Financial Literacy: Building Economic Empowerment with Survivors of Violence

Abstract

The purpose of this paper is to outline key constructs including financial literacy, economic self-efficacy, economic self-sufficiency, and economic empowerment, and then present findings from an exploratory study that sought to understand the relationship among these variables in a sample of abused women. The results revealed positive and significant relationships between financial literacy with economic empowerment, economic self-efficacy and economic-self sufficiency. Results also indicated that financial literacy, race, and economic self-sufficiency were significant predictors of economic empowerment. By focusing this research on abused women, it is our intention to raise awareness about the importance of financial literacy curricula with advocates, policy-makers and researchers, so more focus can be given to economically empowering IPV survivors.

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Notes

  1. 1.

    We specifically talk about violence against women in this paper since women disproportionately represent victims and males as perpetrators of physical, sexual, and other forms of violence. Hence, we will refer to victims as female and perpetrators as males. This in no way diminishes the experiences of male victims nor absolves females of violence they might inflict upon males or other females.

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Acknowledgments

This project was supported by The Allstate Foundation, Economics Against Abuse Program. Points of view in this document are those of the authors and do not necessarily represent the official position or policies of The Allstate Foundation. The authors would also like to acknowledge our collaboration with Rene Renick and Kim Pentico from the National Network to End Domestic Violence and their partnership with The Allstate Foundation in creating and implementing this financial literacy curriculum.

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Correspondence to Judy L. Postmus.

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Postmus, J.L., Plummer, SB., McMahon, S. et al. Financial Literacy: Building Economic Empowerment with Survivors of Violence. J Fam Econ Iss 34, 275–284 (2013). https://doi.org/10.1007/s10834-012-9330-3

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Keywords

  • Economic empowerment
  • Financial literacy
  • Intimate partner violence