Money Management Among the Individual Working Personnel in India – A Study with Special Reference to Coimbatore District

Dr Umamaheswari K Et Al

doi:10.17762/pae.v58i2.1852

Abstract

Now a day’s, money management - financial literacy becomes a foremost challenge faced by most of the developed and developing countries globally. The reviews evidenced that the monetary management level of the individual in India is low. This made the researcher to study the behavioural pattern of the monetary management. As enough research has been carried out by various researchers in this aspect, the researcher considered Coimbatore city which is listed as one of the smart city in India for her study. Coimbatore is known for the place of industrialized, blended of unique culture, no comprehensive study was carried out to study the various aspects of monetary management among the employees.

Highlights

IntroductionMoney managementMoney management is the method of forecasting and tracking the use of capital/money by an individual or group
Money management is the method of forecasting and tracking the use of capital/money by an individual or group
The majority of the respondents (29%) are responsible themselves for day-to-day household money management decisions

Summary

Introduction

Money managementMoney management is the method of forecasting and tracking the use of capital/money by an individual or group. In the concept of personal finance, the money management comprises budgeting the cost, the spending habit, how they save and investing. Money management plays an important role in reducing unnecessary expenses which would not increase the worth of a person’s living standards. Proper monetary management will lower the risk on running deficit of money and allows individuals to attain their long-term financial goals. Money plays a major role in all of our lives. A days many people occupy their energy and time on earning more money. It is important to know the art of money spending which helps them to plan, budget and save, promise for long term benefit. Learning about the money management is considered as a foremost steps to achieve the financial goal

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Conclusion