Determinants of Financial Decision making among Working versus Household Women in Pakistan

Abstract

This study explores the factors that shape how women both in their households and professional roles make financial decisions. A mixedmethod approach was used to answer the research questions. In the first phase, a survey was conducted to assess aspects such as financial support, personality traits, professional orientation, perceived risk, and financial knowledge. In the second phase, interviews were carried out with women from both household and professional backgrounds to understand their decision-making processes. Insights from these interviews were used to validate the chosen research questions and tools. Once validated, questionnaires were distributed to collect data. The findings reveal that personality traits and financial knowledge have a strong positive impact on women’s financial decision-making, while perceived risk tends to reduce the likelihood of making such decisions. In contrast, financial support and professional orientation were found to have no significant effect. Overall, the results emphasize the crucial role of  financial knowledge and personality traits in shaping women’s financial behaviors