TO STUDY ON THE LEVEL OF FINANCIAL LITERACY ACCORDING TO DIFFERENT ECONOMIC CLASSES IN BARDOLI REGION

TO STUDY ON THE LEVEL OF FINANCIAL LITERACY ACCORDING TO DIFFERENT ECONOMIC CLASSES IN BARDOLI REGION

KARINA PATEL Student B. V. Patel Institute of Management,

 Uka Tarsadia University-Bardoli

NISHA TOLLAWALA Teaching Assistant B. V. Patel Institute of Management, Uka Tarsadia University-Bardoli

Abstract:

The contemporary study tries to measure financial literacy according to the different economic classes in bardoli region. The study also intended to find a bond amongst demographic and socio-economic factors through financial literacy. To resolute the financial study, the data were collected through a structured questionnaire. The research reveals that there is a good level of knowledge about investment avenues amongst investors in bardoli region rendering to different economic classes. A sample of 100 respondents was taken to research the level of financial literacy among the different economic classes in the nearby bardoli region. The data was scrutinised through SPSS software. In the questionnaire, there were general knowledge questions to identify the level of financial literacy of an individual and Likert scale type questions were comprised. The Test applied in data analysis were Frequency & percentage analysis, One-Sample Test, Other non-parametric tests like Mann- Whitney U & Kruskal- Wallis H Test.

Keywords:

financial literacy, demographic and socio-economic factors, unmanageable debt burdens, housing foreclosure, Financial Institution, Financial Adviser and personal finance.