Procedural and declarative cognitions

2019 ◽  
Vol 35 (4) ◽  
pp. 691-708
Author(s):  
George Okello Candiya Bongomin ◽  
John C. Munene
Keyword(s):  
Developing Countries ◽  
Research Design ◽  
Financial Literacy ◽  
Financial Information ◽  
Cross Sectional ◽  
Content Type ◽  
Financial Decisions ◽  
The Poor ◽  
Poor Households ◽  
Structured Questionnaire

Purpose Premised on the argument that procedural and declarative cognitions help individuals to memorize, store and recall information to make informed decisions and choices in daily life, the purpose of this paper is to analyze the auxiliary psychosomatic roles of procedural and declarative cognitions in promoting financial literacy among clients of microfinance banks in developing countries. Design/methodology/approach The study adopted a cross-sectional research design and a semi-structured questionnaire was used to collect responses from 400 poor households’ heads located in rural Uganda. Analysis of moment structures and structural equation modeling were used to test for the auxiliary psychosomatic roles of procedural and declarative cognitions in promoting financial literacy among the poor who are clients of promotion of rural initiatives development enterprises (PRIDE) microfinance bank in rural Uganda. Findings The results revealed that both procedural and declarative cognitions significantly and positively boost financial literacy among the poor who are clients of PRIDE microfinance bank in rural Uganda. Jointly, both types of cognitions explain 30 per cent of the variation in financial literacy among the poor who are clients of PRIDE microfinance bank. Accordingly, the results correspond to arguments by psychologists that the human mental models help individuals to process, encode, store and retrieve information at an appropriate time such as in articulating complex financial information. Research limitations/implications The study focused majorly on cross-sectional research design. Thus, future studies may use longitudinal research design to explore the ability of the poor to memorize and retrieve financial information over time. Additionally, the study used only quantitative data collected using a semi-structured questionnaire. Further studies may use qualitative data collected by means of interviews. Besides, this study solely used poor households living in rural Uganda as the main source of data. Hence, future studies involving data from other section of the population may be necessary. Practical implications The results from this study underpins the auxiliary psychosomatic roles of procedural and declarative cognitions in promoting financial literacy among clients of microfinance banks in developing countries. Indeed, the human mental models that revolve around cognition as individuals grow are critical in helping them make informed financial decisions when they are faced with difficult financial situations. Therefore, microfinance banks and financial literacy programs in developing countries should consider the roles of procedural and declarative cognitions while designing financial literacy modules. This is because they determine how individuals receive, encode, store and retrieve financial information in order to make informed and better financial decisions before consuming financial products offered by the microfinance banks. Originality/value At present, there is scanty extant literature and theory that explains the auxiliary psychosomatic roles of procedural and declarative cognitions in promoting financial literacy, especially in developing countries. The current study sheds more light on the deterministic roles of procedural and declarative cognitions in boosting financial literacy.

Analyzing the relationship between financial literacy and financial inclusion by microfinance banks in developing countries: social network theoretical approach

2020 ◽  
Vol 40 (11/12) ◽  
pp. 1257-1277
Author(s):  
George Okello Candiya Bongomin ◽  
Joseph Mpeera Ntayi ◽  
Charles Akol Malinga
Keyword(s):  
Developing Countries ◽  
Social Network ◽  
Research Design ◽  
Financial Literacy ◽  
Financial Inclusion ◽  
Mediating Effect ◽  
Cross Sectional ◽  
Content Type ◽  
The Poor ◽  
The Relationship

PurposeThe main purpose of this study is to establish the mediating effect of social network in the relationship between financial literacy and financial inclusion of the poor by microfinance banks in developing countries.Design/methodology/approachThe study adopted a cross-sectional research design and data were collected from the poor who resides in rural Uganda. Structural equation modelling (SEM) through analysis of moment structures (AMOS) was used to analyze the data. Bootstrap approach with 5,000 samples was run to establish the mediating effect of social network in the relationship between financial literacy and financial inclusion of the poor by microfinance banks in developing countries.FindingsThe results showed that social network significantly and positively mediate the relationship between financial literacy and financial inclusion of the poor by microfinance banks in developing countries. In addition, financial literacy also has a direct significant and positive effect on financial inclusion. Overall, the findings suggest that the presence of social network fully mediate the effect of financial literacy on financial inclusion of the poor by microfinance banks in developing countries.Research limitations/implicationsThis study adopted a cross-sectional research design and data were collected using a semi-structured questionnaire. Future studies could adopt longitudinal research design to establish the dynamic characteristics of the samples under study over time. Besides, this study collected data from only poor households who were clients of microfinance banks located in rural Uganda. It ignored the other section of the population who were not the poor. Therefore, future studies could use the other section of the population who are clients of commercial banks.Practical implicationsThe advocates of financial literacy and managers of microfinance banks in developing countries should ensure using existing local structures such as community and village associations to conduct financial literacy training. The village associations help in mobilizing members who are close-knit based on the existing societal ties that can be used as a channel for disseminating vital financial literacy information. Indeed, financial literacy workshops, seminars, and business clinics can be easily conducted to individuals who are members of the village associations.Originality/valueThis paper integrates social network theory in the relationship between financial literacy and financial inclusion of the poor by microfinance banks in developing countries. Social network acts as a conduit through which financial knowledge and skills flow to increase the scope of financial inclusion of the poor in developing countries.

Nexus between financial literacy and financial inclusion

2018 ◽  
Vol 36 (7) ◽  
pp. 1190-1212 ◽  
Author(s):  
George Okello Candiya Bongomin ◽  
John C. Munene ◽  
Joseph Mpeera Ntayi ◽  
Charles Akol Malinga
Keyword(s):  
Research Design ◽  
Financial Institutions ◽  
Interaction Effect ◽  
Financial Literacy ◽  
Financial Inclusion ◽  
Cross Sectional ◽  
Content Type ◽  
Future Studies ◽  
The Poor ◽  
The Relationship

Purpose Premised on the argument that cognition structures the way how individuals think and make decisions, the purpose of this paper is to test the interaction effect of cognition in the relationship between financial literacy and financial inclusion of the poor in rural Uganda. Design/methodology/approach The study used cross-sectional research design and quantitative data were collected and analyzed using Statistical Package for Social Sciences. Baron and Kenny guidelines were adopted to test for existence of moderating effect of cognition in the relationship between financial literacy and financial inclusion of the poor in rural Uganda. Furthermore, ModGraph excel software was used to establish the magnitude of moderating effect of cognition in the relationship between financial literacy and financial inclusion of the poor in rural Uganda. Findings The results revealed that cognition significantly moderate the relationship between financial literacy and financial inclusion of the poor in rural Uganda. In addition, both cognition and financial literacy also have direct effects on financial inclusion of the poor in rural Uganda. Research limitations/implications The study adopted cross-sectional research design and data were collected by use of only questionnaires. Future studies through longitudinal research design may be employed. Besides, further studies using interviews may be adopted. Furthermore, this study collected data from only tier 3 financial institutions, thus, ignoring the other financial institutions. Future studies could focus on financial institutions under the other tiers. Practical implications The findings from the study enlightens policy-makers, managers of financial institutions, and financial inclusion advocates on the importance of cognition in enhancing financial literacy among the poor, especially in rural Uganda. Cognition combined with financial literacy helps the poor to make wise financial decisions and choices toward consuming financial services and products provided by formal financial institutions. This leads to increased scope of financial inclusion of the poor in rural Uganda. Therefore, advocates of financial literacy should assess community cultural cognition and utilize them to design and fashion effective financial literacy interventions that can promote financial inclusion. Originality/value The study uses Baron and Kenny and ModGraph excel software to test for the interaction effect of cognition in the relationship between financial literacy and financial inclusion of the poor in rural Uganda. While several studies exist worldwide on financial inclusion, this study is the first to test the interaction effect of cognition in the relationship between financial literacy and financial inclusion of the poor in rural areas in a developing country context.

Exploring the mediating role of social capital in the relationship between financial intermediation and financial inclusion in rural Uganda

2018 ◽  
Vol 45 (5) ◽  
pp. 829-847 ◽  
Author(s):  
George Okello Candiya Bongomin ◽  
John C. Munene ◽  
Joseph Mpeera Ntayi ◽  
Charles Akol Malinga
Keyword(s):  
Social Capital ◽  
Research Design ◽  
Financial Intermediation ◽  
Financial Inclusion ◽  
Cross Sectional ◽  
Content Type ◽  
Mediating Role ◽  
The Poor ◽  
The Relationship

Purpose The purpose of this paper is to establish the mediating role of social capital in the relationship between financial intermediation and financial inclusion in rural Uganda. Design/methodology/approach The current study used cross-sectional research design and a semi-structured questionnaire was used to collect data for this study. The study applied structural equation modeling through bootstrap approach in AMOS to establish the mediating role of social capital in the relationship between financial intermediation and financial inclusion. Findings The results indicated that social capital significantly mediates the relationship between financial intermediation and financial inclusion in rural Uganda. Therefore, it can be deduced that social capital among the poor play an important role in promoting financial intermediation for improved financial inclusion in rural Uganda. Research limitations/implications Although the sample was large, it may not be generalized to other segments of the population. Data were collected from only poor households located in rural Uganda. Besides, the study was cross-sectional, thus, limiting efforts in investigating certain characteristics of the sample over time. Perhaps future studies could adopt the use of longitudinal research design. Practical implications Financial institutions such as banks should rely on social capital as a substitute for physical collateral in order to promote financial inclusion, especially among the poor in rural Uganda. Originality/value This study provides empirical evidence on phenomenon not studied in rural areas in Sub-Saharan Africa where the poor use social capital embedded in customs and norms for doing business. The results highlight the importance of social capital in mediating the relationship between financial intermediation and financial inclusion of the poor in rural Uganda.

scholarly journals Inclusive Islamic financial planning: a conceptual framework

2016 ◽  
Vol 9 (2) ◽  
pp. 170-189 ◽  
Author(s):  
Habib Ahmed ◽  
Ak Md Hasnol Alwee Pg Md Salleh
Keyword(s):  
Conceptual Framework ◽  
Low Income ◽  
Financial Literacy ◽  
Financial Planning ◽  
Institutional Development ◽  
Financial Inclusion ◽  
Social Planner ◽  
Content Type ◽  
The Poor ◽  
Poor Households

Purpose This paper aims to develop a conceptual framework of inclusive Islamic financial planning (IFP) by combining the traditional Islamic institutions of zakat and awqaf with contemporary notions of financial planning, financial inclusion and financial literacy that caters to the short-term and long-term financial goals of the poor. Design/methodology/approach Being a conceptual article, an inclusive IFP framework is described, analyzed and developed by integrating modern notions of financial inclusion, financial planning and financial literacy with the concepts of zakat and awqaf. Findings Using the notion of a hierarchy of needs and a financial planning model, an inclusive IFP framework that can be used by the poor is outlined. The complementary role of the non-poor households who provide funds for zakat and awqaf is also identified. Research limitations/implications The applicability of an inclusive IFP would require Islamic financial instruments and products, institutional development and existence of a social planner who can integrate zakat, awqaf and financial planning to serve the financial needs of the poor. Social implications Application of an inclusive IFP that can mitigate poverty would necessitate integrating financial planning skills and knowledge with traditional institutions of zakat and awqaf to provide holistic financial advice and services to the poor households. Originality/value Discussion of financial planning in financial inclusion literature is scant. The paper explores and offers a novel approach of poverty mitigation by utilizing the full spectrum of IFP that considers the financial needs and allows for the creation of a personalized financial plan for low-income households.

Actions beyond regulatory compliances: perceived climate strategy proactivity in Indian companies

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nikhil Kant
Keyword(s):  
Developing Countries ◽  
Online Survey ◽  
Developed Countries ◽  
Decision Makers ◽  
Cross Sectional ◽  
Content Type ◽  
Analytical Research ◽  
Climate Crisis ◽  
The Impact ◽  
Structured Questionnaire

Purpose This paper aims to assess the perceptions of stakeholders as regards the practices of Indian companies vis-à-vis climate change seeking underpinnings from stakeholder theory and collecting data using a structured questionnaire. Design/methodology/approach This paper used a descriptive analytical research design based on the data collected from a diverse sample of stakeholders of Indian companies through a cross-sectional, self-administered online survey questionnaire. Findings The study attaching significance to the stakeholders’ perception as a useful tool underscores that Indian companies have started to engage in preventive measures to minimize the externalities of climate crisis taking cognizance of the stakeholders’ interests amidst their increased awareness, also underlining that their perceptions substantially determine climate strategy proactivity (CSP) in their quest of competitive advantage beyond regulatory compliances. The study finds that incessant growth in the stakeholder awareness has not left companies to remain reluctant from analyzing effects and adopting suitable strategies in India also which, as a fast growing developing country, has witnessed immense growth in the post-liberalization era. Research limitations/implications This study would help decision-makers in businesses, policymakers, practitioners and standard-setters by providing further insights on the relevance of stakeholders’ perspectives in CSP in the developing countries. Stakeholders’ perceptions though representing varied categories hint that the actions beyond regulatory compliances need to be in focus in future studies. Originality/value The paper elaborates the significance of CSP in developing countries to eliminate the impact of inadequacies that previous studies undertook primarily in developed countries have failed in contextualizing these issues of developing countries.

Social network

2018 ◽  
Vol 9 (3) ◽  
pp. 388-406 ◽  
Author(s):  
George Okello Candiya Bongomin ◽  
John C. Munene ◽  
Joseph Mpeera Ntayi ◽  
Charles Akol Malinga
Keyword(s):  
Social Network ◽  
Predictive Power ◽  
Well Being ◽  
Financial Inclusion ◽  
Least Square ◽  
Coefficient Of Determination ◽  
Cross Sectional ◽  
Content Type ◽  
The Poor ◽  
Poor Households

Purpose The purpose of this paper is to test for the predictive power of each of the dimensions of social network in explaining financial inclusion of the poor in rural Uganda. Design/methodology/approach The study employed a cross-sectional research design and data were collected from a total of 400 poor households located in Northern, Eastern, Central and Western Uganda. The authors adopted ordinary least square hierarchical regression analysis to test for the predictive power of each of the dimensions of social network in explaining financial inclusion of the poor in rural Uganda. The effects were determined by calculating the significant change in coefficient of determination (R2) between the dimensions of social network in explaining financial inclusion. In addition, analysis of variance was also used to test for variation in perceptions of the poor about being financially included. Findings The findings revealed that the dimensions of ties and interaction significantly explain financial inclusion of the poor in rural Uganda. Contrary to previous studies, the results indicated that interdependence as a dimension of social network is not a significant predictor of financial inclusion of the poor in rural Uganda. Combined together, the dimensions of social network explains about 16.6 percent of the variation in financial inclusion of the poor in rural Uganda. Research limitations/implications The study was purely cross-sectional, thus, ignoring longitudinal survey design, which could have investigated certain characteristics of the variable over time. Additionally, although a total sample amounting to 400 poor households was used in the study, the results cannot be generalized since other equally marginalized groups such as the disabled persons, refugees, and immigrants were not included in this study. Furthermore, the study used only the questionnaire to elicit responses from the respondents. The use of interview was ignored during data collection. Practical implications Policy makers, managers of financial institutions, and financial inclusion advocates should consider social network dimensions of ties and interaction as conduits for information flow and sharing among the poor including the women and youth about scarce financial resources like loans. Advocacy towards creation of societal network that brings the poor together in strong and weak ties is very important in scaling up access to and use of scarce financial services for improving economic and social well-being. Originality/value Contrary to previous studies, this particular study test the predictive power of each of the dimensions of social network in explaining financial inclusion of the poor in rural Uganda. Thus, it methodologically isolates the individual contribution of each of the dimensions of social network in explaining financial inclusion of the poor. The authors found that only ties and interaction are significant predictors of financial inclusion of the poor in rural Uganda. Therefore, the findings suggest that not all dimensions of social network are significant predictors of financial inclusion as opposed to previous empirical findings.

The relationship between access to finance and growth of SMEs in developing economies

2017 ◽  
Vol 27 (4) ◽  
pp. 520-538 ◽  
Author(s):  
George Okello Candiya Bongomin ◽  
Joseph Mpeera Ntayi ◽  
John C. Munene ◽  
Charles Akol Malinga
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Developing Economies ◽  
Moderating Effect ◽  
Access To Finance ◽  
Cross Sectional ◽  
Content Type ◽  
Financial Decisions ◽  
Positive Effects ◽  
The Relationship

Purpose The purpose of this paper is to establish the moderating effect of financial literacy in the relationship between access to finance and growth of small and medium enterprises (SMEs) in developing economies. Thus, this study seeks to establish whether financial literacy moderates the relationship between access to finance and growth of SMEs in a developing economy like Uganda. Design/methodology/approach Cross-sectional research design was used in the study and data were collected from 169 SMEs located in Jinja and Iganga central markets. ModGraph (excel programme) was used to test for the moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies. Findings The findings reveal a positive and significant moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies. In addition, financial literacy and access to finance also have significant and positive effects on growth of SMEs in developing economies. Research limitations/implications The study collected data from only SMEs located in Uganda, and there is an opportunity to test this finding in other developing economies. Furthermore, the findings from the study are based on quantitative data collected through use of semi-structured questionnaires. Besides, the study was purely cross-sectional; hence, it ignores the characteristics of SMEs, which could be investigated using a longitudinal study design. Practical implications The study highlights the importance of financial literacy in promoting access to finance, which is necessary for the growth of SMEs in developing economies. Owners of SMEs could attend financial literacy programmes provided by entrepreneurial skill development organizations to enable them to acquire financial knowledge and skills to make wise and better financial decisions and choices. Originality/value The study contributes to existing international entrepreneurship literature by indicating the moderating effect of financial literacy in the relationship between access to finance and growth of SMEs in developing economies. The study shows that for SMEs to access finance to grow there is a need for financial literacy that promotes effective and efficient use of loans/credits. SMEs in developing economies need financial literacy, which helps them make wise financial decisions and choices before accessing financial services like loans.

Socioeconomic inequality in catastrophic healthcare expenditures in Western Iran

2019 ◽  
Vol 46 (9) ◽  
pp. 1049-1060 ◽  
Author(s):  
Satar Rezaei ◽  
Mohammad Hajizadeh ◽  
Sina Ahmadi ◽  
Sadaf Sedghi ◽  
Bakhtiar Piroozi ◽  
...  
Keyword(s):  
Health Insurance ◽  
Healthcare Expenditure ◽  
Socioeconomic Inequality ◽  
Insurance Coverage ◽  
Health Insurance Coverage ◽  
Cross Sectional Study ◽  
Cross Sectional ◽  
Content Type ◽  
The Poor ◽  
Poor Households

Purpose Financial protection of households against catastrophic healthcare expenditure (CHE) is defined as one of the main goals in health systems. The purpose of this paper is to measure and decompose socioeconomic inequality in CHE among households in Kermanshah province, Western of Iran. Design/methodology/approach This cross-sectional study was carried out among 1,188 households in 2017. Data were extracted from the Household Income and Expenditure Survey which is conducted by the Statistical Center of Iran. The CHE is defined as household healthcare expenditure greater than or equal to the 40 percent of household’s “capacity to pay.” The concentration curve and the Wagstaff (W) and Erreygers (E) indexes were used to illustrate and measure the extent of socioeconomic inequality in CHE. In addition, the authors decomposed the W and E indexes to identify the main determinants of socioeconomic inequality in CHE. Findings The results indicated that the prevalence of CHE among households was 4.12 percent (95% confidence interval (CI): 3.13 to 5.42 percent). The estimated value of the W and E indexes were −0.2849 (95% CI: −0.4493 to −0.1205) and −0.0451 (95% CI: −0.0712 to −0.0190), respectively; suggesting the concentration of CHE prevalence among the poor households. Decomposition analyses indicated socioeconomic status as the most important factor contributing to the concentration of CHE among the poor. In contrast, health insurance coverage was found to increase the concentration of CHE among the rich in Iran. Originality/value The current study demonstrated a higher concentration of CHE among the poor households in Kermanshah province. These results call for the government’s efforts to reduce healthcare expenditure among socioeconomically disadvantaged populations. Further studies are required to understand the mechanisms through which health insurance coverage increased the probability of CHE among rich in Kermanshah province.

Literacy matters in marketing

2017 ◽  
Vol 35 (5) ◽  
pp. 750-760 ◽  
Author(s):  
Bruce A. Huhmann
Keyword(s):  
Financial Literacy ◽  
Service Providers ◽  
Theoretical Explanation ◽  
Financial Service ◽  
Financial Information ◽  
Content Type ◽  
Financial Decisions ◽  
Construct Definition ◽  
Domain Specific ◽  
Advance Research

Purpose Literacy represents one’s ability to process and produce materials related to a domain. One type of this higher-order, global individual difference variable is consumer financial literacy. It stems from one’s financial information processing capacity, prior financial knowledge, and proficiency in optimizing financial decisions and managing financial resources. The paper aims to discuss these issues. Design/methodology/approach The research matching perspective theoretically explains findings related to literacy, including those in this special issue. Optimal processing arises as available and required processing resources correspond. Thus, cognitive comprehension and behavioral application/decision-making outcomes following financial marketing communication exposure are optimized when consumer financial literacy matches the level needed for successful processing. Insufficient or excess available resources harm outcomes. Findings The resource-matching perspective clarifies consumers’ increasing financial difficulties. Consumers limit personal finance efforts because required resources overwhelm limited financial literacy. However, education or experience can expand consumer financial literacy. Alternatively, financial service marketers may accommodate low consumer financial literacy by simplifying financial information presentation. Consumers reward firms that show sensitivity to their domain-specific literacy limitations with stronger loyalty. Research limitations/implications Construct definition is vital to advance research. Yet, financial literacy has no generally accepted definition. This paper’s definitions should aid understanding of the psychological underpinnings of financial literacy’s components. Originality/value Much has been written about consumers’ inability to manage personal finances. This paper provides a unified, theoretical explanation for consumers increasing financial literacy difficulties and suggests ways that consumers, financial service providers, and public policy makers can overcome these difficulties.

Financial literacy in emerging economies

2017 ◽  
Vol 43 (12) ◽  
pp. 1310-1331 ◽  
Author(s):  
George Okello Candiya Bongomin ◽  
John C. Munene ◽  
Joseph Mpeera Ntayi ◽  
Charles Akol Malinga
Keyword(s):  
Financial Literacy ◽  
Financial Inclusion ◽  
Cross Sectional ◽  
Content Type ◽  
Knowledge And Skills ◽  
Functional Measures ◽  
Poor Households ◽  
The Individual ◽  
The Impact ◽  
Functional Components

Purpose The purpose of this paper is to examine the impact of individual components of financial literacy in promoting financial inclusion of poor households in rural Uganda. Design/methodology/approach The study was cross-sectional combined with correlation and regression analyses. Data were collected from 400 poor households drawn from four regions in rural Uganda. Hierarchical regression analysis was used to test for the contribution of individual components of financial literacy on financial inclusion of poor households in rural Uganda. In addition, confirmatory factor analysis was used to establish existence of convergent validity between the items used to measure the different constructs under study. Furthermore, analysis of variance was also adopted to test for variation in perceptions of poor households on being financially included. Findings The results generated from the study revealed that only attitude as a component of financial literacy significantly and positively predicts financial inclusion of poor households in rural Uganda. Contrary to previous thinking and empirical studies, behavior, knowledge, and skills are not significant predictors of financial inclusion of poor households in rural Uganda. Overall, the combined effect of the different components of financial literacy explains about 11.2 percent of the variance in financial inclusion of poor households in rural Uganda. Research limitations/implications The study was not without limitations. The study adopted only cross-sectional study design, thus, leaving out longitudinal study. Therefore, future studies employing longitudinal research design worth undertaking. Furthermore, the sample although large enough focused only on poor households located in rural Uganda, therefore, ignoring peri-urban and urban areas in Uganda. Besides, the study used only quantitative data, thus, qualitative study using key informant interviews may be considered for further research. Practical implications The paper indicates that policy makers, advocates of financial inclusion and researchers, should reconsider investigating individual contribution of the different components of financial literacy in promoting financial inclusion of poor households in rural Uganda. For researchers, it is important to re-analyze the individual components of financial literacy of behavior, knowledge, skills, and attitude in influencing financial inclusion of poor households in rural Uganda. Originality/value This paper combines both functional components (behavior and attitude) and non-functional measures (knowledge and skills) of financial literacy to explain financial inclusion of poor households in rural Uganda. Most financial literacy studies have mainly adopted only non-functional measures of knowledge and skills. Besides, these studies ignore the individual contribution of functional components and non-functional measures of financial literacy in explaining financial inclusion of poor households. Thus, this study is the first to examine the impact of individual components of financial literacy in explaining financial inclusion of poor households in rural Uganda.

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