A Study on Financial Literacy and its Determinants among Gen Y Employees in Coimbatore City

Financial literacy is the mix of one’s knowledge, skill and attitude towards financial matters. It helps to make informed decisions and well-being of an individual. Research has been conducted globally for measuring the level of financial literacy. And also financial literacy survey has been conducted at country level by the governments. Most of the surveys have thrown light on their poor level of financial literacy. This study focuses on financial literacy among Generation Y employees and to examine how well-equipped they are to make financial decisions. An attempt has been made through this study to measure the level of financial literacy of Gen Y employees. Findings of the study depict that gender, education, income and age impacts the level of financial literacy. This study would help in adopting appropriate strategies to improve the level of financial literacy amongst the Gen Y employees.