Financial Literacy of Employees in Ilam Municipality
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Department of Management
Abstract
The purpose of the study is to examine employee’s financial literacy; the impact of
demographic, educational and personality characteristics on financial literacy. This study
surveys 230 employees in Ilam municipality. Mean, Standard deviation, ANOVA and
logistic regression are used in carrying out analysis. Results show that most of the
employees have basic level of financial knowledge but they lack in understanding of share
market, tax and insurance. The study further identified age, service sector, education level,
education stream, financial behaviour and financial attitude as determinants of financial
knowledge. And financial knowledge is unaffected by gender, marital status and income. It
is concluded that employees have basic level of financial knowledge. However, overall
financial knowledge of the employees is affected by some of their demographic, educational
and personality characteristics
Key words: Financial Literacy, Financial Behaviour, Financial Attitude, Financial
Knowledge.