Financial Knowledge of Students in Open Distance Learning Institution in South Africa
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Proficient financial knowledge and judicious decision-making are crucial in the financial decision-making process. This study examined the financial literacy of students enrolled in a higher certificate programme at the College of Economic and Management Sciences (CEMS) at the University of South Africa (UNISA), an open distance learning (ODEL) institution in South Africa. The article employed a quantitative research methodology via an online questionnaire for data collection. The findings demonstrated a significant degree of financial literacy among students in open distance learning schools in South Africa. This study uniquely contributes to the existing knowledge by elucidating the extent of financial literacy among students. This study advocates for students in ODEL institutions to actively apply their financial knowledge, enhance their financial management skills, and make prudent financial decisions. Finally, the study offered recommendations and proposals for subsequent research.
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