FINANCIAL LITERACY AND FINANCIAL WELLBEING AMONG NEPALESE HOUSEHOLD

Abstract

This study aims to address several key questions regarding the financial status of Nepalese households. Specifically, it examines the current levels of financial awareness, experience, skills, behavior, knowledge, attitudes, and well-being among these households. It also explores whether there is a relationship between these financial factors and overall financial well-being, and investigates the impact that each of these factors has on financial well-being. To achieve these objectives, the study reviews drawing on a range of articles and theses from resources such as Google Scholar and the Shanker Dev Library, a conceptual framework has been developed that positions. In this study, financial well-being is considered the outcome variable. The framework outlines financial awareness, experience, skills, behavior, knowledge, and attitudes as the predictor variables. The research utilizes a descriptive and causal-comparative design to explore these relationships, data from 417 respondents in Kathmandu Valley were collected through a questionnaire survey and analyzed using SPSS and Excel. The study finds that respondents generally have access to financial knowledge, awareness, attitudes, skills, and behaviors, and that these factors have a positive and significant relationship with financial well-being. However, while most factors significantly impact financial well-being, financial attitude alone does not show a significant effect.