Entrepreneurship Boost Up When Youth Is Financially Literate: Exploring Level of Financial Literacy Among Youth

Abstract

The research aims at exploring level of financial literacy about money saving and spending, managing monthly budget, taking loans, investing in debt securities, government schemes and fiscal policies essential for citizens' wellbeing and to discover the mediating influence of electronic media in building citizen's financial knowledge. The researcher collected a sample of 300 respondents using survey methodology. The sample consist of youth only from Islamabad region, the age for respondents set as 18-29 using a non-probability quota sampling technique. The results concluded that financial knowledge among the youth of Pakistan is very low and further concluded that institutions and government policymakers have not effectively utilized electronic media for public awareness about savings, spending, taking loans, investing, government policies and government initiatives. The current study is considered unique since no study has been done so far to explore the level of financial knowledge in Islamabad region, Islamabad is considered as the most literate city of Pakistan.

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