Understanding the Effect of Peers on the Financial Attitude and Financial Behaviour of Women in Kaithal, Haryana

Financial attitudes and behaviors among women are influenced by various factors, yet the role of peers in shaping these remains understudied. This study addresses this gap by investigating how peer influence affects the financial attitudes and behaviors of women in Kaithal, Haryana, with a focus on promoting financial empowerment and inclusivity. Data was collected from 325 women using a self-administered survey and standardized scales for financial attitudes, behaviors, and peer influence. Statistical analyses, including t-tests, regression, and mediation analysis, revealed that peer influence has a significant positive impact on women's financial behavior. Notably, financial attitude mediates approximately 14% of this relationship. The findings emphasize the importance of fostering open financial discussions within women's peer groups to improve decision-making. Understanding these dynamics can help women, policymakers, and educators develop strategies to economically empower women and create a more inclusive financial landscape, reinforcing the critical role of peer support in financial wellbeing.