Book chapter
Financial Inclusion and Loneliness in Old Age: An Overview and Some Empirical Evidence from Ghana
The Handbook of Loneliness, pp.149-158
Springer Nature Switzerland, 1st
11/2025
Metrics
1 Record Views
Abstract
Social health plays a vital role in determining well-being in old age. However, the mortality effects of loneliness are comparable to risk factors like smoking, excessive alcohol intake, and physical inactivity. Easy access to safe financial services may enhance financial capability, deepen economic resilience, and contribute to better health outcomes in old age. This chapter examines the relationship between financial inclusion and loneliness in older adults and explores the moderating effects of physical activity and residential status on this association. Using data from the Aging, Health, Psychological Well-being and Health-seeking Behavior (AgeHeaPsyWel-HeaSeeB) study, Ordinary least squares (OLS) models evaluated the hypotheses among 1201 individuals aged 50 years or older in Ghana who completed the UCLA Loneliness and an eight-item financial instrument scales. Higher financial inclusion was negatively associated with lower levels of loneliness in the total sample and among women. There was no change in the estimates after accounting for living situations and social networks. Moreover, these associations are further strengthened for those who engaged in the World Health Organization (WHO) recommended physical activity. This chapter highlights the significance of financial inclusion in mitigating loneliness, particularly among older women and those who are physically active. Interventions to improve emotional well-being in old age should consider financial inclusion as a key component.
Details
- Title
- Financial Inclusion and Loneliness in Old Age: An Overview and Some Empirical Evidence from Ghana
- Creators
- Razak M. Gyasi - African Population and Health Research CenterVictoria Mensah Nyamadi - Akenten Appiah-Menka University of Skills Training and Entrepreneurial Department (Ghana)Lydia Osei Amankwah - Akenten Appiah-Menka University of Skills Training and Entrepreneurial Department (Ghana)Caiphas Kwame Kenney - Akenten Appiah-Menka University of Skills Training and Entrepreneurial Department (Ghana)
- Contributors
- Todd Nelson (Editor)
- Publication Details
- The Handbook of Loneliness, pp.149-158
- Publisher
- Springer Nature Switzerland; Cham
- Edition
- 1st
- Number of pages
- 10
- Identifiers
- 991013329980502368
- Copyright
- © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2025
- Academic Unit
- National Centre for Naturopathic Medicine
- Language
- English
- Resource Type
- Book chapter