By: Ogbuagu Anuli Regina, Akidi Victor, Ohalete Precious Ifeanyi, Oladosu Isaac Olubiyi
Pages: 475–497, Volume: 3, Number: 1
Published by: AEFUNAI Journal of Economics, Finance and Development Studies, Alex Ekwueme Federal University, Ndufu-Alike, 2/1/2026, 2026
ISSN (Electronic): 2536-6742
DOI:
Impact of Family Income on Financial Attitude, and Relative Consumption
Abstract:
This study examines the impact of family income on the financial attitudes and relative consumption patterns of undergraduate students in Southeast and South-South Nigeria. The primary objective is to compare how family income influences financial attitudes and consumption behavior among low-income and high-income students. Using stratified and simple random sampling techniques, data were collected from 646 respondents drawn from 5 federal universities. The findings show that students from high-income families tend to have more positive financial attitudes and higher relative consumption levels, whereas students from low-income families display more risk-averse behavior. The study suggests that financial literacy programs should be tailored to address the socio-economic backgrounds of students to promote better financial management.
Keywords: Family income, Financial attitude, Household consumption, Financial literacy
How to Cite
Oguagu, A. R, Akidi, V., Ohalete, P. I., & Olubiyi, O. I. (2026). Impact of Family Income on Financial Attitude, and Relative Consumption: A Comparative Study of Low-Income and High-Income Undergraduate Students. AEFUNAI Journal of Economics, Finance and Development Studies (AEFUNAI-JEFDS), Vol. 3(1), 475–497.
Creative Commons Attribution 4.0 International License (CC BY 4.0)
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