IIARD International Institute of Academic Research and Development

JOURNAL OF ACCOUNTING AND FINANCIAL MANAGEENT (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 11 NO. 6 2025
DOI: 10.56201/jafm.vol.11.no6.2025.pg31.46

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Financial Literacy and Investment Decisions of Public University Students in Bayelsa State: The Role of Debt Management and Savings Literacy

Festus Emeke OGWU, and Confidence Joel IHENYEN PhD

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Abstract

The study investigated the relationship between financial literacy and investment decisions of students in Bayelsa State, focusing on trainee accountants from three universities: Niger Delta University (NDU), Federal University Otuoke (FUO), and University of Africa (UAT). Specifically, it examined the relationship between debt management, savings literacy, and investment decisions. A cross-sectional survey design was employed, with a population of 1,473 trainee accountants. A sample of 315 students was determined using Taro Yamane’s formula, and Bowley’s statistics was used to determine the proportional representation of each institution. A simple random sampling technique was employed to select respondents. Data were collected through structured questionnaires and analyzed with the aid of SPSS version 23. Descriptive statistics and Spearman’s rank correlation coefficient explored the relationships between financial literacy dimensions and investment decisions. The findings revealed positive and significant relationships between financial literacy dimensions: debt management and savings literacy, and investment decisions. The study concludes that there is a positive and significant relationship between financial literacy and investment decisions of student in Bayelsa State. Based on the findings, the study recommends that educational institutions organize workshops and courses on debt management, covering topics like interest rates and repayment strategies, and incorporate savings literacy into the curriculum through practical lessons on building emergency funds, understanding saving techniques, and financial planning to enhance students' investment decision-making skills.

keywords:

Financial Literacy, Debt Management, Savings Literacy, Investment Decisions,

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