Name: TUMESHWAR , RAMESHWAR MANDAVI & SURAJ SAHU
Country: India

Year: 2026
Volume: Volume-13, Issue-2, Year-2026 ( july- dec)
Page Number: 1-8
DOI: https://doi.org/10.5281/zenodo.21424676

ABSTRACT
This research paper presents a comprehensive analysis of the financial literacy levels, income sources, and pocket money management strategies among students at Government Danteshwari PG College, Dantewada, in the Bastar region. The study uniquely captures a tribal-dominated demographic, where 69.2% of the 104 respondents belong to the Scheduled Tribe (ST) category. Through rigorous primary data analysis, the study reveals that while theoretical financial confidence is high, practical execution falters. The transition to frictionless digital payments (with 57.7% primarily using UPI) has catalyzed impulsive buying behavior, significantly escalating expenditures even among those who claim immunity to peer pressure. Additionally, a Chi-Square test (χ² = 10.64, p = 0.1002, df = 6) at a 90% confidence level is statistically suggestive but not significant regarding the link between ‘self-earned income’ and ‘financial discipline,’ lending support to Richard Thaler’s Mental Accounting theory. Despite behavioral gaps, a highly positive trend emerges with 94.2% of students exhibiting saving habits, highlighting a latent drive for self-reliance and future financial planning.

Keywords: Financial literacy, pocket money management, digital payments, impulsive buying, financial discipline, Mental Accounting, Behavioral Economics, tribal demographics.