Open AccessFinancial Literacy Levels amongst Salaried Women: Do they have a Bearing on their Financial Behaviour?
Author(s) -
Rajveer Kaur,
Rajiv Kumar Maheshwary
Publication year - 2021
Publication title -
journal of business thought
Language(s) - English
Resource type - Journals
ISSN - 2231-1734
DOI - 10.18311/jbt/2021/27171
Subject(s) - financial literacy , literacy , finance , descriptive statistics , business , psychology , economics , economic growth , mathematics , statistics
The introduction of a wide array of financial instruments, alongside increased complexity has rendered it crucial for financially vulnerable groups like women to understand the real premises on which they are centered as opposed to being simply aware of them. The study using statistical tools including Descriptives, ANOVA, Chi-Square, Factor analysis conducted during October 2020 - January 2021 assessed financial literacy levels among salaried women in Ludhiana City and its effect on financial behaviour, found the average financial literacy score to be 68%, being higher than OECD financial literacy survey score of 60.48%. Additionally, financial literacy had significant effect on respondents’ subsequent financial behaviour.