Global Journal of Management and Business Research, C: Finance, Volume 22 Issue 5

© 2022. Sangeeta, Amit Kumar Singh Panwar & (Dr., CMA, CS) Pradeep Kumar Aggarwal. This research/review article is distributed under the terms of the Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0). You must give appropriate credit to authors and reference this article if parts of the article are reproduced in any manner. Applicable licensing terms are at https://creativecommons.org/licenses/by-nc-nd/4.0/. Global Journal of Management and Business Research: C Administration and Management Volume 22 Issue 5 Version 1.0 Year 2022 Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Online ISSN: 2249-4588 & Print ISSN: 0975-5853 Determinants of Financial Literacy and its Effect on Financial Wellbeing-A Study on Young Population By Sangeeta, Amit Kumar Singh Panwar & (Dr., CMA, CS) Pradeep Kumar Aggarwal Sharda University Introduction- Over the past few years, the world economy has been declining, and the recession has caused inflation, unemployment, and a decline in financial well-being. The decline in financial well-being has harmful effects on mental and physical health. It creates problems of stress, anxiety, depression, and suicide in our society (Taft et al., 2013). Financial literacy has become a much-discussed topic in recent years for the financial empowerment of people and their lives. It catches the attention of a common person who is willing to meet their daily financial needs and plan for a secure future. Financial literacy strengthens people's ability to access financial services, manage their budgets, and maximise resource utilization, which encourages economic development. Financial literacy increases people's confidence and self-control, which encourages their participation in the formal economic system. It will boost your confidence and well-being. As the literature shows, almost all countries in the world are dealing with the issue of financial literacy. But the concept of financial literacy is not yet clear. Different researchers use different definitions of financial literacy. GJMBR-C Classification: DDC Code: 338.0973 LCC Code: HD58.7 DeterminantsofFinancialLiteracyanditsEffectonFinancialWellbeingAStudyonYoungPopulation Strictly as per the compliance and regulations of: