Analysis of financial literacy levels from behavioral economics perspective: A research on university students

The concept of behavioral economics has been the focus of interest in the world recently. So, researches are conducted related to behavioral economics in many disciplines. Individuals do not exhibit rational behavior because they are under the influence of their thoughts and feelings in their decisions. Another focus of interest is financial literacy. There are many factors in financial literacy such as budget, savings, spending, savings, credit card usage. When people make decisions about these factors, do they behave rationally, like the assumptions of the general economy? This effect is interpreted as a result of the behavioral economics. Demographic information can affect people's behavior in many ways. The environment, monthly household income and education level are effective at certain points in the decisions taken by the individual regarding financial literacy.The more carefully people understand the importance of the concept of behavioral economics, the more they can realize how they make mistakes. In this way, people question themselves and thus make more accurate decisions about financial literacy. The aim of this study is to investigate the effect of behavioral economics on the decisions of university students about financial literacy and to examine whether demographic characteristics such as age, class, department and gender cause differences between the groups. As a result of the study, there is no statistical difference in the answers given to the questions about the financial literacy and behavioral economics scale and budget, depending on age, gender, department, mother, father education level and monthly household income. But, there is a difference in class factor. Factors such as age, gender, department, mother and father education level, monthly household income do not cause any difference in the answers given to the expenditure question. However, there is a difference between class and department factor in the answers to the saving, credit card and access to financial information questions.