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Financial Literacy in Nepal: A Survey Analysis from College Students

Author

Listed:
  • Bharat Singh Thapa

    (Central Department of Management, Tribhuvan University, Kirtipur, Kathmandu, Nepal)

  • Surendra Raj Nepal

    (Amrit Campus, Tribhuvan University, Thamel, Kathmandu, Nepal)

Abstract

This study surveys 436 college students to examine their financial literacy; the impact of demographic, educational and personality characteristics on financial literacy. Mean, ANOVA and logistic regression were used in carrying out analysis. Results show that most of the students have basic level of financial knowledge but they lack in understanding of credit, taxes, share market, financial statement and insurance. Students are highly influenced by their parents at home and they have positive attitude towards savings. The study further identified income, age, stream of education, types of college, and attitude of students as determinants of financial knowledge; and financial knowledge is unaffected by gender, university affiliation, financial behavior and influence. It is concluded that college students have basic level of financial knowledge. However, overall financial knowledge of the students is affected by some of their demographic, educational and personality characteristics.

Suggested Citation

  • Bharat Singh Thapa & Surendra Raj Nepal, 2015. "Financial Literacy in Nepal: A Survey Analysis from College Students," NRB Economic Review, Nepal Rastra Bank, Economic Research Department, vol. 27(1), pages 49-74, April.
    • Handle: RePEc:nrb:journl:v:27:y:2015:i:1:p:49
    as

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    References listed on IDEAS

    as
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    5. Tzu-Chin Peng & Suzanne Bartholomae & Jonathan Fox & Garrett Cravener, 2007. "The Impact of Personal Finance Education Delivered in High School and College Courses," Journal of Family and Economic Issues, Springer, vol. 28(2), pages 265-284, June.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Financial Literacy; Financial Behavior; Influence; Financial Attitude; Financial Knowledge; College Students; Nepal;
    All these keywords.

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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