Published Paper Details:

Recently, there has been a rise in the number of people who simply do not possess the adequate amount of financial literacy that is required in order to make sound financial decisions. Therefore, the purpose of this research is to study the amount of financial literacy that Mumbaikars have as well as to evaluate the various sources through which this financial information can be obtained. Using survey filled by 165 respondents across Mumbai, this study analysed the behaviour and attitude of people in Mumbai towards financial literacy. The results proved that in multiple instances where people chose to invest money, not everyone had any sort of proper financial knowledge. Also, comparatively men had more financial knowledge. The study definitively answers the question regarding literacy levels and how it affects the financial behaviour of a person. However, further studies are needed to establish causal relationships and develop methods to make financial literacy more accessible.