Economic Empowerment and Entrepreneurship: Assessing Financial Literacy and Its Influence on Saving Practices and Financial Decision-Making among Working Women in Vadodara Region
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2026
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| author | Dr. Neelam Prasanjit Bhuinya |
| author_facet | Dr. Neelam Prasanjit Bhuinya |
| contents | <p>This research paper examines the level of financial literacy among working women in Vadodara region and how does their financial knowledge impact their saving habits, budgeting, awareness about different financial products in the market and how confident are they in making independent financial decisions. The paper also tries to explore the importance of digital financial services in making women financially independent. This study adopts a quantitative approach, through primary source of data collected from 104 working women in Vadodara location. Various non-parametric statistical tests were conducted to analyse the data and find the relationships among the key variables of financial literacy. The study reveals that though women have strong saving behaviour and active usage of digital financial services, however the respondents had poor awareness about the basic concepts of personal finance, including budgeting, emergency fund planning, investment, and retirement planning. The findings indicates that a significant proportion of respondents lacked confidence in taking financial decisions independently and they mostly rely on the advice of their family members. This shows that there exists a significant gap between the usage of digital financial services and financial literacy. Thus, based on the findings it is suggested to have well-organized financial literacy programs, especially for women to make women independent in financial decision making. These kinds of trainings not only boost the financial confidence among the women but also helps them in making proper financial decisions thereby creating a sense of financial security. With changing financial technology training women in digital financial services will empower women financially.</p> |
| format | Recurso digital |
| id | zenodo_https___doi_org_10_5281_zenodo_19427537 |
| institution | Zenodo |
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| publishDate | 2026 |
| publisher | Zenodo |
| record_format | zenodo |
| spellingShingle | Economic Empowerment and Entrepreneurship: Assessing Financial Literacy and Its Influence on Saving Practices and Financial Decision-Making among Working Women in Vadodara Region Dr. Neelam Prasanjit Bhuinya <p>This research paper examines the level of financial literacy among working women in Vadodara region and how does their financial knowledge impact their saving habits, budgeting, awareness about different financial products in the market and how confident are they in making independent financial decisions. The paper also tries to explore the importance of digital financial services in making women financially independent. This study adopts a quantitative approach, through primary source of data collected from 104 working women in Vadodara location. Various non-parametric statistical tests were conducted to analyse the data and find the relationships among the key variables of financial literacy. The study reveals that though women have strong saving behaviour and active usage of digital financial services, however the respondents had poor awareness about the basic concepts of personal finance, including budgeting, emergency fund planning, investment, and retirement planning. The findings indicates that a significant proportion of respondents lacked confidence in taking financial decisions independently and they mostly rely on the advice of their family members. This shows that there exists a significant gap between the usage of digital financial services and financial literacy. Thus, based on the findings it is suggested to have well-organized financial literacy programs, especially for women to make women independent in financial decision making. These kinds of trainings not only boost the financial confidence among the women but also helps them in making proper financial decisions thereby creating a sense of financial security. With changing financial technology training women in digital financial services will empower women financially.</p> |
| title | Economic Empowerment and Entrepreneurship: Assessing Financial Literacy and Its Influence on Saving Practices and Financial Decision-Making among Working Women in Vadodara Region |
| url | https://doi.org/10.5281/zenodo.19427537 |