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ERIC Number: EJ893418
Record Type: Journal
Publication Date: 2010
Pages: 20
Abstractor: As Provided
ISSN: ISSN-0741-7136
Are Low-Income Canadians Financially Literate? Placing Financial Literacy in the Context of Personal and Structural Constraints
Buckland, Jerry
Adult Education Quarterly: A Journal of Research and Theory, v60 n4 p357-376 2010
This article argues that financial literacy varies across socioeconomic groups and their neighborhoods, in part because of the adult learning that occurs within a local context. The study begins by explaining that financial literacy needs vary across socioeconomic groups and that there are important structural factors affecting the financial well-being of low-income people. Drawing on data from qualitative field research undertaken in three Canadian inner cities, it then moves to examine low-income respondents' financial literacy. The results show that many low-income respondents evidenced financial literacy in that many learned to cope with strict budgets, used diversified activities to raise their income, constrained their credit, and were reasonably knowledgeable about relevant government programs and banking services. Where particular constraints were noted in financial literacy, they related to detailed knowledge about institutional policies and attitudes about deeper financial and life goals. (Contains 1 table and 9 notes.)
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Publication Type: Journal Articles; Reports - Evaluative
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Canada