A STUDY ON THE FINANCIAL LITERACY OF EMPLOYEES AT KALPA ELECTRIKAL PVT.LTD., BENGALURU
Keywords:
Financial planning, financial literacy, Investment preferences, Financial goals, Investment plans, Financial planning strategies, and Investment options to avail tax benefits.Abstract
Financial planning refers to formulating and attaining financial objectives and involves developing a holistic approach to oversee finances, assets, and resources effectively. To protect one's financial situation, fiscal mapping has evolved as an efficient instrument. This study helps to understand the factors influencing financial planning, the investment preferences of individuals towards various financial instruments, and to understand how to plan for securing the future financial goals of employees. The research conducted is descriptive in nature, the data is collected from a structured questionnaire through 75 employees, to analyse the effectiveness of financial planning strategies, investment plans preferred, preference to avail tax benefits, and financial goals prioritised by the employees. Data collected is analysed by using statistical tool like Chi-square. The overall study concludes that the most prioritized financial goal is saving for emergencies and buying property, here most of the respondents are aware of the financial planning and they review and balance their plans regularly.
