Financial Knowledge direct Financial Inclusion and better Financial Decisions

Posted: 1 Aug 2017 Last revised: 16 Dec 2018

See all articles by Kanwal Lazrus

Kanwal Lazrus

Government College University- Faisalabad

Muhammad Sajid

Government College University- Faisalabad

Rizwan Mushtaq

Université Paris I Panthéon-Sorbonne

Date Written: June 6, 2018

Abstract

Financial knowledge is essential for every individual, due to the complexity of the financial structure it becomes essential for everyone to manage their cash effectively. Because less financial knowledge consumers are confused while deciding that which product and services are most profitable. Therefore, this study aims at examining the relationship of financial knowledge with financial inclusion and financial decisions. We researched 8 districts of Punjab province in Pakistan. Data is collected through a survey questionnaire from a sample of 332 respondents. The results show that there is a positive relationship of financial knowledge with financial inclusion and financial decisions. The findings suggest that financially literate individuals can plan good financial decisions for their future life and they can also avail the services of financial institutions. The results are informative for the researchers and policymakers to deem how they can operationalize a balance of financial aid information and personal financial management guidance.

Keywords: Financial knowledge, Financial inclusion, Financial decisions, Financial behavior.

JEL Classification: D14, D91, I22, O16.

Suggested Citation

Lazrus, Kanwal and Sajid, Muhammad and Mushtaq, Rizwan, Financial Knowledge direct Financial Inclusion and better Financial Decisions (June 6, 2018). Available at SSRN: https://ssrn.com/abstract=3011075 or http://dx.doi.org/10.2139/ssrn.3011075

Kanwal Lazrus

Government College University- Faisalabad ( email )

Allama Iqbal Road
Faisalabad, NM Punjab 38000
Pakistan

Muhammad Sajid (Contact Author)

Government College University- Faisalabad ( email )

Allama Iqbal Road
Faisalabad, NM Punjab 38000
Pakistan

Rizwan Mushtaq

Université Paris I Panthéon-Sorbonne ( email )

12 place du Panthéon
Paris, 75005
France

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