Assessment of the Factors Impacting the Financial Management Skills among University Students: The Moderating Effect of Financial Education

Abstract

Personal financial management is crucial for economic stability and social progress. This study examines undergraduate students' financial management aspects and fills a fundamental research gap. It expands on previous research by investigating how financial education mediates the effect of financial attitude on personal financial management. This research has practical, scientific, theoretical, and policy consequences. Financial attitude, family financial socialization, and financial capacity affect students' financial behaviour. The research also shows that financial education moderates and may improve financial literacy. Exploratory and confirmatory factor analysis and structural equation modeling were used to analyze 397 Vietnamese students' data. The results show that financial attitude, family financial socialization, and financial attitude strongly influence students' financial management. Financial knowledge is essential for financial improvement. Beyond local relevance, these findings might help policymakers, educators, and stakeholders build tailored financial education programs. Strong financial management abilities enhance students' financial stability and boost economic progress.