Role of Digital Literacy in Managing Financial Stress among University Students

Abstract

The capacity to access, assess, produce, and share information in the form of online or offline circumstances using digital technology in an efficient and responsible manner is referred to as digital literacy. The Psychological and emotional strain brought on by challenges in managing financial resources, covering expenses, or worry regarding financial stability is referred to as financial stress. The present study examines the role of digital literacy in dealing with financial stress among university students in Chengalpattu District. A quantitative research design was adopted, and data were collected from 100 university students using a convenience sampling technique. Standardized questionnaires were employed to assess levels of digital literacy and financial stress. Statistical analyses, including t-test, one-way ANOVA (F-test), and Pearson’s correlation, were used to analyze the data. The t-test and ANOVA were applied to identify differences in financial stress based on demographic variables such as gender, year of study, and type of institution. Correlation analysis was conducted to examine the relationship between digital literacy and financial stress. The findings revealed a significant negative correlation between digital literacy and financial stress, indicating that students with higher digital literacy reported lower levels of financial stress. The study highlights the importance of enhancing digital literacy skills to promote effective financial management and psychological well-being among university students.