V3I3P56

A Study on Financial Literacy Among Young People in India

K. Sembulingam (23JUBCG176)^1*, Dr. R. Kandavel²

Abstract

Financial literacy plays a vital role in enabling individuals to manage their personal finances responsibly and make informed economic decisions. In India, a significant number of young people do not possess sufficient knowledge about key financial practices such as saving, budgeting, investing, and long-term financial planning. This study aims to assess the level of financial awareness among young individuals and emphasize the importance of financial education in improving their financial decision-making abilities. The research mainly explores the extent to which youth understand financial services including banking, insurance, digital payment systems, and investment opportunities. The results suggest that although many young individuals are comfortable using basic financial services such as bank accounts and online payment applications, their understanding of long-term financial planning and investment strategies remains limited. Therefore, the study highlights the need to introduce structured financial education programs in schools and higher education institutions. Such initiatives can significantly enhance financial knowledge and support young people in achieving long-term financial security and stability.

Keywords:

Financial literacy, youth financial education, financial awareness, saving behaviour, investment knowledge, India