Towards Financial Empowerment: Understanding the Financial Literacy of Working Women

This study delves into the financial literacy landscape among working women in India, through a meticulous blend of systematic review and empirical analysis. Employing the PRISMA methodology, a comprehensive literature review uncovered 364 pertinent articles spanning from 2002 to 2024. Subsequent bibliometric, keyword, and journal citation analyses shed light on the pivotal role of financial literacy, financial inclusion, and women within this discourse. Empirical investigation involved 233 working women in India, surveyed via a structured questionnaire to gauge financial knowledge, behavior, and attitude. Results unveiled a worrisome trend of suboptimal financial literacy, with average scores falling short of desirable levels. Statistical scrutiny revealed significant correlations between financial literacy and its facets, emphasizing the urgency of bridging knowledge gaps and fostering positive financial behaviors and attitudes. The study advocates for bespoke financial literacy initiatives tailored to working women and beyond, stressing collaborative efforts between governmental bodies and financial institutions to craft comprehensive educational endeavours aimed at bolstering financial literacy and empowering women to make well-informed financial decisions. Future research avenues should explore demographic influences on financial literacy and expand geographical scope to offer broader insights into the challenges and prospects of promoting financial empowerment among women.