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VOL. 4, ISSUE 6 (2017)
Financial literacy and socio-economic status: A study of working and non-working women
Authors
Dr. Achla Gakkhar, Dr. Dolly Rani, Manya Kohli
Abstract
Financial Literacy is a major challenge faced
by all countries globally. Financial Literacy is the mix of one’s acquaintance
skill and attitude towards financial matters. It helps to make informed
decisions and wellbeing of an individual.
Since we are in a growing global economy in
the world, financial awareness and knowledge is very important to everyone,
especially for the women. The participation of the women in economy will
contribute to their own wellbeing as well as nation’s economic growth. Women
are responsible for the household budget, household expenses, and savings for
the emergency fund as well as income generation in such situation. So many
financial transformations are happening. 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. So the present
study conducted to know the level of awareness about financial literacy and
their association with socio & economics status among working and non –
working women.
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 30% of working women and 40% of non-working women had medium
level of awareness. Associations of awareness towards saving and investment
with the age, education and socio-economic status for working and non-working
women were observed non-significant in the present study.
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Pages:506-508
How to cite this article:
Dr. Achla Gakkhar, Dr. Dolly Rani, Manya Kohli "Financial literacy and socio-economic status: A study of working and non-working women". International Journal of Multidisciplinary Research and Development, Vol 4, Issue 6, 2017, Pages 506-508
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