FINANCIAL LITERACY AMONG CSU STUDENTS

Financial Literacy is the upshot of responsiveness, profound knowledge, skill, attitude and behavior associated with money, credit and banking necessary to make exceptional financial decisions. Promoting financial literacy is indispensable to realize immense financial inclusion and enhance Economic Development. College students are the ideal recipients of financial literacy programs for the reason that many college students need this as a significant factor in their savings, credit and investment decisions and they will enter the workforce upon graduation. They will be accountable for managing their salary, investment options and retirement accounts. They will embark on making decisions that can impact their financial well-being will allow them to make more responsible financial decisions later on and mature into financially literate and independent adults. While the prior researches has afforded evidence of people's personal finance knowledge and improved our understanding of the issue, many studies cover selected areas in personal finances, neglecting others. These limitations are compounded by the fact that many prior studies only report the levels of financial literacy without analyzing the significance that influence people's knowledge. None of the previous studies have examined the financial literacy among college students, especially in Catanduanes. This crucial aspect is the gap which was bridged by the present study. This study determined the financial literacy programs needed by CSU students. I collected primary data from the information provided by One Hundred Ninety Nine third year students respondents who participated in the in-depth face-to-face interview, a stratified random sampling was rationally chosen for the research. The financial literacy programs needed by CSU students are (a) personal finance, (b) budgeting, (c) bookkeeping, (d) savings, (e) investment, (f) credit management, and (g) pension planning. From the interview of the respondents, on the financial literacy programs. It was found out that majority of those knowledgeable in personal finance are students in BS Accountancy, followed by BS Accounting Technology, BSBA-fm, BSBA-marketing, BSBA-human resource development management, BS entrepreneurship, and BS office administration. Students from other colleges of the csu are not skilled nor knowledgeable in financial matters. The outcome that business majors are more knowledgeable in financial literacy programs is consistent with findings of previous researches. The research paper advocates Higher educational institutions inclusion in their curriculum of non-business courses, subjects on financial literacy and an action plan to enhance and develop the students sound financial decisions. A research on financial literacy in other universities must be conducted to replicate this study and may use other variables.