Digital Financial Literacy among Young Adults in India a Study of Financial Awareness, Digital Financial Practices, and Financial Well-Being

Abstract

This study examines digital financial literacy among young adults in India, focusing on financial awareness, digital financial practices, and financial well-being. A quantitative, cross-sectional research design was adopted, covering 100 young adults from five selected universities, with 20 respondents representing each institution. Primary data were collected through a structured questionnaire using a five-point Likert scale. The study evaluates young adults’ understanding of financial concepts, knowledge of digital financial services, security awareness, and responsible financial practices. The analytical framework indicates comparatively high levels of digital financial literacy, financial awareness, and digital financial practices. It further identifies positive relationships among financial awareness, digital financial literacy, and responsible digital financial behaviour. The study highlights that technological familiarity alone is insufficient for effective financial management; young adults also require financial knowledge, risk awareness, security skills, and responsible financial behaviour. The findings offer useful implications for universities, financial institutions, fintech providers, and policymakers promoting financially capable and resilient young adults.