Abstract:
Financial literacy and financial well-being are crucial aspects of individuals'
economic empowerment and overall quality of life. The study aims to investigate
the impact of financial literacy and its dimensions, namely financial knowledge,
financial behaviour, and financial attitude, on financial well-being among recent
graduates in the Jaffna district. In addition, the study examines whether there is
a difference in financial literacy levels between graduates who have received
personal financial education and those who have not. Stratified sampling was
used to select the sample, and over 200 questionnaires were distributed via
social media, resulting in 125 respondents. Utilizing correlation analysis and
multiple regression analysis with SPSS, the study found a significant positive
relationship between overall financial literacy and financial well-being.
Additionally, financial knowledge, behaviour, and attitude each demonstrated a
significant positive impact on financial well-being. Further, the research
revealed that graduates lacking personal financial education exhibit lower
financial literacy levels than their counterparts with such education. These
findings underscore the importance of integrating personal finance courses into
educational curricula to enhance financial literacy and well-being among
graduates.
