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Dr.V.Sivakumar

Dr. A. Balagurusamy

Dr.A.Shanthi

Abstract

This study explores the intricate relationship between financial behavior and financial well-being, emphasizing the critical role of personal financial planning. In an era where financial stability is pivotal to individual and societal progress, understanding how financial behaviors influence overall well-being is essential. The research investigates various aspects of financial behavior, including budgeting, saving, investing, and spending patterns, and their impact on psychological and emotional health. A comprehensive survey was conducted on 204 investors of Coimbatore involving diverse demographics. This study identifies key factors that contribute to effective personal financial planning and its positive effects on well-being. The findings reveal that individuals who engage in proactive financial planning and exhibit disciplined financial behaviors report higher levels of life satisfaction and reduced stress. The study highlights the importance of financial literacy as a catalyst for improved financial decision-making and well-being. The insights gained from this research provide valuable guidance for individuals seeking to enhance their financial health and for policymakers aiming to design programs that promote financial literacy and well-being. This study underscores the transformative power of personal financial planning in fostering financial security and improving quality of life.

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