If there is a question you do not feel comfortable answering, you may skip it. Financial literacy has many definitions in existing research as financial literacy officials have left the researchers/authors free to express and analyse financial literacy (Remund, 2010). Thus, it has become essential to examine the determinants of financial literacy and to recognize its importance among working women. Some society journals require you to create a personal profile, then activate your society account, You are adding the following journals to your email alerts, Did you struggle to get access to this article? Create a link to share a read only version of this article with your colleagues and friends. Her research areas include finance, banking and accounting. According to Lusardi (2006), women with lower level of financial literacy are less likely to take retirement plans and they are more dependent on their family and friends for their saving and investment planning. Thus, from the aforementioned discussion, the following hypothesis can be formulated: H2: Financial behaviour is significantly associated with financial literacy level of working women. Your ability to work with less money will most likely translate to how you handle money when you have a lot. Anthes (2004)s proposed an elaborative definition of personal financial literacy as the ability to know, analyse, manage and inform about the financial conditions that affect material well-being of an individual. In present study, authors have presented an association of financial knowledge, financial behaviour and financial attitude towards the financial literacy level among working women in Delhi, India. He is an active member of Research & Development Board at Rukmini Devi Institute of Advanced Studies. The rationality behind the present study is to know the perception of women towards financial literacy. or. PDF. Find out about Lean Library here, If you have access to journal via a society or associations, read the instructions below. For more information view the SAGE Journals Article Sharing page. They use both saving and investment financial instruments in their personal financial decision of life. In many research studies financial knowledge has been considered as a very important determinant to find out financial literacy, but the result showed that women have less financial knowledge and it is not significantly associated with financial literacy of working women. The OECD average is the average of the national average scores of the 10 OECD member countries that participated in the financial literacy … Members of _ can log in with their society credentials below, Kamini Rai, Shikha Dua, and Miklesh Yadav. This site uses cookies. Web survey powered by SurveyMonkey.com. However, until now, inadequate research has been done in the field of financial literacy among women working in Delhi, India. Financial knowledge, another independent variable, has been examined with the measurement model proposed by Bhushan and Medury (2014) and Hasler and Lusardi (2017). For more information view the SAGE Journals Sharing page. The study showcased that financial literacy level is different for men and women. Many researchers have conducted survey on financial planning behaviour, investment behaviour, bills payment behaviour, savings behaviour, credit cards behaviour and budget behaviour to find out financial literacy level of women. India can strengthen the financial literacy of women by influencing positive financial attitude and behaviour. Ajzen (1991) identified that financial attitudes are the outcome of a certain behaviour of a decision-maker and the attitude can be entrenched through their economic and non-economic beliefs. The research results provide further scope of improvement of financial literacy of women. Given that the economic education literature links financial literacy to improved worker productivity, decreased absenteeism, and entrepreneurial success, these findings are encouraging for both the students involved and for their employers in Indonesia. This result is consistent with other research studies on financial literacy that show that a woman has lower level of financial knowledge (Hung, Parker, & Yoong, 2009). Amagir, Groot, Maassen van den Brink, and Wilschut (2018) recommended that increased level of financial knowledge can make a difference in risk perceptions for investment avenues. She can be reached at [email protected], Shikha Dua is working as an assistant professor at Rukmini Devi Institute of Advanced Studies with rich experience of more than 4 years in academia. 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