Pathway to Financial Success: Autonomy Through Financial Education in India

ABSTRACT

This study evaluates attitudinal outcome of financial education workshops on the financial autonomy of the participants (homemakers) in the state of Gujarat, India. A series of financial education workshops were conducted with 300 female homemakers. A pretest and follow-up (after 3 months) survey design was used to assess changes. The survey identified 3 types of autonomy outcomes (reflexive, emotional, and functional) using 15 variables. Data were analyzed using a paired t test, and significant results were obtained between the pretest and follow-up surveys. Specific findings may help financial education providers to design and implement such programs more effectively and may provide guidelines to assess their effect. Directions for future research are suggested.     

Student Perceptions of Financial Literacy: Relevance to Practice

ABSTRACT

The relevance of financial literacy to social work has been framed almost exclusively in the context of poverty relief, but this study expands this framework to the evidence linking financial stress, not merely poverty, to adverse client outcomes. Using a new 15-item, quantitative instrument, student (N= 1,506) perceptions were collected. Respondents demonstrated a moderate awareness of the relevance of financial literacy in 11 of 15 problem issues commonly encountered in practice, indicating a moderate receptivity to financial education. Future research should clarify the contours of financial knowledge that is required to assist clients.     

A reciprocal,moderated mediation model of grit,engagement, and literacy achievement among dual language learners

This short‐term longitudinal study asked (a) how and for whom socioemotional factors like grit and emotional engagement predict later literacy achievement; and (b) if there are reciprocal effects between literacy and these socioemotional factors. An autoregressive cross‐lagged (ARCR) design included 3 time points over 4 months with an ethnic minority, dual language learner sample (n = 142; 54% female; 75% Latina/o; M = 9.47 years old). The procedure at each time point included teacher‐reported student emotional engagement and adapted grit questionnaires in addition to a student literacy achievement performance task. A reciprocal model (i.e., socioemotional factors and literacy affect each other) was compared to direct (i.e., socioemotional factors impact literacy) and reverse (i.e., literacy impacts socioemotional factors) models. Results suggested that the reciprocal model fit better than the direct and reverse models. Within the reciprocal ARCR model, grit had a significant impact on later literacy achievement via the mediator of engagement and moderated by age. Findings hold implications for education discourse on reciprocal and indirect effects of grit on achievement among older elementary‐aged dual language learners.     

Do young generations save for retirement? Ensuring financial security of Gen Z and Gen Y

Concerns about the population aging and global trends to shift more responsibility for future retirement from the state to the individual need policy planning to increase youth's savings for retirement. The study aims to identify behavioral, financial, demographic, and educational determinants of savings for retirement in two groups of young adults with reference to people aged 50–60. The binary logit model and pairwise comparison results showed that the probability of saving for retirement increases with age and responsibility fosters saving behavior among young adults. The observed differences allow the formulation of policy recommendations adapted to the preferences of generations Z and Y.     

Effects of Individualized Education Programs on Cognitive Outcomes for Children with Disabilities in Head Start Programs

ABSTRACT

This study investigated the impact of Head Start, disability status, and receipt of an Individualized Education Program (IEP) on early language, literacy, and mathematics skills for low-income children with language, cognitive, emotional/behavioral, sensory, and physical disabilities. Secondary analysis of data was performed on a sample of children with disabilities (N = 570) drawn from the Head Start Impact Study, a nationally representative study of approximately 5,000 children randomly assigned to Head Start or non–Head Start programs. Results of ordinary least squares regression analyses indicated that Head Start participation enhanced outcomes for children with multiple disabilities; language, literacy, and mathematics skills at age 5–6 years were higher for these children compared to non–Head Start attendees. Head Start children with disabilities were more likely to have an IEP, though IEP receipt was associated with lower language, literacy, and mathematics scores among all children. There is a need to ensure that Head Start, and programs similar to Head Start, are more widely available to provide comprehensive, quality early childhood programming to children with cumulative risk factors (low income, multiple disabilities). Future research should clarify why IEP receipt was associated with poorer cognitive outcomes.     

The Aging Semantic Differential in Mandarin Chinese: Measuring Attitudes toward Older Adults in China

ABSTRACT

The Aging Semantic Differential (ASD) is the most widely used instrument to measure young people’s attitudes towards older adults. This study translated the ASD to Mandarin and examined its psychometric properties. The Mandarin-ASD contains three latent factors (Personality and Mental Health, Societal Participation, and Physical) that have high internal reliability and reasonable discriminate validity. Social work researchers, practitioners and allied professionals may utilize the ASD-Mandarin instrument to measure young people’s attitudes towards older adults in China. We issue a call for a universal-ASD that can be applied across different cultural contexts.     

Empowering migrant domestic helpers through financial education

The provision of financial education for migrant domestic helpers is an important service that could enhance their financial well‐being and the well‐being of their families. However, in that migrant domestic helpers are often excluded from protection in the host country, such services are few and empirical research in this area is rare. In this article, we report the findings of an evaluation study on a financial literacy education programme provided by a Hong Kong organisation serving Filipina and Indonesian migrant domestic workers. Using a quasi‐experimental design, we confirmed the effectiveness of the programme. Participants who attended the programme developed improved financial knowledge and behaviour. Their general self‐efficacy and financial self‐efficacy were also enhanced. Key Practitioner Message: ? Migrant domestic helpers’ financial well‐being is enhanced through intensive financial education in financial knowledge and behaviour; ? Migrant domestic helpers’ self‐efficacy is strengthened through peer discussion of financial education; ? Effective services for migrant workers in the host country need to be in the migrants’ native language and be culturally sensitive.     

Implementing reverse mentoring to address social isolation among older adults

ABSTRACT

Reverse mentoring is a means to address the social work Grand Challenge of social isolation. Among older adults, reverse mentoring can improve social connection by increasing the digital competence of older adults so they can use technology for social benefit, and by facilitating intergenerational connections with young adult mentors. In this paper, reverse mentoring is examined within an intergenerational program that serves older adults and utilizes the native technological knowledge and skills of young adults who mentor older adult participants. Qualitative data were collected through young adult mentor logs of each session, and through open-ended questions on the post-surveys collected from older adults and young adult mentors. Qualitative analysis revealed three themes related to social connection: (1) an increased sense of self-efficacy for older adults as they build confidence in technological use, and for young adults as they develop leadership skills through mentoring, (2) the breaking down of age-related stereotypes, and (3) intergenerational engagement and connection. The findings demonstrate that reverse mentoring can be used in various settings to decrease the social isolation of older adults by developing intergenerational connections and increasing older adult usage of technology.     

Job-Seeking Behavior in Young Adults: Do Unemployment Insurance Benefits Hurt Job Search Efforts?

ABSTRACT. The purpose of the present study was to evaluate the association between extended unemployment insurance (UI) benefits and young adults’ job-seeking behavior. In particular, the study evaluated if the extension of UI benefits to 99 weeks in 2008 had direct effects on job search efforts. Three waves (2007–2009) of data (N = 915) from the National Longitudinal Survey of Youth were analyzed using multiple regression models to assess the association of UI benefits to young adults’ job search efforts. Additionally, the homogeneity of slope coefficients of the UI benefit on job search effort was evaluated across 3 years using an analysis of covariance (ANCOVA). The results of regression analyses suggest that UI benefits were negatively associated with job search efforts for 2007 and the pooled sample of 2007 to 2009, but the relationship was not significant for 2008 and 2009. The results of the ANCOVA suggest that the UI benefit extension of 2008 did not have any negative association with job search efforts. Future studies should explore the subjective experiences and decisions young adults make in consideration of unemployment, UI benefits, and job search efforts.     

Understanding the Financial Knowledge Gap: A New Dimension of Inequality in Later Life

ABSTRACT

To understand individuals’ financial behaviors, it is important to understand the financial knowledge gap – the distance between one’s objective and subjective financial knowledge. Overestimating one’s financial knowledge can lead to risky financial behaviors. To date, limited empirical work has examined how financial knowledge gap varies across age groups. We analyze the size and nature of the financial knowledge gap and its variation across age groups. Using nationally representative data, we find robust evidence that older adults overestimate their financial knowledge. Social workers can assess the financial knowledge gap and educate their clients to protect from financial fraud, exploitation, and abuse.     

A New Grandparenting

Summary

The author explores the social identity of older persons and their potential for taking leadership roles in their families and communities as mentors to young persons with disability. Dealt with is the powerlessness of both these groups within society and the way in which they may be able to empower each other. It is posited that serious and active grandparenting and mentoring have the potential of filling a large gap in the continuum of meaningful and productive activities for older adults and provide highly valuable support and human resource to young persons with disabilities.     

An Exploration of Mental Health Literacy Among African American Clergy

ABSTRACT

The purpose of this qualitative study was to explore African American clergy's mental health literacy with older congregants 60 years of age and older. Using a grounded theory approach, we recruited a purposive sample of 9 African American clergy representing diverse ages, denominations, locales, and educational levels. Data was coded and classified according to Kevin's (1976) Kevin, R. C. 1976. Factors influencing the judgment and referral of mental health presenting problems by clergymen and psychologists, Unpublished doctoral dissertation: University of Texas, Austin.  [Google Scholar] typology of pastoral counseling and Jorm et al.'s (1997) Jorm, A. F., Korten, A. E., Jacomb, P. A., Christensen, H., Rodgers, B. and Pollitt, P. 1997. “Mental health literacy”: A survey of the public's ability to recognize mental disorders and their beliefs about the effectiveness of treatment. Medical Journal of Australia, 166: 182–186. [Crossref], [PubMed], [Web of Science ®] , [Google Scholar] conceptual model of mental health literacy. Findings from data analysis revealed study respondents were adherents of Kevin's Religious–Community (R–C) model. Additionally, the following themes emerged: loss of cognitive functioning, psychosocial stressors, religiosity, and appreciation for professional assistance, cultural barriers, and key informants/familiarity with formal mental health providers which partially maps onto Jorm et al.'s conceptual model of mental health literacy.     

Determinants of Income Generation and Financial Performance Through Self-Help Groups

ABSTRACT

This study examines the efficacy of a microcredit-linked self-help group (SHG) program in identifying the problems faced by group members such as income generation and financial performance. To examine this, 120 members in each of three selected blocks in Birbhum District in West Bengal, India, were invited to participate. A multiple regression equation focused on identifying the contributing factors toward explaining SHG income. Results indicated that income generation for all the blocks together was significantly influenced by factors like loan amount, amount of saving, years of existence of SHG, education level of the group leader, and availability of the training facility. However, SHG-wise efficiency scores varied across the blocks that might be related to different sociocultural dimensions. Implications of the analytical findings for future research are discussed at the end of the article.     

Assessment of multiple constructs of social integration for older adults living in nursing homes

ABSTRACT

A variety of terms and measures have been used in the literature to denote being socially integrated, and many studies of older adults focus on only social networks or social support and often only include those living in the community. The purpose of this study was to assess multiple constructs of social integration (i.e., social networks, social capital, social support, and social engagement) for older adults in nursing homes. Data were collected from 140 older adults at 30 nursing homes in Kansas. We interviewed older adults’ in-person using a survey questionnaire, and used multilevel confirmatory factor analysis to analyze the data. The final model that included the four constructs had acceptable fit (χ² = 174.71; df = 112; p < .01; CFI = .93; RMSEA = .06; SRMR-W = .06; SRMR-B = .12). The results showed that the proposed model was supported at the individual level. At the between-level, social networks and social support were supported. Study results have methodological and practice/policy implications for the study of older adults in long term care settings. In particular, this study contributes to understanding how to operationally define and differentiate social integration variables in studies of older adults, particularly when study data are hierarchical.     

Financial Literacy and Superannuation Awareness of Indigenous Australians: Pilot Study Results

Financial literacy in the general Australian population and how to improve it is now firmly on the national agenda, partly as a result of compulsory superannuation. This paper reports the results of a pilot study which explored the financial literacy levels and superannuation knowledge of Indigenous Australians living in an urban environment. Previous studies have indicated that social disadvantage has a strong correlation with poor financial literacy but previous surveys of financial literacy in Australia have not reported specifically on the Indigenous population. Findings suggest that in some areas financial literacy is significantly weaker than that in the general population. Several of the areas of comparative weakness relate to an over belief in the role of government and the extent to which financial matters are regulated. There is also a high level of desire for financial education and information but a lower level of usage of potential sources of financial information. The findings suggest that a closing of the financial literacy gap is required.     

New Labour and Pensions Reform: Security in Retirement?

New Labour has defined the problem of security in retirement as one of undersaving and has sought to resolve it both by measures which encourage saving and by improving financial literacy. The article discusses both of these approaches, arguing that each is flawed and that, in addition, New Labour's pension policy exhibits several tensions which threaten to undermine the objective of providing a secure income in retirement.     

Predictors of Posttraumatic Growth Among Adult Tsunami Survivors: The Role of Employment,Religion, and Family Attributes

ABSTRACT

This study examined the positive effects of trauma exposure among adult survivors of the 2004 Indian Ocean tsunami and was guided by a bioecological framework. A total of 301 adults from India were assessed for posttraumatic growth and a set of demographic, individual, family, and social capital variables. Hierarchical regression analysis revealed that religion, employment, family type, family flexibility, and family communication were significant predictors of posttraumatic growth. Contrary to expectations, individual factors and social capital did not contribute to posttraumatic growth. Findings imply that helping survivors make meaning out of their traumatic experience may facilitate posttraumatic growth. Intervention to promote increased employment opportunities and family resources is highly recommended for adult trauma survivors. Future trauma research should explore the role of perceived as well as actual familial and community resources, in addition to personal resources, in fostering posttraumatic growth.     

Paternal Risk Factors for Child Maltreatment and Father's Participation in a Primary Prevention Program in Germany

ABSTRACT

Across the globe, the research into the influence of paternal risk and protective factors on the family, as well as on the involvement of fathers in family-related interventions, is lacking. This study utilized 506 families and examined the characteristics of fathers in psychosocially stressed families and associations between paternal risk factors (PRFs: mental health disorder, physical health disorder, young paternity, unemployment, absence of father) and family risk factors (FRFs: problematic financial situation, problematic housing situation, social isolation) for child maltreatment. The identification of PRFs and FRFs was carried out using information from consultations with social education workers and from a risk inventory completed by the mothers. The data analysis revealed an increased incidence of economic problems found in families with fathers having mental health issues, fathers under the age of 22, and unemployed fathers or single mothers. Other factors such as social isolation occurred more often in families with a single mother. The present study underlines the importance of a father's involvement for young families. Future research and program recommendations should always systematically include the father's role in family-related interventions.     

The Revised 28-Item Racial and Ethnic Microaggressions Scale (R28REMS): Examining the Factorial Structure for Black,Latino/Hispanic,and Asian Young Adults

ABSTRACT

Racial and ethnic discrimination has adverse effects on the health and mental health outcomes of people of color. Evidence indicates that modern discriminatory behavior is often a product of brief, commonplace, and often subtle acts that convey derogatory messages to people of color, known as racial and ethnic microaggressions. Accurately measuring microaggression is essential to understanding and preventing behaviors that are consistent with this complex construct. The current study examines evidence for the reliability and validity of the Racial and Ethnic Microaggressions Scale (REMS). Data from a sample of 286 randomly selected Black, Latino/Hispanic, and Asian young adults (ages 18–35 years old) were used to examine the REMS. Exploratory factor analysis was used to assess the factor structure of the REMS across racial and ethnic groups. Findings support the reliability of the instrument but also suggest that a shorter 5-factor model offers a promising alternative to the original 6-factor instrument. Results also reveal differences between how members of different racial and ethnic groups conceptualize microaggression. Recommendations for using a revised version of the instrument (the Revised 28-Item REMS) and for future research aimed at optimally measuring microaggression are identified.