What are the factors that may contribute to a person’s vulnerability?

There are a few factors that may contribute to vulnerability. These include but are not limited to:

i) Disabilities – clients with disabilities that may affect their ability to make an informed decision.

ii) Life events – clients who have experienced adverse life events resulting in temporary or long-term financial hardship such as unemployment, or death or total permanent disability of the main breadwinner.

iii) Financial resilience – clients with a low ability to withstand financial shocks such as clients who are overly-indebted, have cash flow problems or have no savings.

iv) Capability – clients with low knowledge of financial matters, low confidence in managing money or low capability in other relevant areas such as literacy, language or digital skills.

v) Age – Senior citizens who may be less technologically able.