(, D’Silva, B., D’Silva, S., Bhuptani, R. S. (, Kasman, M., Heuberger, B., Hammond, R. A. The main purpose of this research article was to find out factors associated with financial literacy of working women in India. Financial literacy level among men is increasingly faster than in women; however, women with higher incomes are more confident in their personal finance and have higher financial literacy level. A good model fit indices includes chi-square/degree of freedom (CMIN/df), goodness-of-fit indicators such as goodness-of-fit index (GFI) and adjusted goodness-of-fit index (AGFI) and badness of fit indicator like root mean square error of approximation (RMSEA). The sample size of 394 working women from various public and private organizations of Delhi has been incorporated for the research. As per the ASIC report (2003), it has been recognized worldwide that financial literacy is an important element of economic and financial stability and growth. The instrument consisted of 10 questions on a 5-point Likert scale with 5 as strongly agree and 1 as strongly disagree. A blueprint for national strategy of financial education was planned and released. The current study is not free from limitations. 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. First, the study has been conducted on working women of Delhi only which may not be applicable in other cities of country. Financial literacy is a dependent variable for which a well-structured multidimensional measure has been used. You can be signed in via any or all of the methods shown below at the same time. The three main factors—financial knowledge, financial behaviour and financial attitude—were recognized as very important factors to examine financial literacy. Descriptive statistics was used for data analysis. Angela Somcio. A self administered questionnaire was given to the respondents to answer multiple choice questions and likert scale questions. In order to increase financial literacy level of people in India, an effort has been made by RBI, which authorized commercial banks to take necessary steps to increase financial inclusion by increasing financial literacy in the country. Lusardi and Scheresberg (2017) identified that women who are of young age, having children and facing disruption in marital life are more likely to face financial distress. The study suggested that to increase the financial knowledge of women, financial literacy programmes should be conducted. Developing better financial … The result of path analysis has been shown in Table 4. Published by Elsevier Ltd. International Review of Economics Education, https://doi.org/10.1016/j.iree.2019.100168. Student’s positive attitude towards finance and money can affect their behaviour to achieve financial literacy and enhance financial knowledge. As women are very important part of the society and they have to take many household decisions, the ultimate concern should be how to improve their financial literacy as it not only affects family’s welfare but also benefits their financial planning and saving behaviour. Thus, based on the research works mentioned earlier in this article, researchers have formulated and tested following hypothesis to state the association of financial attitude and level of financial literacy. Download Free PDF. All average scores reported as higher or lower than the U.S. average score are different at the 0.5 level of statistical significance. Majority of the studies depicted inconclusive results. ( 2012 ) recommended only three dimensions to judge financial literacy level is low and are... H2 are accepted and H3 is rejected ( Figure 6 ) financial.... 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