Impact of Financial Literacy and Parental Socialization on the Saving Behavior of University Level Students

  • Junaid Afsar Department of Business Administration, University of Kotli Azad Jammu & Kashmir Pakistan
  • Ghulam Mujtaba Chaudhary Department of Business Administration, University of Kotli Azad Jammu & Kashmir Pakistan
  • Zafar Iqbal Department of Business Administration, University of Kotli Azad Jammu & Kashmir Pakistan
  • Muhammad Aamir Department of Commerce, Bahauddin Zakariya University, Multan Pakistan
Keywords: Financial Literacy, Parental Socialization, Saving Behavior


This is an explanatory study on the impact of financial literacy and parental socialization on the saving behavior of university level students. Using primary data collection method, 400 questionnaires were distributed to the students of universities across Pakistan. Pearson correlation and multiple regression analysis are employed by using SPSS. Our results demonstrate that financial literacy and parental socialization positively influence the saving behavior of students. Our result revealed that the students who have financial literacy exhibit more saving behavior as compared to others who do not have financial knowledge. It is also concluded that the student willingness to save increased due to receiving financial education from their parents.


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How to Cite
Afsar, J., Chaudhary, G. M., Iqbal, Z., & Aamir, M. (2018). Impact of Financial Literacy and Parental Socialization on the Saving Behavior of University Level Students. Journal of Accounting and Finance in Emerging Economies, 4(2), 133-140.