FINANCIAL MANAGEMENT OF MIGRANT WORKERS: A CASE STUDY OF LAO MIGRANT WORKERS IN NONTHABURI PROVINCE

Abstract

The objectives of this research were to: 1) Study the current situation, conditions, problems, and obstacles in financial management of Lao migrant workers in Nonthaburi Province, 2) Study the necessary needs for developing financial management of Lao migrant workers in Nonthaburi Province, and 3) Study the components of developing financial management for Lao migrant workers in Nonthaburi Province. The research methodology employed qualitative research, collecting data through in-depth interviews with 19 Lao migrant workers and 3 employers of Lao workers in Nonthaburi Province, analyzing data from academic journals, research papers, books, related documents, and content analysis. The research findings revealed that 1) Regarding the situation and problems, Lao migrant workers have systematic financial management, with financial planning, income-expense accounting, and savings discipline. However, they face difficulties accessing basic financial services, such as opening bank accounts, and lack Knowledge about investments and complex financial products. 2) In term of needs, workers require development of financial management skills appropriate to their context, particularly access to financial services, long-term financial planning, and social protection. 3) The key development components include financial planning, savings, and investment, focusing on building the future security from income earned in Thailand. 4) An appropriate system development approach should emphasize financial management education, support for savings and investment, development of convenient access channels to financial services, including welfare from employers, and the integration of cooperation between relevant agencies in the public sector, private sector, and non-governmental organizations.