SOCIAL EMANCIPATION OF WOMEN THROUGH FINANCIAL LITERACY AMONG BLUE COLLAR WORKERS IN BANGALORE

Abstract

Low levels of financial literacy in India continue to persist, especially amongst blue-collared working women. Traditional patriarchal practices continue, where it is observed that “single women outperform married women in terms of their financial literacy score.” Furthermore, women have performed better in financial attitude than in financial knowledge, highlighting low financial literacy levels. (Arora, 2016). In order to bridge the gender finance gap, a not-for-profit organisation, FINWIN conducted a series of workshops for women blue collared workers in Bangalore. The research study is based on the pre-workshop and post-workshop survey undertaken by 45 women who were a part of the course. The aim of the research was to investigate the financial literacy levels of the blue collared women workers in Bangalore. The survey, translated into the regional language was handed out to all the women where they filled in three sections: background, decision making habits and pre-workshop survey. After the workshop was delivered, a post-workshop survey was handed out to see the difference in financial literacy levels and the effectiveness of the workshop. Most modules were reported to be a success as the majority of the women were able to apply the new knowledge gained. This research study paves a path for the financial literacy workshop modules to be refined further, concepts addressed in the workshop can be applied in real life by the women blue collared workers to work towards achieving financial independence and away from patriarchal practices. Lastly, the survey not only tests one’s level of financial literacy but the co-relating psychological impact on one’s self confidence which has scope to be researched further.