THE IMPACT OF FINANCIAL LITERACY ON FINANCIAL PLANNING BEHAVIOUR AMONG UNIMAS STUDENTS
DOI:
https://doi.org/10.33736/uraf.11097.2025Keywords:
Financial literacy, financial planning behavior, financial awareness, financial knowledge, and financial skillsAbstract
This research investigates the impact of financial literacy on the financial planning behavior of university students at Universiti Malaysia Sarawak (UNIMAS). This study highlights the importance of financial literacy in encouraging responsible money management by focusing on three main areas: financial awareness, knowledge, and skills. Employing a quantitative approach, primary data were collected through structured questionnaires administered electronically to 400 undergraduate and postgraduate students. Multiple linear regression was used in the data analysis process to ascertain the impact of literacy aspects on financial planning behavior, which includes debt management, saving, and budgeting, and descriptive statistics to profile respondents. The results show that students' financial planning practices are highly impacted by all three aspects of financial literacy, with financial knowledge having the biggest impact. The findings highlight how crucial focused financial education is in helping young adults develop sound financial habits. This study offers valuable insights for educators and policymakers seeking to enhance financial literacy programs within higher education institutions to foster better financial decision-making among students.
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