Abstract

Author:
Elaine Joy C. Apat*, Marierose P. Valenzuela, Jeffrey R. Ayala

Doi: 10.26480/mbmj.02.2024.93.97

This is an open access article distributed under the Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

To sustain a business whether small or big businesses, capital and manpower is not adequate. Indeed, budget management both for personal and business is necessary. This study is a phenomenological analysis focused on the live experiences of the public market entrepreneurs in the 3rd district of Laguna province. We, the researchers purposively chosen and interviewed four in each town or city, totaled with 28 public market entrepreneurs from the district covering 7 towns and cities. The interview questions were validated by the proper authorities. The data gathered were transcribed, interpreted manually using thematic analysis and later underwent peer debriefing. Results and findings revealed that most of the participants are in the ages of middle to late adulthood with two or more dependents and low-income entrepreneurs. They believed that budget management is a key to financial success. In budget planning, they are prioritizing food and business rents, they allocate budgets for paying loans and no budget for emergency purposes. Participants tends to borrow money from friends and family when experiencing emergencies whether personal or business-related matters.