International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Volume 8 Issue 4
July-August 2026

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Impact of Financial Literacy on Household Decision-Making: A Study in the State of Chhattisgarh, India

Author(s) Dr. Satya Prakash, Dr. Salman, Mr. Ish Kumar Kewat
Country India
Abstract Financial literacy has emerged as a critical determinant of household decision-making in the modern economy. It encompasses individuals’ ability to manage personal finances effectively, understand economic concepts, and make informed choices about investments, savings, and expenditures. This study, which examines the impact of financial literacy on household decision-making in Chhattisgarh, India, a region marked by significant socio-economic diversity, is of utmost importance. Employing a mixed-methods approach, the research combines quantitative data from 500 surveyed households and qualitative insights from interviews with policymakers and financial advisors. The study finds that financial literacy levels in Chhattisgarh are relatively low, with stark disparities between urban and rural households. While financially literate households exhibit better budgeting, investment, and savings behaviours, those lacking literacy are more prone to debt traps and suboptimal financial decisions. The findings underscore the need for targeted financial education programs and policies to empower households. This research contributes to the growing body of literature by highlighting the regional nuances of financial literacy and its implications for economic well-being in India.
Keywords Financial Literacy, Financial Inclusion, Decision Making, Urban v/s Rural, Gender Disparities, Financial Education, Rural Development.
Field Mathematics > Economy / Commerce
Published In Volume 8, Issue 4, July-August 2026
Published On 2026-07-04
DOI https://doi.org/10.36948/ijfmr.2026.v08i04.82976
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CrossRef DOI prefix of IJFMR is 10.36948/ijfmr

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