Financial Management Techniques: The Key to Financial Health of Inua Jamii Senior Cash Transfer Beneficiaries in Kenya

Financial health has been identified by the World Bank as key poverty reduction constituent element, as it is important in aiding economic development goals. The financial health among the vulnerable including the aged is very important in ensuring access to medication, food and other basic amenities. Inua Jamii Programme is crucial in identification of the disadvantage groups and providing them with sustainable programme. The global environment has continuously recorded an increase in the number of people with various challenges. Cash transfer programme has been executed globally to reinforce the vulnerable group. The lubricants of poverty among the ageing population results from poor health, inaccessibility to financial support, household straining to cater for basic needs, ignorance and loss of jobs among others. The key aim of this study was to evaluate the effects financial management techniques on financial health of InuaJamii program beneficiaries in Uasin Gishu County, Kenya. Theories anchoring the research included ageing theory, financial education theory and empowerment theory. Explanatory research design will be employed. The target population for this study comprised people who are presently receiving the cash transfer from the government who are 4,093. Through Fishers formula, 351 sample size was arrived at. Primary data was gathered by a questionnaire. The study revealed that cash management, budgeting management, financial literacy and risk management t techniques had a positive significant effect on financial health among Inua Jamii cash transfer benefices in UasinGishu County, Kenya. Further it was established that proper cash management often improves financial health. As the elderly engage in budgetary planning, it helps them to prioritize key basic needs requirements. Financial literacy often involve education on financial planning, budgeting, and investment options enabling the beneficiaries to gain a better understanding of their financial situation, which enhances their ability to make informed decisions and hence improving their financial health. Financial risk management equips the beneficiaries with knowledge about different risk mitigation strategies necessary for financial wellbeing. The study recommends the stakeholders should organize regular workshops focusing on financial literacy, covering topics such as cash management, budgeting and risk management. These skills are geared towards improving beneficiaries¡¯ financial health.