Financial literacy implies the ability of individuals to understand, manage, and plan their personal finances. By gaining financial literacy, people are likely to develop critical thinking, judgment, and other skills for making informed personal finance decisions. The current study has attempted to review the financial literacy research papers in a systematic manner incorporating the multiple facets ranging from impact of demographic factors to present state of financial literacy literature in the Indian context. Papers published by selective global publishers in the last two decades have been reviewed to trace the trend, the debates and literature gap in shaping the future studies.
Keywords: Systematic Literature Review, Academic E-journals, Financial Literacy and Financial decisions.
Literature has concurred that ‘Financial Literacy’ (FL) is one’s ability to make informed decisions on choosing investment avenues, ability to balance a cash book and manage funds effectively (Beverly & Burkhalter, 2005; Hung, Parker & Yoong, 2009).Read Full Article