Published Paper Details:

Financial literacy is a multifaceted concept and is considered to be one of the most researched areas and also a crucial component which envisages financial inclusion. It encompasses across all the levels of societies and economic strata. The lack of understanding the concept of financial literacy would result in poor investment decision making. Therefore, financial literacy acts as a catalyst which can improve the quality of life, as it boosts the savings and investment decision taken by individuals to ensure a safe and secured future. The paper is an attempt to methodically use a case study approach of women in Sadalga Taluka, Chikkodi" in order to understand the in-depth concept of financial literacy and its impact on investment decision making. The objective of the study is to closely examine the literacy levels of women using 4 demographic factors namely age, income, occupation and education level and also assess the components like Financial Awareness and Knowledge of Financial Products, Attitudes towards Savings and Investments, behaviour towards Savings & Investments and Financial Motivation were analysed in the research. It also encompasses the analysis of the influence of 4/2 demographic factors that impact the savings and investment decisions. The primary data for the study has been collected by developing a questionnaire as a survey tool consisting of 34 questions through convenience sampling technique and also conducted a face-to-face interview method. The four components namely, 129 women respondents belonging to varied economic, social and financial background residing in Sadalga village in Chikkodi. The data has been analysed using frequencies, percentages and cross tabulation. The findings of the study reveal that; although women having a reasonable income-generating employment backed up by their family bread-winners, they possess lesser financial knowledge. Majority of women (66%) respondents are well educated and belonged to the "others" (other than agriculture) category of occupation. They are presumed to be occupants of agriculture or running their family-owned businesses. It points to the understanding that the respondents with higher income levels have not sensed the need for financial literacy and knowledge on avenues of investment. The women who hold an above the average annual income are more motivated to invest in good investment avenues and are more inclined to make informed decisions for future. From the survey conducted and the interview, it was observed that a minimum percentage of women (32%) had lower level of financial literacy, and such individual women preferred gold investment as a conservational investment option.