Evaluating Financial Literacy among Library and Information Science Undergraduates at the National Open University of Nigeria
Year: 2024
Type: article
Abstract: Purpose of the Study: This study investigates the perception of financial literacy among undergraduate library and information science students of the National Open University of Nigeria.Methodology: The study employed a descriptive survey design. The population comprised seven hundred and ninety-five (795) undergraduate students of the Department of Library and Information Science, National Open University of Nigeria, spread across the 109 study centres of the institution. The total enumeration sampling technique was adopted. The instrument for data collection was a structured Google Form questionnaire which was distributed to each student via their emails. Five hundred and sixty-four (564) responses were received. Collected data were analysed with frequency, percentage and mean score and presented in tables.Findings: The results reveal that the respondents perceive their level of financial literacy assatisfactory. Nonetheless, gaps remain in areas such as tax-related knowledge and investment planning. It also reveals that while financial behaviours such as maintaining savings accounts and budgeting are common, debt management practices could improve. Furthermore, a significant majority of students recognise the importance of formal financial literacy education, and express a strong need for comprehensive instruction on financial topics including credit management, investing, and tax planning.Recommendations/Conclusion: The findings underscore the necessity for targeted educational interventions to enhance financial literacy and support effective financial practices among students.Study Type: Empirical study
Institutions: University of Nigeria, National Open University of Nigeria
Language: English
Subfield: Accounting
Domain: Social Sciences
SDG: Quality education
Open Access status: green
OpenAlex ID: W6930557704
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