Yau, Kwan Pang and Lackovic, Natasa (2026) The Impact of a Financial Education Program on Financial Literacy among Tertiary Students in Hong Kong. PhD thesis, Lancaster University.
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Abstract
This study investigated the impact of a financial education program on the financial literacy of tertiary students in Hong Kong. The study found significant improvements in tertiary students' financial literacy, operationalised in this study as financial knowledge, attitudes, and behaviours, after participating in the financial education program. The research findings indicated that demographic factors such as age, gender, job status, and monthly income had no significant effect. However, education level showed a significant interaction effect with time, and study major was also found to influence the program's effectiveness significantly. The impact of various program outputs on financial literacy was also investigated. Lecturers, study notes, case study videos, the mobile app, the exercise, webpages, and the overall program were found to have significant effects on tertiary students' financial literacy. Qualitative analysis of in-depth interviews identified four key themes: the importance of financial literacy, ways and barriers to accessing financial education, student learning experiences through the program, and the program's impact on financial literacy. The findings confirmed the positive impact of financial education programs on financial literacy and provided insights into the role of demographic characteristics and program outputs in shaping the outcomes of these programs. These results may inform the design and refinement of financial education programs to enhance the financial literacy of tertiary students effectively.