Prisoners with Purses: The Financial Literacy and Habits of Incarcerated Women

ABSTRACT

Reentry success is dependent upon a variety of factors including the often-overlooked topic of financial literacy and habits. Studies have examined financial literacy within the American public, however previous research concerning inmates, especially females, is sparse and its impact on re-entry has been underanalyzed. A cross-examination of financial literacy, predatory lender use, and financial planning is conducted comparing samples of incarcerated women to women in the general public. Authors concluded that incarcerated women have a diminutive comprehension of financial concepts but a high use of predatory lenders. Such findings suggest that implementing financial education programming within prison may lead to beneficial reentry outcomes.

KEYWORDS:

• Women
• financial capability
• prison programming
• predatory lenders

Disclosure statement

No potential conflict of interest was reported by the authors.