Effect of financial knowledge on saving behaviour among university students: A case study of school of statistics and planning, College of Business and Management Sciences, Makerere University

Abstract

The study Titled ‘effect of financial knowledge on saving behavior among University students at the School of Statistics and Planning, Makerere University. The study was purposed to investigate into the influence of financial knowledge on saving behavior among University students. The study answered one research objectives namely; to examine the effect of financial knowledge on saving behavior among University students at the School of Statistics and Planning, Makerere University. The study was a cross sectional survey which involved quantitative approaches to gather data from 171 respondents in all, who were students and were selected using simple random sampling. Data was collected using questionnaire. SPSS was used to generate descriptive statistics, where regression analysis and Pearson’s linear co-relation index was used to correlate the study variables.

The study found that the financial knowledge positively influences saving behavior among University students at the School of Statistics and Planning, Makerere University.

The study concluded that there was a positive relationship between financial knowledge and saving behavior among University students, which was viewed through students being sensitized about the importance of savings, students receiving money and planning how it would be used. The study recommends that there is need to impart more financial knowledge to students through sensitizing students about the importance of savings.