Financial Wellbeing Among Public and Private Sector Employees: A Preliminary Study

Sehrawat, Kanchan; Vij, Madhu

doi:10.17010/ijf/2020/v14i1/149855

Cited by 4 publications

(1 citation statement)

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“…Financial behaviour is found to be the crucial predecessor followed by financial literacy and financial stress in predicting financial well-being (Delafrooz & Paim, 2011;Rahman, 2021). A study conducted by Sehrawat and Vij (2020) to examine the financial wellbeing of Indian public and private sector employees found financial behaviour to be the strongest predictor of financial wellbeing. Higher financial literacy leads to greater financial well-being (Garman, Kim, Kratzer, Brunson, & Joo, 1999;Joo & Grable, 2004;Cude, 2010;Taft, Hosein, & Mehrizi, 2013;Grohmann, 2018;Abdullah, 2019;Nikolaos, 2020).…”

Section: Financial Wellbeingmentioning

confidence: 99%

Financial Literacy and Financial Wellbeing among Indian Households

Mishra¹

2022

IJBM

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This study is conducted to explore the impact of financial literacy on financial wellbeing of Indian households. Various measures like financial knowledge, financial attitude, and financial behaviour were assessed using survey data of 47,132 Indian households taken from the Financial Inclusion Insights (FII) survey, wave 5, conducted by Intermedia. The results from logistics regression indicate that financial knowledge (objective and subjective), financial attitude and financial behaviour are significant predictor of financial wellbeing. It is evident from the study that both financial attitude and financial behaviour of an individual strongly and positively influence financial wellbeing. Though actual financial knowledge might not influence much financial wellbeing whereas subjective financial knowledge i.e., self-assessed financial knowledge might strongly impact financial wellbeing in case of deviation between actual and self-assessed knowledge. Financial wellbeing significantly varies with age, education, working profile and urban-rural area category while gender attribute does not significantly impact financial wellbeing.

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Section: Financial Wellbeingmentioning

confidence: 99%

Financial Literacy and Financial Wellbeing among Indian Households

Mishra¹

2022

IJBM

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Understanding the Influence of Psychological and Behavioural Factors on Subjective Financial Well-being—An Indian Context

Mathew

Kumar

2022

Vision: The Journal of Business Perspective

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This study aims to understand some of the psychological and behavioural factors that drive subjective financial well-being in an Indian context. Family resource management model forms the foundation of the study with financial self-efficacy, propensity to plan and risk aversion as inputs; short-term and long-term financial behaviour as the throughput; and one’s subjective financial well-being as the output. Data was collected by administering a web-based standardized questionnaire on 520 financially active respondents. The hypothesized model was evaluated by structural equation modelling, and results revealed that while financial self-efficacy had a direct positive effect, propensity to plan and risk aversion had an indirect positive impact on financial well-being through one’s financial behaviour. Insights from this study can aid financial practitioners, educators and policy-makers to design intervention programmes to improve such personal traits to help their clients make better financial decisions and enjoy better outcomes.

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A Estabilidade Financeira Impacta O Nível De Alfabetização Financeira Dos Indivíduos?

De Amorim Floriano,

Grigion Potrich,

Pereira Dalla Vecchia

et al. 2023

VISÃO

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O presente estudo teve como objetivo analisar a influência da estabilidade financeira na alfabetização financeira dos indivíduos. Para isso, foram coletadas, através de uma pesquisa survey com 294 indivíduos, respostas em instituições públicas e em empresas do setor privado de Florianópolis. O instrumento de coleta de dados foi um questionário que continha 44 questões, divididas em oito blocos: perguntas relacionadas ao perfil do respondente, ao uso do crédito, estabilidade, bem-estar financeiro, atitude financeira, comportamento financeiro, conhecimento financeiro e propensão ao endividamento. Os resultados demonstraram que a estabilidade financeira oriunda da ocupação dos servidores públicos impactou positivamente nos níveis de alfabetização financeira desses indivíduos. Além disso, concluiu-se que existe uma diferença significativa entre os dois grupos no que tange ao bem-estar financeiro, sendo que os servidores possuem melhor média em relação aos assalariados, da mesma forma que a alfabetização financeira. Por fim, em relação ao endividamento, não existe diferença significativa entre os resultados encontrados, mas ambos os grupos demonstraram possuir baixa propensão. Palavras-Chave: Estabilidade. Alfabetização financeira. Servidores públicos. Empregados assalariados. Abstract: This study had as its objective analyze the influence of financial stability in financial literacy of individuals. For it, were collected, through a survey with 294 individuals, answers in public institutions and in private sector companies of Florianópolis. The chosen data collection instrument was a questionnaire that contained 44 questions, divided into eight blocks: questions related to the respondent's profile, use of credit, stability, financial well-being, financial attitude, financial behavior, financial knowledge and propensity to indebtedness. The results showed the stability from occupation of public servants positively impacted in the financial literacy levels of these individuals. Besides that, it was concluded that there´s a significant difference between this two groups in terms of financial well-being, and that the public servants have a better average in relation to the employees, in the same way as financial literacy. Therefore, regarding the indebtedness, there is no significant difference between the results found, but both groups showed low propensity. Keywords: Stability. Financial literacy. Public servants. Employees.

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Financial Wellbeing Among Public and Private Sector Employees: A Preliminary Study

Cited by 4 publications

References 0 publications

Financial Literacy and Financial Wellbeing among Indian Households

Financial Literacy and Financial Wellbeing among Indian Households

Understanding the Influence of Psychological and Behavioural Factors on Subjective Financial Well-being—An Indian Context

A Estabilidade Financeira Impacta O Nível De Alfabetização Financeira Dos Indivíduos?

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