Factors Influencing the Financial Decisions of Working Professionals in Kolhapur City.
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Abstract
Financial decisions play an important role in shaping individuals financial security and stability, particularly among working professionals who must carefully manage both present needs and future aspirations. In a rapidly developing economy like India, where a large proportion of the population consists of salaried employees and professionals, financial planning has become increasingly important. Rising living standards, persistent inflation, and economic uncertainties have made it essential for individuals to adopt systematic saving habits and make informed financial decisions. Kolhapur City in Maharashtra represents a growing urban center with a diverse group of working professionals, including teachers, engineers, doctors, bankers, IT employees, and entrepreneurs. These individuals belong to varied income groups and exhibit different levels of financial awareness, risk tolerance, and investment preferences. Such diversity makes it important to understand how financial decisions are shaped in a semi-urban context. The present study focuses on factors influencing the financial decions of working professionals in Kolhapur City. It focuses on how personal, economic, and social factors shape their financial choices and explores the challenges they face when making those decisions. The findings may help identify areas where improved financial awareness and planning support could contribute to more informed financial decision-making.
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