A Study on Financial Literacy Relationship between IT Sector and Educational Sector Respondents Umamaheswari K*, Dr. Krishnan Rajeswari** *Assistant Professor, Dr.N.G.P Institute of Technology, Department of Business Administration, Coimbatore, India **Principal, Sree Narayana Guru Institute of Management Studies, Coimbatore, Tamilnadu, India Online published on 2 August, 2016. Abstract In today's world, the ability to manage personal finances has become progressively more important. Financially literate individuals can make an effective use of the financial products and services by evaluating the associated risks and returns and choosing the financial products which are suited for them. The purpose of this paper is to carry out the level of financial literacy and the financial planning among IT sector and Educational Sector Employees. The study analyses the money management, financial – literacy, planning, financial instruments considered as a most preferable to Investment Purpose, investment risk tolerance and the Factors Influencing the Selection of Investment by the individuals while making investment decisions. The finding of the study reveals that the financial literacy level of the respondent is very low in both the sectors and it gets affected by the income level of the individual and nature of the job. The study suggests that lack of proper financial literacy would lead to terrible savings and investments practices which can lead to financial problems. Findings of the study help the government, SEBI and financial institutions to tune the appropriate strategies in order to increase the level of financial literacy among the individual. Since young workers will face a dangerous situation to deal with the complexity of current global financial markets and products. As social responsibility, the employer can take responsibility for conducting a financial literacy programme to their employees to reap the benefits of the personal finance planning, economic growth will be stimulated. Top Keywords Investment Awareness, Investment Practices, Preferences, Financial Products, IT & Educational Sect. Top |