India took a defeat when it came to ‘discussion with your children ages 5-17 about money management issues’. Indians raked 23rd with a score of 19.6, while Mexico (80.2), Brazil (73.2) and Serbia (59.5) took the top 3 spots. Moreover, the reports reveal that 43 percent of Indian women did not speak to their children about money management issues because a lack of understanding on their own part. Comparatively, only 20 percent of Indian men were of the same opinion.

Financial Literacy is termed as the knowledge and ability of an individual to make informed and effective money management decisions. According to the survey Indian respondents are lower than average in overall ranking amongst the 28 countries. But, several key factors used by the survey to judge the financial literacy levels are in some ways knotted with the social structure of an average Indian family. Not all Indian women are working women and a majority is still caring homemakers, leaving them with little need to worry about finances.