abstract: 'Financial capability is generally conceptualized as the ability and the

  opportunity to save, borrow, and invest money in the mainstream economy.

  But, many families struggle with finding work, saving money, and

  accessing credit. Thus, it is important to build families'' financial

  capability to enhance their well-being in an economy in which low

  incomes and unstable employment are becoming commonplace and families

  are having to make do with less. In order to better understand how to

  support families'' financial capability, this study elicited perspectives

  on barriers to and enhancers of financial capability through an online

  survey and in-depth interview with 32 parents of kindergarten children

  from a mid-sized, Midwestern city. Some parents identified raising young

  children as a barrier to aspects of their financial capability, and to

  care for their children many parents were making tradeoffs between

  working, paying for childcare, and related money management matters.

  Parents'' also reported barriers to finding paid work, earning adequate

  and stable income, and saving money. In addition to children

  transitioning to adulthood, some parents believed that having better

  employment opportunities, earning more income, better money management

  strategies, lower health insurance premiums, and completing higher

  education might enhance their financial capability. Theory, and policy

  considerations are discussed, and emphasize incorporating

  income-generating work in conceptualizing financial capability, and

  opportunities to support families with young children by creating steady

  well-paying secure jobs, providing universal low- or no cost childcare,

  and shoring up safety net programs.'
affiliation: 'Banerjee, MM (Corresponding Author), Univ Kansas, Sch Social Welf, 121
  Twente Hall,1545 Lilac Lane, Lawrence, KS 66045 USA.

  Banerjee, Mahasweta M.; Friedline, Terri, Univ Kansas, Sch Social Welf, 121 Twente
  Hall,1545 Lilac Lane, Lawrence, KS 66045 USA.

  Phipps, Barbara J., Univ Kansas, Sch Educ, Curriculum \& Teaching, Lawrence, KS
  66045 USA.'
author: Banerjee, Mahasweta M. and Friedline, Terri and Phipps, Barbara J.
author-email: mahaswetab@ku.edu
author_list:
- family: Banerjee
  given: Mahasweta M.
- family: Friedline
  given: Terri
- family: Phipps
  given: Barbara J.
da: '2023-09-28'
doi: 10.1016/j.childyouth.2017.08.009
eissn: 1873-7765
files: []
issn: 0190-7409
journal: CHILDREN AND YOUTH SERVICES REVIEW
keywords: Financial capability; Parents; Children; Poverty; Employment
keywords-plus: SAVINGS; CHILDREN
language: English
month: OCT
number-of-cited-references: '45'
pages: 178-187
papis_id: 7fc7e68bab9548dd665d62082c11208c
ref: Banerjee2017financialcapability
times-cited: '5'
title: Financial capability of parents of kindergarteners
type: Article
unique-id: WOS:000412616400020
usage-count-last-180-days: '1'
usage-count-since-2013: '16'
volume: '81'
web-of-science-categories: Family Studies; Social Work
year: '2017'