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

XIII. F inding and C onclusion The main purpose of the study is the association between the determinant of financial literacy and financial well-being. In this study, only four determinants of financial literacy are taken into consideration and found that only financial attitude, financial behaviour and financial socialisation have a greater influence on financial well-being. As per this study financial socialisation is also a very important determinant of financial well-being. Socialisation may be family, peer group, etc. This study partially supports the previous studies, as previous research shows that financial knowledge also influences financial well-being but to the current research only financial attitude, financial behaviour and financial socialisation significantly influence financial well-being (Deswal, 2015; Van Praag, Frijters and Ferrer-i-Carbonell, 2003; Barrafrem, Västfjäll and Tinghög, 2020; Taft, Hosein and Mehrizi, 2013; Gerrans, Speelman and Campitelli, 2014) but we can’t ignore the other factors which influence the financial literacy and financial wellbeing. As per the result, financial knowledge may be an important factor in financial literacy but not an important factor in financial well-being. So, Government, financial institutions, Schools and colleges should focus on building attitudes, financial behaviour and financial socialisation for the well-being of society.During data collection, it was seen that in rural areas, females are not allowed to go outside of the home expect a few events, and they got less chance of socialisation. And found that they get together during financial literacy camps to discuss finance and finance-related issues. So, the government should focus on financial literacy camps at frequent intervals because financial literacy camps play a very important role in financial socialisation. XIV. L imitations of the S tudy The current analysis is not without constraints. The first limitation, this study was conducted through online forms only and. Secondly study includes only the rural young population of Haryana, India. The third sample size is to sample. XV. P ractical I mplications The maximum researchers took demographic, and socioeconomic factors as a determinant of financial literacy and took “financial attitude, financial behaviour, financial knowledge and socialisation” as a dimension of financial study. But research is done on taking the dimensions of financial literacy as a determinant of financial literacy. This research will help the researcher to take more focus on the determinants of financial literacy to strengthen financial literacy and financial well- being. XVI. F uture S cope The researcher can take more samples to remove the above limitations and consider other important determinates and should also check the association between financial socialisation agents, Family, income and financial wellbeing. R eferences R éférences R eferencias 1. Ajzen, I. (2011). The theory of planned behaviou1. Ajzen I. The theory of planned behaviour: Reactions and reflections. Psychol Heal. 2011; r: Reactions and reflections. Psychology and Health. https://doi. org/10.1080/08870446.2011.613995 2. Atkinson, A., & Messy, F. (2012). Measuring Financial Literacy: Results of the Oecd Infe Pilot Study. OECD Publishing, 15. 3. Atkinson, A., & Messy, F. A. (2011). Assessing financial literacy in 12 countries: An OECD/INFE international pilot exercise. Journal of Pension Economics and Finance, 10(4), 657–665. https://doi.org/10.1017/S1474747211000539 4. Beal, D. J., & Delpachitra, S. B. (2003). Financial Literacy Among Australian University Students. Economic Papers, 22(1), 65–78. https://doi.org/ 10.1111/j.1759-3441.2003.tb00337.x 5. Bhushan, P., & Medury, Y. (2014). an Empirical Analysis of Inter Linkages Between Financial Attitudes, Financial Behaviour and Financial Knowledge of Salaried Individuals. Indian Journal of Commerce & Management Studies, 5(3), 1161– 1201. www.scholarshub.net 6. Chijwani, M. (2014). A Study of Financial Literacy among Working Women in Pune. 1(11), 20–22. 7. Deswal, A. (2015) ‘Microfinance: Does it really improve the wellbeing?-A study of Haryana’, International Journal of Commerce and Management Research, 1(1), pp. 52–57. Available at: www.managejournal.com. 8. Fernandes, D., Lynch, J. G., & Netemeyer, R. G. (2014). Financial literacy, financial education, and downstream financial behaviors. Management Science, 60(8), 1861–1883. https://doi.org/10.1287/ mnsc.2013.1849 9. Fessler, P., Silgoner, M., & Weber, R. (2020). Financial knowledge, attitude and behavior: evidence from the Austrian Survey of Financial Literacy. Empirica, 47(4), 929–947. https://doi.org/ 10.1007/s10663-019-09465-2 10. Gao, X., Lee, K., Permpoonputtana, K. et al. Earning Too Little And Worrying Too Much: The Role Of Income And Financial Worries On Parents’ Well- Being In Hong Kong And Bangkok. J Fam Econ Iss (2022). https://doi.org/10.1007/s10834-022-09863-y 11. Gerrans, P., Speelman, C. and Campitelli, G. (2014) ‘The Relationship Between Personal Financial Wellness and Financial Wellbeing: A Structural 48 Global Journal of Management and Business Research Volume XXII Issue V Version I Year 2022 ( ) C © 2022 Global Journals Determinants of Financial Literacy and its Effect on Financial Wellbeing-A Study on Young Population