There were a total of 8 variables i.e. six were dependent (perception of affordability, setting financial goals, spending behavior, spending lifestyle, personal finance, risk appetite) and two were independent (gender, student status). 2.The study found out that perception of affordability and long term financial goals were different amongst male and female college students.3.It was seen that spending behavior, spending lifestyle, personal finance, risk appetite had no relationship with gender i.e. it was seen that these factors were indifferent amongst male and female college students. 4.The study also found out that perception of affordability, setting financial goals, personal finance, and risk appetite had no association with the nationality of the college student. 5.It was seen that spending behavior and spending lifestyle were different amongst national and international students.
FINANCIAL LITERACY34According to the study of Dwiastanti(2015) if the individual has a good financial literacy, then he/she will be smarter in managing finances to achieve prosperity. However,in our study we found that individuals who had good financial literacy were not necessarily prosperous i.e. they were not necessarily rich. This might be due to lack of capital, or lack of decisions made. It was seen that students of different gender would spend differently and would have different amount of savings. This might be due to the differences of the products used by men and women; the differences in their spending behavior; and the differences in their spending attitude. Also, it was seen that the national and international students would spend and react differently to different products. Cultural differences might have played some role in the differences of choices taken by international and national students. Therefore, this research would be helpful for not only students but might also be helpful for financial sector regulators and educators for their future findings and for developing their policies in financial literacy.Bibliography
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