A Study of Behavioral Aspects of Financial Decision Making - A Women Perspective

Abstract

In the challenging and volatile financial markets, an investor must constantly modify his financial objectives, leading to a diversified investment portfolio. The capacity of each investor to make wise choices will dictate his or her financial destiny. Making financial decisions is a difficult process that is impacted by a wide range of social, psychological, and economic variables. Gender-specific perspectives on financial behaviors reveal distinct patterns, especially with regard to women. This study investigates the behavioral components of women's financial decision-making by looking at risk attitudes, social factors, psychological characteristics, and economic situations. This study examines the behavioral elements of financial decision-making from the viewpoint of women, looking at the particular difficulties, driving forces, and money-management techniques that women face. The study explores how women's financial behaviors are shaped by psychological variables, socioeconomic circumstances, and gender-specific prejudices. The intention is to comprehend the ways in which these variables affect women's financial wellbeing and to find strategies for assisting them in making wise financial decisions. The paper tries to shed light on how these elements interact to shape women's financial behaviors through an extensive review of the literature and an analysis of empirical findings. The design of financial services and products, financial education, and policy-making are all significantly impacted by the knowledge gathered from this research.