FINANCIAL LITERACY ON FINANCIAL WELLBEING AMONG NEPALESE HOUSEHOLD

Abstract

The research aims to examine the association between Financial Awareness, Financial Experience, Financial Skill, Financial Behavior, Financial Knowledge, and Financial Attitude with Financial Wellbeing among households in Nepal. Additionally, it seeks to assess the impact of these variables on Financial Wellbeing. The study reviewed various scholarly articles and theses from sources like Google Scholar and Shanker Dev Library to establish its conceptual framework. The research utilized a descriptive and causal comparative research design, employing SPSS and Excel for data analysis. The population studied was the residents of Kathmandu Valley, with a sample size of 450 selected through convenience sampling methods. Primary data was collected via questionnaire surveys. Analysis methods included descriptive statistics, correlation analysis, and multiple regression analysis. The findings indicate a positive and significant relationship between financial knowledge, financial behaviors, financial skill, and financial attitude with financial well-being. However, the relationship between financial awareness and financial experience with financial well-being was positive but not significant. The impact of Financial Knowledge, Financial Skill, Financial Attitude, Financial Awareness, and financial well-being variables was found to be significant, whereas Financial Experience and Financial Behaviors did not significantly impact financial well-being.