Abstract
The purpose of this paper is to build a model that investigates the effects of financial behaviour, financial attitude, and financial knowledge on the financial literacy level possessed by individuals in northern India. In addition, we also examine the impact of financial literacy on the financial planning, financial decision-making, and investment decision-making of individuals in northern India. Structural equation modelling was used for analysis of the collected data. The findings of the study indicate that three dimensions of financial literacy, i.e., financial knowledge, financial behaviour, and financial attitude, have positive impacts on the financial literacy of the individuals attending financial literacy programmes in northern India. In turn, higher financial literacy is strongly related to sound financial planning, financial decision-making and investment decision-making of individuals in northern India. The findings of this study may help to understand the financial literacy level of a population surveyed and policymakers can create strategies for the development of financial knowledge, financial behaviour and financial attitude of individuals.
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