A Study on Individual Financial Management and their Ability to Handle Financial Operations

Dr. Kartikey Koti

In the complex financial world, we have many financial aspects to deal with onto our day to day life. The paper reflects on the individual’s ability of handling their financial operations. As such we have many personal financial elements that can be discussed upon. For our study we have chosen elements such as financial responsibility, Keeping and checking records, money available and short term funds available, decision making ability, their preparedness towards emergency funds, retirement plans and knowledge level. During the examination it was found that majority of the factors/elements were influencing. Elements having highest mean score such as money available to spend 4.07, Confidence in financial decisions 4.0, pension maintained 4.47, financial knowledge 4.40 and financial matters 4.39 The Eigen-values of factors like Purchase of financial products, financial decision in last 12 months, confidence in financial decisions and maintained emergency funds their values are more than 1 , are accepted and explained more than 62.187% variance.

Volume 11 | 04-Special Issue

Pages: 1523-1527