~ 672 ~ ISSN Print: 2394-7500 ISSN Online: 2394-5869 Impact Factor: 5.2 IJAR 2016; 2(12): 672-674 www.allresearchjournal.com Received: 11-10-2016 Accepted: 12-11-2016 Dr. Achla Gakkhar Professor, Department of Extension, Communication and Management, Institute of Home Science, Dr. B. R. Ambedkar University, Agra, Uttar Pradesh, India Dr. Dolly Rani Research Associate, UGC/PDF, Department of Extension, Communication and Management, Institute of Home Science, Dr. B. R. Ambedkar University, Agra, Uttar Pradesh, India Manya Kohli Research Scholar, Institute of Home Science, Dr. B. R. Ambedkar University, Agra, Uttar Pradesh, India Correspondence Dr. Achla Gakkhar Professor, Department of Extension, Communication and Management, Institute of Home Science, Dr. B. R. Ambedkar University, Agra, Uttar Pradesh, India Financial literacy and effective sources of information: A study of working and non-working women Dr. Achla Gakkhar, Dr. Dolly Rani and Manya Kohli Abstract Literacy is a key indicator of development. Today the people are more aware about the education but only literacy is not adequate. Financial Literacy means that one is literate in the issues of managing money (including, saving, budgeting, investing, credit, insurance and taxes) and utilizes that knowledge to gain personal welfare through financial security. It helps to make informed decisions and well-being of an individual. In today’s world which has a market with complicated products, the need for financial literacy becomes predictable. Hence the financial literacy is a vital part to engage the women in financial inclusion prevent them from financial malpractices and include them in a present economic growth. This paper therefore aims to analyze the level of awareness and practice of working and non-working towards saving and investment and effective sources of information regarding financial literacy. It is concluded from the study that majority of the working women and non-working women (70% and 56% respectively) had high level of awareness towards saving and investment. While regarding to the saving practice majority of the working women (38%) and non-working women (50%) had average practices. Regarding to the effective sources it is observed that both working and non-working women obtained maximum source of information through wide range of internal. Thereafter it is noticed that the source of information were collected through media, self-experience and home. Keywords: financial literacy, working women, non- working women and Effective Sources of Information Introduction Financial literacy has gained universal recognition all over the world. Even the fact that India is having a large population, a fast growing economy with a national focus on inclusive growth and an urgent need to develop a vibrant and stable financial system; it is all the more necessary to quickly formulate and implement the national strategy. Financial education or financial literacy has assumed greater importance in the recent years. Women traditionally were primarily responsible for the home and daily maintenance activities, which often include household budgeting and bill paying. Women's lack of knowledge and confidence with regard to money management and investment programs impacts their ability to reach their financial potential. Women made us realize that financial literacy (or in other words, the ability to spend, save and manage household income in an effective way) is a key for women in extremely poor communities to lift themselves and their families out of poverty. Having the finish line mind (saving goal), a plan of spending and saving (a budget plan), how to look at the day in a new way (time management) and brushing aside negative myths or opinions about women and money (money belief) can help women be successful and self-reliant. Women have positive behaviour about money and finance matter reflecting their prudence, discipline and alertness while dealing with household finances. They are cautious about saving money for future despite of being from middle income group and their education level but poor financial knowledge and lack of awareness about investment products proves to be a hindrance for them. Considering the above point the present study entitled “Financial Literacy and Effective Sources of Information: A Study of Working and Non - Working Women of Agra District” conducted to know the level of awareness and practice about financial literacy and effective International Journal of Applied Research 2016; 2(12): 672-674