The main objective of every educational institution is to create leaders of tomorrow by polishing the students of today. It is crucial for an individual to be able to evaluate opportunities and calculate risks for effective decision making and successful ventures. Thus, the main aim of this study is to analyze the factors that affect the level of financial literacy among university students in Pakistan. The data for this study is collected from 170 university students studying at the University of Management and Technology (UMT).; located in Lahore. This study used non-probability sampling technique to achieve the research objectives. Results have revealed that financial knowledge, financial attitude, family influence, and peer influence impact the level of financial literacy among students of UMT. Findings indicate the need to take initiatives for improving the level of financial literacy among students in Pakistan for the future of the country.

Keywords: Financial literacy, family influence, financial knowledge, financial attitude, peer influence, and financial decision making.