Gender differences and financial literacy in institutions of higher learning

Abstract

The purpose of this research is to find the relationship between gender differences and financial literacy of young adults extensively at institutions of higher learning in Uganda. The specific objectives of the research were to find the relationship between gender roles and financial literacy, relationship between gender identities and financial literacy and also the relationship between gender relations and financial literacy .Specifically, the focus of much of the literature has been on university students and their overall financial decision making ability. A concern has arisen that many university students are going through university and then graduating without a sound base of personal financial knowledge to make responsible decisions. A case study was used to measure the personal financial literacy levels (knowledge) of a sample of 50 undergraduate university students. These dimensions, combined with self reported gender differences understanding, were all part of a three by three analysis of dimensions with gender differences as independent variables and financial literacy as the dependent variable. The analysis of variance yielded a positive relationship between gender differences and financial literacy of university students. Analysis of the data did reveal a low financial literacy level of the convenience sample chosen for the study. Therefore it determines financial literacy and it’s very critical in explaining financial literacy. And onconsidering the dimensions of gender differences and financial literacy at institutions of higher learning,there is a great need to improve in the gender identity that is the behavior of women as regard to their financial literacy, management should improve the various roles allocated to gender and change the traditional aspect associated to the women, management should also adopt strategies to empower sole individuals and women