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A Study of Financial Literacy of Salaries Individuals’ in Terms of Financial Awareness, Skills and Knowledge

Author : Dr. Hemant Kaduniya and Priya Meena

Abstract :

In present decade financial literacy financial awareness, financial knowledge and financial skills are helping to salaried individuals to getting appropriate decisions about investment and borrow money. Median was used to categorize in two groups of respondents where more than median group is “high financial literate group” and is equal to or less than median is known “low financial literate group”. All demographic components have not affected on agree level with financial literacy importance it means financial literacy help in understanding the investment attitude of the targeted respondents in a better level. Investing avenues, the borrowing preference of salaried respondent are also for various financial avenues are independent from financial literacy. Financial literacy is significantly associate with sources for reducing risk aversion in making investing and borrowing decision. High financial literacy groups prefer used financial literacy and financial experts/advisor for making investment and borrowing decision as compared to low financial literate group.

Keywords :

Financial literacy, financial knowledge, financial awareness, financial skills