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VOL. 6, ISSUE 2 (2024)
Financial literacy and personal financial planning: A case of Sainamaina municipality
Authors
Pravina Malla
Abstract
This paper examines the impact of financial
literacy on the personal financial planning of Nepalese individuals of
Sainamaina Municipality, Rupandehi. Personal financial planning includes cash
flow management, Investment management, Tax Planning, Insurance assessment, and
Retirement planning. Primary data was collected from 50 individuals of
Sainamaina Municipality by using a set of structured closed-end questionnaires.
The study connected personal financial planning efforts with three measures:
knowledge, awareness, and attitude toward financial planning decisions, factors
influencing other aspects of personal financial planning. The results show that
personal financial planning is influenced by the level of financial awareness.
The result also reveals that demographic factors such as gender, age,
education, occupation, and income have little impact but are not significant.
The level of individual awareness is increasing regarding cashflow management,
investment management, insurance assessment, and retirement planning for financial
security in the future. This study has significance for financial planners who
are developing financial strategies for their clients' successful
implementation of personal financial planning programs.
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Pages:98-104
How to cite this article:
Pravina Malla "Financial literacy and personal financial planning: A case of Sainamaina municipality". International Journal of Finance and Commerce, Vol 6, Issue 2, 2024, Pages 98-104
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