Financial Knowledge-Based Development of Community Economic Groups in ChalongKrung Housing Area, Nongjok District, Bangkok

Abstract

This research aimed to study the operation and the need to develop Chalongkrung Housing Waste Bank’s operation, to develop financial knowledge base of Community Economic Groups, and to encourage the Community Economic Groups to make a profit plan based on financial knowledge effectively. By means of Research and Development approach, the research was divided into 3 phases. It was found that the waste bank committee needed knowledge on investment project analysis and evaluation, preparation of financial statements, profit planning and determination of members’ remuneration. There were 3 patterns of developing guidelines and method, i.e. arranging meeting among parties involving with waste bank; arranging workshop to enhance financial knowledge; and organizing activities to develop knowledge of waste separation. As a consequence, about 70 percent of the members was able to separate waste correctly. Additionally after the workshop, the participants’ knowledge about waste management was higher than average. Moreover, it was found that after 6 months, there were 66 members participating in the waste bank and it earned operating profit of 3,080.50 baht, or 19.77 percent.