The Role of Financial Literacy in Shaping Financial Behavior: Evidence from the Selected Students of the University of the Philippines Open University

Date

6-2024

Degree

Bachelor of Science in Economics

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Maria Luisa G. Valera

Committee Member

Gideon P. Carnaje, Ma. Angeles P. Catelo

Abstract

Recognizing the role of financial literacy on financial behavior is a crucial step in shaping the financial well-being of the individuals, particularly the young adults. In view of that, this study examines the relationship between financial literacy and financial behavior of undergraduate students in the University of the Philippines Open University (UPOU). Drawing on existing literature, the financial literacy is measured using the OECD Financial Literacy Toolkit. Based on the ordered logit regression, having a higher financial literacy scores can lead to better financial behavior in terms of spending,budgeting, and saving. Additionally, those young adults who have taken any financial- related courses have a better score both in budgeting and saving aspects as compared totheir counterparts. Thus, to better improve the financial behavior of young adults a more comprehensive financial education is necessary.

Language

English

LC Subject

Financial Literacy, Assessment of Behavior

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993.5 2024 E2 R59

Notes

Viewing access to electronic resources is restricted solely to UP Gmail accounts. Any access and share requests from external organizations and personal email accounts will be promptly declined.

Document Type

Thesis

Link to Full Text

Share

COinS