Understanding the Determinants of Financial Literacy: A quantitative study on students

Financial literacy has proven to be more and more important for everyone, because it is affecting towards their lifestyle and financial well-being. This study aims to find out the relationship between Financial wellness, Financial Satisfaction, and Financial Behavior on Financial Literacy among students in the faculty of economics of private universities in Bandung, Indonesia. Recently, the importance of financial literacy in a complex financial landscape is indeed crucial, but the relationship between Financial wellness, Financial Satisfaction, and Financial Behavior on Financial Literacy among students has not been empirically tested. This research is a quantitative survey using a sample of 316 students from five private universities in Bandung, Indonesia. Data were analyzed using multiple regression. The results showed that Financial wellness, Financial Satisfaction, and Financial Behavior had a positive impact on financial literacy among students. The findings support the results of several previous studies and also brought up some new ideas such as the importance of Financial wellness, Financial Satisfaction, and Financial Behavior. This finding significantly contributes to the advancement of knowledge in student financial literacy. The findings will be useful for practitioners and educational institutions to improve their curriculum and assistance in order for the students to improve their capabilities and skills in managing their finances.