Abstract:
This study aims to assess the impact of long-term savings schemes on improving the welfare of
young people living with HIV in Rwanda, focusing on the Ejo Heza program. It specifically
investigates the influence of financial awareness, financial knowledge, attitudes toward saving,
and financial behavior on welfare. The research targeted 23,734 individuals from Ejo Heza,
utilizing both primary and secondary data. Primary data was collected via structured
questionnaires, and the reliability of the instruments was ensured through test-retest methodology
and Cronbach's coefficient, with a value of 0.7 confirming their dependability. The study employed
descriptive and inferential statistical analyses, with descriptive statistics summarizing data through
percentages, frequencies, and counts. Inferential analysis, including multiple regression, was used
to explore the relationship between independent and dependent variables. The research employed
concurrent triangulation to enhance validity and conducted detailed interviews to assess non-
numerical instruments. The results were presented using tables and figures, offering a
comprehensive understanding of how financial factors influence the welfare of young people
living with HIV in Rwanda. The findings indicate that financial behavior has the positive impact
on welfare promotion among young people living with HIV, with a high standardized coefficient
(Beta = 1.104) and a very strong significance (t = 27.540, p < .001). Financial awareness also
positively influences welfare promotion, albeit to a lesser extent (Beta = .085, t = 2.928, p = .004).
Conversely, both financial knowledge (Beta = -.085, t = -2.789, p = .006) and attitude towards
saving (Beta = -.367, t = -9.502, p < .001) have negative impacts on welfare promotion. The
constant term is also significant (B = 1.835, t = 8.677, p < .001), suggesting other underlying
factors influencing welfare promotion. The study concludes that financial behavior significantly
enhances the welfare of young people living with HIV in Rwanda, while financial awareness also
positively contributes to their well-being. In contrast, financial knowledge and attitudes towards
saving negatively impact welfare promotion, indicating a need for tailored financial education
programs that address these specific challenges. Policymakers and financial educators should
prioritize enhancing financial behavior among young people living with HIV by incorporating
practical financial management skills and consistent saving practices into their programs.
Additionally, targeted interventions should address the negative impacts of financial knowledge
and attitudes towards saving by fostering a more positive and informed mindset regarding financial
literacy and the benefits of saving.
