Family Financial Literacy and Preparedness for Household Income Loss: A Qualitative Study

Economic uncertainty and the potential loss of income can threaten household financial stability. Financial literacy may help families anticipate these risks and manage their resources effectively. This proposed qualitative study aims to explore adults’ understanding of family financial literacy and the strategies they use to manage household finances during periods of income uncertainty, particularly following a loss of income. The study will involve 30 male and female participants aged 35–45 years. Data will be collected to examine participants’ financial knowledge, understanding, and management practices, then analyzed qualitatively to identify recurring patterns relevant to household financial preparedness. The study is expected to highlight the role of budget planning, expenditure management, emergency savings, and adaptive financial strategies in reducing families’ vulnerability to income loss. Its findings may inform the development of family financial literacy programs that respond to community needs and help households prepare for unexpected financial disruptions.