Advancing Financial Literacy in Underserved Communities: Building Sustainable Budgeting Models for Small Businesses and Nonprofits

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@article{1710249,
      author = {Vimbai Hlahla, Munashe Naphtali Mupa, Catherine Danda},
      title = {Advancing Financial Literacy in Underserved Communities: Building Sustainable Budgeting Models for Small Businesses and Nonprofits},
      journal = {Iconic Research And Engineering Journals},
      year = {2025},
      volume = {9},
      number = {2},
      pages = {724-734},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1710249.pdf},
      abstract = {The study aims to understand how technology, ethics, and inclusivity can contribute to financial literacy and budgeting in underserved populations. As artificial intelligence (AI) becomes increasingly relevant, new prospects have presented themselves to the realm of individuals and small businesses to have access to personalized financial instruments. This paper examines how finance assistants based on AI and automated budgeting tools can promote decision-making with the adequate knowledge, as well as how to solve ethical and governance issues associated with them. At the same time, it explores impediments like linguistic exclusion, digital inaccessibility, and insufficiency of institutional trust that still influence at-risk communities, particularly immigrants and low-income communities. Using the comparative thematic analysis of AI-based and community-based financial architecture, such as participatory budgeting and programs supporting SME empowerment, the present paper singles out innovative practices that contribute to increasing financial autonomy. It concludes by suggesting integrative policies that would require the fusion of AI literacy, ethical monitoring, and inclusive design. Such cross-sector plans are important in bringing a sense of equity, accountability, and responsiveness in digital and traditional financial literacy practices to various needs of the communities.},
      month = {August},
  }