DOI: 10.36347/sjahss.2017.v05i04.016

Pages: 393-402

The ability to manage personal finances has become increasingly important in today's globalized world. Finances are an important part of everyday life and financial literacy is the best way to prevent over-indebtedness of citizens. Financial literacy helps individuals to improve their level of understanding of financial matters which enables them to process financial information and make apprised decisions about personal finance. The study is based on the review of literature available from research worldwide on financial literacy. The paper has divided into six section viz; Studies on Impact of Education on Financial Literacy, Studies on Impact of Sociological Background on Financial Literacy, Studies on Impact of Demographic Profile on Financial Literacy, Studies on Impact of Financial Literacy Program on Financial Literacy, Studies on Retirement Planning, Stock Market Participation and Investment Decision, Studies on Financial Literac ny Among Students Studying in College. The paper ends with the synthesis and conclusion of the review of literature.