Self-coping mechanism of single mothers to achieve financial security in life
Financial security from the consumer perspective is linked to the level of savings, the ability of individuals to meet an emergency, the adequacy of financial resources in retirement and the availability of income. Stress occurs when the individual is faced with a higher demand that exceeds the in...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
International Journal of Children, Women, Elderly and Disable People
2018
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/62232/ http://irep.iium.edu.my/62232/ http://irep.iium.edu.my/62232/1/IJCWED3_28.pdf |
| Summary: | Financial security from the consumer perspective is linked to the level of savings, the ability of individuals to meet an
emergency, the adequacy of financial resources in retirement and the availability of income. Stress occurs when the
individual is faced with a higher demand that exceeds the individual financial resources. The stressor event such as loss of
spouse, divorce, disability of spouse also might lead to the financial strains. Thus, from health and psychological aspect of
self-coping mechanism, it is how the individual’s effort to manage financial strains. This study focused on the self-coping
mechanism of single mothers and their contingency strategies to achieve financial security. The relationship between selfcoping
mechanisms and financial security provide better understanding on cognitive, financial and behavior of single
mothers. The significant positive relationship between self-coping mechanisms and financial security indicated that selfcoping
mechanisms are compensatory coping in which individuals adopt a problem-focused approach in facing stressor
events. The academic research, especially consumer science researchers and non-profit organization could incorporate these
elements of social support to encourage positive self-coping mechanism among single mother in order to achieve better
financial security. |
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