Jerry Buckland, Jennifer Frimpong, Wendy Nur, Wayne Simpson
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Abstract
Household income, assets, and socioeconomic context influence people's financial behavior and their financial literacy. This study uses a mixed methods financial diaries to understand the strengths and weaknesses of the finances of 28 Canadians with low income. Contrary to results from national surveys on financial literacy, we found that these low‐ and modest middle‐income participants were careful with their finances by doing things such as paying of one's credit card immediately, deliberately focusing on needs, and tracking one's finances. There were cases of decisions that seemed to harm the participants longer‐term financial wellbeing but, in many cases, barriers in banking, the labor market, and government support programs prevented a better choice.
期刊介绍：
Poverty is worldwide, but empirical studies of poverty, income distribution, and low-income aid programs for citizens have thus far been more common in America, Canada, Australia, and the major industrial nations of Europe. American and Canadian studies of poverty, income issues, and social welfare programs have, to an extent, been insular in scope. Poverty & Public Policy (PPP) is a global journal. In much of the world, including Central and South America, Africa, the Middle East and much of Asia, there are important studies of poverty, income and aid programs; little has been integrated into the scholarly literature, however, which is an oversight this journal aims to correct. Poverty & Public Policy publishes quality research on poverty, income distribution, and welfare programs from scholars around the globe. PPP is eclectic, publishing peer-reviewed empirical studies, peer-reviewed theoretical essays on approaches to poverty and social welfare, book reviews, data sets, edited blogs, and incipient data from scholars, aid workers and other hands-on officials in less developed nations and nations that are just beginning to focus on these problems in a scientific fashion.
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