Financial Literacy among Working Young in Urban India

Sobhesh Kumar Agarwalla, Samir K. Barua, Joshy Jacob and Jayanth Varma

World Development, 2015, vol. 67, issue C, 101-109

Abstract: The working young in urban India exhibit inferior financial knowledge, inferior financial attitude, and superior financial behavior compared to their counterparts elsewhere. While both men and women require intervention to enhance their financial knowledge, focused intervention is needed to improve the financial attitude of men and the financial behavior of women. Living in a joint family impacts financial literacy negatively and consultative decision-making in families impacts it positively. The influence of these key aspects of Indian family life indicates the need to involve family members in financial literacy programs to improve financial decision making of families.

Keywords: financial literacy; financial knowledge; financial behavior; financial attitude; youth; India (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (25)

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Related works:
Working Paper: Financial Literacy among Working Young in Urban India (2013)
Working Paper: Financial Literacy among Working Young in Urban India (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:wdevel:v:67:y:2015:i:c:p:101-109

DOI: 10.1016/j.worlddev.2014.10.004

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