Exploring the financial literacy practices among selected youth entrepreneurs in Lusaka district, Zambia: a phenomenological perspective.
type: CreativeWork
description: This study aimed to explore the financial literacy practices among selected youth entrepreneurs in Lusaka District, Zambia, from a phenomenological perspective. The objectives that guided the study were to: (1) establish the financial literacy practices among selected youth entrepreneurs in Lusaka District, (2) identify factors affecting financial literacy practices among selected youth entrepreneurs in Lusaka District, (3) ascertain the opportunities of financial literacy practices among selected youth entrepreneurs in Lusaka District, and (4) establish the constraints encountered by youth entrepreneurs in financial literacy practices in Lusaka District. A qualitative research approach was adopted and used in which a total sample size of 30 participants, including youth entrepreneurs and officers from the Ministry of Small and Medium Enterprises, were purposively selected from Lusaka District. Data was collected through face-to-face interviews and non-participant observations. An interpretive phenomenological research design was used to explore and analyse the experiences and perspectives of participants in depth. The study found that youth entrepreneurs in Lusaka engage in several key financial literacy practices, which included; budgeting, separating needs from wants, saving for emergencies, setting financial goals, and planning for the future. Furthermore, they recognize the importance of protecting themselves through life insurance and investing in education. Among the factors affecting financial literacy practices included gender, socio-economic status, access to education, professional financial role models, availability of financial training, financial attitude, and psychosocial experiences based on age. The study also established several opportunities associated with financial literacy practices among youth entrepreneurs and these were not limited to; the development of saving habits, access to accurate financial information, financial independence, and the…
abstract: This study aimed to explore the financial literacy practices among selected youth entrepreneurs in Lusaka District, Zambia, from a phenomenological perspective. The objectives that guided the study were to: (1) establish the financial literacy practices among selected youth entrepreneurs in Lusaka District, (2) identify factors affecting financial literacy practices among selected youth entrepreneurs in Lusaka District, (3) ascertain the opportunities of financial literacy practices among selected youth entrepreneurs in Lusaka District, and (4) establish the constraints encountered by youth entrepreneurs in financial literacy practices in Lusaka District. A qualitative research approach was adopted and used in which a total sample size of 30 participants, including youth entrepreneurs and officers from the Ministry of Small and Medium Enterprises, were purposively selected from Lusaka District. Data was collected through face-to-face interviews and non-participant observations. An interpretive phenomenological research design was used to explore and analyse the experiences and perspectives of participants in depth. The study found that youth entrepreneurs in Lusaka engage in several key financial literacy practices, which included; budgeting, separating needs from wants, saving for emergencies, setting financial goals, and planning for the future. Furthermore, they recognize the importance of protecting themselves through life insurance and investing in education. Among the factors affecting financial literacy practices included gender, socio-economic status, access to education, professional financial role models, availability of financial training, financial attitude, and psychosocial experiences based on age. The study also established several opportunities associated with financial literacy practices among youth entrepreneurs and these were not limited to; the development of saving habits, access to accurate financial information, financial independence, and the…
author: Kasonde, Agatha
language: en
date published: 2025
date modified: 2026-07-27T22:05:53Z
provider: University of Zambia
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: The University of Zambia