Assessment of behavioural outcomes of financial education workshops on financial behaviour of the participants: An experimental study

Abstract

Today’s financial markets seek the attention of governments to address two key issues: financial inclusion and financial literacy. Financial inclusion focuses on supply aspects, that is, serving the unserved and/or the underserved, whereas financial literacy deals with the demand aspect of empowering people on the subject of personal finance. Enhancing financial literacy may play a critical role in equipping consumers with relevant information, fundamental knowledge and adequate skills to evaluate their savings and investment options, which, in turn, enable them to understand the implications of alternative decisions that may greatly improve their financial behaviour.