Effect Of Financial Literacy On Personal Financial Management Of IT Employees In Kerala
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 8
Abstract
Today’s complex financial service markets offer consumers a vast array of products and services to meet their financial needs. The degree of choice requires that consumers be equipped with the financial knowledge and skills to evaluate the options and identify those that best suit their needs and circumstances. The role of financial literacy with regards to sound personal finance management practice is a question many struggle with. Employees in the IT sector who are having less knowledge about various financial instruments as they comes from non commerce stream. So study on this particular area will gain importance. A multi-stage random sampling method has been used for selecting the respondents for the purpose of the study. The findings show that there are lot of factors strongly influenced the personal financial management. The results conclude that majority of the respondents save less proportion of their salaries. This can be attributed to the high cost of living hence their investments are financed through loans. It is very important for every individual to plan and manage their personal finances in order to lead a happy live. It is important for every individual to have personal financial plan in order to meet their financial goals and obligation, help to retire in comfort, achieve financial freedom, make rational financial decisions and take advantage of every financial opportunity.
Authors and Affiliations
Sarath Chandran M. C. , Renju Chandran
Keywords
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