Household Financial Management Research Articles

Household Financial Management Behavior During Pandemic Covid 19

The COVID-19 pandemic has had a tremendous impact on the economic sector in Indonesia, including changes in the composition of household finances. This study aims to assess the impact of the COVID-19 pandemic on household financial management. This study takes the target population of households living in Madiun and its surroundings. The sampling technique used was cluster random sampling. The number of samples is 384 respondents who are proportionally distributed into 5 (five), namely Madiun City, Madiun Regency, Ponorogo Regency, Magetan Regency, and Ngawi Regency, so that the sample taken can generalize the household population in Madiun and its surroundings. Methods of data collection include direct interviews using structured questionnaires. The research approach uses a quantitative approach using one-way ANOVA analysis techniques.The conclusion obtained from the results of the study is that the COVID-19 pandemic has a significant effect on household financial management behavior in Madiun and its surroundings. The average behavior related to household financial management shows that before the COVID-19 pandemic it was 83.27, while during the COVID-19 pandemic it was 73.34. These results show that household economic activities are carried out more often before the pandemic than during the pandemic.

Indigenising Informal Financial Mechanism (IFM) of Rural Women in the Northern Region of Kwazulu-Natal, South Africa

There is little documentation of umholiswano from local people’s perspective, as local knowledge has evolved with time. A phenomenology research design outlined the attributes and their meaningful value as perceived by local communities. 65 participants participated in a series of focus group discussions and complemented six key informant interviews. Umholiswano (stokvel) is an indigenous concept that has been part of the life of many indigenous communities before the money era. It was used as a mechanism to achieve social justice, establish peace and create socio-economic balance toward improved well-being. In this study, umholiswano is a household financial planning and management tool, saving/investment system, a social-cohesion-nurturing and therapeutic mechanism founded on six core value principles (6CVPs), such as ubuntu, trust, solidarity, dignity preservation of social wealth and ukudlala (fun). Most key players are women, and umholiswano is regarded as the 21st livestock for women. The majority are in the economically active age group but lack the skills to enter the formal economy. They rely on social grants and entrepreneurship activities. Umholiswano is undervalued as an economic strategy, nevertheless, its significant contribution to the quality of life of rural women is observable. But, there is an existing gap for a quantifiable tool to assess the umholiswano’s contribution, as the measurability should start by identifying indicators designed “with people and for the people” and the above six core value principles identified in the study could be set as a guiding framework towards indicators development.

Household financial management in rural village of Thailand during pandemic crisis based on sufficiency economy philosophy

Household accounting is an important aspect of financial sustainability. Every family must be accountable for their finances and ensure proper bookkeeping tendencies for several reasons. The objectives of this research were: 1) to study household accounting according to sufficiency economy philosophy in rural village, northeastern region of Thailand. 2) to study the correlation between personal factors and household finances based on the sufficiency economy philosophy. The sample group was 173 people from the village. The research instrument was a questionnaire, data analysis tools were descriptive statistics and inferential statistics (T-test and one-way ANOVA). Results of this study showed household financial management could help survive through an economic crisis (during the COVID-19 pandemic) with the highest level followed by fundamentals of sustainability and rural villager's knowledge in accounting aspect was at the middle level at statistically significant 0.5, the population with different factors in age, occupation, education, and a family member had an impact on household accounting and the population with different factors in gender and marital status had no impact on household accounting based sufficiency economic philosophy. In conclusion, rural villagers are poorly informed about financial management, which explains the poor financial sustainability in those areas.

Application of Household Accounting in Improving Islamic Life (Survey of Housewives on Jl Puro)

Economic problems are the most phenomenal problems in the many breakdowns of a household. For this reason, this study aims to review the role of accounting in the household and find out how to apply Islamic household financial management. This type of research is qualitative research. This study only uses informants, namely housewives who come from families with Muslim backgrounds and have applied simple accounting in managing their household finances, such as doing financial records every month. The analysis used in this study is a qualitative method with a terminological approach so that all answers from informants to questions given by researchers will be analyzed and studied in detail. This study shows that homemakers have implemented most of the components in Islamic household financial management, namely saving for the pilgrimage, alms, and zakat to get a reward from Allah SWT.

Peningkatan Kualitas Usaha Manisan Desa Bati Bati Kabupaten Tanah Laut

Along with the development of tourism in Tanah Laut Regency, some Bati Bati residents have opened a business selling candied fruit. The average income of candied fruit traders ranges from Rp. 500,000 to 1,000,000 per month. Most of these small and medium enterprises are their main income and some are side activities other than as laundry workers and housewives. Candied fruit trading business that is engaged in by Mandiri UKM mothers. established in early 2016 and growing until now. However, the business conditions of this women's group require attention and touch from other parties in order for significant business development to occur. Meanwhile, based on observations so far, candied fruit is still underdeveloped, including 1) the types / types are less varied, 2) packaging / presentation is relatively simple 3) Quality still needs to be improved because candied fruit still uses saccharin so it tastes bitter and 4) marketing has not so wide. These problems need to be solved, namely (a) Training on making candied fruit with various flavors (original, spicy) that is healthy and durable (b) Training on packaging that attracts consumers and makes product brands that are made so that they have an identity at the same time. as a means of promotion (c) Training on standardization of healthy candied fruit and product idea exploration (d) Assistance in market expansion and training in household financial management and business bookkeeping (cash flow).

Unravelling the Relationship Between Food Security, Financial Management and Household Food Waste: The Case of Lebanon During the COVID-19 Pandemic

ObjectivesTo explore associations between household food security (HFS), household financial management (HFM) skills, and food literacy (FL) with household food waste (HFW) generation during the COVID-19 crisis.MethodsData were collected through online surveys and face-to-face interviews with a random sample of households in Lebanon (n = 323, January-May2021). HFI and HFM were assessed using the previously validated food insecurity experience scale and a 14-item food literacy behavior checklist, respectively. HFW and FL measures were constructed based on validated tools. Multiple tobit regression was conducted to examine the relationship of HFS, HFM and FL with HFW adjusting for other socioeconomic variables.ResultsOverall, 50.5% (n = 163) of the study population reported experiencing moderate to severe FI during the pandemic. Approximately one-third of participants had low FL score (29.7%) and HFM (34.1%). University education and being employed were both associated with increased HFW (β = 1.730 and β = 1.246; P < 0.10). Multiple linear regression model showed that participants with high HFM skills score had significantly higher HFW compared to those with lower HFM scores, even after adjusting for significant correlates including education, employment, and crowding (β = 3.758, P < 0.01). However, participants with highest FL score had lower HFW scores (i.e., less food to be discarded) compared to their counterparts (β = −1.652, P < 0.05). Specifically, tobit regression revealed that participants with highest FL score had lower expected waste behavior scores compared to those with lowest FL scores (mean = 13.8[90%CI:13.0, 14.7] vs. mean = 15.5[90%CI:14.6, 16.4]). Severe HFI was also shown to be associated with increased HFW (β = 2.799, P < 0.01).ConclusionsImproved FL may lead to better cooking and eating practices that are less wasteful (e.g., plan meals, cook on budget, estimate portion sizes, etc.). Findings highlight the need to develop interventions addressing FL and better HFM practices to help improve HFS and reduce HFW.Funding SourcesThe present study was funded by the University Research Board at the American University of Beirut.

Are Two Heads Really Better than one in Intra-Household Financial Management? Evidence on the Financial Behaviour of Couples in Poland

Abstract Research shows that involvement in intra-household financial management fosters the development of financial literacy and sound financial behaviour. However, little is known about how different intra-couple financial management styles (sole versus joint management) affect the way consumers act when confronted with typical financial matters. Using a simple classifier allowing to distinguish households in which both partners undertake financial activity from those in which only one partner is involved in managing household finances, we applied statistical tests of significant differences and multiple linear regression models to determine whether the financial behaviour of joint participants is distinct from that of sole participants in Poland. Mann-Whitney U test showed that significant differences exist in credit management behaviour, with individuals who share participation performing better behaviour in this domain compared to sole managers. Credit management also appears to be the most problematic domain of household financial management where undesirable behaviour is the most likely. However, closer inspection with linear regression revealed that these differences can be attributed to socio-demographic variables such as age, place of residence, income, and number of dependent children.

ANALISIS MANAJEMEN KEUANGAN RUMAH TANGGA DAN KEUANGAN NEGARA DAMPAK PANDEMI COVID-19 MENURUT PERSPEKTIF EKONOMI SYARIAH

The research’s title is An Analysis of Household Financial Management and State Finances During the Covid-19 Pandemic According to the Sharia Economic Perspective. The background of this research is the condition of the outbreak of the COVID-19 pandemic in all countries in 2020. The move to close the economic sector has an impact on household finances and state finances.&#x0D; The purpose of this study is to analyze household financial management and state finances during the COVID-19 pandemic from a sharia economic perspective. The method used in this study is a descriptive qualitative method approach using content analysis techniques.&#x0D; From a study conducted on various literatures, the following points are shown. First, should follow the example of the Prophet in managing family financial spending by using the principles of a simple lifestyle. When managing shopping, prioritize needs, not wants. Second, the expenditure should be regulated based on the amount of income. When an epidemic occurs which results in reduced income, some spending must be cut. Third, keep spending your wealth on infaq, shodaqoh etc when you are free or when you are short of sustenance. Fourth, set the largest allocation for mass basic needs. As for the regulation of state finances according to the sharia economy in an epidemic condition, all income owned by the state is allocated to meet the basic needs of the people. Especially the basic needs of each household and the fulfillment of health needs. In the Islamic economic system, there is a solution to rearrange regulations on macro and micro economic aspects to become sharia-based.

The Household Financial Management during the Covid Pandemic – a Comparative Analysis

Purpose: to understand and personal financial management before and during the Covid Pandemic and its impact. Further, to make certain suggestions to better personal and household financial management. Methodology: This study was survey based, 192 respondents were picked from Government, private, business, self-employees and others. Paired t-test was applied to know whether the mean difference between financial behavior of individuals before and during the pandemic along with required descriptive statistics. Findings: Study found that there is a significant difference in financial behavior of individuals before and during the pandemic. It is found that around 30% of income has come down during the pandemic, according their spending been also affected. They opined that their priorities have changed due to this pandemic and they need advises from experts to get out this. Further, study has offered some suggestions to better their financial management to face such kind crises.

Pelatihan Pengelolaan Keuangan Rumah Tangga Mikro Pada Ibu-Ibu PKK Dengan Metode “COPLO”

The training program for micro-household financial management for peer-to-peer women using the “COPLO” method aims to provide explanations to PKK mothers about the urgency of planning and managing micro household finances, providing explanations to PKK mothers about the allocation of posts micro household finances that must be spent every month, starting from various sources of income to expenditure items, and providing training on the COPLO (Commitment to Envelope) method to make it easier for PKK mothers in managing micro household financial conditions every month . The results show that this program is very relevant to the conditions of partner needs in the field and can be implemented according to the planned event rundown. Based on the results of the evaluation of 30 participants who have participated in this activity, it can be concluded that there were 20 pre-activity people (66.67%) PKK RT. 05/06 women did not carry out directional financial management, and did not make an allocation of expenditure items each month. 90% of participants did not know about the COPLO (Commitment to Envelope) method related to household financial management. After the activity, the training participants began to understand the importance and benefits of allocating monthly expenditure items using the COPLO method, and participants began to try to apply the COPLO method for household financial management.

How Did COVID-19 Change Opinions and Behaviors in the Netherlands?

The early stages of the COVID-19 pandemic may have led to a number of behavioral adaptations among Dutch citizens, possibly due to restrictions because of lockdowns, changed orientations toward work, and changes in consumer sentiment. These factors theoretically predict a number of changes in behavior that may have affected people in diverse circumstances in different ways. Among the variables that we study are financial behaviors, health, happiness and emotions. We explore how these variables were affected among households with different sociodemographic conditions, including urbanization, income, gender and age. We use representative panel data from 2019 and 2020 including relevant information from about 2,800 Dutch citizens to study a number of changes primarily during the initial lockdown period in 2020 as compared with the normal situation in 2019. We use regression analysis to estimate the Difference-in-Difference effects of the lockdown in 2020 as compared with the state of affairs in 2019. We find several lockdown effects on transitory thoughts and feelings, i.e., price perceptions, household financial management, emotions, and social relations, of which some effects strongly differ between urban and rural areas. We did not find evidence for more long-lasting effects, for example, on savings, perceived health, and (un)healthy behaviors, although these might have occurred later during the pandemic.

SOSIALISASI PROTOKOL KESEHATAN DAN VAKSINASI SERTA PELATIHAN MANAJEMEN KEUANGAN BAGI RUMAH TANGGA

Since its appearance in 2019, the Covid-19 virus has quickly spread to various countries in the world. Indonesia is one of the countries with a fairly high number of positive COVID-19 cases. The high number of positive COVID-19 cases has prompted the Indonesian government to implement various policies to prevent the spread and transmission of Covid-19, starting with the imposition of Large-Scale Social Restrictions, the 5M Health Protocol Policy to the Covid-19 Vaccination Program. The purpose of this Real Work Lecture activity is to help prevent the spread and transmission of Covid-19 in the Griya Alam Sentosa Housing Block P19 RT 01 neighborhood through online socialization. Based on the results of the pre-test and post-test, there was an increase in the understanding and behavior of community prevention before and after the socialization. Other problems that have arisen due to the Covid-19 pandemic are the weakening of the economy, some people have difficulty in financial management because people have not planned well. The household financial management socialization and training program with the Money Lover application is carried out with the aim of helping the community in carrying out good financial management so that expenses are not greater than their income so as to avoid being dependent on debt with someone or a money lending institution.

Financial Status and Well-being in Recently Separated Military Veterans.

Veterans transitioning from military service to civilian life manage numerous changes simultaneously, in health, employment, social relationships, and finances. Financial problems may impact financial well-being as well as adjustment to civilian life in general; yet, research on Veterans' financial challenges remains limited. This study examined six indicators of perceived financial status among newly transitioned Veterans over a period of 3 years and then examined perceived financial well-being measured in two domains-satisfaction and functioning-and difficulty adjusting to civilian life as functions of financial status. A sample representing 48,965 Veterans who separated from active duty/activated status in fall 2016 provided informed consent and survey data over their first 33 post-military months; data were analyzed in weighted regression models that included demographics, military characteristics, social support, resilience, life stress, and indicators of financial status. Financial status immediately post-separation included having stable housing (88%), being able to pay for necessities (83%), keeping up with creditors (88%), having insurance for catastrophic events such as disability (79%), saving for retirement (62%), and setting aside 3 months of salary (50%). Thirteen percent of Veterans disclosed troubled financial status, having achieved no more than two of these financial goals; 38% had moderate and 49% excellent financial status. Troubled or moderate financial status, Black race, enlisted, and higher levels of stress predicted lower financial functioning. Older age, college degree at baseline, employment, and social support predicted better financial satisfaction. Veterans with troubled financial status reported greater difficulty adjusting to civilian life (odds ratio 1.34); women were less likely to report difficulty adjusting to civilian life (odds ratio 0.85). Findings indicate that financial satisfaction and functioning may be sensitive to psychosocial factors (social support and stress). Findings also underscore the value of assessing Veterans' financial status (poor debt management and lack of future planning), providing encouragement and assistance to pursue a college degree, and improving household financial management, thus increasing the likelihood that Veterans will have the necessary tools to manage their finances after separation and achieve whole health well-being.

The Audit of Household Financial Management and Information Technology on Lifestyle in the New Normal Era

The Audit of Household Financial Management and Information Technology on Lifestyle in the New Normal Era

ISLAMIC HOUSEHOLD FINANCIAL MANAGEMENT IN THE KELURAHAN TANJUNG DUREN AREA, WEST JAKARTA

Islamic family financial management must be based on the principle of belief that the determinant and provider of sustenance is Allah with an intentional effort to meet the needs of the family so that they can worship sincerely so that they have the commitment and priority of halal income that brings blessings and avoids illicit income that brings disaster.The purpose of this activity is to be able understand household financial management from an Islamic point of view, Implement management of spending and consumption patterns from an Islamic point of view The implementation method used is 1). Extension method; used for deliver material in the form of theory. 2). Question and answer method; used to provide opportunities for participants who are not yet clear in their understanding; 3). Demonstration Method; Implementation Islamic spending and consumption patterns4).Exercise/Practice Methods; An example of Islamic household financial management. The result of this activity is the participants' understanding of the three basic principles of managing Muslim household finances, namely: 1) Strive to earn a living that is lawful and thayyib., 2) Efficient and economical and 3) Get used to saving for the hereafter

Divergent Gender Revolutions: Cohort Changes in Household Financial Management across Income Gradients

The ways in which partners manage their money provide important clues to gender inequality in and the nature of couple relationships. Analyzing data from nationally representative surveys ( N = 11,730 couples), I examine changes across British cohorts born between the 1920s and 1990s in their household financial management, and how the changes vary across individuals and couples occupying differential income positions. The results show divergent, nuanced cohort trends toward gender equality in couples’ money management. Across successive cohorts of low-earning women, there has been a subtle relaxation in the form of male control, reflected in a decrease in the proportion of men adopting “back-seat” management by retaining the majority of the couple’s money while delegating the chore of managing daily expenses to their partners. By contrast, the empowerment of high-earning women is reflected primarily in an individualization of financial management, evident in a cohort decrease in joint financial management and an increase in independent management. The trend of individualization is particularly prominent among couples in which both partners have equally high earnings. The findings provide new insights into and important extensions of the theorization of gender relations in and the individualization of couple relationships.

Penyuluhan Pengelolaan Keuangan Rumah Tangga Di Masa Pandemi Covid-19 Di Kampung Buaran Cakung Jakarta Timur

The Covid-19 pandemic that occurred in Indonesia created instability and a crisis in the economic sector, especially the household sector. As the main support for the economy, household consumption slowed down significantly, which greatly affected the performance of industry and UMKM businesses. Household financial management is one of the solutions so that the use of economic resources, especially finance, can be planned, implemented, monitored, evaluated and controlled to ensure the stability and economic growth of the family. The lack of knowledge of housewives, difficulty in determining priorities for daily needs, and the lack of ability to use savings money are factors that cause economic difficulties in the household. An introduction to knowledge about household financial management is needed through extension activities. The method of this activity is through a direct communication model with discussion and question and answer sessions. The aim is to provide understanding, knowledge and skills of the At-taqwa At-taqwa Buaran Cakung Village Group of mothers in managing household finances. The result of this counseling is that the participants have the knowledge and ability to manage household finances and can apply financial management properly to maintain household economic stability.

Mental Accounting in Household Financial Management (Study in Civil Servants of Senior High School Teachers in Sirimau District Ambon)

Objectives-Financial management is the process of systematically carrying out financial resources to meet the needs of life. In financial management, a person often thinks partially, thus causing illogical use of money because of the mental accounting aspects of the individual. This research aimed to analyze mental accounting in household financial management of civil servants of senior high school teachers in Sirimau District Ambon. Methods - This research was a descriptive study. The sample in this research was civil servant of high school teachers in Sirimau District Ambon. The research was carried out by distributing questionnaires directly to the high school teacher in Sirimau district Ambon. The analysis technique used in this research is descriptive statistics using frequency distribution. Results - The research results indicate that there is a mental acoounting in household financial management. This can be seen from the behavior that tends to classify and enforce differently depending on where the money comes from. In this research, mental accounting is used as a self control in the sense that it does not have a biased effect but a good one.

Manajemen Keuangan Rumah Tangga Menuju Mandiri Pangan

This research aims to examine the household financial management of people who work as Vannamei Shrimp Farmers in building food independent in Mootinelo, North Gorontalo District. Using a qualitative research method with a descriptive study approach and the techniques of collecting data used are interviews, observations, and documentation. This research shows that the household financial management in Mootinelo, North Gorontalo district is divided into two. First, there are households that experience financial difficulties after being hit by bad weather that makes vanname shrimp stunted, then by the covid-19 pandemic. Second, there are households that are able to manage finances well even the conditions are not well. This second household is said to be at the food independent level

Sosialisasi Perencanaan Keuangan Rumah Tangga Dan Menu Makanan Dalam Menghadapi Pandemik Covid-19

COVID-19 pandemic situation that hit the world has disrupted various human activities. The group most vulnerable to the impact of this pandemic is households. Every household is required to be ready to face all risks by managing finances well and fulfilling good nutrition for the family so that the body's immune system can be fulfilled according to government recommendations as an effort to fight Covid-19. To increase knowledge about household financial management and regulate family meal menus, the Socialization of Household Financial Planning in Facing the Covid-19 Pandemic was carried out. The activity was carried out in a group of housewives who live in Hawaii Sentani Koramil Flats Complex, Jayapura district. The activity consists of three activities, namely information on household financial planning, making food menus every week and planting vegetable crops in polybag media. The achievement targets for the participants could be achieved well because of the interest in participating, working on and returning the exercise sheets as well as the addition of simple knowledge on the three activities that have been carried out, namely household financial planning, making food menus and growing vegetables in polybags.