Financial literacy: A holistic perspective

Financial literacy is the first step towards financial inclusion. This paper discusses financial literacy from a much wider perspective under the premise that a holistic view of financial literacy needs to be taken. It must include awareness, knowledge, attitudes and behavior of a person with respect to all aspects of her economic decision—making, viz. expenditure, savings and investment. Efforts for increasing financial literacy could include the knowledge and awareness of a person in all of these aspects.