Ethnic Differences in Financial Outcomes Among Low-Income Older Asian Immigrants: A Financial Capability Perspective

2018 ◽  
pp. 89-105
Author(s):  
Yunju Nam ◽  
Jin Huang ◽  
Eun Jeong Lee
Keyword(s):  
Ethnic Differences ◽  
Low Income ◽  
Asian Immigrants ◽  
Financial Capability ◽  
Financial Outcomes

Financial Capability and Economic Security among Low-Income Older Asian Immigrants: Lessons from Qualitative Interviews

Social Work ◽  
2019 ◽  
Vol 64 (3) ◽  
pp. 224-232 ◽  
Author(s):  
Yunju Nam ◽  
Margaret S Sherraden ◽  
Jin Huang ◽  
Eun Jeong Lee ◽  
Mary Keovisai
Keyword(s):  
Los Angeles ◽  
Low Income ◽  
Financial Services ◽  
Financial Management ◽  
Economic Security ◽  
Asian Immigrants ◽  
Financial Knowledge ◽  
Management Skills ◽  
Financial Capability ◽  
Financial Barriers

Abstract This article examines financial capability among low-income older Asian immigrants, using data from in-depth interviews with 13 participants in a subsidized employment program in Los Angeles. Overall, respondents present a portrait of economic insecurity. Qualitative analyses indicate that respondents perceived little need to improve their financial knowledge and management skills because they had “no money to manage.” Most respondents lacked either financial knowledge or financial management skills, which resulted in substantial financial losses among some respondents. Mistrust of financial institutions (“Banks are always vampires”) and other financial barriers (for example, lack of credit history) blocked respondents’ access to formal financial services. In some cases, ethnic financial resources (for example, ethnic banks) reduced the effects of such barriers. There is evidence that respondent financial knowledge and management skills may improve after opening a bank account, suggesting a potential role for financial access in expanding financial capability. Findings demonstrate the importance of financial capability–building interventions for low-income older Asian immigrants. Social workers should be equipped with financial literacy and in-depth understanding of financial needs, perceptions, values, behaviors, and resources of this population.

The Fight to Save Welfare for Low-Income Older Asian Immigrants: The Role of National Asian American Organizations

2003 ◽  
Vol 1 (1) ◽  
pp. 85-101 ◽  
Author(s):  
Grace Yoo
Keyword(s):  
Welfare Reform ◽  
Asian American ◽  
Low Income ◽  
Bill Clinton ◽  
Asian Immigrants ◽  
Central Question ◽  
Political Debate ◽  
Welfare Reform Law ◽  
Selection Of

The welfare reform law of August 1996 signed by President Bill Clinton put an end to immigrants’ eligibility of federal means tested entitlements. The rollbacks on welfare are the most drastic for older, low-income Asian immigrants who are on Supplemental Security Income. The article’s focus is in on national Asian American organizations who are involved in this political debate. The central question discuss is how did national Asian American organizations characterize and affect the 1996 federal welfare reform and immigrant debate. The selection of organizations that was studied and the findings of that investigation, along with the assessment of its effectiveness and the resources barriers they face are discussed.

scholarly journals Racial/Ethnic Differences in Obesity Trends Among Young Low-Income Children

2015 ◽  
Vol 48 (5) ◽  
pp. 570-574 ◽  
Author(s):  
Liping Pan ◽  
Lisa C. McGuire ◽  
Heidi M. Blanck ◽  
Ashleigh L. May-Murriel ◽  
Laurence M. Grummer-Strawn
Keyword(s):  
Ethnic Differences ◽  
Low Income ◽  
Low Income Children ◽  
Obesity Trends ◽  
Racial Ethnic

Financial well-being of customer-to-customer co-creation experience: a comparative qualitative focus group study of savings/credit groups

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nkosinathi Sithole ◽  
Gillian Sullivan Mort ◽  
Clare D'Souza
Keyword(s):  
Low Income ◽  
Financial Services ◽  
Well Being ◽  
Social Experiences ◽  
Sub Saharan Africa ◽  
Focus Group Study ◽  
Financial Capability ◽  
Content Type ◽  
Self Confidence ◽  
Sub Saharan

PurposeThis paper aims to explore the effects of the customer-to-customer co-creation experiences of savings/credit groups in the African context and how savings/credit groups influence financial capability and enhance financial well-being.Design/methodology/approachUsing purposive sampling, a study of a total of 18 focus groups was conducted in sub-Saharan Africa. Nine urban-based savings/credit groups were drawn from across South Africa and additional nine, rural-based savings/credit groups were studied in the Monduli district of Tanzania.FindingsFindings demonstrate that the African philosophy of Ubuntu, which promotes customer-to-customer interaction, is the cornerstone of the customer-to-customer co-creation experience. Ubuntu philosophical principles were found to influence the dialogue, access, risk and transparency model of co-creation and customer-dominant logic. The results show further that customer-to-customer co-creation experience positively influences the cognitive, financial, personal and social experiences of members. Specifically, it was found that cognitive and financial experiences positively influence financial satisfaction, financial self-esteem, financial self-efficacy and financial capability, all of which enhance financial well-being. In addition, personal and social experiences positively influence equality, self-confidence, entrepreneurial skills and motivation that in turn enhance social well-being.Research limitations/implicationsThis study has implications for many different stakeholders concerned with the financial inclusion of low-income consumers, particularly in the southern part of Africa.Originality/valueTo the authors’ knowledge, this is the first study to explore the effects of customer-to-customer co-creation experiences in traditional financial services settings in order to understand how these indigenous financial services influence the financial capability and financial well-being of co-creation members.

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