Financial education and its impact on over-indebtedness: An analysis of merchants at the Santa Rosa Market in Chimborazo Province, Ecuador
DOI:
https://doi.org/10.48082/espacios-a26v47n04i13Abstract
The objective was to determine the impact of financial education on over-indebtedness among merchants at the Santa Rosa Market. Using a mixed-methods, correlational, and cross-sectional approach, a probabilistic sample of 185 merchants and three key informants were evaluated. The quantitative results revealed high levels of multiple credit activities and poor budget planning, while the qualitative analysis confirmed a pathway toward informal, usurious lending. The study concludes that financial education mitigates credit saturation in the informal economy.
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