Financial Behavior and Quality of Life of College Students: Implications for College Financial Education

This paper reports preliminary findings from a study on financial behaviors of college students. Objectives of the study are to identify factors associated with financial behaviors and to examine associations between financial behavior and quality of life of the students surveyed. Results of bivariate analyses show that frequencies of performing positive financial behaviors are associated with many factors, such as attitude toward performing the behavior, perceived control, parental influence, peer influence, class standing, etc. In addition, performing desirable financial behaviors is positively associated with financial satisfaction, physical health, mental health, academic performance and satisfaction, and life satisfaction