Responsible financial behavior: Similarities and differences between youth in Türkiye and Lithuania

Abstract

This research compares the financial behaviors of university students in Lithuania and Turkiye, focusing on each financial behavior individually. The study also examines how gender and income levels affect responsible financial behaviors. The results indicate that Lithuanian students demonstrate more responsible financial behaviors than their Turkish counterparts. Gender does not appear to significantly impact responsible financial behaviors for students in either country; however, a correlation exists between higher income levels and responsible financial behaviors. While Turkish students show more responsible behaviors in terms of budget planning, Lithuanian students excel in responsible savings behavior. Furthermore, Lithuanian students tend to have a more optimistic outlook on their financial futures, whereas Turkish students have lower expectations compared to Lithuanian students. These findings provide valuable insights for educational authorities seeking to improve students' financial knowledge andpromote responsible financial behaviors. The results suggest that tailored financial education programs could be developed based on this research.