Financial Decision Making: Procrastination vs. Financial Literacy

Individuals typically spend in preferred routes. Certain psychological and socioeconomic aspects affect their decisions regarding saving and investing. This study aims to examine the impact of “procrastination” on the financial decision-making of educated individuals and the role of “financial literacy” in mitigating the costs associated with “procrastination”. Primary data was obtained from educated individuals via individual interviews. The demographics, socioeconomic characteristics, psychological aspects associated with saving and investment, and financial literacy of the respondents have been studied. Procrastination noticed in educated persons adversely impacted their economic future by substantially diminishing their corpus for long-term objectives.