University Students’ Referral to Industrial Training and its Impact on Financial Literacy

Financial literacy is very important for individuals to make financial decisions related to daily life therefore, it is important to study the change in financial literacy with the growth of individual’s knowledge. By dint of individuals of a country making the right financial decisions has a positive effect on its economic growth process. Accordingly, the primary objective of this research was to study whether or not there is a difference in the financial literacy of the students who were directed to the industrial training given to the university students who study in fourth year and the students of the second and third years. As a sample, 50 fourth year students, 50 second year students, and 50 third year students, were selected through stratified sampling. Both primary data and secondary data were used for this study and questionnaire was used to collect primary data. A one-way ANOVA was conducted to analyze the data collected and the results showed that there was a difference in the financial literacy of students who had gone to industrial training compared to the level of financial literacy of second and third year students. Consider the second and third year students, it could be recognized that there is no significant difference in the financial literacy of the students in those two years. Therefore, according to this research, it is clear that the students’ financial literacy has increased through the experience and knowledge they get through the industrial training.