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This study examines the level of financial literacy in Pakistan. Financial literacy (or financial knowledge) is characteristically an input to assess the requirement for financial education and explain changes in financial outcomes. The study reveals that the individuals, who have the more financial knowledge, usually save more. It is inevitable for investors and the general public that they possess sufficient knowledge and awareness about how financial institutions and markets work; types of risks and expected return, that subsequently is fruitful for the growth of the economy. The results show that 1) middle-aged and older people are careful in spending their
Ghaffar et al. (Sat,) studied this question.
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