BUILDING ECONOMIC RESILIENCE: THE ROLE OF FINANCIAL LITERACY IN WOMEN'S LIVES

Abstract

Financial literacy refers to the possession of skills, knowledge, and behaviours that enable an individual to make informed and effective decisions regarding their money. It encompasses the understanding and effective application of various financial skills such as personal financial management, budgeting, and investment management, and is increasingly acknowledged as a crucial factor in determining individual well-being. Although its significance is universal, financial literacy has unique and significant implications for women. Societal structures, historical inequalities, and ongoing gender biases often place women at a disadvantage in financial matters, making financial literacy not just a skill but an essential tool for women

empowerment and economic independence. This research paper seeks to investigate the complex role of financial literacy in women’s lives, focusing on its impact on their economic security, decision-making, and overall well-being. This research paper will explore the various aspects of financial literacy as they relate to women, addressing questions such as: How does financial literacy affect women’s ability to save, invest, and manage debt? What is the connection between financial literacy and women’s success in entrepreneurship? How does financial literacy influence women’s retirement planning and long-term financial security? Furthermore, the paper will examine the role of financial literacy in reducing the gender gap in financial outcomes and promoting economic empowerment.