Financial Preparedness of Salaried Women in India and Financial Digital Disruption: are they Adapting or Being Marginalised

Abstract

Introduction: In the fast-changing socioeconomic environment in India, women need to be financially prepared to promote gender equality and economic resilience, in line with the UN Sustainable Development Goals (SDGs), especially SDG 5 (Gender Equality) and SDG 8 (Decent Work and Economic Growth). With India's diverse demographic and a large female population working in formal and informal sectors, equipping women with financial knowledge and access to resources boosts household stability and national development. The growth of digital finance presents significant opportunities but also brings about challenges, often resulting in women feeling uncertain about their investment options, credit risks, and financial safety, underscoring the need for focused financial education and inclusion programmes.

 Objectives: This study examines the financial preparedness of salaried women. Despite earning salary, it is uncertain if women can adequately plan financially for the future in an era of digital transformation

Methods: The data collected from 600 participants was analysed using Mean, Standard deviation, mean score analysis, one-way Analysis of Variance, Post hoc test. This study is aligned with Sustainable Development Goals.

Results: The analysis revealed that the level of financial preparedness is average and not excellent and fintech adoption is moderate among salaried women,

Conclusions: Even though they earn a salary, women’s financial preparedness needs improvement because of moderate financial engagements. Significant steps should be taken to enhance digital literacy, financial inclusion and reduce cybersecurity issues. Key insights for developing access to digital finance, gender-inclusive financial policies, training programs, and pension plans, fostering enhanced economic resilience among salaried women which will ensure achievement of sustainable development goals.