Last Updated on October 4, 2023 by Fiza Khurram
Zahid Bashir of the University of Gujarat’s Department of Commerce conducts an enthralling investigation of the critical function of financial education in influencing individual financial well-being during the tumultuous age of the COVID-19 outbreak in Pakistan.
The study systematically explores how financial education effects the economic stability of participants, predominantly business graduates from several colleges across Pakistan, using a survey-based primary data technique. These individuals, who have financial education as a specialty or as part of their professional jobs in finance-related sectors such as banking or insurance, become important contributors to the research.
Using confirmatory factor analysis using Smart PLS, the study not only confirms but also extends the premise that past knowledge and experience in finance have a favorable influence on financial situations. It reveals the subtle impact of demographic characteristics—job experience, education, and marital status—on increasing people’ financial well-being in the Pakistani environment.
While the findings emphasize the importance of financial education, the study also provides policymakers with practical recommendations. The study argues that raising knowledge about financial education can help people improve their financial well-being throughout the epidemic. This revelation has far-reaching consequences not only for people dealing with economic uncertainty, but also for governments attempting to improve the financial resilience of the population.
