The Relationship Between Financial Self-Efficacy and Financial Behavior of College Students

Abstract

This research explores the relationship between college students' financial well-being and financial self-efficacy, contributing to the understanding of how self-confidence in financial management influences overall financial health. A quantitative methodology was employed, utilizing an online survey distributed to 150 tertiary students through social media, with data collected on the two variables using Likert scales. The investigation revealed a moderate positive correlation (path coefficient of 0.348, p < 0.001) between the two constructs, indicating that Better financial well-being is linked to stronger financial self-efficacy. According to these results, increasing financial self-efficacy may help financial education initiatives aimed at students DOI: