Analysis shows that mastery experience and physiological state impact financial literacy in students, suggesting new teaching methods.
The aim of this study was to establish the relationship between components of individual financial self-efficacy and their impact on the financial literacy of third-year government-sponsored university students in Uganda. Data was collected from 398 students drawn from four universities. The data was analysed using Partial-Least-Squares. Mastery experience and physiological state were found to be the strongest predictors of financial literacy among the students. The combined effect of mastery experience, vicarious experience, and physiological state explained 60.2 percent of the variance in the students’ financial literacy. However, there was no significant relationship between verbal persuasion and financial literacy.
No takes yet. Share an insight, caveat, or question.
Namutamba et al. (2025) studied this question.
Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context: