Financial Literacy and Investment Decision among Salaried Employees - A Critical Review

Financial literacy and the ability to use that knowledge and skills are preconditions for making appropriate financial decisions. Financial literacy helps individuals in assessing the risk and return of various financial products and services which results in the selection of suitable investments. The purpose of this study is to present a review of recent studies that focus on financial literacy and its impact on making investment decisions among salaried individuals. The period covered in the research paper is from year 2010 to 2023. Various research has been conducted in the field of financial literacy and its impact on investment decision-making among individuals. However, this review paper only deals with salaried individuals and their investment decisions. In the majority of the research paper data was collected using questionnaires and interviews and analysis of data was conducted T-test, F-test and ANOVA, etc