Financial Literacy Among Postgraduate Residents of Government Medical College in A District of Western Maharashtra

Background: Financial literacy is the ability of managing financial matters. It involves application of various financial skills like budgeting and investing etc. The doctors throughout the medical education have to focus on acquiring medical knowledge & skills. The vulnerability to financial problems remains largely due to lack of proper knowledge of finance. So, the present study to assess the financial literacy among postgraduate residents is undertaken. Materials and Methods: It was an observational study, cross-sectionally designed. The study was conducted among 180 postgraduate residents. Results: Among the study participants, 40% were found to be financially literate. 46.7% percent of the participants were literate by financial Knowledge .88.33% of the participants were literate by financial behaviour.70% of the participants were literate by financial attitude. Financial literacy was significantly associated with age, gender, with in-service and regular quota of admission of postgraduate residents and also with clinical and Pre-Para clinical department, (p value <0.05). No significant association was found between financial literacy and marital status. Conclusion: The postgraduate residents have shown significant deficits in overall financial literacy as well as in financial knowledge, investment practices. Financial training workshop sessions should be conducted during residency period. Future studies to evaluate the changes in knowledge and behaviour before, during and after the training is the need of hour.