scholarly journals Financial capability and functional financial literacy in young adults with developmental language disorder

2018 ◽  
Vol 3 ◽  
pp. 239694151879450 ◽  
Author(s):  
Maxine Winstanley ◽  
Kevin Durkin ◽  
Roger T Webb ◽  
Gina Conti-Ramsden
Keyword(s):  
Young Adults ◽  
Financial Literacy ◽  
Financial Management ◽  
Language Disorder ◽  
Essential Feature ◽  
Policy Implications ◽  
Developmental Language Disorder ◽  
Financial Capability ◽  
Financial Products ◽  
Familial Support

Background Financial capability is an essential feature of the organisation of one’s personal life and engagement with society. Very little is known of how adequately individuals with developmental language disorder handle financial matters. It is known that language difficulties place them at a disadvantage in many aspects of their development and during their transition into adulthood, leading to the possibility that financial issues may prove burdensome for them. This study examines the financial capability and functional financial literacy of young adults with developmental language disorder and compares them to those of age matched peers. We tested the expectation that those with developmental language disorder would find financial management more challenging than would their peers, and that they would need to seek greater support from family members or other people. Methods Participants completed a detailed individual interview, which included items drawn from the British Household Panel Survey and additional measures of financial capability, functional financial literacy and of perceived support. Nonverbal IQ, language, reading and numeracy measures were also collected. Results Compared to typically developing age matched peers, young people with developmental language disorder report less extensive engagement with financial products and lower competence in functional financial literacy. A considerably higher proportion of those with developmental language disorder (48% vs. 16% of age matched peers) report that they draw on support, primarily from parents, in various financial tasks, including paying bills, choosing financial products, and taking loans from family or friends. Conclusions This is the first study to consider the financial capability skills and functional financial literacy of young adults with developmental language disorder. We provide novel evidence that some young adults with developmental language disorder lack functional financial skills and require support to successfully manage their finances. This has policy implications that relate not only to engaging affected individuals in discussions about financial management but also to wider familial support.

Struggling to make ends meet: can consumer financial behaviors improve?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lisa K. Meneau ◽  
Janakiraman Moorthy
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Group Analysis ◽  
Self Control ◽  
Thinking Styles ◽  
Financial Health ◽  
Content Type ◽  
Financial Behaviors ◽  
Financial Products ◽  
The Impact

PurposeThe purpose of the study is to examine the following two research objectives. The first was to examine the predictive relationships that consumer characteristics of financial literacy, thinking styles and self-control have with a consumer's financial behaviors. The second goal was to ascertain financial management products' ability to aid those consumers who need it the most by weakening the predictive effects of consumer traits on financial behaviors.Design/methodology/approachThe study employed a web-based survey to gather information. The measurement and structural models were analyzed using generalized structured component analysis (GSCA), a component-based structural equation model. The mediation effect of self-control is assessed using the GSCA. The conditional mediation of demographic variables and use of personal financial management products are evaluated using multi-group analysis (MGA) in GSCA.FindingsAntecedents, financial literacy, thinking styles and self-control consumer characteristics are predictors of financial behaviors. However, self-control plays a more prominent role as a mediator between the other variables, strengthening the overall relationship. Also, financial products can have a beneficial moderation effect assisting those consumers who need them the most.Practical implicationsThese insights help in creating target specific financial literacy strategies to influence consumers' financial behaviors. Also, there is a need to develop mechanisms to influence a consumer's self-control and thinking styles to improve financial behavior. In conjunction with other initiatives, the impact of financial literacy has a greater effect on financial behaviors. Further, the insights assist financial institutions and financial technology firms in offering and creating products to help customers make better financial decisions and improve their financial behaviors.Social implicationsThe research addressed a significant global issue – consumer financial health. The Great Recession and the COVID-19 recession highlight the need to focus on the consumer and efforts to improve their financial health.Originality/valueThis research highlighted the mediating role of self-control and suggested that existing and future financial products can positively influence consumer behavior drivers.

scholarly journals PENGARUH TINGKAT LITERASI KEUANGAN PEMILIK USAHA TERHADAP PENGELOLAAN KEUANGAN. STUDI KASUS: UMKM DEPOK

2016 ◽  
Vol 3 (1) ◽  
Author(s):  
Birawani D. Anggraeni
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Financial Statements ◽  
Business Owners ◽  
Descriptive Statistics ◽  
Record Keeping ◽  
Financial Products ◽  
Study Materials ◽  
Financial Condition ◽  
Micro Level

Abstract. Financial literacy affects a person's way of thinking on the financial condition and influencestrategic decisions in terms of finances and better management for business owners. This study usessecondary data as study materials which will be given to the micro level that businesses with aturnover of up to 300M per year in which the segment in general do not have good financial recordsto then be used as financial statements. In a study using 12 samples of SMEs in the area of Depokrandomly selected. This study uses processed using descriptive statistics as well as the weighting atthe level of financial literacy.Results from this study indicate that the level of financial literacy of low business owners sothat the effect on the ability to manage finances. This is reflected in the financial results of theattitude of business owners where they merely record the receipt and expenditure of financialbusiness without being accompanied by supporting documents storage. Business owners so far havenot made the budget as a basis for evaluating the performance of their businesses. In addition theability of business owners to manage cash surplus and deficit shows the majority of using banks ornon-banks. They have not yet reached the stage of investing in financial products. Simple research isexpected to contribute to the field of accounting related to business continuity, especially in terms offinancial management business through increased financial literacy.Keywords:. financial literacy, financial management, record keeping, budget

Conceptualizing financial capability: evidence from Indonesia

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Arief Wibisono Lubis
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Qualitative Method ◽  
Microfinance Institutions ◽  
Group Discussions ◽  
Financial Capability ◽  
Content Type ◽  
Developed Economies ◽  
South Sulawesi ◽  
Limited Generalizability

Purpose This paper aims to investigate how microfinance institutions’ clients in Indonesia conceptualize financial capability. Previous investigations on the concept were mostly in the lenses of those in the developed economies. Design/methodology/approach A qualitative method was used, in which focus group discussions (FGDs) and interviews were conducted with microfinance institutions’ clients and management in four provinces in Indonesia: DKI Jakarta, DI Yogyakarta, West Nusa Tenggara and South Sulawesi. Findings The results exhibit some similarities with those of previous studies that highlight the importance of financial management and financial planning for strategic purposes. However, financial literacies perceived as less important due to the lack of awareness of the concept and its benefits. Research limitations/implications This research is only focused on certain groups of the population which implies its limited generalizability. One important implication is for policymakers and scholars to re-examine the value of financial literacy within the context of Indonesia. Although the interviews reveal skepticisms on the instrumental value of financial literacy, robust investigations are further needed. Originality/value This study is the first that uses the participatory method to define financial capability as understood by microfinance institutions’ clients in Indonesia.

scholarly journals THE EFFECT OF FINANCIAL LITERATION ON FINANCIAL PERFORMANCE IN COOPERATIVES OF STATE EMPLOYEES IN BANDAR LAMPUNG

2019 ◽  
Vol 2 (01) ◽  
pp. 69
Author(s):  
Liya Ermawati
Keyword(s):  
Financial Performance ◽  
Path Analysis ◽  
Financial Literacy ◽  
Financial Management ◽  
Total Sample ◽  
Management Behavior ◽  
Financial Problems ◽  
Financial Products ◽  
State Employees ◽  
Cooperative Units

Allegedly, the reason for the number of cooperatives not actively running cooperative units is because there are still many financial problems. Individual needs and increasingly complex financial products require cooperative managers to have adequate financial literacy. Individuals need basic financial knowledge and the ability to effectively manage financial resources for better welfare and development of cooperatives.A person's ability to use money depends very much on the knowledge they have, the better the financial literacy that someone has, the better the financial management behavior of that person. This kind of thing, then, will have an impact on one's financial performance. Therefore, studies regarding this matter are very important to do. In this study, the total sample was 50. all the data obtained were analyzed using path analysis. Path analysis is used to analyze the pattern of relationships between variables in order to determine the direct and indirect effects of a set of independent variables on the dependent variable Based on the results of data processing, it can be seen that the value of the direct effect of the variable behavior of financial management on financial performance is equal to 0.681. Whereas, the indirect effect of variables x1, x2 and x3 on financial performance through financial management behavior is 0.0051 (0.367 x 0.480 x 0.029). by comparing the two values, it can be proved that the influence of knowledge variables (X1), understanding (X2), and application (X3) on financial performance is directly smaller than their influence on financial performance (Z) through financial management behavior (Y), so it can be concluded that the behavior of financial management is an intervening factor for financial literacy with financial performance Someone who has good financial literacy, coupled with proper financial management behavior, can be said as prosperous in terms of finances. By having good skills in managing finances, a cooperative manager will be free from financial problems so that the cooperative's financial performance will be achieved optimally.

scholarly journals Young Adults With Developmental Language Disorder: A Systematic Review of Education, Employment, and Independent Living Outcomes

2020 ◽  
Vol 63 (11) ◽  
pp. 3786-3800
Author(s):  
Pascale Dubois ◽  
Marie-Catherine St-Pierre ◽  
Chantal Desmarais ◽  
Frédéric Guay
Keyword(s):  
Systematic Review ◽  
Young Adults ◽  
Literature Review ◽  
Systematic Literature Review ◽  
Policy Development ◽  
Independent Living ◽  
Language Disorder ◽  
Developmental Language Disorder ◽  
Language Abilities ◽  
Comprehensive Overview

Purpose Research on developmental language disorder (DLD) in adulthood has increased rapidly in recent years. However, to date, there has been no systematic literature review on this topic, thereby limiting the possibility to have a comprehensive overview of publications in this field. Method Following Preferred Reporting Items for Systematic Review and Meta-Analyses (PRISMA) guidelines, we conducted a systematic literature review. A literature search was undertaken in four databases, from 2005 to 2018. We selected articles with original data related to life outcomes of young adults with and without DLD, all aged between 18 and 34 years, in three life areas: education, employment, and independent living. Methodological characteristics of the studies were analyzed. Results Fifteen articles were selected with longitudinal designs. In every life area, young adults with DLD were compared to their typically developing peers to identify their strengths and weaknesses. The predictive role of language abilities was also examined. Conclusions Outcomes within each life area are heterogeneous. Nevertheless, similarly to young children and adolescents, young adults with DLD face numerous challenges. Although language abilities partly predict some of these outcomes, much of the variance remains unaccounted for and some outcomes are unrelated to this predictor. This systematic literature review has implications for researchers and practitioners to identify promising avenues for research, interventions, and policy development. Supplemental Material https://doi.org/10.23641/asha.13022552

scholarly journals Subjective financial situation and financial capability of young adults in Finland

2017 ◽  
Vol 42 (6) ◽  
pp. 525-534 ◽  
Author(s):  
Mette Ranta ◽  
Katariina Salmela-Aro
Keyword(s):  
Young Adults ◽  
Theoretical Model ◽  
Financial Management ◽  
Longitudinal Research ◽  
Well Being ◽  
Equation Modeling ◽  
Developmental Task ◽  
Financial Capability ◽  
Mediation Effects ◽  
Financial Situation

A key developmental task in young adulthood is acquiring financial capability (Serido, Shim, & Tang, 2013), meaning competent financial management skills and the responsibilities that these involve. This study extends previous research on the theoretical model of the development of financial capability, including financial confidence (or financial self-efficacy) and financial behavior as factors contributing to subjective and financial well-being. It is part of the Finnish Educational Transitions Studies (FinEdu) longitudinal research project. Participants were 418 young adults aged 24–25 at Time 1 and 26–27 at Time 2. Path and mediation models and Structural Equation Modeling following a modified theoretical model of financial capability were estimated. The results support the theoretical model of financial capability among young adults in Finland. The study complements previous research by investigating the associations between subjective financial situation and financial capability and their respective mediation effects over time.

scholarly journals Silver Finance—Asset Management of Elderly People in the Modern Era

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 441-442
Author(s):  
Frances Yang ◽  
Ka Hin ◽  
Edward Cheung ◽  
Vivian Lou
Keyword(s):  
Elderly People ◽  
Asset Management ◽  
Financial Literacy ◽  
Financial Services ◽  
Technology Use ◽  
Financial Management ◽  
Financial Education ◽  
The Elderly ◽  
Mature Adult ◽  
Financial Products

Abstract This study aims to explore the elderly people’s knowledge, attitude, and understandings toward financial management, and how they behave in using IT-supported financial services. Mixed methodologies, including quantitative street survey and qualitative focus group interviews, are used. The result shows an active involvement with investment market of the mature segments despite claiming safe and stable returns as the paramount principle of asset management. They also have a substantial knowledge on some of the technological-enabled financial services, particularly the younger groups (age 50-59). Cybersecurity is their major concern and barrier on whether to use them or not. Besides, their value and behaviors of buying mature adult financial products should be understood within a context of traditional family culture value. Based on the above analysis, the elderly can be categorized into three major types in using IT-supported financial products and services, including proactive users, passive followers and hard opposition. On the one hand, this research breaks up the outdated stereotype of technology use among elderly people; on the other hand, aged people are facing the challenges of cognitive and physical decline led by ageing. As such, it is essential to conduct specific financial literacy intervention. This project brings new insights into the financial education which is appropriate to the elderly.

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