Repositioning the Family for Economic Survival in a Challenging Society: Research Imperatives

Abstract

This paper reviewed the concept of family; changes in the family as well as the role of research in assisting families cope with economic changes. Family is a source of emotional and psychological strength for its members. It meets the economic requirements of its members' families by acting as a production and consumption unit. Over the years a lot of changes have taken place in the family. Urbanization, mobility of population, education, new sexual morality, new direction of recreation are some of the factors. Research can help the family to survive economic challenges.

The following are ways research can contribute to economic development of the society which includes the family. Research resultcan help in cutting cost of production, make large contribution to the economic growth and overall national welfare. This will benefit the family because the family is the basic unit of society. The growth of the foremost countries of the world is as a result of research. Maintaining financial stability is a means of being able to meet monthly expense and still have a little savings. To maintain sound financial stability one must have savings hence having a set amount automatically saved each month. Families should cut out or reduce expenses, invest in their future and never do impulse buying. Conclusively, families are no longer what they used to be. Poverty, scarcity and all forms of economic hardship threaten the existence of the family. Research has to be carried out to identify how families can cope even in the very harsh economic times.