Determinants of Financial Literacy among Mexican University Students

Abstract

Financial literacy enables effective decision-making across contexts and improves individuals’ and society’s financial well-being, facilitating their participation in economic life. This research aims to analyze the relationship between financial literacy and socio-economic, demographic, educational and family determinants among university students in Mexico. Data were collected from 1,355 students at three universities in different Mexican states, using non-probabilistic, self-determined sampling. The analysis method is based on constructing multiple linear regression models to estimate financial literacy and its three dimensions: knowledge, behavior and attitude. The results show that gender, type of institution, field of knowledge, work experience, and the mother’s educational level are significantly related to university students’ financial literacy level. This research contributes to the regional comparative literature by analyzing university students from different socio-economic regions in Mexico, generating evidence that can inform the design and implementation of public policies to strengthen financial literacy at the local level.