Determinants of the Financial Literacy among College Students in Malaysia

Abstract

Objective: The purpose of this study is to investigate the factors influencing the financial literacy among university students in Malaysia.Methods: Data for this study was collected through self-administered questionnaire and distributed through convenient sampling method. A total of 105 completed and usable questionnaires have been collected. Pearson Correlation analysis and multiple regression tables were used to determine the interrelation of different variables in financial literacy.Results: Empirical results show that there is a significant relationship between independent variables of education, and money attitude towards the dependent variable of financial literacy, while there found no relationship between financial socialization agents and financial literacy.Conclusions: This study is important so as to understand how these independent variables affect the literacy rate of young adults. Efforts may be put to strengthen those variables in order increase the literacy rates of those university students.