Exploring Financial Literacy Levels: Insights from College going Students of Gujarat State

Abstract

The development of financial inclusion and, eventually, the maintenance of financial stability in India depends heavily on financial literacy. Financial literacy is a change agent for financial inclusion, according to the RBI's agenda. The RBI wants to raise public knowledge of financial services and products. The daily financial market will grow increasingly complex since financial products and services are a concern. Which role do the pupils play? Do they have the requisite skills to make sound financial decisions? Can they anticipate their demands in terms of money? How do they take care of their money needs? Educating yourself on finances is one way to answer their questions. The degree of financial literacy among Gujarati college students is being investigated by a researcher using a straightforward random sampling approach. Students performed averagely in financial knowledge and, the researcher concluded that their level of financial literacy is average. Financial planners and friends have less of an influence on financial understanding than environmental factors like parents and life. Students' financial attitude and conduct are significantly influenced by their average financial literacy, which correlates with these factors.