Financial education and its predictive factor for debt levels among Peruvian SME workers
DOI:
https://doi.org/10.53732/rccsociales/e8856Keywords:
actitud financiera, comportamiento financiero, conocimiento financiero, educación financiera, endeudamiento financiero, PerúAbstract
The objective of this study is to determine the relationship between financial education and the level of indebtedness among workers in Peruvian small-to-medium enterprises (SMEs). A quantitative, non-experimental, cross-sectional, descriptive, and correlational methodology was employed. A survey was administered using two instruments. For the financial education variable, a questionnaire consisting of 22 items organized into three dimensions was used, with a four-point Likert scale (George et al.). For the debt variable, the instrument proposed by Denegri et al. was used, which consists of 11 items, also with a four-point Likert scale. The sample comprised 258 workers. The data were analyzed using the SPSS statistical system, which included descriptive tables and correlation tests, showing a significant relationship between financial education and financial debts (Rho = .454), financial knowledge and financial debts (Rho = 1.00), financial behavior and financial debts (Rho = .729), and financial attitude and financial debts (Rho = .594). The results indicate that workers with stronger financial literacy skills are more likely to engage in effective debt avoidance strategies. After analyzing the results, it was concluded that strengthening financial education among SME workers could help reduce debt levels.
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