Do business students in Finland have better financial well-being than non-business students?
Mäki, Max (2022)
2022
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022053113586
https://urn.fi/URN:NBN:fi:amk-2022053113586
Tiivistelmä
This paper research the difference in financial well-being between business and non-business students. It uses previous literature that previously established a strong correlation between good financial literacy and good financial well-being. More recent research highlights the importance of other aspects of one’s life apart from financial literacy that might have a greater importance for financial well-being. Therefore, this paper uses a survey to highlight the differences between these groups.
The survey got 63 responses. The results from these were inconclusive, there were no clear differences between the two groups. That being said, the data suggested, with a p-value of 0.225, that business students in reality have worse financial well-being than non-business students. These findings go against previous research that hails the importance of financial literacy, which business student scored slightly higher on. To get better results, a more holistic research, were students all over Finland participates, must be conducted. This paper was also limited by using two different scales in its survey, that was compensated for after the fact. A 1-4 scale was multiplied by 10/4 to match the 1-10 scale. This skewed the data to show overall worse financial well-being.
The survey got 63 responses. The results from these were inconclusive, there were no clear differences between the two groups. That being said, the data suggested, with a p-value of 0.225, that business students in reality have worse financial well-being than non-business students. These findings go against previous research that hails the importance of financial literacy, which business student scored slightly higher on. To get better results, a more holistic research, were students all over Finland participates, must be conducted. This paper was also limited by using two different scales in its survey, that was compensated for after the fact. A 1-4 scale was multiplied by 10/4 to match the 1-10 scale. This skewed the data to show overall worse financial well-being.