A Model for Reducing Debt Problems According to the Philosophy of Sufficiency Economy Among Informal Workers, Mueang District, Nakhon Nayok Province

Abstract

The objectives of this research, a model for reducing debt problems according to the philosophy of sufficiency economy among informal workers, Mueang district, Nakhon Nayok province, were 1) to analyze the indebtedness among informal workers, 2) to design a household accounting system to reduce the debt problem of informal workers, 3) to convey the process of recording household accounts to informal workers, and 4) to propose a model for reducing debt problems among informal workers. The sample used in this research consisted of 30 informal workers in Nonbok village, Sarika subdistrict, Mueang district, Nakhon Nayok province, selected by purposive sampling, and the interview was conducted as a research tool. The results of the research were as follows: 1) By studying the indebtedness among the sample group of 30 people, divided into 14 males and 16 females, it was found that their occupations were trading with an average income of 1,000 baht per day, farmers with an average annual income of 50,000–60,000 baht, and general workers with an average income of 300–1,000 baht per day. The income was uncertain; as a result, it caused loans both in formal and informal systems. The causes of debt were from having insufficient income compared to expenses necessary for the livelihood of family members and having occupational expenses. Moreover, many families had extravagant expenses. 2) Informal workers were aware of household accounts but did not have accounting records. They knew what income and expenditure were but could not separate the types of expenditures. They also recognized saving but lacked practice. As for the concept of Sufficiency Economy Philosophy, they had very little knowledge, lacked understanding, and did not apply the guidelines to their daily lives. 3) The bookkeeping process was conveyed by training and practice in household accounting preparation according to the concept of Sufficiency Economy Philosophy.  Informal workers were assigned to record household accounts for three months, and the researcher monitored and participated in evaluating the accounting results. 4) Regarding a model for reducing debt problems, it was found that there was an interest in processing products from black sugarcane with the need to make a cycle from upstream to downstream. It started with sugarcane planting in the area. When products were obtained, they were then processed into sugarcane juice and sweets from sugarcane. In addition, the group wanted to reduce the expenditure of buying fertilizers or pesticides and therefore made their own bio-fertilizers for household use.