This study aimed to assess the financial literacy and saving behavior of women living in woredarn12 of Kolfe Sub City. Descriptive survey design was employed to conduct the research. From thernexisting 11 institutions, only eight associations were considered having 107 female membersrntaken inclusively. Both qualitative & Quantitative data collection method were employed torncollect data & Quantitative data processed in SPSS v.20.00 statistical software. The findings ofrnthe study indicated that financial literacy and saving character are interrelated. Besides, thernstatus of financial literacy in the study area was found as poor. As to the determinant factors,rnWomen marital status, respondents income level, the respondents attitude towards the effect ofrnfinancial knowledge, home responsibility (burden at domestic activities), less opportunity torneducation, job and property, high level of debit and low income on the saving culture werernindicated as the major factors affecting the saving behavior of Women in the study area. Thernstudy also indicated that the majority of women had a bank/credit account while in contrast, stillrnsignificant number of women or their husband didnâ€™t open the bank/credit account yet. Finally,rnthe study indicated that starting saving too late in life, disproportionate the current and futurernconsumption and women and their children would not have an equal chance at becomingrnfinancially secure were the major consequences for womenâ€™s lake of financial literacyrnKey words: financial literacy, saving behavior, adult literacy