WUNRN
Fiji -
Women’s Financial Inclusion Significantly Improves Household Wellbeing
The wellbeing of a rural household can be quantifiably improved if only one person in that household attends financial literacy training and has a savings account. A significantly higher level of wellbeing is achieved when that person is a woman.
Conclusion from Financial
Capability, Financial Competence and Wellbeing in Rural Fijian Households
Investing in Women Gives the Greatest Returns
Women
accept the principal role in the management of household finances in rural
Fijian households and are demonstrably more competent than men at managing
household finances and at saving. Their role is pivotal to improving the
wellbeing of their households. And yet, evidence from rural Fiji suggests that
despite this, women have fewer opportunities to access the banking system and
to participate in financial literacy training programs. Financial literacy and
financial inclusion programs must emphasize the active participation of women
to maximize impact. The study shows that investing in financial literacy
training that is accessible and convenient to women gives the greatest returns
to rural households. Specifically targeting women’s training coupled with
interventions to increase women’s access to simple and affordable savings
services should be an integral part of any financial inclusion strategy.
Financial Capability, Financial Competence and Wellbeing in Rural Fijian Households