Influence of Debt Behavior and Management on the Debt Burden of Members of the Saraburi Hospital Savings Cooperative

Abstract

This study aimed to examine the factors influencing the debt burden of members of the Saraburi Hospital Savings Cooperative using multiple regression analysis. The dependent variable was the debt burden of cooperative members, while the independent variables included personal factors, basic needs related to consumption, utilities, housing, healthcare, education, and social activities, along with personal values, investment behavior, and debt management approaches. The sample consisted of 342 members.
The results revealed that: The majority of cooperative members were female, aged between 41 and 50 years (38.9%). In terms of education, 82.5% had completed a bachelor’s degree. Regarding income, 13.5% earned between 50,001 and 55,000 baht per month. Most members (26.7%) had debts not exceeding 400,000 baht, while 26.3% reported having no debt. With respect to debt incurrence and management behaviors, members exhibited moderate levels of needs related to consumption, utilities, housing, and healthcare. For other needs, members consistently demonstrated spending behaviors influenced by personal values. Factors found to significantly affect the debt burden, at a statistically significant level, included being aged 21-30 years (B = -6.13, p = 0.015), holding a bachelor’s degree (B = 7.16, p = 0.005), consumption needs (B = 3.49, p = 0.015), housing needs (B = 4.19, p = 0.000), and educational needs (B = 3.35, p = 0.000). The regression model explained 47.3% of the variance in debt burden (R² = 0.473). These findings indicate that a considerable portion of debt arises from investments in quality of life rather than from extravagant consumption. This reflects a positive outlook on self-investment, aiming to generate long-term returns, which can be applied in personal financial planning and in the formulation of effective credit policies for the cooperative.