Analyzing Financial Behavior in Undergraduate Students in Economics, Administration and Accounting Sciences

Isabel Mendoza-Ávila, Alejandro Vega-Muñoz (), Guido Salazar-Sepúlveda, Nicolás Contreras-Barraza and Dante Castillo ()
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Isabel Mendoza-Ávila: Facultad de Ciencias Económicas, Administrativas y Contables, Universidad Nacional Autónoma de Honduras, Tegucigalpa 11101, Honduras
Alejandro Vega-Muñoz: Centro de Investigación en Educación de Calidad para la Equidad, Universidad Central de Chile, Santiago 8330601, Chile
Guido Salazar-Sepúlveda: Facultad de Ingeniería, Universidad Católica de la Santísima Concepción, Concepción 4090541, Chile
Nicolás Contreras-Barraza: Facultad de Ciencias Económicas y Administrativas, Pontificia Universidad Católica de Valparaíso, Valparaíso 2340025, Chile
Dante Castillo: Facultad de Humanidades, Universidad de Santiago de Chile, Santiago 9170022, Chile

JRFM, 2025, vol. 18, issue 10, 1-21

Abstract: This study examines the financial behavior of university students in Economics, Business Administration, and Accounting in Tegucigalpa, Honduras, using the FB–13 instrument. Exploratory and confirmatory factor analyses validate a three-dimensional structure: (1) financial planning and control, (2) savings and financial preparation, and (3) fulfillment of obligations, with high internal consistency (α = 0.915), supporting its psychometric robustness in Latin American academic contexts. Based on a sample of 714 students with diversity in gender, age, work experience, and parental status, the analyses confirmed that the FB–13 model best fits a three-factor structure. Significant correlations were identified between financial behavior and experiential variables such as age, work experience, and parenthood, while traditional sociodemographic attributes such as gender, residence, marital status, employment, and educational level showed limited associations. These findings suggest that personal experiences have a greater influence on the configuration of financial practices than conventional demographic categories. The study acknowledges limitations related to cross-sectional design, non-probabilistic sampling, and self-reported data, yet these do not diminish its contributions. By validating the FB–13 in Honduras, the research offers comparative evidence and promotes cultural diversity in financial behavior literature. Future research should move toward longitudinal and qualitative studies that explore the role of family dynamics, work contexts, and personal aspirations in responsible financial behaviors.

Keywords: financial behavior; saving behavior; financial planning; budgeting; psychometric validation; work experience; parenthood; higher education; university students; Latin America (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2025
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