Kiran SinghKavita Rani2023-03-222023-03-222022-07https://krishikosh.egranth.ac.in/handle/1/5810195654In recent years, financial literacy has become a major area of concern in India. People at large lack basic knowledge about financial matters concerned with day-to-day money management and saving for long term. Keeping in mind concern for elderly, the present study was conducted in two phases. The study was conducted in three districts i.e. Hisar, Fatehabad and Karnal of Haryana state. Further, five localities from each district were selected randomly and equal number of elderly people (150 from each district) in the age group of above 55 years of age, thus comprising of 450 elderly for Phase I. Out of 450 elderly, 140 were found to have low level of financial literacy and subjected further for financial education in Phase-II. Results revealed that majority of (61.33%) were having 55-65 years of age, were male (72.00%), graduated (37.11%), retired (56.44%) and had monthly income between 20,000-50,000. Living arrangement mostly (34.67%) was with spouse and family. All had saving accounts and even two third of them had 3-4 saving accounts. Google pay was found to be more in usage (46.00%) and majority (44.89%) availed Senior Citizen Saving Scheme. The male respondents (68.83%) had medium level of financial literacy in comparison to female respondents (22.22%). Financial literacy showed highly significant association with age, education, occupation, monthly income, assets and liabilities (p<0.01). Mostly male respondents (73.46%) had medium level of financial well-being on the contrary female respondents (38.89%). Majority of the respondent‟s primary short-term goal was paying for the property tax (MS 1.91) and in long-term goal was large estate for children (MS 1.70). The study further unveils that more number of the elderly had medium level of financial stress and prefer to discuss and take money from family as a adaptive coping strategies to relieve stress (MS 2.46). Highly significant difference was seen in financial literacy in male and female respondents in all the districts. The results found that highly significant association of financial stress with age, family type, family size, and occupation (p<0.01). Living arrangement were found to be highly significant associated with financial literacy (χ2=20.17**), financial well-being (χ2=23.46**) and financial stress (χ2=25.55**). Correlation of financial literacy with financial well-being was found to be positively significant. Financial stress showed high negative significant correlation with financial literacy and financial well-being in elderly from all districts. In Hisar district female respondents (Z=4.37**) found that maximum gain in knowledge in comparison to male respondents (Z=2.22*) after media mix approach.EnglishThesis