Author

Bharat Singh Thapa and Surendra Raj Nepal

Abstract

This study surveys 436 college students to examine their financial literacy; the impact of
demographic, educational and personality characteristics on financial literacy. Mean, ANOVA
and logistic regression were used in carrying out analysis. Results show that most of the students
have basic level of financial knowledge but they lack in understanding of credit, taxes, share
market, financial statement and insurance. Students are highly influenced by their parents at home
and they have positive attitude towards savings. The study further identified income, age, stream
of education, types of college, and attitude of students as determinants of financial knowledge; and
financial knowledge is unaffected by gender, university affiliation, financial behavior and
influence. It is concluded that college students have basic level of financial knowledge. However,
overall financial knowledge of the students is affected by some of their demographic, educational
and personality characteristics.