DOI: https://doi.org/10.36347/sjebm.2025.v12i09.001

Pages: 228-241

Tricycles are the most common mode of transportation in the Philippines. Financial instability has been one of the significant obstacles for tricycle drivers due to various reasons. However, no relevant local studies were found relating to the financial difficulties and coping mechanisms in the existing body of research within the community. The main objective of this qualitative study was to explore the financial challenges faced by tricycle drivers and identify the coping mechanisms they have used to understand how these challenges and strategies impact their overall well-being and quality of life. The researchers conducted in-depth interviews and analyzed the responses from 14 selected participants using purposive sampling. A phenomenological research approach was employed, and thematic analysis was used to identify the commonalities and divergences of the participants' narratives. The study revealed that tricycle drivers faced considerable financial challenges due to unstable income, high fuel and tricycle maintenance costs, heavy debt, and difficulty sustaining family needs. Their long working hours and stress levels impacted their physical and mental well-being. This research suggests that the government must provide financial support to tricycle drivers through loan programs, cash assistance, or fuel subsidies to establish a policy that can elevate the tricycle driver's financial standing. Furthermore, financial institutions must offer more flexible loan alternatives to tricycle drivers, such as extended payback terms and reduced interest rates.