skills limitations, and coping and management challenges. In terms of opportunities, informants highlighted motivation for savings and investments, access to financial institutions and services, skills development and financial education, institutional and community support, and business expansion and growth goals. The study concluded that residents employ a combination of disciplined saving, entrepreneurial reinvestment, and community-based financial strategies to navigate limited resources and achieve long-term goals. Findings support existing literature on goal-oriented savings, micro-investments, and structured financial practices while contributing new insights on the critical role of localized institutional and community support. These results provide actionable recommendations for creating a community-centered framework that strengthens financial literacy, promotes household resilience, and fosters sustainable business growth in the barangay.
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