Financial Awareness and Investment Behaviour of Women: A Study with Special Reference to Madurai District

Abstract

Financial awareness plays an important role in enabling women to make informed investment decisions and achieve financial security. The present study examines the financial awareness and investment behaviour of women with special reference to Madurai District. The study is based on both primary and secondary data. Primary data were collected from 100 women respondents using a structured questionnaire, while secondary information was obtained from websites, magazines, and journals. The collected data were analysed using the Statistical Package for the Social Sciences (SPSS). The study focuses on assessing the level of financial awareness among women and identifying their preferred investment avenues. The findings reveal that the respondents possess a moderate level of financial awareness, with an overall mean score of 3.43. Awareness is comparatively higher regarding insurance products and savings and investment, while knowledge of shares, mutual funds, diversification, inflation, and retirement planning requires further improvement. The investment preference analysis indicates that women show greater preference for bank deposits/fixed deposits, gold, and insurance, reflecting their inclination towards familiar and relatively safer investment avenues. The study concludes that strengthening financial awareness through systematic financial education, investment counselling, and guidance on diversified investment products can help women make informed and independent investment decisions. Enhanced financial awareness can contribute to better investment planning, financial independence, wealth creation, and long-term financial security among women in Madurai District.