Financial literacy has assumed greater significance in the recent years, as financial markets have become increasingly complex and there is also an information asymmetry among market participants leading to making informed choices more and more difficult for the common person. The most common definition of financial literacy is the ability to make appropriate decisions in managing their personal finances India is among the world‘s most efficient financial markets in terms of technology, regulation and systems. It also has one of the highest savings rate in the world -our gross household savings rate, which averaged 19% of gross domestic product (GDP) between 1996–97 and 1999–2000, increased to about 23% in 2003–04 and has been growing ever since Advanced financial literacy covers the ability to understand the financial concepts like asset allocation, diversification, investment planning etc. Knowledge of such advanced financial literacy concepts will definitely add value in investment behaviour of the investors. The present paper aims to study the advanced financial literacy among the working women of Punjab. Efforts have been made to know the association between age and advanced financial literacy among the working women in Punjab. Further, an attempt has been made to highlight the Self assessed Advanced Financial Literacy of working women of Punjab.
Advanced Financial Literacy, Asset allocation Financial Markets, Financial Instruments, Financial Institutions
