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The Evolution of University Students’ Financial Attitudes and Their Role in the Sustainability of Personal Finances

Author

Listed:
  • Zoltán Zéman

    (Faculty of Economics and Business, John von Neumann University, 6000 Kecskemét, Hungary)

  • Botond Géza Kálmán

    (Institute of Economics, Faculty of Business, Communication and Tourism, Budapest Metropolitan University of Applied Sciences (MET/ÜKT GTI), 1148 Budapest, Hungary)

  • Judit Bárczi

    (Faculty of Economics and Business, John von Neumann University, 6000 Kecskemét, Hungary)

  • László Pataki

    (Faculty of Economics and Business, John von Neumann University, 6000 Kecskemét, Hungary)

Abstract

The purpose of this study is to examine the question of how crises influence the decision-making of Hungarian university students. Crises increase the risk of sustainability, so it is crucial to make appropriate financial decisions in such a situation. For this purpose, the authors conducted a two-stage questionnaire survey among students of economics and other majors. The inquiries took place in 2019 ( n = 1558) and 2020 ( n = 1712). A regression study was used to analyse the evolution of financial attitudes and investment knowledge, as well as how they are affected by a potential crisis modelled with the COVID-19 pandemic. It has been shown that interest in financial matters increases as a result of the crisis and the level of financial knowledge also increases. However, the most important conclusion of the study is that, in the event of a high threat, knowledge and practice can only be combined with calm thinking to help make appropriate financial decisions. All of this together ensures that investment decisions are the basis for the sustainability of personal finances.

Suggested Citation

  • Zoltán Zéman & Botond Géza Kálmán & Judit Bárczi & László Pataki, 2023. "The Evolution of University Students’ Financial Attitudes and Their Role in the Sustainability of Personal Finances," Sustainability, MDPI, vol. 15(8), pages 1-17, April.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:8:p:6385-:d:1118641
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    References listed on IDEAS

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    1. 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.
    2. Beata Swiecka & Eser Yeşildağ & Ercan Özen & Simon Grima, 2020. "Financial Literacy: The Case of Poland," Sustainability, MDPI, vol. 12(2), pages 1-17, January.
    3. Erzsébet Németh & Dániel Béres & Katalin Huzdik & Boglárka Zsótér, 2016. "Financial personality types in Hungary – research methods and results," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 15(2), pages 153-172.
    4. Chen, Haiyang & Volpe, Ronald P., 1998. "An Analysis of Personal Financial Literacy Among College Students," Financial Services Review, Elsevier, vol. 7(2), pages 107-128.
    5. Lynne Borden & Sun-A Lee & Joyce Serido & Dawn Collins, 2008. "Changing College Students’ Financial Knowledge, Attitudes, and Behavior through Seminar Participation," Journal of Family and Economic Issues, Springer, vol. 29(1), pages 23-40, March.
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    1. Oyku Yucel & Gizem Celik & Zafer Yilmaz, 2023. "Sustainable Investment Attitudes Based on Sustainable Finance Literacy and Perceived Environmental Impact," Sustainability, MDPI, vol. 15(22), pages 1-20, November.

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