| dc.description.abstract | It has been observed that when people lack the financial skills to make
informed decisions, they tend to lose their business, meet increased poverty and
unemployment as a result of not exploiting available business opportunities. In
particular, equipping church members with financial skills tends to impact their
returning of tithes and offerings. The overall objective of this study was to assess the
level of financial literacy among selected church members in the Southern Highland
Conference, Tanzania, to highlight areas where there could be a need for training. The
variables used were the level of understanding of church members regarding financial
matters, the source of the financial knowledge acquired by church members, and the
use of financial skills in real life as well as the level of giving of the church members.
Finally, the effect between the use of financial skills and their giving was established.
The respondents were randomly picked from the 1,527 churches of the Highland Conference and 306 respondents were asked to participate in the study. A survey was
used as the instrument for the study. The study design was a causal type and
descriptive. Inferential statistics calculated and analyzed.
From the findings it was discovered that the majority of the respondents have
knowledge on financial issues. Respondents contended to have it through interaction
with other people, entrepreneur struggle, workshops or seminars and formal education
institutions. The study also revealed that church members have financial skills like
budgeting, saving; planning (tax, estate and retirements), though the analysis shows
that they do not have sufficient confidence to engage in financial business and they
are not well financially as most of them are not able to pay short term and long
obligations, as well as the lack of financial freedom. Though financial knowledge has
brought big improvement, the majority of church members still needs emphasize.
Hence, the study recommended that knowledge on financial issues needs to be
built from the childhood stage to impact on individual attitude. Secondly, financial
training in formal education should be done practically rather than theory as most of
church members they have knowledge, skills but lack confidence to make financial
decision. Thirdly, financial training to be done in peer’s groups since business
interactions seems to be the major source of financial knowledge among church
members. Also, financial training is to be given more emphasizing parallel to
stewardship seminars/workshops so as to empower the church and church members
financially. | en_US |
