FINANCIAL MANAGEMENT TRAINING TO IMPROVE LITERACY AND FINANCIAL MANAGEMENT EFFICIENCY FOR SMEs IN THE SPECIAL CHOICE OF IRON BUSINESS IN TIMANG DELI – MEDAN AMPLAS

Abstract

Abstract

Financial management is a crucial aspect in supporting individual well-being and organizational sustainability. A lack of understanding of financial management often leads to poor financial planning, spending control, and sound financial decision-making skills.

This Community Service (PkM) activity aims to improve literacy and financial management skills for MSMEs in the Specially Selected Iron business (abbreviated as BP K in this business), which is located in the Timbang Deli area - Medan Amplas.

   The activity was held on June 25, 2026, to June 27, 2025, with 25 participants. The implementation method included identifying participant needs, delivering materials, interactive discussions, financial budget preparation simulations, and activity evaluation.

The implementation results demonstrated an increase in participants' understanding of personal and family financial management, budgeting, debt management, and the importance of investing and emergency funds. This activity had a positive impact on improving participants' financial literacy and is expected to support healthier and more productive financial behaviors.

Keywords:Financial Management, Financial Literacy, Community Service, Financial Planning, Employees.