Family Financial Management Practices and Household Food Security in Obio Akpor Local Government Area of Rivers State, Nigeria

This study investigated family financial management practices and food security among households in Obio Akpor Local Government Area of Rivers State, Nigeria. The study examined four core financial practices: budgeting, saving, investment, and debt management, and their influence on food availability, accessibility, and stability. A descriptive survey design was adopted, and data were collected through structured questionnaires administered to 200 households, out of which 187 valid responses were retrieved. Findings revealed that while families prioritise food in their budgets, many struggle with budget preparation and adherence, with only 39% consistently preparing monthly budgets. Saving practices were weak, with 55.1% unable to save regularly, while investment engagement was low (Mean = 2.23), limiting income diversification. Debt was a major challenge, as 54% of households borrowed money to meet food needs, and 66.9% reported that debt repayment reduced money available for food. Food insecurity was prevalent, with 53.4% of households skipping meals and 57.7% reducing meal portions due to insufficient funds, while 80.2% reported that rising food prices negatively affected the quality of food consumed. Statistical analyses established significant positive relationships between budgeting (r = 0.542), saving (r = 0.463), and investment (r = 0.298) and food security, while debt management showed a negative correlation (r = -0.387). Regression analysis indicated that financial management practices collectively explained 46.7% of the variance in food security outcomes. The study concludes that poor financial practices significantly contribute to household food insecurity in Obio Akpor. It recommends targeted financial literacy programmes, encouragement of savings culture, debt management training and policy interventions such as food subsidies to enhance household resilience and food security.