Determinants of working women's financial behaviour: an Indian study

Advancements in financial system and technology, enlarged individual responsibility for financial decisions, and rapid information expansion, have fundamentally transformed women's need to be functionally literate and financially capable, especially after the COVID-19 pandemic. The personality also has long term implications on financial well-being. The aim of the paper is to study the dominating role of financial attitude, financial awareness & skills, and financial behaviour on financial competence and the moderating role of personality on financial knowledge, financial behaviour, financial attitude, and financial capability. Multi stage stratified random sampling has been used to collect data from 530 urban working women in both the Public and Private sectors, self-employed professionals, and entrepreneurs. Smart-PLS is used by applying Structure Equation Modelling (SEM) to study the moderating role of personality on financial attitude, behaviour, knowledge, and capability. Further the Chi-square test and Tukey test and Kruskal Wallis Test are used to test the hypothesis. The study found that Financial Knowledge of working women with gold personalities influences their financial capability (Beta, 0.578) the most, While, Financial Behaviour is the primary influencer having green (Beta, 0.396) & blue (Beta, 0.638) personalities. Working women having Green Personality are found to be superior with respect to Financial Behaviour, Financial Capability and Financial Knowledge. It is also observed that working women having blue personality characteristics, have comparatively better financial attitude.

This research is focused on small businesses, as the growth of small businesses is a source of economic income in the Ponorogo City sub-district. The sales profit generated by small businesses each month is still relatively small and often decreases. These conditions reflect that the ability to generate profits in small businesses has not shown an increase in sales profit. This study aims to analyze the effect of financial inclusion, financial literacy, and fintech on small business profitability, with financial behavior as an intervening variable and financial quotient as a moderating variable, in the Ponorogo City District. The study sample consisted of 112 small businesses in the Ponorogo City District. The study employed the Smart Partial Least Square (PLS) method with an outer model and inner model test analysis. The results of this study indicate that financial inclusion has a significant effect on profitability, financial inclusion has a significant effect on financial behavior, financial literacy has a significant effect on profitability, financial literacy has no significant effect on financial behavior, fintech has no significant effect on profitability, fintech has a significant effect on financial behavior, financial behavior has a significant effect on profitability, and financial quotient cannot moderate the effect of financial inclusion on profitability. The moderating effect of financial quotient on the relationship between financial inclusion and financial behavior, financial inclusion and profitability, financial literacy and financial behavior, financial literacy and profitability, and fintech and profitability was not significant.

This study aims to explore the impact of individual income, cashless payment system utilization, and love of money on college students' financial behavior, with financial literacy as a variable strengthening this relationship. The respondents in this study were students from STIEM Bongaya. The analysis method used was Partial Least Squares (PLS) with a measurement model and structural model approach. The findings from the test indicate that individual income and financial literacy have a significant positive impact on college students' financial behavior. Conversely, cashless use and love of money do not show a significant influence on financial behavior. Furthermore, financial literacy does not function as a moderating variable in the relationship between individual income, cashless use, and love of money on financial behavior. The R-square value of 0.662 indicates that the independent and moderating variables can explain 66.2% of financial behavior, while the Q-square value of 0.541 indicates that this model has good predictive relevance. The implications of this study indicate the need to improve financial literacy among university students through well-designed educational programs to foster prudent and responsible financial attitudes. Future research is recommended to incorporate other variables, such as psychological and social factors, or the use of financial technology (fintech) to predict financial behavior.

This study aims to analyze family financial management using an integrative approach that combines financial literacy, financial behavior, and socio-cultural factors. The method employed is a literature review with a systematic approach and triangulation for validating the findings. Literature sources were obtained from various international academic databases and accredited national journals, focusing on research related to family financial management from 2000 to 2024. The results of the study indicate that family financial management is a complex phenomenon influenced by the interaction between financial literacy, financial behavior, psychological factors, and socio-cultural elements. High financial literacy plays an important role, but behavior change supported by psychological factors such as self-control and active planning is key to successful financial management. Additionally, socio-cultural and demographic factors also influence family financial decision-making. The conclusion of this study is that family financial management requires a multidimensional approach, involving literacy, behavior change, and psychological factors. Recommendations include the need for educational programs that focus on actual behavior change, integration of psychological aspects, contextualizing educational materials according to local culture, and emphasizing long-term financial planning with a differentiated approach for various family segments.

Financial literacy is an ability of individual to take considerable decisions in respect of the effective and efficient utilization of money. In present study, authors have presented an association of financial knowledge, financial behaviour and financial attitude towards the financial literacy level among working women in Delhi, India. The sample size of 394 working women from various public and private organizations of Delhi has been incorporated for the research. 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 applying structural equation modeling approach (SEM). The association between three independent variables is investigated applying path analysis for hypothesis testing. The findings revealed that financial attitude and financial behaviour have strong association with financial literacy of working women than financial knowledge.

This study aims to determine the role of parents in providing financial education to Generation Z students at UPN Yogyakarta and how this education impacts their financial behavior. Utilizing a phenomenological research approach, the study involved in-depth interviews with ten respondents from UPN Yogyakarta. The research explores the factors that lead these students to recognize the importance of financial education imparted by their parents, along with other psychological and economic factors that underscore the necessity of financial literacy for wise money management. The findings reveal several key insights. Firstly, parents significantly shape their children's financial behaviors, with those who receive early financial education from their parents demonstrating better money management skills. Secondly, students who did not receive financial education from their parents often turn to digital platforms like YouTube and Instagram to gain financial knowledge. Thirdly, students from economically disadvantaged backgrounds are more likely to seek financial literacy independently to avoid financial pitfalls. Additionally, psychological factors, such as self-awareness and resilience, play a crucial role in shaping financial behavior. Lastly, there is a notable variation in financial literacy among the respondents, influenced by their family backgrounds and the financial education they received. These results underscore the importance of parental involvement in financial education and the need for targeted strategies to enhance financial literacy among students, particularly those from less privileged backgrounds. The study highlights the potential benefits of incorporating financial education into early childhood development to foster prudent financial behaviors.

Purpose – The reviewed literature emphasized that the student loan debt issues have a lot of connections to the economy. This conclusion is in support with broader evidence that high student debt levels are a drag on economic growth. Additionally, disadvantaged and other vulnerable groups, including students, are more likely to be excluded from the formal, regulated financial sector and not be able to take advantage of mainstream financial service providers (e.g. lack access to credit, insurance, and other formal financial services). Among the primary reasons cited for this financial exclusion has to do with a lack of understanding or familiarity with traditional financial services. The aim of this paper is to look at alternate approaches in promoting financial literacy to manage the huge private debt burden facing this important segment of the population. The purpose of this paper is to advance a model of college students’ financial capabilities enhancement to partially alleviate some of the problems rel...

PurposeThis paper aims to examine and compare the associations between financial capability and financial anxiety (FA) before and during the coronavirus disease 2019 (COVID-19) pandemic. Specifically, financial capability is measured by three indicators: financial knowledge, financial behavior and financial confidence. This study also examines and compares the association among different income groups before and during the pandemic.Design/methodology/approachData are from 2018 to 2021 National Financial Capability Study (NFCS). Structural equation modeling (SEM) is employed to examine the direct and indirect associations between financial capability factors and FA. Furthermore, this paper also conducts multi-group SEM for three income groups to examine the heterogeneous effects of household income.FindingsBoth before and during the pandemic, financial knowledge is directly positively and financial behavior is directly negatively associated with FA. In addition, both financial knowledge and financial behavior are positively associated with financial confidence, which in turn is negatively associated with FA. However, when taking the indirect effects into consideration, the total effects of financial capability factors on FA are all negative. Furthermore, the pandemic has intensified the negative association between financial behavior and FA rather than financial knowledge or financial confidence. Multi-group SEM shows that the positive direct effects of financial knowledge are only significant in the low-income group, while the negative direct effects of financial behavior are only significant in the low- and middle-income groups before the pandemic. However, direct effects of financial knowledge and financial behavior are significant in all income groups during the pandemic.Originality/valueFirst, this study specifies a construct, financial confidence, to proxy perceived financial capability. Second, it examines the mediating role of financial confidence in the association between the other two financial capability factors (financial knowledge and financial behaviors) and FA. Third, it also compares the associations between financial capability factors and FA before and during the COVID-19 pandemic.

Financial literacy is a combination of awareness, knowledge, abilities, attitudes, and behaviors needed to make financial decisions. This study aims to find a behavioral model of financial literacy. This study uses a survey method with a quantitative approach. Respondents involved homemakers in Maros Regency, South Sulawesi, to fill out the questionnaire provided. Path Analysis was used to analyze the data SPSS and Winistep are used as tools in analyzing the data. Specifically, the data analysis used in this study used Structural Equation Modeling (SEM) data analysis techniques. Statistically, the value of the sample covariance matrix must not differ significantly from the population covariance matrix value. Financial Literacy Attitudes had a direct effect on Financial Literacy Behavior. Basic Knowledge of Financial Literacy had a direct effect on Financial Literacy Behavior. Financial literacy behavior is determined by financial literacy attitudes and basic financial literacy knowledge. Therefore, financial literacy knowledge and attitudes need to be improved to improve financial literacy behavior among homemakers. Financial Literacy Attitudes contribute the most to financial literacy factors. financial attitudes that have a more significant influence on financial knowledge in financial management practices.

PurposeThis study investigates the relationship between financial literacy, that is, financial knowledge and financial skills, and market discipline, with financial behavior as the mediating variable. The study uses data from Indonesian depositors in commercial banks to estimate the relationship between the variables.Design/methodology/approachThis study applied an explanatory method with a quantitative approach by surveying 343 Indonesian commercial bank depositors, in both public and private banks. The responses were collected using the purposive sampling technique. This study applied structural equation modeling (SEM) using AMOS software to analyze the data and then to estimate the relationships between financial literacy and market discipline.FindingsThis study shows that financial knowledge, financial skills, and financial behavior can improve market discipline. This study also provides empirical evidence that financial behavior has a mediation effect on the relationship between financial skills and financial knowledge to the market discipline.Research limitations/implicationsThe results show that all financial literacy latent variables have a significant positive effect on market discipline. Financial behavior has a mediation effect on the relationship of financial skills and financial knowledge with market discipline. Depositors with good knowledge of financial products and services, who are skillful in managing their money and who demonstrate good financial behavior can effectively discipline the market. They will punish imprudent banking by actions such as the withdrawal of their funds. Financial literacy significantly enhances market discipline.Practical implicationsThis study provides recommendations for regulators, practitioners, academics, and depositors, that is, the actors in the financial industry, on the need to empower consumers with financial literacy, while also promoting market discipline to recognize the importance of these two aspects for the sustainability of financial stability.Originality/valueThis study provides empirical evidence for the market discipline literature, using a behavioral approach, namely, the action of withdrawal of funds. The study then estimates the relationship between financial literacy, that is, financial knowledge and financial skills, and market discipline, with financial behavior as the mediating variable.

Financial literacy is essential for every individual concerned with public welfare and household portfolio choices. In this study, we investigate the impact of household financial literacy on individuals’ financial behavior using the China Household Financial Survey Data (CHFS) of 2015 and 2017. The results show that financial knowledge has significant current, long-term, and dynamic effects on financial behavior. This finding suggests that financial literacy is an important factor in shaping and improving financial behavior. Second, financial literacy can improve residents’ limited attention, and residents with high attention tend to have formal bank accounts, participate in the stock market, and engage in financial behaviors in situations such as risky financial markets. High attention also helps to improve residents’ financial behavior. This relationship suggests that financial literacy positively impacts formal bank account holding, participation in financial markets, participation in commercial insurance, participation in pension plans, and credit card holdings through limited attention channels that facilitate access to specific financial information. In addition, heterogeneity analysis showed that the impact of financial literacy on financial behavior differs significantly between urban and rural households, between men and women, and between high and low education levels. The study provides valuable insights for policy implications to enhance financial literacy, such as carrying out financial training to improve residents’ knowledge about financial aspects, which further helps to optimize household financial decision-making.

Financial literacy (FL) means the ability to handle money throughout one's life by using information and intellect. Financial management is key to solving financial problems, especially for working women. This study collected responses using a standardized questionnaire and summarized financial literacy based on three elements: Financial Attitude (FA), Financial Knowledge (FK) and Financial Behavior (FB). Data was gathered from 150 working women from the private and public sectors in the Dehradun district of Uttarakhand state in India. The study finds that working women's FA and FL and their FK and FL are positively correlated. Financial behavior shows an adverse effect on financial literacy. Individual female investors may use this knowledge to make informed decisions. The unique aspect of this study was that it examined for the first time the variables, including FK, FA & FB associated with FL focusing on working women in the Dehradun district of Uttarakhand, India

Financial literacy is shown to be an important life skill for people. It influences people every day financial decisions and has a macro impact on the economy and financial satisfaction of the society. Studies revealed financial literacy to cover three dimensions: financial knowledge, financial attitude and financial behavior. This research aims to examine the interrelationship between the three components of financial literacy. The main objectives of the current research are: a) firstly, to provide some evidences of the existing literature on the linkage between financial knowledge, financial attitude and financial behavior; b) secondly, to inspect this association in the case of Albanian university students; c) thirdly, to investigate the mediating effect of financial attitude on the connection between financial knowledge and financial behavior; d) finally, to present some conclusions and recommendation for parents, school and future researchers. The main research questions addressed in this study are: 1) Is there any relationship between students’ financial knowledge and their financial attitude and behavior in the case of Albania? 2) Does financial attitude serve as a mediator factor between financial knowledge and financial behavior? The database for this investigation is provided by a survey conducted on 637 students from eight universities in Albania and is part of my dissertation study. Person correlation technique and linear regression model will be employed to analyse the database. Results of this study demonstrate a statistically significant relationship between the three components of financial literacy. In addition, financial attitude is discovered to play a mediating effect on the association between financial knowledge and financial behavior. Future research can be undertaken to explore whether financial knowledge serves as a mediator in the linkage between financial attitude and financial behavior.

Small, Micro, and Medium Enterprises (MSMEs) play an important role in various economic activities globally. The success of an MSME depends on the manager or manager of the MSME. Financial literacy enables MSME managers and owners to decide well on the financial decisions that must be taken. This research aims to determine the influence of financial knowledge, financial attitudes, financial behavior, financial literacy on the growth of MSMEs. The sample for this research is MSMEs assisted by the Department of Cooperatives and Trade and Micro Enterprises in Trenggalek Regency which already has Business Identification Numbers for 91 MSMEs. The analysis tool used is PLS-SEM with WarPLS 8.0 software. The research results show that financial knowledge and financial attitudes do not influence the growth of MSMEs, while financial behavior and financial literacy influence the growth of MSMEs. Financial attitudes, financial knowledge, and financial behavior have a significant effect on financial literacy. Financial literacy is not able to mediate financial attitudes towards financial growth, financial literacy is able to mediate the relationship between financial knowledge and financial behavior towards the growth of MSMEs

Financial literacy is one of the important aspects for organizations to be able to manage their financial resources optimally. This study aims to determine the effect of financial attitude, financial knowledge, and financial inclusion on financial ability with financial behavior as a mediating variable. This study used a sample of 180 from Micro, Small and Medium Enterprises (MSMEs) in the halal product business sector. The data processing technique used in this study is the structural model equation technique using the Smart PLS 3.0 software. The results showed that financial attitude has a positive effect on financial behavior, financial knowledge has a positive effect on financial behavior, financial behavior does not have a positive effect on financial capability, financial attitude does not have a positive effect on financial capability, financial knowledge does not have a positive effect on financial capability, financial behavior does not mediate the positive effect of financial attitude on financial capability, financial behavior does not mediate on the positive effect of financial knowledge on financial capability.