Sadra Medical Journal

Determining the Role of Financial Literacy in the Academic Well-being of Medical Sciences University Students (2023-2024)

Document Type : Original Article

Authors

Asma Ebrahimian 1
Ali Akbar Ajam 2
Seddigeh Davari 2
Hossein Ajam Zibad 3

1 Social Development and Health Promotion Research Center, Gonabad University of Medical Sciences, Gonabad, Iran

2 Department of Educational Sciences, Payame Noor University, Tehran, Iran

3 Department of Aging Health, School of Nursing, Nursing Research Center, Gonabad University of Medical Sciences, Gonabad, Iran

https://doi.org/10.30476/smsj.2025.102796.1540
Abstract
Introduction: Given the significant role of financial literacy and a sense of well-being in students’ successful academic and professional performance, this study aimed to determine the role of financial literacy in the academic well-being of Medical Sciences University students during the 2023-2024 academic year. 
Methods: The descriptive-correlational study was conducted among all students of Gonabad University of Medical Sciences (Gonabad, Iran) in the 2024 academic year. Based on Cochran’s formula, a sample of 330 students was selected via a stratified random sampling method. Data were collected using the Financial Literacy Questionnaire (Moin-al-Din, 2013) and the Academic Well-Being Scale (Pietarinen et al., 2014). The data were analyzed using descriptive statistics (mean, standard deviation) and inferential statistical tests, including Pearson’s correlation coefficient and multiple regression analysis with SPSS software, version 20.
Results: The results showed that the mean total scores for both financial literacy and academic well-being were higher than the cut-off point. A significant positive correlation was found between financial literacy and academic well-being (r=0.230). Furthermore, multiple regression analysis revealed that the income generation and savings components of financial literacy predicted 17.7% of the variance in academic well-being.
Conclusion: Earning, savings, insurance, and retirement could explain academic well-being. Moreover, students’ academic well-being was predicted by the component of financial literacy. These results could help university authorities implement programs that improve students’ financial literacy—covering earning, saving, insurance, and retirement—to enhance their overall well-being.

Keywords

Literacy
Financial Support
Academic Success
Psychological Well-Being
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Sadra Medical Journal
Volume 13, Issue 4
Autumn 2025
Pages 839-849

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