Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness
Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial st...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Wollongong
2013-09-01
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| Series: | Australasian Accounting, Business and Finance Journal |
| Subjects: | |
| Online Access: | http://ro.uow.edu.au/aabfj/vol7/iss3/3 |
| _version_ | 1818292341329362944 |
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| author | Adam Steen David MacKenzie |
| author_facet | Adam Steen David MacKenzie |
| author_sort | Adam Steen |
| collection | DOAJ |
| description | Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial
stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well
understood, but there is limited research on the link between financial stress, financial literacy and
counselling, and homelessness. Specifically, there has been little research on how improved financial literacy
and appropriate financial counselling might help to prevent homelessness.
This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress
model of Hill (1958) using data from an Australian program aimed at alleviating family homelessness, the
Home Advice Program. We provide evidence that suggests that case management and support which
incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress
and help those at risk of homelessness. The findings have implications for public policy in the areas of financial
education, consumer finance, and social services provision. |
| first_indexed | 2024-12-13T02:58:25Z |
| format | Article |
| id | doaj.art-c289778eb88e417389b7514ce3382db3 |
| institution | Directory Open Access Journal |
| issn | 1834-2000 1834-2019 |
| language | English |
| last_indexed | 2024-12-13T02:58:25Z |
| publishDate | 2013-09-01 |
| publisher | University of Wollongong |
| record_format | Article |
| series | Australasian Accounting, Business and Finance Journal |
| spelling | doaj.art-c289778eb88e417389b7514ce3382db32022-12-22T00:01:55ZengUniversity of WollongongAustralasian Accounting, Business and Finance Journal1834-20001834-20192013-09-01733148http://dx.doi.org/10.14453/aabfj.v7i3.3Financial Stress, Financial Literacy, Counselling and the Risk of HomelessnessAdam Steen0David MacKenzie1Swinburne University of TechnologySwinburne University of TechnologyPoor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might help to prevent homelessness. This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress model of Hill (1958) using data from an Australian program aimed at alleviating family homelessness, the Home Advice Program. We provide evidence that suggests that case management and support which incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress and help those at risk of homelessness. The findings have implications for public policy in the areas of financial education, consumer finance, and social services provision.http://ro.uow.edu.au/aabfj/vol7/iss3/3Financial stressFinancial literacyHomelessness |
| spellingShingle | Adam Steen David MacKenzie Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness Australasian Accounting, Business and Finance Journal Financial stress Financial literacy Homelessness |
| title | Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness |
| title_full | Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness |
| title_fullStr | Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness |
| title_full_unstemmed | Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness |
| title_short | Financial Stress, Financial Literacy, Counselling and the Risk of Homelessness |
| title_sort | financial stress financial literacy counselling and the risk of homelessness |
| topic | Financial stress Financial literacy Homelessness |
| url | http://ro.uow.edu.au/aabfj/vol7/iss3/3 |
| work_keys_str_mv | AT adamsteen financialstressfinancialliteracycounsellingandtheriskofhomelessness AT davidmackenzie financialstressfinancialliteracycounsellingandtheriskofhomelessness |