Sonu Dalal

Type of the article: Research Article

Abstract
In today’s dynamic financial environment, understanding the psychological and cognitive factors that shape saving behavior is important for strengthening financial stability and well-being. This study examines the influence of financial knowledge and financial attitude on the saving behavior of working women in Haryana (India). Furthermore, the study also examines the mediating role of the internal locus of control in these relationships. A primary survey is conducted between December 2023 and April 2025, using a self-administered questionnaire. Data are collected from 225 working women through a non-probability sampling method and analyzed using Smart PLS version 4.0. The findings indicate that financial knowledge and financial attitude significantly and positively affect internal locus of control and saving behavior, respectively. Working women with a positive financial mindset and greater financial understanding believe in their ability to manage financial outcomes and engage in consistent saving practices. Internal locus of control also positively influences saving behavior and serves as a significant mediator in the relationships between financial knowledge and saving behavior, and between financial attitude and saving behavior. Notably, the mediation of the internal locus of control between financial attitude and saving behavior shows a stronger influence than its mediation between financial knowledge and saving behavior.