Economic Self-efficacy Research Articles

Cross-Language Validation of the Scale of Economic Self-Efficacy for Spanish-Speaking Survivors of Intimate Partner Violence

Cross-Language Validation of the Scale of Economic Self-Efficacy for Spanish-Speaking Survivors of Intimate Partner Violence

Developing and evaluating the impact of a small group communication programme in improving the entrepreneurial competence and economic self-efficacy of smallholder farmers with art skills.

The researchers in Study 1 conducted interviews among experts and developed a small group communication programme to be delivered in 24 months. In Study 2, a quasi-experiment was conducted involving 540 smallholder farmers in Nigeria to test the impact of the developed programme. The result showed that smallholder farmers with art skills who received the small group communication programme reported a significant improvement in their entrepreneurial competence and economic self-efficacy compared to smallholder farmers who did not receive the programme. A follow-up assessment after two years revealed the steady effectiveness of the developed programme.

A Pilot Randomized Controlled Trial of Intervention for Social Work Clients with Children Facing Complex Financial Problems in Finland (FinSoc): A Study Protocol

ABSTRACT Purpose Social work clients often face complex financial problems. We have developed a financial social work intervention, FinSoc, to increase financial literacy and economic self-efficacy and reduce financial anxiety among parents with financial problems in Finland. The aim of this pilot randomized controlled trial is to explore the feasibility, acceptability, and preliminary effectiveness of the intervention. This paper, a study protocol, describes the design and implementation of the trial. Study protocols are articles detailing a priori the research plan, rationale, proposed methods and plans for how a clinical trial will be conducted. Method This study is a pilot randomized controlled trial with a mixed methods approach applying both quantitative measures and qualitative interviews. Participating social work clients with children are randomly assigned to either the treatment or the waiting list control group at a ratio of 1:1. The treatment group receives the intervention and the control group receives services as usual. The quantitative data from social work clients are collected at three measurement points. Qualitative interviews are conducted post-intervention with both clients receiving, and professionals implementing the intervention. The feasibility is assessed through recruitment and retention rates and the interviews with social work professionals providing the intervention. Acceptability is assessed through feedback from participants on satisfaction with the intervention and usefulness of the specific intervention components. Potential effectiveness is measured by financial literacy, economic self-efficacy and financial anxiety. Discussion The intervention is hypothesized to increase financial literacy and economic self-efficacy and reduce financial anxiety among social work clients with children. The results of this pilot study will increase the evidence base of financial social work and offer new insights for developing interventions for clients experiencing financial difficulties.

Impact of visual multimedia in improving entrepreneurial competence and economic self-efficacy among widowed women farmers

PurposeThis study aims to assess the impact of visual multimedia in improving entrepreneurial competence and economic self-efficacy among widowed women farmers.Design/methodology/approachThe participants received entrepreneurial training through visual multimedia package. The sample size was made up of 540 widowed women farmers. The entrepreneurship competence and economic self-efficacy scales were used as the instruments for data collection. The purpose of the entrepreneurial competence scale was to measure the mental competence of the participants to engage in entrepreneurial ventures. On the other hand, the economic self-efficacy scale measured the ability of the women to solve their financial problems, thus, meeting their financial needs. Both scales were administered face-to-face to the participants before, and after the training and during follow-up assessment after three years.FindingsThe result of the study showed that the women farmers reported low entrepreneurship competence and economic self-efficacy before the training. After the training, the women farmers who received the multimedia training reported an improvement, but those who did not receive the training did not show an improvement. A follow-up assessment after three years revealed stability in the improvement among women farmers who received the training. It was also indicated that interactive visual multimedia was found to be more effective than noninteractive visual multimedia.Originality/valueThis study has provided empirical evidence on how best to empower widowed women farmers by improving their entrepreneurial competence and economic self-efficacy. This information could be useful for policy formulation and advocacy in relation to women’s empowerment.

Exploring factors associated with pregnant women\u2019s experiences of material hardship during COVID-19: a cross-sectional Qualtrics survey in the United States

BackgroundThe COVID-19 pandemic has exacerbated the financial insecurity of women and their families globally. Some studies have explored the impact of financial strain among pregnant women, in particular, during the pandemic. However, less is known about the factors associated with pregnant women’s experiences of material hardship.MethodsThis cross-sectional study used a non-probability sample to examine the factors associated with pregnant women’s experiences of material hardship during the COVID-19 pandemic. In January 2021, 183 pregnant women living in the United States participated in an online Qualtrics panel survey. In addition to socio-demographic characteristics, individuals were asked about their finances and predictors of financial well-being, mental health symptoms, and intimate partner violence (IPV) experiences. Chi-square analysis and one-way ANOVA were used to examine whether women’s experiences with material hardship and associated factors differed by income level (i.e., less than $20,000; $20,000 to $60,000; more than $60,000). Ordinary least squares regression was used to calculate unadjusted and adjusted estimates.ResultsStudy findings showed that the majority of women in the sample experienced at least one form of material hardship in the past year. Individuals with an annual household income less than $20,000 reported the highest average number of material hardships experienced (M = 3.7, SD = 2.8). Compared to women with household incomes less than $20,000, women with incomes of more than $60,000 reported significantly fewer material hardships, less financial strain, and higher levels of financial support, economic self-efficacy, and economic-self-sufficiency. Women with incomes of $60,000 or more also reported significantly lower levels of psychological abuse, and a smaller percentage met the cut-off for anxiety. Economic self-sufficiency, financial strain, posttraumatic stress disorder, and economic abuse were all significantly associated with material hardship.ConclusionsA contribution of this study is that it highlights the significant, positive association between economic abuse, a unique form of IPV, and material hardship among pregnant women during the pandemic. These findings suggest the need for policy and practice interventions that help to ameliorate the financial insecurity experienced by some pregnant women, as well as respond to associated bidirectional vulnerabilities (e.g., mental health symptoms, experiences of IPV).

Consequences of job insecurity for hospitality workers amid COVID-19 pandemic: does social support help?

ABSTRACT Using a time-lagged field survey, the current study examined the psycho-economic effects of job insecurity among hospitality workers during the recent pandemic of COVID-19. The study also examined social support as a buffering agent against the harmful effects of job insecurity. Data were collected from employees (N = 272) working in numerous hotels, restaurants, and travel agencies across Pakistan. Hierarchical moderated regression analysis was used to test the study’s hypotheses. The results suggested that job insecurity was negatively related to self-esteem and positively related to economic deprivation. In addition, social support significantly moderated the effects of job insecurity on mental health, self-esteem, economic self-efficacy and life satisfaction such that the negative effects of job insecurity were stronger when social support was low. The results for economic deprivation, however, were contrary to the expectations, whereby job insecurity had a strong positive effect on economic deprivation in case of high social support.

Economic Abuse: A Literature Review of a Salient yet Overlooked Form of Intimate Partner Violence

Economic abuse is another form of intimate partner violence (IPV) used by batterers to maintain power and control over their partners which often goes unreported, unrealized, and under-supported by IPV survivor advocates. Economic abuse is misunderstood as an IPV and is often incorrectly considered a financial crime, financial fraud, or white-collar crime. Economic abuse impacts the victim’s short and long-term physical and mental well-being in efforts to achieve economic wellness for basic living conditions as well as job placement and professional development opportunities. Healthy minds fuel healthy bodies and economic self-efficacy contributes to both mental and physical health. The awareness and impact of economic abuse is grossly understudied, lacking empirical evidence on victims and survivors of economic self-sufficiency during and at the conclusion of an abusive relationship. The current research has primarily collected and reported data on heterosexual women, leaving a gap in the research regarding the impact of economic abuse in LGBTQ+ relationships. This paper serves as a literature review into current economic abuse research by discussing three constructs: economic control, economic exploitation, and employment sabotage as well as possible solutions for educational opportunities and financial self-efficacy. Further research is needed to raise awareness and provide financial literacy to IPV survivors in all gender communities.

Improving Quality of Life Among Latina Intimate Partner Violence Survivors Through Economic Empowerment.

This study examined the relationship between (1) quality of life and forms of intimate partner violence (IPV) (i.e., psychological abuse, physical violence, sexual violence, and types of economic abuse), and (2) quality of life and economic empowerment among Latina IPV survivors. The authors used data from the Moving Ahead financial literacy program evaluation (n = 200). Nested random-effects models were conducted. Findings indicated that psychological abuse and economic control were significantly and negatively associated with quality of life. Economic empowerment (i.e., financial knowledge, economic self-efficacy, and economic self-sufficiency) was significantly and positively related to Latinas' quality of life. Financial strain was inversely associated with Latina's quality of life. These findings highlight the importance of identifying strategies for increasing the overall well-being of Latina IPV survivors. Economic empowerment interventions can be an effective mechanism for improving their quality of life. As such, domestic violence organizations should include economic empowerment as part of the services offered to survivors.

Economic Pressure and Self-Efficacy as Independent Predictors of Academic Grades and Career Indecision for Southern European Middle School Students: A Confirming Study

Usingdata from the same sample of previous Citarella's (2018) study, this paper aim to confirm the independent role playing by economic pressure due to Great Recession and self-efficacy in determining educational outcomes for middle school students in Southern Italy context. Additionally, the role of mastery goal orientation was tested for this study. Three basic moderation model were developed using Amos (21) and Process (13.4) for SPSS software to test (1) the moderated effect of self-efficacy in the relationship between economic pressure and outcomes; (2) the interaction between self-efficacy and mastery goal orientation in predicting outcomes; (3) the moderated effect played by self-efficacy plus mastery goal orientation in the relationship between economic pressure and outcomes. Results showed that self-efficacy does not moderated the predicting effect of economic pressure on grades and career indecision. Mastery goal orientation positively interact with self-efficacy in predicting outcomes but the moderated effect of the two added integrated constructs was not significantly. Hence, the independent role of economic factors and agency was confirmed by this study.

Believing and Achieving: Gendered Pathways Toward Upward Educational Mobility in the United States.

Little research has investigated the impact of adolescent motivational resources, other than educational plans, on adult educational attainment, or whether their effects differ by gender and social class. Data from the St. Paul Youth Development Study (n = 874, 55% female, 30% children of college graduates) are used to estimate a second-order latent motivation factor encompassing adolescent (age 15-16) educational plans, academic self-concept, economic self-efficacy, and mastery. Then, using logistic regression, the effect of this second-order factor on odds of college graduation in adulthood (ages 26-27 to 37-38) is estimated. Heterogenous effects of motivation by gender and parental education are investigated. The results show that the second-order motivation factor had strong positive effects on educational attainment after adjusting for family background variables. The effect of motivation did not differ by gender in the whole sample nor among children of college graduates. However, among children of less-educated parents, women were found to benefit more than men from these psychological assets for achieving upward educational mobility. These findings suggest that adolescent motivation, especially among U.S. women whose parents do not have college degrees, may be a resource for higher educational attainment.

Measurement of Economic Abuse Among Women Not Seeking Social or Support Services and Dwelling in the Community.

Scholars have defined economic abuse (EA) as tactics used by abusive partners to undermine the self-sufficiency and economic self-efficacy of survivors of intimate partner violence (IPV). However, no measures of EA have been tested in non-IPV-service seeking samples. The current study assesses the psychometric properties of the Scale of Economic Abuse (SEA)-12 (Postmus, Plummer, & Stylianou, 2016) in a nonservice seeking sample of adult females attending community college. A quantitative web-based survey was administered to a simple random sample of female community college students (n = 435). Analyses included confirmatory factor analysis (CFA) and exploratory factor analysis (EFA). CFA indicated a poor fit for the three-factor model of the SEA-12 in this sample. The results of the EFA found a single factor model retaining four items (the Scale of Economic Abuse-Short, or SEAS). Women are experiencing EA outside of IPV service-seeking populations, and that tactics of economic control seem to be central to EA in this sample.

Self-esteem and self-efficacy in the status attainment process and the multigenerational transmission of advantage

Despite considerable evidence of the importance of self-esteem and self-efficacy for agentic, goal-oriented behavior, little attention has been directed to these psychological dimensions in the status attainment literature. The present research uses data from the longitudinal, three-generation Youth Development Study (N = 422 three-generation triads) to examine the extent to which adolescent self-esteem and economic self-efficacy affect adult educational and income attainment, and whether these psychological resources are transmitted from one generation to the next, accumulating advantage across generations. We present evidence indicating that both self-esteem and economic self-efficacy are implicated in the attainment process. Adolescent economic self-efficacy had a direct positive effect on adult educational attainment and an indirect effect through educational plans. The influence of self-esteem on adult educational attainment was entirely indirect, through school achievement. We also find evidence that economic self-efficacy was transmitted from parents to children. We conclude that future research should more broadly consider psychological resources in attainment processes from a longitudinal multigenerational perspective.

Economic status, self-efficacy and academic achievement: the case study of undergraduate students

This research is a descriptive study aimed at determining the effect of socio-economic status on university students academic achievement and self-efficacy, and the relationship between academic achievement and self-efficacy. The study was carried out with Phycology Students who study in Near East University in 2016–2017 school years. In this study, quantitative research method was used and research data was collected by questionnaire technique. A simple random sampling method is selected and 298 students were interviewed. SPSS 22.0 data analysis package program was used for statistical analysis of research data. Frequency analysis was used to determine the socio-economic characteristics of the students and descriptive statistics of academic achievement and general self-efficacy scale scores were given. Also, the LSD test was applied to the data analysis in order to determine percentage, arithmetic average, standard deviation, Chi squared test, t test, one-way analysis of variance and source of differences. As a result of this research, there is a statistically significant correlation between the students’ scores on the self-efficacy scale and their academic achievement. This correlation is positive, and shows that as students’ self-efficacy increases, their academic achievement also increases. Also it is seen that the academic achievement of female students is higher than that the male students.

Economic Abuse Within Intimate Partner Violence: A Review of the Literature

This article reviews the literature on the measurement of, impact of, and interventions for economic abuse within intimate partner relationships. Current assessment measures for economic abuse, along with estimates of the prevalence of economic abuse, are reviewed and critiqued. Research exploring the impact of economic abuse on the victim’s mental health and psychological well-being, family formations and parenting practices, and children’s behaviors and youth outcomes are presented. Recently developed interventions, including financial literacy program models, are discussed and emphasized as a critical service to increase victims’ economic self-efficacy, financial literacy, and financial behaviors. Finally, the review provides detailed recommendations on incorporating economic abuse as a central component of domestic violence research, practice, and policies.

Economic Abuse Within Intimate Partner Violence: A Review of the Literature.

This article reviews the literature on the measurement of, impact of, and interventions for economic abuse within intimate partner relationships. Current assessment measures for economic abuse, along with estimates of the prevalence of economic abuse, are reviewed and critiqued. Research exploring the impact of economic abuse on the victim's mental health and psychological well-being, family formations and parenting practices, and children's behaviors and youth outcomes are presented. Recently developed interventions, including financial literacy program models, are discussed and emphasized as a critical service to increase victims' economic self-efficacy, financial literacy, and financial behaviors. Finally, the review provides detailed recommendations on incorporating economic abuse as a central component of domestic violence research, practice, and policies.

Developing and Validating the Scale of Economic Self-Efficacy.

Experiencing intimate partner violence (IPV) and financial hardship are often intertwined. The dynamics of an abusive relationship may include economic abuse tactics that compromise a survivor's ability to work, pursue education, have access to financial resources, and establish financial skills, knowledge, and security. An increasingly common goal among programs serving IPV survivors is increasing financial empowerment through financial literacy. However, providing financial education alone may not be enough to improve financial behaviors. Psychological factors also play a role when individuals make financial choices. Economic self-efficacy focuses on the individual's perceived ability to perform economic or financial tasks, and may be considered a primary influence on one's ability to improve financial decisions and behaviors. The current study tests the reliability and validity of a Scale of Economic Self-Efficacy with a sample of female survivors of IPV. This study uses a calibration and validation analysis model including full and split-sample exploratory and confirmatory factor analyses, assesses for internal consistency, and examines correlation coefficients between economic self-efficacy, economic self-sufficiency, financial strain, and difficulty living with income. Findings indicate that the 10-item, unidimensional Scale of Economic Self-Efficacy demonstrates strong reliability and validity among this sample of IPV survivors. An ability to understand economic self-efficacy could facilitate individualized service approaches and allow practitioners to better support IPV survivors on their journey toward financial empowerment. Given the increase in programs focused on assets, financial empowerment, and economic well-being, the Scale of Economic Self-Efficacy has potential as a very timely and relevant tool in the design, implementation, and evaluation of such programs, and specifically for programs created for IPV survivors.

Economic Self-Sufficiency Among Divorced Women: Impact of Depression, Abuse, and Efficacy

Understanding how to promote economic self-sufficiency, or the ability to sustain oneself financially, has important implications for programs that help support divorced and separated women and for government agencies hoping to reduce reliance on government aid. The following analysis focuses specifically on divorced and separated women utilizing services from agencies geared toward helping people with financial, career, and other forms of assistance. This study identifies factors that promote or hinder economic self-sufficiency among divorced women. Regression analysis indicates that age, economic self-efficacy, abuse, and difficulty living on income are important indicators of economic self-sufficiency.

Financial Literacy: Building Economic Empowerment with Survivors of Violence

The purpose of this paper is to outline key constructs including financial literacy, economic self-efficacy, economic self-sufficiency, and economic empowerment, and then present findings from an exploratory study that sought to understand the relationship among these variables in a sample of abused women. The results revealed positive and significant relationships between financial literacy with economic empowerment, economic self-efficacy and economic-self sufficiency. Results also indicated that financial literacy, race, and economic self-sufficiency were significant predictors of economic empowerment. By focusing this research on abused women, it is our intention to raise awareness about the importance of financial literacy curricula with advocates, policy-makers and researchers, so more focus can be given to economically empowering IPV survivors.

Family Socialization, Economic Self-Efficacy, and the Attainment of Financial Independence in Early Adulthood

The attainment of financial independence is a key marker of the contemporary transition to adulthood. In this study we ask, how do young adults gain the capacity to support themselves? We contend that communication about work in the family during adolescence is an important precursor of economic self-efficacy during adolescence, which is positively associated with financial independence in early adulthood. Drawing upon rich longitudinal data that span adolescence and young adulthood, we first ask whether family communication and socialization practices surrounding work and finances influence the development of ways of thinking about oneself that imply self-reliance and confidence in the economic domain (economic self-efficacy). Second, we assess whether economic self-efficacy, measured during adolescence, has a long-term influence on the transition to adulthood, status attainment, and financial independence. Our findings indicate that direct communications about work with parents foster the development of economic self-efficacy. This positive dimension of the self-concept fosters achievement during the transition to adulthood (e.g., educational achievement, employment status, and income attainment), which, in turn, heighten financial independence in early adulthood.

Arkansas IDA Programs: Examining Asset Retention and Perceptions of Well-Being

ABSTRACTAs the antipoverty initiative known as Individual Development Accounts (IDAs) enters into its second decade of implementation, research needs to examine social policy and program outcomes for both IDA participants and their communities. This pilot study examined the asset retention rate of 85 graduates from three Arkansas IDA programs; the relationship between household assets and economic strain, self-efficacy, and future orientation; and whether the duration of asset ownership had an effect on well-being. Findings indicate that the majority of IDA program graduates were likely to maintain that asset at follow-up (range = 6–36 months). Differences were found based on the asset purchased, with homeowners more likely and small business owners less likely to report higher rates of well-being at follow-up. Implications of these findings include the need to provide support for practitioners to obtain funding for IDA programs and to include information and resources for those starting their own business to help safeguard against potential stressors.