FINANCIAL WELLBEING, FINANCIAL LITERACY AND EXPENSES MANAGEMENT AMONG UNDERGRADUATE STUDENTS

Abstract

Financial wellbeing is achieved when individuals feel content and satisfied with their financial situation. It encompasses several key aspects, including financial knowledge, decision-making ability, and long-term financial security. Undergraduate students are particularly vulnerable to financial instability, often due to limited income and inadequate financial literacy. Recognising this, the objectives of this study are to identify the aspects of financial wellbeing relevant to undergraduate students in managing their finances, and to explore how financial literacy contributes to achieving financial wellbeing among undergraduate students especially fisabilillah educational zakat recipients. This research will adopt a qualitative approach, which is deemed appropriate for gaining in-depth insights into the real-life financial experiences of zakat recipients. Data will be collected through face-to-face interviews conducted until data saturation is reached. Understanding financial wellbeing is essential for all undergraduate students, as mastering this aspect can lead to greater financial satisfaction and overall wellbeing. It is believed that enhancing students’ competencies in financial management can help prevent financial difficulties and promote more stable financial futures.