South Africa has a poor savings culture. This means that South Africans do not save enough income for a later stage resulting in a relative large number of South African consumers living in debt and using more credit than what they have saved. Almost half of the South African consumers were in debt during the year 2010 and had a negative credit record. Thus consumers in South Africa are not living only in poor conditions but are also open to exploitation by the informal economy. Lenders in the informal economy are known as ‘loan sharks’ because they charge consumers interest rates of between 40 and 60 percent. This is because low income consumers have less access to savings products and credit facilities from the formal economy. These factors are more prevalent among the black consumers, as they use informal credit providers. The sources of credit for black consumers in the informal market are social networks such as friends and family. Furthermore, black consumers have low levels of knowledge regarding issues such as bad debts. Black consumers are also more likely to experience financial problems than other racial groups. This means that black consumers may need to improve their levels of financial knowledge, financial skills and adopt positive financial attitudes to manage their financial problems without obtaining more debt. Thus, financial education may be the way of ensuring that black consumers improve their financial decision-making ability and their financial behaviour. Therefore, the purpose of this study is to investigate the relationships between financial literacy, financial inclusion and financial behaviour among the black community in Nelson Mandela Bay. To achieve the purpose of this study, a literature review was conducted on financial literacy, financial education, financial inclusion and financial behaviour. This was followed by an empirical investigation to establish the relationships between financial literacy, financial inclusion and financial behaviour. In this study, a quantitative research approach was adopted as necessitated by the purpose of this study and also to be able to collect a vast amount of perceptions from the black community. The sample of this study consisted of low to middle income black consumers living in Nelson Mandela Bay.

This study was designed to compare the financial attitudes, financial behaviors, and financial satisfaction of limited income households and middle income households. Deacon and Firebaugh’s family resource management systems theory was used as the theoretical model for this study. Measures of financial attitudes concerned the areas of planning, credit, spending, saving, insurance, financial responsibility, and expectations. Measures of financial behaviors concerned the areas of planning, spending, saving, credit, insurance, taxes, and financial responsibility. Measures of financial satisfaction concerned satisfaction with standard of living and amount of money saved or invested. The respondents were a sub-set of an existing data base, Financial Attitudes and Practices of Virginia Citizens, Form A, (N=529). Forty-one respondents who reported a 1989 income below 125% of the poverty guidelines were included as the limited income sample. One hundred eight respondents who reported an income in 1989 between $30,000 and $44,999 were included as the middle income sample. Descriptive statistics were used for demographic items. T-tests and chi-square tests were used to compare responses to the individual measures by income group. A t-test compared the mean summed scores for the measures of financial attitudes using a Likert type response scale. There was a significant difference in the financial attitudes of limited income households and middle income households (p = .00). Using the same method for the measures of financial behaviors and financial satisfaction, it was found that there also were significant differences in the financial behaviors (p = .00) and financial satisfaction of limited income households and middle income households (p = .00). / Master of Science

This study investigated marital therapists' preparation for and attitudes toward providing financial counseling. A questionnaire was sent to a systematic, Nth interval, random sample of American Association for Marriage and Family Therapy clinical members and approved supervisors. Twenty-nine of the fifty approved supervisors- and one hundred twenty-four of the two hundred ninety-seven clinical members responded. overall response rate was 44 percent. The respondents were highly educated and experienced therapists. On average, one-third of the respondents' clients report financial conflicts. Although few respondents had any formal training in financial areas, most (78 percent) perform financial counseling. Fifty-seven percent reported they had sufficient training and expertise to provide financial counseling. It appeared that many provide financial counseling to clients despite doubts of their expertise in this area. Most respondents were personally interested in obtaining training in financial counseling. Most reported that marital therapists should provide financial counseling and saw a need for training prospective marital therapists in financial counseling. / Master of Science

This investigation focused on why the poor are in debt, what they are indebted for, when debt was incurred, why a loan was incurred, and from whom it was aquired and for what purpose. In addition, it investigated the reasons for indebtedness, as well as the possibilities of how this situation may be addressed and the indebtedness reduced.

This investigation focused on why the poor are in debt, what they are indebted for, when debt was incurred, why a loan was incurred, and from whom it was aquired and for what purpose. In addition, it investigated the reasons for indebtedness, as well as the possibilities of how this situation may be addressed and the indebtedness reduced.

Thesis (D. Min.)--New Orleans Baptist Theological Seminary, 2005. / Includes abstract and vita. Includes project proposal. Includes bibliographical references (leaves 221-224).

Thesis (D. Min.)--New Orleans Baptist Theological Seminary, 2005. / Includes abstract and vita. Includes project proposal. Includes bibliographical references (leaves 221-224).

Thesis (MComm)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: Financial independence is what most people strive for; however, world trends indicate that it eludes the majority of the population. In South Africa, financial independence figures, especially at retirement, range disconcertingly between 6% and 10%. Numerous factors contribute to and influence financial independence, such as the current economic climate, personality characteristics and attitudes and behaviour. In an attempt to understand the complexity of the interplay between finance and psychology, this research explores a commercial product, the Moneymax Profile (MMP), and endeavours to relate it to scientific literature that will contribute to the understanding of how personality characteristics and attitudes and behaviours toward money will influence financial independence. An ex post facto correlational research design was employed in this exploratory quantitative study (n = 67). The Financial Independence Scale (FIScale) was constructed for the purposes of the study. The concept of optimal financial attitudes and behaviour (OFAB) was developed and defined as measurable attitudes and behaviour that maximise the likelihood that individuals will experience financial security or independence. OFAB was measured by subscales of personality (locus of control, Type A/B personality, time orientation) and financial attitudes and behaviour (for example budgeting, social referents, financial discipline, control of investments). Results indicated that locus of control, time orientation, budgeting, social referents and control of investment were reliable measures of OFAB. The Moneymax traits with a moderate correlation that contributed significantly to OFAB were pride, emotionality, confidence, contentment, spending and trust. The traits of involvement, power and risk taking were significant, but the relationship with OFAB was weak. The remaining traits of altruism, work ethic, self-determination and reflectivity held little statistical value. The principle contributors to an individual’s financial habits and current status were noted to be education level, unexpected circumstances and trusting others. The lack of available psychometric properties for the MMP and the small sample were major limitations of this study. The disciplines of economics and psychology would do well to continue working together in an effort to comprehend money and money personality. / AFRIKAANSE OPSOMMING: Finansiële onafhanklikheid is ‘n stand van sake waarna meeste individue streef. Wêreldwyd word hierdie nie vir die oorgrote mederheid behaal nie. In Suid-Afrika blyk die getal vir finansiële onafhanklikheid slegs 6% tot 10% te wees. Faktore soos die huidige ekonomiese klimaat, persoonlike eienskappe, gesindheid en gedrag word as bydraende faktore beskou. ‘n Poging word aangewend om die komplekse interaksie tussen finansies en sielkunde te ondersoek en dit deur middel van ‘n kommersiele produk, Moneymax Profile (MMP), en onderneem om wetenskaplike literatuur te gebruik om vas te stel wat se komponente van persoonlikheid, gesindheid en gedrag nodig is vir ‘n individu om finansiëel onafhanklik te kan wees. ‘n Ex post facto korrelasie navorsingsontwerp word in die kwantitatiewe navorsingstudie (n = 67) gebruik. Die Financial Independence Scale (FIScale) was vir die navorsing ontwikkel. Die konsep van optimale gesindheid en gedrag (OFAB) word voorgelê en word as volg gedefinieer: meetbare gesindheid en gedrag wat ‘n individu se waarskynlikheid vergroot om finansiele sekuriteit en onafhanklikheid te beleef. OFAB was gemeet deur subskale van persoonlikheidseienskappe (lokus van kontrole, Tipe A/B persoonlikheid, tydorienteering) en finansiële gedrag en gesindheid (byvoorbeeld begrotings, sosialegroepsdruk, finansiële disipline, beleggingsbestuur). Resultate wys dat lokus van kontrole, tydorienteering, begrotings optrek, sosialegroepsdruk, en beleggingsbestuur geldige metings van OFAB was. Die Moneymax trekke wat beduidend en matige verwantskappe het met OFAB was trots, emosienaliteit, sekerheid, tevredenheid, besteeding en vertroue. Die trekke van betrokkenheid, mag en risiko was beduidend maar die korrelasie was swak. Die oorblywende trekke van altruïsme, werksetiek, selfbeskikking en oordenking hou weinig statistiese waarde. Faktore wat bydra tot ‘n individu se finansiëlegedrag en huidige finansiëlestatus is opvoedkundevlak, onbeplande omstandighede en om andere te vertrou. Die gebrek aan psigometriese eienskappe van die MMP het die studie gekniehalter. Die dissiplines van die ekonomie en sielkunde word aangemoedig om geld en geldpersoonlikheid verder te verken.

Thesis (PhD (School of Public Management and Planning ))—University of Stellenbosch, 2009. / ENGLISH ABSTRACT: Since 1994, education and training in South Africa has experienced various changes, driven mainly by the Green Paper on Skills Development and the White Paper on Education which set objectives and outcomes and gave guidelines on how education and training should be approached, planned, and managed. The White Paper on Education necessitated change in SA tertiary institutions such as Stellenbosch University and its respective faculties. The Faculty of Military Science, which is situated at the South African Military Academy (SAMA) in Saldanha, accepted the challenge of contributing to the full personal development of students, by undertaking to shape people capable of organising and managing themselves and their human activities, including their financial activities, responsibly and effectively. The success of higher education institutions in empowering young people to be financially capable is questioned by various publications and surveys. Preliminary findings from surveys in 2004 and 2005 among students at the SAMA suggest that they are largely financially illiterate, thus potentially economically volatile. These findings introduce the research problem and serve as a foundation for the development of a scientific, socially relevant, valid and reliable financial literacy measurement instrument. A combined qualitative and quantitative research methodology is applied to develop a measurement instrument, which is then assessed for validity and reliability by applying it in a case study. The secondary objective of this research is the social study of the financial knowledge, financial behaviour and financial attitude levels of individuals. To ensure relevance between the case study and the measurement instrument, financial literacy is initially evaluated as a management competency. Financial literacy is stated as a key competency in the South African National Defence Force (SANDF). The financial literacy measurement instrument was constructed after an exploration of the contextual and conceptual nature of financial literacy. A questionnaire was selected as the ideal method of gathering the required information. The questionnaire’s validity and reliability were assessed as part of descriptive research in the development phase, as well as in the case study. The face and content validity were proven through input from respondents and subject experts. Reliability of the measurement instrument was assessed by calculating item difficulty, item discrimination, means, standard deviations and ultimately the internal consistency of the financial knowledge, behaviour and attitude sections of the measurement instrument. In the case study first-year students achieved an average of 50.17% for their financial knowledge although they rated their own knowledge levels to be 60.8%. The respondents struggled most with questions pertaining to investment, insurance, and inflation, and least with retirement and income and expenditure questions. This research underlines the importance of financial literacy as a management competency and its importance at a global, national, organisational and personal level. It produces a valid and reliable financial literacy measurement instrument that can be used by different stakeholders in South Africa to assess financial knowledge, behaviour and attitude, and thus indicate where intervention is required. Having a valid and reliable measurement instrument for measuring financial literacy creates opportunity for future research and development. / AFRIKAANSE OPSOMMING: Sedert 1994 het die opvoeding- en opleidingsteater in Suid-Afrika dramatiese veranderinge ondergaan met veral die die Groenskrif op Vaardigheidsontwikkeling en die Witskrif op Opvoeding, wat die doelwitte en uitkomste gestel het en die toon aangegee het in terme van hoe opvoeding en opleiding aangepak, beplan en bestuur behoort te word. Verandering genoodsaak deur die Witskrif op Opvoeding sou by assosiasie ook verandering noodsaak in SA tersiêre inrigtings soos Stellenbosch Universiteit en haar fakulteite. Die Fakulteit Krygskunde, gevestig by die Suid-Afrkaanse Millitêre Akademie (SAMA) in Saldanha, het die uitdaging aanvaar om by te dra tot die totale persoonlike ontwikkeling van studente deur te onderneem om mense te vorm wat in staat sal wees om hulself en hul aktiwiteite verantwoordelik en doeltreffend te bestuur, insluitend hul finansiële aktiwiteite. Hoër Onderwys se sukses met die bemagtiging van jong mense tot finansieel vaardige individue is deur verskeie navorsingsverslae bevraagteken. Voorlopige bevindinge van studies in 2004 en 2005 onder voograadse studente van die SAMA is dat hulle grootliks finansieel ongeletterd is en gevolglik ekonomies kwesbaar. Die bevindinge is die vertrekpunt van die probleemstelling vir hierdie studie, en vorm die basis vir die ontwikkeling van 'n wetenskaplik- en sosiaalrelevante, geldige en betroubare finansiële geletterdheidsmetingsinstrument. 'n Gekombineerde kwalitatiefkwantitatiewe navorsingsmetodologie is toegepas in die ontwikkeling van 'n metingsinstrument, en die verbandhoudende bepaling van sy geldigheid en betroubaarheid deur die toepassing daarvan in 'n gevallestudie. Die sekondêre doelwit van hierdie navorsing is die sosiale studie van die finansiële kennis-, finansiële gedrags- en finansiële houdingsvlakke van individue. Ten einde relevansie tussen die gevallestudie en die metingsinstrument te verseker, is finansiële geletterdheid aanvanklik as 'n bestuursvaardigheid geëvalueer. Finansiële geletterdheid word in die Suid-Afrikaanse Nasionale Weermag (SANW), as kernvaardigheid aangedui. Die finansiële geletterdheidsinstrument is gekonstrueer na 'n verkenning van die konteksuele en konsepsuele aard van finansiële geletterdheid. 'n Vraelys is geselekteer as die ideale metode om die relevante data te bekom. Die vraelys se geldigheid en betroubaarheid is as deel van deskriptiewe navorsing in die ontwikkelingsfase, en ook tydens die gevallestudie, bepaal. Die gesigs- en inhoudsgeldigheid is bevestig deur respondentterugvoer en vakspesialisinsette. Betroubaarheid van die metingsinstrument is bepaal deur die berekening van itemmoeilikheidsgraad, itemdiskriminasie, gemiddelde, standaardafwyking en uiteindelik interne betroubaarheid van die finansiële kennis-, gedrags- en houdingsafdelings van die metingsinstrument. In die gevallestudie, het eerstejaarstudente 'n gemiddeld van 50.17% vir die kennisfaktor behaal, alhoewel hulle hul eie kennisvlakke gemiddeld as 60.8% aangedui het. Respondente het hoofsaaklik gesukkel met kennisvrae wat handel oor beleggings, versekering en inflasie. Hul het die minste gesukkel met kennisvrae wat handel oor aftrede en inkomste en uitgawes. Hierdie navorsing bevestig die belangrikheid van finansiële geletterdheid as bestuursvaardigheid, asook op 'n globale, nasionale, organisatoriese en persoonlike vlak. Hierdie studie het 'n geldige en betroubare finansiële geletterdheidsmetingsinstrument opgelewer; een wat deur diverse finansiële geletterdheidsaandeelhouers in Suid-Afrika aangewend kan word. Hierdie metingsinstrument sal empiriese inligting oor finansiële kennis-, gedrags-, en houdingsvlakke genereer en aantoon waar intervensie benodig word. Die belangrikheid van finansiële geletterdheid, sowel as die noodsaak vir 'n geldige en geloofwaardige metingsinstrument, is geleenthede vir verdere navorsing en ontwikkeling.

This dissertation examines how European and American banking institutions catering to middle- and working-class people sought to mobilize their capital to challenge the predominant model of international financial capitalism during the interwar years. Focusing on four sets of financial institutions whose identities were intimately linked with the “popular” clientele they served—savings banks, cooperative banks, trade union banks, and their communist analogues—I chart how influential actors within these institutions engaged in transnational efforts to challenge the entrenched position of private banks in international finance, though in pursuit of divergent political and commercial objectives. Drawing upon politicized attitudes towards popular capital and motivated by the opportunities and pressures of post-World War I internationalism, they attempted to build parallel institutional channels that could mobilize the modest financial assets of the masses to compete with or even displace capitalist banking. This study reconstructs formal and informal networks of debate and activism in which savings bankers, cooperators, and labor activists developed projects for international financial action based on popular ownership and participation. To uncover these networks, I draw on an eclectic range of sources including national and international archives, periodicals produced by syndical, cooperative, communist, and savings bank movements, and private correspondence of American and European leaders in these movements. I argue for a more capacious understanding of the political valence of financialization in this period. Far from being accepted as a neutral outcome of economic development, lamented as a depoliticizing penetration of capitalist logic into the social life of the masses, or turned to narrowly nationalistic ends, popular financial ownership—whether by individuals or institutions claiming to represent them—was recognized as a foundation on which to enact transnational solidarity. However, the political content of this solidarity varied considerably between these projects of international popular finance. Some of them sought to moralize capitalism within liberal or fascist political structures, while others aimed to strengthen cooperative or socialist alternatives. My dissertation presents an institutional history of projects of popular financial power and their limits which will be of interest to scholars of modern Europe and the U.S., international institutions, transnationalism, and global capitalism. I also hope to offer historical perspective on ongoing debates about the potential for collective action by workers, consumers, and investors in our own financialized era.