Title: Empowering economic growth: the mediating influence of financial decision making on financial literacy and perceived wealth creation among female IT professionals

Authors: Reganti Lavanya; Rajesh Mamilla

Addresses: VIT Business School, Vellore Institute of Technology, Tamil Nadu, India ' VIT Business School, Vellore Institute of Technology, Tamil Nadu, India

Abstract: The study examines the interplay between financial literacy, wealth creation, and financial decision making among 300 women working in Bengaluru's IT sector. Data were collected from the participants through a structured questionnaire, and analysis was conducted using Smart PLS 4 for structural equation modelling and SPSS for descriptive statistics. Results suggest that financial decision making mediates financial literacy and wealth creation. This indicates that individuals with higher financial literacy levels tend to make more informed decisions, leading to increased wealth accumulation. Additionally, a positive correlation was observed among financial literacy, wealth creation, and financial decision making, underscoring the importance of promoting financial literacy programs, particularly among women in the IT sector, to enhance informed decision making and facilitate wealth creation. These findings hold significant implications for policymakers, financial institutions, and individuals aiming to strengthen their financial well-being.

Keywords: financial decision making; financial literacy; financial well-being; IT sector; wealth creation; working women.

DOI: 10.1504/IJRM.2024.142328

International Journal of Revenue Management, 2024 Vol.14 No.3, pp.280 - 311

Received: 07 Feb 2024
Accepted: 03 Aug 2024
Published online: 21 Oct 2024 *

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