Does financial inclusion build the financial resilience of elderly women?

As the global population of elderly women continues to grow, understanding their financial well-being has become increasingly important. Despite the growing attention on financial inclusion, limited research has focused on how it impacts the financial resilience of elderly women, a group particularly vulnerable to financial shocks. This study addresses this gap by exploring how financial inclusion contributes to elderly women’s ability to cope with unexpected financial emergencies. Using survey data from 1,664 elderly women (above 60 years), the study investigates the role of various financial inclusion indicators–such as savings and insurance products, as well as reliance on family members for saving money–in enhancing financial resilience. Our findings show that financial inclusion plays a crucial role in strengthening the financial resilience of elderly women, with significant contributions from owning savings and insurance products. These insights have important implications for policymakers, regulators, and financial institutions seeking to design more inclusive financial services for elderly populations. By fostering financial inclusion, this study contributes to broader efforts toward achieving the United Nations’ Sustainable Development Goals (SDGs), particularly those related to reducing inequality and promoting economic security for all.