Determinants of financial literacy: evidence from students in Hanoi

Abstract

This study examines the factors affecting the financial literacy of students in Hanoi city. The research used 348 observations of students from universities across Hanoi city during March 2021, the results from the multiple regression model showed that the majors, genders, and number of years in college education had a strong impact on student’s financial literacy scores. The study shows that the financial literacy score of students majoring in economics or students attending short training course during university time are higher than that of other students. Then, they would have good expenditure plan as well as avoid from other social evils. The female students have higher financial literacy score than male students. The more years students spend on college education, the higher their score are.