Financial Literacy : Promoting Fundamentals to Improve Financial Wellbeing among the Youth

Abstract

The best investment you can make is an investment in yourself. The more you learn, the more you’ll earn. - Warren Buffett. Financial literacy is a concept which is very important for all age groups to know. It prepares any person to create and manage his daily life as well as his future financially. Financial literacy means handling money wisely. It includes having a basic understanding of the fundamental roots of money such as debt, budgeting, saving and investing. Anyone can create wealth throughout his life by taking advantage of the power of these concepts of finance. These capabilities help the individual to achieve various life objectives including family planning, education, and retirement and even spending on luxuries. Therefore, it is very important that our young generation also understands financial concepts and takes financial decisions wisely. This study is an attempt to show the awareness of our young students, so that it can be known how much the youth knows about financial matters. The main objective of this research paper is to study about awareness of financial literacy among young students in Baddi Barotiwala Region. This research information was mainly gathered by collecting primary data with respect of 80 respondents with the help of questionnaire and has been analyzed through statistical analysis and tools.