Personal financial literacy among Indian postgraduate residents

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dc.contributor.authorJAIN, GAURAVen_US
dc.contributor.authorAGRAWAL, VIKESHen_US
dc.contributor.authorSHARMA, DHANANJAYAen_US
dc.contributor.authorAGARWAL, PAWANen_US
dc.contributor.authorYADAV, SANJAY KUMARen_US
dc.contributor.authorGUPTA, VISHALen_US
dc.date.accessioned2023-06-27T08:32:43Z
dc.date.available2023-06-27T08:32:43Z
dc.date.issued2022-04
dc.description.abstractBACKGROUND Postgraduate residents’ ability to understand and effectively manage their finances is variable. We conducted this study to assess the awareness of personal financial literacy among Indian residents. METHODS We circulated a web-based cross-sectional Google Forms multiple-choice questionnaire having questions in three categories including financial awareness, current financial status and plans among 400 Indian residents. RESULTS A total of 215 Indian residents (53.75%) responded to the survey (men 80.9%, unmarried 74.4% and pursuing broad specialties 83.3%). The majority were unaware of stocks, special student/doctor loans, tax planning, life insurance, professional indemnity and tax/financial planning. The majority opined that personal finance and investing should be taught at medical school/residency. A financial pyramid based on the hierarchy of needs is proposed. CONCLUSION Lack of financial literacy and planning was seen among the majority of Indian residents. Our study highlights this gap in the medical curriculum and the need for formal structured financial education during training.en_US
dc.identifier.affiliationsAurora St Luke’s Transplant Program, University of Wisconsin School of Medicine and Public Health, Milwaukee, Wisconsin, USAen_US
dc.identifier.affiliationsDepartment of Surgery, NSCB Government Medical College, Jabalpur 482003, Madhya Pradesh, Indiaen_US
dc.identifier.affiliationsDepartment of Surgery, King George Medical University, Lucknow, Uttar Pradesh, Indiaen_US
dc.identifier.citationJAIN GAURAV, AGRAWAL VIKESH, SHARMA DHANANJAYA, AGARWAL PAWAN, YADAV SANJAY KUMAR, GUPTA VISHAL. Personal financial literacy among Indian postgraduate residents. The National Medical Journal of India. 2022 Apr; 35(2): 105-107en_US
dc.identifier.issn0970-258X
dc.identifier.issn2583-150X
dc.identifier.placeIndiaen_US
dc.identifier.urihttps://imsear.searo.who.int/handle/123456789/218190
dc.languageenen_US
dc.publisherAll India Institute of Medical Sciencesen_US
dc.relation.issuenumber2en_US
dc.relation.volume35en_US
dc.source.urihttps://doi.org/10.25259/NMJI_984_20en_US
dc.titlePersonal financial literacy among Indian postgraduate residentsen_US
dc.typeJournal Articleen_US
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