Surviving Personal Financial Strain Amid Covid-19 Outbreak: A Conceptual Review of South African Context

Acta Universitatis Danubius: Oeconomica

Ravinder Rena¹  Lydia Ugochi Ifeanyichukwu¹  Ifeanyi Mbukanma² 

[1] North-WestUniversity,RepublicofSouthAfrica,;North-West University, Republic of South Africa, ;

关键词: covid-19 outbreak;    personal finance;    financial strain;    financial control;   

DOI  :  

来源: DOAJ

【 摘 要 】

Objective:Theobjectiveofthisstudywastorevealspecificfinancialsurvivalstrategies thatwouldcushionthefinancialcontrolandmanagementcapabilitiesofSouthAfricansasthe infectionrateofCovid-19rises.Approach:Theprinciplesofpersonalfinancialcontrolthatfitsthe South African context was reviewed and conceptualized. In addition, the latest research on Covid-19 infection,aswellasfindingsintheareaofpersonalfinancialcontrolandmanagement,wasalso reviewed to uncover personal financial survival strategies. Result: The findings of this study provide an impetus to recommend that the knowledge of personal financial control strategies such as financial literacy, personal financial discipline and knowledge of social external variables are needed by South Africans to survive the personal financial strain caused by Covid-19 outbreak. Implication: Financial literacyeminentandshouldbepromotedmoreinthehouseholdandworkplacestoprovidepeople withtherightfinancialknowledgeforthemtomakeinformedfinancialdecisions.Valuesand Recommendations: The personal financial survival framework as presented in figure 1, is recommendedtobeconsideredwhenformulatingpersonalfinancialeducationprogrammesand campaigns as theframework highlights cure personal financial survival variables.

【 授权许可】

Unknown