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International Journal of Applied Research
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ISSN Print: 2394-7500, ISSN Online: 2394-5869, CODEN: IJARPF

IMPACT FACTOR (RJIF): 8.4

International Journal of Applied Research

Vol. 2, Issue 12, Part J (2016)

Financial literacy and effective sources of information: A study of working and non-working women

Author(s)
Dr. Achla Gakkhar, Dr. Dolly Rani and Manya Kohli
Abstract
Literacy is a key indicator of development. Today the people are more aware about the education but only literacy is not adequate. Financial Literacy means that one is literate in the issues of managing money (including, saving, budgeting, investing, credit, insurance and taxes) and utilizes that knowledge to gain personal welfare through financial security. It helps to make informed decisions and well-being of an individual. In today’s world which has a market with complicated products, the need for financial literacy becomes predictable. Hence the financial literacy is a vital part to engage the women in financial inclusion prevent them from financial malpractices and include them in a present economic growth. This paper therefore aims to analyze the level of awareness and practice of working and non-working towards saving and investment and effective sources of information regarding financial literacy. It is concluded from the study that majority of the working women and non-working women (70% and 56% respectively) had high level of awareness towards saving and investment. While regarding to the saving practice majority of the working women (38%) and non-working women (50%) had average practices. Regarding to the effective sources it is observed that both working and non-working women obtained maximum source of information through wide range of internal. Thereafter it is noticed that the source of information were collected through media, self-experience and home.
Pages: 672-674  |  655 Views  16 Downloads
How to cite this article:
Dr. Achla Gakkhar, Dr. Dolly Rani, Manya Kohli. Financial literacy and effective sources of information: A study of working and non-working women. Int J Appl Res 2016;2(12):672-674.
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