Financial Behaviors and Financial Well-Being of College Students: Evidence from a National Survey

Gutter M., ÇOPUR Z.

JOURNAL OF FAMILY AND ECONOMIC ISSUES, vol.32, no.4, pp.699-714, 2011 (ESCI) identifier identifier


The purpose of this study is to explore the relationship between financial behaviors and financial wellbeing of college students when controlling demographic and financial characteristics, financial education and financial dispositions. Data (N = 15,797) was collected from college students age 18 and over via an online survey from 15 college campuses throughout the United States during spring and fall of 2008. Results of means comparisons showed significant differences on the financial well-being level by various socioeconomic factors and financial behaviors. In addition, regression analysis showed that budgeting, saving, risky credit card behaviors, and compulsive buying were significantly related to financial well-being when controlling for demographic information, financial characteristics, financial education, and financial dispositions.