Factors Affecting Public University Students' Financial Behaviour: Debt Management And Needs For Financial Education

Abstract

This study examines the factors affecting financial behaviour among public university students in Malaysia, focusing on two main objectives: identifying the relationship between spending attitudes, family income, financial socialization, financial literacy, and electronic money usage on financial behaviour and analyzing how family income levels (B40, M40, T20) influence financial behaviour. Data from 409 students were analyzed using multiple linear regression. The findings reveal that spending attitudes, financial literacy, and financial socialization have a significant impact on improving financial behaviour. Family income and electronic money usage also have positive effects. Analysis of income levels reveals that students from lower-income levels (B40) tend to exhibit slightly better financial behaviour compared to middle-income levels (M40) and higher-income levels (T20) groups, with T20 students showing weaker financial behaviour. These findings highlight the importance of financial education programs that promote responsible spending habits, improve financial literacy, and encourage financial discussions, especially for students across different income levels.