Abstract: This study explores the effect of financial literacy and parental socialization on savings behavior of university going students of Bangladesh. Savings is one of the crucial wheels of economic growth and university students are the future peddler of that wheel. Not only that, total number of university students are 872891 which is a handsome amount. So their savings habit is very significant for the economy. On the other hand recently student’s loan is very available but due to lack of financial knowledge students spend improperly and can’t save. But students are unaware of the effect of different factors which influence their savings behavior.