Investigating the Factors Affecting Financial Literacy among University Students: A Case study of The Islamia University of Bahawalpur and Bahauddin Zakariya University of Multan

Abstract

Financial knowledge is necessary for money management. The objective of this research is to determine the level of financial knowledge and its effect on financial literacy among university students in Punjab, Pakistan. The data was collected through a questionnaire among the different management, economic, and business students in the different universities of Punjab, Pakistan. Data were analyzed through Smart-PLS. Results showed a significant effect of financial attitude and financial Behavior on financial literacy. It also indicates that financial Behavior and financial attitude have a direct positive effect on financial literacy. While the financial influence has a non-significant and negative impact on financial literacy. This research helps to contribute to the review of literature on determinants of financial literacy among university students in the future.