Investigation reveals economic, social, and psychological factors drive money management in students, suggesting enhanced educational programs could aid financial decision-making.
Key Points
Money management behavior among university students is influenced by economic, social, and psychological factors.
Statistical analysis shows social factors have the strongest impact on money management (p-value = 0.000).
Financial literacy does not have a statistically significant effect on students' money management behavior.
The findings suggest that universities should implement comprehensive financial education programs to improve students' financial decision-making.