ABSTRACT
The study aimed to examine the financial literacy of undergraduate students and its impact on spending and saving behavior; a case study of the University of Dodoma.
Data were collected from sample size of 120 respondents consisting of 105 students and 15 key informants (staff). The study employed questionnaire survey and interview as methods of data collection. Quantitative data were analyzed using MS Excel software supported by Statistical Package for Social Science (SPSS) version 16. Quantitative data were analyzed through the use of strong explanation building, comparison of data and integrations.
The study revealed that undergraduate students were aware of basic financial issues like budgeting, wise spending and saving but they were much affected by environmental factors like higher living standards, poverty and peer influence. The study also found that, the saving rate of students was low just to fulfill immediate future needs.
The government should revise the loan policies to encompass students from poor families instead of focusing on priority courses like education, health sciences and agriculture. The university management in collaboration with financial stakeholders should establish a special financial literacy program for all undergraduate students, also guidance and counseling units should be established.
From the study it can be concluded that, still financial literacy education is needed to solve financial problems among university students. Absence of financial problems keeps students stress free and improves their academic performance.
F.Kimario, A (2021). Financial Literacy Of Undergraduate Students And Its Impact On Spending And Saving Behavior: A Case Study Of The University Of Dodoma. Afribary. Retrieved from https://afribary.com/works/financial-literacy-of-undergraduate-students-and-its-impact-on-spending-and-saving-behavior-a-case-study-of-the-university-of-dodoma
F.Kimario, Adela "Financial Literacy Of Undergraduate Students And Its Impact On Spending And Saving Behavior: A Case Study Of The University Of Dodoma" Afribary. Afribary, 26 Apr. 2021, https://afribary.com/works/financial-literacy-of-undergraduate-students-and-its-impact-on-spending-and-saving-behavior-a-case-study-of-the-university-of-dodoma. Accessed 28 Nov. 2024.
F.Kimario, Adela . "Financial Literacy Of Undergraduate Students And Its Impact On Spending And Saving Behavior: A Case Study Of The University Of Dodoma". Afribary, Afribary, 26 Apr. 2021. Web. 28 Nov. 2024. < https://afribary.com/works/financial-literacy-of-undergraduate-students-and-its-impact-on-spending-and-saving-behavior-a-case-study-of-the-university-of-dodoma >.
F.Kimario, Adela . "Financial Literacy Of Undergraduate Students And Its Impact On Spending And Saving Behavior: A Case Study Of The University Of Dodoma" Afribary (2021). Accessed November 28, 2024. https://afribary.com/works/financial-literacy-of-undergraduate-students-and-its-impact-on-spending-and-saving-behavior-a-case-study-of-the-university-of-dodoma