22 Feb 2017
Financial Literacy plays very vital role in the development and resource management of any economy. The focal point of the study is to extent the financial management practices with in the university students on the basis of their socio-demographic factors. Financial management practices or financial knowledge has impact on consumer policy that contributes to economic development based on family, peer and demographic factors. The term financial literacy is under
practices or financial knowledge has impact on consumer policy that contributes to economic development on the basis of socio-demographic factors. The term financial literacy is under discussion by not only the financial institutions and professional bodies but also by student communities in order to have the sense of saving for better future. The financial knowledge gives insights to common people to save and make rational financial decisions in communities at large.
Most of the researches have been undertaken on the usage of credit cards by students but no measures by authorities have been taken in order to promote this idea in case of Pakistan. In this study, the practical issues are the university students are not that much aware about the importance and pros-cons of savings, investments and other financial products like interest, risk, inflation etc. This research will provide insights by extending the impact of socio-demographics on the financial management practices by university students.