An Empirical Study on Financial Literacy Level of Salaried Females in Delhi

After promoting women employment, it is of immense need for our economy to take into consideration the fact that where and how they are spending or investing their funds. For appropriate utilization of funds, women need to be financially literate. In a metro city, Delhi, this study is conducted to determine the level of financial literacy among Salaried Females. Financial Literacy is a sum of financial attitude, financial behavior and financial knowledge. In the given study these three variables were analyzed to determine the level of financial literacy among working women in Delhi. It has been determined that the level of financial attitude score, financial behavior score, financial knowledge score and financial literacy score is not at par as desirable. The hypothesis of average scoreshas been tested by applying t-test which confirms the deviation in the values. Also the correlation between the three variables and Score of financial literacy is also determined. The methodology used is similar to the methodology recommended by OECD INFE in their studies on Financial Literacy. The results concluded that there is an average level of financial literacy among the salaried females of Delhi, which is matter of concern.