Financial behavior analysis of university personnel: Munzur University example

The financial system that is deepened by the financial markets and technological advances which are developing in today's conditions, takes every field of life into the domain of influence. These developments allow the financial instruments, products and services to grow and therefore become more complicated. The changing circumstances make it difficult for individuals to make the right financial decisions. In this framework, it becomes important that individuals are financially literate. Financial awareness and skills need to increase in order for individuals to be able to effectively assess financial risks and opportunities. This is only possible with financial literacy that can be developed through financial training. This study was conducted in order to reveal the financial literacy levels of the academic and administrative personnel of Munzur University. According to the results of the questionnaire which is composed of 235 people, academic personnel has higher financial literacy level than administrative personnel. Variables such as education level, gender, credit card and internet banking usage, and private pension system participation were found to have an effect on the financial literacy level of personnel. Being educated at undergraduate or graduate level, being a male, using credit card and internet banking and participating in the private pension system increases the financial literacy level. Moreover, there was no correlation between income and financial literacy of university personnel. In general, Munzur University personnel is financially literate and yet financial training is still needed.