Assistant Professor/Department of Management Studies

Abstract — India has been ranked 23rd out of 28 markets in Visa 2012 Global Financial literacy barometer. Financial literacy has gained the attention of a wide range of major banking companies, government agencies, grass-roots consumer and community interest groups, and other organizations. Ineffective money management can also result in behaviors that make consumers open to severe financial crises. Improved financial literacy can benefit individuals and families by giving them more control over their money and helping them make better financial decisions. This research paper finds the factors affecting the financial literacy. Research Findings /Results The basic demographic data were also collected. The study revealed that financial literacy is influenced by six factors, they are Managing Debit and Credit, Confidence and attitudes, Skills, Personality, Knowledge and understanding and Future financial planning and the study proved that the financial literacy is the powerful predicator of demand for financial consultancy services