Financial Knowledge, Attitudes, Behaviors, and Literacy of Business Administration Students in a Private Higher Education Institution

Katrina C. Japona^1, , Josua U. Cabural¹, Jose D. Escalera¹ and Katrina C. Japona¹

¹Business Administration Program, St. Rita’s College of Balingasag, Inc., Misamis Oriental, Philippines

Cite this paper:
Katrina C. Japona, Josua U. Cabural, Jose D. Escalera and Katrina C. Japona. Financial Knowledge, Attitudes, Behaviors, and Literacy of Business Administration Students in a Private Higher Education Institution. American Journal of Educational Research. 2025; 13(10):449-453. doi: 10.12691/education-13-10-1

Abstract

This study assessed the financial knowledge, attitudes, behaviors, and overall literacy of Business Administration students at St. Rita’s College of Balingasag, Inc. A descriptive research design was employed, involving 110 students across year levels who completed a validated questionnaire adapted from Fessler et al. (2020). The instrument assessed students’ knowledge of financial concepts, their attitudes toward saving, spending, borrowing, and investing, as well as their corresponding financial practices. Findings revealed that while most students demonstrated developing financial knowledge, none achieved advanced proficiency, particularly in complex areas such as investments and debt management. Students exhibited strong pro-saving attitudes and confidence in managing personal finances, yet misconceptions about loans and limited familiarity with formal financial systems persisted. In terms of behavior, students consistently practice expense tracking and goal setting, although the majority relied on informal saving methods, such as keeping cash at home. The findings highlight a gap between students’ theoretical knowledge and its practical application. To address this, the study recommends curriculum enhancements and targeted interventions that promote responsible borrowing, strengthen investment literacy, and encourage the adoption of secure financial tools. These results provide a valuable baseline for developing financial literacy programs that aim at equipping students with essential competencies for both personal and professional decision-making.

Keywords:
financial literacy financial knowledge financial attitude financial behavior Business Administration students

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