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Financial Capability in the United States 2016. It compares working-age adults with disabilities to those without disabilities on four key components of financial capability: Making Ends Meet, Planning Ahead, Managing Financial Products and Financial Knowledge and Decision Making. Our findings are summarized below: Making Ends Meet
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Table 3 presents descriptive statistics of risky asset hold-ing and financial capability variables by disability type. Among disability types, three disability types that had much higher than average holding rates were the deaf (35%), blind (27%), and dressing difficulty (24%).
- World Bank Definition of Financial Capability
- The Capability Approach
- Financial Capability and The Capability Approach
- Health and ‘Financial Capability in Poverty’
In a 2013 report Making Sense of Financial Capability Surveys around the World, The World Bank draws together the notions of financial wellbeing, financial capability and financial literacy . Financial wellbeing exists where individuals get the financial services to fit their needs, such as adequate pension planning. Financial literacy is people’s ...
The use of the term ‘capability’ leads some to posit a link to the Capability Approach to social justice developed Armatya Sen and Martha Nussbaum [10,11]. At the core of the Capability Approach is the concept of people’s functionings, what they do and are. Examples of ‘doing’ are travelling, going to work, washing and reading. Examples of ‘what yo...
It follows that financial capability is not a capability of the Sen/Nussbaum type. For most people it is a means to ends that are genuinely constitutive of a good life, such as adequate nutrition and health, control and the ability to play. Financial capability might however be considered a conversion factor necessary for an individual to convert a...
We have argued that financial capability is not a capability in the sense of the Capability Approach, but this is not in itself a flaw; those using the term financial capability do not need to make such a claim. The flaw lies in the judgement of financial capability or incapability being made without adequate heed of the starting points of the indi...
- Peter Allmark, Katarzyna Machaczek
- 2015
N = 1,047 disabled respondents, 3,604 non-disabled. People with disabilities struggle with all aspects of financial health. Just half (51%) of working-age people with disabilities said they were able to pay all of their bills on time, while close to half (46%) said they have unmanageable levels of debt.
The research uncovers multiple obstacles – including employment barriers, financial exclusion and public safety net constraints – that may be undermining their financial health. This report explores the complex challenges faced by people with disabilities in their daily financial lives, while identifying several opportunities to foster equity and financial well-being across the disability ...
May 23, 2024 · A person’s financial capability, which encompasses financial knowledge, confidence, and motivation to manage their finances effectively (Atkinson et al., 2007); the ability to apply the requisite skills or knowledge to various financial products (Johnson & Sherraden, 2007): and the application of appropriate financial knowledge and behaviors to improve their financial well-being , is crucial ...
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Mar 14, 2015 · Approximately, financial capability is people’s ability to deal with their finances by such things as planning their pension and making ends meet. A shortfall in people’s financial capability has been identified as partially to blame for bad financial planning, such as a lack of personal pension provision [ 1 ].
