Financial Literacy and Planning Among College Teachers in Arunachal Pradesh: Insights on Knowledge, Attitude and Behaviour

Thriving in today’s complex and sophisticated financial marketplaces depends on the capacity to make sustainable financial decisions that enhance future well-being, for which financial literacy is a pathway. This study examines the financial literacy of college teachers in Arunachal Pradesh, India, with the aim of understanding their financial knowledge, attitudes and behaviours. It also explores the factors that influence their personal financial planning (PFP) behaviour. Using a structured questionnaire, researchers conducted a census survey among 210 teachers in the region. The findings reveal that tax-paying teachers generally have a higher level of financial literacy, in terms of knowledge and behaviour, compared to their non-tax-paying counterparts. However, both groups exhibit similarly positive attitudes towards financial matters. The analysis identified eight key factors affecting PFP behaviour: money management, debt management, tax planning, retirement planning, insurance, investment, real estate, and overall financial planning. These results underscore the importance of developing targeted financial education programmes to improve teachers’ financial literacy. JEL Codes: G53, I22, D14