IMPACT OF FINANCIAL LITERACY ON HOUSEHOLD SAVING BEHAVIOUR (A STUDY OF KARACHI)

Abstract

This study investigates the relationship between financial literacy and household savings behavior in order to understand how financial literacy affects personal savings. A comprehensive review of the existing literature on financial literacy and saving behavior provides a theoretical framework for this study. This study uses a multi-method approach, using survey data collected from different family samples to examine the relationship between financial knowledge and the desire to save. Research results show that there is a positive relationship between financial literacy and family savings behavior. Individuals who score higher on financial literacy are more likely to adopt good leadership skills. This study also determines the role of demographic variables such as income, education, and age in the Impact of financial literacy on conservation behavior. These results have implications for policymakers, financial institutions, and educators. Improving financial literacy through intervention and education programs will help families develop greater awareness and save money. Since financial decisions play an essential role in a person's overall wellbeing, it is crucial to understand the connection between financial literacy and conservation behavior. Focus on promoting economic stability and family strengthening.