An investigation on the determination of financial literacy level

Abstract

One of the most important goals in the life cycle of the individual is to maintain and improve the current level of prosperity. Every individual independent from the level of existence must make an expenditure in order to meet his/her needs and demands in daily life. People with sufficient monetary power will make their expenditures without any problems and those who do not have the right to sell or borrow their assets. People with more than their income will want to protect the future value of existing assets and to make more profitable and safe investments against unexpected economic and natural risks. An individual needs to have financial literacy knowledge to be able to take these decisions into the finance field effectively and correctly. It is necessary to increase the need for financial literacy in order to compare individuals’ credit card usage alternatives in daily life, to develop preferences among payment methods, to take a lot of financial decisions effectively, from where to invest to what amount to save and where to get the credit in the best conditions (Lusardi, 2008) expressed in the study. In this study, the aim is to measure the financial literacy levels and the variables affecting the level of undergraduate students in different faculties and colleges within Kirklareli University. The data obtained in this study has been compared with the results of the study conducted in different universities, and the financial literacy levels of. © Peter Lang GmbH Internationaler Verlag der Wissenschaften Berlin 2019 All rights reserved.