Improving women's financial literacy as a means of social inclusion

Abstract

This article explains how much financial education has helped women become self-sufficient in handling family finances without consulting a male family member. In this research, we examine how well-informed urban, semi-urban, and college-educated women are about the many investing opportunities available to them. Given that the gender ratio in the United States is 933 women for every 1000 men and the female literacy rate is 60.6% compared to the male literacy rate of 81.3%, it is critical to educate women about money management in order to improve the economy. The ability to understand and manage one's finances is a crucial tool for surviving economic and emotional hardships, as it can shed light on the wide range of opportunities available for generating sustainable income. Women who are financially literate are in a position to make decisions based on a broad understanding of personal finance and a variety of practical considerations. Those that are financially educated are able to make sound decisions about their money, whether it be saving, investing, borrowing, or something else. Given the myriad ways in which financial literacy influences Behaviour, the process of financial education, the attainment of financial literacy, and monetary well-being (Lusardi and Mitchell, 2014), it is clear that improving financial literacy is crucial.