Analyzing the factors influencing university students' financial literacy

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Sirli Mändmaa


Financial literacy is necessary skill for life that could be improved through financial education. To enhance financial education, it is important to examine more deeply how students' financial knowledge and personal background affects their views on personal finance issues and financial decision making. This study analyzing the questionnaire survey results of 522 university students to assess the relationships between the financial literacy and students' financial opinions and choices; and the impact of educational and demographical characteristics to the participants' financial literacy, opinions and choices. Results of regression analyze show that statistically significant impact on the financial literacy have factors as gender, nationality, academic discipline, and financial choices and opinion, as holding a debit card, a bank loan, plan the financial affairs in advance on a daily basis and an interest to get more information about financial services and monetary affairs. Students studying in the science or mathematics oriented subjects have more knowledge in finance, especially male students. These results of study enable to develop financial education and give the direction for future research.


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How to Cite
Mändmaa, S. (2019). Analyzing the factors influencing university students’ financial literacy. International Journal for Innovation Education and Research, 7(7), 465-497.


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