Effectiveness of Financial Education Workshops - Results of a Pilot Study

Abstract

ABSTRACT

The households in India have an array of investment alternatives in the market place. The financial decision making is a difficult process for households. Perhaps the difficulty has arisen due to the pace at which changes are taking place in the market coupled with the introduction of new and complex products. Financial education programmes are conducted in different parts of the world to improve the financial knowledge of the participants to facilitate their financial decision making process. However, the financial education programs conducted at different part of the world showed mixed results – improving the financial decision making of the participants to no improvement. Hence, the author conducted a financial education workshop to college faculty members. The author gathered the financial literacy levels of the participants’ prior and post the workshop and found that the workshop was effective in improving the financial knowledge of the participants.