Financial education and level of indebtedness: analysis in organizations of the popular and solidarity economy
Keywords:
financial education; indebtedness; popular and solidarity economy; formal financing; financial inclusionAbstract
The article analyzed the relationship between financial education and the level of indebtedness in organizations of the popular and solidarity economy in the province of Los Ríos, Ecuador. Using a quantitative, descriptive, and correlational approach, structured surveys and interviews were applied, and a document review was conducted on a sample of 120 organizations selected through stratified sampling. This process identified how the financial knowledge of managers influenced credit management and economic sustainability. The results showed that 85% of managers had a low or medium level of financial education, which was associated with a higher percentage of income allocated to debt repayment and greater access to informal sources of financing. A significant negative correlation was found between financial education and indebtedness, demonstrating that a higher level of training reduced dependence on external credit and favored access to formal financing mechanisms. It was concluded that financial education is a determining factor in strengthening the sustainability of organizations in the popular and solidarity economy, and the implementation of ongoing training programs in the province of Los Ríos was recommended.
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