Abstract

Author:
Elaine Joy C. Apat, Julieta A. Sumague, Geradine M. Tilap, Desiree L. Wagan, Guillermo B. Briones

Doi: 10.26480/jtwe.01.2024.56.61

This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Individuals accumulate funds for acquisitions and unforeseen circumstances. This study aims to assess the awareness and intention in savings and investment of public market owners in the 3rd district province of Laguna, Philippines, using a quantitative-descriptive research method with data gathered from 145 business owners. Results revealed that they are aware of savings and investing through friends and family, save for children’s education, and prefer to invest in private sectors, allocating one third to half of their income in a long-term manner. There are significant differences in awareness of saving and investing based on age and sex, and differences in investing methods based on age and educational background. Additionally, they significantly differ in saving objectives and investment duration by age, and in consulting friends or relatives before choosing an investment based on the number of dependents. Preferences in what to consider before investing and investment types also differ significantly with annual income. The study recommends that local government interventions focus on empowering public market entrepreneurs to better consider factors when choosing financial institutions for saving and investing, in alignment with their financial goals, while also helping them develop skills to safeguard themselves, their businesses, and families against unexpected events that could affect their financial stability.