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This research aims to 1) study and measure level of financial literacy and its components among native rice farmers in Pak Panang basin 2) study personal factors related to financial literacy of native rice farmers in Pak Panang basin 3) provide suggestions to improve financial literacy of native rice farmers in Pak Panang basin. The data have been collected from 162 rice farmers in Tambon Pakphreak, Tambon Khanabnak, Tambon Banpheing, and Tambon Thapaya in Pak Panang District, Nakhon Si Thammarat Province
The results have been found that financial literacy level of farmers is moderate. The results in regard to components of financial literacy show that financial knowledge and attitude level of farmers are moderate, while their financial behavior level is high. The majority of farmers tend to be able to answer only simple questions, but make mistake in complex questions. Most of them have proper discipline in financial behavior. However, over haft of them do not do the bookkeeping, which is the only weak area of their financial behavior. Another interesting finding has been shown that highest financial attitude score is satisfaction over financial position, whereas the average income of farmers is low. A comparison between different personal factors of farmers reveals that gender, age, education, and bookkeeping are related to their financial literacy level. In addition, it has been found that farmers who plant different rice varieties have similar financial literacy level, except Yumnoon rice farmers. The results show that this group has significantly lower financial literacy scores compared to the other groups.
In general, the results of this research suggests that farmers must be encouraged and supported to improve their financial literacy, especially the complex financial knowledge which are important to their personal financial management. These encouragement and support should be given to the farmers together with their motivation to do bookkeeping. As a consequence, the farmers will emphasize the use of accounting information to support their financial decision-making.
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