Financial literacy: determining factors in management students

Abstract

The present research aims to discern the determinants that influence the level of financial
literacy of university students enrolled in academic programs related to administration and
companies in the Metropolitan Area of Bucaramanga - AMB -, to formulate strategies that
contribute to its strengthening. In the first instance, a review of the literature was made, for
the identification of reference studies and the design of a survey tool. Subsequently, with a
statistically significant sample of students from administrative programs, selected in a
representative way from eight higher education institutions, located in the AMB, the
application of the tool was carried out, divided into four blocks of questions, addressing
sociodemographic variables, parental financial influence, knowledge, and financial
planning. The analysis of the data collected included KMO tests, Bartlett’s sphericity,
descriptive statistics, and media analysis, revealing a reduced level of financial literacy
among students, despite their academic orientation. It highlights the relevance of variables
associated with parental influence and financial behavior, underlining the importance of
integrating these aspects in future training programs and public policies related to
financial literacy.