EXPLORING LEVELS OF FINANCIAL LITERACY AMONG UNIVERSITY OFZAMBIA FINAL YEAR STUDENTS

Abstract

This paper explored the levels of knowledge of financial literacy among University of Zambia final year students. Aquestionnaire was administered to 172 pre-final graduates who were sampled systematically. SPSS version 22 was usedto analyse the data. Theresults generally indicate that the level of financial literacy among University of Zambia finalyear students shows that they were well versed with the benefits of financial literacy. There levels Zambia is above averageand gender is not a factor regarding personal financial management practices in terms of holding an account across alltypes of accounts except for the student account, which was significant p < 0.05. The results are not generalizable to thewider population of University students and inorder to allow such generalization, a study should be conducted using alarger sample and embracing all university students in the country. This paper describes a pioneer study on levels offinancial literacy. This topic can be improved as the need for rigorous evaluation of financial literacy grows at the samespeed as the creation of more complex financial products.