3319621106 by Unknown

Author:Unknown
Language: eng
Format: epub
Published: 2017-09-22T12:23:00+00:00

6 MANAGING EVERYDAY LIVING: MICROFINANCE AND CAPABILITY 115

with eight participants having paid employment. All of these were from

CALD backgrounds.

With regard to family structure, seven participants were partnered

with dependent children, six participants were single, while two partici-

pants were partnered but without dependents, and two were single par-

ents with dependent children. Five participants earned $1000 or more

per fortnight and all of these were from CALD backgrounds. Only two

participants lived in their own residence. All the other participants were

renters.

6.2.4 Findings

1. Uses of NILS loans

All participants reported having income inadequacy as the basis of the

needs for NILS loans. However, focusing on income alone will “blind

us to some influences on the ability to convert income into capability”

(Tseng 2011, p. 26). There are other factors that can contribute to people’s well-being (Tseng 2011). In the study, income is therefore looked at as relative to cost of living, ambition, and obligations to others. Firstly, meeting the cost of living can be understood as a set of interrelated func-

tionings (Sen 1985). Some participants have a higher cost of living relative to income. For instance, an age pensioner living in public housing

and a single parent with dependents living in private rental would not

be able to achieve the same functioning with the same income. Thus,

even though the level of income may be the same among participants,

in effect, it may bring different level of functionings for different participants. Secondly, some participants reported income inadequacy because

of their ambition to financially advance themselves. Thus, they may

either upskill themselves with further study (in the hope of getting a bet-

ter paying job) or save for a future business venture. Five participants,

all from a CALD background, reported insufficient income because

they needed money to buy a computer for their study or to pay their

course fees. One CALD participant said that his income was not suffi-

cient because he had plans for a future business venture and he needed

to save his “work money” for a future business venture. Lastly, some par-

ticipants’ reported insufficient income because of their family obligations

116

L.I. LING ET AL.

and commitments. This is particular apparent among the CALD par-

ticipants. For some overseas-born participants, inadequate income was

because their savings were sent overseas to help other family members

(regardless of whether they had their own family in Australia). Four

CALD participants mentioned they sent money overseas to help their

family. People sometimes also pursue goals that can reduce their well-

being (Tseng 2011). For instance, a CALD participant had taken a NILS

loan for a child’s driving lesson, one participant took a NILS loan for

another person’s car repair and another participant mentioned she was

short of money when she stocked food for her grandchildren.

2. Participants’ money management style

Rent was the single most important priority in allocating funds men-

tioned by participants, followed by bills and food. NILS Participants liv-

ing in social housing were less stressed than participants living in private

rental arrangement. All the participants living in social housing men-

tioned using Centrepay to pay their rent and bills. This is a direct bill-

paying service offered free for Centrelink customers who are receiving

payments; usually, bills are paid by having a regular amount deducted

from the Centrelink payment.

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