Financial Empowerment Research Articles

Married and cohabiting women's financial empowerment: A study on women's bank account ownership in Spain

AbstractObjectiveThe goal was to examine the conditions under which young adult women (aged 25–50) in heterosexual couples maintain their economic independence through a personal bank account.BackgroundResearch has shown that in Spain, the pooling of economic resources is seen as an important aspect of being a couple and as a symbol of togetherness. However, in practice, joint management can be characterized by inequalities on several levels, such as access to money, control over money, and personal spending. Few studies have focused on household financial organization in Spain, and studies of women's financial autonomy are lacking.MethodWe conducted a cross‐sectional analysis of couples aged 25–50 in Spain (N = 1,281) using data from the 2020 National Survey on Family Life.ResultsThe findings reveal that women are significantly less likely to have a personal bank account if either partner does not endorse values of economic autonomy, the couple is married with children, or, if the male partner earns significantly more.ConclusionThe results suggest that there is still a long way to go for Spain to reach the levels of women's account ownership seen in countries such as those in Northern Europe. It is important to incorporate women's account ownership into the investigation of financial organization, given its substantial implications for women within couples and those navigating relationship dissolution.ImplicationsGovernment programs should promote women's account ownership. Also, policies targeting financial literacy can incorporate dimensions such as basic budgeting, saving, and debt management so that women can gain further financial skills.

Trauma-informed Financial Empowerment Programming Associated with Improved Financial Well-being

AbstractFinancial well-being and overall health are significantly linked, especially among those in poverty who have been exposed to violence and suffer from unaddressed trauma. Yet existing public assistance programs fail to address the presence or impact of trauma and adversity. Built specifically for families living in poverty who experience adversity, the Building Wealth and Health Network (the Network) provides a space for families to heal from the effects of trauma while also building social networks and economic security. The sample for this study was primarily Black (91%) women (92%) in Philadelphia with at least one child. A repeated measures linear regression model was performed via a Difference-in-Differences approach to test differences in financial well-being scores between two groups (full participation vs. low/no participation) at two time points (baseline vs 3 months, and baseline vs 6 months). We use this program as a field study to better understand the financial well-being of program participants who took part in fewer or more program sessions. Those who participated in more sessions reported greater increases in two measures of financial well-being at three months and six months post baseline, when compared to those with low or no participation.

Towards sustainable development: financial inclusion and women’s economic empowerment in India

Purpose This study aims to examine the relationship between financial inclusion and economic empowerment of women, recognising that empowering women is not just an issue of equity and fairness but also an essential prerequisite for achieving sustainable development. Design/methodology/approach This research used a survey method to gather data from the female population in northern India. The quantitative analysis was conducted using structural equation modelling with Smart PLS 4 software, based on the theoretical framework of economic empowerment theory. Findings The results demonstrated a notable association between financial inclusion and women’s economic empowerment. The presence of active participation in financial services appears to contribute significantly to variations in women’s earnings, savings and accumulation of assets. Originality/value This study contributes to guiding development agencies and policymakers by highlighting the importance of expanding financial services tailored to women and advocating inclusive banking.

Pengaruh Religiusitas, Literasi, dan Akuntabilitas terhadap Minat Berwakaf Tunai di Bank Syariah Indonesia dengan Tingkat Pemahaman sebagai Variabel Moderasi

Cash waqf is a form of Islamic financial empowerment that has great potential in improving social welfare. However, public interest in cash waqf is still relatively low compared to traditional waqf. This study aims to analyze the influence of religiosity, literacy, and accountability on interest in cash waqf in Bank Syariah Indonesia, with the level of understanding as a moderation variable. The method used was quantitative with a data collection technique through a questionnaire distributed to 35 customers of Bank Syariah Indonesia in Teritip Village, East Balikpapan. The data was analyzed using the Partial Least Squares (PLS) analysis technique. The results of the study show that religiosity, literacy, and accountability have a positive and significant effect on interest in cash waqf. In addition, the level of understanding moderates the relationship between religiosity, literacy, and accountability and interest in cash waqf. The conclusion of this study shows that increasing public understanding of cash waqf can increase their potential participation in the program.

The Cryptocurrencies in Emerging Markets: Enhancing Financial Inclusion and Economic Empowerment

The Cryptocurrencies in Emerging Markets: Enhancing Financial Inclusion and Economic Empowerment

Intellectual Capital Strategy in Increasing the Financial Performance and Empowerment of BUM Desa in Indonesia

Intellectual capital is an intangible asset consisting of knowledge and networks, which are believed to increase economic added value in the business. In the context of the enactment of Undang-Undang No. 6 tahun 2014 concerning villages, BUM Desa has an important role as an economic institution at the village level which is expected to become one of the main pillars of economic development. This study aims to identify and measure the extent to which intellectual capital is present in BUM Desa, and also to analyze the impact of the relationship between this intellectual capital and the financial performance of BUM Desa. The study was carried out by BUM Desa in Tambang District, Riau Province, as a case example. Intellectual capital measurement was carried out through a Likert scale analysis, while financial performance was measured through the ability of BUM Desa to generate profits and control costs. A descriptive approach was used to describe the relationship between intellectual capital and financial performance. The results of the study show that the intellectual capital of BUM Desa is formed from three main dimensions – structural capital, relational capital, and human capital. BUM Desa is able to generate profits from assets that are more efficient than equity funding and can reduce costs to maximize profits. Keywords: human capital, intellectual capital, financial performance

Optimizing Career Woman's Financial Management Through Monthly Budget and Fintech

General Background: The financial management landscape for career women has evolved significantly in the digital era, particularly with the rise of financial technology (fintech). Specific Background: The integration of fintech facilitates budgeting and expense tracking, allowing career women to manage their finances more effectively. However, while fintech offers convenience, it may also contribute to impulsive spending behavior due to easy access to funds. Knowledge Gap: Existing literature lacks a comprehensive understanding of how career women utilize fintech for financial management and the implications of this technology on their budgeting practices. Aims: This study aims to explore the financial management strategies employed by career women in the digital era, focusing on budgeting, the application of accounting in household finances, and the impacts of fintech on their financial behaviors. Results: Career women effectively manage their finances through monthly budgets, reducing stress and achieving financial goals, but the convenience of fintech can increase wasteful expenditure. Novelty: This research contributes new insights into the intersection of career women's financial management, accounting practices, and fintech, addressing a critical gap in the literature. Implications: The study emphasizes the need for financial education for career women, emphasizing balanced practices to maximize fintech benefits and reduce impulsive spending, promoting financial stability and empowerment. Highlights: Budgeting aids career women in spending control and goal achievement. Fintech simplifies transactions, improving financial management efficiency. Ease of use may lead to impulsive spending behavior. Keywords: financial management, career women, fintech, budgeting, digital era

Collaborative Strategies For Promoting Economic Empowerment

This article explores the role of strategic partnerships in ensuring economic empowerment, particularly within underserved communities and small businesses in the U.S. It explains the importance of collaboration among financial institutions, community organizations, and government agencies as a means to promote financial inclusion and stimulate economic development. Through the analysis of successful case studies, such as the Community Reinvestment Act (CRA) and Financial Empowerment Centers (FECs), the article identifies core components essential for building effective partnerships, including shared goals, trust, clear roles, and strong monitoring frameworks. It offers a comprehensive roadmap for developing and implementing collaborative programs that emphasize the importance of needs assessment, securing resources, and measuring impact. The article studies the indispensable nature of these partnerships in overcoming systemic barriers and driving sustainable economic empowerment. Finally, it calls for ongoing research and innovation in partnership models to adapt to evolving challenges and opportunities in the financial inclusion platform.

РОЛЬ ГОСУДАРСТВЕННЫХ И ЧАСТНЫХ СТРУКТУР В ФОРМИРОВАНИИ ОРГАНИЗАЦИОННОЙ МОДЕЛИ СИСТЕМЫ УПРАВЛЕНИЯ В ТУРИСТСКОЙ ИНДУСТРИИ

The scientific article highlights the key aspects of tourism development management, including strategies, financial support, regulation and the results of a comprehensive study of the role of public and private structures in the formation of an organizational model of the management system of the tourism industry of the Republic of Kazakhstan are presented. In the course of the work, an overview of existing development strategies was conducted, the roles of public and private structures in the formation of infrastructure were highlighted, and the effectiveness and prospects of cooperation between these sectors were analyzed. The presented analysis includes an assessment of the degree of engagement, the effectiveness of resource use, as well as identifying the advantages and disadvantages of existing partnerships. The article also examines the key benefits of cooperation, such as combined experience and knowledge, financial empowerment and joint marketing promotion. At the same time, disadvantages such as bureaucratic obstacles and risks to data privacy are highlighted. Recommendations for improving cooperation between public and private structures are proposed, and prospects for the development of the tourism infrastructure of the Republic of Kazakhstan are highlighted. The possibilities of intensifying the dialogue, creating a unified development strategy and promoting innovation and digitalization in tourism are discussed. The work provides an extensive overview of the current state of the tourist infrastructure and is aimed at forming practical recommendations for its sustainable development. Keywords: tourism industry, tourism infrastructure, development strategies, public structures, private structures, environmental sustainability, financial support, strategic cooperation.

Nexus between women’s financial empowerment, and digital financial literacy: The case of green microfinance in Tunisia

This study examines the relationship between financial literacy (FL) Green Microfinance (GM) and Women’s Empowerment (WE). Alongside its economic and social implications, microfinance has adapted to address expanding demands by integrating environmental factors, resulting in the emergence of GM and WE. The connection between the empowerment of women and green microfinance is partly influenced by their level of FL. The findings highlight the significance of prioritizing financial strategies in Tunisia to promote policies that support women's empowerment, to fight poverty and environmental sustainability.

Do Micro Finance Banks Influence The Performance Of Small Scale Business Entrepreneurs In Ijebu North Lga, Ogun State, Nigeria?

This paper contributes to the debate on the impact of Microfinance financial and non-financial services on the development of small-scale entrepreneurs. This study actually investigated the influence of Access to Microfinance Credit and Microfinance services on the development of small-scale entrepreneurs in Ijebu North Local Government Area of Ogun State, Nigeria. Survey research design using simple random sampling technique was employed to select 90 out of 175 registered small-scale entrepreneurs in Ijebu North LGA. Applying regression analysis on the primary data collected showed that a positive and significant relationship exists between Access to Microfinance credit and performance of small-scale entrepreneurs in the sampled areas. In addition, Microfinance service was also found to exert a significant influence on small-scale entrepreneurs’ performance, albeit, the correlation coefficient and the coefficient of determination were below average. This notwithstanding, the study concludes that Microfinance provision of credit; financial services, business support, and empowerment have positively influenced business performance, income generation, asset accumulation, and overall well-being of small-scale entrepreneurs in the sample area. It is recommended that microfinance institutions should continue to focus on expanding access to credit and other financial and advisory services to small-scale entrepreneurs to continuously improve their overall performance.

Empowerment of Financial Literacy in the Era of Digitalization 5.0 MSME Trade at the Bandung City Chamber of Commerce

Technological developments have brought us to an era where digital financial literacy has become very important, especially for people accustomed to the digital world. In today's digital era, skills in managing finances are no longer enough just to count money conventionally. The micro, small, and medium enterprises sector plays a vital role in the national economy, especially in creating jobs and increasing people's income. Based on this, the Community Service implementation team held training and outreach activities with the theme Empowering Financial Literacy in the Era of Digitalization 5.0 Micro, Small and Medium Enterprise Trade at the Bandung City Chamber of Commerce and Industry. Community Service Activities in the form of presenting material regarding Financial Literacy Empowerment in the Digitalization Era 5.0 will be held on July 31 2024. 15 Bandung City KADIN Micro, Small and Medium Enterprise partners who attended this activity have businesses in the culinary, fashion, service and trade sectors. The activities went well based on the evaluation results, and the training materials were based on work needs. A follow-up to this activity is the need for a sustainability program with the help of lecturers from the Faculty of Economics and Business, Widyatama University and KADIN Bandung City to help partners in the field of Financial Technology so that partners and the community can maximize training and development of financial literacy, especially for MSMEs in the Era-based trade sector. Digital 5.0 is vital because the micro, small, and medium enterprises sector is essential in advancing the country's economy.

Bridging governmentality and economization: temporality as a financialization device

ABSTRACT Reflecting and reinforcing the financialization of everyday life, non-profit social service organizations, the primary deliverers of benefits and services in the US, are increasingly incorporating financial education and empowerment into their service repertoires. In this article, I examine and compare how financial educators in two organizations that target different populations/problems – women in (economic) transition and chronically/intergenerationally poor people – give financial advice to their clients. I draw a parallel between what Foucault calls the ‘repressive hypothesis’ and claims by personal finance experts and educators that we are silent about money. I suggest that these claims amount to a ‘money repressive hypothesis’ that gives experts what I call an ‘advisor’s benefit’: the appearance of being freed from silence about money and thus able to liberate others from silence and steer them toward financial wellness. I show that financial educators perform this benefit through temporal frames – meaningful ways of intersubjectively organizing experience in reference to time, that invite different levels and forms of attention to the past, present, and future – of their clients’ problems. Bridging literatures on governmentality and economization, I contend that these temporal frames are disciplinary financialization devices that act in connection with sociocultural constructions of populations/problems to assemble financial subjectivities.

Challenges Facing Rural Women in Accessing Economic Empowerment Opportunities in Tanzania

This paper examines the challenges faced by women in accessing economic empowerment opportunities in Kahama Municipal, Shinyanga Region of Tanzania. Specifically, the study identifies the challenges facing rural women in accessing economic empowerment opportunities. The study used purposive sampling and randomly selected one hundred and twenty (120) respondents. Data collection was done through focus group discussions and in-depth interviews. Data was analyzed using content analysis. Findings indicate that financial empowerment services for rural women are severely limited by inadequate infrastructure, lack of knowledge, and financial constraints, hindering their economic progress. The fragmented nature of empowerment organizations also lead to unequal distribution of opportunities for rural women. The absence of specific legislation addressing women's economic empowerment further exacerbates the challenges faced by rural women. This study concludes that the lack of financial empowerment among women in rural areas poses a significant challenge, resulting in poverty, insufficient income, and impeding progress for both women and the nation. The absence of a law addressing empowerment issues has hindered efforts to achieve gender equality in supporting women in rural areas. This study suggests that the government, particularly the Ministry of Community Development, Gender, Women, and People with Special Needs, and the National Economic Empowerment Council (NEEC), should collaborate with women's forums, Civil Society Organizations, women's organizations and private sectors supporting women to develop the Tanzania Inclusive Women Economic Empowerment Model (TIWEEM). This model aims to promote economic empowerment and gender equality for women in urban and rural areas under a unified government framework. Additionally, the establishment of an Economic Empowerment Law (EEL) specifically for women is recommended to provide clear operational guidance on women's economic empowerment in the country

The Relationship between Financial Inclusion and Women’s Financial Worries: Evidence from Saudi Arabia

Financial inclusion is essential in achieving sustainable development goals in emerging countries. Goal number five of the sustainable development agenda, “Gender equality”, depends on women’s financial empowerment. It enhances women’s ability to make decisions, access resources and income, and control benefits from economic gains and power. The paper investigates the relationship between financial inclusion and women’s financial worries, using the 2021 Global Financial Inclusion Survey recently published by the World Bank for the Kingdom of Saudi Arabia. This paper examines the effects of several aspects of inclusive finance, access, usage, and quality on women’s financial worries. The research implements an ordered probit analysis and contributes to the literature on women’s financial empowerment and inclusion by demonstrating that having access to financial services empowers women to make decisions about their lives, which greatly improves their welfare and sense of security. These findings provide policymakers with different targeted policies and strategic management practices to substantially improve financial inclusion and alleviate financial concerns within the population, especially among women.

Analysis of Husband's Maintenance Under Sec 144 BNSS, 2023

The law relating to wife maintenance is different in different religions. Among all communities, the question of maintenance to women has acquired great importance. Women, the partners of men in life, play a vital role in raising a family, especially in maintaining social order. The basic involvement of women gives them the right to maintenance from their husbands. But apart from the Hindu Marriage Act, of 1955 and the Parsi Marriage and Divorce Act, of 1936, no other law gives any right to a husband to claim such maintenance from his wife even on reasonable grounds. Article 15(1) of the Constitution of India states, "The State shall not discriminate any citizen on ground only religion, race, caste, sex, place of birth or any of them”. While Article 14 states that “The State shall not deny to any person equality before law or the equal protection of law within the territory of India”. Apart from Hindu and Parsi husbands, a person of any other religion has no such right to claim maintenance on reasonable grounds which violates the constitutional right under Article 15(1) and Article 14. Under section 144 of The Bharatiya Nagarika Suraksha Sanhita, 2023, the husband should be entitled to equal maintenance rights from his wife on legitimate grounds, as women have gained financial empowerment in the current socioeconomic situations.

Gender equality and development in Uganda

The purpose of this article is to review the concept of gender equality in all aspects. Despite all the platforms that have been signed by nations, Uganda in particular, that can give men and women equal opportunities in education, employment, political leadership at all levels, financial empowerment, and equal access to assets, getting training skills for all have not been a reality and this has retarded development in Nations. There are still gaps and challenges that need to be investigated. The study used qualitative methods. The findings showed that women have not been given enough opportunities in building the nation in core development aspects and that has not elevated them to the same level with men ie getting equal opportunities, remuneration and human rights was that the government of Uganda should put training of women on computer, business, entrepreneurship, saving and involvement in most activities for more exposure.

Harnessing AI for personalized financial coaching: A pathway to financial inclusion and empowerment for women in the United States

Harnessing AI for personalized financial coaching: A pathway to financial inclusion and empowerment for women in the United States

Unraveling the Potential of Decentralized Finance: A Comprehensive Analysis of Opportunities, Risks, and Future Trends

The financial sector is going through a major transformation and evolution with the emergence of Decentralized Finance (DeFi). It is a modern concept that is reshaping the traditional financial landscape and thus changing traditional financial structures. This research delves into the term “Decentralized Finance” by exploring its various advantages, associated challenges, and future patterns and trends. Leveraging blockchain technology, DeFi offers new financial services without intermediaries that in turn enhance financial inclusion, autonomy, and economic empowerment of individuals, though this also entails enormous risks and challenges, including vulnerability to smart contract vulnerabilities, regulatory uncertainty, and market volatility. This research also attempts, through a systematic literature review, to identify the most significant opportunities for DeFi, such as democratized access to financial services, lower transaction fees, and increased liquidity. Additionally, this research highlights the key challenges facing the development of DeFi, such as limitations on its ability to handle large transactions, concerns about user data protection, and the need to adhere to regulatory standards. The paper concludes with a view and insights into the future of DeFi, emphasizing the importance of regulatory clarity, technological innovation, and community governance in shaping the trajectory of DeFi. This analysis contributes to gaining a deeper understanding of the potential and capabilities of DeFi, and provides stakeholders with indispensable insights to navigate the dynamics of DeFi.

The Role of Gender in Household Financial Decision-Making: A Survey-Based Analysis in Urban India

This research paper explores the role of gender in household financial decision-making within urban India, focusing on the disparities between male and female respondents in financial literacy, investment behaviors, risk preferences, and decision-making authority. A survey-based methodology was employed, targeting 500 households across five major urban centers in North India. The study found that males generally exhibited higher financial literacy, were more likely to engage in riskier investments such as mutual funds and stocks, and predominantly controlled major financial decisions. In contrast, females preferred safer investments like gold and fixed deposits and were primarily responsible for daily expenses and savings. Education and employment emerged as critical factors influencing financial behaviors, with higher educational attainment and active economic participation correlating with better financial literacy and decision-making capabilities. These findings underscore the need for targeted financial education programs, policies promoting higher education and employment for women, and improved access to professional financial advice. By addressing these disparities, stakeholders can enhance women's financial empowerment and promote gender equality in financial decision-making, contributing to the broader economic development and stability of urban India.