Financial Literacy Among Economically Disadvantaged Working Individuals in Panipat, Haryana: A Comparative Study of Financial Awareness and Money Management

Hansika; Pawan Kumar

Financial Literacy Among Economically Disadvantaged Working Individuals in Panipat, Haryana: A Comparative Study of Financial Awareness and Money Management

Author(s)	Hansika, Dr. Pawan Kumar
Country	India
Abstract	Financial literacy is an important determinant of household financial well being, particularly among economically disadvantaged individuals who must manage limited resources while meeting essential family needs. Inadequate financial awareness can contribute to difficulties in budgeting, saving, borrowing, and preparing for future expenses. This study examines financial literacy and money management practices among working individuals in Panipat, Haryana, with particular emphasis on the role of community based financial education. The research draws on an initial survey, a three month financial education initiative, and a subsequent follow up survey. It examines sixteen indicators relating to income adequacy, employment satisfaction, expense tracking, saving habits, borrowing, financial security, household communication, digital payments, and awareness of government schemes. The comparison indicates substantial differences in several reported financial practices. The proportion of respondents who maintained records of their expenses increased from 41% to 77.7%, while the proportion reporting that they saved money increased from 47% to 72%. The use of digital payment applications rose from 51% to 84%. The follow up figures also indicate reductions in reported financial worry, money related household tension, and borrowing to fulfil demands. The findings highlight the importance of practical financial education that addresses the everyday circumstances of economically vulnerable households. The study emphasises that financial literacy extends beyond theoretical knowledge and includes the ability to apply financial concepts to personal and household decisions. It concludes that accessible financial education can form a valuable part of broader efforts to strengthen financial awareness, encourage responsible money management, and improve household financial preparedness.
Keywords	Financial literacy, household finance, financial education, saving behaviour, borrowing, digital payments, economic vulnerability, Panipat.
Published In	Volume 8, Issue 5, September-October 2026
Published On	2026-10-18

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Financial Literacy Among Economically Disadvantaged Working Individuals in Panipat, Haryana: A Comparative Study of Financial Awareness and Money Management

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