Determinants and Barriers of Saving Habits among NVSU Tricycle Operator and Drivers' Association (TODA) Members

This study investigates the saving practices of members of the Nueva Vizcaya State University Tricycle Operators and Drivers Association (NVSU TODA), utilizing a quantitative approach to reveal factors influencing saving behaviors and associated challenges. Contrary to expectations, age doesn't consistently affect saving habits, but it does show a significant positive link with money management behavior and a notable negative association with the use of savings. Gender differences, family size, education, and daily income distribution present unique challenges, with gender significantly linked to how savings are used and affected by external factors. Internal factors like disciplined financial practices and specific goals play a significant role in shaping saving behaviors. Spending patterns highlight clear priorities, especially in food expenses. External factors, such as limited influence from peers and irregular access to formal financial services, call for community-specific actions. Family support emerges as a positive influencer. Barriers to saving include economic inequality, inflation, and low income. The correlation results provide valuable insights showing the complex relationships between demographic factors and saving behaviors among NVSU TODA members. Recommendations target TODA associations, students, teachers, the community, future researchers, and the government, aiming to enhance financial literacy and address challenges. This study offers practical implications for tailored interventions aimed at improving financial well-being within this specific community.