Financial Education and its Impact on the Sustainability of ESPAM MFL Student

Abstract

Introduction: The study addresses the importance of financial education in the sustainability of student-led ventures at the Escuela Superior Politécnica Agropecuaria de Manabí (ESPAM MFL). The lack of adequate financial knowledge can compromise the viability of businesses, especially among young entrepreneurs, who often lack the skills to manage their resources. In Ecuador, a high percentage of entrepreneurs fail to achieve the expected income, highlighting the need to strengthen financial competencies. Results reveal that although 61.6% of students create a budget, 38.5% do not carry out adequate financial planning. Only 3.8% have received formal training in financial education, limiting their ability to make informed decisions. Despite this, 92.3% reinvest in their businesses, reflecting a commitment to growth. The discussion emphasizes that financial education is crucial to avoid mistakes that could jeopardize the viability of ventures. The lack of formal training results in reliance on external resources, affecting financial stability. It is concluded that integrating financial education programs into ESPAM MFL's curriculum would not only improve students' individual competencies but also contribute to the region's economic development, allowing ventures to grow in a sustainable and resilient manner.