Financial Literacy & Saving Behavior of Women and its Implication on Adult Education In Woreda 12 of Kolfe Subcity
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Date
2014-06
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Addis Abeba university
Abstract
This study aimed to assess the financial literacy and saving behavior of women living in woreda
12 of Kolfe Sub City. Descriptive survey design was employed to conduct the research. From the
existing 11 institutions, only eight associations were considered having 107 female members
taken inclusively. Both qualitative & Quantitative data collection method were employed to
collect data & Quantitative data processed in SPSS v.20.00 statistical software. The findings of
the study indicated that financial literacy and saving character are interrelated. Besides, the
status of financial literacy in the study area was found as poor. As to the determinant factors,
Women marital status, respondents income level, the respondents attitude towards the effect of
financial knowledge, home responsibility (burden at domestic activities), less opportunity to
education, job and property, high level of debit and low income on the saving culture were
indicated as the major factors affecting the saving behavior of Women in the study area. The
study also indicated that the majority of women had a bank/credit account while in contrast, still
significant number of women or their husband didn’t open the bank/credit account yet. Finally,
the study indicated that starting saving too late in life, disproportionate the current and future
consumption and women and their children would not have an equal chance at becoming
financially secure were the major consequences for women’s lake of financial literacy
Key words: financial literacy, saving behavior, adult literacy
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Keywords
Financial Literacy; Saving Behavior; Adult Literacy