A study on the level of personal financial literacy among undergraduate student in UiTM Kota Bharu / Muhammad Hafizuddin Zainudin and Muhammad Irrsyad Syafiq Samad

The ability to manage the personal finance is become a crucial skills needed by today. Inadequate knowledge about the personal finance since youth may leads to the wrong decision making and unfortunately the bankruptcy rate at the young age will increase rapidly. Therefore, this study attempts to focus on determine the level of awareness among the undergraduate students about personal financial literacy. To be more specific, this research has four purposes. First, this study want to discover the level of personal financial literacy among undergraduate student in UiTM Kota Bharu. Secondly, the researcher want to determine the strength of the association between the independent variables (knowledge, saving, spending, investment, insurance and retirement) towards personal financial literacy. Next, to identify whether there is a significant mean difference on personal financial literacy based on gender and source of finance. Lastly, this study want to investigate whether there is a significant relationship between the independent variables (knowledge, saving, spending, investment, insurance and retirement) towards personal financial literacy. The data were collected from 300 respondents consist of students in Statistic, Islamic Banking, Finance, Economics and Marketing course by using self-administered questionnaire. From the result, it can be concluded that the students’ have a moderate level of personal financial literacy. There only two variables have a strongly positive linear relationship towards personal financial literacy which are knowledge and saving while the other variable have weak positive linear relationship. On the other hand, there is no significant mean difference between gender and financial source towards personal financial literacy. Finally, there’s only knowledge and savings have a significant linear relationship towards the financial literacy.