The Measurement Levels of Financial Literacy among Postgraduate Management Students: An Empirical Study in Andhra Pradesh State

Abstract

Financial literacy is essential to enable students manage their finances and take advantage of investment opportunities. It is against this background that this study investigates financial literacy of Postgraduate management students in the region of Jawaharlal Nehru Technological University, Kakinada (JNTUK), in Andhra Pradesh. It employs a stratified random sampling technique to sample 203 Postgraduate students using questionnaire as the research instrument. This study reveals that formal education is the main source of financial literacy of Postgraduate students, followed by parents, the media, and peers. Level 400 students are the most literate financially followed by level 300, 100 and 200 students. Also, financial literacy is highest among accounting students followed by banking and finance, marketing, and human resource management students.