An Analytical Study on Financial Literacy and Budgeting Behavior among Undergraduate Students

In today's complex economic environment, financial literacy among college students has become essential. Gaps in financial literacy significantly influence youths? financial decisions, while financial anxiety is an increasing socio-economic and psychological concern in higher education. This research focuses on assessing the level of financial literacy of undergraduate students in the Pune region. A structured survey of 150 students from Arts, Science and Commerce stream was taken to study the relationship between financial literacy and budgeting behavior of the students. This was examined through Regression and Correlation analysis where we understood the link between money management, financial literacy and anxiety. Recent research work by different countries and universities has revealed a strong connection between financial literacy and budget management which in turn reduces the level of stress in handling funds. The authors have analyzed the budgeting behavior among college students by finding out the savings and investment habits and the level of financial anxiety. The research also highlights how financial anxiety is significantly related to poor budgeting practices and financial instability. By integrating financial education into the academic curriculum, the survey underlines the need to enhance students? ability to apply financial knowledge in real life situations through experiential learning opportunities.