Financial literacy and women empowerment
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Date
2016-06
Authors
Anyikwa, B.E.
Okebiorun, J.O.
Sheidu, K.O.
Journal Title
Journal ISSN
Volume Title
Publisher
Journal of the department of Adult and Non-formal education, University of Benin, Benin City
Abstract
The relationship between financial literacy and women empowerment has received a great deal of attention throughout the modern history of literacy and women. This can be traced to the work ofGachuka (2004), who argued that women of all age.' are still left behind in the area of basic literacy. Building on the work of Gachuka, Egunjobi (2005) pointed out that women economic empowerment is low in Nigeria compared to their male counterparts. She explained further that many women still live on menial job and that. most jobs performed by women do not have economic values. Recent research (World Bank, 2001) indicates that gender inequalities in developing countries inhibit women (empowerment) and economic growth The national literacy ratefor women is only 56% compared to 72%for male. Low education coupled with poverty has been variously argued to be one of the major constraints to women empowerment. There are growing numbers of studies analysing the effect of literacy 011 WO;i ell empowerment. In most cases, their conclusion is that literacy stimulates women empowerment. 171e theories in the
finance and education literature suggest that education (literacy) reduces the disincentive to entrepreneurship, at the same time give women a sense of belonging and opportunity to contribute to the growth and development of the economy. Financial literacy is the ability to spend, save and manage household income in an effective .vay in order to lift women. and their families out of poverty. 171eabsence of jtnancial lueracy can lead to making poor financial decisions that can have adverse effects 011 the financial health of an individual. Financial literacy according to Valerie-Jarrett (2011) influences savings and investment and ensures efficient allocation 0 resources.
Description
Staff publications
Keywords
Financial literacy , Women empowerment , Literacy , Economic values , Research Subject Categories::SOCIAL SCIENCES::Social sciences::Education
Citation
Anyikwa, B.E. Okebiorun, J.O. & Sheidu, K.O. (2016). Financial literacy and women empowerment. Nigerian Journal of Adult and Lifelong Learning, 3(1), 17-27.