Financial literacy knowledge assessment among college students in Hyderabad, India

2021 ◽  
Vol 22 (2/3) ◽  
pp. 117
Author(s):  
Suseela Kanduri
Keyword(s):  
College Students ◽  
Financial Literacy ◽  
Knowledge Assessment ◽  
Literacy Knowledge

scholarly journals Financial Literacy and Behavioral Biases among Traditional Age College Students

2018 ◽  
Vol 8 (1) ◽  
pp. 30
Author(s):  
Ohaness Paskelian ◽  
Kevin Jones ◽  
Stephen Bell ◽  
Robert Kao
Keyword(s):  
College Students ◽  
Financial Literacy ◽  
Retirement Savings ◽  
Retirement Plans ◽  
Private Companies ◽  
Financial Decisions ◽  
Personal Finances ◽  
The Status ◽  
Literacy Knowledge ◽  
Short Run

Financial literacy and planning are crucial for everyone. This is especially true for college students who as the decisions they make in this stage of their lives can haunt them throughout their income earning years and beyond. In this paper, we examine several financial literacy issues facing college students. We identify college students’ perceptions about their own financial situation, assess student financial literacy knowledge, as well as evaluate their awareness about the status of their savings and retirement positions. We find that basic financial literacy is not the only factor in making sound financial decisions. Our results show the majority of the college students surveyed are financially literate and have the ability to make informed decisions about their personal finances in the short-run. While our respondents appear confident in making short-run financial decisions, their behavior tends to suggest that their confidence is somewhat misguided. In addition, a large number of the students surveyed feel they do not have the requisite knowledge to make wise retirement planning choices. Furthermore, several respondents report a distrust of retirement plans offer by private companies, which may lead to suboptimal retirement savings.

The Impact of University Curricula on Financial Education of Millennials

2022 ◽  
pp. 208-245
Author(s):  
José G. Vargas-Hernández ◽  
María Fernanda Higuera Cota
Keyword(s):  
Financial Literacy ◽  
Research Method ◽  
Financial Education ◽  
Limited Information ◽  
General Hypothesis ◽  
Literacy Knowledge ◽  
Independent Variable ◽  
University Curricula ◽  
The Impact ◽  
The Relationship

The objective of this research is to analyze the financial literacy knowledge of the Millennial generation. The research method is qualitative-quantitative of correlational type since it consists of identifying the relationship between the independent variable and the dependent variable. The general hypothesis is that limited financial education in curricula affects the financial education of the Millennials. Through the information gathered and the surveys applied, it is evident that Millennials have no financial knowledge and university curricula have limited information on financial education.

How Financial Literacy, Federal Aid Knowledge, and Credit Market Experience Predict Loan Aversion for Education

2017 ◽  
Vol 671 (1) ◽  
pp. 49-68 ◽  
Author(s):  
Angela Boatman ◽  
Brent J. Evans
Keyword(s):  
College Students ◽  
Community College ◽  
Community College Students ◽  
Financial Literacy ◽  
Fixed Effects ◽  
Student Loans ◽  
Student Loan ◽  
Market Experience ◽  
Financial Characteristics ◽  
Survey Responses

Many students are averse to taking out loans to pay for education—a phenomenon that is commonly discussed but rarely systematically analyzed. This study explores the relationship between student loan aversion and individual financial characteristics. In this analysis, we rely on a unique dataset of survey responses from more than 5,000 high school seniors, community college students who did and did not borrow for higher education, and adults without a college degree. Regression analyses, using a robust set of controls and institutional fixed effects, show that higher financial literacy and higher knowledge of federal student loans are related to lower loan aversion for education. The magnitude of these effects is large, as much as a 30 to 50 percent reduction in loan aversion in some samples. There is also evidence that prior experience with payday lending is related to increased loan aversion for community college students who did not borrow for college.

Financial Literacy of Indian Youth: A Study on the Twin Cities of Hyderabad–Secunderabad

2016 ◽  
Vol 6 (2) ◽  
pp. 132-147
Author(s):  
Mousumi Singha Mahapatra ◽  
Swati Alok ◽  
Jayasree Raveendran
Keyword(s):  
College Students ◽  
Financial Literacy ◽  
Financial Planning ◽  
Parental Influence ◽  
Negative Impact ◽  
Positive Impact ◽  
Twin Cities ◽  
Different Types ◽  
The Status

A person’s capability to manage financial matters has become important in today’s world. Availability of different types of sophisticated financial products coupled with the complexity and increased uncertainty of the economy and financial markets have generated a strong move to measure and study financial literacy among investors. The present article aims to analyze the status of financial literacy of college students with three identified antecedents, namely, socio-demographic characteristics, parental influence and attitude towards financial planning. A sample of 425 students from various colleges of the Hyderabad–Secunderabad region was studied to understand the role of the identified antecedents on financial literacy. The results of logistic regression analysis support the hypothesis that financial literacy of Indian college students is influenced by their socio-demographic characters, parental influence and their attitude towards financial planning. While both socio-demographic and parental influences have a positive impact on financial literacy, attitude towards financial planning is observed to have a negative impact.

scholarly journals The Importance of Financial Literacy Knowledge For Elementary School Students In 21st Century

EFEKTOR ◽  
2019 ◽  
Vol 6 (1) ◽  
pp. 26
Author(s):  
Ayu Perdanasari ◽  
Sudiyanto Sudiyanto ◽  
Dini Octoria
Keyword(s):  
Elementary School ◽  
Data Analysis ◽  
Elementary School Students ◽  
21St Century ◽  
Student Development ◽  
Financial Literacy ◽  
Literature Study ◽  
School Students ◽  
Literacy Knowledge

Life in the 21st century requires a variety of skills that an individual must master in order to become a successful person in life. Skills in managing finances are needed. Therefore, the need for financial literacy knowledge is taught early, especially in schools so that it will accumulate into adulthood. This article aimed to explain the importance of financial literacy knowledge for elementary school students in the 21st century. Data collection used observation, literature study, and documentation. Data sources from informants and documents. Data analysis used qualitative data analysis of interactive models. The findings showed that students at elementary schools prefer to buy objects that are desired rather than needed. This shows the importance of financial literacy knowledge for elementary school students. This is supported by the results of a literature study that financial literacy knowledge will be useful in managing students' finances for now and in the future. Therefore, it is expected that the role of the teacher in providing teaching material about financial literacy in accordance with the stages of student development.

scholarly journals PENGARUH LITERASI KEUANGAN TERHADAP PERILAKU KEUANGAN MAHASISWA

2021 ◽  
pp. 127
Author(s):  
Wayan Tari Indra Putri ◽  
Kadek Nita Sumiari
Keyword(s):  
Regression Analysis ◽  
Financial Literacy ◽  
Financial Management ◽  
Linear Regression Analysis ◽  
Financial Inclusion ◽  
Financial Behavior ◽  
Test Results ◽  
Simple Linear Regression ◽  
Literacy Knowledge

Having knowledge of financial literacy is a must in order to have a prosperous life. Currently the OJK is working to improve financial inclusion and literacy, especially among students. This step is a form of effort to increase the role of students in the Indonesian economy. As the next generation, a student must have knowledge related to personal financial management. This knowledge will be very useful for students to manage their finances in the future. Four diploma students majoring in Accounting at the Bali State Polytechnic have obtained courses related to finance and investment so that they should have a good level of financial literacy knowledge. The purpose of this research is to examine the effect of financial literacy on student financial behavior. Respondents in this study amounted to 95 people. The data in this study were analyzed using simple linear regression analysis. The results of this study are that there is an influence between financial literacy variables on student financial behavior. The test results show that the better the knowledge or understanding of financial literacy possessed by students, the better the student's ability to implement good financial behavior.

scholarly journals The Habit of Savings among College students

2020 ◽  
pp. 38-43
Author(s):  
David Doe Fiergbor
Keyword(s):  
College Students ◽  
Financial Literacy ◽  
Financial Management ◽  
Economic Value ◽  
Money Management ◽  
Wealth Creation ◽  
Management Skills ◽  
Management Plans ◽  
Key Money ◽  
To Come

It is not easy to come by money however, money can easily ‘leave' one's possession if not properly managed. Money management skills are therefore important skills for life especially in the youthful days as wealth creation is not entirely about how hardworking an individual is but factors such as his/her ability to understand how money works and apply its management principles are of essence. Savings play an integral aspect of an individual’s financial management skills since it is the bedrock of personal financial success. Savings is not just about setting money aside for future use but also has to do with keeping anything of economic value. Savings are securing assurance today for tomorrow's uncertainties. This paper sought to examine the habit of savings among the college students. The result indicated that the majority of the college students do not save as a result of certain contributory factors such as meager salaries and economic hardships. Also, the majority of the college students do not have definite financial management plans such as savings as a result of inadequate financial literacy. The study concluded on the need for public education on key money management skills such as savings which is a recipe for wealth creation.  

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