Article
Impact of Financial Education on Financial Stress and Security of Young Adults
In the current complex financial landscape, financial education has become an essential component to improve the financial situation of young adults. This study looks at effect of financial education on financial stress as well as financial security among young adults of Mumbai, India. The quantitative research design was used and primary data obtained from 390 respondents using a structured questionnaire with a 5-point Likert scale. The internal consistency of the constructs was validated by Cronbach's alpha values of more than 0.80. For the tests of the proposed hypotheses descriptive statistics, correlation analysis, and multiple regression analysis were used. Financial education has a strong impact on financial stress and financial security, the findings show. Moreover, financial education was shown to be a strong predictor of financial security, underscoring its role in fostering financial well-being and effective financial decisions. But, financial stress was not a significant effecting factor in the association of financial education and financial security. The study highlights the importance of targeted financial literacy programs to enhance financial capability and aid in financial outcomes for young adults.
