Financial Literacy Capability in Older Age: An Examination of Financial and Support Organisations in Ireland

Nortey, Melissa Anguah (2026) Financial Literacy Capability in Older Age: An Examination of Financial and Support Organisations in Ireland. Masters thesis, Dundalk Institute of Technology.

PDF - Submitted Version Restricted to Registered users only Download (1MB) | Request a copy

Abstract

Financial security is an important part of daily life, and in older age, it can be the difference between wellbeing and constant worry. For older people in Ireland, managing money now means planning for retirement, managing healthcare costs, and living on fixed incomes. While financial literacy has been widely studied across different demographics, less attention has been given to understanding the concept from the perspective of financial and support organisations, and how it specifically supports financial wellbeing in older age. This study addresses that gap by examining through the research question, “How do Financial and Support Organisations in Ireland Understand the Financial Literacy Needs of Older Persons Required to Build Financial Wellbeing?” Research indicates that in Ireland, older persons continue to struggle with understanding and managing financial matters, particularly as systems become more complex and there is an increasing shift towards online banking. These challenges can reduce confidence, increase stress, and limit independence in later life. This research applies the Capability Approach, which focuses on people’s real freedoms and opportunities to make choices that they value. Within this framework, financial literacy is viewed not just as knowledge about money, but as the combination of skills, confidence and supportive environments that allow people to act effectively in financial decision-making. The study used a qualitative design involving five (5) interviews with professionals from financial organisations and four (4) focus group discussions with organisations that support older persons including ALONE and Age Friendly Ireland. The findings, which constitute the answer to the research question, reveal that financial literacy capabilities in later life depends on three interrelated elements: practical skills such as budgeting and digital literacy; knowledge about pensions, benefits and fraud prevention; and behaviours that reflect financial confidence, discipline and goal setting. Together, these form the basis of financial capability, that is, the real ability to make informed and confident financial decisions. The research concludes by highlighting that older persons’ financial wellbeing is shaped not only by what they know but also by how institutions, policies and community support enable them to apply that knowledge in everyday life.

Item Type:	Thesis (Masters)
Uncontrolled Keywords:	Financial Wellbeing, Financial Literacy, Older Persons
Subjects:	Business Social Sciences > Older people Social Sciences
Research Centres:	UNSPECIFIED
Depositing User:	Maeve McArdle
Date Deposited:	16 Sep 2026 07:30
Last Modified:	16 Sep 2026 07:30
License:	Creative Commons: Attribution-Noncommercial-Share Alike 4.0
URI:	https://eprints.dkit.ie/id/eprint/1107

Actions (login required)

View Item

Downloads