A STUDY OF EFFECT OF FINANCIAL LITERACY ON INVESTMENT DECISION AMONG RETAIL INVESTORS IN KADUNA METROPOLIS

EFFECT OF FINANCIAL LITERACY ON INVESTMENT DECISION AMONG RETAIL INVESTORS IN KADUNA METROPOLIS

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EFFECT OF FINANCIAL LITERACY ON INVESTMENT DECISION AMONG RETAIL INVESTORS IN KADUNA METROPOLIS

Abstract

This study examines the effect of financial literacy on investment decision-making among retail investors in Kaduna Metropolis. Financial literacy, encompassing knowledge of basic financial concepts, risk management, and investment strategies, plays a pivotal role in guiding informed and rational investment decisions. The research adopts a mixed-method approach, combining quantitative data collected through structured questionnaires from 300 retail investors and qualitative insights from in-depth interviews with financial advisors and investment professionals in the region.

Findings reveal that financial literacy significantly influences the investment decisions of retail investors, particularly in their ability to evaluate risk, diversify portfolios, and choose suitable investment instruments. Retail investors with higher financial literacy levels demonstrate greater confidence in investment decisions, leading to more consistent returns and reduced exposure to market volatility. Conversely, a lack of financial literacy is strongly associated with impulsive decision-making, over-reliance on informal advice, and susceptibility to investment fraud.

The study also identifies demographic factors, such as age, education level, and income, as key determinants of financial literacy and their subsequent impact on investment behavior. Furthermore, it highlights the critical role of financial education programs and accessible investment advisory services in enhancing financial literacy among retail investors.

This research underscores the need for policymakers, financial institutions, and educational bodies to prioritize financial literacy initiatives tailored to retail investors in Kaduna Metropolis. By fostering a financially literate population, these efforts can empower individuals to make informed investment decisions, improve financial well-being, and contribute to the economic development of the region.

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