Date of Conferral







Steven Tippins


The high debt-to-income ratios and the low financial literacy levels among Canadian immigrants are hindering public welfare, macroeconomic policies, and economic growth. The purpose of this qualitative exploratory case study was to explore why immigrants to Lloydminster, Canada possess high debt-to-income ratios in their financial portfolios by examining pertinent themes and patterns between their debt profiles and their financial literacy levels. The life cycle hypothesis, rational choice theory, and bounded rationality theory grounded the study. Data collection from the purposeful sample included semistructured face-to-face interviews with 13 adult immigrants and a focus group discussion with 6 adult immigrants, all of whom lived, worked, or owned a business in the city of Lloydminster. The application of Yin's 5-step data analytic procedure revealed key findings that described the pattern between immigrants' debt profiles and their financial literacy levels including environmental curiosity, excellent credit score, family survival, rational decision making, social institutions, economic institutions, pressure impacting financial decisions, credit facility impacting financial decisions, emotions impacting financial decisions, and discount deals impacting financial decisions. Immigrants to Canada can utilize the findings from this study to develop their financial literacy levels and stay committed to making sensible financial decisions, thus triggering positive social change. Sound spending habits could have positive implications for Canada's Gross Domestic Product growth and immigrants' wellbeing.