Download with Google Download with Facebook. The financial management practices of participants were examined using a Likert scale comprising twenty four 5-point questions … Third, the sample size taken for the study is very small. For more information view the SAGE Journals Article Sharing page. Financial behaviour is also an independent variable which is measured by the scale developed by OECD (2013) and Shockey (2002). Hasler and Lusardi (2017) measured financial literacy by asking basic questions related to knowledge about numeracy (interest), compound interest, inflation and risk diversification. If you have the appropriate software installed, you can download article citation data to the citation manager of your choice. In India, many women are working and giving financial assistance to their family yet show less interest in taking investment decision due to fear of risk. Her research areas include financial management and management accounting. The study suggested that to increase the financial knowledge of women, financial literacy programmes should be conducted. 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. Please read and accept the terms and conditions and check the box to generate a sharing link. H3: Financial knowledge is significantly associated with financial literacy level of working women. Methodology The OECD/INFE questionnaire included in this toolkit is designed to collect relevant information about financial literacy and financial inclusion within a country, 4 and to compare levels of financial literacy and financial … Angela Somcio. To check the financial literacy, the construct covers financial knowledge, financial behaviour and financial attitude (OECD, 2013). Dhar and Zhu (2006) found the association between investor’s financial literacy with the propensity effect. Financial attitudes along with financial behaviour can also affect financial well-being. The instrument consisted of 10 questions on a 5-point Likert scale with 5 as strongly agree and 1 as strongly disagree. The table indicates the regression weight and critical ratio test that signifies only financial attitude (***, p < 0.05) and financial behaviour (***, p < 0.05) have a strong association with financial literacy level of working women in Delhi. Feeble money management can influence the behaviour of consumers in such a way that make them more sensitive to a financial crisis. His research areas include corporate finance, risk management and security analysis. Financial knowledge, another independent variable, has been examined with the measurement model proposed by Bhushan and Medury (2014) and Hasler and Lusardi (2017). To evaluate the financial knowledge of women, they included the questions related to risk diversification, inflation, numerical ability and interest rates in the questionnaire (Lusardi & Mitchell, 2008). The email address and/or password entered does not match our records, please check and try again. The main objective was to determine how financial literacy influences investment decisions of individuals.The study utilized descriptive research design and targeted 100 employees working for SDA church in kenya. According to OECD (2013), financial behaviour is very important and a fundamental component of financial literacy. If there is a question you do not feel comfortable answering, you may skip it. He can be reached at [email protected]. A structured questionnaire designed on a 5-point Likert scale has been used based on purposive sampling, and the goodness of fit is determined by analysis of moments structures (AMOS) by … 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. Financial attitude is an independent variable for which the scale developed by Shockey (2002) and OECD (2013) have been used. Twenty-five teachers received training in December 2017 and subsequently conducted 30 trainings for 601 students in West Java from January through May 2018. Bonga and Mlambo (2016) highlighted concern on financial literacy improvement among women, particularly in developing nations. Kamini Rai is working as an associate professor at Rukmini Devi Institute of Advanced Studies with rich experience of more than 8 years in academia. A combination of dichotomous and Likert scale questions were used for the survey. Developing better financial … Thus, the findings of this study support H1 and H2, but it does not support H3. Thus, it has become essential to examine the determinants of financial literacy and to recognize its importance among working women. 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 study also concluded that women score higher in financial attitude than in financial behaviour and financial knowledge, but men score less than women in financial attitude. Check the financial knowledge, financial behaviour and financial attitude of working.! ’ s positive attitude towards finance and money can affect their behaviour to achieve literacy... Declared no potential conflicts of interest with respect to the use self-administered questionnaire in survey... 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