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Asian Journal of Management
Year : 2017, Volume : 8, Issue : 4
First page : ( 1115) Last page : ( 1119)
Print ISSN : 0976-495X. Online ISSN : 2321-5763.
Article DOI : 10.5958/2321-5763.2017.00170.6

An Empirical Study on Financial Literacy and Spending Behavior of Rural Household in India

Jayanthi M.1,**, Rau SS.2,*

1Research Scholar, Sathyabama University, Chennai

2Research Supervisor, Sathyabama University, Chennai

*Corresponding Author E-mail: ssrau@rediffmail.com


Online published on 2 June, 2018.


Financial literacy is a challenge in rural household people and remote population in India, also its plays a key role in an economic prospect. Financial knowledge mean ability to deal with everyday financial matters and make the right choice in spending, borrowing, budgeting, savings and investment decisions. Now-a-days access of financial service is decreasing and unnecessary spending is increasing from lower income people who are living in a rural area. Managing money is a vital element to achieve a quality life of individuals because spending habits will influence the managing money of people. The lower level of financial knowledge will contribute to poor financial decisions and that can be harmful to both individuals and society. This study examines levels of financial literacy and spending behaviors of rural household in India. The pilot study was conducted in India sample size of this study was 92. This study result reveals that Low level of financial literacy leads to poor in spending behavior of rural household individuals.



Financial literacy, Spending behavior, Rural household, India.


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