Financial literacy in state of Gujarat

As quoted by Mrs. Malti Chijwani in one of her research works, “Financial literacy means understanding of personal financial matters. It is ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being.” Low level of financial literacy can lead to financial decisions that can have adverse effects on the financial health of an individual or can weaken the budgetary strength of a person. There are various surveys carried out throughout India about the financial literacy which reveals that there is low rate of literacy. (Chijwani, 2014). This study tried to explore the financial literacy of investors in Gujarat. The objective of the study is to check the financial literacy of people who are investing. Here, variables like gender, income, education, occupation and marital status relationship with financial literacy is checked. It was found that in rural areas financial literacy is less than urban. There is relationship between financial literacy and income, occupations, marital status etc.