Emotional setbacks and the loss of identity are commonly seen as the primary outcomes of spousal loss for widows. However, are these the only factors that impact widows in their new phase of life? Certainly not; many other invisible factors may hinder the livelihood of a widow and their surviving family during the phase of bereavement. This study aims to address one such important factor by analysing various literature available in related areas, specifically focusing on the financial aspects of widowhood, which cannot be avoided by the surviving family even prior to, during, and the later stage of bereavement. An integrated review method is adopted to support the aim of the study. Four major themes have emerged from the review, reflecting significant dimensions of finance. Each theme is found to be interrelated with others, highlighting the challenges faced, decisions made, and outcomes experienced by the widows during widowhood. A conceptual model has been developed depicting the factors that influence the financial behaviour of widows. The findings of this study emphasise the need for future research to explore widow’s financial dimensions during the widowhood phase in underdeveloped and developing nations where deprivation is alarming. The implications can lead women to participate actively in household decisions to resist financial adversities during life’s uncertainties.

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Navigating Financial Decisions: A Review on the Impact of Spousal Loss on Widows during Uncertainties

  • D. Nelson,
  • Anusha Srinivasan Iyer

摘要

Emotional setbacks and the loss of identity are commonly seen as the primary outcomes of spousal loss for widows. However, are these the only factors that impact widows in their new phase of life? Certainly not; many other invisible factors may hinder the livelihood of a widow and their surviving family during the phase of bereavement. This study aims to address one such important factor by analysing various literature available in related areas, specifically focusing on the financial aspects of widowhood, which cannot be avoided by the surviving family even prior to, during, and the later stage of bereavement. An integrated review method is adopted to support the aim of the study. Four major themes have emerged from the review, reflecting significant dimensions of finance. Each theme is found to be interrelated with others, highlighting the challenges faced, decisions made, and outcomes experienced by the widows during widowhood. A conceptual model has been developed depicting the factors that influence the financial behaviour of widows. The findings of this study emphasise the need for future research to explore widow’s financial dimensions during the widowhood phase in underdeveloped and developing nations where deprivation is alarming. The implications can lead women to participate actively in household decisions to resist financial adversities during life’s uncertainties.