An Evaluation of the Effect of Financial Literacy Education on Financial Literacy among College Students

Abstract

The aim of this research is to evaluate the effect of financial literacy education on financial literacy among college students, and to determine the financial literacy level of college students, and to explore whether individual characteristics have an effect on financial literacy level. 149 students, who have been receiving education in the state university vocational school, were hereby included into this research, and students were split into two categories randomly. No statistically-meaningful difference has been found between these two groups with regard to gender difference and age disparity (p>0,05). One of these group had been receiving training with regard to financial literacy for two (2) weeks. After such training process, Financial Literacy Scale had been applied to both groups. As a result of analysis applied thereof, it was determined that all students attended to financial literacy education had intermediate level of financial literacy (52,17±17,67), and financial literacy education had an effect on financial literacy (p<0,05). Besides this, it was also determined that gender, class, the usage of internet banking and fathers’ education level had significant effects on financial literacy (p<0,05).