Is financial literacy among college students low?
Findings-The paper reveals that financial literacy among college students appears to be low. The results suggest that college student"s gender, education level and majors have a significant impact on the financial literacy level. Research limitations/implications-The main limitation of the empirical study is the small size of the sample.
What are the statistics for the financial literacy measures?
The PCS statistics for the financial literacy measures are presented in Table 3. The mean PCS across all students on the compound interest/inflation section, referred to as basic financial literacy in the literature, was 44.5%. The mean PCS for the investing section, referred to as sophisticated financial literacy in the literature, was 44%.
What is the level of financial literacy among Indian High School students?
The above results highlighted the low levels of financial literacy among high school students in India and demonstrated the need for increasing the financial knowledge of students. The overall financial literacy (44%) was quite low when compared to other developed countries and some developing countries.