Impact of Financial Education on Investment Knowledge of Working Women in Jharkhand- A Case Study of Ranchi District

Abstract

This study examines the impact of financial education and investment knowledge among working women in Ranchi. Financial education entails acquiring accurate knowledge about money; specifically, it is very important to have knowledge about various financial instruments. where money comes from, its significance, and how it is earned. Investment knowledge is a form of expertise that guides us on where and how to invest, teaches us measures to safeguard against fraud and helps us identify opportunities that will prove profitable. This observation is true because women have progressed far more than men. Since women must obtain an education, it has long been believed that women’s empowerment is the only way for the world to advance. This was a research assessment questionnaire from 150 working women through a survey utilising the Likert Scale method. The findings of this research indicate that a positive impact has been observed among working women and that these women have become more aware of financial education and investment knowledge. The conclusion is that financial education helps women gain investment knowledge, which makes them financially empowered.

Introduction

Financial education and awareness have become increasingly important in today’s rapidly changing world. The text explains that financial literacy involves understanding money management, budgeting, saving, and investing, which helps individuals secure their financial future and make informed decisions. It highlights how investment knowledge (stocks, mutual funds, SIPs, etc.) protects against fraud and improves financial decision-making. A strong focus is placed on women’s financial empowerment, emphasizing that educating women can improve household well-being and overall economic progress.

The study focuses on working women in the Ranchi district of Jharkhand and examines their level of financial awareness, investment knowledge, and use of modern financial tools. It identifies that many women still rely on traditional saving methods and often depend on family members for financial decisions due to limited financial education. The research aims to assess awareness levels, factors influencing financial literacy, and the impact of financial education on investment behavior.

A literature review shows that financial literacy among women remains uneven, especially in rural areas, despite its growing importance. Many studies highlight barriers such as lack of awareness, limited access to training, inadequate infrastructure, and low adoption of modern financial instruments.

The research gap identifies the need for a focused study on working women in Ranchi to understand their actual awareness and investment behavior. The study uses a quantitative approach with 150 respondents, applying surveys, regression analysis, and ANOVA to analyze data. It tests whether financial education significantly impacts investment knowledge, aiming to show that improved financial literacy can lead to better investment decisions and greater financial independence among working women.

Conclusion

The findings of this study indicate that financial education and investment knowledge foster self-reliance, investment understanding, and awareness among working women in Ranchi district. Women equipped with comprehensive financial education do not shy away from investing, managing investment risks, or saving. Thus, it is evident that financial literacy empowers women, instilling in them the confidence and awareness needed to lead independent and empowered lives. Encouraging awareness among working women improves their financial planning and strengthens their overall empowerment.

References

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Copyright

Copyright © 2026 Anjali Kumari , Fr. Dr. Robert Pradeep Kujur S. J., Dr. Ajay Kumar. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.