Financial Literacy Levels amongst Salaried Women: Do they have a Bearing on their Financial Behaviour?

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Authors

  • Ph.D. Research Scholar, School of Management and Commerce, RIMT University, Mandi Gobindgarh, Punjab – 147301 ,IN
  • Professor cum Dean, School of Management and Commerce, RIMT University, Mandi Gobindgarh, Punjab – 147301 ,IN

DOI:

https://doi.org/10.18311/jbt/2021/27171

Keywords:

Demographics, Financial Behaviour, Financial Literacy, Salaried Women

JEL classification

, D14, G40, G41, G50, G53
Behavioural Finance, Financial Literacy

Abstract

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.

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Published

2022-08-18

How to Cite

Kaur, R., & Maheshwary, R. K. (2022). Financial Literacy Levels amongst Salaried Women: Do they have a Bearing on their Financial Behaviour?. Journal of Business Thought, 12(1), 49–61. https://doi.org/10.18311/jbt/2021/27171
Received 2021-02-22
Accepted 2021-07-13
Published 2022-08-18

 

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