Evaluating financial literacy and behavior among online sellers in Zambales

This study was solely focused on the financial literacy level and financial behavior of the online sellers in Iba, Zambales as to their cash management; expenditure; savings; and investments. The researchers utilized the quantitative descriptive correlational research design with questionnaire as the main instrument in gathering data from the one hundred forty (140) online sellers in Iba, Zambales who were randomly selected.

The researchers found out that the majority of the respondents are female in their early adulthood, single, college undergraduate major in business, with meagre income, had monthly expenses more than the income and saving, and neophyte in online selling business. The respondents stood well-educated on the dimensions towards the factors of financial literacy as to cash management, expenditures, savings and investment. The respondents strongly agreed on the dimensions towards the factors of financial behavior as to cash management, expenditures, savings and investment. There were significant differences on the perceptions of the respondents when grouped towards dimensions on financial literacy as to their monthly income, monthly expenses and monthly savings, highest educational attainment, and years in online selling respectively. There are significant differences on the perceptions of the respondents when grouped towards dimensions on financial behavior as to their monthly income, monthly expenses and monthly savings, and area of specialization respectively. There is positive moderate relationship between financial literacy and financial behavior.

Based on the summary of the investigations conducted, and the conclusions arrived at, the researchers recommended that online sellers are still encouraged to attend financial management seminars to maintain a high level of financial literacy and behavior to prevent losses, financial squander, and misuse; establish a family savings culture; have a financial record management to sustain the monitoring of their inventory and future decisions; and lastly, future researchers may conduct a replication of this study.