Assessment Of Financial Literacy Among Socially Underprivileged Groups In Special Reference To Chittur Taluk.
DOI:
https://doi.org/10.48047/w6p0kj50Keywords:
financial literacy, socially disadvantaged groups, low-income householdsAbstract
Financial literacy is a crucial skill for effective money management, yet socially disadvantaged groups often face significant challenges in acquiring and applying financial knowledge. This study assesses the level of financial literacy among marginalized populations, including low-income households, minorities, and individuals with limited educational opportunities. Using surveys and interviews, the research examines their understanding of budgeting, saving, debt management, and investment. Findings indicate that financial literacy levels are generally low in these groups due to factors such as limited access to financial education, socio-economic barriers, and distrust in financial institutions. The study highlights the need for targeted financial education programs, policy interventions, and community-based initiatives to enhance financial awareness and decision-making among disadvantaged individuals. Improving financial literacy in these groups can contribute to economic stability and empowerment, ultimately reducing financial inequalities.
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References
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