Financial education intervention to promote financial well-being in low income mothers
Abstract Background Financial well-being has only recently been acknowledged as a social determinant of health. This study explored a framework for delivering financial education to low-income, primarily Hispanic mothers. Methods A financial education intervention was developed for low-income mother...
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| Format: | Article |
| Language: | English |
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Springer
2025-05-01
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| Series: | Discover Education |
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| Online Access: | https://doi.org/10.1007/s44217-025-00473-y |
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| author | Radha Bhattacharya Rachel Lobo Jennifer Barrows Jennifer Hayakawa Michelle Lubahn |
| author_facet | Radha Bhattacharya Rachel Lobo Jennifer Barrows Jennifer Hayakawa Michelle Lubahn |
| author_sort | Radha Bhattacharya |
| collection | DOAJ |
| description | Abstract Background Financial well-being has only recently been acknowledged as a social determinant of health. This study explored a framework for delivering financial education to low-income, primarily Hispanic mothers. Methods A financial education intervention was developed for low-income mothers of infants based on formative data gathered from focus groups, cognitive interviews, and a pilot survey. Participants attended five weekly 30 min classes taught in small groups using a virtual format. Self-reported surveys were administered at baseline and post-intervention to explore associations between financial well-being and baseline demographic and financial characteristics, examine factors associated with financial education class attendance, and evaluate associations between financial education, mothers’ financial outcomes, and financial well-being. Results Of the 56 participants enrolled in the study from March 2021 to February 2022, 18 attended at least one class and 15 completed the post-intervention survey. Financial confidence and behavior were positively associated with financial well-being (p = 0.00). Attitude toward saving predicted financial behavior (p = 0.00). Common barriers to attendance included lack of time and the need for childcare. Following financial education, participants reported feeling more comfortable going to a bank to inquire about a product or service (p = 0.0001) and greater ability to make financial decisions new to them (p =0 .03). While overall financial well-being did not change, the ability to handle a major expense improved (p =0.004). Discussion Given the limited time that new mothers can dedicate to financial education, the goals of such programs should focus on building confidence in making informed financial decisions and fostering a positive attitude toward saving. |
| format | Article |
| id | doaj-art-ce057bbb08ce4b80aa0164b7ca001d29 |
| institution | Kabale University |
| issn | 2731-5525 |
| language | English |
| publishDate | 2025-05-01 |
| publisher | Springer |
| record_format | Article |
| series | Discover Education |
| spelling | doaj-art-ce057bbb08ce4b80aa0164b7ca001d292025-08-20T03:52:20ZengSpringerDiscover Education2731-55252025-05-014111810.1007/s44217-025-00473-yFinancial education intervention to promote financial well-being in low income mothersRadha Bhattacharya0Rachel Lobo1Jennifer Barrows2Jennifer Hayakawa3Michelle Lubahn4Department of Economics, Director, Center for Economic Education, College of Business and Economics, California State University FullertonCollege of Business and Economics, California State University FullertonNursing Research and Innovation, Children’s Hospital of Orange CountyNursing Research and Innovation, Children’s Hospital of Orange CountyCommunity Education Manager, Children’s Hospital of Orange CountyAbstract Background Financial well-being has only recently been acknowledged as a social determinant of health. This study explored a framework for delivering financial education to low-income, primarily Hispanic mothers. Methods A financial education intervention was developed for low-income mothers of infants based on formative data gathered from focus groups, cognitive interviews, and a pilot survey. Participants attended five weekly 30 min classes taught in small groups using a virtual format. Self-reported surveys were administered at baseline and post-intervention to explore associations between financial well-being and baseline demographic and financial characteristics, examine factors associated with financial education class attendance, and evaluate associations between financial education, mothers’ financial outcomes, and financial well-being. Results Of the 56 participants enrolled in the study from March 2021 to February 2022, 18 attended at least one class and 15 completed the post-intervention survey. Financial confidence and behavior were positively associated with financial well-being (p = 0.00). Attitude toward saving predicted financial behavior (p = 0.00). Common barriers to attendance included lack of time and the need for childcare. Following financial education, participants reported feeling more comfortable going to a bank to inquire about a product or service (p = 0.0001) and greater ability to make financial decisions new to them (p =0 .03). While overall financial well-being did not change, the ability to handle a major expense improved (p =0.004). Discussion Given the limited time that new mothers can dedicate to financial education, the goals of such programs should focus on building confidence in making informed financial decisions and fostering a positive attitude toward saving.https://doi.org/10.1007/s44217-025-00473-yFinancial literacyFinancial knowledgeFinancial healthSocial determinants of healthMinority women |
| spellingShingle | Radha Bhattacharya Rachel Lobo Jennifer Barrows Jennifer Hayakawa Michelle Lubahn Financial education intervention to promote financial well-being in low income mothers Discover Education Financial literacy Financial knowledge Financial health Social determinants of health Minority women |
| title | Financial education intervention to promote financial well-being in low income mothers |
| title_full | Financial education intervention to promote financial well-being in low income mothers |
| title_fullStr | Financial education intervention to promote financial well-being in low income mothers |
| title_full_unstemmed | Financial education intervention to promote financial well-being in low income mothers |
| title_short | Financial education intervention to promote financial well-being in low income mothers |
| title_sort | financial education intervention to promote financial well being in low income mothers |
| topic | Financial literacy Financial knowledge Financial health Social determinants of health Minority women |
| url | https://doi.org/10.1007/s44217-025-00473-y |
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