Financial Planning of Organic Vegetable Farmer in Maha Sarakham Province

Abstract

This study aimed 1) to study the financial planning of organic vegetable farmers in Maha Sarakham province and 2) to identify the appropriate personal financial planning model for organic vegetable farmers in Maha Sarakham province. The population and sample group were organic farmers in Phon Ngam subdistrict, Kosum Phisai district, Maha Sarakham province, and persons related to farmer finance and investment, selected by purposive sampling. The study took place from October 2022 to September 2023. The quantitative sample group consisted of 394 farmers, and the qualitative sample group consisted of four persons related to farmer finance and investment. Statistics used for quantitative analysis comprised descriptive statistics and content analysis was used for qualitative analysis. The study was found that 1)the farmers only took out loans after carefully weighing their decisions;  2) the farmers considered taking health and life insurance in the future; 3) the farmers were mindful of their acceptable risk levels, or controlled investment risks. Suggestions from the financial experts from four representative agencies covered how to appropriately plan personal finance for the organic farmers in Maha Sarakham Province. Personal finance planning for the farmers should accommodate revenue fluctuations due to factors such as the weather, natural disasters, market fluctuations, and growing seasons.