Volume 11, Number 1, June 2016
| A Discussion of College Students’ Financial Planning Awareness and Financial Planning Ability: A Case Study of a University in Taiwan |
Abstract
In general, people think that money management or financial planning is the work of an adult or a rich person. As a result, opportunities for young people to learn and develop financial management are often neglected. In fact, financial management should be performed in everyday life, in particular, when faced with an aging society, young people in Taiwan are more in need of early financial planning. It is important to cultivate college students’ concepts of financial planning and management; however, studies relating to college students’ financial management are relatively rare in Taiwan. Therefore, this study aims to develop an appropriate scale to assess Taiwanese college students’ financial planning awareness and financial planning ability, and understand their financial planning awareness and current financial planning ability. The factors affecting the financial planning awareness and financial planning abilities of college students under different personal attributes were explored. A questionnaire survey was conducted to investigate students in a Taiwanese university regarding their financial planning awareness and current planning ability. The differences in financial planning awareness and financial planning ability, as caused by different personal attribute variables, were analyzed.
Keywords: Financial Planning Awareness, Financial Planning, College Students
JEL Classification: C91, E20, M50