A study of the difference in need for Personal Financial Planning amongst the youth of India.
Finance, Personal Financial Planning, Financial Planning Components, Financial Awareness, Gender, Youth
The ability of the youth to save funds and stockpile assets is highly crucial in the age of group of 20-30 years as they move towards adulthood and start to accept their financial responsibilities & figure out their financial goals for the long run. Lack of a financial plan for the future creates risk of not having sufficient wealth in order to live comfortably & securely after retirement. However, the financial goals differ amongst the male and female population of the youth of India which creates a need for different approaches towards all the components of financial planning for the attainment of these goals. For the study, the components are budget creation, saving-spending management, debt management, investment planning, insurance planning and tax planning. The difference in current financial situation regarding all these components actively illustrate that the male need assistance in funds management and the female need to invest in high-risk high return investment avenues in order to create wealth. This shall assist the individuals as well as financial planners to know that a common financial plan for the youth irrespective of gender may not result in the attainment of financial goals and there exists a need for separate financial plans for both male and female youth.
"A study of the difference in need for Personal Financial Planning amongst the youth of India.", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol.5, Issue 11, page no.211 - 226, November-2020, Available :https://ijsdr.org/papers/IJSDR2011033.pdf
Volume 5
Issue 11,
November-2020
Pages : 211 - 226
Paper Reg. ID: IJSDR_192723
Published Paper Id: IJSDR2011033
Downloads: 000347441
Research Area: Management
Country: Jaipur, Rajasthan, India
ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: IJSDR(IJ Publication) Janvi Wave
