AWARENESS AND PERCEPTION OF HOUSEHOLDS ON PERSONAL FINANCIAL PLANNING A STUDY IN COIMBATORE DISTRICT

This study investigated the awareness and perception of households in Coimbatore district towards personal financial planning. The study found that the majority of the respondents were somewhat aware about personal financial planning and considered it vital for satisfying their economic and social needs. However, majority of the respondents did not draft a personal financial plan and did not seek help from financial experts. The study also found that there was a relationship between gender and level of willingness to adopt financial planning. Men were more willing to adopt financial planning than women. There was a relationship between monthly income and frequency of facing difficulty paying bills. Households with lower monthly incomes were more likely to face difficulty paying bills. The study concluded that there is a need to improve the awareness and adoption of personal financial planning among households in Coimbatore district. The study also suggested that the financial education system needs to be revamped and updated to cater to the current needs of the population. It is also important to encourage more women to adopt personal financial planning.