“…Whereas Fatoki (2014) did not observe any relationship between gender and financial literacy. Age of the person has a negative association with financial relations (Agarwalla et al, 2013;Goyal and Kumar, 2021;Guiso and Jappelli, 2005;Volpe et al, 1996) but in some cases, a positive impact has been observed (Cude, 2010;Nayebzadeh et al, 2013) or insignificant association (Kadoya and Khan, 2020;Loke, 2017;Ramakrishnan, 2012). Education also plays a crucial role in financial literacy as more educated people have higher chances of getting higher financial literacy (Agarwalla et al, 2013;Cameron et al, 2013;Cude, 2010;Guiso and Jappelli, 2005;Jayakumar et al, 2017;Kadoya and Khan, 2020;Mustapha and Jeyaram, 2015).…”