Financial Literacy Among Students

Abstract

This study surveys 200 plus two students among Bharatpur metropolitan city to examine their financial literacy; the impact of demographic, educational and personality characteristics on financial literacy. The research is a descriptive and analytical research design. The main research strategy used in this study is a survey questionnaire which allows quantitative data collection and analyzed. Mean, ANOVA and Independent Sample T-Test were used in carrying out analysis.

Results show that most of the students have lower Level of financial knowledge but they lack in understanding of money illusion, compound interest and inflation. Students are highly influenced by their life experience and job and they have positive attitude towards savings. The study further identified income, education Level, education stream and financial behavior as determinants of financial knowledge; and financial knowledge is unaffected by gender, financial influence and financial attitude. It is concluded that students have lower Level of financial knowledge. However, overall financial knowledge of the students is affected by some of their demographic, educational and personality characteristics. The study can be useful for Nepal Rastra Bank, stakeholders, banking and Financial Institutions, researcher, general public and more for introduce new policy and rule for improving level of literacy among students. The government need to know or understand and implement the policy and strategy for financial literacy program for developing or upgrading overall academic financial condition. It can be beneficially for whole nation and individuals. New researcher can be added other students from different Level, stream, city and sectors as well. Similarly, research consists with an independent variable namely demographic variables thus new researcher can be added social variables, economic variables and others variables as an independent variable.

Key word: Financial Literacy, Financial Knowledge, Financial Behavior, Financial Influences, Financial Attitude, +2 students, Chitwan, Nepal .