Financial Literacy and the Socio-Economic Impact of Livelihood Assistance in the City of Koronadal

This study examined the financial literacy of beneficiaries of livelihood assistance programs in the City of Koronadal and assessed how such programs influenced their socio-economic conditions. It focused on understanding the levels of financial knowledge, behavior, and attitude among recipients, as well as determining the effect of assistance on their income, food expenditure, education, clothing, housing, and household savings before and after the intervention. A descriptive-correlational quantitative design was used, with 372 respondents selected through stratified random sampling from ten barangays. A structured survey questionnaire was the primary tool for data collection. Statistical analyses included descriptive statistics, paired t-tests, and correlation analysis. Findings revealed that beneficiaries demonstrated a “Very Good” level of financial literacy in all three dimensions. Results of the t-test analysis showed statistically significant improvements across all six socio-economic indicators after receiving assistance. These improvements included increased income, better food access, improved educational and housing conditions, and more consistent saving habits. Furthermore, a significant relationship was found between financial literacy and the socio-economic well-being of the participants. The study concludes that livelihood programs, when paired with basic financial literacy, can bring meaningful and lasting improvements in the lives of informal sector workers. These results highlight the importance of integrating financial education into government support initiatives to ensure long-term sustainability and inclusive growth.