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Abstract
This study examines the association between whether a college student has a budget and their personality (conscientiousness and neuroticism), family, and education. Prior literature supports each factor, showing some level of association with general financial literacy. This study more specifically addresses budgeting, a sub-component of financial literacy. The sample consists of 80 students attending Millersville University during the Fall 2024 semester and pursuing a degree through the Lombardo College of Business. Each respondent was given a brief survey addressing factors in association with budgeting, composed of Likert scale questions, openended questions, and yes/no questions. A binary logistic regression of the survey responses shows that, of the independent variables, conscientiousness and involvement in family financial decisions are significantly associated with budgeting. Further, a t-test reveals that prior education is impactful in assessing if a student has a budget, and a Chi Square test provides additional support for the impact of involvement in family financial decisions on budgeting. The results of this study may provide direction and clarity for lawmakers, school administrators, and legal guardians in promoting the budgeting habits of younger generations.