Reasons behind women’s less participation in financial decisions can be attributed to lack of financial education, less money management discussions with female members of the family and lack of awareness about innovative financial products and services (Roy & Jain, 2018). H3: Financial knowledge is significantly associated with financial literacy level of working women. The study also identified that financial knowledge is an essential factor to determine financial literacy and financial decision-making skills of an individual (Robb & Woodyard, 2011). Also, Delhi despite being the capital has not been studied. I have read and accept the terms and conditions, View permissions information for this article. Satisfactory financial literacy level of people is important in order to increase their standard of living. The present work gives insight in order to enhance their financial literacy. It means financial attitude and financial behaviour are correlated. Create a free account to … The research results provide further scope of improvement of financial literacy of women. Question 3 is used a scale … Men possess more financial understanding than women. He is an active member of Research & Development Board at Rukmini Devi Institute of Advanced Studies. Find out about Lean Library here, If you have access to journal via a society or associations, read the instructions below. To test the reliability and validity of constructs, confirmatory factor analysis model was estimated using analysis of moments structures (AMOS) version 20, and path analysis was used to measure the association of independent variable with dependent variable. are questions about financial attitudes, financial behaviors, financial knowledge, influences on financial literacy, and demographic information. H1: Financial attitude is significantly associated with the financial literacy level of working women. She can be reached at [email protected], Miklesh Yadav is working as an assistant professor at Rukmini Devi Institute of Advanced Studies with rich experience of more than 8 years in academia. Third, the sample size taken for the study is very small. The program was part of an Inclusive Workforce Development project sponsored by USAID/Indonesia. Today, it has become very essential to create awareness for financial literacy as it can minimize the chances of being misled in investment decision. The findings of this study suggest that ... personal financial literacy … 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. We split this variable into three groups: low (4 or under), medium (5) and high (6 or 7), which is a … 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 main implication of the present study has been encountered in two ways. 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. Please try to answer every question. Table 3 represents the results of CFA for all the four variables in form of validity of scale and goodness of fit, and Figures 1—4 indicate the regression of different construct with their factors. Z. KNOLL Melissa Knoll (melissa.knoll@ssa.gov), Office … Roy and Jain (2018) and Singh and Kumar (2017) found that financial literacy among women is very low and their level of financial knowledge are not satisfactory due to lack of clarity between insurance, saving and investment products. Increases in student financial literacy knowledge were found to relate to prior knowledge, job experience, the type of school they attend, the perceived acquisition of soft skills, and the intention to incorporate the training into their daily lives. measure the assessment of the Financial Priorities of 4P‟s Beneficiaries, the questions were in the form of Likert–type using four point scale–four (4) as the highest and one (1) as the lowest. The study showcased that financial literacy level is different for men and women. 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. To address the lack of a consensus regarding an appropriate instrument to measure financial literacy, the OECD and its International Network on Financial Education (INFE) developed a core questionnaire … He can be reached at [email protected]. Thus, from the aforementioned discussion, the following hypothesis can be formulated: H2: Financial behaviour is significantly associated with financial literacy level of working women. However, a significant gender difference in financial literacy level has been studied by Atkinson and Messy (2012), Chen and Volpe (1998) and OECD (2013), where it was found that financial literacy level is generally lower in women than in men. Scale includes three constructs: financial attitude is significantly associated with the financial literacy of women can. 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