Name: Amit Mohindroo
Country: India

Year: 2024
Volume: Volume-11, Issue-1 (January-June)
Page Number: 48-59

Abstract
Financial literacy has emerged as a critical determinant of individual financial well-being,
particularly in an era marked by expanding digital finance, increasing product complexity,
and rising susceptibility to financial risks and frauds. Understanding the factors that shape
financial literacy is essential for designing effective educational programmes and fostering
inclusive financial development. This study examines the key predictors of financial literacy
among residents of the Tricity region (Chandigarh, Panchkula, and Mohali). Drawing upon
an extensive literature review, seven dimensions—financial knowledge, financial awareness,
financial experience, financial skills, financial capability, financial goals, and financial
decisions—were identified as potential determinants. A stepwise multiple linear regression
analysis was conducted separately for male residents, female residents, and the overall
sample to assess the individual and collective significance of these variables. The findings
reveal distinct gender-based variations in the factors influencing financial literacy.
Keywords : Financial Literacy, Financial Awareness, Financial Skills