A study regarding Mexican experience has highlighted that the social and cultural factors embedded in the financial landscape greatly influence the ability of individuals to use financial services effectively. Results indicate that in addition to material resources, the inherent nature of social relations and community links played a crucial role in improving access to and use of financial services.
The transformation of financial information, knowledge, experience, attitudes and social relationships into financial education and sophistication constituted a cognitive resource to reducing vulnerability. This leads us to suggest that a culture of finance is an important catalyst for individuals’ change and development.