Welcome to CENFACS’ Online Diary!
21 August 2024
Post No. 366
The Week’s Contents
• Financial Updates – In Focus for 2024 Edition: Financial Choices Made by the Poor
• End Mpox: An Influence Appeal for Health Emergency, Prevention, Preparedness and Response to the Monkey Pox Disease
• Following the Direction of Poverty Reduction This Summer via Aquatic Foods, Trending Topic in Focus from Wednesday 21/08/2024: Aquatic Food Poverty Reduction
And much more!
Key Messages
• Financial Updates – In Focus for 2024 Edition: Financial Choices Made by the Poor
Every Summer, we conduct financial updates of our work and of our users and project beneficiaries. A financial update is, according to ‘financestrategists.com’ (1),
“A regular review of your financial strategies to keep them on track and adjust them as needed to achieve your objectives. The primary objectives of updating a financial plan are to adapt to changes in personal circumstances, respond to economic and market changes, and reassess financial goals and strategies”.
The 2024 Edition of Summer Financial Updates (SFU) is both a review and adjustment about the financial choices made by the poor. This 2024 Edition of SFU focusses on the role of choice that can play in financial matter for those who have little or no financial choice to make because of poverty they experience.
Choice is the act of choosing between two or more possibilities. To have financial choices, it means having financial knowledge and decision-making skills to decide on your financial matters, according to ‘consumerfinance.org’ (2). Do poor people have financial choices? Like rich people, they certainly have. However, their financial choice could be very limited because of poverty and other factors beyond their control. It is this limitation in terms of financial choice that makes this 2024 Edition of SFU.
• • What This Edition Is about
The 2024 Edition of SFU is about the following:
∝ understanding the process inherent in financial decision-making for the poor
∝ working with those who have little or no choice to make when it comes to financial matter
∝ helping them to make good financial choices or decisions about their finances, however little they may be
∝ supporting them in the process of making financial decisions by evaluating different options while selecting the best one based on their financial conditions and circumstances.
For those members of our community who may be interested in the 2024 Edition of SFU, they are welcome to enquire to CENFACS about it. We have provided key highlights about the 2024 Edition of SFU under the Main Development section of this post.
• End Mpox: An Influence Appeal for Health Emergency, Prevention, Preparedness and Response to the Monkey Pox Disease
As the World Heath Organisation (3) announces the highest level of alert for Mpox (monkey pox) and World Health Organisation’s Director-General declares Mpox outbreak a public health emergency of international concern, CENFACS is launching this Influence Appeal for Health Emergency, Prevention, Preparedness and Response to the Monkey Pox Disease.
Like any major infectious and deadly disease of this kind, Mpox has already claimed its victims. According to the World Health Organisation (4),
“Last year, reported cases increased significantly, and already the number of cases [of Mpox] reported so far this year has exceeded last year’s total with more than 15,600 cases [of Mpox] with 537 deaths [in the Democratic Republic of Congo].
Still regarding the Democratic Republic of Congo (DRC), ReliefWeb (5) adds that
“The North Kivu province in east DRC, already facing many years of armed violence between the DRC armed forces and various armed groups, as well as an unprecedented humanitarian crisis, now faces a rapidly spreading Mpox outbreak“.
The cases of Mpox are also being found in countries such as Kenya, Rwanda, Uganda, Central African Republic, Liberia, Cameroon, Cote d’Ivoire, etc.
Mpox requires a global and gigantic response in terms of infrastructure, vaccines and research. There is also the need of practical responses to stop the spread of the disease and to support its victims. Amongst practical responses is the current influence appeal – End Mpox.
• • What Is End Mpox?
End Mpox is about exercising a positive influence to combat the forces that are leading to the outbreak of Mpox in Africa and else where. You can use your influence on the factors holding the key to the outbreak and spread of the infectious disease caused by the monkey pox virus.
Your Positive Influence can deliver meaningful tangible and life-saving outcomes than what you may not think.
• • What Your Positive Influence Can Achieve for the Victims of Mpox
Your Positive Influence can help
√ back health emergency to safe lives against Mpox crisis
√ support the humanitarian response to the life-threatening and -destroying impacts of Mpox disease
√ preparedness efforts to prevent, contain and eradicate Mpox virus
√ in the improvement of awareness-raising activities about Mpox among the population
√ prevent the socio-economic rampant ramifications of Mpox crisis to cause social and economic crises like the coronavirus did
√ establishing surveillance and early warning systems to control the spread of infection
√ setting up care facilities and information/direction points for the needy
√ protect the environment from any depletion of environmental health and resources due to the spread of Mpox or ways of tackling it
√ enhance the implementation of life-saving responses and precautionary measures
√ briefly alleviate the suffering of the vulnerable and affected by Mpox and its distributional detrimental effects.
• • Who Your Positive Influence Will Benefit
The beneficiaries of your Positive Influence or Influencing Donation will be
√ those who are bearing the brunt of this life-threatening and -destroying disease
√ those who lost a loved one to the disease
√ those who are already struggling without basic necessities
√ those at high risk of catching the epidemic spreading (e.g., vulnerable children, young people)
√ those who are without or with limited access to basic services such as water, sanitation, hygiene and basic infrastructure to protect themselves from the damaging effects of Mpox
√ those who could be the victims of the impacts of the disease (e.g., internally displaced persons living in camps)
√ those who are suffering from increased vulnerability and eroded livelihoods because of the Mpox strike
√ in brief, the Mpox-stricken lives, communities and areas.
You can donate your Positive Influence to reduce health poverty in Africa; poverty induced by Mpox disease.
To donate, please contact influential persons (or those having the keys) to reduce or solve the life-threatening effects from Mpox strike and make these influential persons reduce or end these damaging effects on people, communities and areas.
You can as well influence the things or factors that play in the continuity of this infectious disease or crisis in order to create lasting favourable conditions for Mpox-affected people, communities and areas.
Please also let CENFACS know about your influencing work or contribution you are or will be making and its outcomes on behalf of the people of Africa.
To let us know, you can contact CENFACS as follows:
*over phone
*via email
*through text
*by filling the contact form on this site.
On receipt of the outcome of your influencing donation, CENFACS will contact you for record and thank you for any influencing donation made. However, should you wish your influencing support to remain anonymous; we will respect your wish.
Thank you in anticipation for your willingness to give your Positive Influence to end or alleviate the suffering that Mpox is inflicting on people, communities and areas without means to successfully and completely defend against Mpox disease.
• Following the Direction of Poverty Reduction This Summer via Aquatic Foods, Trending Topic in Focus from Wednesday 21/08/2024: Aquatic Food Poverty Reduction
This week, we are continuing to follow the direction of poverty reduction via Aquatic Foods by looking at Aquatic Food Poverty Reduction. In order to carry out this follow up, let us first explain what we mean by Aquatic Food Poverty.
• • What Is Aquatic Food Poverty?
Let us start with food poverty. According to ‘devinit.org’ (6),
“Food poverty is lacking the means to obtain enough food to live a healthy life. People living in food poverty have an income or expenditure that is less than the amount needed to consistently afford a basket of food with minimum recommended nutritional intake. The cost of this basket is called a food poverty line (FPL) – people living below the FPL are not able to afford the cost of food necessary for good health and are in danger of malnutrition, disease or ill health”.
Knowing what is food poverty, it is possible to elucidate aquatic food poverty. Aquatic food poverty is simply the lack of means to obtain enough aquatic foods to live a healthy life. Yet, aquatic foods are nutritious and supposed to increase food availability and affordability for low-income households.
Aquatic food poverty can be reduced. Its reduction is any effort deployed to bring the number of people in aquatic food poverty down. This is the direction of poverty reduction we are following this week.
• • Following the Direction of Poverty Reduction via Aquatic Food Poverty Reduction
Aquatic food systems provide opportunities to enhance food security, improve nutrition, eradicate poverty, etc. They play a role in addressing hunger, malnutrition and poverty. There could be concern within these systems if there is an issue of aquatic food poverty.
Indeed, Tigchelaar et al. (7) note the following:
“Inadequate management and competing demands for aquatic foods by wealthier consumers threatens access to food for low-income consumers as well as food and income for the majority of small-scale actors in wild-caught aquatic food systems”.
These inadequacy and competition can lead to aquatic food poverty for low-income consumers.
Additionally, climate-related hazards may compromise the ability to provide the benefits linked to aquatic foods. These are the benefits that billions of people worldwide draw from aquatic foods from marine and freshwater systems. This is another factor for concern that can cause aquatic food poverty amongst the low-income households.
Furthermore, there could be negative impacts of aquaculture on poor people’s livelihoods. For example, private governance through certification can be an issue as there is the possibility of excluding poorer producers from global value chains and associated implications for poverty alleviation.
For all the above-mentioned reasons, there is a need to follow the direction of poverty reduction via aquatic food poverty reduction. Aquaculture can be used as a strategy to reduce poverty of a targeted group. There could be conflicting views on this matter. Some think that aquaculture exacerbates poverty while others argue it alleviates it. By following the direction of poverty reduction one can find some answers to these competing views.
• • • How can you help in following the direction of poverty reduction via Aquatic Food Poverty Reduction?
Each of our members and supporters can follow the direction of poverty reduction via aquatic food poverty reduction.
For those of our members, supporters and audiences interested in this trending topic, they can enquire during this Summer to the people around them if there is any evidence or case of aquatic food poverty reduction.
For those who have stories with hard evidence on this matter, they can as well add their inputs by contacting CENFACS with their stories and or data.
For example, those who may have opportunity to talk to low-income households about their experience of aquatic food poverty, they can share their findings with us. This is the same for those who have been involved in or running any pieces of research in the form of focus discussion group, a pilot research project, a survey, etc.
To follow the direction of poverty reduction via aquatic foods with us, please contact CENFACS.
Extra Messages
• Happiness, Healthiness and Wellness Journal – Creative Activity No. 5: Create Your Journal of Trust
• Summer 2024 Activities, Projects and Programmes: Help, Support and Assistance are AVAILABLE!
• Summer Triple Pack Is Still Running
• Happiness, Healthiness and Wellness Journal – Creative Activity No. 5: Create Your Journal of Trust
Polycrises of recent years may have perhaps made some people to be sceptical or lose trust in poverty reduction. Yet, there is a need or reason to keep faith in the reduction and end of poverty. There are grounds to believe that happiness, healthiness and wellness can always happen to those who are looking for them.
You can create your journal for any aspects of Summertime linked to trust. You can explain your experiences, feelings and thoughts in terms of happiness, healthiness and wellness about trust over this Summer. You can use surveys, metrics and data about trust to write your journal.
Your journal of trust can cover any of the following three areas: trust in poverty reduction, trust in people/communities/institutions and initiatives that build, develop and sustain trust. Let us give some examples of what one can include in each of these journals. But, before that it is better to highlight the relationships between happiness and trust, between healthiness and trust, between wellness and trust.
• • Relationships between Happiness and Trust, between Healthiness and Trust, between Wellness and Trust
• • • Relationships between Happiness and Trust
There could be link between happiness and trust. There is a number of resources that mention this link. One of them is ‘happyondemand.com’ (8) that explains this:
“Studies indicate that trust is a primary prediction of relationship satisfaction and happiness. When trust is present in a relationship, individuals feel safe, secure, and valued. This fosters a positive emotional environment that contributes to happiness and well-being”.
From this explanation, one can explain their experiences, feelings and thoughts in terms of happiness about trust over this Summer.
• • • Relationships between Healthiness and Trust
There are many real life stories showing that the relationships between healthiness and trust can happen.
For example, Nguyen and Pervan (9) in the literature review and hypothesis development regarding ‘The Relationship between Food Healthiness, Trust and the Intention to Reuse Food Delivery Apps’ written by Kyung-A Sun and Joonho Moon, they explain that food healthiness (i.e., consumers’ perceptions of whether food in the market promotes health conditions) can be associated with consumer trust (that is, assessment of consumer perception of corporate social responsibility).
From the above example and other ones, one can explain their experiences, feelings and thoughts in terms of healthiness about trust over this Summer.
• • • Relationships between Wellness and Trust
There is evidence on the association between trust and individual well-being. Trust plays an important role in promoting well-being.
One can provide evidence by explaining their experiences, feelings and thoughts in terms of wellness about trust over this Summer.
One can go further in their journal of trust by writing on poverty reduction, people and communities they belong to, initiatives to develop trust, projects to build forward together trust, etc.
• • Journal of Trust in Poverty Reduction
You can record your thoughts, feelings, experiences, souvenirs and memories about the following:
promoting trust where trust is lost; dealing with disinformation and distrust about poverty reduction; struggling to cope with trust in poverty reduction, etc.
• • Journal of Trust in People and Communities
You can record your thoughts, feelings, experiences, souvenirs and memories about the following:
correcting inaccuracies and misinformation; stopping the spread of false information or the pollution news within your community/network; building trust with people through transparency; speaking about the most trusted person in your community; talking about faith in your social networks (e.g., family and friends), etc.
• • Journal of Initiatives to Develop Trust
You can record your thoughts, feelings, experiences, souvenirs and memories about the following:
building and protecting standards of trust; rebuilding trust in each other; explaining interactive initiatives you have taken to protect trust; monitoring and collecting feedbacks to track changes in trust, etc.
• • Journal of Projects to Build Forward Together Trust
You can record your thoughts, feelings, experiences, souvenirs and memories about the following:
not supporting a return to the endemic structural disadvantages and inequalities; transforming your relationship with nature; dismantling structures of discrimination that disadvantage poor people; and building on the moral and legal framework of human rights that places human dignity at the heart of policy and action, etc.
The above four areas are just an example of the many about trust and journals of trust. If you have a different area of interest in trust that you would like to write on for your Summer journal, please feel free to do it.
• • Impact Record and Share of Your Journal of Trust
You can impact record your thoughts, feelings, experiences, souvenirs and memories in relation to happiness, healthiness and wellness about trust over this Summer. This can be recorded in your journal and be shared by the end of Summer 2024.
To impact share the contents of your journal of happiness, healthiness and wellness relating to happy, healthy, good and trustful Summer 2024; as well as to help build a better Summer holiday experience, you can contact CENFACS.
• Summer 2024 Activities, Projects and Programmes: Help, Support and Assistance are AVAILABLE!
We believe that everybody is enjoying their Summer break wherever they are and whatever they are doing, despite the lingering effects of the polycrises, extreme temperatures and the cost-of-living crisis.
We also hope that those who are working over this Summer are getting on well with their work while finding some space to accommodate and enjoy the good weather of Summer.
We finally trust that Summer 2024 Happiness, Healthiness and Wellness Projects, including other Summer activities and programmes we have offered so far, are meeting the community’s need to well, happily and healthily pass this Summer.
For those who need any help, support and assistance regarding any of the aspects of the Happiness, Healthiness and Wellness Projects or any other Summer activities or programmes which are on offer, they should not hesitate to contact CENFACS.
We would like to reiterate our wish to all multi-dimensional Poor Children, Young People and Families of Happy, Healthy, Good, Vulnerability-free, Peaceful, Safe and Sustainable Summer Days.
• Summer Triple Pack Is Still Running
Our Summer Triple Pack made of Track, Trip and Trending continues this week. The key message we would like to get across this Triple Pack is to try to help reduce poverty by undertaking any of these three activities: running, visiting projects and analysing trends. Let us make some reminding points about each of them.
• • Healthy, Safe and Net Zero Track to Help Reduce Poverty
This activity (Transition Activity 8.1) of the pack is about Safely, Healthily and Net Zero Run 2.5 miles (nearly 4 km) with people in need to create user-generated information giving opportunity while talking to them during the run and supporting them to improve their coping strategies for their good wellness
For those who have completed their 2.5 miles of running with people, please do not hesitate to share with us your experience. This activity is also performed under August 2024 Transition Year/Project (Activity 8.1).
For those who are deprived to physically run, they can virtually run to help reduce poverty with CENFACS. Among them are people who may be experiencing handicap to do physical activity of running to help reduce poverty. One could include the following in their list:
People or parents caring for very young children, pregnant women, elderly people, disable people, those who are not physically fit or mobile to run, those who do not have opportunity to physically run, etc.
If you are organising this kind of virtual activity or event, let us know. It is also better to advise us that the people participating in the virtual run are the physically deprived ones we have listed above or they have a serious handicap prohibiting them from undertaking any physical engagement.
• • Virtual or In-person Trips or Tours of 3 Influencing Projects or Activities
As part of Transition Year’s/Project Activities of the month and Transition Activity 8.2, we have suggested to Undertake Virtual or In-person Visits or Tours of 3 Transition projects or activities; projects or activities based on transition facts, information and skills acquired through experience or education, and which use transition methodology and tools to support people this Summer 2024.
These virtual visits are not only online recreational activities. They are also a learning and development opportunity in terms of understanding the following:
√ The way in which people or communities living with the lingering effects of the polycrises, particularly those who are undertaking coping and survival strategies, are dealing with these effects as well as poverty and vulnerability induced by other crises
√ What is needed to help them transition away from the problems they have
√ What lessons that can be learnt and shared from their sensory experiences and knowledge-based projects to improve future actions, planning and decision-making processes
√ The demand in terms of policy development and response to meet similar needs in the future.
Furthermore, Virtual Trip as part of our Summer Triple Pack includes field work research in Africa and anywhere else in the context of poverty relief and sustainable development projects.
For those who are having or have had these experiences and results of field work research, please do not hesitate to share them.
• • Online Trending Activity by Following the Direction of Poverty Reduction via Aquatic Foods
As part of CENFACS’ Transition Year and Project and Activity 8.3, we have asked to those who can to carry out online search to find 6 Trends in poverty reduction for projects that are helping people to transition out of poverty.
The above mentioned Summer Triple Pack can be contextualised by considering the lingering impacts of the polycrises, extreme temperatures and the damaging effects of the squeeze in household expenditure.
Message in French (Message en français)
• Retours d’information tout-en-un avec impact: Rapport sur les rapports
Le mois dernier était notre mois de l’Analytique et de l’Impact. Dans le cadre du mois de l’Analytique et de l’Impact, nous avons demandé à certain(e)s d’entre vous de nous faire part de leurs expériences concernant les projets et programmes que nous avons mis en œuvre au cours du dernier exercice financier.
Nous avons demandé deux retours d’expérience: les commentaires d’individus en tant que soutiens et utilisateurs de programmes et de projets, ainsi que les commentaires d’organisations (organisations sœurs basées en Afrique). Certain(e)s d’entre vous ont répondu et d’autres n’ont pas répondu. Nous tenons à remercier ceux et celles qui ont répondu.
Pour ceux et celles qui ont répondu et nous ont donné leurs coordonnées, ils/elles seront contacté(e)s et recevront une copie du rapport mentionné ci-dessus.
Nous profitons de l’occasion pour les remercier encore une fois pour leur soutien témoignant et expérientiel.
Main Development
• Financial Updates – In Focus for 2024 Edition: Financial Choices Made by the Poor
The 2024 Edition of Summer Financial Updates (SFU) is concerned with how users and project beneficiaries choose among the alternatives available to them. It deals with scarcity, opportunity cost and choices made by the poor regarding their financial matter.
To enable readers extirpate the contents of this edition, we have provided below the key highlights about financial choices made by the poor.
• • Key Highlights of This Year’s Edition of Summer Financial Updates
The following headings contain the main points highlighted in this Year’s SFU:
∝ What is financial choice?
∝ Financial strategic choice
∝ Working with those without or with very little financial choice
∝ Guidance, tips and hints to make a good financial choice
∝ Evaluation of financial choices/options
∝ Selection of the best financial option
∝ Relationships between happiness and financial choice, between healthiness and financial choice, between wellness and financial choice
∝ Improving the relationship between financial choice and poverty reduction
∝ Working with users to empower them with financial choice tools and achieve the goal of financial poverty reduction
Let us unpack the above headings.
• • What Is Financial Choice?
To explain financial choice, it is better to start with choice.
Choice theory, which was developed by the psychiatrist William Glasser quoted by ‘chopra.com’ (10), says that people have direct control over the acting and thinking components of their behaviour.
To this explanation of choice, we can add the philosophical view of choice given by ‘britannica.com’ (11), which is
“Choice, in philosophy, is the supposed ability to freely decide between alternatives. Choice is a corollary of the tradition notion of free will, understood as the supposed power or capacity of humans to make decisions or perform actions independently of any prior event in or state the universe”.
Choice can also be financial. Financial choice refers to the process of making decisions related to money and investments. It involves evaluating options and selecting the best course of action based on financial goals and circumstances.
The above-mentioned definitions of choice are all summarised in the 2024 Edition of SFU. This Edition is a resource that supports project beneficiaries as they act to decide what they want from a set of financial options. They may want to undertake a financial strategic choice.
• • Financial Strategic Choice
To make a financial choice, one may need strategic analysis linked to their financial choice. Financial strategic choice is thus the strategy chosen out of available alternatives for attaining users’/project beneficiaries’ objectives.
For instance, ‘kfknowledgebank.kaplan.co.uk’ (12) explains that there are 3 techniques for evaluating specific options for organisations, which are:
a) Generation of strategic options
b) Evaluation of the options to assess their relative merits and feasibility
c) Selection of the strategy or option that the organisation will pursue.
These techniques can be adapted to individuals and be applied by our users/project beneficiaries. In this respect, CENFACS can work with them to generate financial strategic options that are suitable, acceptable and feasible for them.
• • Working with Those Without or With Very Little Financial Choice
To have financial choices, it means having financial knowledge and decision-making skills to decide on your financial matters. Do poor people have the required financial knowledge and decision-making skills they need to decide? This is a controversial question. For some, they have them. For others, they have not. For other more, the answer is 50-50.
For the members of the CENFACS Community who have problems to make a financial choice, CENFACS can work with them so that they can acquire the skills they need to make a better financial choice or they can improve their existing financial choice skills and capacity. This is because poverty can be also the lack of skills or capacity to make a good financial choice.
• • Guidance, Tips and Hints (GTH) to Make a Good Financial Choice
GTH includes help, advice, counselling, signposts, referrals and pieces of useful information that CENFACS can provide to its members/users/project beneficiaries so that they can make a good financial choice.
For example, if we refer to ways of improving people’s financial decision making given by ‘newretirement.com’ (13), GTH could be about the following:
σ how to choose a financial plan that suits you to make a good financial decision
σ choosing rationality
σ opting for the right algorithm for your financial decision (e.g., the New Retirement Planner that helps make a good financial choice)
σ having a system of choices before making a financial decision
σ foresight of various possible outcomes
σ considering your ‘regret’ attitude before choosing
etc.
GTH also includes information on decision support technologies. These are technologies for supporting people to make decisions or choices.
For those members of our community, users and project beneficiaries who are in need of guidance, tips and pieces of information about a good financial choice, they can contact CENFACS.
For those who would like to access the GTH about their financial choice, they are welcome to communicate with CENFACS.
• • Evaluation of Financial Choices/Options
Financial choices or options need to be evaluated. What does this evaluation involve? According to ‘wallstreetmojo.com’ (14),
“Evaluating financial choices or options involves financial data evaluation like funding sources, cash flows and investment opportunities to understand the existing financial situation”.
For example, one can refer to the tool suggested by the ‘consumerfinance.gov’ (15), the financial empowerment self-assessment tool to better understand their own financial knowledge, skills, and overall confidence.
• • Selection of the Best Financial Option
To select the best financial option, it requires knowing the financial decision-making process. But, what is a financial decision-making process?
According to ‘financestrategists.com’ (16),
“The financial decision-making process refers to the series or steps that individuals or businesses undertake to identify, evaluate, and select among different financial alternatives or options. Steps in the financial decision-making process include: identification of financial goals, gathering relevant financial information, analysis of financial data, development of alternative solutions, selection of the best financial strategy, implementation of the selected strategy, monitoring and evaluation of the decision”.
This process will enable individuals (here the poor) to decide what they want from a set of financial options.
• • Relationships between Happiness and Financial Choice, between Healthiness and Financial Choice, between Wellness and Financial Choice
Financial choices we make can leave us happy or unhappy. They can keep us healthy or unhealthy. They can make us feel well or unwell. Because of the consequences of our financial choices, it is worth for us o explore the relationships between happiness and financial choice, between healthiness and financial choice, between wellness and financial choice. In simple terms, we may try to answer the following questions:
Q1: How happy are we about the financial choices we have made or not made?
Q2: How healthy do we feel further to the financial choices we have made?
Q3: How well do we feel after making some financial choices?
If we feel happy, healthy and well after making financial choices, we could argue that there are correlations between happiness and financial choice, between healthiness and financial choice, between wellness and financial choice. If we feel unhappy, unhealthy and unwell; there are reasons to believe there are no correlations. However, we may need our own data to explain these three examples of correlations.
We can work with our members or users or project beneficiaries on the above-mentioned relationships.
• • Improving the Relationship between Financial Choice and Poverty Reduction
The study of the way in which people make their financial choices can help to understand or to get insights if there is any relationship between their choices and the financial difficulties they are experiencing. In other words, it is about establishing if there is any correlation between their financial choices and efforts to reduce financial poverty they are undergoing. In this study, the attempt is to improve the relationship between financial choices of our members and their efforts to come out financial poverty.
Through the types of financial choices they make, CENFACS will work with them to explore ways of improving this relationship between their choices and the efforts they are deploying to reduce poverty.
For example, if one is experiencing poverty as loneliness due to their financial choices, then there are ways of improving their financial choices to reduce poverty as loneliness. Likewise, if one is has impulsive buying attitude, it is possible to improve their attitude to choose financial option away from this attitude.
• • Working with Users to Empower them with Financial Choice Tools and Achieve the Goal of Financial Poverty Reduction
The all purpose of SFU is not to provide theories or descriptions or even assumptions. Instead, SFU as a resource is designed to capacitate the CENFACS Community to address challenging issues they face. In this case, the challenging issue is how to make a good financial choice to reduce poverty.
In this exercise of addressing challenges, our members are not let alone. CENFACS can work with them to enhance financial choice-making skills so that they can make the right and best possible choice from a wide range of options.
CENFACS can work with them to accomplish specific tasks to deal with their financial choice, in particular to accompany them in their financial decision-making journey so that they can better identify, evaluate, and select amongst the different financial alternatives or options.
CENFACS can conduct needs assessment with them and find out whether we can employ financial choice tools that can enable them to make conscious financial choices. One of these tools is provided by ‘financialgym.com’ (17), which is the wealth nourishment pyramid. According to ‘financialgym.com’,
“Wealth nourishment pyramid is an intuitive model or tool that helps the different areas of our lives that we want to infuse with energy. It is about wealth viewed in four ways: our needs, our well-being, our treats and our gifts”.
We can as well utilise key performance indicators such as life happiness index, financial independence number, net worth, financial health index, etc. to support them make a consciously good financial choice in their life.
For those who need help with their financial choices, we can work together towards their financial strategic analysis and support them to choose the best financial option.
The above highlights are just a selection of some of matters raised in this year’s SFU.
For those who need help to sort out their financial choice-making process, they are welcome to contact CENFACS.
Likewise, those who want to read this year’s resource of SFU beyond the aforementioned highlights, they can as well contact CENFACS.
_________
• References
(1) https://www.financestrategists.com/financial-advisor/financial-planning/financial-plan-updates (accessed in August 2024)
(2) https://www.consumerfinance.gov/consumer-tools/educator-tools/youth-financial-education/learn/financial-knowledge-decision-making-skills/ (accessed in June 2024)
(3) https://www.who.int (accessed in August 2024)
(4) https://www.who.int/news/item/14-08-2024-who-director-general-declares-mpox-outbreak-a-public-health-emergency-of-international-concern (accessed in August 2024)
(5) https://reliefweb.int/report/democratic-republic-congo/irc-launches-emergency-response-mpox-outbreak-drc-spreads (accessed in August 2024)
(6) https://devinit.org/resources/food-poverty-global-regional-and-national/ (accessed in August 2024),
(7) Tigchelaar, M., Cheung, W. W. L., Mohammed, E. Y. et al. Compound climate risks threaten aquatic food system benefits. Nat Food 2, 673-682 (2021) available at https://doi.org/10.1038/s43016-021-00368(accessed in August 2024)
(8) https://happyondemand.com/happiness-in-relationships/ (accessed in August 2024)
(9) https://www.mdpi.com/2304-8158/13/6/890 (accessed in August 2024)
(10) https://chopra.com/blogs/personal-growth/the-psychology-behind-choice-making-and-how-it-can-help-you-reach-your-goals (accessed in August 2024)
(11) https://www.britannica.com/topic/choice (accessed in August 2024)
(12) https://kfknowledgebank.kaplan.co.uk/business-strategy/strategic-choice (accessed in August 2024)
(13) https://www.newretirement.com/retirement/financial-decision-making/ (accessed in August 2024)
(14) https://www.wallstreetmojo.com/financial-decision-making/ (accessed in August 2024),
(15) https://files.consumerfinance.gov/f/documents/cfpb_your-money-your-goals-_fin-empowerment_tool_2018-IT.pdf (accessed in August 2024)
(16) https://www.financestrategists.com/financial-advisor/financial-planning/financial-decision-making-process (accessed in August 2024),
(17) https://financialgym.com/blog/2020/11/18/how-to-make-conscious-financial-choices (accessed in August 2024)
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• Help CENFACS Keep the Poverty Relief Work Going This Year
We do our work on a very small budget and on a voluntary basis. Making a donation will show us you value our work and support CENFACS’ work, which is currently offered as a free service.
One could also consider a recurring donation to CENFACS in the future.
Additionally, we would like to inform you that planned gifting is always an option for giving at CENFACS. Likewise, CENFACS accepts matching gifts from companies running a gift-matching programme.
Donate to support CENFACS!
FOR ONLY £1, YOU CAN SUPPORT CENFACS AND CENFACS’ NOBLE AND BEAUTIFUL CAUSES OF POVERTY REDUCTION.
JUST GO TO: Support Causes – (cenfacs.org.uk)
Thank you for visiting CENFACS website and reading this post.
Thank you as well to those who made or make comments about our weekly posts.
We look forward to receiving your regular visits and continuing support throughout 2024 and beyond.
With many thanks.
