Financial Literacy and Women's Financial Well-being: The Mediation Role of Investment Decisions

Abstract

This research paper will throw light on the financial literacy and financial well-being of the women employees in the public sector of Manipur and also find out the mediating role of investment decisions. A sample of 389 public sector working women employees was collected through a well-structured questionnaire technique to attain the required information which was divided into two sections relating to the socio-demographic profile the first, their financial literacy, financial well-being, and investment decisions in the second section. The study found that despite women being highly educated and financially empowered are often reluctant and not assertive while taking their own investment decisions and the majority of respondents have low financial literacy levels. As per various research reviews done, no similar studies have been conducted regarding studying of financial literacy relating to their financial well-being and the role of investment decisions relating to public sector women employees in Manipur. Smart PLS 4 software was employed in the study to run PLS-SEM. The study found that investment decision partially mediates the association between financial literacy and the financial well-being of women. The study recommends equipping women with the tools and awareness to empower them to have the credence and ability to judge prudently when planning and making financial decisions.