How financial literacy affects on financial behavior of university students in Ho Chi Minh City

Abstract

This study looks at the factors that influence university students' financial behavior (FB) at universities in Ho Chi Minh City. It investigates whether university students' financial behavior, confidence, and views of financial literacy vary according to their level of financial literacy. A questionnaire that asked about personal information, financial impressions, and financial knowledge was used to collect the data. A total of 200 students made up a suitable total sample for the study. According to a t-test study, university students' judgments of FB, confidence, and financial literacy varied considerably by financial literacy level. Our findings indicate that undergraduate university students are more overconfident; such FB is associated with the root causes of financial crises throughout the world. An OLS regression model investigation revealed that the perception of financial literacy and confidence had a substantial impact on the FB of classified university students. University students' financial knowledge, confidence, and personal traits should be considered in order to comprehend their financial behavior. Academicians, professionals, and future researchers will be able to study this research work and take into account future research in the same area attributable to the collection, classification, and comprehensive literature on the effects of financial literacy on financial behavior provided in the present paper.