Abstract

This paper explores the determinants of university working-students’ financial literacy. It further seeks to
establish the relationship between financial literacy and certain demographic characteristics. This study adopted
a correlational research design as the framework to examine the relationship between variables without
determining cause and effect. Data were randomly collected from 250 undergraduate and postgraduate students
of a public university in Ghana. The paper found that age and work experience were positively related to
financial literacy. Also, mother’s education was positively correlated with respondents’ financial literacy.
However, level of study, work location, father’s education, access to media and the source of education on
money were all not significantly correlated with financial literacy. A key recommendation is that given the
positive correlation between mother’s education and financial literacy, parents should be actively involved in
designing educational programs on financial issues at the basic and high school levels for their kids. It is
believed that such a step forward will help parents to guard and guide their children’s financial behaviours.

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