Financial literacy and spending behavior among tertiary students of UM Panabo College

Abstract

The study aimed to determine the significant relationship between financial literacy and spending behavior among tertiary students of UM Panabo College. In this paper, spending behavior has been used as a dependent, and financial literacy has been used as the independent variable. This study is based on an adapted and modified questionnaire. The random sampling approach was used to collect data from 286 college students of UM Panabo College. The statistical tools used were mean and Pearson-r. The descriptive analytical design has been used to determine the current status of a variable. The study revealed that the level of financial literacy was high and yielded an overall mean of 3.51. In terms of the level of the spending behavior of the tertiary students of UM Panabo College, it also garnered a high result with an overall mean of 3.27. The null hypothesis is rejected since the P-value is less than 0.05 level of significance, indicating that there is a significant relationship between financial literacy and spending behavior.