Impact iof ifinancial iliteracy ion ifinancial ibehaviour iof iuniversity iof ICape iCoast i(ucc) istudents

Abstract

The imain ithrust iof ithe istudy iwas ito iexamine ithe iimpact iof ia imastery iof ia iset iof iknowledge, iattitude iand ibahaviour iof iUCC istudents. i iThe iresearch iwas iconceptually iframed iby ithree iresearch iquestions iand ithree ihypotheses. iDescriptive isurvey idesign iinvolving ithe iquantitative iapproach iwas iused iin ithe istudy. iThe itarget ipopulation iof ithe istudy iwas iall iUCC istudents. iA isample isize iof i382 istudents iwas ichosen ifor ithe istudy iusing iKrejcie iand iMorgan i(1970) isampling itable iof idetermination. iSome iJumpstart i(2013) iand iother inotable iliterature iquestionnaire iadapted ion ifinancial iknowledge, ifinancial iattitudes, iand ifinancial ibehaviour, iwhich iaffect ifinancial iliteracy iwas iused ifor ithe idata icollection. iPre-testing iof ithe iinstrument iwas idone iand ireliability iand ivalidity iwere iensured. iThe idata icollected iwas ianalysed iusing idescriptive istatistics i(frequencies iand ipercentages, ivariances) iand istatistical iinference i(Chi-square, iχ2 icorrelational iregression ibetween ione-way iANOVA). iThe istudy irevealed ithat ithe ifinancial iliteracy ilevels i(knowledge) iof iUCC istudents iare igenerally ifair. iThe iresults ifrom ithe istudy ifurther iindicated ithat idemographic icharacteristic iof ithe istudents iimparts iupon itheir imastery iof ia iset iof ifinancial ialertness. iThe iresults iof istatistical ievidence ito ithe ieffect ithat ifinancial iliteracy iof iUCC istudents ido inot idiffer iin iterms iof ithe istudents’ iages. iTherefore, ithe inull ihypothesis istated ias i“There iwill ibe ino istatistically isignificant idifference iamong ithe iage igroups iof irespondents iwith irespect ito ithe ifinancial iliteracy iof iUCC iStudents”