#SocioeconomicStatus

[chaoticstudentdinosaur]

How Socioeconomic status affect Financial Literacy

WHAT IS FINANCIAL LITERACY?

Financial Literacy is the ability and capacity to understand financial management and skills concerning financial matters and the factors affecting our overall economic well-being. Financial literacy can be defined as the activity of decision-making processes on the financial issues and outcomes it generates. According to the American Psychological Association (APA) Dictionary of Psychology, socioeconomic status is the position of a person or group of people on the socioeconomic scale determined by social and economic factors like education, occupation, income, place of residence, and many more.

Based on the results from the Program for International Student Assessment (PISA) last 2012, there is a very strong link between socioeconomic status and the financial literacy of a person. If the person has a high socioeconomic status, they do better in financial literacy. The Philippines belongs to countries with low financial literacy worldwide. Based on the survey of Stand and Poor's Global Rating, our country stands as one of the 30 least financially literate countries with only 25% of Filipino adults aware of the basics of managing money.

The governor of Banko Sentral ng Pilipinas (BSP), Benjamin Diokno, said that financial literacy needs to further improve as Filipinos' financial literacy level remains incredibly low. According to a statement by BSP, only 2%, or three out of seven financial literacy questions, have been answered correctly by Filipino adults, covering the basics of financial management

Due to low financial literacy in our country, one in every 100 Filipinos has been victimized by illegal investment, investing funds in inappropriate products, and investment scams, amounting to a total loss of over 25 billion pesos. Furthermore, according to research commissioned by the Amsterdam fintech back office and conducted by Forrester Consulting, the Philippines is placed on a stress watch list. The research revealed that 7 out of 10 citizens were battling with debt.

[ikno-io]

Explore the multi-faceted causes of teenage pregnancy, including socio-economic factors, lack of education, family dynamics, and media influence, and learn how these contribute to the increasing rates. read the full article: https://bit.ly/4flvRWb #teenagepregnancy #sexualeducation #healthcare #family #socioeconomicstatus read more: causes of teenage pregnancy

[maryannauger]

The food we eat can have an impact on our health but facing discrimination and our social determinants of health greatly affect our

1. Access to food

2. Access to nutrient dense food

3. Access to clean water

4. Access to a livable income

5. Access to health care

6. Environment (pollution)

7. etc

These factors have a greater impact on our health. Eating blueberries won’t fix the fact that someone is trying to provide for their family but can’t afford to pay their rent and might be kicked out of their apartment at any point.

It won’t fix the health issues that come from discrimination when going to see the doctor. That is, if the person even has access to a doctor.

Yes, nutrition and exercise can affect our health but - contrary to what we are told - they are not the most important factors when it comes to our health.

Also, health is multifaceted and looks different for everyone.

This ideal “health” we hear about all the time in the media is based on a thin white body and is rooted in racism, sexism, fatphobia, healthism, classism and ableism.

Lately, I’ve been asking myself these questions:

What is health?

If I have an autoimmune disease but I’m in recovery, am I healthy?

If I have digestive issues but everything else is “ok” am I still healthy?

If I suffer from depression but my health markers are good, am I healthy?

If my health markers are good but I suffer from chronic pain, am I healthy?

I don’t think there is one single way to be healthy. Health is different for everyone and the messaging we get around this ideal “health” can be detrimental by encouraging disordered behaviours around food and exercise and encouraging feelings of shame when we don’t meet the standard of health.

What does health mean to you?

#Uniquelyhealthy

[mizamour]

This book is about two friends, Sofia and Maddi, who love to play together, with Maddi helping Sofia with her soccer skills - but when Sofia goes to Maddi's house for a snack and sees only a bottle of milk in her fridge, she gets worried. Maddi asks Sofia not to tell, so Sofia instead tries to bring Maddi food in her backpack, resulting in some gross and silly mishaps like trying to bring fish and raw eggs, but when she brings a burrito, which does last the trip in the backpack but is only a temporary solution, she realizes she needs to break her promise and tell her mom - after which the family brings food over (not in a condescending way at all, but as gesture of friendship) and the moms become friends, while Maddi is initially hurt by the broken promise but heartened when Sofia agrees that "Promises are important," but tells her friend "But you're more important." I like that, anti-stereotypically, Sofia, the wealthier student, is Hispanic, while Maddi, with lower socioeconomic-status, is white. Also, Maddi is portrayed not as a person to be pitied or othered, but as a girl just like anyone else - a loving big sister who is great at soccer, helps her friends, and loves her family. #socioemotionallearning #socialemotionallearning #sel #socioeconomicstatus #raisingkindkids #weneeddiversebooks #diversekidlit #diversechildrensliterature #friendshipbooks #childrenwhoread #diversifybookstagram #diverseperspectives https://www.instagram.com/p/CCBZ2NuA7Vz/?igshid=t03tzag66vqt

[tnargrant]

Life is nuanced, and one's socioeconomic status is no different. It's easy to point the finger at others, but it's far more difficult to accept that sometimes— sometimes part of the blame may be on you. #poverty #socioeconomicstatus #ses #cycleofescapism #financialliteracy #investing #takingaccountability #selfefficacy #confirmationbias #consumerism #echochamber #breakthecycle #escapism #ragstoriches #breaktheloop #privilege #actyourwage https://www.instagram.com/p/Ca5Pg13Pdb3/?utm_medium=tumblr

[socialclassissues]

Conclusion (5/5)

My 4 previous blog posts have given a sliver of the unfortunate inequality that exists between social classes. What is even more unfortunate is that this all falls into a horrible chain reaction. Coming from a family with a low SES, don’t always get the opportunities that other children get. For example, they often don’t get to participate in sports or physical activities the same way that other children do, if at all.  The hardship doesn’t end there, it has barely started. In addition to not being able to play sports and getting to participate in physical activities like children need to, coming from a low social class family can make it hard to succeed in school and can prevent students from getting a degree. Sometimes there is even a struggle to obtain a high school diploma. Without higher education, finding a job becomes increasingly difficult. Without a job, (or a well-paying job), providing for a family then becomes hard and puts you and your own family in the lower class, which will result in your children having the same hardships that you had growing up because you came from a low class family. This cycle seems to be on a never-ending loop. One can only hope that a solution for this social class inequality is soon found and this vicious cycle is broken.

[224]

[zitases]

The foundation support is planning on a WASH Project in Nigeria. The access to healthy and safe water, adequate sanitation, and improved hygiene has been a thing of great concern in Africa. The WASH program works on long-term prevention and control measures for improving health, reducing poverty, and improving socio-economic development as well as responding to global emergencies and outbreaks of life-threatening illnesses.. By all means to see a reduction on airborne diseases and the reduction in the spread of infections in the community is an important part of the charity foundation mission. #health #safetyfirst #Zitases #washproject #empower #sustainablity #cleanwater #sanitation #hygiene #improvedhealth #povertyeradication #socioeconomicstatus #globalhealth #healthequity #healthyliving #healthandwellbeing (at Nigeria, Africa) https://www.instagram.com/p/CSwijZfj3-w/?utm_medium=tumblr

[ritware1850]

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A post shared by Robert W. Hardy (@tephlon_don3)

Reposted from @theblackdetour Follow @theblackdetour and visit theblackdetour.com for the latest in Black news, history and culture #poorpeople #povertyline #lowincome #everydaystruggle #BlackAmerica #Blackcommunity #dlhughley #blackexperience #blackvoices #lowermiddleclass #middleclass #upwardmobility #gentrification #fightfor15 #socioeconomicstatus #PoorPeoplesCampaign #minimumwage #theblackdetour #help #tictok #radio https://www.instagram.com/p/CQhydU2DNdC/?utm_medium=tumblr

[mctyndall-blog]

So my mind likes to overthink and overanalyze... I am curious how checking off some different boxes could actually help change the brain and help change core beliefs #race #gender #socioeconomicstatus #conditioning #changeyourfilter #changeyourmind #changeyourbeliefs #corebeliefs #chooseyourfocus #refocus #selfactualize #selfawareness #human #kind #humble #compassionate #iamnotarobot #grateful #mctyndall (at San Francisco, California) https://www.instagram.com/p/CBl37-OFRjm/?igshid=dujm7omj83yw

[chaoticstudentdinosaur]

JOIN OUR ADVOCACY!

[thenoelcollective]

Observing #minoritymentalhealthmonth : #peopleofcolor often face #cultural and #structural barriers to accessing #mentalhealth services #multiracial and #sdoh #bebemoorecampbell #socialdeterminantsofhealth #ses #socioeconomicstatus #BettermentThroughAppliedKnowledge https://www.instagram.com/p/B0SJo9hJMUA/?igshid=11wsqm3vl2xvi

[metalheadsforblacklivesmatter]

https://vm.tiktok.com/ZMeRC7xqR/

[Video description: a remix of "The Greatest Show" from "The Greatest Showman" in the background]

[Text on screen.

I got diagnosed! I'm not lazy or bad, I just have a chemical imbalance!

I'm going to study neuroscience so I can help fix people's chemical imbalances!

Got my bachelor's... it's way more complicated than an "imbalance"

I'll get a master's and do my thesis on depression

Wow. Childhood adversity really effects mental health...

So does socioeconomic status and systematic racism and sexism...

... there's no way to make a big change in the world's mental health...

Without addressing major systemic issues across the world

End of video]

Socioeconomic status, racism, sexism, abelism, etc play into mental health issues, and treating it like just a chemical imbalance is invalidating to people that would benefit from fixing the broken system.

That's not to say it can't just be a chemical imbalance. It absolutely can be.

But I won't have you acting like someone whose depression is caused by the racism, sexism, homophobia etc that they've experienced is invalid.

If you gatekeep the mental health community I'm taking your fucking kneecaps.

-fae

[whitechnoleg]

Orwellian class systems, courtesy of Zuck: a recent @facebook patent would try and detect users' socioeconomic status from various data // sources. cbi.vc/2CeGA6c #facebook #datascience #socioeconomicstatus #patents #machinelearning

[sociopplwatcher]

Social Stratification knowing how social class affects you.

When you hear the term social class you probably think of lower, middle and upper class. They have become the common indicators of where we fall within a society based on our wealth and income. Nowadays there are several models and categories to assign someone's social class position. I choose to utilize the Gilbert-Kahl Model since it shows the occupations that usually rank there, approximate wealth and roughly what percent of the population fits in each category. But, there’s much more to how sociologists evaluate the differences in social classes.

Defining the difference between wealth and income

Let’s define the difference between wealth and income since they help differentiate between inequalities amongst some of the social classes.Although they work aside each other they are different.Income doesn’t yield a return the way wealth does.You can have income and little to no wealth but in most cases, you can’t have wealth without a decent income to obtain it. It also is one way the wealthy are able to stay wealthy as investments yield return and can continue to grow.The wealthy tend to spend less and invest more while the income of other classes tends to be spent getting buy and surviving with little ability to move ahead.

Wealth is a person's net worth overall including all assets minus any of their liabilities and owed debts. Wealth is built up generally over a certain time frame, generally the course of one's lifetime. This includes savings, investment accounts, stocks, bonds, and property including your house, land, and vehicle.

Income, on the other hand, is more immediate. This is what’s earned for profit. It can come in the form of wages from a job, government assistance, or rental properties. It is more “free-flowing” and continually moving, it can, however, last for a short time rather than continual. Examples of this can be seen with job loss and more debt then income scenarios. 

Social Stratification exists in many societies and has all throughout history. The difference, however, was based on the social characteristics of that society and wealth was variable by different forms of hierarchy systems. The effects of these rankings today can be seen in a wide variety of ways. These system rankings placed on us by society sets us up for different life chances from the beginning.

The wealthy often have access to better schools, health care, tend to live longer and children tend to have higher wealth like the family they were raised in. Lower class and poverty-stricken families, however, don’t have access to great schools, may not have access to health care at all, don’t live as long and often are associated with higher crime rates. 

Social Mobility doesn’t mean we will be stuck forever! We do have some degree of mobility within the system. 

The good news however, is not all hope is lost. The bad news is for most of us we have little social mobility as far as going upward very much and some of us we will stay stuck as the wealth disparities continue to grow further apart between lower classes and the wealthy. Despite hard work and the American dream many will continue to struggle due to this balance of inequality. 

Most of our mobility will be done horizontally as a group or individually:

This would include things like an employee changing jobs, keeping the same title, but at a new location or a job change of equal skill set. The status is the same though. Converting to a new religion or moving to a new town, are also included in horizontal mobility.

Vertical mobility is the rise or fall between groups. This can be felt ascending or descending. This could be moving up in class due to a lottery win and good investing or going down in social class after losing your job and ending up homeless. 

Both sets of mobility can be affected by the economy. Structural Mobility will be felt most on the individual level. It effects everyone due to the changes in the economy. The depression, housing bust, and other large-scale economic issues come in to play. As debt keeps rising for the middle class so does the lack of upward mobility. The wealthy are able to stay wealthy because changes don't affect them as much due to their wealth that's available.

What affects social mobility and creates more inequality?

As the industrialization age began and technology continued to advance more disparities began to appear. 

Globalization formed enhancing the rise of trade and goods that could be produced and shipped globally. This required migrant labor and produced multinational businesses. This was the beginning of how wealth and inequality began forming social economically with varying degrees of difference.

 Since the United States is founded on the American dream we have to take into account inconsistencies. Education, Income, and occupational prestige have a huge part in social economic status. Those who have all three items tend to generally be better off financially. However, there are other factors to keep in mind when thinking sociologically like how racism, bigotry, and misogyny all play a part in fueling these differences as well as our choices and sacrifices towards our own personal progression.

Sources:

Conley, D. (2017). You may ask yourself: an introduction to thinking like a sociologist. New York: W.W. Norton.

Robert Kiyosaki- Philosophy of the Rich [Digital image]. (2015, March 19). Retrieved December 8, 2017, from https://thefranklinsociety.com/how-to-become-rich/

Sills, S. J., Dr. (n.d.). G Robert Kiyosaki- Philosophy of the Rich [Digital image]. (2015, March 19). Retrieved December 8, 2017, from https://thefranklinsociety.com/how-to-become-rich/ ilbert-Kahl Model of the Class Structure [Digital image]. Retrieved December 8, 2017, from https://uncgsoc101.wordpress.com/module-6-social-stratification/ 

 Solomon, M. R. (2015). Social Mobility [Digital image]. Retrieved December 8, 2017, from http://slideplayer.com/slide/4728773/15/images/18/Social Mobility Social Mobility: Horizontal Mobility:.jpg

[healthandhiphopp-blog]

#BasedGod #BasedGod #BasedGod #BasedGod #BasedGod #BasedGod Lil B is another rapper who has been talked about with regard to autism because of his unique rapping ability. Most of his songs are str8 off the top freestyles & he's recorded thousands of songs pointing to that genius ability 10% of people with autism have. On the flip side, #LilB has been known to have a disclaimer before meet & greets that no one can touch him. These are symptoms of autism, but it is far from a diagnosis. ---------------------------------------------------------------- It's great though that hip hop and #autism are being mentioned together because the avg age of diagnosis for #autismspectrumdisorders is 4.5 years. Diagnosis in minority families, is an avg of 6 years of age & 5.4 years of age if you're on #Medicaid. Read more at healthandhiphop.net. Until then all hail the #BasedGod, afterall we know what his curses do 😂 #WithAllDueRespect 🙏🏽 ------------------------------------------------------------------ #autismspectrumdisorder #autismawareness #Healthandhiphop #autistic #socioeconomicstatus #minorities #minority