Empowering marginalized communities through legal and financial literacy: The development and impact of the LEFL-Framework.

Abstract

This study evaluates the impact of the Legal and Financial Literacy Framework (LEFL-Framework) on empowering marginalized communities, focusing on integrating legal and financial literacy as a means of socio-economic empowerment. Employing a systematic literature review and content analysis, the research scrutinizes peer-reviewed journals, official reports, and policy documents published from 2005 onwards. The methodology hinges on a comprehensive search strategy, with inclusion and exclusion criteria meticulously designed to filter relevant literature, followed by a thematic categorization and content analysis to distill key insights. Key discoveries reveal that legal and financial literacy are pivotal in enhancing the socio-economic conditions of marginalized communities, offering them the necessary tools to navigate complex legal and financial environments. The study identifies challenges such as digital divides and cultural barriers but also highlights opportunities through digital learning platforms and cross-sector partnerships. Strategic directions suggest leveraging technology, fostering community-based education, and advocating for policy support to integrate legal and financial literacy into broader educational frameworks. Recommendations are provided for practitioners, policymakers, and community leaders to develop culturally sensitive materials, support policy reforms, and mobilize local resources for sustainable literacy initiatives. The study concludes with a call for ongoing research into innovative educational methodologies, the long-term impacts of literacy programs, and the role of digital technologies in enhancing accessibility and effectiveness. This research underscores the transformative potential of legal and financial literacy in empowering marginalized communities and contributing to their socio-economic advancement.