Sociocultural Issues in Adult Financial Education

Forté, Karin Sprow

doi:10.1002/ace.20080

Cited by 8 publications

(6 citation statements)

References 16 publications

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“…Different scholars around the world have made a remarkable effort with regard to the historical development of financial education on global growth and financial literacy. Decades before now, different academic works acknowledged the impact of financial literacy on individuals and collectively contributed to knowledge building across all regions with regard to promoting a better understanding of money and managing financial challenges (Wallace, 2018;Forté, Taylor, & Tisdell, 2014). As such, recognition of the need for financial literacy was spotted in a letter from John Adams to Thomas Jefferson, dated 23 rd August 1787.…”

Section: National Strategy On Financial Literacy Educationmentioning

confidence: 99%

The National Strategy on Financial Literacy: A Conceptual Review of South African Perspectives

Mbukanma¹,

Rena²,

Prinsloo³

2019

J. Rev. Global Econ.

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The relevance of financial literacy in the lives of individuals has attracted several stakeholders from different parts of the world in the quest to provide the required financial knowledge for households to manage their financial wellbeing. Accordingly, previous studies show that financial literacy serves as a mechanism to enhance the ability of households to better allocate financial resources with regard to savings and wealth creation over their lifetimes in a world of uncertainty and imperfect insurance. Thus, this study provides a literature review on global initiatives, strategies and programmes on financial literacy as well the perspectives of financial literacy programmes in South Africa. As such, it is the objective of this study to ascertain from previous literatures the factors that hinders the smooth delivery of financial literacy programmes in South Africa. Thus, the researcher employed a descriptive literature review method to achieve this objective. The findings of this study identifies that there is a growing need for a continuous financial literacy campaign especially in South Africa as the aging populations are confronted with intensified pressure on standardised plan for future financial well-being. However, the challenges of financial literacy programmes in South Africa was ascertained which forms part of the factors that hinders smooth campaign of financial literacy programmes in South Africa. Hence, this study recommends practical intervention factors of financial literacy programme in South Africa, which is expected to assist policy makers in formulating the right financial knowledge delivery programmes in South Africa.

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Section: National Strategy On Financial Literacy Educationmentioning

confidence: 99%

The National Strategy on Financial Literacy: A Conceptual Review of South African Perspectives

Mbukanma¹,

Rena²,

Prinsloo³

2019

J. Rev. Global Econ.

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“…Indigenous ways of knowing, being and doing (Martin, 2003) are used as the theoretical lens to examine if the dominant discourses identified through CDA are moving toward selfdetermination for Indigenous people. For self-determination it is crucial; the texts and resources used in educational settings embrace this vision and acknowledge and value Aboriginal epistemologies (Forté, 2014) instead of taking a deficit approach. If selfdetermination is not the focus for Indigenous people in an educational setting then colonisation practices will continue to be promoted as the superior ways of being (Pinto & Blue, 2015).…”

Section: Theoretical Framework -Indigenous Epistemology Ontology Andmentioning

confidence: 99%

Other ways of being: challenging dominant financial literacy discourses in Aboriginal Context

Blue

Pinto

2017

Aust. Educ. Res.

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Financial literacy education (FLE) continues to gain momentum on a global scale. FLE is often described as essential learning for all citizens, despite the bulk of initiatives outside the compulsory school classrooms focused on educating economically disadvantaged individuals. Informed by Indigenous ways of knowing, being and doing a critical discourse analysis of FLE facilitators resources used in train-the-trainer workshops in/for a Canadian Aboriginal community was conducted to identify dominant discourses. An uncomfortable space was uncovered as the ubiquitous focus on individual wealth accumulation contradicted Indigenous ways of knowing, being and doing, underscoring the challenges of embedding Indigenous epistemologies in highly institutionalised charitable organizations' attempts to help Indigenous (and non-Indigenous) peoples in poverty. Though this research is based on a Canadian program, the explosion of FLE as a "solution" to collective problems such as poverty lends itself to other-including Australian-contexts. Keywords (4-6): financial literacy education, Indigenous education Acknowledgement: The first named author would like to thank the Fellowship Fund Inc. of Graduate Women Queensland for awarding her with the inaugural Molly Budtz-Olsen 3 year Fellowship during her PhD candidature.

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“…Today formal education to generate financial awareness is one of the important things. Even as the economy of the United States faces a recession with slowing economic growth and high unemployment, the demand for financial literacy education in the country has increased dramatically (Forté, 2014). It is because the government and society worry that many people failed in their old age because they lack ability to manage finance.…”

Section: Introductionmentioning

confidence: 99%

“…Based on the researchers' records, it is believed that the following factors greatly determine a person's financial awareness: social background, education, gender, and culture (Forté, 2014). Therefore, a financial instructor is encouraged to know more about the conditions of life of his students in teaching.…”

Section: Introductionmentioning

confidence: 99%

“…Therefore, a financial instructor is encouraged to know more about the conditions of life of his students in teaching. Because the socio-cultural conditions, including family background, race, language skills, their mother tongue, gender also determine their attitudes in financial matters (Forté, 2014). By exploring the most sublime aspects of each student, teaching will be more effective in touching the heart, so the results are more effective.…”

Section: Introductionmentioning

confidence: 99%

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Financial Awareness Among the Teachers

Holik

Mulyeni

2019

EDAJ

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People are vulnerable into economic difficulties if they do not have financial awareness. This study seeks to find out what the determinants of financial intelligence in junior and vocational school teachers in an area of West Java are. Our findings explain, in general, that teachers have relatively high financial awareness. Empirical tests suggest the financial awareness is influenced by an only one independent variable, namely a person's attitude. While the other independent variables such as family and individual perceptions are not significant at all. This finding proves the need for character education for everyone to have financial awareness. The reason is, the more mature a person, then the most determines everything in the life is his/ or her attitude, not anything coming from the family or something perceived so far.

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Sociocultural Issues in Adult Financial Education

Abstract: This chapter introduces the volume and discusses the importance of considering sociocultural factors, such as race, gender, socioeconomic class, language, and age, in the financial education of adults.

Cited by 8 publications

References 16 publications

The National Strategy on Financial Literacy: A Conceptual Review of South African Perspectives

The National Strategy on Financial Literacy: A Conceptual Review of South African Perspectives

Other ways of being: challenging dominant financial literacy discourses in Aboriginal Context

Financial Awareness Among the Teachers

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