Financial literacy contributes to consumer wellbeing and helps mitigate the effects
of financial and other crises. Previous studies have shown that young adults have
measurable financial knowledge in almost all examined dimensions, but this knowledge
is incomplete and students may not be able to apply it in practice. We conducted a
questionnaire survey, in which we tried to map the factors that shape and influence
financial attitudes and behavior of first-year students studying business and economics
at the University of Pannonia. Our analysis shows that parental influence dominates
students' financial decisions and there is a statistically significant difference
between the financial knowledge of those who seek parental guidance and those who
do not. Our research is the first part of a larger, international survey, in the framework
of which we would like to conduct a similar survey in
designated higher education institutions of the countries neighboring Hungary.
