Financial Literacy and its Influence on Investment Decisions Among Millennial in India: A Qualitative Perspective
Abstract
Making critical financial decisions like saving, investing, or borrowing requires financial literacy. The
financial market offers a variety of items in today's globalised world, and moreover, these products are
becoming more readily available. Every person has to have a basic grasp of finance in order to
comprehend every part of financial goods or financial instruments in this realm of finance and prevent
any misunderstandings or misconceptions. Additionally, since there are many prospects for financial
growth in this cutthroat world, financial literacy is crucial while making investment decisions.
Investments have been a crucial and advantageous part of everyone's financial development, so it's crucial
for everyone, regardless of income level, to understand the basics of financial products and improve their
financial literacy to succeed in the areas of saving and investing. One of the biggest generations,
millennials exhibit a variety of traits connected to financial literacy. They have a significant financial
influence on any economy because of their knowledge, skills, attitudes, and behaviours. Any nation's
largest generation must exhibit solid financial management habits and attitudes in order to raise its GDP.
Millennials have a wealth of choices to invest and save, so it's crucial that they consider their best options
in order to boost their chances of success and lower their risks when making investments. Financial
literacy is crucial since it affects a person's return, risk, and decision-making processes.
Keywords
Financial Literacy, Investment Decision, Millennial, Financial Development, Financial Knowledge