THE PARTICIPATORY HOUSEHOLD ACCOUNTING IN COVID-19 ERA FOR FINANCIAL PLANNING CASE STUDY: PHAI PHRA SUBDISTRICT, BANG SAI DISTRICT, PHRA NAKHON SRI AYUTTHAYA PROVINCE

Abstract

The objectives of this research article were to study the context and lifestyle, income-expense household, household debt, and to give guidelines for financial management plans. The sample size 145 households living in Phai Phra Sub-District, Bang Sai district, Phra Nakhon SRi Ayutthaya Province, Data were gathered using income-expense accounting books and the semi-structure interview. Data were analyzed by using descriptive statistics such as frequency, percentage, mean, and content analysis.

Results indicated that most of the population in the Sub-District, 90% were engaged in agriculture. The way of life of the people in the community was found that there was a group to practice vocational skills using raw materials in the community as local wisdom. Households had a mean income of 16,325.68 baht per month per household. Average expenditure was 11,382.27 baht per month per household. Before making account household expenses accounted for 65.02% of income, after making account, household expenses accounted for 58.82% of income resulting in increased savings from 6.2 percent. 38% of households were in debt The three most common debts were car loan debt. followed by debt from bank loans and debt from motorcycle installments. After doing household accounting, it was found that 16.36% were out of debt and 43.64% had reduced debt. Financial management planning includes increasing income, reducing expenses, reducing debt, having appropriate savings and investing money to create future added value.