Abstract:
This study examined the relationship between financial literacy and investment decision, focusing on the case of government hospital workers in Sekondi-Takoradi Metropolis. The study discussed the human capital theory, behavioural economics theory, the concept of financial literacy and investment decision as part of the theoretical and conceptual analysis. This dissertation utilised the positivism research paradigm and the quantitative research approach. The study was analysed using descriptive and inferential statistics to examine the relationship between financial literacy and investment decision. In all, 323 government hospital workers in Sekondi-Takoradi Metropolis were included in the study, and the research employed questionnaire to elicit the required data for the study. The findings demonstrated that the health workers exhibited strong abilities in budgeting and interest in financial news, moderate skills in planning for future financial needs and using financial products, but lower confidence in choosing financial services and comparing prices. The study also found out that health workers in Sekondi-Takoradi Metropolis show a proactive approach to investment decision-making, particularly in seeking high returns and gathering information on investment opportunities. Also, the study found out that financial literacy has a significant positive impact on the investment decisions of health workers. Based on the results, it is recommended that, management should implement targeted financial education programs. In addition, should offer specialized training on risk assessment and management to ensure health workers can thoroughly evaluate investment risks and make informed decisions.
