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Research Article | Open Access
Volume 14 2022 | None
Financial Literacy and its Influence on Investment Decisions Among Millennial in India: A Qualitative Perspective
Himanshu Kargeti
Pages: 9993-9997
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
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