Table 5 Factors that influence the...

Table 5

Factors that influence the choice of household’s financial management adaptation Strategies 3, 4, 6 and 9 using multinominal logit model

Strategies		Strategy-3			Strategy-4			Strategy-6			Strategy-9
Factors in details	Dummy	B	Std. error	Sig.	B	Std. error	Sig.	B	Std. error	Sig.	B	Std. error	Sig.
Age	1	2.75	3.82	0.47	5.22	4.05	0.20	−1.72	8.76	0.84	−0.70	7.04	0.92
	2	−2.13**	0.94	0.02	0.33	1.35	0.81	−0.26	0.95	0.78	−0.64	1.19	0.60
	3	−0.49	0.64	0.44	0.29	1.20	0.81	−0.71	0.83	0.39	0.12	1.00	0.91
	4	0.07	0.61	0.91	0.90	1.19	0.45	−0.06	0.79	0.94	−0.24	1.02	0.82
	5	0.31	0.60	0.60	0.87	1.21	0.47	0.03	0.78	0.97	0.86	0.98	0.38
	6	0.00			0.00			0.00			0.00
Gender	1	0.49	0.71	0.49	1.38	1.13	0.22	0.07	0.86	0.93	0.26	1.02	0.80
Gender	2	0.00			0.00			0.00			0.00
Level of education	1	0.44	0.41	0.28	1.36**	0.60	0.02	−0.17	0.54	0.75	1.41**	0.58	0.02
	2	2.27**	0.81	0.01	2.84**	1.07	0.01	1.62	1.06	0.13	3.37***	1.05	0.00
	3	−4.52	8.03	0.57	1.90	1.61	0.24	0.25	1.52	0.87	−3.92	11.52	0.73
	4	8.14	14.75	0.58	7.96	30.67	0.80	3.74	18.11	0.84	5.57	27.32	0.84
	5	11.75	104.06	0.91	2.02	181.84	0.99	−3.11	133.44	0.98	−0.51	206.05	1.00
	6	0.00			0.00			0.00			0.00
Employment status	1	−1.85*	1.06	0.08	−5.35*	3.01	0.08	−1.63	1.26	0.20	−2.28	1.38	0.10
	2	−2.18	1.19	0.07	−1.12	1.62	0.49	−0.56	1.58	0.72	−1.06	1.41	0.45
	3	−11.59	104.43	0.91	−5.78	182.38	0.98	6.13	132.93	0.96	1.87	205.81	0.99
	4	−1.14	1.72	0.51	−1.03	2.21	0.64	0.11	2.35	0.96	−1.87	2.14	0.38
	5	−1.42*	0.78	0.07	−1.29	1.23	0.29	−1.02	1.01	0.31	−1.53	1.07	0.15
	6	−1.17	0.81	0.15	−0.72	1.29	0.58	0.11	1.03	0.92	−4.08**	1.93	0.04
	7	0.00			0.00			0.00			0.00
Income per month	1	−35.10	2315.13	0.99	−6.54	2347.30	1.00	−4.08	2322.21	1.00	−6.83	2331.57	1.00
	2	−34.68	2315.13	0.99	−5.31	2347.30	1.00	−2.46	2322.21	1.00	−4.59	2331.57	1.00
	3	−34.58	2315.13	0.99	−6.19	2347.30	1.00	−3.23	2322.21	1.00	−5.32	2331.57	1.00
	4	−34.85	2315.13	0.99	−10.54	2347.30	1.00	−5.11	2322.21	1.00	−6.15	2331.57	1.00
	5	−34.55	2315.13	0.99	−5.53	2347.30	1.00	−6.42	2322.21	1.00	−5.07	2331.57	1.00
	6	0.00			0.00			0.00			0.00
Income instability	1	9.33	47.29	0.84	3.61	71.39	0.96	2.85	90.21	0.98	1.95	71.01	0.98
	2	0.62	1.25	0.62	2.98	3.79	0.43	2.19	3.86	0.57	−0.66	1.25	0.60
	3	0.00			0.00			0.00			0.00
Shrinking work opportunity	0	0.78	0.75	0.30	1.40	0.93	0.13	0.25	1.27	0.84	1.46	0.94	0.12
Shrinking work opportunity	1	0.00			0.00			0.00			0.00
Number of dependents in family	1	−0.89	0.69	0.20	−1.37	1.25	0.28	−1.00	1.04	0.33	0.11	0.90	0.90
	2	−0.01	0.43	0.98	0.12	0.61	0.85	0.59	0.59	0.32	0.22	0.60	0.71
	3	0.00			0.00			0.00			0.00
Other’s financial contribution in family	0	0.24	0.38	0.53	−0.04	0.52	0.94	−0.29	0.48	0.54	0.32	0.51	0.53
Other’s financial contribution in family	1	0.00			0.00			0.00			0.00
Savings	0	1.48***	0.46	0.00	1.89**	0.76	0.01	−0.09	0.52	0.86	3.80***	1.15	0.00
Savings	1	0.00			0.00			0.00			0.00
Comparison of household expense to pre-pandemic expense	1	0.06	0.74	0.94	0.03	0.99	0.98	1.56	1.56	0.32	0.11	0.98	0.91
	2	−0.25	0.73	0.74	−0.53	0.99	0.59	1.98	1.55	0.20	−0.75	1.00	0.45
	3	0.00			0.00			0.00			0.00
Major sources of expenditure	1	19.49***	0.52	0.00	3.08	3.23	0.34	6.11	12.25	0.62	10.89	117.40	0.93
	2	19.65***	0.79	0.00	3.06	3.32	0.36	1.94	12.71	0.88	9.08	117.41	0.94
	3	19.35	0.00		3.13	3.24	0.34	5.84	12.26	0.63	10.95	117.40	0.93
	4	0.00			0.00			0.00			0.00

Strategies		Strategy-3			Strategy-4			Strategy-6			Strategy-9
Factors in details	Dummy	B	Std. error	Sig.	B	Std. error	Sig.	B	Std. error	Sig.	B	Std. error	Sig.
Age	1	2.75	3.82	0.47	5.22	4.05	0.20	−1.72	8.76	0.84	−0.70	7.04	0.92
	2	−2.13**	0.94	0.02	0.33	1.35	0.81	−0.26	0.95	0.78	−0.64	1.19	0.60
	3	−0.49	0.64	0.44	0.29	1.20	0.81	−0.71	0.83	0.39	0.12	1.00	0.91
	4	0.07	0.61	0.91	0.90	1.19	0.45	−0.06	0.79	0.94	−0.24	1.02	0.82
	5	0.31	0.60	0.60	0.87	1.21	0.47	0.03	0.78	0.97	0.86	0.98	0.38
	6	0.00			0.00			0.00			0.00
Gender	1	0.49	0.71	0.49	1.38	1.13	0.22	0.07	0.86	0.93	0.26	1.02	0.80
Gender	2	0.00			0.00			0.00			0.00
Level of education	1	0.44	0.41	0.28	1.36**	0.60	0.02	−0.17	0.54	0.75	1.41**	0.58	0.02
	2	2.27**	0.81	0.01	2.84**	1.07	0.01	1.62	1.06	0.13	3.37***	1.05	0.00
	3	−4.52	8.03	0.57	1.90	1.61	0.24	0.25	1.52	0.87	−3.92	11.52	0.73
	4	8.14	14.75	0.58	7.96	30.67	0.80	3.74	18.11	0.84	5.57	27.32	0.84
	5	11.75	104.06	0.91	2.02	181.84	0.99	−3.11	133.44	0.98	−0.51	206.05	1.00
	6	0.00			0.00			0.00			0.00
Employment status	1	−1.85*	1.06	0.08	−5.35*	3.01	0.08	−1.63	1.26	0.20	−2.28	1.38	0.10
	2	−2.18	1.19	0.07	−1.12	1.62	0.49	−0.56	1.58	0.72	−1.06	1.41	0.45
	3	−11.59	104.43	0.91	−5.78	182.38	0.98	6.13	132.93	0.96	1.87	205.81	0.99
	4	−1.14	1.72	0.51	−1.03	2.21	0.64	0.11	2.35	0.96	−1.87	2.14	0.38
	5	−1.42*	0.78	0.07	−1.29	1.23	0.29	−1.02	1.01	0.31	−1.53	1.07	0.15
	6	−1.17	0.81	0.15	−0.72	1.29	0.58	0.11	1.03	0.92	−4.08**	1.93	0.04
	7	0.00			0.00			0.00			0.00
Income per month	1	−35.10	2315.13	0.99	−6.54	2347.30	1.00	−4.08	2322.21	1.00	−6.83	2331.57	1.00
	2	−34.68	2315.13	0.99	−5.31	2347.30	1.00	−2.46	2322.21	1.00	−4.59	2331.57	1.00
	3	−34.58	2315.13	0.99	−6.19	2347.30	1.00	−3.23	2322.21	1.00	−5.32	2331.57	1.00
	4	−34.85	2315.13	0.99	−10.54	2347.30	1.00	−5.11	2322.21	1.00	−6.15	2331.57	1.00
	5	−34.55	2315.13	0.99	−5.53	2347.30	1.00	−6.42	2322.21	1.00	−5.07	2331.57	1.00
	6	0.00			0.00			0.00			0.00
Income instability	1	9.33	47.29	0.84	3.61	71.39	0.96	2.85	90.21	0.98	1.95	71.01	0.98
	2	0.62	1.25	0.62	2.98	3.79	0.43	2.19	3.86	0.57	−0.66	1.25	0.60
	3	0.00			0.00			0.00			0.00
Shrinking work opportunity	0	0.78	0.75	0.30	1.40	0.93	0.13	0.25	1.27	0.84	1.46	0.94	0.12
Shrinking work opportunity	1	0.00			0.00			0.00			0.00
Number of dependents in family	1	−0.89	0.69	0.20	−1.37	1.25	0.28	−1.00	1.04	0.33	0.11	0.90	0.90
	2	−0.01	0.43	0.98	0.12	0.61	0.85	0.59	0.59	0.32	0.22	0.60	0.71
	3	0.00			0.00			0.00			0.00
Other’s financial contribution in family	0	0.24	0.38	0.53	−0.04	0.52	0.94	−0.29	0.48	0.54	0.32	0.51	0.53
Other’s financial contribution in family	1	0.00			0.00			0.00			0.00
Savings	0	1.48***	0.46	0.00	1.89**	0.76	0.01	−0.09	0.52	0.86	3.80***	1.15	0.00
Savings	1	0.00			0.00			0.00			0.00
Comparison of household expense to pre-pandemic expense	1	0.06	0.74	0.94	0.03	0.99	0.98	1.56	1.56	0.32	0.11	0.98	0.91
	2	−0.25	0.73	0.74	−0.53	0.99	0.59	1.98	1.55	0.20	−0.75	1.00	0.45
	3	0.00			0.00			0.00			0.00
Major sources of expenditure	1	19.49***	0.52	0.00	3.08	3.23	0.34	6.11	12.25	0.62	10.89	117.40	0.93
	2	19.65***	0.79	0.00	3.06	3.32	0.36	1.94	12.71	0.88	9.08	117.41	0.94
	3	19.35	0.00		3.13	3.24	0.34	5.84	12.26	0.63	10.95	117.40	0.93
	4	0.00			0.00			0.00			0.00

Note(s): *, ** and *** denote degree of significance at 10%, 5% and 1%

Source(s): Authors’ own work

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