From financial inclusion to financial health

To successfully manage their financial obligations and have confidence in their financial future (financial health) people need to access and use financial services (financial inclusion). Yet inclusion alone may not be sufficient: financial health can suffer if the quality of use of financial servic...

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Bibliographic Details
Published in:Policy File 2024
Main Authors: Cantú, Carlos, Frost, Jon, Goel, Tirupam, Jermy Prenio
Format: Report
Language:English
Subjects:
Finance
Financial inclusion
Financial services
Online Access:Request full text
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Summary:To successfully manage their financial obligations and have confidence in their financial future (financial health) people need to access and use financial services (financial inclusion). Yet inclusion alone may not be sufficient: financial health can suffer if the quality of use of financial services is poor (eg issues with provision such as scams or a lack of financial literacy and know-how on the part of the consumers). Public policy can boost financial health by promoting financial consumer protection, advancing financial literacy and enacting foundational policies like sound regulation and open finance.