Financial Literacy and Awareness About Systematic Investment Plans (Sips) Among Residents of Ahmedabad District

This study examines SIP knowledge and financial literacy among residents of Ahmedabad District. The growing popularity of SIP as a disciplined and flexible investment vehicle has not made a number of people aware of its strengths, weaknesses, and long-term wealth creation potential. The study was carried out to assess the extent of financial literacy, test attitudes, and identify SIP investment willingness determinants. A 70-questionnaire was employed to gather information from respondents randomly drawn from semi-urban and urban areas of the district. Chi-square and ANOVA one-way tests were employed to assess data and identify correlations between demographic variables (education, age, and income) and SIP knowledge, attitudes, and investment willingness. No statistically significant correlations between demographic variables and SIP awareness or investment willingness were found, indicating the need for more comprehensive financial education programs. The study recommends awareness campaigns and customized financial advice to encourage well-informed investment behaviour.