Open AccessImpact of Demography on Financial Literacy
Author(s) -
Pradeep K. Gupta,
Sanjay S. Hanagandi
Publication year - 2022
Publication title -
sdmimd journal of management
Language(s) - English
Resource type - Journals
eISSN - 2320-7906
pISSN - 0976-0652
DOI - 10.18311/sdmimd/2022/29571
Subject(s) - financial literacy , marital status , globe , literacy , poverty , demographics , stratified sampling , demographic economics , caste , socioeconomic status , demography , business , economic growth , economics , political science , psychology , finance , sociology , population , statistics , mathematics , neuroscience , law
The concept of financial literacy is gaining importance across the globe to achieve financial wellbeing. The governments worldwide are involved in finding effective approaches to enhance the financial literacy level for reducing poverty and sustainable development. The review of literature clearly depicts a lower level of financial literacy across the globe is low. Further, the demographics factors influence the level of financial literacy of an individual. Hence, an attempt has been made to study the impact of demographic factors like age, gender, caste, marital status, education level, profession, income level, saving percentage, family size and number of dependants on financial literacy has been analysed using Chi-square test. A sample of 385 is collected using Multistage Random Sampling Method from north part of Karnataka, India to achieve the objectives of the study. It is concluded that the demographic factors like education level, profession, income level, saving percentage, family size have an association with the level of financial literacy.