Fostering Financial Independence Among Women in India – A Case Study of LXME
Main Article Content
Keywords
Fintech, Financial Literacy, Women Empowerment
Abstract
This article explores the relationship between financial literacy and financial independence. Through the case study method, it studies the impact and role of a fintech startup firm LXME in educating women about financial planning and helping them empower themselves in their personal and professional lives. LXME manages a Facebook group named ‘Being LXME’ which is a group of women that promotes women’s economic empowerment through financial literacy. The group works to simplify the financial terms and financial planning and investment so that women can understand the terminology easily and plan their finances better. LXME (beta version) was launched in 2018-19 by the Anand Rathi group. While there is no dearth of fintech apps in recent times, LXME has a unique proposition. Armed with the Facebook community, LXME guides women to make the right choices when it comes to decision-making for investment and personal finances. This article aims to shed light on how LXME has charted its path toward being a successful venture and how it plans to connect with their consumers to empower them to take charge of their finances by educating them.
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References
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Asghari, F., Sadeghi, A., & Aslani, K. (2013). Comparative Study of the Financial Independence, Self-Confidence and Decision-Making Power, Awareness of the Social Resources and Mental Health in the Women Members of SHG and Non- Member of SHG. Sociology Mind, 03(01), 114–117. https://doi.org/10.4236/sm.2013.31017
Atkiinson, A.; Messy, F. (2013). PROMOTING FINANCIAL INCLUSION THROUGH FINANCIAL EDUCATION.pdf. OECD Publishing. https://doi.org/10.1787/5K3XZ6M88SMP-EN
Bannon, S., Ford, K., & Meltzer, L. (2014). Financial Literacy Programs in the Workplace. The CPA Journal, 84(9), 67–71. https://www.proquest.com/openview/45480c1e0a7ce0ce06c2fe274a0a3091/1 ?pq-origsite=gscholar&cbl=41798
Bayissa, F. W., Smits, J., & Ruben, R. (2018). The Multidimensional Nature of Women’s Empowerment: Beyond the Economic Approach. Journal of International Development, 30(4), 661–690. https://doi.org/10.1002/jid.3268
Bayuk, J., & Altobello, S. A. (2019). Can gamification improve financial behavior? The moderating role of app expertise. International Journal of Bank Marketing, 37(4), 951–975. https://doi.org/10.1108/IJBM-04-2018-0086/FULL/XML
Beal, D. J., & Delpachitra, S. B. (2003). Financial Literacy Among Australian Universtiy Students. Economic Papers: A Journal of Applied Economics and Policy, 22(1), 65–78. https://doi.org/10.1111/j.1759-3441.2003.tb00337.x
Beverly, S. G., & Burkhalter, E. K. (2005). Improving the Financial Literacy and Practices of Youths. Children & Schools, 27(2), 121–124. https://doi.org/10.1093/cs/27.2.121
Bhattacharya, J., & Banerjee, S. (2012). Women Empowerment as Multidimensional Capability Enhancement: An Application of Structural-Equation-Modelling. https://doi.org/10.1002/pop4.7
Bhutoria, A., & Vignoles, A. (2018). Do Financial Education Interventions for Women from Poor Households Impact Their Financial Behaviors? Experimental Evidence from India. Https://Doi.Org/10.1080/19345747.2018.1465317, 11(3), 409–432. https://doi.org/10.1080/19345747.2018.1465317
Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77–101. https://doi.org/10.1191/1478088706qp063oa
Burke, S., & Redmond, G. (2002). Women’s Financial Independence: Australia in the 1980s and 1990s. Social Policy Research Centre.
Creswell, J. W. (2007). Five Qualitative Approaches to Inquiry. In Qualitative inquiry and research design: Choosing among five approaches (pp. 53–84). Thousand Oaks: Sage Publications. http://www.sxf.uevora.pt/wp- content/uploads/2013/03/Creswell_2007.pdf
D.A.T., K., Azam, S. M., & Khalidah, S. (2020). The Impact of Financial Literacy on Women’s Economic Empowerment in Developing Countries: A Study Among the Rural Poor Women in Sri Lanka. Asian Social Science, 16(2), 31. https://doi.org/10.5539/ass.v16n2p31
Dam, L. B., & Hotwani, M. (2018). Financial Literacy : Conceptual Framework and Scale Development. SAMVAD: SIBM Pune Research Journal, XV(June), 61– 69.
Easterby-Smith, M., Thorpe, R., Jackson, P. (Paul R. ., & Jaspersen, L. J. (2018). Management and Business Research. In Management and Business Research. SAGE Publications Ltd.
Fan, L., & Zhang, L. (2021). The Influence of Financial Education Sources on Emergency Savings: The Role of Financial Literacy. Family and Consumer Sciences Research Journal, 49(4), 344–361. https://doi.org/10.1111/fcsr.12400
Garcia-Moreno, C., & Amin, A. (2019). Violence against women: where are we 25 years after ICPD and where do we need to go? Sexual and Reproductive Health Matters, 27(1), 1–3. https://doi.org/10.1080/26410397.2019.1676533
Garg, N., & Singh, S. (2018). Financial literacy among youth. International Journal of Social Economics, 45(1), 173–186. https://doi.org/10.1108/IJSE-11-2016-0303
Global FinTech Adoption Index 2019. (2019). In Ernst & Young. https://assets.ey.com/content/dam/ey-sites/ey-com/en_gl/topics/banking-and- capital-markets/ey-global-fintech-adoption-index.pdf
Grohmann, A., Klühs, T., & Menkhoff, L. (2018). Does financial literacy improve financial inclusion? Cross country evidence. World Development, 111, 84–96. https://doi.org/10.1016/J.WORLDDEV.2018.06.020
Guo, L., Shi, F., & Tu, J. (2016). Textual analysis and machine leaning: Crack unstructured data in finance and accounting. In Journal of Finance and Data Science (Vol. 2, Issue 3). Elsevier B.V. https://doi.org/10.1016/j.jfds.2017.02.001
Gustman, A. L., Steinmeier, T. L., & Tabatabai, N. (2012). Financial Knowledge and Financial Literacy at the Household Level. American Economic Review: Papers & Proceedings, 102(3), 309–313. https://doi.org/10.1257/aer.102.3.309
Hendriks, S. (2019). The role of financial inclusion in driving women’s economic empowerment. Development in Practice, 29(8), 1029–1038. https://doi.org/10.1080/09614524.2019.1660308
Hung, A., Yoong, J., & Brown, E. (2012). Empowering Women Through Financial Awareness and Education. In OECD Working Papers on Finance, Insurance and Private Pensions (Issue 14). http://www.finlitedu.org/team- downloads/evaluation/hung-yoong-brown-2012pdf.pdf
Indian women are still financially dependent. (2022). TATA AIA. https://www.tataaia.com/about-us/media-center/2022/indian-women-are-still- financially-dependent.html
Jarrahi, M. H., & Newlands, G. (2024). Quality in qualitative research : Through the lens of validity , reliability and generalizability. March. https://doi.org/10.13140/RG.2.2.21444.23682
Kabeer, N. (1999). Resources , Agency , Achievements : Re ¯ ections on the Measurement of Women ’ s Empowerment P1 Pt Scope. Development and Change, 30(May), 435–464. https://doi.org/10.1111/1467-7660.00125
Klapper, L., Lusardi, A., & Van Oudheusden, P. (n.d.). Financial Literacy Around the World: Insights from the Standard & Poor’s Ratings Services Global Financial Literacy Survey. Retrieved February 11, 2023, from http://www.finlit.mhfi.com.
Koomson, I., Villano, R. A., & Hadley, D. (2021). Accelerating the impact of financial literacy training programmes on household consumption by empowering women. Applied Economics, 53(29), 3359–3376. https://doi.org/10.1080/00036846.2021.1878093
Krook, M. L., & O’Brien, D. Z. (2012). All the President’s Men? The Appointment of Female Cabinet Ministers Worldwide. Https://Doi.Org/10.1017/S0022381612000382, 74(3), 840–855. https://doi.org/10.1017/S0022381612000382
Kumar, P., Pillai, R., Kumar, N., & Tabash, M. I. (2022). The interplay of skills, digital financial literacy, capability, and autonomy in financial decision making and well-being. Borsa Istanbul Review. https://doi.org/10.1016/J.BIR.2022.09.012
Leyenaar, M. (2004). Political Empowerment of Women: The Netherlands and Other Countries. Martinus Nijhoff Publishers. https://doi.org/10.1163/9789047406358
Li, X. (2020). When financial literacy meets textual analysis: A conceptual review. Journal of Behavioral and Experimental Finance, 28, 100402. https://doi.org/10.1016/J.JBEF.2020.100402
Lusardi, A. (2019). Financial literacy and the need for financial education: evidence and implications. Swiss Journal of Economics and Statistics, 155(1), 1–8. https://doi.org/10.1186/S41937-019-0027-5/FIGURES/2
Lusardi, A., & Mitchell, O. S. (2011a). Financial literacy around the world: An overview. Journal of Pension Economics and Finance, 10(4), 497–508. https://doi.org/10.1017/S1474747211000448
Lusardi, A., & Mitchell, O. S. (2011b). Financial literacy and retirement planning in the United States. Journal of Pension Economics & Finance, 10(4), 509–525. https://doi.org/10.1017/S147474721100045X
Mandell, L. (2008). Financial literacy of high school students. In J. J. Xiao (Ed.), Handbook of Consumer Finance Research (pp. 163–183). Springer, New York, NY. https://doi.org/10.1007/978-0-387-75734-6_10
Marcolin, S., & Abraham, A. (2006). Financial literacy research: current literature and future opportunities. Faculty of Commerce - Papers (Archive). https://ro.uow.edu.au/commpapers/223
Mohanty, D. (2017). The Five Pillars of Women Empowerment: Let’s Be Bold for Change | LinkedIn. https://www.linkedin.com/pulse/five-pillars-women- empowerment-lets-bold-change-mohanty-scea-pmp/
Narayan, D. (2005). Measuring Empowerment : Cross Disciplinary Perspectives. https://doi.org/10.1596/0-8213-6057-4
Paiella, M. (2016). Financial literacy and subjective expectations questions: A validation exercise. Research in Economics, 70(2), 360–374. https://doi.org/10.1016/j.rie.2015.11.004
Pal, M., Gupta, H., & Joshi, Y. C. (2022). Social and economic empowerment of women through financial inclusion: empirical evidence from India. Equality, Diversity and Inclusion, 41(2), 294–305. https://doi.org/10.1108/EDI-04-2021- 0113/FULL/XML
Perrone, L., Vickers, M. H., & Jackson, D. (2015). Financial Independence as an Alternative to Work. Employee Responsibilities and Rights Journal, 27(3), 195– 211. https://doi.org/10.1007/s10672-015-9262-9
Saxena, A. (2021, March). Mumbai-based fintech startup LXME aims to bridge the gap between women and finance. Your Story.
Sen, G. (2019). Gender Equality and Women’s Empowerment: Feminist Mobilization for theSDG s. Global Policy, 10(S1), 28–38. https://doi.org/10.1111/1758-5899.12593
Sharma, E., & Das, S. (2021). Integrated model for women empowerment in rural India. Journal of International Development, 33(3), 594–611. https://doi.org/10.1002/JID.3539
Sharma, I. (2015). Violence against women: Where are the solutions? Indian Journal of Psychiatry, 57(2), 131. https://doi.org/10.4103/0019-5545.158133
Siscawati, M., Adelina, S., Eveline, R., & Anggriani, S. (2020). Gender Equality and Women Empowerment in The National Development of Indonesia. Journal of Strategic and Global Studies, 2(2), 3. https://doi.org/10.7454/jsgs.v2i2.1021
Srivastava, A. (2020). Role of financial independence in uplifting the status of women. Ijciras, 3(7), 10–15.
U. N. Women. (1995). Beijing Declaration and Platform for Action-Beijing+ 5 Political Declaration and Outcome.
van den Bold, M., Quisumbing, A. R., & Gillespie, S. (2013). Women’s Empowerment and Nutrition: An Evidence Review. SSRN Electronic Journal, October. https://doi.org/10.2139/ssrn.2343160
van Rooij, M., Lusardi, A., & Alessie, R. (2011). Financial literacy and stock market participation. Journal of Financial Economics, 101(2), 449–472. https://doi.org/10.1016/J.JFINECO.2011.03.006
Wafula, P. S. (2022). Financial Literacy Around the World. Student Money Management Center University of Illinois.
Williams, A., & Rote, M. (2019, September). New Fraud Research: Low Financial Literacy Levels and Social Isolation Increase Consumers’ Likelihood of Being Scammed. FINRA Investor Education Foundation.
Women’s Economic Empowerment. (n.d.). Bill and Melinda Gates Foundation.
Xiao, J. J., Chatterjee, S., & Kim, J. (2014). Factors associated with financial independence of young adults. International Journal of Consumer Studies, 38(4), 394–403. https://doi.org/10.1111/ijcs.12106
Yin, H., & Yang, Q. (2022). Investor Financial Literacy, Decision-Making Behavior, and Stock Price Volatility—Evidence From Behavioral Experiments. Journal of Neuroscience, Psychology, and Economics, 15(2), 69–88. https://doi.org/10.1037/NPE0000158
Andriamahery, A., & Qamruzzaman, M. (2022). Do Access to Finance, Technical Know-How, and Financial Literacy Offer Women Empowerment Through Women’s Entrepreneurial Development? Frontiers in Psychology, 12(January), 1–16. https://doi.org/10.3389/fpsyg.2021.776844
Asghari, F., Sadeghi, A., & Aslani, K. (2013). Comparative Study of the Financial Independence, Self-Confidence and Decision-Making Power, Awareness of the Social Resources and Mental Health in the Women Members of SHG and Non- Member of SHG. Sociology Mind, 03(01), 114–117. https://doi.org/10.4236/sm.2013.31017
Atkiinson, A.; Messy, F. (2013). PROMOTING FINANCIAL INCLUSION THROUGH FINANCIAL EDUCATION.pdf. OECD Publishing. https://doi.org/10.1787/5K3XZ6M88SMP-EN
Bannon, S., Ford, K., & Meltzer, L. (2014). Financial Literacy Programs in the Workplace. The CPA Journal, 84(9), 67–71. https://www.proquest.com/openview/45480c1e0a7ce0ce06c2fe274a0a3091/1 ?pq-origsite=gscholar&cbl=41798
Bayissa, F. W., Smits, J., & Ruben, R. (2018). The Multidimensional Nature of Women’s Empowerment: Beyond the Economic Approach. Journal of International Development, 30(4), 661–690. https://doi.org/10.1002/jid.3268
Bayuk, J., & Altobello, S. A. (2019). Can gamification improve financial behavior? The moderating role of app expertise. International Journal of Bank Marketing, 37(4), 951–975. https://doi.org/10.1108/IJBM-04-2018-0086/FULL/XML
Beal, D. J., & Delpachitra, S. B. (2003). Financial Literacy Among Australian Universtiy Students. Economic Papers: A Journal of Applied Economics and Policy, 22(1), 65–78. https://doi.org/10.1111/j.1759-3441.2003.tb00337.x
Beverly, S. G., & Burkhalter, E. K. (2005). Improving the Financial Literacy and Practices of Youths. Children & Schools, 27(2), 121–124. https://doi.org/10.1093/cs/27.2.121
Bhattacharya, J., & Banerjee, S. (2012). Women Empowerment as Multidimensional Capability Enhancement: An Application of Structural-Equation-Modelling. https://doi.org/10.1002/pop4.7
Bhutoria, A., & Vignoles, A. (2018). Do Financial Education Interventions for Women from Poor Households Impact Their Financial Behaviors? Experimental Evidence from India. Https://Doi.Org/10.1080/19345747.2018.1465317, 11(3), 409–432. https://doi.org/10.1080/19345747.2018.1465317
Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77–101. https://doi.org/10.1191/1478088706qp063oa
Burke, S., & Redmond, G. (2002). Women’s Financial Independence: Australia in the 1980s and 1990s. Social Policy Research Centre.
Creswell, J. W. (2007). Five Qualitative Approaches to Inquiry. In Qualitative inquiry and research design: Choosing among five approaches (pp. 53–84). Thousand Oaks: Sage Publications. http://www.sxf.uevora.pt/wp- content/uploads/2013/03/Creswell_2007.pdf
D.A.T., K., Azam, S. M., & Khalidah, S. (2020). The Impact of Financial Literacy on Women’s Economic Empowerment in Developing Countries: A Study Among the Rural Poor Women in Sri Lanka. Asian Social Science, 16(2), 31. https://doi.org/10.5539/ass.v16n2p31
Dam, L. B., & Hotwani, M. (2018). Financial Literacy : Conceptual Framework and Scale Development. SAMVAD: SIBM Pune Research Journal, XV(June), 61– 69.
Easterby-Smith, M., Thorpe, R., Jackson, P. (Paul R. ., & Jaspersen, L. J. (2018). Management and Business Research. In Management and Business Research. SAGE Publications Ltd.
Fan, L., & Zhang, L. (2021). The Influence of Financial Education Sources on Emergency Savings: The Role of Financial Literacy. Family and Consumer Sciences Research Journal, 49(4), 344–361. https://doi.org/10.1111/fcsr.12400
Garcia-Moreno, C., & Amin, A. (2019). Violence against women: where are we 25 years after ICPD and where do we need to go? Sexual and Reproductive Health Matters, 27(1), 1–3. https://doi.org/10.1080/26410397.2019.1676533
Garg, N., & Singh, S. (2018). Financial literacy among youth. International Journal of Social Economics, 45(1), 173–186. https://doi.org/10.1108/IJSE-11-2016-0303
Global FinTech Adoption Index 2019. (2019). In Ernst & Young. https://assets.ey.com/content/dam/ey-sites/ey-com/en_gl/topics/banking-and- capital-markets/ey-global-fintech-adoption-index.pdf
Grohmann, A., Klühs, T., & Menkhoff, L. (2018). Does financial literacy improve financial inclusion? Cross country evidence. World Development, 111, 84–96. https://doi.org/10.1016/J.WORLDDEV.2018.06.020
Guo, L., Shi, F., & Tu, J. (2016). Textual analysis and machine leaning: Crack unstructured data in finance and accounting. In Journal of Finance and Data Science (Vol. 2, Issue 3). Elsevier B.V. https://doi.org/10.1016/j.jfds.2017.02.001
Gustman, A. L., Steinmeier, T. L., & Tabatabai, N. (2012). Financial Knowledge and Financial Literacy at the Household Level. American Economic Review: Papers & Proceedings, 102(3), 309–313. https://doi.org/10.1257/aer.102.3.309
Hendriks, S. (2019). The role of financial inclusion in driving women’s economic empowerment. Development in Practice, 29(8), 1029–1038. https://doi.org/10.1080/09614524.2019.1660308
Hung, A., Yoong, J., & Brown, E. (2012). Empowering Women Through Financial Awareness and Education. In OECD Working Papers on Finance, Insurance and Private Pensions (Issue 14). http://www.finlitedu.org/team- downloads/evaluation/hung-yoong-brown-2012pdf.pdf
Indian women are still financially dependent. (2022). TATA AIA. https://www.tataaia.com/about-us/media-center/2022/indian-women-are-still- financially-dependent.html
Jarrahi, M. H., & Newlands, G. (2024). Quality in qualitative research : Through the lens of validity , reliability and generalizability. March. https://doi.org/10.13140/RG.2.2.21444.23682
Kabeer, N. (1999). Resources , Agency , Achievements : Re ¯ ections on the Measurement of Women ’ s Empowerment P1 Pt Scope. Development and Change, 30(May), 435–464. https://doi.org/10.1111/1467-7660.00125
Klapper, L., Lusardi, A., & Van Oudheusden, P. (n.d.). Financial Literacy Around the World: Insights from the Standard & Poor’s Ratings Services Global Financial Literacy Survey. Retrieved February 11, 2023, from http://www.finlit.mhfi.com.
Koomson, I., Villano, R. A., & Hadley, D. (2021). Accelerating the impact of financial literacy training programmes on household consumption by empowering women. Applied Economics, 53(29), 3359–3376. https://doi.org/10.1080/00036846.2021.1878093
Krook, M. L., & O’Brien, D. Z. (2012). All the President’s Men? The Appointment of Female Cabinet Ministers Worldwide. Https://Doi.Org/10.1017/S0022381612000382, 74(3), 840–855. https://doi.org/10.1017/S0022381612000382
Kumar, P., Pillai, R., Kumar, N., & Tabash, M. I. (2022). The interplay of skills, digital financial literacy, capability, and autonomy in financial decision making and well-being. Borsa Istanbul Review. https://doi.org/10.1016/J.BIR.2022.09.012
Leyenaar, M. (2004). Political Empowerment of Women: The Netherlands and Other Countries. Martinus Nijhoff Publishers. https://doi.org/10.1163/9789047406358
Li, X. (2020). When financial literacy meets textual analysis: A conceptual review. Journal of Behavioral and Experimental Finance, 28, 100402. https://doi.org/10.1016/J.JBEF.2020.100402
Lusardi, A. (2019). Financial literacy and the need for financial education: evidence and implications. Swiss Journal of Economics and Statistics, 155(1), 1–8. https://doi.org/10.1186/S41937-019-0027-5/FIGURES/2
Lusardi, A., & Mitchell, O. S. (2011a). Financial literacy around the world: An overview. Journal of Pension Economics and Finance, 10(4), 497–508. https://doi.org/10.1017/S1474747211000448
Lusardi, A., & Mitchell, O. S. (2011b). Financial literacy and retirement planning in the United States. Journal of Pension Economics & Finance, 10(4), 509–525. https://doi.org/10.1017/S147474721100045X
Mandell, L. (2008). Financial literacy of high school students. In J. J. Xiao (Ed.), Handbook of Consumer Finance Research (pp. 163–183). Springer, New York, NY. https://doi.org/10.1007/978-0-387-75734-6_10
Marcolin, S., & Abraham, A. (2006). Financial literacy research: current literature and future opportunities. Faculty of Commerce - Papers (Archive). https://ro.uow.edu.au/commpapers/223
Mohanty, D. (2017). The Five Pillars of Women Empowerment: Let’s Be Bold for Change | LinkedIn. https://www.linkedin.com/pulse/five-pillars-women- empowerment-lets-bold-change-mohanty-scea-pmp/
Narayan, D. (2005). Measuring Empowerment : Cross Disciplinary Perspectives. https://doi.org/10.1596/0-8213-6057-4
Paiella, M. (2016). Financial literacy and subjective expectations questions: A validation exercise. Research in Economics, 70(2), 360–374. https://doi.org/10.1016/j.rie.2015.11.004
Pal, M., Gupta, H., & Joshi, Y. C. (2022). Social and economic empowerment of women through financial inclusion: empirical evidence from India. Equality, Diversity and Inclusion, 41(2), 294–305. https://doi.org/10.1108/EDI-04-2021- 0113/FULL/XML
Perrone, L., Vickers, M. H., & Jackson, D. (2015). Financial Independence as an Alternative to Work. Employee Responsibilities and Rights Journal, 27(3), 195– 211. https://doi.org/10.1007/s10672-015-9262-9
Saxena, A. (2021, March). Mumbai-based fintech startup LXME aims to bridge the gap between women and finance. Your Story.
Sen, G. (2019). Gender Equality and Women’s Empowerment: Feminist Mobilization for the
Sharma, E., & Das, S. (2021). Integrated model for women empowerment in rural India. Journal of International Development, 33(3), 594–611. https://doi.org/10.1002/JID.3539
Sharma, I. (2015). Violence against women: Where are the solutions? Indian Journal of Psychiatry, 57(2), 131. https://doi.org/10.4103/0019-5545.158133
Siscawati, M., Adelina, S., Eveline, R., & Anggriani, S. (2020). Gender Equality and Women Empowerment in The National Development of Indonesia. Journal of Strategic and Global Studies, 2(2), 3. https://doi.org/10.7454/jsgs.v2i2.1021
Srivastava, A. (2020). Role of financial independence in uplifting the status of women. Ijciras, 3(7), 10–15.
U. N. Women. (1995). Beijing Declaration and Platform for Action-Beijing+ 5 Political Declaration and Outcome.
van den Bold, M., Quisumbing, A. R., & Gillespie, S. (2013). Women’s Empowerment and Nutrition: An Evidence Review. SSRN Electronic Journal, October. https://doi.org/10.2139/ssrn.2343160
van Rooij, M., Lusardi, A., & Alessie, R. (2011). Financial literacy and stock market participation. Journal of Financial Economics, 101(2), 449–472. https://doi.org/10.1016/J.JFINECO.2011.03.006
Wafula, P. S. (2022). Financial Literacy Around the World. Student Money Management Center University of Illinois.
Williams, A., & Rote, M. (2019, September). New Fraud Research: Low Financial Literacy Levels and Social Isolation Increase Consumers’ Likelihood of Being Scammed. FINRA Investor Education Foundation.
Women’s Economic Empowerment. (n.d.). Bill and Melinda Gates Foundation.
Xiao, J. J., Chatterjee, S., & Kim, J. (2014). Factors associated with financial independence of young adults. International Journal of Consumer Studies, 38(4), 394–403. https://doi.org/10.1111/ijcs.12106
Yin, H., & Yang, Q. (2022). Investor Financial Literacy, Decision-Making Behavior, and Stock Price Volatility—Evidence From Behavioral Experiments. Journal of Neuroscience, Psychology, and Economics, 15(2), 69–88. https://doi.org/10.1037/NPE0000158
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Fostering Financial Independence Among Women in India – A Case Study of LXME. (2025). Journal of BRICS Studies, 4(1), 108-120. https://doi.org/10.36615/4y2ase90
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Fostering Financial Independence Among Women in India – A Case Study of LXME. (2025). Journal of BRICS Studies, 4(1), 108-120. https://doi.org/10.36615/4y2ase90