Level of Financial Literacy in Young Entrepreneurs: Study on Entrepreneurship-based University

Abstract

This study is aimed to examine the level of financial literacy among young entrepreneurs. Young entrepreneurs in this study are active college students who take entrepreneurship education so that they have a real business besides their role as students. The novelty of this research lies in the research respondents, the aforementioned young entrepreneurs. The research method used was comparative descriptive, which includes investigating the level of financial literacy and then analyzing the difference in the level of financial literacy between male and female entrepreneurs. A survey method was used in this study. The level of financial literacy uses the concept by Chen & Volpe (1998), while the difference test uses the Mann–Whitney test. The results show that the level of young entrepreneurial literacy is in the moderate category. Of the four aspects studied, the highest aspect of financial literacy is the Insurance aspect, while the lowest is the investment aspect. The next result is that there is no difference in the level of financial literacy between young male and female entrepreneurs.