Social Celebration and Financial Anxiety: Empirical Evidence from Rural India

The purpose of the study is to assess the impact of expenditure practices during festivities and various social ceremonies on the financial anxiety of the rural poor. Based on the study’s findings, a social work intervention was proposed to combat the financial anxiety arising due to the unregulated spending patterns of rural households. For the present study, we have deliberately adopted a descriptive research design; 640 structurally poor respondents were interviewed from rural Karnataka. The Households Financial Anxiety Assessment Scale developed by Archuleta, Dale, and Spann (2013) (FAS) was used to assess respondents’ financial anxiety. The study found that the spending patterns of poor rural households on festivities and social ceremonies lead them towards financial anxiety, financial vulnerability and continued poverty. We have attempted to draw the attention of professional social work educators to adopt the Financial Social Work model in the curriculum. We have proposed interventional strategies for Practitioners in Government and Non-Governmental organisations to practice in the field. The present study’s findings highlight the significant relationship between festivities and spending on social ceremonies and the consequent financial anxiety.