Financial Behaviour and Financial Literacy among University Students

Kutlu Ergün


The aim of this study is to determine the relationship between the financial knowledge and
financial behaviour of university students across the following 5 European countries: Czech
Republic, Estonia, France, Spain and Turkey. An online survey instrument was used for the
study and the sample consisted of 418 university students. Data analysis was performed by
using logistic regression. The study found that male students, those who have financial
difficulties in sustaining their educational expenses and those who have loans or any other
debts were more knowledgeable on personal finance. Students who do not have any credit
card were also found to be more financially knowledgeable. Among the countries, students
from France were found to be more knowledgeable on personal finance. Based on the
findings, the article contributes to existing literature concerning the need to provide effective
actions for the responsible use of credit cards in order to maximise the financial literacy of
university students. Using debit cards instead of credit cards may be useful for better
financial behaviour. This research may provide useful data for policy makers and card
providers in devising the effective use of credit cards. The result of this research may inform
university authorities in encouraging the teaching of financial knowledge among university

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