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Sangmi, Mohi-ud-Din
- Relationship between Financial Literacy and Personal Financial Wellbeing:An Empirical Study
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Authors
Affiliations
1 Department of Business and Financial Studies, University of Kashmir, Srinagar, IN
1 Department of Business and Financial Studies, University of Kashmir, Srinagar, IN
Source
Abhigyan, Vol 34, No 3 (2016), Pagination: 37-46Abstract
The inability of people to properly take a well thought out financial decision is the main reason that most of the time they are not able to achieve financial well being. The purpose of the present paper is to study the relationship and measure the impact of financial literacy on financial wellbeing of individual respondents. The questionnaire has been used for this purpose wherein various variables were identified. The study results indicate that the level of financial literacy has a high positive correlation with personal financial wellbeing. It also shows that in line with previous studies, financial literacy has a significant impact on financial wellbeing, consequent upon this, financial literacy is considered an important predictor of financial wellbeing. This study is also expected to add value to the domain of importance of financial literacy in current financial world and to ensure better financial planning in an emerging economy where the present study is a maiden attempt by the researchers.Keywords
Financial Literacy, Financial Wellbeing, Predictor, Satisfaction, Working Individuals.
- Microfinance and Women's Economic Empowerment: An Experimental Evidence
Abstract Views :247 |
PDF Views:1
Authors
Affiliations
1 Assistant Professor, Department of Accounting, College of Business Administration, Jazan University, SA
2 Professor, Department of Commerce, University of Kashmir, IN
1 Assistant Professor, Department of Accounting, College of Business Administration, Jazan University, SA
2 Professor, Department of Commerce, University of Kashmir, IN
Source
Abhigyan, Vol 38, No 3 (2020), Pagination: 10-19Abstract
This study attempts to examine impact of Microfinance on economic empowerment of women. Following Multi- Stage (mixed) Sampling, the data has been gathered using Structured Interview Schedule from 370 Self Help Group women members from rural areas of Kashmir Division formed and nurtured under Umeed scheme of the flagship program - National Rural Livelihood Mission. The present study employed Quasi-Experimental Design that consists of 190 program (treatment) and 180 comparison group members (control). In order to compare the two groups on empowerment indicators, Independent Samples Test has been mainly utilized. The results indicate positive and significant differences between the two groups in economic empowerment indicators – independent income, independent savings, asset generation, control over household income, control over household savings as well as control over large purchases. However, the study reveals larger impact on two indicators of economic empowerment – independent savings and asset generation as shown by Effect Size. It is concluded that Microfinance significantly impacts women's economic empowerment. This study is believed to grab the attention of the policy makers towards further strengthening the program to reap its constructive benefits towards Poverty Alleviation. Due to Multi-dimensional nature of empowerment, the future studies would examine impact of Microfinance on non-economic empowerment as well and extend geographical area.Keywords
Microfinance, SHGs, Women's Economic Empowerment, Quasi-Experimental Design, Independent Samples Test.References
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