study on financial literacy among college students

Abstract

Financial literacy is increasingly important as it has become essential that individuals acquire the skills to be able to survive in modern society and cope with the increasing diversity and complexity of financial products and services available. Financial literacy is the ability to make informed judgments and to take effective decisions regarding the use and management of money. It enables individuals to improve their overall wellbeing and to plan for their future security. The main objective of the study is to analyse the level of financial literacy among the college students. Both the primary and secondary data has been used in this study. Knowledge on money management, savings, investments, and credit has been considered to measure the financial literacy level and students current and past manners related to same dimensions is used to measure financial behavior using questionnaire. In this study, the results were analyzed based on gender and qualification. Significant relationships were found between financial literacy and student characteristics.