Impact of Financial Literacy on Saving Behavior among the III Year Students of Four Colleges under Royal University of Bhutan


Authors : Thinley Choden; Dechen Wangdi; Jamyang Tenzin; Pema Khandu; Phub Dema; Sangay Dema; Rigzin Wangmo; Yeshi Choden

Volume/Issue : Volume 6 - 2021, Issue 12 - December

Google Scholar : http://bitly.ws/gu88

Scribd : https://bit.ly/3z4Ggl3

Purpose/aim: This study was carried out to measure the level of financial literacy among the final year students of four colleges under RUB and to identify the impact of financial literacy (Financial Knowledge, Financial Attitude, and Financial Management Skills) on their saving behavior. Methodology: Inferential statistic research design was adopted for this study.32 quantitative based questionnaires were distributed to all the final year students of four colleges under Royal University of Bhutan. They were requested to rate their level of knowledge, attitude, skills and saving behavior. Inferential Statistics and pie chart were used to generate the results. Results: The study found out that final year students of Gedu College of Business Studies have high level of financial literacy compared to other three colleges. Further, the study reveals that financial literacy (Financial Knowledge, Financial Attitude, Financial Management Skills) possessed by final year students have a significant impact on their saving behavior. However, gender, age and family monthly income of the respondents does not have significant difference on their saving behavior. Conclusion: Based on the findings, policy makers should integrate financial education as formal curriculum in all the colleges that will enhance the students’ level of financial literacy. The result of this research may inform university authorities in encouraging the teaching of financial literacy among university students

Keywords : Saving Behavior, Financial Literacy, Financial Knowledge, Financial Attitude, Financial Management Skills, Four RUB Colleges and Final Year Students.

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