Enhancing Financial Management Behaviour through Knowledge, Attitudes, and Locus of Control: Insights for the Digital Age

Abstract

This study intends to find out how financial management behaviour impacts Higher Education Institution’s (HEI’s) students in India. In this study, the research how financial management is influenced by financial knowledge (FK), financial attitudes (FA), and locus of control (LOC). The primary data for this study was collected using questions that were distributed directly and indirectly, such as through social media. The sampling of the initial study consisted of one hundred and two respondents, who were chosen at random using the sampling technique through the google form-filling method. The results of this study demonstrate that financial behaviour is highly influenced by Financial Knowledge (FK), Financial Attitude (FA) and Locus of Control (LOC). But while managing their finances, everyone must decide whether they want to spend money or save money.  In general, one of the key criteria in establishing an individual's economic well-being is their ability to manage their finances. The data was analysed using the statistical tool of Anova, Correlation, Normality, Reliability Test, Normality Test to test the relationship between the variables.