A Visa 2012 study of Global Financial Literacy indicates that though India has the highest savings rate among its global peers, the households may not be aware of many options to invest in.
In the Visa 2012 Global Financial Literacy Barometer, India ranked 23rd out of 28 countries. India is better off than Morocco, South Africa & Vietnam.
Mr. Uttam Nayak, Group Country Manager, India & South Asia, Visa, said: "The Barometer clearly demonstrates that more needs to be done in advancing financial education in India especially among women and young people"
Highlights of Global Financial Literacy 2012..!
^ Like China, Taiwan, Hong Kong, Japan & Canada are far ahead of India in terms of emergency funds kitty.
^ Emergency funds are high on the priority list for Indians, considering that the average emergency savings among Indians is about 1.9 months, marginally lower than the average of two months.
^ Many people in India have set aside savings to weather a financial rainy day. But the lack of money management discussions in the family may set the stage for their children to struggle with finances.
^ Family discussions does not involve finance training frequently. Indian families do not frequently talk to their children about money management issues. On average, Indian respondents discuss budgeting, savings & responsible spending with their children just ten days per year compared with the global average of 19 days per year.
^ The reason for excluding finances in family discussion about 43% women pointed out they did not understand money management issues well enough to discuss the subject with their family. About 20% men too agreed they were not well aware of personal finance management.
In the Visa 2012 Global Financial Literacy Barometer, India ranked 23rd out of 28 countries. India is better off than Morocco, South Africa & Vietnam.
Mr. Uttam Nayak, Group Country Manager, India & South Asia, Visa, said: "The Barometer clearly demonstrates that more needs to be done in advancing financial education in India especially among women and young people"
Highlights of Global Financial Literacy 2012..!
^ Like China, Taiwan, Hong Kong, Japan & Canada are far ahead of India in terms of emergency funds kitty.
^ Emergency funds are high on the priority list for Indians, considering that the average emergency savings among Indians is about 1.9 months, marginally lower than the average of two months.
^ Many people in India have set aside savings to weather a financial rainy day. But the lack of money management discussions in the family may set the stage for their children to struggle with finances.
^ Family discussions does not involve finance training frequently. Indian families do not frequently talk to their children about money management issues. On average, Indian respondents discuss budgeting, savings & responsible spending with their children just ten days per year compared with the global average of 19 days per year.
^ The reason for excluding finances in family discussion about 43% women pointed out they did not understand money management issues well enough to discuss the subject with their family. About 20% men too agreed they were not well aware of personal finance management.
No comments:
Post a Comment