Financial Literacy: A Comparative Study Among Undergraduate Students at IPB University and Universiti Putra Malaysia

Abstract

Lack of financial literacy is becoming an issue for both developing and developed countries. Indonesia and Malaysia government have launched a strategy to struggle with a low level of financial literacy. The college student is one of the main targets of the strategies. The purposes of this research are to (1) analyze the level of financial literacy and (2) analyze the factors influencing financial literacy among undergraduate students. The subjects of this research are students at IPB University and Universiti Putra Malaysia. The analytical methods used in this research are descriptive analysis and multiple linear regression. The result of this research indicates that the level of financial literacy of students at IPB University is higher than Universiti Putra Malaysia. Both are included in the category of sufficiently literate. Factors that influence the financial literacy of students at IPB University are gender, semester level, and level of income. Meanwhile, the factors that influence the financial literacy of students at Universiti Putra Malaysia are semester level and level of income.