Business, Management and Accounting
3 years ago

Financial literacy impacts household decisions in West Bengal, affecting savings and investments.

International Journal of Economics and Financial Issues
IMPACT OF FINANCIAL LITERACY ON HOUSEHOLD DECISION-MAKING: A STUDY IN THE STATE OF WEST BENGAL IN INDIA
Shubhra Biswas, Arindam Gupta

Paper Summary

Financial literacy in West Bengal affects household decision-making. Female and rural respondents have lower financial literacy. Higher income and education lead to better financial literacy. Financial literacy influences saving, investing, and borrowing positively, but borrowing quality negatively. Retirement planning is not significantly impacted by financial literacy.

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