Importance of Financial Literacy Among Nurses: a Qualitative Descriptive Inquiry
Year: 2024
Type: article
Abstract: Financial literacy is the ability to understand and effectively use various financial skills, including budgeting, investing, and managing personal finances. For professionals like nurses, who often face the dual burden of providing for their families while navigating financial challenges in their personal lives, financial literacy is essential. This study explored the importance of financial literacy among nurses, highlighting its influence on their professional and personal lives. Employing a qualitative descriptive design, the research captured the experiences of 12 Overseas Filipino Workers (OFWs) and migrant nurses from various Middle Eastern healthcare institutions. Thematic analysis revealed four key themes: Empowering Personal Financial Management, Enhancing Professional Productivity, Planning for Long-Term Security and Promoting Holistic Well-Being. Findings underscore the critical role of financial literacy in enabling nurses to navigate financial challenges, achieve stability, and foster professional growth. Furthermore, financial literacy was linked to better mental health, improved job performance, and long-term security. The study recommends tailored financial education programs to empower nurses in managing their finances effectively, thereby enhancing their overall well-being and career satisfaction.
Authors: Aguas, Jennilyn, Jasareno, Emmylou, Karia, Anna Cecilia Margarita, Victoria, Maryrose, Blas, Ria, Bibandor, Bunny Jean, Yap, Mildred, Ganipes, Rhonalyn, Argosino, Karen Michelle, Castro, Marifil
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6930610596
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