A comparison on financial literacy between welfare recipients and non-welfare recipients in Brunei

2015 ◽  
Vol 42 (7) ◽  
pp. 598-613 ◽  
Author(s):  
Ak Md Hasnol Alwee Pg Md Salleh
Keyword(s):  
Low Income ◽  
Financial Literacy ◽  
Well Being ◽  
Literacy Programs ◽  
Welfare Recipients ◽  
Structured Interviews ◽  
Welfare Programs ◽  
Content Type ◽  
Logistic Regressions ◽  
Random Sampling Approach

Purpose – The purpose of this paper is to provide insights onto the level of financial literacy in Brunei, notably focussing on the findings of welfare recipient’s vis-à-vis non-welfare recipients. Design/methodology/approach – Findings are based on structured interviews with 431 heads of households (215 welfare recipients and 216 non-welfare recipients), within the realm of money management, emergency planning and investing for goals. To analyze the data, Pearson’s χ2 test and logistic regressions are undertaken. Findings – The findings underline the importance of enhancing the level of financial literacy, notably for low-income households and those in poverty, as the analysis highlighted their level of financial literacy was significantly lower than non-welfare recipients. Research limitations/implications – Future researches may want to consider a random sampling approach and/or using other districts in the country, to ascertain a representative set of findings. Practical implications – The implication of the findzings highlights the need for welfare programs to consider incorporating financial literacy programs, designed specifically for welfare recipients, distinct from non-welfare recipients. Originality/value – There is currently no known research on financial literacy related to Brunei. Further, the paper also focusses on financial literacy, as a means to assist those in welfare or poverty, in order to enhance their financial well-being.

Financial capabilities development: essential discourse in social work

2019 ◽  
Vol 46 (10) ◽  
pp. 1234-1246
Author(s):  
Lambert K. Engelbrecht ◽  
Abigail Ornellas
Keyword(s):  
Sustainable Development ◽  
Social Work ◽  
Financial Literacy ◽  
Community Education ◽  
Work Practice ◽  
Well Being ◽  
Social Work Practice ◽  
Content Type ◽  
Vulnerable Households ◽  
Definition Of

Purpose Within a neoliberal environment, financial vulnerability of households has become an increasing challenge and there is a requirement of financial literacy education, a necessary activity to facilitate sustainable development and well-being. However, this is seldom a mainstream discourse in social work deliberations. The paper aims to discuss these issues. Design/methodology/approach First, introducing the neoliberal impact on financial well-being and capability for vulnerable households, the authors’ postulation is substantiated on a seven-point argument. The contexts of financially vulnerable households are sketched. Second, a conceptualisation of financial literacy is offered, and third, perspectives on and approaches to financial literacy as a fundamental capability are presented. This is followed by a theoretical foundation of community education as a practice model in social work to develop financial capabilities. In the fifth place, prevailing practices of Financial Capabilities Development (FCD) programmes are offered. Subsequently, the implications of a neoliberal environment for social work practice are examined. Findings The revised global definition of social work encourages the profession to understand and address the structural causes of social problems through collective interventions. As a response, it is argued that community education towards FCD of vulnerable households within a neoliberal environment should be an essential discourse in social development. Originality/value The authors reflect on the significance of FCD, highlighting its contribution towards human security and sustainable development. Although this paper draws on Southern African contexts, the discourse finds resonance in other contexts across the world.

Achieving Financial Inclusion for Persons With Disabilities: Exploring Preparedness and Accessibility of Financial Services for Persons With Disabilities in Malawi

2021 ◽  
pp. 104420732110275
Author(s):  
Alex Nester Jiya ◽  
Maxwell Peprah Opoku ◽  
William Nketsia ◽  
Joslin Alexei Dogbe ◽  
Josephine Nkrumah Adusei
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Commercial Banks ◽  
Empirical Studies ◽  
Well Being ◽  
Living Conditions ◽  
Inclusive Development ◽  
Future Research ◽  
Structured Interviews ◽  
Persons With Disabilities

Deplorable living conditions among persons with disabilities and the need to improve their living conditions cannot be overemphasized. This has triggered international discussion on the need for deliberate social policies to bridge the poverty gap between persons with and without disabilities. In Malawi, expansion of financial services has been identified as an essential tool to accelerate economic and inclusive development. However, empirical studies are yet to explore the preparedness of financial institutions to extend their services to persons with disabilities. In this qualitative study, semi-structured interviews were conducted with managers from commercial banks in Malawi to understand their perspectives on extending financial services to persons with disabilities. Interviews were transcribed verbatim and a descriptive thematic analysis was performed. Although participants reiterated the need to provide persons with disabilities with financial services to improve their well-being, few initiatives have been undertaken to improve their participation. Particularly, participants stated that barriers, such as a lack of financial literacy and adaptive technologies, communication barriers, and high rates of unemployment, explained the reluctance of commercial banks to extend financial services to persons with disabilities. The limitations, recommendations for future research, and implications of the study for policymaking have been highlighted.

scholarly journals “My coupons are like gold”: experiences and perceived outcomes of low-income adults participating in the British Columbia Farmers’ Market Nutrition Coupon Program

2021 ◽  
pp. 1-30
Author(s):  
Stéphanie Caron-Roy ◽  
Sayeeda Amber Sayed ◽  
Katrina Milaney ◽  
Bonnie Lashewicz ◽  
Sharlette Dunn ◽  
...  
Keyword(s):  
British Columbia ◽  
Rural Communities ◽  
Low Income ◽  
Well Being ◽  
Qualitative Description ◽  
Farmers Markets ◽  
Social Connections ◽  
Structured Interviews ◽  
Program Outcomes ◽  
Farmers Market

ABSTRACT Objective: The British Columbia Farmers’ Market Nutrition Coupon Program (FMNCP) provides low-income households with coupons valued at $21/week for 16 weeks to purchase healthy foods in farmers’ markets. Our objective was to explore FMNCP participants’ experiences of accessing nutritious foods, and perceived program outcomes. Design: This study used qualitative description methodology. Semi-structured interviews were conducted with FMNCP participants during the 2019 farmers’ market season. Directed content analysis was used to analyse the data whereby the five domains of Freedman et al’s framework of nutritious food access provided the basis for an initial coding scheme. Data that did not fit within the framework’s domains were coded inductively. Setting: One urban and two rural communities in British Columbia, Canada. Participants: 28 adults who were participating in the FMNCP. Results: Three themes emerged: Autonomy and Dignity; Social Connections and Community Building; and Environmental and Programmatic Constraints. Firstly, the program promoted a sense of autonomy and dignity through financial support, increased access to high-quality produce, food-related education and skill development, and mitigating stigma and shame. Secondly, shopping in farmers’ markets increased social connections and fostered a sense of community. Finally, participants experienced limited food variety in rural farmers’ markets, lack of transportation, and challenges with redeeming coupons. Conclusions: Participation in the FMNCP facilitated access to nutritious foods and enhanced participants’ diet quality, well-being and health. Strategies such as increasing the amount and duration of subsidies, and expanding programs may help improve participants’ experiences and outcomes of farmers’ market food subsidy programs.

scholarly journals “You run out of hope:” An Exploration of Low-Income Parents’ Experiences with Food Insecurity using Photovoice

2021 ◽  
pp. 1-21
Author(s):  
Payge Lindow ◽  
Irene H. Yen ◽  
Mingyu Xiao ◽  
Cindy W. Leung
Keyword(s):  
Food Insecurity ◽  
San Francisco ◽  
Low Income ◽  
Eating Behaviors ◽  
Comparative Method ◽  
Well Being ◽  
Structured Interviews ◽  
Unhealthy Eating ◽  
Low Income Families ◽  
The Impact

ABSTRACT Objective: Using an adaption of the Photovoice method, this study explored how food insecurity affected parents’ ability to provide food for their family, their strategies for managing household food insecurity, and the impact of food insecurity on their well-being. Design: Parents submitted photos around their families’ experiences with food insecurity. Afterwards, they completed in-depth, semi-structured interviews about their photos. The interviews were transcribed and analyzed for thematic content using the constant comparative method. Setting: San Francisco Bay Area, California, USA. Subjects: 17 parents (14 mothers and 3 fathers) were recruited from a broader qualitative study on understanding the experiences of food insecurity in low-income families. Results: Four themes were identified from the parents’ photos and interviews. First, parents described multiple aspects of their food environment that promoted unhealthy eating behaviors. Second, parents shared strategies they employed to acquire food with limited resources. Third, parents expressed feelings of shame, guilt, and distress resulting from their experience of food insecurity. And finally, parents described treating their children to special foods to cultivate a sense of normalcy. Conclusions: Parents highlighted the external contributors and internal struggles of their experiences of food insecurity. Additional research to understand the experiences of the food-insecure families may help to improve nutrition interventions targeting this structurally vulnerable population.

scholarly journals Workplace exercise programmes – how organizational factors influence employee participation

2019 ◽  
Vol 34 (6) ◽  
pp. 37-39
Author(s):  
Anna Little ◽  
Russell Wordsworth ◽  
Sanna Malinen
Keyword(s):  
Online Survey ◽  
Organizational Factors ◽  
Employee Participation ◽  
Past Research ◽  
Well Being ◽  
Practical Significance ◽  
Structured Interviews ◽  
Content Type ◽  
Individual Level ◽  
Leadership Support

Purpose Past research identifies many positive outcomes associated with workplace exercise initiatives. Realizing these outcomes is, however, dependent on securing sustained employee participation in the initiative. This study examines how organizational factors influence employee participation in workplace exercise initiatives. Design/methodology/approach The study utilizes data from 98 employees who were provided with the opportunity to participate in a workplace exercise initiative. Data were collected via an online survey as well as semi-structured interviews. Findings The paper shows that organizational, rather than individual-level, factors had the greatest impact on employee participation in workplace exercise initiatives. Leadership support for well-being was particularly important and had a significant effect on participation frequency. This relationship was moderated by employee perceptions of employer intentions, such that the more genuine and caring an employer’s intentions were perceived to be, the more likely employees were to participate. Our findings also show that perceived employer intentions have a significant direct effect on employee participation. Research implications We extend research on employee participation in well-being initiatives by considering the influence of organizational, rather than individual-level, factors. Practical implications This research is of practical significance as it highlights the importance of positive leadership in fostering physical well-being in the workplace. It reinforces that sustained participation in workplace exercise initiatives requires deliberate planning, promotion and support from organizational leaders. Originality/value Most studies of workplace exercise and well-being initiatives focus on individual barriers to participation. Our study highlights the important role of leadership support and perceived intentions as organizational influences on employee participation.

Living beyond one’s means: evidence from Malaysia

2015 ◽  
Vol 43 (1) ◽  
pp. 2-18 ◽  
Author(s):  
Yiing Jia Loke
Keyword(s):  
Low Income ◽  
Financial Literacy ◽  
Financial Distress ◽  
Financial Management ◽  
Practical Knowledge ◽  
Financial Education ◽  
Financial Knowledge ◽  
Content Type ◽  
Explanatory Variables ◽  
Financial Behaviour

Purpose – The purpose of the paper is to identify the determinants of the probability of living beyond one’s means. The paper also explores the coping mechanisms of those financially distressed as well as the debt taking behaviour of consumers. Design/methodology/approach – The study uses data obtained from the OECD International Network on Financial Education pilot study on Measuring Financial Literacy in 2010 for the case of Malaysia. A logistic regression model is used to identify the main determinants of the probability that a consumer will live beyond his/her means. The analysis is carried out by using a set of socio-economic factors and the individual’s financial behaviour and attitudinal characteristics as explanatory variables. Findings – The findings indicate that low income and seasonal income earners are more vulnerable to financial distress. Furthermore, having a higher education, higher financial knowledge and prudent financial behaviour and attitude do not necessarily translate into better financial management. Family and friends provide the main source of financial assistance in times of need. Research limitations/implications – The assessment of financial knowledge should go beyond individual’s knowledge on financial concepts and theories. Practical knowledge on financial and cash flow management should be assessed. Practical implications – The study reiterates the importance of financial education. It is imperative to include financial education as part of the schools’ curriculum and also to be incorporated as part of the Continuous Professional Development modules for working adults. Originality/value – The study is based on the first nationwide study of consumer finances in Malaysia. It contributes to the literature by integrating financial behaviour and attitudinal factors into the analysis of the ability of individuals to live within their means. The findings also show the limitations of the existing self-assessment of financial behaviour and attitude and the assessment of financial knowledge.

Learning from socially driven service innovation in emerging economies

2015 ◽  
Vol 26 (1) ◽  
pp. 156-176 ◽  
Author(s):  
Javier Reynoso ◽  
Jay Kandampully ◽  
Xiucheng Fan ◽  
Hanna Paulose
Keyword(s):  
Emerging Economies ◽  
Low Income ◽  
Business Models ◽  
Service Innovation ◽  
Well Being ◽  
Social Contexts ◽  
Customer Engagement ◽  
Sustainable Business ◽  
Content Type ◽  
Service Relationships

Purpose – The purpose of this paper is to provide insights into indigenous, solution-based business models and their relevance for inclusive service innovation within specific social contexts in emerging economies, with particular emphasis on the role of culture and technology. Design/methodology/approach – A proposed framework illustrates four factors that nurture socially driven service innovation in emerging economies: solution, inclusion, culture, and technology. Extant literature from studies in India, Latin America, and China illustrates distinct indigenous innovations and service relationships that exist at the base of the pyramid (BoP), which provides a foundation for a better understanding of socially inclusive service innovations. Findings – A conceptual model of inclusive service innovation reflects an integrated, virtuous cycle, composed of service relationships that stem from the BoP at various levels of analysis across different income segments. These findings suggest notable research directions. Practical implications – This study reinforces the importance of a solution orientation as a competitive business model to gain customer engagement. Social implications – Researchers and practitioners in emerging and advanced economies can use the approach suggested by this paper in their efforts to build sustainable business cultures and improve the well-being of society. Originality/value – Previous research has not addressed the social or communal roles of service innovation; this study proposes an innovative switch from a traditional strategy of selling services toward a proactive approach that involves low-income customers as active resources to co-create social and business value.

Building blocks of financial inclusion through customer experience value at financial touchpoints in Southern Africa

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nkosinathi Sithole ◽  
Gillian Sullivan Mort ◽  
Clare D'Souza
Keyword(s):  
Southern Africa ◽  
Low Income ◽  
Financial Services ◽  
Building Blocks ◽  
Customer Experience ◽  
The Body ◽  
Financial Inclusion ◽  
Structured Interviews ◽  
Content Type ◽  
Low Income Consumers

PurposeThis paper aims to examine customer experience value orchestrated by non-banks' financial touchpoints to understand how they enhance the financial inclusion of low-income consumers.Design/methodology/approachTwo independent but related studies were conducted using qualitative comparative analyses (QCA) research design with semi-structured interviews to compare and contrast customer experience value at two rural locations in Southern Africa. The interview transcripts were analysed using ATLAS.ti, which is a powerful operating system for analysing qualitative data.FindingsThe results indicate that non-banks in the two countries design financial services that include functional, economic, humanic, social and mechanic customer experience value dimensions.Research limitations/implicationsThe data for this study was collected from financial services customers of retailers and mobile phone network operators in only one research setting in each country. Further research could extend the comparative context for qualitative studies across similar markets. Other limitations are discussed in the paper.Originality/valueThis paper contributes to the body of knowledge by highlighting the salient and germane dimensions and components found to be important in understanding financial inclusion using customer experience value. To the best of the authors’ knowledge, this is the first study that incorporates customer experience value dimensions in understanding the financial inclusion of low-income consumers at the base of the social and economic pyramid in emerging markets.

Exploring the antecedents of retail banks’ reputation in low-bankarization markets: brand equity, value co-creation and brand experience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Luís Daniel Martillo Jeremías ◽  
Ana Isabel Polo Peña
Keyword(s):  
Financial Institutions ◽  
Brand Equity ◽  
Low Income ◽  
Financial Literacy ◽  
Structural Equation ◽  
Banking Sector ◽  
Retail Banking ◽  
Equation Modeling ◽  
Brand Experience ◽  
Content Type

PurposeThe present study aims to propose and validate a model to measure certain variables that may contribute to increasing the bankarization rate (uptake of retail banking services) among developing-economy populations characterized by poor financial literacy and low income levels.Design/methodology/approachA quantitative empirical study is carried out in the retail banking sector of a country with low-bankarization rates. Using a self-administered questionnaire distributed online, structural equation modeling is applied to analyze the relationships between value co-creation, brand experience, brand equity and reputation.FindingsThe results show that brand equity is an antecedent of reputation that values co-creation, and brand experience positively influences brand equity and that values co-creation that positively influences brand experience.Social implicationsThe bankarization rate of a developing country is generally taken as an indicator of the socioeconomic wellbeing of its population. Where there is a low-bankarization rate, this renders it more difficult for financial institutions to build their reputation to attract new customers and retain existing ones. Strategies are, therefore, proposed to improve the reputation of financial institutions in such settings and, thus, contribute to increasing the bankarization rate.Originality/valueThe findings of this study provide an original perspective that offers a deeper understanding of the mechanisms that enable banks operating in low-bankarization markets to enhance their reputation through strategies based on customer–company interaction and branding (with the variables of brand equity, brand experience and value co-creation).

Financial well-being of customer-to-customer co-creation experience: a comparative qualitative focus group study of savings/credit groups

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nkosinathi Sithole ◽  
Gillian Sullivan Mort ◽  
Clare D'Souza
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Well Being ◽  
Social Experiences ◽  
Sub Saharan Africa ◽  
Focus Group Study ◽  
Financial Capability ◽  
Content Type ◽  
Self Confidence ◽  
Sub Saharan

PurposeThis paper aims to explore the effects of the customer-to-customer co-creation experiences of savings/credit groups in the African context and how savings/credit groups influence financial capability and enhance financial well-being.Design/methodology/approachUsing purposive sampling, a study of a total of 18 focus groups was conducted in sub-Saharan Africa. Nine urban-based savings/credit groups were drawn from across South Africa and additional nine, rural-based savings/credit groups were studied in the Monduli district of Tanzania.FindingsFindings demonstrate that the African philosophy of Ubuntu, which promotes customer-to-customer interaction, is the cornerstone of the customer-to-customer co-creation experience. Ubuntu philosophical principles were found to influence the dialogue, access, risk and transparency model of co-creation and customer-dominant logic. The results show further that customer-to-customer co-creation experience positively influences the cognitive, financial, personal and social experiences of members. Specifically, it was found that cognitive and financial experiences positively influence financial satisfaction, financial self-esteem, financial self-efficacy and financial capability, all of which enhance financial well-being. In addition, personal and social experiences positively influence equality, self-confidence, entrepreneurial skills and motivation that in turn enhance social well-being.Research limitations/implicationsThis study has implications for many different stakeholders concerned with the financial inclusion of low-income consumers, particularly in the southern part of Africa.Originality/valueTo the authors’ knowledge, this is the first study to explore the effects of customer-to-customer co-creation experiences in traditional financial services settings in order to understand how these indigenous financial services influence the financial capability and financial well-being of co-creation members.

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