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ISSN 2063-5346
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FINANCIAL LITERACY AND ITS IMPACT ON ACHIEVING FINANCIAL INDEPENDENCE FOR INDIVIDUALS

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Mr.Sunny Masand, Mr.Maulik Chandnani
» doi: 10.53555/ecb/2022.11.6.75

Abstract

Navigating the transition from financial dependence on parents to achieving financial independence is a crucial phase for students, as well as for employees such as teachers and HR managers. This study aimed to assess the current financial knowledge of individuals, and their interest in learning more, and to explore the impact of financial literacy on achieving financial independence. In today's challenging economic environment, having a sound financial plan is essential for survival, prompting us to investigate the level of financial knowledge among both students and employees. The majority of responses were from students, followed by employees, with 52.9% being male and 47.1% female participants in our research data. The collected data indicates that financial literacy plays a significant role in an individual's life and influences their aspirations for achieving financial independence.

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