Title

FINANCIAL EDUCATION AND FINANCIAL SOCIALIZATION : ITS INFLUENCE ON COLLEGE STUDENTS' FINANCIAL PLANNING SKILLS

Author(s)

Duman-ag, Jan Alen L.

Acas, Josh P.

Ajo, Jusua S.

Affiliation

Misamis University

Degree Program

Bachelor of Science In Business Administration

Contributor

Reyes, Imelda O. – Adviser

Elmedulan, Arniel Jr. M. – Panel

Lahoylahoy, Mary Mar B. – Panel

Carpio, Renzitelo Alf P. – Instructor

Year

2025

Abstract

Financial planning is the process of managing personal finances to achieve economic stability and long-term financial well-being. This study examined the predictive influence of financial education and financial socialization on college students' financial planning skills. This study utilized a descriptive-correlational research design. The data were collected through stratified random sampling from 149 first-year students enrolled in finance and business-related programs in Ozamiz City. The Financial Education, Financial Socialization, and Financial Planning Skills Questionnaires were used as instruments for data collection. Mean and Standard Deviation, Pearson Product-Moment Correlation Coefficient, and Simple Linear Regression Analysis were utilized in data analysts The study revealed that students possessed a very high level of financial education, high levels of financial socialization and financial planning skills. Financial education and students' financial planning skills postulates a significant positive relationship as well as financial socialization and financial planning skills. Meanwhile, financial decision-making and parental financial influence served as the best predictors of financial planning skills. The findings revealed that structured formal education and informal familial socialization processes equipped students with essential financial capabilities. It is recommended that future researchers employ in-depth qualitative methods and longitudinal studies to examine interpersonal financial socialization and the development of planning skills in early professional careers

Keywords

financial decision-making. financial education, financial planning skills, financial socialization, parental financial socialization