Financial literacy: an analytical study of residents of Punjab

Financial Literacy is basic knowledge of finance and ability to apply that knowledge to make informed decisions so as to improve his or her overall financial wellbeing. In this research attempt has been made to assess the financial literacy level of residents of Punjab. Data has been collected from eight cities. Further the study analyses the relationship between financial literacy and demographic variables such as age, gender, income and education. It has been observed in the study that in terms of overall financial literacy Ferozepur, Ludhiana and Jalandhar are high scorers. Gurdaspur, Patiala, Bathinda needs concentrated efforts to improve financial literacy.