Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 20, 2022 erstellt
Description:
My initiative, The International Club of Financial Literacy (ICFL), aims to raise financial literacy rates among domestic helpers, predominantly a women-dominant demographic, in Bangalore through financial informational sessions and financial government scheme sign-up sessions. The aim of this paper is to identify ways in which research can help increase the impact of ICFL. Thus, I analyzed research to obtain ideas to implement and thus increase the impact of ICFL - plugging domestic helpers into the financial grid to improve their financial decision-making skills and welfare. I found that the inclusion of women empowerment and retirement planning sessions will increase ICFL’s impact by increasing financial decision-making skills and increasing awareness of the financial tools present in the financial system. I also found that curated content for different age groups and genders can increase the receptibility of financial knowledge and thus improve their respective financial decision-making skills. Research also further reinforced the crucial role of financial literacy and women’s empowerment in raising non-food consumption and thus the financial welfare of a household, as well as their wealth accumulation