Suchergebnisse

Chapter 1: Introduction -- Chapter 2: Theories and Evidence of Financial Vulnerability -- Chapter 3: Building a Financial Vulnerability Model -- Chapter 4: Socio-Cultural and Economic Institutions at the Local Level -- Chapter 5: The Household as Financial Manager -- Chapter 6: Markets and Financial Institutions -- Chapter 7: Principles and Policy Recommendations.

Strategies to promote consumer financial well-being are different in Australia and Canada even though they have many similarities at the demographic, social, and economic levels. In Australia, as compared with Canada, financial literacy and bank inclusion are understood to be closely related and stakeholders, including banks, civil society, and the state, work relatively closely together to improve financial well-being of marginalized groups. This paper describes this situation, explains major factors that have shaped each country's approach, and provides examples with special reference to Indigenous financial inclusion. Bank commitment to social responsibility plays an important role in explaining the difference. The purpose of this paper is to show that Australia's strategies and models may be of use to Canada to improve general financial well-being, and as collaborative efforts are beginning to work with Indigenous Peoples in Canada to build Indigenous Person financial well-being there. ; Les stratégies visant à promouvoir le bien-être financier varient entre l'Australie et le Canada., même si elles présentent de nombreuses similitudes aux niveaux démographique, social et économique. En Australie, par rapport au Canada, la littératie financière et l'inclusion bancaire sont étroitement liées et les parties prenantes, notamment les banques, la société civile et l'État, travaillent relativement étroitement ensemble pour améliorer le bien-être financier des groupes marginalisés. Cet article décrit cette situation, explique les principaux facteurs qui ont façonné l'approche de chaque pays et, fournit des exemples avec une attention toute particulière à l'inclusion financière des autochtones. L'engagement des banques envers la responsabilité sociale joue un rôle important pour explique la différence entre les deux pays. Le but de cet article est de montrer que les stratégies et les modèles de l'Australie peuvent être utiles au Canada pour améliorer le bien-être financière général, et en tant qu'effort de collaboration afin de construire éventuellementune stratégie de bien-être financier autochtone, ainsi que le bien-être indigène en soi.

Family and community care work – mentoring, feeding, and nurturing – is a critical activity in any society. It is, and it enables, productive and reproductive acts that hold society together and enable economies to function. Its importance is magnified for people with low income in that their economic options, outside the home, are more limited than for people with higher incomes. We conducted a year-long financial diaries project with twenty-eight mainly low-income Canadians and found that care work was critically important for them and their families and communities. However, we found that this work was often stigmatised: it is not well paid (if at all;, it involves costs to the provider; and it can lead people to become dependent on predatory loans. We argue that Canadian social policy must broaden its conception of care work and expand support for persons, particularly women, who have older children, and community commitments.

AbstractHousehold 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‐ to 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.

This book analyzes the highly contentious payday lending industry, presenting valuable new data collected during Canada's recent regulatory reviews and demonstrating its relevance to payday lending conversations taking place worldwide. The authors treat the industry with a balanced hand by establishing its importance as an example of financialization and acknowledging the complex impact of payday lending services on low-income and credit-constrained clients. Up-to-date data from an interdisciplinary mix of financial, econometric, legal, behavioral economic, and socioeconomic sources-all in the context of an established Canadian industry-provide both proponents and opponents of payday lending with valuable evidence for their discussions of how much regulation is required to minimize harmful consequences. These insights from Canada expand a US-centric conversation and provide a key resource for the growing list of countries in which the industry is present, from the UK and Poland to South Africa and Australia.