Title: Financial Literacy Level And Socio-Economic Factors Of Business Students In District Peshawar, Pakistan
Authors: Hadiqa Saeed, Ilham Dr. Sajad Ali
Volume: 9
Issue: 5
Pages: 202-207
Publication Date: 2025/05/28
Abstract:
The need for financial literacy has increased due to the proliferation of innovative financial services and products in the financial markets. It is both an art and a science that promotes improved money management by imparting sound financial planning concepts and budgeting techniques, thereby protecting people's financial security. Thus, this article attempts to assess the financial literacy levels of business students of Commerce Colleges in the district Peshawar, using a sample of 200 respondents. The primary data were obtained by collecting information through questionnaires. The association between financial literacy level and socio-economic characteristics is examined using the chi-square test. The study's results show that financial literacy is significantly influenced by socio-economic factors. The research study revealed that students' understanding of fundamental financial concepts is quite low and have difficulty in managing their finances, even they are studying commerce. The respondents' age and educational background have a significant impact on how financially literate they are. To promote financial literacy, a foundational course covering a range of financial ideas ought to be included in the curriculum and made required for all academic programs.