Citation:

Vaishali Silakari, Dr. Priti Goswami. "A Study on Influence of Demographic Factors of Household on Digital Financial Literacy: With Special Reference to Madhya Pradesh" International Research Journal of Economics and Management Studies, Vol. 4, No. 3, pp. 249-253, 2025.

Abstract:

Increased digital transformation has impacted all walks of life, and the financial aspect is one of them. In order to keep pace with the transformation, digital financial literacy is a must. But despite the technological advancement, people of different ages, genders & education have different approaches and opinions regarding the selection and usage of financial products & services. The household financial decision is influenced by factors of demography such as age, gender, education, etc, of the consumers. Therefore, the present study objective lies in studying how demographic factors influence Digital Financial Literacy of household consumers in terms of selection & usage of financial products & services. Hypothesis constructed in this respect are tested using a way ANOVA test. The study's findings opined that none of the selected demographic factors influence the selection of digital financial products & services, but in the case of usage, age & education are found to be influencing, but gender has no influence. Therefore, there is a need for education campaigns to be initiated. In this study, only selected demographic factors (age, gender & education) are taken, and the other digital concepts, such as digital threats, virtual currencies, cyber security, etc, are not taken in the study.

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Keywords:

Digital Financial Literacy, Financial Decisions, Financial Literacy.