Abstract:
This study investigated the levels of financial literacy among undergraduate students at the
University of Zambia. It sought to investigate and answer questions based on the research that
were to determine the levels of financial knowledge among final year students, to find out factors
that influence student’s financial behavior and to assess challenges affecting final year students
financial well-being. The data was collected by issuing questionnaires to undergraduates. It looked
at the levels of knowledge of financial literacy among final year students. SPSS version 27 was
used to analyze the data. The results indicated about the levels of financial literacy among
University of Zambia final year students shows that they were familiar with the financial literacy.
These levels of financial literacy were somewhat high because there were more students who were
knowledgeable about financial literacy than those who did not know about it. The areas included
are general personal financial knowledge, knowledge of savings and borrowing and investments,
and exposure to financial issues. In terms of personal financial management practices there was
no significant difference between genders in terms of holding an account across all types of
accounts and in terms of investments. The conclusion therefore is that the majority of students do
have knowledge of financial literacy, however, they lack the skills required to put their knowledge
into practice in order to improve their financial well-being. The results are not very generalizable
to the wider population of university students. In order to achieve such generalization, a study
should be conducted using a larger sample and taking on all university students in the country.
