| Variable | Description |
| Attitude | Quantitative variable taking values from 1 to 5 depending on whether the respondent completely agreed, agreed, remained neutral, disagreed, or completely disagreed with the statement that, “I find it more satisfying to spend money than to save it for the long term.” |
| Trust | Dummy variable that takes the value 1 if the respondent believe that financial institutions have the best interest of their clients at heart and 0 otherwise. |
| Distance | Quantitative variable taking values from 1 to 3 depending on whether the respondent is near to, far away, or very far away from a financial institution. |
| Cost | Quantitative variable taking values from 1 to 5 depending on whether the respondent completely agreed, agreed, remained neutral, disagreed, or completely disagreed with the statement that, “financial institutions charge very high rates on their products and services.” |
| Culture | Dummy variable that takes the value 1 if the respondent’s religion/culture prevent him/her from taking a loan or any other financial product from a financial institution and 0 otherwise. |
| Capability | Quantitative variable taking values from 1 to 5 depending on whether the respondent completely agreed, agreed, remained neutral, disagreed, or completely disagreed with the statement that, “I have the capacity to keep a close personal watch on my financial affairs.” |
| Documentation | Dummy variable that takes the value 1 if the respondent has personal identification that he/she can use for financial transactions and 0 otherwise. |
| Family | Quantitative variable taking values from 1 to 5 depending on whether the respondent completely agreed, agreed, remained neutral, disagreed, or completely disagreed with the statement that, “I depend on a relative’s bank account for my financial transactions.” |
| Money | Quantitative variable taking values from 1 to 5 depending on whether the respondent completely agreed, agreed, remained neutral, disagreed, or completely disagreed with the statement that, “I don’t have enough money to transact with a financial institution.” |
| Literacy | Dummy variable that takes the value 1 if the respondent can read and write and 0 otherwise. |