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The role of government in promoting financial inclusion
The background of financial inclusion
Essay on financial inclusion
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The Concept of Financial Inclusion Defining financial inclusion is considered crucial from the viewpoint of developing a conceptual framework and identifying the underlying factors that lead to low level of access to the financial system. A review of literature suggests that there is no universally accepted definition of financial inclusion. As measuring inclusion is perceived to be difficult, financial inclusion is generally defined in terms of exclusion from the financial system. Early discussion on financial exclusion was preceded by social exclusion and focussed predominantly on the issue of geographical access to financial services, in particular banking outlets (Leyshon and Thrift, 1993). However, financial exclusion is not just about physical access caused by the changing topography of financial services. Therefore, the debate has now broadened to include all types of people who make little or no use of financial services and the processes of financial exclusion (Ford and Rowlingson, 1996; Kempson and Whyley, 1998). Definitional Aspects of Financial Inclusion/Exclusion Instit...
Marshall (2005) identifies that “financial inequality” is not the solitary cause of “social inequality”, but it is often related. She suggests education plays a significant role in ‘class stratification’. Marshall (2005: p1), Part 2:
Over the last two decades the Australian population has faced a number of economic instabilities that has seen the gap between the ‘haves’ and ‘have nots’ increase. To determine who the ‘haves’ and ‘have nots’ are an in-depth investigation will be performed examining the circumstances under which the gap can be manipulated. The economic wellbeing of individuals is largely determined by their command over economic resources (ABS, 2009). The wellbeing of individuals who are classified as ‘haves’ are usually people who are asset rich, contain bonds, shares and are fairly affluent. The wellbeing of individuals who are classified as ‘have nots’ are usually the working poor, who have little assets and little investments i.e. bonds. These individuals are usually middle income earners which are categorised as being in relative poverty. Relative poverty as defined by L. Kirkwood, I. Searle, T. Cronk, D. Cave and J. Swiericzuk as the situation of people whose income and lifestyle has fallen below, by more than a certain degree, the average income and lifestyle enjoyed by the rest of society.
It has no spending budget, since its purpose is to make recommendations to the contributory government departments, with a view to directing existing funding more effectively. The ‘socially’ excluded are understood to be a group outside ‘mainsteam society’. Sometimes they are thought as ‘outdide society’ itself. (Gordon and Townsend 2000). Similarly, the DSS report states that “social exclusion occurs where different factors combine to trap individuals and areas in a spiral of disadvantag... ...
Houston, D.M. (2007) ‘Women's social exclusion.’ In Abrams, D., Christian, J.N. and Gordon, D. (ed.) The Multidisciplinary Handbook of Social Exclusion Research. Wiley: Chichester, pp. 17-28.
school placement (Gabel & Danforth, 2008, p.42). An approach to inclusion that The United States maintains is that the educational settings are based on each child’s individual case.
In conclusion everyone at some point in their lives may be at rick of and vulnerable to poverty. Although the Government has introduced Universal Credit people are still trapped in poverty and reliant on benefits. Vulnerable groups turn to benefits for answers but rarely find them. Life on benefits has become more acceptable and in fact a way of life. This attitude will be pasted down through generations and seen as 'normal' to rely on the state. As each stage of the Universal credit is introduced it will give a clearer picture as to whether this will tackle poverty or push people further into poverty trapping them on benefits.
Inclusion in the classroom is a topic that I did not fully understand when I first became a special education teacher. Studying inclusion and all the aspect that it encompasses has enlighten me to the complexities of inclusion in the classroom. Inclusion has expanded to every facet of school activities outside the classroom. I am going on my fifth year of being a special education teacher and continuously find the need for additional education and training among the staff and administration. I feel having a comprehensive understanding has made me a better educator and advocate for children with disabilities.
Inclusion is about involving people and placing them at the centre of any planning or support. It is valuing diversity and all the advantages it brings.
Poverty is a situation in which it becomes difficult for a person to meet his basic needs sufficiently. A person living in poverty is deprived of adequate food, clothing and shelter which are the most essential necessities of human beings. It is a state in which consumption of these essential necessities becomes difficult. Poverty in general is very difficult to define as it is a very broad term. According to the World Bank “poverty is pronounced deprivation in well-being, and comprises many dimensions. It includes low incomes and the inability to acquire the basic goods and services necessary for survival with dignity. Poverty also encompasses low levels of health and education, poor access to clean water
Parents may not feel comfortable enough with their own financial situation to discuss personal finance with their children (Williams, 2009). Additionally, the parents, or other influencers, may not have a full grasp of certain concepts of financial literacy. In an article by Carlin and Robinson (2010) it was noted that “many retirement-age adults lack the financial literacy to understand the basic features of their retirement plans.” Financial literacy through socialization and practice may not be enough for students; whether it be “disadvantaged” youths who often lack a high quality of life at home, or youths whose parents have stable jobs with retirement
Inclusion is about ensuring that the rights of all children are met, so that they can actively engage in education within their community. Uditsky (1993) extends on this sentiment, noting the importance that students with additional needs are a welcomed and valued member within the setting. In order for children’s rights to be met, the setting must ensure that the child with additional needs has equal access to all things that their peers have access to.... ... middle of paper ... ...
There are millions of children that are passing through the United States school system every day, not all children possess the same traits, and not all children can learn at the same rate, and do not perform at the same ability. The fact that all children learn differently and some have difficulties learning in general classrooms, special education was put into place to try and take care of these issues. Special education programs were put into place to help all students with disabilities. These children range from general disabilities to more complex and severe disabilities. There has been a revolution occurring in the past several years with education systems, and special education. There have now been several laws that have been passed that mandate changes in special education and the treatment that children, and parents receive, it also changes how the children are being taught, and how the teachers are to also change and conform to this idea called inclusion. Inclusion in the school system simply is stating that children who have learning disabilities, and more severe disabilities are to be included in the general education environment for as long as possible daily. There has been several different names other than inclusion that have been used, but in present times and since the 1990’s inclusion has been the most common term used. “The change in terminology was pushed in part by the philosophy that inclusion would mean more than only physical placement of children with disabilities in the same classroom, but rather it conveyed that children with disabilities would become a part of larger social, community, and societal systems” (Odom, Buysse, & Soukakou, 2011, para. 3). There has not been just one major law that was passed...
My definition of inclusion is “that equality and equity is the right of every student no matter what the barriers exist to meaningful learning. All barriers require removal to allow access, for all, to the Australian curriculum content irrespective of the structural or economic adjustments that this necessitates. Inclusion does not necessarily provide guaranteed outcomes but is grounded on the concept of equal opportunity for all.”
In particular, low-income people may have a lack of awareness about or distrust in banks and other financial institutions (Birkenmaier and Curley 2009). Therefore, communicating to them the advantages of using traditional banking versus using alternative banking services may help them to understand how to more effectively meet their banking needs (Robbins, 2013). Since many low income persons live paycheck to paycheck, acquiring a checking account could be an investment towards financial stability. Nearly 10 million households in the United States are unbanked and low income and minority families are disproportionately among the unbanked (U.S Department of the Treasury, 2008). Additionally, low-income families usually pay more for minimum financial services and have poor credit history, which prevents them from being able to rent affordable decent housing, or buying a reliable car on credit (Robbins, 2013; Jacob, 2000; Valley of Sun United Way,
Financial literacy: Financial literacy refers to the ability to understand how money works in the market world and how a contributor manages to earn it or spend it, how to track it, how to invest it (turn it into more) and how that person shares it to help others.