Determinants of financial literacy in Kirtipur municipality

Abstract

The main objective of the research is to analyze people's financial literacy and the impact of demographic, educational, and personality characteristics on financial literacy. This study surveyed 300 residents of Kirtipur Municipality. The analysis is carried out using mean, standard deviation, ANOVA, and logistic regression. The research results show that most people have a basic understanding of the stock market, banking, taxation, net worth, inflation, and compound interest rates, but they lack understanding of insurance, numeracy, and credit analysis. The study also highlighted age, family monthly income, degree of education, educational stream, financial behavior, and financial attitude as factors of financial literacy. Gender, family income, educational stream, level education, and financial behaviour have no impact on financial knowledge. It is concluded that people have basic level of financial knowledge. However, overall financial literacy of the people is affected by financial attitude. Key words: Financial Literacy, Financial Behaviour &Financial Attitude