The Nexus Between Financial Worry and Emergency Funds: Evidence Between High-Income Western Europe and Low-Income Sub-Saharan Africa

Date

6-2025

Degree

Bachelor of Science in Economics

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Maria Luisa G. Valera

Committee Member

Aaron T. Castillo, Gideon P. Carnaje, Maria Angeles O. Catelo

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Abstract

Financial worry is the persistent concern of not being able to meet current or future expenses, reflecting how unprepared many individuals are for financial shocks. As it increasingly affects behavior, health, and economic stability, addressing it has become a pressing priority for research and policy. This study examines what drives financial worry in high-income Western European (HIWE) and low-income Sub-Saharan African (LISSA) economies, with a focus on emergency fund access using the 2021 Global Findex Database. Based on the logistic regressions results, the strongest predictor across both regions is the ability to access emergency funds. Those who rely on savings worry less, while those who depend on social networks, loans, or asset sales have higher financial worry. Women, individuals aged 35–55, lower-income families, and those lacking higher education also report higher financial worry. The findings suggest that improving access to savings, expanding financial literacy, and strengthening safety nets can reduce financial worry. Policies should focus on supporting women, informal workers, and low-income groups who face the highest financial vulnerability.

Language

English

LC Subject

Financial literacy, Income distribution

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993.5 2025 E2 D39

Notes

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Document Type

Thesis

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