International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Volume 7 Issue 2
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Money Talks: How Financially Literate Are College Students?

Author(s) Prof. Dr. MARICEL AQUINO PASCUA-RAMOS
Country Philippines
Abstract Financial literacy plays a very significant role in an individual’s financial well-being, yet many college students exhibit the lack of financial knowledge and skills necessary to make informed financial decisions. This study was thus conducted to assess the financial literacy of college students of Saint Ferdinand College, City of Ilagan, Isabela which focused on three main variables: financial knowledge, financial behavior and financial attitude. Using a descriptive quantitative design and Slovin’s formula, data were collected from 423 students who were selected randomly through an adapted structured financial literacy survey questionnaire. The findings revealed that while students showed a high level of both financial behavior and financial attitude, their financial knowledge appears to be low, specifically in areas of inflation and interest rate concepts. Results also showed significant differences in the financial literacy levels based on the students’ demographic profiles such as age, sex, course, year level, civil status, and monthly allowance. In addition, a positive relationship was established among the three variables of financial literacy albeit the weak positive relationship found in financial knowledge with both financial behavior and financial attitude. This study thus proposed some suitable programs that may be implemented to improve the students’ level of financial knowledge and enhance further their financial behavior and financial attitude thereby achieving better financial decision-making skills.
Keywords financial literacy, financial knowledge, financial behavior, financial attitude, financial education
Field Business Administration
Published In Volume 7, Issue 2, March-April 2025
Published On 2025-04-04
DOI https://doi.org/10.36948/ijfmr.2025.v07i02.40340
Short DOI https://doi.org/g9dgv8
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