Exploratory Study on Financial Literacy among Entrepreneurial University Students on the Caribbean Coast of Colombia

Abstract

This research is based on an exploratory study that addresses the importance of financial literacy among entrepreneurial students at four universities on the Caribbean coast of Colombia. The objective of this study was to evaluate the level of knowledge and ability to apply financial concepts in the context of their entrepreneurial ventures. The methodology used was a non-experimental, cross-sectional quantitative approach, applied to a convenience sample of 77 entrepreneurial students using a validated questionnaire. The results showed that most participants have an intermediate level of financial literacy, revealing a significant gap between theoretical knowledge and the practical application of financial concepts. Sociodemographic factors that influence financial literacy levels were also identified, such as gender, age, and educational attainment, reflecting how these factors influence access to financial education resources. The research concludes that it is necessary to implement more practice-oriented educational programs that focus on topics such as savings planning and debt management in order to strengthen entrepreneurs' ability to manage their resources efficiently, make informed decisions, and thus contribute to the economic development of their communities.