Author: Dr. Aniruddha Seema Sunil Gachake
DOI Link: https://doi.org/10.70798/Bijmrd/04031030
Abstract: Financial literacy has emerged as one of the most essential life skills in the modern economic environment. With rapid changes in financial markets, digitalization of banking services, availability of multiple financial products, and increasing cost of living, individuals are required to possess basic financial knowledge to make informed decisions. College students, who are at the threshold of independent financial life, must be equipped with adequate financial literacy to manage income, expenses, savings, and future financial goals effectively. The present study focuses on assessing the level of financial literacy among college students of Gadchiroli city. The study attempts to evaluate students’ awareness and practices related to expense prioritization, comparison shopping, borrowing behavior, and saving habits. Primary data were collected through a structured questionnaire administered to 100 college students from different faculties in Gadchiroli city. Secondary data were obtained from books, journals, and online sources. The findings reveal that while a significant proportion of students demonstrate responsible financial behavior in terms of price comparison and saving habits, a large number still lack systematic expense planning. Commerce students were found to be relatively more financially aware compared to students from other faculties. Overall, the level of financial literacy among college students in Gadchiroli city was found to be satisfactory. The study suggests the integration of financial education across all academic disciplines and emphasizes the need for workshops, expert lectures, and certificate courses to enhance financial literacy among students.
Keywords: Financial Literacy, College Students, Savings Habit, Dynamic Market, Gadchiroli City.
Page No: 182-187