THE IMPACT OF DIGITAL FINANCIAL LITERACY ON FINANCIAL DECISION MAKING AMONG GUJARAT CITIZENS

Abstract

Major objective of this study is to identify the perception of an individual regarding investment decisions, to major awareness for financial planning and to major financial literacy. The researcher has used both types of data primary and secondary data. The primary data were collected with the help of questionnaire through the online (google) form. The researcher has collected sample of 151 respondents who are the citizens of Gujarat state from different districts. The data were expressed by using different testing like reliability test, normality test, chi- square methods, descriptive statistics, frequency distribution, factor analysis and Kruskal - Wallis test. Respondents are highly preferred to invest their fund or saving in the security market or a stock market. The stock market and mutual funds are the most preferable options of investments. majority of the respondents are not financially literate, although they have some financial knowledge regarding financial planning and investments but they are not fully are about the financial planning and market. Only 40% respondents scored above 12 out of 18, that means a financial literacy level is very low.