Digital Financial Literacy and Its Influence on the Management of Finances: A Correlational Study among the Students of Quezon City University

Abstract

Digital financial literacy has become essential as students increasingly use FinTech platforms such as e-wallets, online banking, and digital payment systems in their daily financial activities. This study aimed to determine the level of digital financial literacy and financial management practices among third-year students of Quezon City University and examine their relationship. Using a descriptive-correlational quantitative research design, data were collected from 300 randomly selected students online. Statistical tools such as weighted mean, standard deviation, and Pearson Product-Moment Correlation Coefficient were used to analyse the data. The findings showed that students have a high level of digital financial literacy and financial management practices, particularly in budgeting, saving, and spending. However, information comprehension was found to be higher than information accessibility, indicating a gap in digital access. Results also revealed a significant moderate positive relationship between digital financial literacy and financial management practices, meaning that higher digital literacy is associated with better financial behavior. The study concludes that while students are generally financially capable in digital environments, improving accessibility and digital understanding may further enhance their financial management skills.